- 123jump.com Staff
- 06 Aug, 2008
- New York City
Lonmin Plc led advancers in the index shares with a rise of 47.74% after Xstrata Plc made an unsolicited
- 123jump.com Staff
- 06 Aug, 2008
- New York City
Larger than expected loss at Freddie Mac and sharply lower earnings at Whole Foods turned tradning sentiment negative. Benchmark indexes opened lower and quickly fell more. Freddie Mac slashed its dividend by 80% and reported three times more than expected loss. Whole Foods third quarter earnings of 24 cents a share, the stock fell 20%. Cisco revenue fourth quarter revenue rose 10% and earnings gained 4%.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
The Fed decision to leave rates unchanged only fueled fires to the rally that was already in progress by mid-day. S&P 500, Nasdaq and Dow rose near 3% in the hope that rates will remain low for the rest of the year. The Fed in its commnets said that econoy remains weak but inflation is likely to fall in coming months. European markets closed higher but Canada fell and Latin American markets closed up. Cisco closed up in after hours on revenue rise that met expectations.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
Stocks in Shanghai and in Hong Kong fell sharply on the weakness in financial stocks and export worries to the U.S., the largest market for Chinese products. The benchmark indexes fell 2.5% in Hong Kong and Shanghai. Weak results from banks dragged financial stocks lower. Export Import Bank of China reported that non-performing loan ratio declined to 1.8% from 2.4%. Bank of East Asia interim profit declined 52% on losses related to credit markets.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
U.S. stocks rose sharply before the rate decision and extended their gains after the Fed left its key rate unchanged at 2%. The Fed suggested in the accompanying statement that economy is likely to remain weak for the rest of the year as credit remains tight, energy prices are at elevated levels and weakness in housing market persists. The Fed suggested that while commodities prices are high and are likely to remain volatile but inflation is likely to fall in the coming quarters.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
Stocks in Japan edged lower as futures of crude oil and base metal prices declined. Paper, rubber and transportation companies rose but stocks of commodities trading and refining companies fell. In merger news, Orix and Credit Saison are exploring merger to form the largest non-bank financial company in Japan with asset of 11 trillion yen. Steel companies stocks fell on the worries that demand may decline in the second half of the year.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
Stock benchmark in Mumbai surged 2.6% on a drop in crude oil and metal prices for the second day in a row. Auto stocks led the gainers in the session with Maruti Suzuki rising 8.4% and Tata Motors adding 3.7%. Bank and real estate companies stocks closed higher on the expectations of financial reforms that will allow foreign investors to increase their holding in insurance companies and banks. ACC and Ambuja Cements rose more than 5%.
- 123jump.com Staff
- 05 Aug, 2008
- New York City
U.S. stocks edge higher in the morning trading after a drop in crude oil and agriculture commodities. Crude dropped 1% to $119 a barrel and cocoa, corn and soybean lost another 2%. Copper and lead in New York trading lost 4%. In earnings news, Procter & Gamble reported better than expected earnings. Asian markets closed lower and European markets edged higher at mid-day.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Weak crude oil futures, agriculture commodities and metal prices dragged stocks lower in the U.S., Europe and Latin America. Crude dropped as much as 5% and most agriculture commodities fell between 3% and 7%. Gold, copper, silver and zinc dropped as well. Energy complex stocks fell as worries related to hurricane subsided. HSBC first half profit declined and in Japan Nissan and Olympus reported weaker than expected earnings.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Stocks in Tokyo fell on global economic worries and weak earnings from Nissan and Olympus. The benchmark index Nikkei 225 fell 1.2% on weak commodities, auto and financial stocks. Nissan reported first quarter revenue fell 4% to 2.3 trillion yen and earnings declined 43% to 53 billion yen, despite a rise in unit sales of 7% to 936,000. Earnings at Olympus fell 63% to 6.5 billion yen on a fall in domestic sales of 13.5% to 84 billion yen.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
TNK-BP chief financial officer Owen quits as shareholders continue to battle for control of the company. In London trading stocks fell on weak commodities and metals prices. Crude oil fell 1% in the session and base metals prices declined. Of the 102 FTSE 100 index stocks, 49 rose, 52 declined, and 1 was unchanged. Thomson Reuters led advancers in the index shares with a rise of 4.5% and Kazakhmys led decliners with a loss of 10%.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Stocks in Shanghai and Hon Kong fell sharply after the global markets worried persisted in trading. Benchmark indexes in Hong fell 1.5% and in Shanghai dropped 2.4%. Service industry index rose 1.2% in July on rising construction activities ahead of the Olympic Games in Beijing. HSBC operating revenue fell 2% and earnings in the first half dropped 29% on 58% rise in loan loss provision in the period. Stocks of shipping lines and steel makers fell on the expectations of weak demand.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
Stocks in Mumbai trading fell, following a weak trading in the region. Elevated crude oil prices, persistent worries related to the U.S. economic health and rising inflation in India kept investors on the sidelines. Total trading on the BSE and NSE fell 10% to 20,000 crore rupees. Grasim Industries led the gainers in the benchmark Sensex index with a rise of 3.5% and TCS led the decliners with a fall of 2.6%. Cement stocks gained, despite a price freeze and weak demand in the current quarter.
- 123jump.com Staff
- 04 Aug, 2008
- New York City
U.S. stocks fell after the release of June personal income, spending and savings data. The income in the month rose 0.6% but after adjusting for inflation fell 1.9%. Personal savings rate hovered near a low 2.5%. The PCE price index, a measure of prices paid by consumer rose 4.1% from a year ago and may increase in the coming months. Church & Dwight and Humana rose after the release of earnings.
- 123jump.com Staff
- 01 Aug, 2008
- New York City
A rise in unemployment, elevate crude oil prices and general worries related to the U.S. economy kept sellers in command. Unemployment in July rose to 5.7% from 5.5% in June and service sector along with manufacturing shed jobs. In earnings news, General Motors lost $15.5 billion in the quarter as it struggled with falling sales and strike at its plants in the quarter. IAEA approved unanimously a deal to inspect India''s civilian nuclear program. Brazil, Argentina and European markets drop.