Ivaylo
11 Jul, 2007
New York City
London fell sharply Wednesday, tracking heavy losses on Wall Street overnight as concern over U.S. mortgage market weighs heavily. Higher oil prices further eroded sentiment in oil companies. HSBC and HBOS led the decliners, while BskyB brought in some respite surging on strong customer growth. The benchmark index FSTE 100 lost 25 points or 0.4% to 6,603.2 by mid-day.
Elena
11 Jul, 2007
New York City
U.S. stock futures were indicating a lower market opening Wednesday, hurt by continued subprime loans concerns. The economic jitters were sparked yesterday by a wave of profit warnings from Home Depot and Sears Holdings along with a threat from S&P that it could downgrade credit ratings on $12 billion worth of subprime securities. Investors were also awaiting Q2 earnings releases. There are no major economic data scheduled to be released Wednesday.
Ivaylo
11 Jul, 2007
New York City
Asian markets plunged across the board on Wednesday with Japan dipping on concern about slowing U.S. housing market and the strengthening of the yen against the dollar. HK also sank declines in China Mobile and HSBC while South Korea lost on banks and brokerages. China bucked the trend and advanced on property stocks. In Australia, the market lost ground on falling mining stocks as the prices of industrial metals dipped.
Elena
11 Jul, 2007
New York City
The transaction is a 14% premium over Chaparral''s closing price of $75.69 on Tuesday. The transaction, which is subject to Chaparral shareholder approval, regulatory approvals and other customary closing conditions, is expected to close before the end of the year.
Ivaylo
11 Jul, 2007
New York City
Lowered earnings outlook from Infosys in rupees and weak trading in global markets added volatility to the Sensex. Auto and banking stocks came under heavy selling pressure, while metals, cement and oil stocks gained. Grasim and Tata Steel led the advancers, while IT stocks underperformed with Infosys leading the decliners. The Indian rupee advances may be arrested with the intervention from Reserve Bank of India.
Ivaylo
11 Jul, 2007
New York City
European markets were mostly lower Wednesday, as financial stocks saw a sell-off on sustained concern about the impact of the weakening U.S. housing market and as exporters were under pressure from plummeting U.S. dollar. UBS AG and Siemens AG led declines, while BskyB and Carrefour bucked the overall trend. The German DAX 30 index slipped 1.4%, the French CAC-40 index lost 1.1% and the U.K. FTSE 100 index declined 0.6%.
Ivaylo
11 Jul, 2007
New York City
Gold futures ended up just about $2 on Tuesday as trade sales early gave way to fund buying, although the dollar dropped to its lowest again the euro. Industrial metals plunged under the weight of disappointing guidances from major players in the U.S. housing sector. On the energy front, oil was higher as refinery problems continue to weigh on the market. In Chicago, soybean prices turned sharply higher.
123jump.com Staff
10 Jul, 2007
New York City
U.S. market faced a wave of selling led by earnings warnings from Sears and Home Depot and sub-prime mortgage bonds downgrade. Popular averages fell more than 1% on worries that more downgrades may follow. Home builders, financials and retailers led the decliners. Weakness in New York trading left most markets in Europe and Latin America lower by more than 1%. In overnight trading, South Korea and Hong Kong closed at a record high.
Elena
10 Jul, 2007
New York City
European stock markets closed in the negative on Tuesday, pressured by weak dollar and a record foreign-exchange high for the euro. Profit warning from retailer Home Depot sparked new concerns about the struggling U.S. housing market. BHP Billiton dropped 3.9%, Anglo American dropped 3.6%, and Rio Tinto Group tumbled 2.9%. Germany and France led decliners, posting a drop of 1.4%.followed by the U.K. with a decline of 1.2%.
Elena
10 Jul, 2007
New York City
U.S. stocks regained some ground in late morning trading, as investors turned to bargain hunting. However, the three major averages continued to trade below the flat line, due to significant weakness among airline, housing, and retail stocks. Sears dropped 7%, sending Wal-Mart Stores and Target down 1.7% each. Subprime worries weighed on financial companies, with Lehman Bros falling 2.5% and Bear Stearns, down 1.6%.
Elena
10 Jul, 2007
New York City
Among companies posting positive results, Pepsi Bottling Group rose 4% after it raised its outlook for full-year earnings and said Q2 profit rose 9.5% to 70 cents a share, beating estimates. Dow component Home Depot rose 1.3% although it cut its full-year earnings forecast, due to sluggish housing market. The company launched a tender offer for 250 million of its shares.
Elena
10 Jul, 2007
New York City
Wall Street opened lower on Tuesday amid unimpressive start of Q2 earnings season given by Alcoa''s earnings and slashed profit outlooks at Home Depot and Sears. Sears dropped 7% after warning that Q2 profit will decline, due to weaker sales. General Motors bucked the downward trend, rising 1.5% on a new upgrade from J.P. Morgan. Investors were also cautious ahead of speech by Federal Reserve Chairman Ben Bernanke on housing and inflation.
Ivaylo
10 Jul, 2007
New York City
The UK market is trading sharply lower as investors took profits as US futures show that Wall Street will slip at the start after Home Depot lowered earnings estimates. Miners, cruise operator Carnival and British Airways are all down, while retailers are bucking the downtrend as Marks & Spencer leads the sector higher. The benchmark index FTSE 100 lost 0.87%, and is trading at 6,654 in mid-afternoon session.
Ivaylo
10 Jul, 2007
New York City
Asian markets finished in a mixed mode on Tuesday with Japan falling as real estate stocks leading the decline on fears of a rise in interest rates. Indexes in South Korea and Hong Kong advanced as banking stocks were strong and aided the rally, while China declined on profit-taking. Australia also closed lower as resource stocks retreted from recent gains.
Elena
10 Jul, 2007
New York City
U.S. stock futures pointed to a lower opening Tuesday, reflecting unimpressive start to Q2 earnings season and worries about corporate earnings, due to lowered profit outlooks from two retail companies. Renewed housing and inflation concerns ahead of a speech from Fed Reserve Chairman Ben Bernanke also weighed. Alcoa added 0.7% in the pre-open after posting in-line-with-estimate 4% profit decline.
