Ivaylo
13 Jun, 2007
New York City
Industrial metal prices sank on Tuesday with copper down more than 2% down on slowing demand from China. Chinese drop was expected though, as the country
123jump.com Staff
12 Jun, 2007
New York City
Bear market in bond market in the U.S. and worries of rising rates in Europe dragged averages lower on both sides of Atlantic. Weak treasury auction sparked sell-off. Asian markets gained on rising metals and energy prices. In New York oil and gold fell. Latin markets tracked lower averages in New York. Lehman Brothers reported 27% rise in income and lifted other brokerage stocks. Inflation in China and industrial production in India were reported above expectations.
Elena
12 Jun, 2007
New York City
European stock markets closed down on Tuesday. Uncertainty about the direction of global interest rates continued to weigh on the sentiment, driving investors to sell banking shares. HBOS shares dropped 3.6% after it said its position in the U.K. mortgage market fell sharply in the first half of the year. Bradford & Bingley fell 2.3% and Northern Rock dipped 2.8%. The U.K.''s FTSE 100 dropped 0.7%, the German DAX Xetra 30 lost 0.4%, and the French CAC-40 fell 0.7%.
Elena
12 Jun, 2007
New York City
U.S. stock market averages remained in the negative territory, as record-high bond yields and weakness in the tech sector weighed on sentiment. the downward trend was bucked by Lehman Bros shares, which advanced 2.2% on 27% profit increase in Q2. Boeing was the biggest decliner on the Dow, losing 1.2%. Alcoa, Merck and Hewlett-Packard also dragged the blue-chip average, each falling about 1%. Microsoft led decliners on the Nasdaq, miving lower by 0.7%.
Elena
12 Jun, 2007
New York City
Wall Street opened Tuesday trading session in the negative, as bond yields extended their surge, adding to recent concerns that the Fed Reserve will not cut interest rates in the near term. The absence of economic data also prevented the market from moving upward. Retail sales, producer Price Index, and the Consumer Price Index are all due out later this week.
Ivaylo
12 Jun, 2007
New York City
The UK market plunged into negative territory by midday on Tuesday, despite slower-than-expected inflation lifting some stocks. Banking stocks dipped on reports of a smaller mortgage market share at HBOS. Rolls Royce led advancers on news that it may become sole supplier of engines for Airbus A350. The FTSE 100 was trading down 0.3%, at mid-day.
Elena
12 Jun, 2007
New York City
U.S. stock futures were indicating a lower market opening on Tuesday, pressured by a continuously rising bond yields. The yield on the benchmark 10-year Treasury note jumped to 5.21% from 5.16% late Monday. Stronger-than-expected Q2 profits reported by Lehman Brothers failed to generate positive sentiment. Investment firms Bear Stearns and Goldman Sachs Group are scheduled to release quarterly results later in the week.
Ivaylo
12 Jun, 2007
New York City
Asian markets closed mostly higher Tuesday on increasing oil and metal prices which supported energy and mining shares, while the Japanese benchmark index bucked the uptrend and declined on profit-taking. China Mobile lifted HK, despite poor performance from property stocks, while China advanced on electricity producers. BHP Billiton helped the Australian market to finish higher.
Elena
12 Jun, 2007
New York City
Lehman Brothers said its Q2 net income advanced to $1.27 billion, or $2.21 a share, up from $1 billion, or $1.69 a share a year ago. Company
Ivaylo
12 Jun, 2007
New York City
The benchmark index opened higher but dipped below the psychologically important 14,000 level as the industrial production data was released at noon, showing robust growth, which triggered heavy selling as investors were afraid of a possible rate hike by RBI. Fresh buying interest in Tata Steel, Reliance and ICICI Bank supported the index to recover. Cement stocks surged with ACC leading gainers, while Satyam led the decliners. Industrial production in India grew 13.6% annually in April 2007.
Ivaylo
12 Jun, 2007
New York City
Earlier in the session on Tuesday, banks weighed on sentiment after comments from Bank of England
Ivaylo
12 Jun, 2007
New York City
The benchmark index declined in mid-afternoon trading Tuesday after the release of industrial production data, which was far stronger than expected and raised worries that RBI might again raise interest rates to cool down the fast growing Indian economy. Satyam, Reliance Comms and Hindalco are the leading decliners, while ACC leads the advancers. Industrial production in India grew 13.6% annually in April 2007 much higher than 9.9% growth in April 2006.
123jump.com Staff
11 Jun, 2007
New York City
Broader indexes in New York traded sideways, European markets closed higher and Shanghai surged again. Yields in U.S. continued to rise and short term rates are likely to be higher than long term rates. Oil and gasoline prices gained. Owens-Ilinois agreed to seel plastic division to Rexam for $1.83 billion. Steel stocks led rally in Europe, telecoms rallied in Brazil and Shanghai. Brazil inflation was revised upwards.
Elena
11 Jun, 2007
New York City
European stock markets gained ground on Monday, recovering from the sharp losses posted last week. Positive market sentiment was generated by gains in the shares of mining firms as well as deal speculations. Rio Tinto was up 2.4% and Vedanta Resources posted gains of 2.5%. Centrica added 2.2% amid reports that Gazprom is not planning to bid for either Centrica or Scottish & Southern Energy. The German DAX 30 advanced 1.5 %, the French CAC-40 rose 1%, and the U.K.''s FTSE added 1%.
Elena
11 Jun, 2007
New York City
U.S. stocks turned to choppy trading, as investors restrained from making significant moves before the release of some key economic data later this week, looking for indications of the strength of the economy and the outlook for interest rates. Rate-sensitive housing stocks moved notably lower, with Meritage Homes and Hovnanian Enterprises falling 4.6% and 3.4%, respectively. At the same time, utilities stocks posted considerable strength.
