Ivaylo
28 May, 2007
New York City
The market opened 130 points higher on firm global markets and rallied in early trading on strong buying in large-cap stocks. The buying interest flagged in late trading and the market saw some profit-taking which weighed on gains. HDFC Banks led the advancers, together with L&T. Hindustan Lever and Infosys were the worst performing stocks. The Indian rupee may drop as the Reserve Bank of India intervenes in the currency markets.
Ivaylo
28 May, 2007
New York City
European stock markets edged higher on Monday, buoyed by the robust close in the US on Friday and a strong start to the week in Asia. Trading was light and advances were slim though, with many markets, including London and Frankfurt, closed for public holidays. The FTSE Eurofirst 300 was up 0.1% by mid morning, while the CAC 40 in Paris gained 0.1%.
Ivaylo
28 May, 2007
New York City
Commodities futures advanced in a broad rally on Friday as industrial metals gained on dwindling inventories, while worries over energy supplies saw crude oil and gasoline prices end higher. A 3% increase in copper prices boosted other industrial metals including nickel, zinc and aluminum on the LME. Lead recorded the sharpest percentage gain, advancing nearly 5%. In the precious metals market, gold rose, reacting to higher oil prices and a weaker U.S. dollar.
123jump.com Staff
25 May, 2007
New York City
Tech stocks led the charge and supported a mild rise in U.S. averages. European markets closed slightly lower and Asian markets closed mixed. Coca Cola agreed to pay $4.1 billion for a bottled water company. Existing home sales dropped 2.6% in April, slowest pace in four years but median home prices rose from a year ago. Nasdaq agreed to pay $3.7 billion for Swedish stock market operator OMX.
123jump.com Staff
25 May, 2007
New York City
Market averages traded higher ahead of three-day weekend. Coca Cola edged higher on a deal to buy bottled water company. Nordson advanced on higher than expected earnings. Archstone Smith jumped on takeover speculation lifting other apartment REIT stocks. Cleveland-Cliffs stock and options advanced on takeover rumors. The stock has jumped 56% this year.
123jump.com Staff
25 May, 2007
New York City
European markets closed on a lower note ahead of three-day weekend in the region. Deal and merger news dominted trading. Nasdaq offered to buy Swedish stock market operator OMX for $3.7 billion in cash and stock. UBS agreed to divest its 20.7% stake in Julius Baer to fund share buy-back program. Rising bond yields depressed stocks in the utilities and construction companies. Goldman Sachs raised its take in British Air to 5.1%.
123jump.com Staff
25 May, 2007
New York City
Privately held, New York based Glaceau has agreed to sell the company also known as Energy Brands for $4.1 billion to Coca Cola. Company estimated to sell more than 100 million case volume with revenue near $700 million will help Coca Cola to acquire a significant market position in the bottled water market. Pepsi, the current leader with products SoBe,Propel and Aquafina controls 45% of the domestic bottled water market. Tata Tea based in India will sell 30% stake in the company a year later.
123jump.com Staff
25 May, 2007
New York City
Sensex index in India rose nearly 0.9% bucking the trend of falllig markets in the region. Wholesale inflation was reported at near elevated level and consumer inflation kept rising at the end of last week. Suzlon is close to finalizing its deal to acquire German REpower, wind turbine maker. Tata Tea has agreed to sell its stake in Energy Brands to Coca Cola for nearly $1.2 billion.
123jump.com Staff
25 May, 2007
New York City
Market averages are expected to open higher in New York on deals and earnings news. Coca Cola has agreed to pay $4.1 billion for vitaminwater maker Energy Brands to boost its sales in North America. Nasdaq agreed to purchase European stock exchange operator OMX for $3.7 billion. Market is awaiting existing home sales report in less than an hour. Asian markets closed mostly lower in the overnight trading.
123jump.com Staff
24 May, 2007
New York City
U.S. averages struggled as rising bond yields affected trading sentiment. April home sales rose 16% and durable goods orders in the month rose 0.6%, lower than expected but still healthy. Prospect of any rate cut in the near term faded with both reports, dragging market averages lower around the world. Lowered profit estimate at Network Appliance caused the stock to lose 16% and dragged tech stocks with it. Brazil fell 2.5%. In Europe, Italy dropped 1.4% and in Asia, markets struggled.
Elena
24 May, 2007
New York City
European stock markets closed in the negative territory on Thursday, dragged down by weakness in the mining sector and declines from automakers. Gains posted by Air France-KLM and telecommunications players such failed to lift sentiment. Miners were notable losers, with shares of Lonmin and Vedanta Resources each falling 3%. The U.K.''s FTSE 100 lost 0.8%, the French CAC-40 slipped 1.2%, and the German DAX Xetra 30 fell 0.5%.
Elena
24 May, 2007
New York City
U.S. stocks retreated after the initial enthusiasm over a report which showed that new homes sales in April soared to a 14-year high, dampening hopes that the Fed Reserve will cut interest rates to stimulate the economy. The Commerce Department said sales of single-family homes jumped 16.2% last month. Buying interest was boosted by news that Advanced Medical Optics considers offering Bausch & Lomb a higher price than the $3.67 billion offered by a private equity group. Bausch & Lomb gained 4%.
Elena
24 May, 2007
New York City
Apparel retailers Gymboree and Abercrombie & Fitch rose 11% and 3%, respectively on quarterly results. Abercrombie & Fitch Co. reported 7% earnings growth in Q1 to 65 cents per share, compared with profits of 62 cents a share a year ago. Sales rose 13% to $742.4 million. Abercrombie reaffirmed its outlook for the first half of the year.
Elena
24 May, 2007
New York City
Wall Street opened mixed Thursday, reflecting better-than-expected economic data and cautiousness ahead of new home sales report. Toll Brothers'' unwillingness to provide an earnings outlook also weighed. Signs of strength in business investment offset higher-than-expected jobless claims data, with durable goods orders rising 0.6% in April, boosted by strong demand for metals and capital equipment.
Elena
24 May, 2007
New York City
U.S. stock futures lost ground on Thursday, pressured by concerns over the housing market. The housing market was in the spotlight, with investors awaiting data on new-home sales and digesting unwillingness from home builder Toll Brothers to provide an earnings outlook. Durable-goods orders report is also due out today.
