- 123jump.com Staff
- 19 Mar, 2008
- New York City
Stocks in Japan rallied tracking the gains in the U.S. Other Asian markets gained as well. The Federal Reserve Bank lowered its benchmark rate 0.75% to 2.25%, lowest in the last three years. The decision lifted financial stocks in Japan and across Asia. In Tokyo trading Nikkei 225 increased 2.48% or 296.28 to 12,260.44, and the broader Topix Index gained 2.8% or 32.67 to 1,196.30.
- 123jump.com Staff
- 18 Mar, 2008
- New York City
Asian stock markets rallied tracking large gains in the U.S. stocks. DS&P 500 and Nasdaq surged 4% and Dow Jones added 3.5%. U.S. lowered its benchmark rate by 0.75% to 2.25%, lowest since February 2005. Lehman Brothers and Goldman Sachs reported lower earnings but beat the estimates lifting bank stocks. The surge in financial stocks in the U.S. and Europe is reflected in the Asian markets trading. Banks, brokers, and insurance companies are tradng higher.
- 123jump.com Staff
- 18 Mar, 2008
- New York City
The Bank of Japan governor position is likely to remain vacant if a compromise between the ruling party and DPJ is not reached by tomorrow. The vacuum at the central bank in Japan will send a wrong signal to the world financial markets at a time when investors are jittery and inflation is on the rise. NTT lowered its revenue and earnings guidance for the current year.
- 123jump.com Staff
- 18 Mar, 2008
- New York City
European markets surged higher ahead of the U.S. rate decision and after the release of earnings from Goldman Sachs and Lehman Brothers. Goldman and Lehman reported lower earnings but beat the expectations. UBS sliced pay of its chairman Marcel Ospel by 94% in 2007 to SFr2.6 million from 2006.
- 123jump.com Staff
- 18 Mar, 2008
- New York City
U.S. stock averages surged nearly 4% after a string of good news on earnings and the Fed decision to lower interest rate. The Fed lowered the benchmark rate by 0.75% to 2.25%. The sharp decline in rates lifted stocks that were already up in the morning, higher. Nasdaq and S&P surged above 4% and Dow added more than 3%. Goldman Sachs and Lehman Brothers earnings fell but beat the estimates. Visa prices its IPO at $44 per share and raised $17.9 billion to begin trading tomorrow.
- 123jump.com Staff
- 14 Mar, 2008
- New York City
At the end of the last week in February, annualized inflation rose to 5.11%, a decline from 6.5% a year ago but an increase from 5.02% at the end of the previous week. The cost of fuel and manufactured items played a key role in the inflation increase. Finance minister P. Chidambaram reiterated that the economy will grow at 8.5% despite global financial markets volatility.
- 123jump.com Staff
- 14 Mar, 2008
- New York City
UK banks and financial stocks fell sharply after the Fed orchestrated emergency loan to the fifth largest investment bank Bear Stearns. The stock of the investment bank traded as low as 50% during the day in New York trading. FTSE 100 index fell 1.07% or 60.7 to 5,631.70.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
Australian stocks fell after markets in Asia fell on the more troubling news from the U.S. financial markets. Bear Stearns, the fifth largest investment broker was sold 90% below its Friday closing price to JP Morgan. The fire sale of the bankers ar $2 per share sent shock waves around the world as investors turned cautious. ASX 200 index shed 2.3% or 119.9 to close at 5,087. Babcock Brown Power dropped 10% as investors worried that the company may not be able to refinance its debt.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
European stock markets plunged after the fire sale of Bear Stearns at 90% below its Friday closing price to JP Morgan. The news sent shock waves in the banking cirlces in the region and all leading banks, brokerages, and insurance companies fell. UBS plunged nearly 11% in New York and Swiss trading after the company decided to eliminate 8,000 positions. The Bak of England auction for emergency debt attracted five times the size of auction. Turkish lira and stocks plunge.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
Investors sold stocks of financial brokerage firms after the fire sale of Bear Stearns to JP Morgan. The four largest brokers Goldman Sachs, Merrill Lynch, Morgan Stanley, and Lehman dropped. Investors worried that rising margin call requirements and rapidly declining mortgage securities values may erase equity capital of these companies. European markets, Japan, India, and Brazil fell sharply.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
U.S. financial stocks dropped as investors pulled money from the sector. The collapse in Bear Stearns stock shocked investors and left them worried of the fate of Merrill Lynch, Lehman Brothers, Goldman Sachs, and Morgan Stanley. Lehman plunged 50% after its chief executive said the added liquidity from the Fed will help the financial system. The vague statement concerned investors that Lehman may be facing liquidity crunch, which the company denied.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
Stocks in Hong Kong fell sharply after the rescue of Bear Stearns at a fire sale price. Hang Seng index dropped 5.2% or 1,152 to 21,084. The news of the fifth largest bank liquidation in the U.S. over the weekend kept investors guessing for the next victims and impact on the exports from the region. Separately Hong Kong reported 2007 real GDP rose 11.4% and fourth quarter growth of 11.7%. Banks, properties, and telecom stocks fell sharply. Japan, India, and China indexes declined.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
Stocks in Japan and in Asia plunged after the fire sale of Bear Stearns, the fifth largest investment bank in the U.S. to JP Morgan. The news sent shock waves in the financial markets in Asia with Mumbai, Shanghai, Hong Kong, and Tokyo declining sharply. In Tokyo trading Nikkei 225 declined 3.71% or 454.09 to 11,787.51, and the broader Topix Index fell 3.7% or 43.58 at 1,149.65.
- 123jump.com Staff
- 17 Mar, 2008
- New York City
Bear Stearns facing bankruptcy and under heavy supervision from the Fed, agreed to a purchase price of $2 per share or $235 million from JP Morgan. The fifth largest broker was essentially liquidated, wiping out the company that only a year ago had a market value of $40 billion. The fire sale price of Bear Stearns sent shock waves around the world. Global markets plunged as investors worried that the U.S. regulators and politicians appear to lack effective tools to stem the recession.
- 123jump.com Staff
- 14 Mar, 2008
- New York City
Bear Stearns plunges 49% in the morning trading after it agreed for a secured credit facility with JP Morgan. The company in a press release said that its capital position has deteriorated in last 24 hours and is working with JP Morgan to arrange for a permanent financing. The emergency financing arranged with the help of the New York Fed suggests the gravity of th situations. The news also dragged Lehman Brothers stock lower by 10%.