Ivaylo
26 Jun, 2007
New York City
Trading was range-bound today, as the market lacked direction on an absence any real trigger. The market-breadth was strong, with mid and small caps were responsible for much of the market activity. ONGC and Bharti Airtel were the main gainers, while Ranbaxy and Wipro led the decliners. The risk for holding debt of State Bank of India advanced to a three-month high.
123jump.com Staff
25 Jun, 2007
New York City
On the first day of trading market averages around the world faced second day in-a-row of selling. Rising U.S. yields and worries related to sub-prime lending led market averages in New York to near 1% loss at mid-day trading. Goldman Sachs, Bear Stearns, and Lehman fell more than 2%. General Motors gained 2% on an upgrade from Goldman Sachs. Stocks in Europe, Asia and Latin America fell. Shanghai fell more than 3% for the second day-in-a-row. Brazilian sugar producer Cosan to raise $2b in NY.
Elena
25 Jun, 2007
New York City
European stock markets finished mostly lower on Monday, pressured by weakness among real-estate companies and mining shares. Hypo Real Estate and Unibail, each declined 1.3%. Rate concerns also hurt shares of Pendragon, with the British used-car dealer falling 16%. Antofagasta and Anglo American each dropped 1.5%, as metals prices declined. The German DAX lost 0.2%, the French CAC-40 slipped 0.3%, while the U.K.''s FTSE 100 ended up 0.3%.
Elena
25 Jun, 2007
New York City
U.S. market averages moved firmly into the positive territory after the initial lackluster trading fashion. Rate-sensitive utilities stocks stood out among the market''s best performances amid a decrease in treasury yields. Significant strength also emerged among transportation stocks, benefiting from a steep decline by the price of oil. At the same time, resource stocks showed weakness, due to lower commodities prices.
Elena
25 Jun, 2007
New York City
Walgreen reported a better-than-expected 20% profit rise in Q3, lifted by a growing market share in its top products and an increase in prescription sales. The U.S. biggest drugstore chain earned $561.2 million, or 56 cents per share, up from $469.2 million, or 46 cents per share a year ago. Revenue rose 13% to $13.7 billion from $12.2 billion last year, but fell short of expectations. Analysts had been expecting a profit of 54 cents on revenue of about $13.8 billion. The stock lost 0.7%.
Elena
25 Jun, 2007
New York City
U.S. stock markets opened above the flat line, as bond yields declined amid data showing that sales of existing homes hit a 4-year low in May, while the median home price fell for a record 10th month in a row. A broker upgrade of General Motors also generated positive sentiment. Goldman Sachs raised its rating on the stock to buy from neutral, saying there was little downside for the company''s stock. GM shares jumped 3%.
Ivaylo
25 Jun, 2007
New York City
Mining stocks were the main drag on the market by mid-day as analysts at Cazenove lowered their recommendations on Anglo American and Antofagasta on a darker guidance about the prices of copper, gold and platinum. Pendragon dipped on weaker consumer spending, while Cadbury Schweppes as lack of bidding news disappointed investors. ICI was among the few gainers as talk of Akzo Nobel sweetening its bid for the chemical group improved sentiment. The FTSE 100 dipped 0.4%.
Ivaylo
25 Jun, 2007
New York City
Asian markets fell led by BHP Billiton and Sony Corp, as well as by concerns over U.S. home sales this week, expected to show a decline, which would mean lesser interest in export oriented companies. Expectations of further tightening measures in China weighed on the Shanghai Composite Index, and in HK, China related stocks were hit the worst. In South Korea, banks led the decline.
Elena
25 Jun, 2007
New York City
U.S. stock futures pointed to a moderately higher opening on Monday, supported by a broker upgrade for General Motors and a decline in crude oil futures. Shares of the auto maker advanced 3% in pre-open trading after it was upgraded to buy from neutral at Goldman Sachs. Chevron also gained on positive analyst comment. Banc of America Securities raised its rating on the stock to buy from neutral, citing the group''s deepwater activities.
Ivaylo
25 Jun, 2007
New York City
The market saw a lackluster session today, trading in and out positive territory within a narrow band of 80 points. Later in the day fresh buying interest in Bharti Airtel and Reliance Communications helped the benchmark index close higher. BHEL and L&T led the capital goods sector to a record high, while auto and IT stocks continued their decline with Satyam and Bajaj Auto leading decliners. ONGC announced today its net profit for fiscal 2007 is up 8%.
123jump.com Staff
22 Jun, 2007
New York City
U.S. averages closed sharply lower on rising oil prices and bond yields. Oil price inched closer to $70 on the report that growth in world demand will be higher than anticipated. U.S. bond yields rose as troubled mortgage markets showed no signs of stabilizing. Largest private equity group, Blackstone priced its IPO at $31 per share and raised $4.6 billion. The stock jumped 14%. Delphi said that it is in agreement with its union and help company get investment to exit bankruptcy.
Elena
22 Jun, 2007
New York City
European stock markets finished lower Friday for a second straight session, dragged down by weak mining and banking stocks. Lonmin and BHP Billiton declined more than 1% each. The UK banking group Barclays fell 1.2%. The DAX lost 0.2% at 7,949.63, the U.K. FTSE 100 index slipped 0.4% at 6,567.40 and the French CAC-40 index inched down 0.1% at 6,023.25
Elena
22 Jun, 2007
New York City
U.S. market averages traded down in a volatile session, with credit markets and crude oil drawing attention. Continuous worries about rising interest rates, along with hedge-fund woes related to subprime mortgages, and rising crude oil prices, generated negative sentiment. The main focus Friday was the IPO of private-equity firm the Blackstone Group., whose shares jumped 15%. The offering raised $4.13 billion early, ranking as the sixth richest IPO in U.S.
Elena
22 Jun, 2007
New York City
Among tech stocks, eBay gained 3.7% amid reports that it is planning to return to the Chinese auction market this summer. In corporate news, Jabil Circuit climbed 12% after its Q3 profit exceeded analyst estimate. Cognos, a software maker and technology consultant, forecast a Q2 profit that fell short of expectations. The stock fell 4.7%.
Elena
22 Jun, 2007
New York City
Wall Street opened in the negative on Friday, pressured by rising crude oil prices and renewed concerns about rising global interest rates. Blackstone Group jumped 18% after its IPO raised $4.13 billion, pricing at the top of its estimated range as the sixth richest IPO in U.S. history. Among tech stocks, eBay gained 3.7% amid reports that it is planning to return to the Chinese auction market this summer.
