Ivaylo
08 Jun, 2007
New York City
Asian markets ended lower Friday with Japanese stocks dipping on poor economic data, while Shanghai finished higher, bucking the downtrend. Most other regional markets closed also lower tracking lower finish on U.S. markets on Thursday. In Japan, machinery orders for April advanced but missed expectations, which impacted sentiment. In South Korea stocks ended lower on profit-taking.
Elena
08 Jun, 2007
New York City
Kellwood Company reported Q1 net income decline to $7.4 million, or 28 cents a share, down from $9.2 million, or 36 cents a share a year ago. The quarterly earnings missed analyst expectations of 20 cents a share. The retailing company projected Q2 net income in the range of 37 to 39 cents a share.
Ivaylo
08 Jun, 2007
New York City
Volatility was the most conspicuous feature of the trading session on Friday. The market started lower on weak global markets, but then it surged into positive territory on a rally in IT stocks and tamer-than-expected inflation. Selling pressure in the final hour saw the index slump once more with Tata Steel and ACC the main decliners. Hindalco and Satyam led the few advancers. Wholesale price inflation rose less than expected in the period until May 26, in comparison with the previous week.
Ivaylo
08 Jun, 2007
New York City
European stocks declined on Friday as stock-market investors continued to be concerned about the implications of increasing global interest rates and higher bond yields, although shares in French bank BNP Paribas advanced as a report sparked takeover hopes for the group. By mid-day, the U.K. FTSE 100 index declined 0.5%, the German DAX Xetra 30 index lost 0.7% and the French CAC-40 index slipped 0.5%.
Ivaylo
08 Jun, 2007
New York City
The benchmark index recovered from the lows earlier in the session and is trading slightly lower in mid-afternoon Friday. IT stocks made gains on a weaker against the dollar rupee. Wipro, Satyam, Hindalco and Infosys are leading the gainers, while Tata Steel, HDFC and Tata Motors are leading the decliners. The market-breadth was very weak at the start of trading but gradually improved. India
123jump.com Staff
07 Jun, 2007
New York City
Inflation worries were back in European and American trading. Rising oil energy prices and bond market yields in the U.S. and Europe and worries of global inflation left major indexes on both continents sharply lower and dragged Latin markets as well. May same-store retail sales in the U.S.confirmed that consumers are careful with spending. Luxury retailers bucked the trend. Swedish market declined sharply, leading the world-wide sell-off.
Elena
07 Jun, 2007
New York City
European stock markets finished in the negative territory on Thursday, reflecting continuous worries over global interest rates. Solid gains posted by Vodafone Group failed to lift market sentiment. The mobile phone giant Vodafone Group rose 2.1%, while France Telecom lost 1.2%. The German DAX Xetra 30 slipped 1.4%, the French CAC-40 dropped 1.5%, while, the U.K. FTSE 100 fell 0.3%.
Elena
07 Jun, 2007
New York City
U.S. market averages moved steeply lower in late morning trading, pressured by mixed retail sales in May and interest rate concerns, sparked by the 10-year Treasury note which jumped over 5%. The Dow dropped 80 points, dragged by 3M Co., down 1.5%, Disney, falling 1.9%, Home Depot, down 1.2% and Pfizer, losing 1.1%. Among retailers, J.C. Penney fell 3.6% and Wal-Mart lost 1.5% on lower-than-expected same-store sales.
Elena
07 Jun, 2007
New York City
Retailers released reports on sale-store sales in May, showing a slight improvement compared to April
Elena
07 Jun, 2007
New York City
U.S. stock market opened lower on Thursday, reflecting rising yields in the bond market and mixed retail sales reports. The 10-year Treasury note''s yield jumped over 5% in overnight trading, raising concerns that a rate cut later in the year is less probable. Mixed retail sales in May indicated that consumer spending was uncertain. Wal-Mart Stores, Target Corp., J.C. Penney posted lower-than-expected same-store sales.
Ivaylo
07 Jun, 2007
New York City
The UK market advanced modestly at mid-day on Thursday after declining on Wednesday, as the Bank of England decided to hold interest rate at 5.25%. Vodafone led the advancers in morning deals, other stocks performing well include car retaler Halfords, Intercontinental Hotels and airline EasyJet. The FTSE 100 gained 17 points, or 0.26%, at 6,539.7 after it ended 110 points lower on Wednesday.
Ivaylo
07 Jun, 2007
New York City
Asian markets saw subdued trading on Wednesday, as the Japanese market remained in negative territory tracking the overnight decline of U.S. markets, before advancing toward the close. Shanghai extended gains from yesterday as the government said it does not plan to put in practice a capital-gains tax. HK retreated taking its cue from the lower close on Wall Street.
Elena
07 Jun, 2007
New York City
Wal-Mart Stores said Thursday its May same-store sales rose 1.1%, excluding fuel. Including fuel, same-store sales advanced 1.3%, slightly below analyst expectations of an increase by 1.4%. The company expects June same-store sales to come between flat and 2%. J.C. Penney reported 2% decline in its May same-store sales, missing the forecast for a rise of 0.3%.
Ivaylo
07 Jun, 2007
New York City
The market traded in high volatility throughout the session. IT stocks bucked the overall downtrend and advanced on a weaker rupee, but auto stocks dipped as there was less interest in carmakers after the increase of interest rates and as some of the companies reported production cuts. Bajaj Auto led the decliners, Maruti and Hero Honda also slipped. Most of the gainers today were metal and IT stocks, including Satyam and Hindalco. The next telecom expansion is to focus on rural India.
Ivaylo
07 Jun, 2007
New York City
European markets were mixed on Thursday after financial, technology and auto stocks regained territories, lost on Wednesday, although retailers and construction groups were still lower on interest rate worries. By late morning in London, the FTSE 100 gained 0.4%, while in Germany, Frankfurt Xetra Dax slipped 0.1% and the CAC 40 in Paris lost 0.3%.
