- 123jump.com Staff
- 10 Sep, 2007
- New York City
Market averages in New York traded sideways as worries on the economic growth continued. The Fed officials sent mixed signals but the general tone of the comments remained upbeat. However, investors are increasingly coming to a conclusion that the Fed action may not change the weak sentiment in the market. Oil jumped 1% in trading and for the year has surged 27%. Gold closed higher for the third day in a row. Brazil fell 3.5% and in the overnight trading Japan and Korea lost more than 2%.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Stocks in London trading declined reflecting weakness in European trading. Traders remain worried that economic grwoth may slow down as the U.S. housing market remains on the edge. FTSE 100 index lost 0.9% to close at 6,134. Prime Minister Brown said that salaries of government emplyees are not likely to be increased. Associated British decllined after its discount retailing unit Primark reported lower profits. Sugar unit reported better than expected earnings.
- albena
- 10 Sep, 2007
- New York City
European stock markets closed lower on Monday, continuing a downward trend from the previous week when investors sold off stocks with a high proportion of debt or exposure to the U.S. subprime crisis. Leading losers included companies related to the construction sector, such as Acciona and Vinci. Across regional markets, the U.K. dropped 0.9%, while both France and Germany ended down 0.8%.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Sensex in Mumbai trading edged higher on strength in brokerage, banks, and cement companies. Motilal Oswal priced its IPO at the high end of the filing range at 825 rupees. The issue is oversubscribed by 27 times. Software export companies declined on the worries that the economic slowdown in the U.S. will slow earnings grwoth. Aptech gained after Bear Stearns of the U.S. lowered its holding in the company. Gammon India may suffer financial damages afte a collapse of a bridge in Hyderabad.
- Elena
- 10 Sep, 2007
- New York City
Wall Street opened higher Monday, lifted by investor optimism that surprisingly weak employment report will lead the Fed Reserve to cut interest rates at its policy-setting meeting next week. A notable strength in the tech sector also contributed to the early gains. Intel rose 1.3% after the chip maker lifted its Q3 revenue forecast on stronger-than-expected chip demand. Advanced Micro Devices climbed 2.9% after it launched Its latest microchip, Barcelona.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Nikkei 225 index in Tokyo fell 2.2% on weak Friday closing in the U.S.and shrinking domestic economy. In the second quarter, Japan recorded annualized negative economic growth of 1.2% on lower than expected capital spending and declining public investment. Initial government estimate was 0.5% economic grwoth in the second quarter. Consumer spedning rose 0.3%, lower than 0.4% initially estimated. The Economy Watchers Index fell in August, fifth monthly decline in a row.
- Elena
- 10 Sep, 2007
- New York City
U.S. stock futures were indicating a flat opening Monday, recovering from heavy losses in the previous session inflicted by unexpected employment decline. Among companies in focus, Countrywide Financial fell over 1% in pre-market trading after the mortgage lender said it may reduce up to 12,000 jobs in areas impacted by lower mortgage-market origination volumes. Advanced Micro Devices jumped 2.7% as the chip maker launched its latest microchip, Barcelona.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
It was a reversal of psychology after the release of August employment report in the U.S. The employment declined by 4,000 in sharp constrast to forecasts from economists of increase of 100,000. The weakness in manufacturing and construction contributed to the overall decline. The payroll additions for June and July months were revised lower averaging only 44,000 increase in the last three months. Markets in the U.S. and Europe tumbled nearly 2% at close after the news.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Private report suggested that the UK economic growth slowed to 0.7% for three months ending in August from 0.9% in 3-month period in May. The five rate increases are curbing the economic growth. FTSE 100 index dropped nearly 2% on the U.S. employment report and lost 1.8% for the week. Banks and Financial lenders fell sharply. Barclays lost 4.2% and HBOS declined 2%. Advent Intnl agreed to buy Domestic & General Group for nearly 525 million pounds. Pub operator J.D. Wetherspoon dropped 6%.
- Elena
- 07 Sep, 2007
- New York City
European stock markets finished deeply in the red Friday, tracking U.S. losses amid concerns about the health of the economy, raised by weaker-than-expected U.S. jobs data. Employment in August fell for the first time in four years, well below expectations of a notable increase. Banks, auto makers and miners led the decline. Across regional markets, France posted the steepest drop of 2.6%, followed by Germany, down 2.4% and the U.K. losing 1.9%.
- Elena
- 07 Sep, 2007
- New York City
U.S. stocks tumbled while bonds surged higher following a deeply disappointing government report which showed payrolls in August fell unexpectedly for the first time in four years. The Dow Jones slipped more than 200 points. The data raised optimism that the Fed will cut interest rates by 0.25% at the central bank meeting on Sept 18. By the end of 2007, the fed funds rate is expected to drop to 4.25%. In another report, the Commerce Department said U.S. wholesale inventories rose 0.2% in July.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Stocks in Mumbai, India trading closed lower for the day but added 1.8% in the week. Robust economic activities have propeled several stocks to a new highs. Reliance and governement if India continue their difficult negotiations for natiral gas price sale. The fertilizer minister said that proposed price by Reliance is highe than government is willing to pay. DLF is planning to spin-off its DT Cinema unit. Tata Power is reported to take 15% stake power trading exchange.
- Elena
- 07 Sep, 2007
- New York City
Wall Street opened sharply down Friday, reflecting a heavy sell-off after the government reported employment in August fell for the first time in four years rather than rising as economists had been expecting. The Labor Department said U.S. nonfarm payrolls fell an estimated 4,000 in August, while the unemployment rate held steady at 4.6%. Following the jobs report the dollar fell sharply, while bonds surged. The three major averages dropped more than 1%.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Asian stocks closed mixed in the session. Central Banks in Japan and China drained liquidity from the markets. China offered 3-year bonds at 3.71% worth Rmb151 billion. Japan drained $1.7 billion from the system. Russia signed a multi-year agreement with Australia to purchase uranium. Earlier China signed a similar deal with Australia to purchase natural gas. Tokyo stocks fell nearly 3% for the week but stocks in India rebounded. Shanghai led the declining markets in the region.
- Elena
- 07 Sep, 2007
- New York City
U.S. stock futures moved steeply lower Friday, pressured by weak employment report and comments from ex Fed Reserve Chairman Alan Greenspan who said the current market situation is similar to the stock-market crash of 1987. The Labor Department said that employment in August declined for the first time since August 2003. Nonfarm payrolls contracted by 4,000 in August. The decline was much weaker than the 115,000 increase expected by economists. The unemployment rate held steady at 4.6%.