- 123jump.com Staff
- 09 Oct, 2007
- New York City
U.S. stocks closed higher after the Fed minutes showed that the Fed believes inflation is under control and is prepared to act to support economic growth. The 50 basis points rate reduction is widely percieved as a gift to Wall Street. The preemptive action by the Fed was partly based on weak August employment report which was revised to 89,000 new job additons from a decline of 4,000 after the rate cut. European and Asian markets closed higher. Oil rebounded.
- 123jump.com Staff
- 09 Oct, 2007
- New York City
The surge of 4.5% in the Sensex Index in Mumbai, India led the global markets. The possibility of an agreement between two factions in the ruling coalition, led investors to bid up stocks. Every member in the Sensex index of 30 stocks gained. S&P projected eocnomic growth of 9% in 2007 and 8.8% in 2008 in India. Reliance Industries jumped 8% and Reliance Energy soared 11%. Bharti Telecom and Maruti Suzuki jumped as well.
- 123jump.com Staff
- 09 Oct, 2007
- New York City
Asian stocks rallied led by a sharp rise of 4.5% in India. China, Hong Kong and other smaller markets in Asia gained as well. Nikkei 225 in Japan increased 0.6% to 17,159.90 on the strength in real estate and exporters. Weak metal prices hurt steel and other metal companies. The Bank of Japan started its three-day meeting to decide the interest rate. Toray Industries, carbon fiber products maker, decided to expand its capacity in Japan and spend 25 billion yen.
- 123jump.com Staff
- 09 Oct, 2007
- New York City
Molson Coors and SAB Millier have agreed to merge their U.S. operations into a new company called MillerCoors with sales of $6.6 billion. As more people prefer craft or imported beer and choose wine over beer, beer companies are consolidating at a rapid pace. SLM sued its bidders and asked to carry out the bid at $60 per share or pay $900 million. India surged 4.5% to a record high and led Asian markets. European markets are trading higher. Stocks in New York are indiacting higher opening.
- 123jump.com Staff
- 08 Oct, 2007
- New York City
Stock markets in New York closed mixed. In the U.S., Textron agreed to purchase United Industrial for $1.1 billion. In Europe, SAP agreed to acquire Business Objects for 4.8 billion euros, Vodafone acquired telephony business in Spain and Italy of Tele2 AB of Sweden, Shire Pharmaceuticals sold its eight drugs portfolio to Almirall of Spain. The largest bank takeover, ABN Amro shareholders approved the bid of 72 billion euros or $101 billion from RBS led investor group.
- 123jump.com Staff
- 08 Oct, 2007
- New York City
UK stocks declined 0.8% led by a weakness in mining and metal stocks. RBS led group received shareholder approval for its 72 billion euro bid for ABN Amro. The three-bank led group will carve out the operations in Brazilian and Italian unit, Dutch business, and investment banking and Asian operations. Northern Rock jumped 8% on the news that Citigroup is liklely to arrange 10 billion pound financing.
- 123jump.com Staff
- 08 Oct, 2007
- New York City
Sensex in India declined for the third day in a row after a steady rise in the previous ten sessions. Sensex fell 1.6% on the worries that the disagreement in the ruling coalition on the nulcear accord with the U.S. may lead to early elections. The Congree led coalition has been shaky but has managed to push ahead with reforms and economic growth has stayed above 9%. DLF will replace Dr Reddys in the BSE Sensex index. Steel companies led the gainers.
- 123jump.com Staff
- 08 Oct, 2007
- New York City
In the pre-market trading indexes in New York are pointing lower opening and European markets are trading slightly lower. Asian markets closed higher led by a rise in Shanghai, Philippines, and Thailand. Oil futures are showing a drop at the opening between 1% and 2%. SAP is in a deal to buy Business Objects for 4.8 billion euros or nearly $7 billion. Vodafone is in a deal to acquire Spanish and Italian assets of Tele2 AB. Akzo, the Dutch chemical maker raised its dividend by 45%.
- 123jump.com Staff
- 05 Oct, 2007
- New York City
U.S. September employment report showed a healthy gains in payroll lifting the market indexes in the U.S. and Europe. Dow Jones reached intra-day high and S&P 500 closed at a record high. U.S. stocks gained for the fourth week in a row. Merrill Lynch will write-down mortgage bonds portfolio by $5.5 billion and report a loss of 50 cents in the third quarter. Washington Mutual said that earnings will be lowered 75% due to $975 million losses in mortgage business. Research in Motion jumped 13%.
- 123jump.com Staff
- 05 Oct, 2007
- New York City
September employment report from the U.S. Labor Department reported an addition of 110,000 to payroll and revised August estimate from a loss of 4,000 to a gain of 89,000. The strength in the labor market, quickly lifted market mood at the opening and helped indexes in European trading. Retailer, home builders, and consumer cyclicals gained at mid-day trading. Research in Motion jumped 10% after reporting a eanings of 50 cents per share. Merrill Lynch to take $5 billion charge.
- 123jump.com Staff
- 05 Oct, 2007
- New York City
Tokyo stocks fell 0.2% for the day but added 1.7% for the week. Of the 225 stocks in the Nkkei index 92 advanced and 119 declined. Japan reserve of foreign exchange surged to $932 billion after an increase of $13.4 billion in September. Softbank led the gainers in the index with a rise of 5.3% and Casio led the decliners with a fall of 19%. Casio lowered its earnings estimate for the full year by 39%.
- 123jump.com Staff
- 05 Oct, 2007
- New York City
Most major European markets posted gains in their mid-day trading session. Leading the movers was the UK FTSE Index up 0.78%, followed by the German DAX gaining 0.61%. Ahead of the release of the U.S. jobs report, the major Asian markets closed mixed, with Japanese, New Zealand, Indian, South Korean and Taiwanese markets posting losses. Japan''''''''''''''''s Cabinet Office reported a steep decline of the leading index for Japan to 30 in August from 72.27 in July.
- 123jump.com Staff
- 04 Oct, 2007
- New York City
In a lackluster trading, markets in the U.S. and Europe searched for a direction. Ahead of the earnings season and employment report, investors were cautious. The European Bank and the Bank of England left interest rates unchaged after the Federal Reserve lowered the rate by 50 basis points three weeks ago. Oil, copper, and gold rebounded after three days of weakness. Hong Kong in Asia fell for the second day in a row after closing at a new high.
- 123jump.com Staff
- 04 Oct, 2007
- New York City
The European Central Bank and the Bank of England left rates unchaged in what appears to be a coordinated move among central bankers around the world. Earlier Reserve Bank of Australia and Bank of Japan left their rates unchaged after the Fed in the U.S. lowered its rate to 4.75%. After the first thirty minutes of trading stocks in New York are trading sideways. Mariott, Family Dollar, and constellationa Brands reported earnings. Dollar is trading slightly higher.
- 123jump.com Staff
- 04 Oct, 2007
- New York City
A weakness in retailers, techology, and energy stocks draggged Japan lower after a steady rise in the last three days. Lower than expected earnings from Seven & I retailer hurt the sentiment in the sector. Tech stocks fell as well on the weakness in chipmakers. However, Elpida jumped on the news that it will sell more chips directly to customers at higher prices. Declining oil price hurt energy trading companies. Mitsubishi Corp, Mistui & Company, and Inpex declined.