Ivaylo
14 Jun, 2007
New York City
Asian stocks advanced Thursday with South Korea setting a record high, while Japanese Nikkei ended higher on a weaker yen against the dollar. The Shanghai Composite Index clawed back on news that the government is considering steps to cool further down the booming economy. Strong close on Wall Street overnight lifted markets in Hong Kong and Australia.
Elena
14 Jun, 2007
New York City
U.S. stock futures indicated a flat opening Thursday, with investors eagerly awaiting economic readings on inflation. The Labor Department is due to release its producer price index, which analysts expect to show a 0.5% increase, compared to 0.7% in April. Economists predict the core PPI, which excludes food and energy prices, will advance 0.2% as it did in April. The consumer price index is scheduled to come out on Friday.
Ivaylo
14 Jun, 2007
New York City
The benchmark index opened with a strong positive bias of 85 points, tracking buoyant global indexes and touched new heights on strong demand for large-cap stocks. The rally was broad-based as there were two advancers for every decliner in the market. HDFC led the advancers on a comment from its chairman hinting at a possible hike of lending rates in the near future. There were very few decliners including Hero Honda and ICICI Bank. Employees of Indian call off their strike.
Ivaylo
14 Jun, 2007
New York City
European markets rallied for a second day with exporters and mining companies in the lead, after worries abated that interest rates will keep increasing and metal prices recovered in London. Michelin and Siemens led an advance by companies that make at least 20% of their sales in the U.S. By mid-day, Germany Xetra DAX added 1.4%. France CAC 40 and the U.K. FTSE 100 both rose 1%.
Ivaylo
14 Jun, 2007
New York City
Oil and gasoline futures rallied Wednesday after the government announced that the gasoline stockpiles were well below average for this time of year. Precious metals prices sank as the dollar strengthened. Copper prices rebounded to finish nearly 2% higher on the London Metal Exchange. In the agriculture market, wheat and corn prices rose while soybean prices retreated.
123jump.com Staff
13 Jun, 2007
New York City
Three popular averages in New York trading surged and closed at the
best levels of the day. U.S. retail sales in May rose 1.4% sparking a rally in stocks. Bond yields traded lower on the data and a read on the economy suggested healthly gains in manufacturing and labor market with little inflation. May retail sales in China rose 15.9% lifting stocks in Shanghai. Brazil GDP advanced 4.3% in Q1 supporting a rise in steel and retail stocks. European markets closed higher led by mining stocks.
Elena
13 Jun, 2007
New York City
European stock markets recovered from earlier weakness to close higher on Wednesday, boosted by strong opening on Wall Street and solid gains in the mining sector. Among mining stocks, shares in Lonmin climbed 4.8%, Vedanta Resources rose 3.5% and Rio Tinto gained 4.5%. The U.K. FTSE 100 advanced 0.6%, the French CAC-40 rose 0.6%, while the German DAX Xetra 30 finished virtually unchanged at 7680.76.
Elena
13 Jun, 2007
New York City
U.S. market averages continued to post gains, as easing rate concerns helped generate positive sentiment. Retreating bond yields fueled a rebound in rate-sensitive shares including banks, utilities and home builders. Among utilities, shares of Edison International added 1%, while FirstEnergy gained 0.6%. Shares of chip makers reversed from yesterday''s losses, with Qualcomm leading advances on the Nasdaq with a 1.8%.
Elena
13 Jun, 2007
New York City
U.S. stocks recovered from earlier weakness to open higher on Wednesday. Market sentiment improved on optimism about profit growth after strong retail sales in May indicated strength in consumer spending. The dollar rallied, reaching a four-month high vs. the yen and an 11-week high against the euro after the retail sales data. In addition, bond yields retreated from five-year highs.
Ivaylo
13 Jun, 2007
New York City
London markets were higher by mid-day on Wednesday, despite gilt yields hit seven-year highs, following US benchmark bond yields and thus added to worries of higher corporate borrowing costs. A stronger mining sector and boyant Royal & Sun Alliance helped London recover most of its early losses. At mid-day, the FTSE 100 canceled out early morning losses and was trading up 0.07%.
Elena
13 Jun, 2007
New York City
U.S. stock futures traded lower on Wednesday, following several weak sessions in a row and news that U.S. retail sales advanced 1.4% in May. This is the biggest gain in 16 months, coming in well above analyst expectations of a 0.7% increase. Consequently, the dollar continued its recent upward move. In addition, bond yields on 10-year Treasurys jumped 5.315%, up from 5.25% on Tuesday.
Ivaylo
13 Jun, 2007
New York City
Most indexes in Asia finished lower on Wednesday with Japan falling as worries over increasing interest rates weighed on real-estate stocks, while HK dipped on a drop in property stocks. In South Korea brokerage companies surged, but could not support the market higher, while China continued its winning streak and gained for the seventh straight time. Australia declined as higher U.S. bond yields impacted the local market as well.
Elena
13 Jun, 2007
New York City
Investors led by The Blackstone Group, Goldman Sachs, Kohlberg Kravis Roberts and TPG revealed their bid offer of $46 a share, or $11.4 billion, for medical devices maker Biomet. The offer and withdrawal rights expire at 12:00 a.m.ET on July 11.
Ivaylo
13 Jun, 2001
New York City
The benchmark index was highly volatile Wednesday, going in and out of positive territory. Trading started on a positive bias, but slipped into negative zone as there appeared to be no fresh buying interest. The sell-off was broad-based and hurt mostly banks and capital goods sector. SBI and Reliance Comms were the worst performing stocks, while Dr Reddy
Ivaylo
13 Jun, 2001
New York City
European stocks were lower on Wednesday on a number of factors including the sharp fall on Wall Street overnight. U.S. markets declined yesterday after yields on 10-year Treasury notes surged to the highest in five years, raising fears of rising interest rates, which would weigh on the demand for equities. Allianz and British Energy led declines by insurers and utilities, among the most sensitive to higher interest rates. Alliance & Leicester and Inditex gave Europe some relief.
