Author: 123jump.com Staff
123jump.com
Last Update: 5:25 PM EDT August 20 2007
Averages in New York were volatile with banks and brokerage stocks traded lower. KKR Financial sold a stake in the company to increase liquidity. Countrywide plans to reduce staff in its mortgage unit and Capitol One said that it will close its mortgage division. Oil fell. European stocks closed higher. Asian markets rallied. Lowe''s reported 9% jump in earnings. HSBC is in a deal to buy 51% stake in Korea Exchange Bank. Nasdaq to sell its stake in LSE and plans to revise bid for OMX.
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