Ivaylo
22 May, 2007
New York City
London stocks traded in negative territory on Tuesday as Marks and Spencer declined on the back of annual earnings and GlaxoSmithKline suffered by several broker downgrades. Glaxo denied a report that its diabetes drug Avandia increases the risk of death from heart problems. British Airways has been unsettled by the news it is joining a consortium led by Texas Pacific Group to explore a takeover bid for Iberia airline. The FTSE 100 gave up 11 points, or 0.2%, to 6,625.7
Elena
22 May, 2007
New York City
U.S. stock futures moved to the upside on Tuesday, lifted by strength among gaming and leisure stocks on the back of billionaire Kirk Kerkorian''s offer to buy two Las Vegas properties owned by MGM Mirage. Among casino stocks, MGM Mirage jumped 23% in pre-market trading, Wynn Resorts rose 4.2%, and Las Vegas Sands added 4.4%. Investors were also watching for developments in economic talks between China and the U.S.
Elena
22 May, 2007
New York City
Under the terms of the agreement, iStar will acquire Fremont General''s California-based commercial real estate lending business and will retain a 30% B-participation interest. On completion of the transaction, Fremont General will own a 70% A-participation interest in the portfolio. The deal is expected to close at the beginning of summer 2007.
Ivaylo
22 May, 2007
New York City
China finished almost 1% higher Tuesday on yuan appreciation, as regional markets mostly rose, but declines in large-cap stocks pushed Hong Kong lower. Tokyo stocks continued its upward trend as investors bought NEC and Sony as well as banking shares on hopes for solid earnings this fiscal year. All the other major indices advanced with only Australia bucking the trend and declining.
Ivaylo
22 May, 2001
New York City
The benchmark index opened with a positve bias and advanced in morning trade but then selling pressure emerged at higher levels and the Sensex plunged. A recovery in Reliance Industries helped the market end in positive territory with some large-caps continuing their downtrend. Bajaj Auto lost for the fourth straight day on account of its demerger scheme. Reliance Communication and HDFC were the best performing stocks. The rupee advanced further against the U.S. dollar.
Ivaylo
22 May, 2007
New York City
European markets were mixed on Tuesday, with investors putting in the limelight resource-sector stocks on valuation hopes while GlaxoSmithKline kept losing for a second-day after safety concerns were raised about a diabetes drug and Marks & Spencer announced the retail environment would get more challenging. The U.K. FTSE 100 index slipped less than 0.1%, the German DAX Xetra 30 index added 0.1% and the French CAC-40 index traded fractionally lower.
Ivaylo
22 May, 2007
New York City
Corn prices advanced Monday on reports of hot, dry weather in the eastern Corn Belt. In other commodities trading, crude oil rallied more than $1 a barrel while industrial metals advanced. Ongoing outages at the nation
123jump.com Staff
21 May, 2007
New York City
Merger news in New York and Europe lifted stocks. S&P 500 briefly crossed its earlier peak reached in March 2000. June futures of crude price jumped more than 2% or $1.33 on expected summar demand for gasoline. Energy and tech stocks drove market averages higher at the opening but failed to keep the momentum near the close. Brazil and Mexico advanced. Two separate mergers were reported in Italian banking sector. Chinese stocks continued to rally. Canadian dollar rose to a 20-year high.
123jump.com Staff
21 May, 2007
New York City
Crude oil futures passed $66 per barrel lifting stocks oil exploration and refining companies. Exxon Mobil, ConocoPhillips, Sunoco and Valero rose on the news. S&P 500 index crossed high reached six year ago on steady rise in company earnings, low interest rates and frantic deal making. Lowes reported lower than expected earnings.
Elena
21 May, 2007
New York City
European stock markets closed mostly in the negative territory Monday, dragged lower by a steep decline in the shares of GlaxoSmithKline and weakness in the bank sector. Shares of pharmaceutical giant GlaxoSmithKline dropped 5% after research showed that diabetes drug Avandia significantly increased cardiovascular risk. The German DAX Xetra 30 added 0.2%, the U.K. FTSE 100 slipped 0.1%, and the French CAC-40 lost 0.2%
Elena
21 May, 2007
New York City
U.S. stocks traded in a tight range on merger Monday, reflecting profit-taking. Tech stocks were some of the most notable gainers amid merger speculation in internet shares. Sirius Satellite rose 3%. In other corporate news, Blackstone confirmed an agreement under which the Chinese government will buy $3 billion of non-voting common units at a purchase price equal to 95.5% of the IPO price. The deal signals China''''s determination to earn higher returns on reserves.
Elena
21 May, 2007
New York City
Wall Street opened mixed Monday, as investors turned to profit-taking after the strong market performance last week. However, a flurry of merger deals generated some positive sentiment. Alltel rose 7.3% after agreeing to be acquired by TPG Capital and a Goldman Sachs unit for $27.5 billion, or $71.50 a share. Atlas Energy Resources jumped 14% as it agreed to buy 2,150 natural gas wells from DTE Energy for $1.23 billion.
Elena
21 May, 2007
New York City
U.S. stock market futures indicated a flat market opening on Monday after a week of solid gains, followed by a weekend of deal making. Among pre-market highlights, Alltel rose 7% as it agreed Sunday to be taken private by investment firms TPG Capital and GS Capital Partners for $27.5 billion, or $71.50 a share. In other corporate news, General Electric agreed to sell its plastic business to Saudi Basic Industries in a $11.6 billion deal.
Ivaylo
21 May, 2007
New York City
Most Asian markets finished in positive territory on Monday boosted by gains on U.S. markets on Friday, with shares in Japan lifted by exporters such as Sony Corp. and Canon, while companies tied to domestic consumption led a rebound on Chinese markets from early losses. All benchmark indices ended higher.
Elena
21 May, 2007
New York City
The offer values the company at $27.5 billion, or $71.50 per share in cash, a premium of 10% over Friday''s close. The deal is subject to Alltel''s shareholders
