Ivaylo
16 Jul, 2007
New York City
Asian stocks finished mostly lower Monday with Hong Kong dropping from a record high and Australian market declining weighed down by mining firms BHP Billiton and Rio Tinto. Japanese markets were closed for a national holiday. In South Korea, the index dipped as banking stocks were hit by the slump in the U.S. mortgage market. Worries of another policy tightening weighed on stocks in China.
Ivaylo
16 Jul, 2007
New York City
The market exhibited a range-bound trading Monday and finished with a slight gain for the third straight session. Banking, real estate and cement stocks advanced, while IT and pharma shares declined. Reliance Energy and Bajaj Auto were the top performers, ACC led cement stocks higher. Wipro, Satyam, and Ranbaxy led the decliners. Jaiprakash Associates hired Barclays Capital to sell $400 million of convertible bonds to boost cement production.
Ivaylo
16 Jul, 2007
New York City
European markets rose on Monday led by financial stocks as Royal Bank of Scotland Group impoved its 71.1 billion-euro offer for the Dutch lender ABN Amro, trying to outbid Barclays. BT increased on broker comment, while Dutch company Philips retreated after its second-quarter net income and sales just missed analyst forecasts. Around the regions, the U.K. FTSE 100 index rose less than 0.1%, the German DAX 30 index climbed 0.1% while the French CAC-40 index gained 0.1%.
Ivaylo
16 Jul, 2007
New York City
Precious metals settled lower, despite the euro hovering in record territory and the weakness of the U.S. dollar which gave a lift to gold. Copper prices edged higher in London and New York, as decreasing inventories held by the LME and worker strikes at mines around the world outweighed concerns about potential oversupply in the Chinese market. Oil prices advanced on an International Energy Agency report forecasting an increase in energy consumption in 2008.
123jump.com Staff
13 Jul, 2007
New York City
Market averages for the second day in New York closed higher. Nearly 2% rise in crude oil price lifted several energy stocks. June retail sales declined 0.9%. General Electric reported 13% rise in earnings on 12% gain in sales for the second quarter. General Electric, Amgen and Paychex increased stock buyback programs. In Asia, India, Indonesia, Korea, and Hong Kong closed at a record high. Germany and UK closed near seven-year high. Brazil and Mexico traded near record level.
Elena
13 Jul, 2007
New York City
European stock markets finished higher, lifted by strength in the shares of ASML Holding NV and Nokia Oyj. The gains followed a better-than-expected earnings report from semiconductor Samsung Electronics Co. ASML rose 1.7% and Nokia added 0.9%. German technology firm SAP added 1%. Germany advanced 0.5%, followed by the U.K. with a gain of 0.3% at, and France up 0.2%.
Elena
13 Jul, 2007
New York City
The U.S. market averages turned mixed in late-morning trading. The Dow and the S&P 500 extended the solid gains posted in the previous session, while the Nasdaq moved to the downside. Blue-chip stocks were led higher by strength in the shares of Alcoa. The aluminum giant continued recent advance, posting a gain of 4.3% after it announced it will withdraw its acquisition bid for Alcoa. General Electric added 2.3% after reporting better-than-expected Q2 revenues.
Elena
13 Jul, 2007
New York City
Wall Street started trading below the flat line Friday, reflecting profit taking after the record rally Thursday and a bigger-than-expected drop in monthly retail sales. General Electric failed to offset the negative sentiment. Dow component rose 2.8% after it announced it will exit its U.S. subprime mortgage business and lifted its buyback program to $14 billion. Among blue-chips Alcoa rose 2.6% after the aluminum giant withdrew its bid for Alcan, following a higher bid from Rio Tinto.
Ivaylo
13 Jul, 2007
New York City
London retreated from a strong start as the morning progressed, but the benchmark index is still in positive territory with strong demand for financial stocks. The strong U.S. close overnight buoyed the market. Mining stocks fell out of favor after their recent rally. Man Group leads the advancers, while Antofagasta and Lonmin are lower. By mid-day in London, the FTSE 100 was up 17 points, or 0.3%, to 6,714.9.
Elena
13 Jul, 2007
New York City
U.S. stock futures pointed modestly higher Friday, as data which showed a sharper-than-expected drop in retail sales and higher import prices offset gains in the shares of General Electric. The Dow member posted earnings in line with expectations and said it plans to exit the U.S. subprime mortgage business. It also raised its 2007 share-buyback program to $14 billion.
Ivaylo
13 Jul, 2007
New York City
Asia rallied Friday with several benchmark indexes setting record highs including Hong Kong, South Korea, Singapore, Indonesia and India. Japan also gained on strong U.S. close overnight and exporters. Miners surged tracking Rio Tinto
Elena
13 Jul, 2007
New York City
General Electric said its Q2 net income rose $5.4 billion, or 53 cents a share, up from $4.9 billion, or 48 cents, a year earlier. Company
Ivaylo
13 Jul, 2007
New York City
The market kept the buying momentum from yesterday and saw steady buying in metal stocks, together with auto and cement shares. Pharma stocks led the decliners. Hindalco, Tata Steel and Tata Motors were the best performing stocks, while TCS and Dr Reddys tumbled. Large-caps rally failed to broaden to mid-cap and small-cap stocks. Weekly wholesale inflation edged slightly higher in the last week of June. SAIL up 10%.
Ivaylo
13 Jul, 2007
New York City
Gold futures advanced on Thursday, propelled by a record low of the U.S. dollar against the euro. Industrial metals ended mostly lower with copper, aluminum and tin losing ground. Energy prices, too, declined as some refineries restarted operations, while on the Chicago Board of Trade, corn was boosted by forecasts of dry weather in the western Corn Belt. Wheat declined, while soybean prices edged higher.
Ivaylo
13 Jul, 2007
New York City
European markets rallied Friday with DAX index in Germany striking a new intra-day high with technology, chemical and financial stocks in focus. The markets in London and Paris also advanced buoyed also by the strong rally overnight on Wall Street. SAP, Nokia and Schneider Electric led the gainers, while L
