- 123jump.com Staff
- 14 Feb, 2008
- New York City
Stocks in Japan rebounded after the economic growth in the fourth quarter exceeded expectations and better than expected January retail sales in the U.S. In Tokyo trading Nikkei 225 rose 4.3% 13,626.45, and the broader Topix Index increased 3.7%. Markets across Asia jumped between 2% and 5%. Economic growth in Japan accelerated to 0.9% in the fourth quarter from 0.8% in the third quarter despite a weak performance in construction industry.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
L''Oreal reported 8% rise in sales to 17 billion euros and 11% increase in earnings, after excluding one-time gains, to 2.04 billion euros. International sales and new fragrance launch under the Diesel brand contributed to sales. Stora Enso fourth quarter loss of 135.3 million euros and plans to close more paper mills in Helsinki. Hochtief AG, German construction company, reported annual profit of 140 million euros.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
U.S. stocks edged higher after January sales increased 0.3%, surprising the market. Weekly inventories of Crude oil rose at the end of the last week. Coca Cola earnings increased on the gains in the emerging markets. Deere reported higher sales on rising sales. Blue Nile fell 15% after it forecasted flat results for the current quarter. P F Changs, Chinese restaurant chain, edged higher on better than expected sales. News Corp and Yahoo are discussing ways to tackle Microsoft bid.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
UK housing market survey indicated continued soft market conditions according to a survey published by RICS. January survey indicated declining housing prices and rising inventories of unsold homes in January, except in Scotland. Home builders and lenders fell after the report. Unemployment fell in January by 0.2%according to ONS report, a consecutive 16-month decline.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
Corporate Goods Price Index in Japan increased to 3% in January from 2.6% in December on the rising fuel and food prices. Financial Services Administration in Japan reported that sub-prime loan exposures to the U.S. loans of Japanese banks increased in January to 1.52 trillion yen and losses in last quarter ending in December rose to 600 billion yen. Shipping line companies gained on the talks of freight charge increases.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
Mumbai market rebounded after a week of volatile trading. Banks, real estate, and energy related stocks gained. Sensex gained 2.1% to close at 16,949.14 and Nifty increased 1.9% or 91 to close at 4,929 levels. The BSE realty index surged 4.4% or 396 and was the biggest gainer among the sector indices. Unitech, Puravankara, Anant Raj Industries and Housing Development & Infra were the leading gainers.
- 123jump.com Staff
- 13 Feb, 2008
- New York City
Retail sales in January rose 0.3%, unexpectedly, lifting retail and consumer related stocks in the morning trading. weekly inventories report of crude oil showed a rise inventories by 1.1 million barrels. Deere sales and earnings rose above expectations and Coca Cola earnings rose on international sales. Online jeweler Blue Nile fell 15% after it reported lower than expected earnings rise.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
Third largest Swiss bank, Julius Baer filed with the SEC to sell its assset management unit in an initial public offering and raise as much as $1 billion through Goldman Sachs and Merrill Lynch. Credit Swiss Group reported earnings fall of 72% on Sfr1.2 billion of write downs of assets in high risk loans. sanofi-Aventis fourth quarter profit increased 6% tp 1.46 billion euros on cost cutting and higher sales of Plavix.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
U.S. stocks edged higher after an offer from Warren Buffett, chairman of Berkshire Hathaway,and Bush administration plan to help struggling home owners. Buffett offered $5 billion to extend reinsurance to $800 billion municipal bonds portfolio. Bond insurance companies did not show enthusiasm to the offer. Banks and financial stocks rallied but brokerage stocks fell in the afternoon. Oil and gold declined. Molson Coors led the gainers in the S&P 500 index with a rise of 9%.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
UK stocks rebounded on the back of rising commodities and energy stocks. The sharp gain in the financial markets in the U.S. and across the Europe helped the UK index. In [[London]] trading FTSE 100 stocks rallied 3.54% or 202.3 to 5,910. ICAP Plc led advancers with a rise of 7.16% followed by Vedanta Resources increasing 6.76% as the price of metal continued to gain on supply constraints that are currently plaguing China.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
U.S. stocks rallied after Warren Buffett made a low offer to support municipal bond reinsurance portfolio of $800 billion from three largest bond insurance companies. The U.S. also released a plan along with six major home lenders to help people who are on the brink of foreclousre, however the effort appears to be driven by political considerations. General Motors reported losses on the declining market share in the U.S.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
Industrial production in December declined to annual rate of 7.6% from 13.4%. the volatile index suffered from lower than expected output in mining, electricity, and manufacturing. For the nine months the index increased at a rate of 9.6% from 12.2%. Software companies fell as investors worried on the rising subprime losses in the U.S. New issue of J Kumar Infraprojects closed at 102.70 rupees, just above its offer price of 100 rupees.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
Warren Buffett, chairman of Berkshire Hathaway, made a low offer to reinsure $800 billion of municipal bond liabilites of three bond insurance companies, Ambac, MBIA, and FGIC. The offer was quickly rejected by one insurer and others did not show much enthusiasm. The Buffett offer includes only municipal bonds and does not cover any of the mortgage securities related liablities.
- 123jump.com Staff
- 12 Feb, 2008
- New York City
In a subdued trading in Hong Kong, stocks recovered as oil and metal prices gained in the region. Oil added 2% and copper prices increased as worries mounted that continued weather related disruptions in China may prolong. Foreign exchange reserves increased $7.2 billion to nearly $160 billion at the end of January, according to HK Monetary Authority. PetroChina and CNOOC gained 2.5% and Aluminum Company of China added 2%. Jiangxi Copper surged 4%.
- 123jump.com Staff
- 11 Feb, 2008
- New York City
Societe Generale priced its rights offering at a discount of 39%, more than expected, as investors braced for more losses in the financial sector. SG fell 4% after the issue of rights. Stocks in the sector fell after a comment from the German Finance Minister indicated that subprime loan losses could reach $400 billion. UBS and Commerzbank droped 3% and Aviva fell 4%. IKB Deutsche Bank fell 22% on the worries that bank will report more losses. Russia reported trade surplus declined by 5%.