Elena
11 Jun, 2007
New York City
On the deal news front, British packaging company Rexam PLC announced Monday that it agreed to acquire the plastics packaging unit of specialty closure systems maker Owens-Illinois in a cash deal of $1.8 billion. General Electric and Microsoft failed to reach an agreement over a bid offer for Dow Jones, meant to head off a $5 billion unsolicited bid from News Corp. Owens-Illionois fell 1.5%.
Elena
11 Jun, 2007
New York City
Wall Street opened flat, reflecting further advance in bond yields and solid gains in overseas markets. The yield on the Treasury''s 10-year note jumped to 5.16% Monday from 5.11% late Friday. Among companies in focus, Dow component Johnson & Johnson added 0.9% after Credit Suisse upgraded the stock to neutral from underperform, saying that it hah underperformed rival pharmaceuticals by 17% over the last 12 months.
Ivaylo
11 Jun, 2007
New York City
Expectations for fresh bid activity in the utilities sector supported London equities extend gains in mid-day trade on Monday. Mining stocks also gained, as well as Barclay
Elena
11 Jun, 2007
New York City
U.S. stock futures pointed to a flat market opening on Monday following a rebound Friday after steep declines on concerns about rising bond yields and global interest rates. Yields on the 10-year Treasury were at 5.12% in early action. Among companies in focus, Johnson & Johnson was upgraded to neutral from underperform by Credit Suisse. GE and Microsoft failed to reach an agreement over a bid offer for Dow Jones, meant to head off a $5 billion unsolicited bid from News Corp.
Ivaylo
11 Jun, 2007
New York City
Asian markets finished mostly higher Monday with Japanese stocks gaining on exporters Toyota and Fanuc and other large-caps after economic data which showed that the economy grew faster than expected. HK and China also ended higher while South Korea declined. Australia was closed on Monday for a public holiday.
Ivaylo
11 Jun, 2007
New York City
The benchmark index was in the grip of strong volatility Monday with large-caps rallying until mid-afternoon, when strong selling erased earlier gains. The turnover on BSE was muted, while the market-breadth turned from positive in early deals into negative at close. Hero Honda, ITC and Hindalco were the best performers on the market, while Reliance Comms and Grasim led the decliners. The rupee was flat against US dollar while it gained against the euro.
Ivaylo
11 Jun, 2007
New York City
European markets gained on Monday morning after the declines last week, with investors buying in airline stocks as crude-oil futures plunged and with possible acquisition in the gas sector putting the U.K. gas company Centrica to the fore. Support also came from the strong close on U.S. markets on Friday. The German DAX Xetra 30 index gained 0.9%, the French CAC-40 index added 0.8% and the U.K. FTSE 100 index advanced 0.5%.
Ivaylo
11 Jun, 2007
New York City
The benchmark index opened higher and was trading steady throughout the session supported by strong global markets and a rally in large-caps. Real estate developers were particularly strong after the successful IPO of DLF. HDFC, ITC and Hero Honda were the best performing stocks, while among the few decliners were Grasim and Tata Motors. The rupee continued to rise against the dollar.
123jump.com Staff
08 Jun, 2007
New York City
Stock indexes rebound more than 1% after a three-day decline led by techs, banks and brokerage stocks. European markets closed lower tracking the early morning weakness in the U.S. trading. Late afternoon rally in New York was led by a failure of bonds to fall further. U.S. April trade deficit fell 6.2% to $58.5 billion. Deficit rose with all major trading partners in the month.
Elena
08 Jun, 2007
New York City
European stock markets closed lower Friday for a fifth consecutive session, pressured by continuous worries about the impact of higher interest rates. The downward trend was bucked by 1.5% rise in the shares of BNP Paribas which gained amid takeover speculations. Vodafone was among advancers for a second day in a row, moving up 1%. The U.K. FTSE 100 finished unchanged at 6,505.10, the German DAX Xetra 30 fell 0.4%, and the French CAC-40 slipped 0.1%.
Elena
08 Jun, 2007
New York City
U.S. stock market averages moved modestly higher, as investors turned to bargain hunting after recent weakness, with concerns about the outlook for interest rates still weighing. Some positive sentiment was generated by a notable decline by the price of oil. Shares of Royal Dutch Shell traded in the U.S. were among the leading gainers in the oil group, rising 1%. At the same time, gold stocks posted weakness amid a continuous drop by the price of gold.
Elena
08 Jun, 2007
New York City
Utility stocks recovered slightly as the yield on the 10-year Treasury retreated to 5.1%. Entergy Corp. rose 2.3%, while Constellation Energy Group fell 1.3%. Crude oil futures declined, sending oil shares down. Exxon Mobil lost 0.8% and Chevron stock fell 1.2%.
Elena
08 Jun, 2007
New York City
U.S. stock markets posted modest gains at opening on Friday on bargain hunting after three days of heavy losses. However, concerns about rising bond yields continued to take their toll. Following an improvement in the April trade deficit, the yield of the benchmark 10-year Treasury bond retreated from an overnight high of 5.25%. The Dow was led higher by McDonald''s which rose 2.35% after saying global same-restaurant sales rose 8.7% in May.
Elena
08 Jun, 2007
New York City
U.S. stock futures turned in a lackluster fashion on Friday, slightly recovering from steep losses recently. Rising bond yields and positive results from National Semiconductor were the pre-market highlights. National Semi climbed 9% in electronic trading on stronger-than-expected earnings. Rival companies Texas Instruments advanced 1.8% and chipmaker Maxim Integrated Products rose 2.7%.
Ivaylo
08 Jun, 2007
New York City
London is lower at mid-day Friday, tracking lower finish on Wall Street overnight and on weak mining sector. Stocks dipped, paced by Vodafone Group and Anglo American which led mining shares lower after copper declined in Asia. Oil large-caps bucked the downtrend and advanced on higher oil prices. The benchmark FTSE 100 Index declined 44.90, or 0.7%, at mid-day in London.
