- 123jump.com Staff
- 20 Sep, 2007
- New York City
Sensex in Mumbai, India trading gained 0.2% to 16,354.06, record close for the second day in a row. Turnover on two exchanges BSE and NSE was at elevated level. Rupee traded higher against dollar for the second day in a row, and reached a nine-year high to 39.76. Real estate stocks soared led by DLF and Unitec. Reliance Energy is planning to raise $12 billion to fund coal mine acquisition in Africa and Indonesia. Sofware exporters Infosys, Wipro, and TCS lost more than 2%
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Nasdaq Stock Market Inc, Borse Dubai, and OMX of Sweden have entered in a three way deal that can global impact in the world of financial infrastructure. The three way deal sells Nasddaq 28% stake in London Stock Exchange to Borse Dubai. Dubai will acquire OMX and sell its stake to Nasdaq and acquire 19.9% stake in the U.S. based exchange. The complex deal, though agreed, requires approval from the U.S. authority. Qatar, rival bidder for OMX is still considering to offer higher price for OMX.
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Bear Stearns earnings declined as market had expected. Third quarter earnigs declined to $171 million from $438 million. The revenue fell 37.5% to $1.3 billion from $2.1 billion a year ago. Net revenue in fixed income group fell 88%. Wealth management recorded negative earnings of $38 million compared to $233 million. Global clearing services revenue increased 30%.
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Goldman Sachs earnings jumped 79% on revenue increae of 63% to $12.4 billion. The strong revenue increases in financial advisory, investment banking, principal trading were reported. Underwriting revenue increased only 8%. Stock jumped $5 in pre-market trading. Separately Bear Stearns earnings fell 61%.
- 123jump.com Staff
- 20 Sep, 2007
- New York City
Nikkei 225 index edged up a fraction as weakness in consumer lenders and tech stocks closed lower. Land prices in Japan rose 1%, a first rise in sixteen years, and decline in residential prices slowed to 0.7% from 2.3%. The manufacturing survey indeicated that manufacturing companies plan to increase capital investment by 6.3%. Rising metal prices lifted stocks of metal trading companies. Japan steel production gained 3.7%.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Stocks in New York rallied for the second day in a row after aggressive rate cut by the Fed. European markets closed sharply higher and in the onvernight trading Asian markets surged. U.S. permitted Fannie Mae and Freddie Mac to increase loan portfolio by 2%. Oil closed at record level for the fourth day in a row. Higher price of copper and other metals lifted resource stocks.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Stocks in London rallied, reflecting global rise in markets. The surprise rate reduction, of 0.5% in the U.S.,lifted European and Asian markets. FTSE 100 index jumped 2.8% to 6,460 at close. Troubled lender Northern Rock fell 16% after speculations that the bank is likely to be acquired at a price lower than its book value. Oil traded higher in London. The Bank of England reversed its earlier stance and said that it is prepared to add 10 billion pounds in liquidity.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Sensex in Mumbai, India trading soared 653 points or 4.2% to close at record level of 16,322.45. The interest rate cut in the U.S. rocketed most indexes in India and across Asia. On a sharply high turnover stock rallied in financial, realty, and industrial sectors. of the thirty stocks in te BSE 30 index, every member closed higher. Infosys denied the rumors that it is in talks to acquire UK based Sage Group or France based Cap Gemini.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Stocks in Australia got a boost from a rate cut in the U.S. and no change in rate in Japan. ASX 200 Index gained 2.6% to 6,356.10. Australian dollar recovered 2.5% from the recent losses and managed to close at 85.43 cents to one U.S. dollar. The Australian dollar is expected to strengthen as dollar declines for the rest of the year. Yield on 2-year Australian note rose 1 basis point to 6.28%. Gold and metals mining stocks led the rise in index stocks.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Stock index futures in New York are indicating higher opening. Oil is trading near record level and gold in international markets traded higher. Asian markets surged across the region on 0.5% rate cut in the U.S. The Bank of Japan left the rate unchaged at 0.5%. Morgan Stanley reported 17% decline in earnings on 13% drop in revenue. India surged 4% leading the Asian region. European markets are up more than 2% across the region at mid-day trading. August CPI dropped 0.1%.
- 123jump.com Staff
- 19 Sep, 2007
- New York City
Stocks in Tokyo soared on the rate cut in the U.S. and the Bank of Japan leaving the rates unchanged. Nikkei 225 index surged 3.67% and Topix index added 3.8% after the news. Cosmo Oil, refiner, sold 21% stake to a company controlled by UAE government. Financial stocks led the rally. Markets across Asian surged led by a sharp rise in Hong Kong, Australia, and Singapore.
- 123jump.com Staff
- 18 Sep, 2007
- New York City
Stocks in New York soared after the aggressive rate cut of 50 basis points by the Fed. The preemptive action is expected to prevent economy from sleeping to receission, but may add to long term inflation. After the rate cut stock market jumped more than 2.5% but gold jumped 1.6% to a 27-year high. Oil closed at third record close in a row. Dollar fell 1.6% against euro, record low close. Brazil surged 4.5% and the Bank of England added liquidity to the systems after refusing to do so for weeks.
- 123jump.com Staff
- 18 Sep, 2007
- New York City
Stocks in London tradig recovered on the back of rising financial stocks. The UK government assured that it will protect all depositors with Northen Rock. The Bank of England, which has been reluctant to add liquidity in the financial system, said that it has provided $8.8 billion in emergency lending at 5.75%. Standard Chartered Bank has agreed to purchase American Express banking division with licenses in India and Taiwan. UK inflation in Augst fell.
- 123jump.com Staff
- 18 Sep, 2007
- New York City
The Fed lowered its target for fed fund rates by 50 bais points to 5.75%. The Fed, bowing to the pressure from investors and Wall Street, lowered the rate to maintain orderly conduct of the credit markets. The Fed statement cited that the readings on core inflation have improved but it promised to monitor inflation closely. The Fed appears to be concerned tha fallout from the malaise in the financial markets may affect broader economy. Dollar may be take brunt of the Fed action.
- 123jump.com Staff
- 18 Sep, 2007
- New York City
Australian stocks fell for the second day of this week on global credit worries. Rising oil price falied to lift averages. ASX 200 fell 1.2% reflecting general trend in Asian markets. Australia lowered its estimates of October harvest by 31% lifting wheat prices to record level. Australian dollar dropped nearly 1% against the U.S. dollar. Aussie dollar has been under pressur as carry traders shift their currency mix borrowing. Strength in gold price lifted gold companies stocks.