123jump.com Staff
09 May, 2007
New York City
The Federal Reserve left short term rates unchaged at 5.25% and said that the economy is slowing and housing sector is going through adjustment process. Rates have remained at this level since June of 2006 and are forecasted to decline by most economists at the end of the year. 10-year bond yield rose to 4.65% and doallar fell after the news.
Elena
09 May, 2007
New York City
European stock markets recovered from recent losses to finish higher on Wednesday. Rio Tinto jumped 10% in London on speculation that the company had rejected a bid of $110 a share from competitor BHP Billiton which rose 5.4%. Among earnings-related gainers, BNP Paribas climbed 4.2% on higher-than-expected Q1 profit. The DAX Xetra 30 rose 0.5%, the French CAC-40 added 0.3%, and the U.K.''s FTSE 100 closed flat at 6,549.60.
Elena
09 May, 2007
New York City
U.S. stock averages continued to trade in the negative, awaiting the Fed Reserve''s decision later today. Among companies in focus, Toyota Motor reported a 9% profit increase in Q1 on 10% revenue growth, helped by robust U.S. and European sales. The stock lost 0.6%. Among other companies releasing quarterly earnings, News Corp. posted 6.2% earnings increase to 27 cents a share, coming in line with analyst estimates. Company''s shares fell 1.6%.
Elena
09 May, 2007
New York City
Mining company Rio Tinto Group rose to a record 7.3% in London on speculation of a takeover bid from BHP Billiton Ltd. Rio Tinto said it was not aware of any approach. A union would create the world''s largest copper producer and iron-ore miner.
Elena
09 May, 2007
New York City
Wall Street started trading lower, reflecting cautiousness before the FOMC meeting, as well as weakness in the tech sector amid disappointing revenue forecast from Cisco Systems. Investors, who expect that interest rates will remain unchanged, are more concerned about the central bank''s economic assessment statement. Walt Disney weighed on the Dow, falling 1.2% after posting lower-than-expected revenue.
Ivaylo
09 May, 2007
New York City
Excitement in opening deals this morning over rumours that BHP Billiton is approaching rival Rio Tinto has faded away amid a mixture of ex-dividends, a possible US interest rate hike today and some cautious trading statements weighing on the benchmark. General retail is in focus as electronics retailer DSG and Home Retail are both higher on another set of strong sales figures for April. In the wider market in mid-afternoon trading, the FTSE 100 is 0.18% lower at 6,538.
Elena
09 May, 2007
New York City
U.S. stock futures moved to the downside on Wednesday amid cautiousness before Fed Reserve
Ivaylo
09 May, 2007
New York City
Regional markets closed higher Wednesday, with Japanese markets advancing as investors sold NTT DoCoMo and other stocks tracking a flat performance on U.S. markets ahead of the Federal Reserve''s meeting on interest rates. The Shanghai benchmark index in China ended above the key 4000 level for the first time on a strong demand for large-cap stocks that prevailed over profit-taking pressure.
Ivaylo
09 May, 2007
New York City
The benchmark index opened with a positive bias but slipped in morning deals on weakness in technology stocks. The Sensex recovered in late deals on a surge in banking shares. Trading was highly volatile and the market-breadth ended negative. SBI and ICICI Bank led the advancers, while TCS was the worst performer. The Indian government fixed a floor price of 850 rupees for its stake in Maruti.
Elena
09 May, 2007
New York City
Legg Mason posted earnings of $172.5 million, or $1.19 a share, compared with $150.1 million, or $1.03 a share a year earlier. The asset manager said that quarterly revenue increased 8.5% to $1.14 billion from $1.05 billion as the company had more average assets under management. Company
Ivaylo
09 May, 2007
New York City
European market advanced on Wednesday, powered by talk of consolidation in the mining sector in London and recovering banking stocks after the previous session profit taking. Mining companies led advancers, on speculation Rio Tinto Group will receive a bid from BHP Billiton. By late morning, Frankfurt Xetra Dax added 0.4%, the CAC 40 climbed 0.3% and London FTSE 100 gained 0.3%.
Ivaylo
09 May, 2007
New York City
Gold and silver declined Tuesday on a higher U.S. dollar and as investors turned their attention to the Federal Reserve policy meeting on Wednesday. Precious metals were under pressure as the euro slipped against the dollar ahead of several central bank meetings this week. The Fed meets Wednesday, while the European Central Bank and the Bank of England meet on Thursday. Platinum and palladium also settled lower, while copper rose.
123jump.com Staff
08 May, 2007
New York City
U.S. stocks were lower hurt by some disappointing earnings news and economic data. Stocks also dropped on speculation Federal Reserve policy makers tomorrow will say its interest-rate decision. Tyco second-quarter earnings dropped 13% on costs to split into three independent companies. AK Steel Holding rose more than 10% on takeover news. Cisco net income gained 34% and revenue rose 21% to $8.87 billion.
123jump.com Staff
08 May, 2007
New York City
U.S. stocks slipped as investors turned cautious the day before a Federal Reserve interest-rate decision helped by some disappointing earnings. Merrill Lynch shares fell 1.5%, JPMorgan Chase''s shares shed 0.5% and shares of Goldman Sachs dropped 1.1%. Shares of Marsh & McLennan dropped 1.4%, while Lazard''s stock lost 2.4%. HP shares rose 2.4%. and Motorola fell 2.3%. Microstrategy dropped 11% on lower earnings.
Elena
08 May, 2007
New York City
European stock markets lost ground on Tuesday, dragged down by cyclical stocks ahead of central bank decisions around the globe. Losses on Wall Street before Fed Reserve
