Ivaylo
19 Jun, 2007
New York City
Tesco and Vodafone led the UK market lower in mid-day trading. Tesco, the biggest retaler in the UK, reported disappointing Q1 same-store results and Vodafone weighed as there were reports that American giant AT&T was not interested in bidding for the British company. Capita led gainers on broker comment, while the rise in oil prices boosted BP. The benchmark index, FTSE 100, lost 0.4% to 6696.9.
Elena
19 Jun, 2007
New York City
U.S. stock futures recovered from earlier weakness following a report that showed a slightly smaller-than-expected drop in the pace of May home construction. The Commerce Department said that housing starts fell by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3%. However, disappointing quarterly results reported by Best Buy prevented stock futures from getting into the positive territory.
Ivaylo
19 Jun, 2007
New York City
Asian markets advanced Tuesday with industrial stocks gaining in South Korea and Japan, while China was boosted by property development shares. Leading gainers in Japan were Kawasaki Heavy, Oji Paper and Tokushi Tokai, and in South Korea Daelim Industrial and Daewoo Engineering & Construction. Stock markets in Hong Kong and Taiwan were closed for holidays.
Elena
19 Jun, 2007
New York City
The electronics retailer said its quarterly profit fell to $192 million, or 39 cents per share, from $234 million, or 47 cents per share a year ago. Revenue rose 14% to $7.93 billion, from $6.96 billion last year. Quarterly results came in below earnings estimates of 49 cents a share, but topped revenue expectations of $7.85 billion.
Ivaylo
19 Jun, 2007
New York City
The benchmark index rallied Tuesday buoyed by the FPO of ICICI Bank which was fully subscribed within an hour of sale opening. Intense buying in large-caps ONGC, Reliance Industries, Tata Steel also aided the rally. Infosys led IT stocks lower on further appreciation of the rupee. SBI was the top performer on the market, while Satyam was the worst. Sterlite Industries sold $1.75 billion of stock through the issue of American depository shares.
Ivaylo
19 Jun, 2007
New York City
European stocks gained slightly on Tuesday morning supported by oil exploration companies on the strength of oil prices hovering above $69 a barrel and on Bayer as the pharmaceutical company upped its earnings outlook. The only disappointment came from Tesco, which missed market estimates. The U.K. FTSE 100 index rose 0.2%, the German DAX Xetra 30 index increased 0.4% and the French CAC-40 index advanced 0.3%.
Ivaylo
19 Jun, 2007
New York City
Gold futures advanced slightly Monday for the third straight day as the market kept a close eye on the U.S. dollar dipping against the euro and Treasury yields holding steady. Platinum and copper prices also gained, boosted by labor unrest at major producers. Crude oil prices surged to levels unattained since September after labor unions in Nigeria called for a general nationwide strike.
123jump.com Staff
18 Jun, 2007
New York City
Merger talks in New York, Europe and Asia helped weak averages in New York trading, but at close, market averages declined. BHP is reported to consider reviving buyout plans for Alcoa. In Europe, Imperial Chemical received a bid of $14 billion. In Asia, the yen rose to a seven-year high against dollar and euro. Hong Kong and Korea closed at new high. Brazilian currency, the Real gained ground against dollar. Yahoo, in the after hours rose 9%. Terry Semel, CEO of the company resigned.
Elena
18 Jun, 2007
New York City
European stock markets finished slightly lower on Monday, despite merger-and-acquisition activity, with Akzo Nobel and rival paint producer Imperial Chemical Industries in focus. ICI jumped 15.6% after rejecting a 600-pence takeover approach from Akzo Nobel whose shares dropped 1%. The German DAX 30 rose 0.1%, while the U.K.''s FTSE 100 lost 0.4%, and the French CAC 40 fell 0.3%.
Elena
18 Jun, 2007
New York City
Stock market averages turned in a lackluster performance in late morning trading, unable to sustain the earlier gains made on the heels of merger-and-acquisition new. Market failed to extend last-week rally, despite a report that BHP Billiton is planning a bid for Alcoa. Shares of the aluminum giant rose 2.5%. Worries about the subprime sector reignited on news that a group of hedge fund managers at Bear Stearns try to line up new investors to keep a fund invested in subprime assets afloat.
Elena
18 Jun, 2007
New York City
Shares of Genesco climbed 8.3% after the footwear and accessories retailer agreed to be acquired by Finish Line in a cash-deal worth $1.5 billion. In other deal-related news, BHP Billiton is reportedly reviewing plans to make a $40 billion offer for Dow component Alcoa. Shares of the aluminum giant rose 1.8% on the news.
Elena
18 Jun, 2007
New York City
U.S. stock market advanced at opening Monday, trying to extend last-week rally on the back of deal-making news. Dow component Alcoa gained 2% after a report said that BHP Billiton was considering a $40 billion acquisition bid of the aluminum producer. Boeing also drew attention as the Paris Air Show began and the airline carrier signed two small contracts. The stock lost 0.3%.
Elena
18 Jun, 2007
New York City
U.S. stock futures posted modest gains on Monday, supported by deal speculation involving aluminum producer Alcoa. Company''s shares rose 2.4% amid reports that BHP Billiton is reviewing plans to buy the aluminum producer. Investors were also awaiting signals of whether market will continue to recover and bond yields will remain in check.
Ivaylo
18 Jun, 2007
New York City
Although the market opened Monday with a positive bias on upbeat global cues, it saw a highly volatile session and ended lower. Infosys led IT stocks lower on the further appreciation of the rupee, auto shares also lost. ICICI Bank advanced supported by its new IPO, due on June 19. The rupee advanced 0.4% against the dollar today. The latest circular issued by the CBDT on Friday, June 15 2007, did not clarify the norms on tax on profit/gain coming from the sale of shares.
Ivaylo
18 Jun, 2007
New York City
European stocks were range-bound early on Monday, with markets intent on merger-and-acquisition activity including Akzo Nobel''''s long-awaited move for rival paints maker Imperial Chemical Industries. The markets had strengthened over the past three sessions, boosted by stabilizing bond yields and a softer reading of U.S. core inflation. The FTSE 100 was steady, the German DAX 30 gained 0.6% and the French CAC 40 edged 0.1% higher.
