- 123jump.com Staff
- 26 Dec, 2007
- New York City
U.S. stocks traded sideways on weak holiday sales, rising energy prices, and falling home prices. MasterCard report on holiday sales showed 2.4% increased when gasoline sales were excluded. S&P/Case-shiller index tracking ten metropolitan homes fell 6.7% in October. Earlier OFHEO index showed a smaller decline in november, which tracks larger number of markets. Oil jumped above $95 a barrel and gold avanced to $830.
- 123jump.com Staff
- 26 Dec, 2007
- New York City
U.S. stocks fell after one hour of trading on weaker than anticipated consumer spending during the holiday period. Sharp rise in gasoline price of 27% sucked consumer appetite for apparel, furniture, appliances, and jewelry. MasterCard reported 3.6% increase in spending in the holiday period but excluding gasoline sales, spending was weak. Retailers and restaurant stocks fell on the data. Asian markets closed higher. Crude oil traded above $95 a barrel on Turkish incursion in Kurdistan.
- 123jump.com Staff
- 26 Dec, 2007
- New York City
Shanghai Automotive Industry and smaller rival Nanjing Auto merged after China encouraged industry consolidation. Chinese auto industry is expected to grow to 8 million units in 2008 and has 45 automakers. The fiercely competitive industry is long anticipated to consolidate and foreign makers add capacity for the local market. Toyota and Volkswagen expect to increase capacity by 10% in the next year.
- 123jump.com Staff
- 26 Dec, 2007
- New York City
Asian stocks closed higher on optimism of better than expected sales during the holiday period in the U.S. and rising expectations of earnings for the current quarter. India and Indonesia led the region on local buying. Dollar edged higher against yen but bearish outlook for the dolar continued for the year 2008. Australia and Hong Kong markets were closed today.
- 123jump.com Staff
- 24 Dec, 2007
- New York City
European stocks closed higher led by a rise in FTSE 100 in London trading of 0.7%. Intensa Sanpaolo agreed to a settlement of 420 million euros with Parmalat over its 14 billion debt fraud and subsequent bankruptcy filing. Capgemini rose 11% after news report that India based wipro may bid for the consulting company. Miners and defense stocks rallied in London. All-business class airline MAXjet filed for bankruptcy protection in the wake of competition from American Air and higher fule cost.
- 123jump.com Staff
- 24 Dec, 2007
- New York City
U.S. stocks edged higher after a rally in retail and financial brokerage stocks. Merrill Lynch sold it commercial finance division to General Electric and receed a total of $6.2 billion investment from Singapore and Davis Fund. The news on the investment lifted brokerage stocks. Retail stocks rallied on the hopes that holiday sales looked better than earlier forecats. Oil jumped above $94 a barrel. Asian and European markets closd higher.
- 123jump.com Staff
- 24 Dec, 2007
- New York City
Merrill Lynch added 4% after asset sale and investment from two investors. Merrill sold its commercial finance division to General Electric with asset base of $10 billion. Merriill expects the sale will allow it to deploy $1.3 billion for other activities. Merrill also accepted $4.4 billion in investment with one-year lock up from Singapore controlled fund with an option to add $600 million more. Davis Advisors controlled fund has agreed to purchase $1.2 billion in stocks.
- 123jump.com Staff
- 24 Dec, 2007
- New York City
The U.S. averages advanced led by the optimism that holiday retail sales will be better than earlier forecasted. Nasdaq, Dow, and S&P 500 inched 0.5%. Merrill Lynch added 4% after it received investment from Singapore and Davis Fund in New York. Target added 2.5% after activist investor Ackman raised his stake in the company to 10% from 9.6%. Asian markets surged led by a sharp rise in India, Hong Kong, and China.
- 123jump.com Staff
- 24 Dec, 2007
- New York City
Asian markets closed sharply higher led by a surge in India, Hong Kong, and Shanghai. India soared 3.6% on the strength in local election victory of pro-business party BJP. Banks and infrastructure stocks gained. Property stocks in Hong Kong advanced after talks of another interest rate cut in the U.S. made rounds. Brokerage stocks led the rise in Shanghai trading. Mining stocks led the rise in Australia.
- 123jump.com Staff
- 21 Dec, 2007
- New York City
European markets advanced for the second day in a row after metal and energy prices advanced. Philips agreed to buy Respironics for 3.6 billion euros and Russia based Vimpel Communication purchased Golden Telecom for $4.3 billion. Alitalia management favored a bid from Air France-KLM Group over that from domestic emerging carrier Air One. British pound fell to a 8-year low against euro on the interest rate outlook. France and Germany led the gaiers in the region with a rise of 1.7%.
- 123jump.com Staff
- 21 Dec, 2007
- New York City
ASX 200 index fell 1.1% or 70 to close at 6,4247. Largest explosive maker, Orica plans to expand its explosive manufacturing capacity after the rival Dyno Nobel stops from buidling another plant. Japanese investor paid A$202 million for Park Hyatt hotel managed by fund management company MFS. Centro Properties Group fell further after it said that it plans to sell asset to cover debt obligations.
- 123jump.com Staff
- 21 Dec, 2007
- New York City
U.S. stocks clsoed sharply higher on takeover deals of $10 billion earnings from RIM. Nasdaq led the three popular indexes with a rise of 1.9% followed by increases in S&P 500 of 1.7% and in Dow Jones of 1.6%. Tech stocks rose for the second day after Research in Motion reported 100% rise in sales and earnings. Gold jumped $12 and oil closed above $93 per barrel. Circuit City plunged 27% after reporting wider loss. walgreen surged 6% after reporting higher earning
- 123jump.com Staff
- 21 Dec, 2007
- New York City
Vimpel Communication, first Russian company to list on the New York Stock Exchange, agreed to buy voice and telecom services provider Golden Telecom. Vimpel is the largest mobile telecom operator in Russia and CIS countries and Golden Telecom operates in several cities in Russia and neighboring countries. Vimpel jumped 3% after the news of the deal and Golden Telecom increased 2%.
- 123jump.com Staff
- 21 Dec, 2007
- New York City
Philips Electronics has agreed to pay $5.1 billion or $66 per share of Respironics. Respironics provides treatment for sleep disorders which are estimated to affect 6% of the population in the U.S. Philips home healthcare division has made a number of acquisition this year and now care about one million people through various services in the U.S.
- 123jump.com Staff
- 21 Dec, 2007
- New York City
U.S. stocks opened higher after solid earnings from Research in Motion and talks of investment of $5 billion in Merrill Lynch from Singapore sovereign fund Temasek. S&P 500, Nasdaq, and Dow rose more than 1% in the morning trading. Circuit City plunged after it reported loss of more than $200 million. Walgreen jumped 7% after it reported higher earnings.