- Elena
- 28 Aug, 2007
- New York City
The Conference Board released its report on consumer confidence in the month of August, showing that its consumer confidence index fell roughly in line with economist estimates. The report showed that the consumer confidence index fell to 105.0 in August from a downwardly revised 111.9 in July. Economists had expected the index to drop to 104.5 compared to the 112.6 originally reported for the previous month.
- 123jump.com Staff
- 28 Aug, 2007
- New York City
In volatile and thin trading Nikkei 225 index in Tokyo declined. The weak housing market report kept investors nervous. The Ministry of Finance completed $7 billion worth of 20-year bond sales at 2.1%. The auction drew lower response from securities companies. Yen advacned against euro and dollar. Tokyo Stock Exchange launched its first gold ETF. In Asian trading Singapore and Hong Kong led the decliners.
- Elena
- 28 Aug, 2007
- New York City
Wall Street declined at opening for a second day Tuesday, with investors nervous before a likely drop in consumer confidence and commentary from the Fed Reserve. Market sentiment was additionaly hurt by losses in the shares of three giant investment banks. Citigroup, Lehman Bros and Bear Stearns declined after Merrill Lynch cut its rating on the stocks to neutral from buy, citing the impact of debt market exposure.
- Elena
- 28 Aug, 2007
- New York City
U.S. stock futures looked inclined to lower opening Tuesday, reflecting nervousness ahead of consumer-confidence data and fears that financial markets turmoil will spill over into the broad economy. The Conference Board''s gauge is expected to have dropped sharply. A broker downgrade of three giant investment banks further weighed sentiment down. Citigroup lost 1.2%, Lehman Bros dropped 2.6%, and Bear Stearns slipped 2.9% after Merrill Lynch cut its rating on the stocks to neutral from buy.
- Elena
- 28 Aug, 2007
- New York City
The purchase price represents a 17% premium to PolyMedica''s closing stock price Monday. The combined company, Medco-PolyMedica, will serve 3.8 million diabetes patients under treatment. The transaction, which is expected to complete late this year, was unanimously approved by the boards of both companies.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
July home sales in the U.S. fell 9% from a year ago and unsold home inventories jumped nearly to 10-month supply. Countrywide and home builders including Lennar, Beazer, Toll Borthers dropped 5%. Tiffany, jewlery is reported to be in a deal to sell its Tokyo retail location for $318 million. European markets edged higher as traders interpreted that ECB may not revise rates next week. India, Hong kong led Asia with 3% rise. Most Asian markets advanced.
- Elena
- 27 Aug, 2007
- New York City
European stock markets finished mostly higher Monday, continuing a six-session winning streak. Market gainers were led higher by engineering-services giant ABB as well as Nordic exchange operator OMX. ABB climbed 0.9% after the Swiss-Swedish company agreed to sell its oil and gas division Lummus to Chicago Bridge & Iron Co for $950 million. France closed higher by 0.4%, while Germany finished down 0.3%. London''s market was closed for a bank holiday.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
FTSE 100 in London trading closed higher in Friday trading but lost most of its early gains by the end of the day. Investors remain concerned that the credit market malaise, inflicated by the U.S. mortgage market problems, are likely to last longer than anticipated and are expected to get worst in the months to come. Northen Rock jumped 4% on buyout rumors. Homebuilders fell.
- Elena
- 27 Aug, 2007
- New York City
U.S. stock averages moved further to the downside amid concerns about the economic growth, sparked by signs of growing weakness in the housing sector. National Association of Realtors said that inventories of unsold single-family homes climbed 2.2% to 3.85 million in July, sending the inventory in relation to sales to the highest level in 16 years. Existing home sales fell 0.2% to an annual rate of 5.75 million units in July compared with 5.76 million units in June.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
Sensex surged on the first day of trading. The strength is global markets on the U.S. housing report fueled a rally in India. Local news played a key role in rally as well. Banks, cement, real estate developers, and auto stocks jumped. Communist Party maintained its opposition to a key provision in the nuclear deal with the U.S. but added that it will work with the ruling coalition partner. Take Solutions IPO increased 26%.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
Nikkei 225 in Tokyo climbed higher after losing most of the gains in the afternoon trading. New home sales report in the U.S. boosted stocks at the opening but lost most of the gains by the close on very weak trading volume. Yen weakend against dollar. Fukushiro Nukaga replaced the Finance Minister Koji Omi. Stocks in Asia rise after the new home sales report in the U.S. in nervous trading.
- Elena
- 27 Aug, 2007
- New York City
Wall Street opened Monday session in the negative ahead of existing-home sales report, expected to show continuous slow-down in the housing market. Dow member Home Depot agreed to sell off its wholesale-supply unit for $8.5 billion, which is $1.8 billion less than previously planned, signaling a harsh financing climate. The stock rose 1.8%. Another blue-chip stock, Altria Group, climbed 2% amid speculations that it is considering spinning off the overseas division of its cigarette business.
- Elena
- 27 Aug, 2007
- New York City
U.S. stock futures were trading flat on Monday, reflecting positive mood generated by takeover activity and cautiousness ahead of housing data. Acquisition deals were announced in the steel and personal computer sectors. U.S. Steel agreed to buy Canada''s Stelco for about $1.1 billion, while Taiwan''s Acer said it will acquire Gateway for $710 million, creating the world''s No.3 PC maker. In economic news, existing-home sales are expected to have fallen to 5.70 million in July.
- Elena
- 27 Aug, 2007
- New York City
The deal, which is expected to complete this year, is worth C1.1 billion ($1.04 B), or C$38.50 a share. The transaction represents 43% premium over Stelco''s Friday close of C$26.93. The deal is expected to strengthen U.S. Steel
- 123jump.com Staff
- 24 Aug, 2007
- New York City
Rally in industrial and tech stocks lifted averages in New York. A sharp rise in durable goods orders of 5.9% and in new home sales by 2.8% in July month lifted the mood. Investors braved to add 1% in indexes in the late afternoon rally. European markets closed higher led by a rise in Lafarge, Arcelor Mittal, and Carrefour. For the week, Shanghai led global markets with a rise of 13% followed by 12% in Hong Kong, 9% in Brazil, 6% in Mexico, 3% in Paris, and 2.8% Nasdaq and 2.3% in S&P, Dow.