Ivaylo
07 Jun, 2007
New York City
The benchmark index saw a highly volatile trading Thursday with IT large-caps rallying in late session on a weaker rupee, with Satyam and Wipro leading stocks higher. Cement stocks plunged with ACC and Grasim the worst performers in the sector. Hindalco gyrated between positive and negative zone, but is currently up, while Reliance Comms is firmly higher. Reliance Industries is down. The market-breadth is strongly negative with three decliners for every two advancers.
123jump.com Staff
06 Jun, 2007
New York City
Stocks fell for a second day in a row in Europe, New York and Latin America. Rate hike in Eurpe dampened the mood and rising price of Nickel kept averages in Chile and Brazil under check. In New York market traded lower as traders worried that future cuts in interest rates this year are less likely. India lost 2%. Metal and oil trading companies rose more than 4% in Japan. Australia reported faster than expected GDP growth.
Elena
06 Jun, 2007
New York City
European stock markets ended in the red on Wednesday, reflecting interest rate worries worldwide and weakness in the automotive sector. Interest rates were in the spotlight after the ECB lifted its key interest rate to 4%. Automotive stocks stood out as the worst performers, with Volkswagen falling 2.5% and Renault losing 4%. The German DAX Xetra 30 tumbled 2.4%, the U.K. FTSE 100 dropped 1.7%, and the French CAC-40 declined 1.7%.
Elena
06 Jun, 2007
New York City
U.S. market averages posted heavy losses in late morning trading, with the Dow Jones Industrial average losing over 100 points. The steep decline followed news that Q1 unit labor costs jumped higher than expected, sparking inflation and interest rate concerns. The blue-chip average was led down by DuPont and IBM, each falling 2.2%. Dow members United Technologies and Boeing declined 1.5%.
Elena
06 Jun, 2007
New York City
Panera Bread tumbled 13% after the retailer cut its Q2 earnings and same-store sales guidance on lower same-store sales expectations and rising costs. Company''s stock was downgraded by Morgan Keegan. Whole Foods Market declined 3.4% after the Federal Trade Commission filed a lawsuit to prevent it from merging with Wild Oats.
Elena
06 Jun, 2007
New York City
Wall Street opened lower on Wednesday, reflecting inflation and interest rate concerns, sparked by higher unit labor costs Q1. First-quarter productivity came in line with expectations, rising 1%, down from the previous estimate of 1.7%. However, unit labor costs rose a higher-than-expected 1.8%. Among the biggest losers, Panera Bread tumbled 13% after the retailer cut its Q2 earnings and same-store sales guidance on lower same-store sales expectations and rising costs.
Ivaylo
06 Jun, 2007
New York City
The UK market remain firmly in negative territory as retailers led decliners, while investors are keeping an eye on the increase in eurozone interest rates and an expected weaker start on U.S. market. A note from Morgan Stanley also contribute to the decline of the FTSE 100 which plunged 67 points, or 1%, to 6,555.4 in late morning trade, as investors intensified their caution before Bank of England
Elena
06 Jun, 2007
New York City
U.S. stock futures predicted weak market opening on Wednesday, reflecting interest rate concerns after a rate hike in Europe and before data on Q1 productivity. The Labor Department is expected to report worker productivity increase by 1%, down from the previous estimate of 1.7%.
Ivaylo
06 Jun, 2007
New York City
Asian markets closed mostly lower on Wednesday, as investors took profits in Tokyo, while Shanghai bucked the overall downtrend and advanced as the government is expected to take steps to support the market. Taiwan also finished higher. In Japan, exporters led the stocks lower on disappointment that U.S. Federal Reserve is unlikeky to reduce the rates.
Ivaylo
06 Jun, 2007
New York City
Although the market opened marginally higher it soon came under heavy selling pressure and declined sharply in afternoon trade. Large-caps across the board fell with Reliance Industries and ONGC strongly impacting the market in view of their heavy weightage. Tata Steel led the decliners today, while Hindalco and Reliance Comms were among the few gainers in the Sensex. The government of India has approved 24 Special Economic Zones to be established in the country.
Ivaylo
06 Jun, 2007
New York City
European markets declined on Wednesday on worries about interest rate direction in both Europe and the U.S. and poor performance in the telecommunications sector, which countered advances from health care companies like GlaxoSmithKline. E.ON and Iberdrola led a drop by utilities, among companies most sensitive to shifts in borrowing costs. The German DAX Xetra 30 index lost 0.5%, the U.K. FTSE 100 index slipped 0.5% and the French CAC-40 index traded 0.4% lower.
Ivaylo
06 Jun, 2007
New York City
The benchmark index opened higher and was firm until the afternoon session when selling pressure on large-cap stocks emerged and pulled the market down. Tata Motors and SBI are leading the decliners at that time, while stable copper prices saw Hindalco advance. The market-breadth is negative and the turnover on BSE is very high.
Elena
05 Jun, 2007
New York City
European stock markets erased earlier gains to close lower on Tuesday, led by weakness in the transport sector as investors sold shares in low-cost airline Ryanair. The Irish carrier fell 6.8% after it said that profit for fiscal 2007 rose a stronger-than-forecast 42%, but also warned that profit would rise just 5%, far below the 42% growth seen last year. The French CAC-40 lost 0.8%, the German DAX Xetra 30 slipped 0.7%, while the U.K.''s FTSE 100 fell 0.5%.
123jump.com Staff
05 Jun, 2007
New York City
Rising bond yields in the U.S., rate hike expectations on tomorrow in Europe, worries of economic slowdown in Latin America kept indexes lower in the regions. Shanghai bounced back and several Asian markets tracked new records. In New York, Google closed record high. In Europe, airlines closed lower on traffic warnings from Ryanair, in Hong Kong, Cnooc and PetroChina closed up 4%, and State Bank of India gained 2% in Mumbai. LG.Philips closed up 4% on revised target price from a local broker.
Elena
05 Jun, 2007
New York City
U.S. market averages remained in the negative territory, weighed down by concerns that the Fed Reserve will not cut interest rates in the near future after Chairman Ben Bernanke made upbeat comments on the economy and service-sector data in May topped analyst estimates. Retail, software and utilities sectors showed considerable weakness. Housing stocks also remained under pressure.
