- 123jump.com Staff
- 25 Sep, 2007
- New York City
August existing U.S. home sales declined. The sales declined the most in the West but prices in the Midwest declined only 0.7% from a year ago. The consumer confidence fell in August to 20-month low and is expected to fall further. Retail stocks in the morning trading in New York fell on lowered profit forecast from Lowes and smaller rise in same stores sales in September from Target. Oil below $80. European markets are mixed. Australia closed at a record high ahead of BHP annual report.
- 123jump.com Staff
- 25 Sep, 2007
- New York City
Lennar, Miami based home builder, reported third quarter loss of $3.25 per share or $513.9 million on 44% decline in revenue. The company sold 41% fewer homes at 6.3% lower prices. Lennar reported a string losses beginning in the fiscal fourth quarter of 2006. In the fourth qaurter the company reported a loss of $1.24 per share and in the second quarter of fiscal 2007 a loss of $1.55. In the first quarter 2007 Lennar reported a profit of 43 cents.
- 123jump.com Staff
- 25 Sep, 2007
- New York City
Stocks in Tokyo trading gained 0.6% to close at 16,401.73 on rising yen, land prices, and wider rally in energy and metals trading companies. Of the 225 stocks in the Nikkei index, 136 gaines, 81 declined and 8 closed unchanged. Yen advacned against American, Australian, and New Zealand dollars. Last week meeting minutes at BoJ revealed that the bank is likley to keep rates at 0.5% if credit markets do not retun to normal.
- 123jump.com Staff
- 24 Sep, 2007
- New York City
Stocks in New York were lackluster after a week of advance. Techs and mining stocks gained but financials and housing sector stocks declined. Apple, EMC, and Google closed higher. BHP Billiton led the miners higher in Europe and Asia after the news reports said that the company has discovered large deposits of gold. India, Hong Kong, and Australia closed at a record high. UK August reported a record budget deficit. PetroChina jumped 8% but China Eastern Air dropped 18%. Oil, gold fell.
- 123jump.com Staff
- 24 Sep, 2007
- New York City
Stocks in London closed marginally higher. Mining stocks closed sharply higher on falling dollar and rising metals and oil prices. Rio Tinto, BHP Billiton, Antofagasta, and Vedanta Resources closed higher. BHP is reported to have found one of the largest gold deposits, discovered in the recent years. Tesco jumped on broker recommendation. Wolseley reported lower than expected earnings on the U.S. housing sector slow down.
- 123jump.com Staff
- 24 Sep, 2007
- New York City
Sensex in India jumped 1.7% to a record close at 16,845.83. of the 30 stocks in the Sensex, 25 closed higher. The steady fund flows into the country has lifted rupee to a nine-year high. The rupee closed 0.3% higher to 39.77 against one dollar. Rupee advanced 1.4% in the last week, up 11% for the year and 14% in the last twelve months. Kamal Nath ruled out the possiblities of government intervention in the currency market. Relinace Industries closed at a new record.
- 123jump.com Staff
- 24 Sep, 2007
- New York City
In the the early trading in New York, tech and mining stocks are leading the charge. Oracle, EMC, and Apple are up nearly 4%. Mining stocks are sharply higher led by Brazilian miner CVRD. In the overnight trading in Asia, Hong Kong led the region with a sharp rise in the Hang Seng index. Australia, India, and Korea advanced. In European trading mining stocks are leading UK higher by 0.4% in the late afternoon trading. India jumped 1.6%.
- 123jump.com Staff
- 24 Sep, 2007
- New York City
Gindalbie and Sundance Resources of Australia have agreed to merger and create A$2.4 billion of iron ore giant with operations in Australia and Africa. The firm iron ore prices and rising demand from China is sparking a consolidation wave. In another deal, Orica of Australia agreed to purchase U.S. based Excel Systems for $670 million and create the largest industrial explosives and mining roof maker. Aussie dollar gained against the U.S. dollar.
- 123jump.com Staff
- 21 Sep, 2007
- New York City
Stocks in New York rise on 25% increase in earnings from Oracle. Oil and gold traded near their recent peaks but dollar fell against euro to $1.41. Stora Enso of Finland has agreed to sell its eight paper mills in North America to Cerberus for $2.52 billion. Bausch & Lomb shareholders approved $3.7 billion or $65 cash per share bid from Warburg Pincus. Harmon International said that KKR is not likely to complete its buyout of the company, stock lost 22%. Chinese ADRs listed in New York surged.
- 123jump.com Staff
- 21 Sep, 2007
- New York City
FTSE 100 index in London trading added 0.4%. Of the stocks listed in the index, 67 gained and 33 declined. Vodafone is negotiating over potential $2 billion capital gains tax bill for its acquisition of Indian mobile operator Hutchinson. Gold reached another intra-day high. UK Treasury clarified that it will protect new deposits in the existing accounts of Northern Rock but not new accounts. British Energy jumped 6% after Deutsche Bank raised rating and Kingfisher fell on lowered price targets.
- 123jump.com Staff
- 21 Sep, 2007
- New York City
Reliance group of companies dominated trading in Mumbai, India today. Several companies in the group logged more than 5% gain at the end of the day. Foreign investments flows in India surged to $11 billion at then end of July surpassing $9 billion for the year 2006. Ambuja Cements added 2% on huge trading volume. Jignesh Shah controlled company, receives approval for the first electric power trading exchange. Indian Rupee trades near peak against dollar.
- 123jump.com Staff
- 21 Sep, 2007
- New York City
Market indexes at the opening indicate 0.3% increase in Dow, Nasdaq, and S&P 500. Oracle reported revenue increase of 26% and earnings gain of 25%. Revenue in the quarter jumped to $4.5 billion. Nike reported revenue gain of 11% and earnings jumped 51% to $1.12 per share or $569 million. Oil and gold traded at elevated levels. Euro advances against dollar and now trades at $1.41.
- 123jump.com Staff
- 21 Sep, 2007
- New York City
In Tokyo trading Nikkei 225 index fell 0.6% to close at 16,312.61. For the week, Nikkei gained 1.2% and Topix advanced 0.5%. Sharp is in a deal with Pioneer Corp to buy 14% of the company. Pioneer will acquire 0.5% in Sharp. Misui Fudosan is in advanced stages of discussion with Cerberus Capital to buy its 33% stake in Imperial Hotel. Record oil prices lifter Inpex. Sharp rise in metals prices helped stocks of metals trading and mining companies.
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Stocks in London closed lower but metals surged in international trading. FTSE 100 index edged 0.5% lower on weakness in financial stocks. Northern Rock fell 28% after the UK governement said that all new depoist account will not be protected by the government. Alliance Leicester fell 8% on the news. Carnival led the gainers in the index with a rise of 7% on earnings. Miners Kazakhmys, Anglo American, and Antofagasta jumped on rising copper and zinc prices.
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Dollar declined to historic levels against several currencies lifting metals prices and stocks of commodities companies. Dollar fell to a three-decade low against Canadian dollar, fell below $1.40 mark against euro, and reached a nine-year low against Indian rupee. Goldman Sachs earnings jumped 79% and that at Bear Stearns fell 61%. ConAgra reported earnings rise of 10%. Nickel soared 10%, zinc jumped 5% and gold closed 1.4%. Oil closed above $83, record high for the fifth day in a row.