- 123jump.com Staff
- 29 Nov, 2007
- New York City
Australian stocks edged higher after enthusiastic investors lifted stocks across Asia. ASX 200 index jumped 1.2% or 74.40 to close at 6,370 on the hopes that interest rates may be lowered in the U.S. at the next meeting of the Fed. Resource, banks, and retail stocks led the gainers. National Australian Bank announced that it may acquire Great Western Bancorp based in South Dakota. BlueScope Steel jumped 4% after it laid plans to restructure its China operations.
- 123jump.com Staff
- 29 Nov, 2007
- New York City
Hong Kong stocks led the region with a sharp rise in Han Seng Index of 4.1% or 1,111.30 to 28,482.54. Property stocks rallied on the news speculation that the U.S. interest rate is likely to to be lowered in the next meeting in two weeks. Sino Land surged 9%, Hang Leung gained 8%, and Sung Hung Kai added 4.5% on the rate cut expectations. Hong Kong interest rates are tied to the rates in the U.S.
- 123jump.com Staff
- 29 Nov, 2007
- New York City
E*Trade Financial Corp, widely known for its discount online trading service agreed to sell its portfolio of mortgage loans and securities to Citiadel Investment for $800 million. The bank and online broker will also sell 10-year notes of $1.75 billion to investment group yielding junk interest rate of 12.5%. The deal also removes the current chief executive in the company and grants a board seat to Citadel.
- 123jump.com Staff
- 29 Nov, 2007
- New York City
Stocks in Japan rallied after comments from the U.S. Fed official reinforced a rate cut expectations at the next meeting on December 11. Rally in financial and export driven stocks lifted Nikkei 225 index higher by 2.4% to 15,513.74. Asian stocks rallied across the region led by a sharp rise in Hong Kong of 4.2% followed by increases of more than 2% in Singapore, Thailand, and in Taiwan.
- 123jump.com Staff
- 28 Nov, 2007
- New York City
U.S. stocks rallied for the second day after Fed Vice Chairman comments reinforced the rate cut expectations. Finacials led the advance followed by a surge in consumer related and housing market driven stocks. Dow, S&P 500, and Nasdaq surged between 2% and 3%. Dollar rose aginst yen. Oil fell after a weekly inventory report. Gold fell for the second day in a row. Of the stocks in S&P 500 index nearly 90% advanced and 50% jumped more than 3%. Freddie Mac and CB Richard Ellis led the gainers.
- 123jump.com Staff
- 28 Nov, 2007
- New York City
U.S. stocks rallied sharply in after the comments from the Fed Vice Chairman were interpreted as a possible rate cut in the next Fed meeting. Dow Jones, S&P 500, and Nasdaq jumped 1.5% by mid-morning trading. Finacial stocks led the rally. European markets closed higher by 3% across the region.
- 123jump.com Staff
- 28 Nov, 2007
- New York City
Japanese financial markets have not been able to shake off the volatility emanating from the U.S. markets. The continuted worries related to the U.S. sub-prime losses and ongoing correction in the U.S. housing market have global markets on the edge. Third quarter U.S. home prices fell 4.5% sparking a new round of worries related to the health of the U.S. banks. Nikkei 225 index closed 0.5% lower to 15,153.78 in volatile trading.
- 123jump.com Staff
- 27 Nov, 2007
- New York City
U.S. stocks retraced losses of the previous session after a cash infusion of $7.5 billion in Citigroup from Abu Dhabi Investment Authority. Banks, brokers, and financial services stocks rebounded. Home prices fell 4.5% according to an index tracked by S&P in the third quarter. European and Asian markets closed lower. Apparel retailers reported weaker than expected earnings. Oil, gold,and metals fell. Musharraf finally resigns as Pakistani chief of army under international pressure.
- 123jump.com Staff
- 27 Nov, 2007
- New York City
Australian stocks declined after the banks and financial services stocks faced another wave of sell-off. ASX 200 index lost 0.6% to close at 6,432.70. The eleven month long fight by Healthscope to takeover Symbion entered into another phase. Healthscope acquired 10% stake in the company through a swap agreement from Goldman Sachs. Rio Tinto laid out plans to boost production of iron ore to 600 million tons.
- 123jump.com Staff
- 27 Nov, 2007
- New York City
Sensex index in Mumbai trading fell in the afternoon on the weakness in the global markets. U.S. credit market jitters have destabilized world markets. The ongoing U.S. housing market correction has sent the stocks of banks in the U.S., Europe, and Japan lower. The Governor of Reserve Bank of India cautioned that Indian financial markets may be affected even if banks in India have little or no exposure to the U.S. sub-prime lending.
- 123jump.com Staff
- 27 Nov, 2007
- New York City
U.S. stocks opened higher with Dow, S&P 500, and Nasdaq trading 0.7% higher. Citigroup stake sell of 4.9% to Abu Dhabi sparked a rally in banking and financial services companies. The news lifted stocks in Japan, Hong Kong, and across Europe. American Eagle reported lower than expected profit but Talbots declared losses. Home prices fell 4.5% in the third quarter from a year ago according to an index published by S&P.
- 123jump.com Staff
- 27 Nov, 2007
- New York City
Citigroup seeks addtional funding in less than two weeks of raising $4 billion at nearly 2% higher than Treasury yield. The current investment of $7.5 billion from Abu Dhabi Investment Authority comes at a steep interest cost of 11% and conversion price in the year 2010 at a price near the current market price. Citigroup has lost nearly 45% of its value in the last 52-weeks of trading.
- 123jump.com Staff
- 27 Nov, 2001
- New York City
Stocks in Japan rebounded from the morning slump of 2.2% to close up 0.6% on the news that Abu Dhabi Investment Authority plans to buy 4.9% stake worth $7.5 billion in the troubled Citigroup. The rate of interest that the bank is willing to pay to seek capital reflects its dire need of capital. Only ten days ago, Citigroup sold 10-year bonds at interest rate of 6.125%. The news lifted stocks in Japan. Nikkei 225 recovered as financial stocks retraced most of the losses.
- 123jump.com Staff
- 26 Nov, 2007
- New York City
U.S. stocks were caught again in a downward draft as investors worried the impact of credit crunch and ongoing housing market correction. Dow lost 1.8%, S&P 500 declined 2.3%, and Nasdaq lowered 2.2%. Of the stocks in S&P 500 index, 450 declined and 48 closed higher. HSBC decided to support with $35 billion in funding its structured investment vehicles. UBS analyst downgraded Fannie Mae and Freddie Mac dragging brokerage and other financial sevices stocks with it.
- 123jump.com Staff
- 26 Nov, 2007
- New York City
Stocks in Japan rebounded, reflcting a mild rally in the U.S. indexes. For a week, stocks in Japan have traded sideways and investors have been cautious ahead of the holiday sales season in the U.S. Nikkei 225 index jumped 1.7% to 15,135 and broader Topix index edged 2% higher. Exporters edged higher led by automakers, consumer electronics, and banks. The Minister of State for Financial Services estimated that the U.S. sub-prime related losses at the Japanese banks may reach 300 billion yen.