- 123jump.com Staff
- 01 Jul, 2008
- New York City
The Reserve Bank of Australia left its key rate at 7.25% but noted that inflationary pressures are building in the economy. The CPI index for the year ending in March was at 4.2% and since then the inflation has been buidling. Australian stocks fell nearly 18% in the first half as global credit market worries dragged financials lower. Of the ASX 200 index stocks, Connecteast Group led the gainers with a rise of 11.1% and ABC Learning led the decliners with a fall of 16%.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
The stocks in UK fell sharply after home prices fell 0.9% in June and home sales remained weak across the country. The weakness in the U.S. trading at the UK close also contributed to the weak sentiment in London trading. Record crude oil prices, rising inflation fears and worries related to further write downs at UK banks dragged market indexes lower. Barclays shed 3.4%, Royal Bank of Scotland declined 5% and Standard Chartered fell 2%.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
Stocks in Japan fell for the eighth trading session in a row as rising oil prices and continue credit market worries keep investors away. Separately Tankan business survey showed a decline in sentiment across large and small manufacturers for the three months to June. Separately wages in May rose 0.2% an cash earnings rose 0.1%. U.S. auto sales in June declined and Toyota sales fell 21% from a year ago.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
Shanghai Composite Index fell 3% as investors specluate rising interest rates in China and possible slowdown in the economy. Hong Kong stock market were close to celebrate the handover of the island from Britain. Banks and oil refiners led the decline in trading in Shanghai. Chinese foreign exchange reserve rose 18% from a year ago in the first five months to $1.8 trillion at the end of May. The steady rise in foreign exchange has contributed to the elevated inflation.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
Stocks in India fell 2.5% after record crude oil price in the region soured the trading sentiment. Rupee fell against dollar as rising oil price lift trade deficit for the country. Separately May trade deficit surged to $10.8 billion on 13% rise in exports and 27% rise in imports. Oil import cost surged 51% from a year ago. Rupee fell to 43.56 a dollar.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
U.S. stocks staged a turnaround in the afternoon after the release of June auto sales. Sales declined in the months on three fewer selling days compared to a year ago and consumers held back on large vehicles. The annualized sales decline represent nearly 16% drop from a year ago. Stocks staged a rally, led by a rise in General Motors after it reported a decline of 19% less than estimated. chrysler led the industry with a loss of 36% and Ford sales fell 28%.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
U.S. stocks declined sharply by the early afternoon as crude oil hovered near record level and talks of a military strike against Iran dampened the moood. Dow, S&P 500 and Nasdaq dropped 1%. Transportation stocks declined, led by a sharp fall in AMR Corp, UAL and Delta Airlines. UPS and FedEx declined 3% on a rise in crude oil prices.
- 123jump.com Staff
- 01 Jul, 2008
- New York City
U.S. stocks struggle in the morning trading after crude oil increases $3 to $143 a barrel. The talks of possible military strike on Iranian installation lifted prices of oil and gold. U.S. stock fell as talks of lower than estimated earnings for the second quarter dominate trading. CIT soars 24% after it agreed to sell its home lending unit and record a pre-tax loss of $2.5 billion. Asian markets closed lower with India losing 3.7%.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
Markets around the world decline in the first half of this year on rising inflation and U.S. housing market led global credit market crisis. Dow and S&P 500 indexes fell 14% and Nasdaq declined 13.6% in the first half. Indexes in Shanghai lost 48%, in India dropped 34% and in Japan fell 11%. France and Spain led the decliners in Europe with a loss of 20% followed by a loss of 19% in Germany and 14% in the UK. Only Mexico, Brazil, Canada, South Afirca and Russia managed to close higher.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
Markets around the world decline in the first half of this year on rising inflation and U.S. housing market led global credit market crisis. There appears to be no end to the weakness in the credit market and lenders in U.S tighten loan standards and issue fewer loans. Dow and S&P 500 indexes fell 14% and Nasdaq declined 13.6% in the first half. Indexes in Shanghai lost 48%, in India dropped 34% and in Japan fell 11%. UK index dropped 14% and indexes in Germany, France and Spain fell.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
The battle for Australian coal resources heat up after Posco and ArcelorMittal acquire stakes in the company. ArcelorMittal raised its stake to 20% and Posco took a stake of 10%. Steel companies from China, Korea and Europe are eying for Australian mineral resources as coal, iron ore and other raw materials rise in prices. Australian dollar surges. ANZ declined to take a majority stake in prime broker Chimera after initial review. Babcock agrees to pay higher interest and delays debt repayment.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
Stocks in Hong Kong fell 21% in the first half as credit market jitters dragged stocks lower. Rising energy and food prices dragged stocks in Shanghai lower in the first half as well. Stocks in Shanghai are down nearly 50% from the peak in October. Tanshan Steel and Handan Steel merge to form Hebei Steel, the largest Chinese steel company with production of 50 million tons in 2009. Shanghai CSI 300 index dropped 23% in June and lost 48% for the year.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
Japan stocks declined for the eighth day in a row as global credit market worries and rising crude oil prices affect trading sentiment. Moodys raised its rating on sovereign debt of Japan and cited restrained spending by the government. Japan also eliminated taxes on off-shore funds to attract foreign asset managers. Steel stocks in Japan rose higher after Posco of Korea and ArcelorMittal of Europe raised stakes in Macarthur Coal of Australia.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
UK consumer confidence fell to a record low on rising fuel and food prices and tighter credit conditions. Another survey of banks showed that banks estimate more than six months before credit markets will stabilize. The BoE reported that mortgage loans in May fell to 42,000 from 58,000 in April. A spike in crude oil price in London lifted energy stocks.
- 123jump.com Staff
- 30 Jun, 2008
- New York City
U.S. stocks rebounded after crude oil futures fell from the intra-day record high of $143 a barrel. Corn futures fell 4%, the daily limit after the latest planting report from the USDA. The report showed 2% increase to 87.3 million acres of corn planting from its previous estimate in March. H&R Block rose after it reported profit in the latest quarter. MBIA and MGIC Investment led the decliners in the S&P 500 index.