- Elena
- 10 Aug, 2007
- New York City
U.S. market averages continued to trade sharply lower but managed to pare some losses after the Fed Reserve made a second move Friday to ease the quell fears around the world by injecting another $16 billion into the market. Financial stocks posted significant losses, with Bear Stearns down 4.6%, Merrill Lynch losing 1.4% and Lehman Bros falling 2.6%. Countrywide Financial slid 8% after it said its allowance for credit losses climbed 97% from the end of last year.
- Elena
- 10 Aug, 2007
- New York City
Wall Street plunged for a second straight session, as credit markets concerns continued to generate negative mood. The Federal Reserve joint other central banks in their efforts to ease quell fears around the world by pouring cash into the markets for a second day. The Fed injected $19 billion into the banking system after the ECB added another $83.6 billion, and the Bank of Japan added $8.5 billion.
- 123jump.com Staff
- 10 Aug, 2007
- New York City
The central banks around the world were forced to act to provide liquidity in the financial systems. The most active banks, the European Central Bank and the Federal Reserve Bank in Washington have added more than $200 billion of liquidity to keep the interest rates rising above target rates. The rates in euro zone had jumped to 4.7% in the morning trading inand in the U.S. had jumped to 5.5% in the afternoon trading yesterday.
- 123jump.com Staff
- 10 Aug, 2007
- New York City
Asian markets fell sharply on psychological reasons. The fears of subprime loan losses, economic slowdown in the U.S., and credit crunch in the U.S. mortgage market affected trading sentiment. The central banks in Japan, Australia, Singapore were forced to inject liquidity in the financial systems to stem the rising interest rates. Korea led the region with a loss of 4.2%. Australia, Hong Kong, and Philippines fell nearly 3%. Chinese trade surplus in July jumped 67%.
- 123jump.com Staff
- 09 Aug, 2007
- New York City
Fears of subprime gripped the market in the last hour of trading in New York. The averages suffered steep losses with no resistance in the final minutes. Dow, S&P 500 fell nearly 3%, and Nasdaq dropped 2.2%. The Fed and European Central Bank injected liquidity in the market. Wal-Mart reported July same store sales rise of 1.9%, that at Target increased 6.1%, and at Costco advanced 7%. European markets fell 2% across the region. Shanghai closed at record level for the third day in a row.
- Elena
- 09 Aug, 2007
- New York City
European stock markets closed steeply in the red on Thursday on growing concerns of slowing global economy due to troubles in U.S. credit markets. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. France led decliners with a drop of 2.2%, followed by Germany, down 2%, and the U.K. losing 1.9%.
- 123jump.com Staff
- 10 Aug, 2007
- New York City
Tokyo index fell more than 2% with indexes in Asia fell across the region. The Central Bank had to step in to provide liquidity and stem the rsiing interest rates. Reserve Bank in Australia joined other central banks in the world to stem the rising interest rates. Shipping lines, banks, financial and brokerage companies stocks led the decliners.
- Elena
- 10 Aug, 2007
- New York City
Quarterly net income rose to $172.7 million, or 43 cents per share, up from $86.8 million, or 22 cents per share a year ago. Company
- Elena
- 09 Aug, 2007
- New York City
Renewed mortgage markets worries sent U.S. market averages sharply in the red, with the Dow sliding more than 240 points. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. Tension intensified after a move by the ECB to provide more cash to credit markets. The Fed Reserve added $12 billion to U.S. markets to help ease liquidity constraint.
- Elena
- 10 Aug, 2007
- New York City
U.S. stock futures predicted another day of heavy losses Friday, extending the steep decline from the previous session amid constantly growing credit market worries. On Friday, market received a fresh flow of cash by overseas central banks. The ECB injected 61 billion euros in a tender auction, and the central banks of Japan and Australia poured in roughly $12.5 billion. According to Citigroup, investors using quantitative strategies or computer models are experiencing a lot of difficulties.
- 123jump.com Staff
- 09 Aug, 2007
- New York City
Sensex drops 1.4% on sharp fall in afternoon tradning tracking other markets in Asia. Bhel received orders to bulid three power plants worth 2,900 crore rupees. Reliance Communication completes its private plaacement of $340 million in its infrastructure unit. Banks, IT, and cement stocks led the decliners.
- Elena
- 09 Aug, 2007
- New York City
Wall Street posted heavy losses at opening Thursday, pressured by renewed global worries about credit markets. The jitters were sparkled by news that French bank BNP Paribas suspended three funds, blaming a lack of liquidity in the U.S. subprime mortgage market. After the news, the ECB said it allocated 94.841 billion euros to 49 bidders in a one day quick tender at 4% to add liquidity to the money market.
- Elena
- 09 Aug, 2007
- New York City
.S. stock futures pointed steeply lower in pre-market trading Thursday, as credit market worries resurfaced after French bank BNP Paribas suspended three funds, blaming a lack of liquidity in the U.S. subprime mortgage market. S&P 500 futures lost 15.90 points at 1,488.00 and Nasdaq 100 futures fell 13 points at 1,986.25. Dow industrial futures gave up 115 points.
- 123jump.com Staff
- 09 Aug, 2007
- New York City
Asian markets rebounded with a third record close in Shanghai. Hong Kong fell a fraction after scoring the largest single day gain in six years. Banks lifted the indexes in the China region. Australia gained for the record day. Jobless rate in Australia fell to 4.3%. Pakistan fell sharply on the worries that emergency rule may be imposed. Korea Bank raised the rates to 5%.
- 123jump.com Staff
- 09 Aug, 2007
- New York City
Market averages in Tokyo gained for the third day in a row on better than expected earnigs and weak yen lifting export sesitive stocks. Fast Retailing surged 10% after dropping its bid for Barneys New York. Oki Elecric led the Nikkei 225 stocks with a rise of 11%. Of the 225 stocks in the index, 144 gained and 79 declined. Japan Tobacco lifted its full year earnings forecast on recent acquisition. Shanghai gained 2%, Australia added 1%, and Thailand fell 2.3%.