- 123jump.com Staff
- 25 Feb, 2008
- New York City
Hong Kong stocks edged lower in nervous trading after a sharp sell-off in Shanghai stocks. Large expected public offerings from governmet controlled companies are likely to choke liqidity in the market. Several offerings are expected to raise more than $3 billion in the next three months. Hong Kong taxpayers are likely to revecie H$40 billion of refunds, but it may take at least a year before economy will see any impetus from it.
- 123jump.com Staff
- 25 Feb, 2008
- New York City
Japan stocks rallied on the back of higher market close in the U.S. In Tokyo trading Nikkei 225 gained 3.07% to 13,914.57, and the broader Topix Index rose 2.6% at 1,355.54. China investment Corp is likely to invest $10 billion in oil refiner Inpex in Japan and follow up with more investments in the country. Aioi Insurance reported a net loss of 4 billion in the nine-month period ending in December.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Caltex Australia plunged 11% after it forecasted tighter refining margin this year prompting earnings worries. Wesfarmers reported 53.3% rise in first half profit including results from the recently acquired Coles. Sims Group reported fiscal first half 2008 profit decline of 9.5% to $102 million. Chinese steelmakers appear to reject overtures to raise iron ore prices by 71% from Rio Tinto. Takeovers Panel ruled that shareholders of Zinifex have a right to cancel their acceptance of the offer.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Latest read on wholsale inflation showed a rise to 4.35%. The rising inflation dragged banks and auto stocks during the trading. Sensex fell 2.2%, and is now 18% below for the year from the peak reached on January 10th. Reliance Communication is acquired a telecom company in Uganda and plans to spend $500 million in African acqusitions.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
RWE AG, second largest utility in Germany reported fourth quarter loss of 168 million euro compared to net income of 1.76 billion euros on nuclar reactors shutdown. RWE stock fell 6% on the news. Worldwide sales at Volkwagen rose 11% in January on higher demand in Europe and Asia. Lagardere agreed to acquire majority stake in web publishing company Doctissimo for 138 million euros. The publisher Elle wants to exapnd content focused on women and health issues.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
U.S. stocks reversed their earlier losses and managed to close higher on a rebound in the final thirty minutes. The news first reported on CNBC suggested that a group of eight banks are in the final stages of negotiaion to invest $3 billion in Ambac and help it to retain its AAA rating. Ambac surged 16%. U.S. dollar reached a nine-year low against Brazilian real and traded only 1 cent lower from its record low against euro at $1.4863.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Sandwich chain operator, after putting it up for a sale one year ago was sold for
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Stocks in London declined, led by commodity stocks and retailers after brokerages downgraded their ratings on the industry as the outlook on both the domestic and global market continue to deteriorate. In London trading FTSE 100 fell 0.74% to 5,888.50 but rose 1.7% for the week. Lloyd TSB reported second half proit increase of 10% to
- 123jump.com Staff
- 25 Feb, 2008
- New York City
The Bombay Stock Exchange acquired 26% stake in the third largest commodities trading exchange for 100 crore rupees or $25 million. Centurion Punjab Bank and HDFC have agreed to merge and form the largest network of bank branches in the private sector. Reliance Power stock rebounded above its offer price for the first time after a week of losses after the company issued five for three stocks. Anill D. Ambani will reduce his stake by 5% to 40% in the company.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
U.S. stocks fell in the morning trading and declined further in the afternoon as nervous investors faced cautious comments from bank and brokerage analysts. Sanforn Bernstein brokerage analyst said that earnings at Goldman Sachs and Bear Stearns could fall 40%. Lower investment banking fees played a significant parts in estimates revision. Comments from Merrill Lynch analyst suggested that earnings at Fannie Mae and Freddie Mac may remain depressed through 2011.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Asian stocks fell sharply as U.S. recession evidence mounted. Asian markets fearful of slump in exports from the region, decline in foreign direct investment from the U.S., and rising inflation. A sharp and sustained rise in energy and commodities prices such as copper, zinc, aluminum, and steel has put investors on the defensive. India, Japan, and Hong Kong led the decliners in the region.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
Asian stocks fell sharply as U.S. recession evidence mounted. Asian markets fearful of slump in exports from the region, decline in foreign direct investment from the U.S., and rising inflation. A sharp and sustained rise in energy and commodities prices such as copper, zinc, aluminum, and steel has put investors on the defensive. India, Japan, and Hong Kong led the decliners in the region.
- 123jump.com Staff
- 22 Feb, 2008
- New York City
KDDI plan to sell free domestic calls between familiy members sparked a telecom wars that may lower prices immediately for the most carriers. The paln will allow registered members to talk free any hour may lower revenue of KDDI by 25 billion yen. Softbank and NTT DoCoMo fell after the new rate plan. Steel companies raised sheep prices by 31% lifting steel stocks but stoked fears of rising inflation. U.S. market remained volatile as investors worried that the U.S. may be in recession.
- 123jump.com Staff
- 21 Feb, 2008
- New York City
BASF, German chemical company reported first quarter flat revenue of 14.7 billion and earnings rise of 8% to 793 million euros. Continental AG reported full year profit rose 3.9% to 1.02 billion euros on revenue gain of 7.2% to 15.9 billion euros. Not counting the recent purchase of VOD, the car parts maker, the sales rose 5.5%. Societe Generale reported record fourth quarter loss of 3.35 billion euros on write-downs and trading losses.
- 123jump.com Staff
- 21 Feb, 2008
- New York City
U.S. stocks lost gains at the opening after Cisco was upgraded and Research in Motion lifted its sales estiates of wireless devices. Gloomier than expected decline in the manufacturing survey from Philadephia Fed dragged market averages lower. The selling intensified in the last thirty minutes of trading. Sun Trust fell 5% after S&P lowered its credit outlook. Starbucks, Walgreen, UBS, Citigroup, and General
Electric closed at multi-year low.