- 123jump.com Staff
- 06 Nov, 2007
- New York City
Tokyo stocks edged lower at close, bucking the regiona trend of rising stocks. Nikkei 225 index fell 0.12% to 16,249.63. An index of leadin economic indicators fell to 0%, reflecting a recessionary sentiment among business professionals. The Coincidence Index fell to 66.7% and Lagging Index dropped to 25%. The Ministry of Finance revised its wheat an barley budget by 23% to cover the shortfall on rising prices. Japan Airlines revised its outlook for the fiscal 2008.
- 123jump.com Staff
- 06 Nov, 2007
- New York City
U.S. stocks in early trading traded higher on the strenght in tech and resource stocks. Markets in Asia closed higher and in Europe edged higher on rising metal prices. Sun Micosystems fell 5% after reporting lower than expected earnings and sales increase of 1%. ADM reported 9.4% increase in earings on 36% rise in sales. Asian markets closed higher and European markers edged higher at mid-day trading. Gold edged to a record high.
- 123jump.com Staff
- 05 Nov, 2007
- New York City
Stocks in the U.S. edged lower under the new mortgage securities related charges from Citigroup. The news did greater damage to market averages in Asia, Europe, and emerging markets of Latin America. Gold and silver rose. Oil fell from the peak but traded near elevated levels. Citigroup decided to write-down between $8 billion and $11 billion in mortgage securities reflecting the correction in values of these loans as of Sept 30th. PetroChina IPO tripled on its first day of trading in Shanghai.
- 123jump.com Staff
- 05 Nov, 2007
- New York City
IAC/InterActiveCorp finally broke the company up in five separate units with its own capital structure and management. The long sought after breakup of the company came after a bitter strugle between Barry Diller, chief executive of the company, and its largest shareholder, John Malone. IAC stock rose as high as 10% after the break-up news.
- 123jump.com Staff
- 05 Nov, 2007
- New York City
Australian stocks fell reflecting weakness in Asian tradig. ASX 200 closed 1.7% lower to 6,582.30 after banks fell sharply. Citigroup asked its chief executive to retire and lowered its subprime mortgage portfolio between $8 billion and $11 billion. The sharp write-down prompted worries that the other banks and brokerages may report higher losses in the coming quarters. Nufarm agreed to an exclusivity for an offer form Chem China which valued the company at 30% higher than market price.
- 123jump.com Staff
- 05 Nov, 2007
- New York City
Market averages opened sharply lower after Citigroup replaced its chief executive and reported more losses in its subprime loan portfolio. Dow, Nasdaq, and S&P 500 fell more than 0.5%. In the overnight tradig Asian markets fell. Hong Kong led the decliners with a loss of 5% on the worries that fund flows from mainland China to Hong Kong market may be delayed. Oil and gold held firm in the early trading.
- 123jump.com Staff
- 05 Nov, 2007
- New York City
Sensex in Mumbai trading fell nearly 2% after markets in Asia closed lower. Banks led the decline in Mumbai and in Asia. Hong Kong and Pakistan led the region with a loss of 5%. Mundra Port and SEZ initial public offerig was oversubscried seven times on the third day of its listing period. Relance Naural surged 25%.
- 123jump.com Staff
- 01 Nov, 2007
- New York City
Stocks in Mumbai are expected to open higher led by a rally in Asian markets. In the overnight trading, the U.S. Federal Reserve lowered the target rate by 0.5% to 4.5%, sparking a rally in the emerging and Asian markets. Dollar fell to a record low against euro and declined against Japanese Yen. Markets in Australia, Hong Kong, and Indonesia rose in the morning trading. IT, retail, and infrastructure stocks are likekly to trade higher in India. Sensex Jumped 14% in October.
- 123jump.com Staff
- 31 Oct, 2007
- New York City
The Federal Reserve in the U.S. lowered the target rate by 0.5% to 4.5% ahead on economic slow-down. The Bank of Japan left its interest rates unchaged at 0.5% and lowered its estimates of 2007 economic grwoth to 1.8% from 2.1%. U.S. third quarter GDP grwoth rate was reported at 3.9% and lower rates helped market averages to close higher. European stocks closed higher led by banks. Asian markets closed mixed. MasterCard surged on 63% rise in net income.
- 123jump.com Staff
- 01 Nov, 2007
- New York City
Stock in the early trading in New York are sharply lower after weaker than expected earnings from Exxon Mobil and renewed worries related in the housing market. Exxon Mobil reported profit decline of 10% on 2.8% rise in revenue. Credit Suisse reported 31% decline in profit on 2.2 billion loss in the mortgage and leveraged loans. Oil and gold fell in the early trading. Citigroup lost 7% after an analyst downgrade and speculated on dividend cut.
- 123jump.com Staff
- 01 Nov, 2007
- New York City
Stocks in Japan rose on the stronger than expected third quarter U.S. economic growth and the Federal Reserve decision to lower the target rate by 0.5% to 4.5%. Earlier the Bank of Japan had left its interest rates unchanged to 0.5% and lowered its economic growth estimate for the fiscal 2007. Yen in Tokyo trading edged higher. New Housing starts fell in September, a decline for the second months in a row, on a new building code requirements.
- 123jump.com Staff
- 31 Oct, 2007
- New York City
The Fed lowered its target rate to 4.5% for. Of the ten voting members of the Open Market Committee, only one dissented to keep the rate same. The expectations of lower rate was widely expected by the market. Dollar traded weak in the morning and fell to another record low against euro on the decision. Oil surged above $94 after the rate cut. The Fed signaled that while the economic grwoth in the third quarter was strong, the growth is liklely to fall in the coming quarters.
- 123jump.com Staff
- 31 Oct, 2007
- New York City
In the morning trading U.S. stocks edged higher. Third quarter GDP grwoth rate was reported at 3.9% higher than estimated by most economists. The Federal Reserve is expected to release is interest rate decision this afternoon. Investors and Wall Street is forecasting a rate cut between 25 and 50 basis points. Overnight, the Bank of Japan left its rate unchaged at 0.5%. MasterCard soared after reporting a sharply higher earnings of $2.31 per share.
- 123jump.com Staff
- 31 Oct, 2007
- New York City
The Bank of Japan left the interest rates unchanged at 0.5% by 8 to 1 vote. The Central bank also lowered its annual economic outlook for fiscal 2007 to 1.8% from 2.1% and widened the range for the fiscal 2008. Stocks in Japan rose after the bank decision. Separately wage survey showed that September wages fell 0.5% and monthly hhours worked per person declined 2.3%. Auto parts maker, Denso rose after predicting higher net income.
- 123jump.com Staff
- 30 Oct, 2007
- New York City
Stocks in Autralia on Wednesday morning are expected to open lower reflecting general weakness in European and American markets. Australian dollar is trading near 92 cents to an American dollar, record high on the expectations that interest may be heading lower in the U.S. Oxiana, copper and gold miner said that its capital cost for Prominent Hill project is likely to be 30% higher.