- 123jump.com Staff
- 27 Feb, 2008
- New York City
Tokyo stocks gained for the third day in a row, nearly 5% gain, on the back of improving sentiment in the international markets. Tech stocks in Japan closed higher on the $15 billion stock buyback from IBM. Commodities, metals, and crude oil closed near record level on falling dollar. Crude oil reached $101.35 a barrel and the U.S. dollar fel to a record low against euro. Gold closed at a new high and silver added 3.5%.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
ASX 200 index rose 1.1% or 61.7 to close at 5,621.60. Zinifex Limited and Allegiance Mining NL today jointly announced a revised takeover offer for Allegiance, priced at $1.10 cash per share. Zinifex delivered a record half-year profit of $1,309.7 million for the period ended 31 December 2007, 74% increase from a year ago on the sale of smelting assets. BlueScope Steel share gained 6.3% after the company hinted that profit in the current half is likely to rise on higher steel prices.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
UK stocks rallied after financial stocks recovered. Standard Chartered rose after reporting second half net income increased 23% to
- 123jump.com Staff
- 26 Feb, 2008
- New York City
Lufthansa AG reported 2007 sales rise of 13% to 22.4 billion euros and operating profit increase of 63% to 1.4 billion euros. For the year number of passengers increased 5.6% to 56.4 million and at Lufthansa and at Swiss International increased 18% to 63 million. Suez in France 2007 profit increased 8.6% to 3.9 billion euros on higher electricity prices. Areva second half profit rose 11% to 448 million euros on higher uranium prices.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
U.S. stocks closed higher after IBM authorized $15 billion stock buyback and talks of Abu Dhabi controlled fund investing in Lennar. Investors also faced difficult news including rising wholesale inflation, falling consumer confidence, and sharp rise in foreclosure in January. Home price index showed a sharp decline in prices in the top 20 metro areas. Prices in eight cities fell in double digits. Macy''''s Target, Nordstrom, and AutoZone rose but Home Depot fell after the release of earnings.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
Railway Minister Lalu Prasad presented a budget to parliament that showed rising revenue, improving operation efficiency, and strong financial surplus. The general strength in the economy helped the minster to lower petrol and diesel freight duty and project rising capital expenditure in the next fiscal year. Steel and other metal stocks rallied on the higher outlays from the budget. Railway ministry expect the surplus fund at the end of the current fiscal year to be near 21,000 crore rupees.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
U.S. stocks edged higher in a cautious trading as investors digested several economic news and earnings. Home prices index measuring home prices in top 20 metropolitan areas registered a sharp fall of 9% across the nation. The sharpest decline in years suggested that housing market reovery may take longer than anticipated. Consumer confidence fell in February and a measure of wholesale price index rose more than expected in January. Earnings from Home Depot missed analysts projections.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
Home prices fell across top 10 and 20 metro areas according to S&P-Case Shiller index. Home prices in Charlotte and Portland increased and in Seattle were nearly flat. Miami led the decliners with a plunge of 17.5% and prices in Las Vegas and Phoenix fell 15.3%. The controversial index does not track prices in smaller towns where price declines have not been severe. coastal cities experienced one of the largest home price rise in the last six years.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
The worries related to new stock offerings on Shanghai exchange kept investors on the edge again. The CSI index in Shanghai trading rose as much as 3% but closed only a fraction higher. Hong Kong stocks took its lead from Shahghai trading but managed to close higher. Hang Semg added 1.9% and China Enterprise Index increased 1%. Steel companies fell after raising prices of most of its products. Baoshan raised prices by 20%. Yunnan Copper, Wuhan Iron, and Zhongjin gold fel.
- 123jump.com Staff
- 26 Feb, 2008
- New York City
Rising demand for office space in Central Tokyo will lead to a decline in available new space by 45% in 2008, for the second year in a row. Honda, Toyota, and Nissan raised their automobiles production in Japan to meet demands in emerging markets. Sony and Sharp are in an alliance to build LCD panel related manufacturing facility in Osaka.
- 123jump.com Staff
- 25 Feb, 2008
- New York City
U.K. prices fell for the fifth straight month as prices dropped 0.2% in January to
- 123jump.com Staff
- 25 Feb, 2008
- New York City
Hong Kong stocks edged lower in nervous trading after a sharp sell-off in Shanghai stocks. Large expected public offerings from governmet controlled companies are likely to choke liqidity in the market. Several offerings are expected to raise more than $3 billion in the next three months. Hong Kong taxpayers are likely to revecie H$40 billion of refunds, but it may take at least a year before economy will see any impetus from it.
- 123jump.com Staff
- 25 Feb, 2008
- New York City
Japan stocks rallied on the back of higher market close in the U.S. In Tokyo trading Nikkei 225 gained 3.07% to 13,914.57, and the broader Topix Index rose 2.6% at 1,355.54. China investment Corp is likely to invest $10 billion in oil refiner Inpex in Japan and follow up with more investments in the country. Aioi Insurance reported a net loss of 4 billion in the nine-month period ending in December.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Caltex Australia plunged 11% after it forecasted tighter refining margin this year prompting earnings worries. Wesfarmers reported 53.3% rise in first half profit including results from the recently acquired Coles. Sims Group reported fiscal first half 2008 profit decline of 9.5% to $102 million. Chinese steelmakers appear to reject overtures to raise iron ore prices by 71% from Rio Tinto. Takeovers Panel ruled that shareholders of Zinifex have a right to cancel their acceptance of the offer.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Latest read on wholsale inflation showed a rise to 4.35%. The rising inflation dragged banks and auto stocks during the trading. Sensex fell 2.2%, and is now 18% below for the year from the peak reached on January 10th. Reliance Communication is acquired a telecom company in Uganda and plans to spend $500 million in African acqusitions.