- 123jump.com Staff
- 12 Sep, 2007
- New York City
Prime Minister Shinzo Abe in Tokyo resigned after a heavy defeat in election six weeks ago. The Liberal Democratic Party general secretary Taro Aso is likely to be elected as the next leader of the party and lead the country as well. Nikkei 225 index in Tokyo fell 0.5% on the surprise resignation. Sharp division in the party and in the Diet on the country''s role in the U.S. led terror campiagn contributed to his downfall.
- 123jump.com Staff
- 11 Sep, 2007
- New York City
Investors in New York lifted stocks highe in the hope that global economic growth will lift earnings of the U.S. companies. Rapid rise in oil consumption in India and China pushed oil to a record close. Gold and oil jumped 1%. European marekts closed sharply higher on strenght in the U.S. and Asian markets. McDonalds reported same store sales rise of 8.1% in August. Western Digital revised the outlook for the quarter.
- 123jump.com Staff
- 11 Sep, 2007
- New York City
UK stocks rebounded on rising financial stocks. European markets and Asian markets closed higher as well. July UK trade deficit jumped to 4.4 billion pounds. UK retailers French Connection and Next warned that tougher times may lie ahead as consumer spending may decline in the coming months. Tesco ralliied 4% after a broker upgrade. Rising metal prices lifted mining companies. Rio Tinto and BHP gained 4%. Financial Times Deutschalnd stake held by Pearson may be sold.
- Elena
- 11 Sep, 2007
- New York City
European stock markets finished notably higher Tuesday, gaining ground after recent decline on hopes for U.S. interest-rate cuts as well as continuous strength in the tech sector. Commodities shares also posted strength. BHP Billiton and Rio Tinto Group led mining shares higher, moving up about 4% each. Across the region, the U.K. surged 2.4%, France climbed 1.7% and Germany rose 1.1%.
- Elena
- 11 Sep, 2007
- New York City
U.S. stock futures continued to post solid gains after Fed Reserve Chairman Ben Bernanke gave no clues about possible interest-rate cuts next week. In his speech before the German central bank, Bernanke pointed out the need for international cooperation toward economic stability. The Nasdaq was boosted by drug makers ImClone Systems and Bristol-Myers Squibb after they said their drug Erbitux improved the survival rate of lung cancer patients. McDonald''s led the Dow up with a gain of 4.3%.
- Elena
- 11 Sep, 2007
- New York City
Fast-food giant McDonald''s jumped 3% on a strong rise in August sales boosting the Dow Industrials higher. Wal-Mart Stores also contributed to the strength posted by the blue-chip average. The stock rose 0.7% after the retailer cut its Q2 profit by $153 million, due to expenses from selling its German retail operations.
- 123jump.com Staff
- 11 Sep, 2007
- New York City
Sensex in Mumbai traded sidways after a week of declines. Ministry of Power has asked the government to allow local utiliies to borrow in the international markets. Jindal Steel & Power jumped 5% after the Bolivian Senate approved the joint venture between the government and the company. Blue Dart Express added 3% after the company plan to spend 1,000 crore rupees to add fleet of cargo planes. Relinace Industries reached a new intra0day high of 2,007 rupees.
- Elena
- 11 Sep, 2007
- New York City
Wall Street rallied at opening ahead of Fed Reserve Chairman Ben Bernanke''s speech, with investors looking for clues about a possible interest-rate reduction. The Dow industrials rose nearly 100 points boosted by fast-food giant McDonald''s Corp. Company''s stock jumped 3% on a strong rise in August sales. Dow member Wal-Mart rose 0.4% after the retailer cut its Q2 profit by $153 million, due to expenses from selling its German retail operations.
- 123jump.com Staff
- 11 Sep, 2007
- New York City
Stock in Tokyo recovered as buyers returned for energy, trading, and property stocks. Nikkei 225 index gained 0.7%. Of the stocks in index, 146 gained and 73 fell. Machinery orders jumped 17% in August, reflecting rising capital spending plans from businesses. Various ministries have submitted a budget for the next fiscal year totaling 7.3% increase. Japan Post will be provatized and split into four companies on October 1st.
- Elena
- 11 Sep, 2007
- New York City
U.S. stock futures were pointing higher Tuesday, benefiting from gains in overseas equity markets. Investors remained focused on interest-rate cuts, awaiting a speech from Federal Reserve Chairman Ben Bernanke. Among pre-market highlights, Wal-Mart Stores said late Monday it reduced its reported Q2 profit by $153 million due to expenses from selling its German retail operations.
- Elena
- 11 Sep, 2007
- New York City
ImClone Systems and Bristol-Myers Squibb announced Tuesday that a Phase III study of the drug Erbitux along with chemotherapy increased the survival rate of lung cancer patients in a late-stage study. In the month of July, the two pharmaceutical companies said the drug failed a separate late-stage study focusing on lung cancer, with Erbitux combined with taxane and carboplatin.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Market averages in New York traded sideways as worries on the economic growth continued. The Fed officials sent mixed signals but the general tone of the comments remained upbeat. However, investors are increasingly coming to a conclusion that the Fed action may not change the weak sentiment in the market. Oil jumped 1% in trading and for the year has surged 27%. Gold closed higher for the third day in a row. Brazil fell 3.5% and in the overnight trading Japan and Korea lost more than 2%.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Stocks in London trading declined reflecting weakness in European trading. Traders remain worried that economic grwoth may slow down as the U.S. housing market remains on the edge. FTSE 100 index lost 0.9% to close at 6,134. Prime Minister Brown said that salaries of government emplyees are not likely to be increased. Associated British decllined after its discount retailing unit Primark reported lower profits. Sugar unit reported better than expected earnings.
- albena
- 10 Sep, 2007
- New York City
European stock markets closed lower on Monday, continuing a downward trend from the previous week when investors sold off stocks with a high proportion of debt or exposure to the U.S. subprime crisis. Leading losers included companies related to the construction sector, such as Acciona and Vinci. Across regional markets, the U.K. dropped 0.9%, while both France and Germany ended down 0.8%.
- 123jump.com Staff
- 10 Sep, 2007
- New York City
Sensex in Mumbai trading edged higher on strength in brokerage, banks, and cement companies. Motilal Oswal priced its IPO at the high end of the filing range at 825 rupees. The issue is oversubscribed by 27 times. Software export companies declined on the worries that the economic slowdown in the U.S. will slow earnings grwoth. Aptech gained after Bear Stearns of the U.S. lowered its holding in the company. Gammon India may suffer financial damages afte a collapse of a bridge in Hyderabad.