- 123jump.com Staff
- 30 Jan, 2008
- New York City
UK stocks declined 0.8% or 47.90 to 5,837.30 after the mortgage approval fell in December, the largest decline in nine years. Mervyn King was reappointed as the Bank of England Governon after his term expires in June of this year. The Bank of England released in its Lending to Individuals Report today that loans granted for purchase to individuals plunged from 81,000 in November to 73,000 in December against the estimate of 79,000.
- 123jump.com Staff
- 30 Jan, 2008
- New York City
ASX 200 index declined 1.7% or 97.8 to close at 5,618.70. BHP Billiton today signed an agreement with China''s leading steelmaker Baosteel to supply an additional 94 million tons of iron ore at a price that is to be determined. MFS, fund manager froze one of its funds for six months to prevent run on the fund. Woolworth sales rose 8.3%, less than projected. Lihir Gold production in 2007 rose 7.7% to 701,000 ounces.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
ASX 200 index declined 2.5% or 168.1 to close at 5,716.50. The Preliminary market turnover was 1.84 billion shares worth $6.73 billion, with 515 shares moving up, 723 moving down and 308 unchanged. Building, automotive and plastic products maker, Nylex share shed 17.5% today after an interested private equity firm withdrew its takeover proposal.
- 123jump.com Staff
- 30 Jan, 2008
- New York City
Financial markets remain under considerable stress, and credit has tightened further for some businesses and households. Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets.
- 123jump.com Staff
- 30 Jan, 2008
- New York City
U.S. stocks edged lower ahead of Fed rate decision in the afternoon and more sub-prime losses. UBS reported $14 billion write-down realted to loan losses, $4 billion higher than estimated, turning profit for the year into a loss. BNP reported smaller, but not previously announced loss. UPS reported a loss on one-time contribution to a pension plan and Yahoo fell 10% on the continued weakness in the search related business.
- 123jump.com Staff
- 30 Jan, 2008
- New York City
Stocks fell in Hong Kong on profit taking ahead of the U.S. Federal Reserve decision on interest rates today and as chairman of Henderson Land Development Lee Shau-kee lowered his forecast for the rise in Hang Seng by 22%. Chairman''s comments are widely followed by investors.
In Hong Kong trading Hang Seng Index dropped 2.6% or 638.11 at 23,653.69, while the China Enterprises index of H shares declined 4.7% or 623.77 to 12,755.41.
- 123jump.com Staff
- 30 Jan, 2008
- New York City
Stocks in Asia and Japan faltered after the worries related to weakening subprime credit markets in the U.S. resurfaced. IMF lowered the global economic growth forecast for 2008. December industrial production index rose, but at a lower rate then estimated. METI also added that production in January and February is likely to trend lower, sparking worries that expected recovery from the housing market slump may take longer than estimated.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
UK stocks edged higher on rate cut speculation in the U.S. and hopes that CVRD in Brazil will offer a bid for mining company Xstrata. FTSE 100 index gained 1.66% or 96.30 to 5,885.20. Miners and financials lifted stocks in the U.K. BSkyB was ordered to lower its stake to 7.5% from 17.9% in the broadcasting company ITV. TUI Travel raised its annual savings forecast to 150 million pounds. Mitchells & Butlers reported 274 million pounds loss in hedging position related a property unit.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
Industrials, mining, and financial stocks led rally across Europe and lifted stocks in Paris by 1.9%, in London and Zurich by 1.6%, and in Frankfurt by 1.1%. Broker recommendations lifted stocks of AP Moeller- Maersk, Siemens, and MAN. Luxottica q4 sales increased 7.1% on retailer Oakley acquisition. IMF lowered its 2008 economic growth forecast for Europe by 0.5% to 1.6%. Societe Generale rises on BNP bid speculation and Sarkozy assertion that executives should face consequencies for losses.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
U.S. stocks edged higher for the second day in a row in anticipation of additional rate cut tomorrow. The U.S. House of Representatives passed $146 billion economic stimulus package and sent to senators to review it. 3M, Valero, and Zimmer Holdings rise on earnings. EMC and VMware decline on earnings. European markets closed higher led by miners, financials, and tech companies. Countrywide Financial reported a loss of 79 cents per share. Fourth quarter profit at Yahoo dropped 23%.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
U.S. stocks traded in a narrow range ahead of the rate decision from the Fed. IMF lowered its outlook for global grwoth forecast on the expected economic slowdown in Japan, U.S., and select European nations. U.S. durable goods orders rose 5.2% in December. Countrywide reported a loss of 79 cents per share, sharply lower than its estimate of a profit between 25 cents and 75 cents. American Express earnings declined 9.9% on higher loan loss reserves.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
The International Monetary Fund lowered its global economic growth target in 2008 to 4.1% from 4.4% estimated earlier in October of last year. IMF estimated that world economies rose at 4.9% in 2007. The IMF estimate may prove to be too rosy if the U.S. economy slows down at a faster pace as unemployment rate picks up. U.S. economic growth is lowered to 1.5% from 2.2%.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
Stocks in Mumbai traded lower after the Reserve Bank of India left the rates unchaged. The Sensex Index 30-share BSE Sensex declined 0.34% or 60.84 at 18,091.94. The S&P CNX Nifty slid 16.5% or 1,076.30. Property and banks stocks had advanced ahead of the rate cut expectations. The RBI issued positive economic assessment and said that the impact of the U.S. recession on India will be limited.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
Stocks in Hong Kong edged higher after losing 16% in January. Hang Seng index jumped 238.20 or 1.0% to close at 24,291.80 and China Enterprises index added 0.5% to 13,379.18. Property, banking, and energy related companies rallied. Market built expectations of another rate cut at the end of the U.S. Fed meeting tomorrow. Sun Hung Kai added 4% and Cheung Kong Ltd increased 2%. China Oilfield projected 95% rise in 2007 earnings and China Life expects earnings to rise 50%.
- 123jump.com Staff
- 29 Jan, 2008
- New York City
Tokyo stocks rallied on the back of higher closing in the U.S. stocks and firmer trading this morning in Europe. Expectations of an additonal U.S. rate cut were building in Tokyo. Separately, India left its rates unchanged. Statistics office in Japan released December monthly household income and expenditure data. Monthly income fell 1.8% and expenditures rose 2.2% in real terms. December unemployment fell to 3.8%.