Elena
30 May, 2007
New York City
U.S. market averages recovered from earlier weakness to trade mixed. Investors shrugged off a heavy sell-off in China, sparked by a tripling of taxes on stock trades. The Dow traded lower, pressured by Merck & Co., down 2%, Intel, down 1.5%, and Pfizer, falling 1%. Caterpillar helped limit losses, posting a gain of 2.9% after rival Joy Global issued an upbeat guidance. In the tech sector, IBM advanced 0.6% and Microsoft added 0.3%.
Elena
30 May, 2007
New York City
Wall Street saw a weak opening on Wednesday, pressured by steep declines in the Chinese stock market sparked by a tripling of taxes on stock trades. Investors were also awaiting the Fed Reserve''s minutes, expected to indicate a rate cut in the near term, rather than a rate hike. In corporate news, ESpeed Inc., a publicly owned electronic trading house, said it is buying BGC Partners in a $1.3 billion deal. Shares of ESpeed added 1.6%.
Ivaylo
30 May, 2001
New York City
London lost 60 points by mid-session trading on Wednesday on worries of a global sell-off after a China
Elena
30 May, 2007
New York City
U.S. stock futures moved sharply lower on Wednesday, reflecting a plunge in Chinese stocks and cautiousness ahead of the Fed Reserve''s release of minutes from its latest meeting. The main Shanghai Composite Index dropped 6.5% after Beijing tripled a tax on stock trading. FOMC minutes are expected to indicate a rate cut by the end of the year rather than a rate hike. In corporate news, IBM said it repurchased $12.5 billion of common stock through accelerated share-buyback agreements.
Elena
30 May, 2007
New York City
CDW announced after the closing bell on Tuesday that it agreed to be acquired by private-equity firm Madison Dearborn Partners in a cash deal worth $7.3 billion. Under terms of the deal, Madison Dearborn will pay $87.75 a share for the technology products reseller. The transaction is 16.1% premium over CDW''s May 25 closing price of $75.56 a share.
Ivaylo
30 May, 2007
New York City
Asian markets ended mostly lower on Wednesday. The Shanghai Composite Index in
China plunged after the government surprisingly tripled duties charged on stock trades, to cool speculative activity and block what is believed is a huge equity-market bubble. Other markets advanced on Wednesday, as Thailand recorded modest gains, while South Korea ended at another record close. Japan closed lower on broad-based selling.
Ivaylo
30 May, 2007
New York City
The benchmark index saw a highly volatile session, opening with a negative bias on weak global markets. However, buying in capital goods stocks like Larsen & Toubro and BHEL helped the market advance in afternoon trade. It was in the final hour of trading on weakness in IT stocks that sent shares sharply lower. Reliance Communications and Reliance Energy led the decline, while L&T led advancers. India became the third emerging stock market after China and Russia to exceed $1 trillion in value.
Ivaylo
30 May, 2007
New York City
European stocks traded lower on Wednesday, reacting to sharp declines on Asian stocks markets after the Chinese government tripled the stamp duty payable on share trading. China undertook the move to cool a rally in its equity market, giving rise to speculation that the fastest growing major economy in the world will trigger another slump in global shares. Back in Europe, Frankfurt Xetra Dax shed 0.8%, the CAC 40 in Paris lost 0.8% and London FTSE 100 slipped 0.7%.
Ivaylo
30 May, 2007
New York City
Gold prices advanced on Tuesday as the U.S. dollar dipped against the euro and other major currencies and investors reallocated funds into precious metals. Elsewhere in the commodities markets, prices of energy and agriculture products declined, while some industrial metals posted gains.
123jump.com Staff
29 May, 2007
New York City
U.S. market averages struggled during the day but managed to close higher. European averages rose on merger revised bid for ABN Amro earnings from Vodafone. Asian stocks closed higher led by sharp rise in Shanghai and steady gains in Japan and India. Brazil and Mexico closed lower on weak currencies. Archstone-Smith surged 10% on the news that it will be acquired by Lehman Bros and Tishman Speyer for $12 billion. China reported nearly 100 million stock trading account.
Elena
29 May, 2007
New York City
European stock markets finished Tuesday mixed. Market sentiment was helped by deal moves in the banking sector, gains among telecom stocks and higher U.S. market opening. Banks were in the spotlight after Royal Bank of Scotland-led consortium offered to buy ABN Amro for $95.5 billion. Royal Bank of Scotland fell 0.8%, while Barclays added 1.9%. Telecoms were led by 5.5% rise in shares of Vodafone Group. The U.K. FTSE 100 rose 0.6%, the German DAX 30 rose 0.5%, and the French CAC-40 fell 0.3%.
Elena
29 May, 2007
New York City
U.S. stock averages traded higher, as merger activity boosted corporate optimism and consumer confidence index in May improved more than expected.Networking, airline, and utility sectors moved notably higher. Tech shares posted gains, with Google rising 1%, despite news of a preliminary antitrust probe into its planned $3 billion deal to buy online advertiser DoubleClick. Avaya rose 13%, leading the networking sector higher.
Elena
29 May, 2007
New York City
Washington Group surged 16% after the engineering and construction company agreed to be acquired by URS Corp. for $2.6 billion in cash and stock. Shares of Avaya climbed 13% amid reports that the communications equipment maker is in talks regarding a sale of part or all of the company.
Elena
29 May, 2007
New York City
Wall Street opened slightly higher Tuesday, helped by multibillion-dollar acquisition deals. A consortium of banks led by Royal Bank of Scotland said it will bid $95.5 billion for ABN Amro, topping an offer from Barclays. Tishman Speyer Properties and Lehman Brothers Holdings are reportedly interested in buying Archstone-Smith Trust for more than $12 billion, including $6 billion in debt.
Ivaylo
29 May, 2007
New York City
London stocks were higher in morning trade on Tuesday after an prolonged bank holiday weekend. Banks were in demand on further bid news while Vodafone reported strong annual results. British Airways also posted strong gains. The FTSE 100 rose 26.8 points, 0.4%, at 6,597.3, in mid-day trade.
