- 123jump.com Staff
- 15 Feb, 2008
- New York City
Wholesale index, a measure of inflation, declined, for year ending two weeks ago. The annualized inflation, measured every week on a rolling 52-week period declined from 4.1% at the end of previous week. Prime Minister, ahead of election, remarked that controlling inflation should not be done at the expense of growth. India expects to grow at 9% and keep inflation below 5%. Indiabulls sold a stake in its real estate company to Farralon Capital and Laxmi Mittal.
- 123jump.com Staff
- 15 Feb, 2008
- New York City
French bank Natixis fell 11% after it reported a sharp decline in profit of 50% on subprime loan related losses. Earnings declined to 1 billion euros from 2.1 billion euros on loan losses and insurance related losses. Deutsche Post, the owner of DHL, chief Klaus Zumwinkel resigned after tax evasion charges in Germany. Michelin earnings in the second half increased 14%, less than expected on higher rubber prices. Eni, Italian oil company reported income of 3 billion euros in the fourth quarter.
- 123jump.com Staff
- 15 Feb, 2008
- New York City
U.S. stocks traded in a tight range. UBS analyst revised his estimate from total loan losses to $350 billion from $150 billion on higher losses from assset backed securities, commercal mortgage securities, leveraged loans, and credit card loans. Import price index in January rose 1.7% sparking worries that inflation may be on the rise. General business condition index for New York region manufacturers declined as reported by the NY Fed, worst reading in three years.
- 123jump.com Staff
- 15 Feb, 2008
- New York City
U.S. stocks declined on the worries that the current credit market losses may widen, higher estimates of loan losses, and weak manfacturing survey from the NY Fed. The market averages edged lower after the UBS analyst estimated additional loan losses of more than $200 billion. Separately, Citigroup estimated additional loan losses at UBS of between Sfr12 billion to Sfr20 billion. FGIC, troubled bond insurer, requested NY Insurance Department to separate its municipal bond business.
- 123jump.com Staff
- 15 Feb, 2008
- New York City
The Bank of Japan left its key interest rate unchanged to 0.5% in an unanimous vote but voiced a concern on the rising energy and food prices. The Bank also noted in a separate statement that housing investment is acting as a drag on the economy and noted that credit demand in the private sector has bee flat.
- 123jump.com Staff
- 15 Feb, 2008
- New York City
ASX 200 index lost 1.4% or 78.2 to close at 5,606.60. The Preliminary market turnover was 1.32 billion shares worth $6.18 billion, with 422 stocks moving up, 729 moving down, and 354 unchanged. Centro Group requested a trading suspension ahead of debt reschedule negotiations. Centro is likely to get an extension of 60 days. Of the ASX 200 index stocks, AED Oil Limited led the gainers with a rise of 43.3% followed by increases in Alumina Limited of 9.4%.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
UBS,Swiss Banking group, fell 8% after reporting a loss of 12.5 billion francs. Group Danone fell 3.5% after reporting earnings for 2007 of 4.2 billion euros including the one-time gain of 3.1 billion euros for the sale of biscuits and cereals unit. Net sales in 2007 increased to 12.7 billion euro, an increase of 10% from the continuing business or 5.9% including the acqusition of Royal Numico sales.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
U.S. stocks reversed their earlier gains and declined after cautionary comments from the Fed Chairman Bernanke. He suggested that economy may be sluggish in the near term and banking and housing sectors may face more difficulties. Technology, financials, and brokerage stocks declined. International traded deficit in 2007 fell on rising exports. Trade deficit declined to 5.1% of economy from 5.7% in 2006.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
UK stocks changed course and declined after the comments from the Fed Chairman Bernanke. The cautionary comments put investors on the defensive. He also reiterated that the downside risk to the economy has increased and banking sector may remain under pressure. He sounded optimistic note on the inflation but also suggested that the economic growth in the near term is likely to be sluggish. UK stocks declined, led by a fall in housing and banking stocks on the comments.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
Mumbai stocks surged on Thursday with the benchmark index Sensex gaining 4.8% 817.49 and CNX Nifty rose 5.3% or 5,202.00 levels. Sharp in rise in Europe and the U.S. listed Asian markets. The rally in global markets was triggered by an unexpected rise in US retail sales in January 2008.Petrol prices were revised by two rupees per litet and diesel prices were increased by one rupee. The price hike lifted Indian Oil by 14% and BPCL by 11%.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
U.S. stocks reversed its earlier course and fell after cautious comments from the Fed Chairman Bernanke. The comments highlighted the ongoing correction in the housing market and noted that the housing market may decline further. The Chairman estimated that the near term outlook for the economy is sluggish and noted that downside risks to the growth have increased. Unemployment claims at the end of the last week decreased.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
Australian stocks edged higher after earnings report from Rio Tinto and a rally in Asian markets. Rio Tinto jumped 4.5% after reporting 11% rise in operating earnings and 2% decline in net earings on 32% rise in sales in 2007 from 2006. The better than expected earnings were largesly acheived on higher prodcution of iron ore, copper, and other metals. The company spent $5 billion in capital expenditures.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
Fiscal surplus in Hong Kong is expected to rise to HK$100 billion according to a forecast from the Taxation Institute. The largest surplus since 1999, prompted demands to lower property and other taxes. Bear Stearns and Citic have agreed to lower the price of investment in each other after the recent market slide. Hong Kong stocks gained on the resurging markets across Asia. Shipping lines surged on a rise in the freight price index.
- 123jump.com Staff
- 14 Feb, 2008
- New York City
Stocks in Japan rebounded after the economic growth in the fourth quarter exceeded expectations and better than expected January retail sales in the U.S. In Tokyo trading Nikkei 225 rose 4.3% 13,626.45, and the broader Topix Index increased 3.7%. Markets across Asia jumped between 2% and 5%. Economic growth in Japan accelerated to 0.9% in the fourth quarter from 0.8% in the third quarter despite a weak performance in construction industry.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
L''Oreal reported 8% rise in sales to 17 billion euros and 11% increase in earnings, after excluding one-time gains, to 2.04 billion euros. International sales and new fragrance launch under the Diesel brand contributed to sales. Stora Enso fourth quarter loss of 135.3 million euros and plans to close more paper mills in Helsinki. Hochtief AG, German construction company, reported annual profit of 140 million euros.