Elena
09 Jul, 2007
New York City
Wall Street opened in the positive territory Monday amid investor optimism that Q2 corporate earnings will be solid and will help give the market some direction. Alcoa will traditionally kick off the season after the closing bell. The aluminum producer is expected to report a profit of 83 cents per share. Falling bond yields and fresh merger deals also generated positive sentiment.
Ivaylo
09 Jul, 2007
New York City
The UK market continues to trade higher at mid-day Monday on upbeat broker news and bid talk offset poor performance among the housebuilders after a disappointing update from Bovis Homes. Rolls Royce was also higher lifted by news that International Lease Finance Corporation selected the company to power 40 of the 74 Boeing 787 Dreamliners. The benchmark FTSE 100 in London is 0.29% higher at mid-day and is trading at 6,710.
Elena
09 Jul, 2007
New York City
U.S. stock futures moved slightly higher on Monday ahead of the second-quarter earnings season, with Alcoa reporting first after market close. The aluminum producer is expected to post strong results on demand in the aerospace sector. Lexmark fell 12% in pre-open trade after it warned over Q2 and Q3 earnings, due to weaker-than-forecast sales of inkjet supplies and pricing. Oil futures and bond yields were also in the spotlight.
Ivaylo
09 Jul, 2007
New York City
Asian markets rallied on Monday with the Nikkei 225 Average in Japan surging to a seven-year high as machinery-orders data buoyed precision-equipment makers, while Hong Kong and South Korea also both finished at record highs. In China, the market extended gains after government intends to limit the sale of state-owned shares in listed companies. Resource sector shares boosted Australia.
Elena
09 Jul, 2007
New York City
Diversified industrial manufacturing firm Sequa Corp. agreed Monday to be bought by the Carlyle Group in a deal worth $2.7 billion. According to the agreement, Carlyle will acquire all of the outstanding Class A and Class B shares of Sequa for $175.00 per share in cash. The transaction is a premium of 54% to the closing prices of Sequa''s Class A and Class B shares on July 6.
Ivaylo
09 Jul, 2007
New York City
The benchmark index saw sustained buying throughout the day with stocks from banking, capital goods and IT sectors leading the market higher. The market traded in a narrow range, virtually showing lack of volatility. The market-breadth was also very strong. Reliance Energy led the gainers with L&T and ONGC also performing well. Hindustan Unilever led the decliners. Sugar exports from India may double next year. Indian rupee was little changed today.
Ivaylo
09 Jul, 2001
New York City
European markets advanced on Monday buoyed by the strong U.S. finish on Friday and upbeat markets in Asia and as mining companies surged. Bid talks surrounding Dutch baby foods group Numico also supported the markets. British engine maker Rolls-Royce also gained on talks that International Lease Finance will use its engines in 40 of the 74 Boeing 787. The U.K. FTSE 100 index rose 0.4%, the German DAX Xetra 30 index advanced 0.6% and the French CAC-40 index edged up 0.3%.
Ivaylo
09 Jul, 2007
New York City
Commodities advanced broadly on Friday with gold rising on weaker dollar and surging oil prices. The strong June jobs report boosted the dollar initially, but then the greenback could not hold onto its gains. August gold added as the metal usually goes in the opposite direction of the dollar. Silver also advanced, as well as copper. Renewed violence in Nigeria lifted the price of oil futures. Nickel lost, bucking the trend with the other industrial metals which edged higher.
123jump.com Staff
06 Jul, 2007
New York City
U.S. averages staged a rebound in the afternoon trading lifted by takeover news, steady bond yields, and speculation on earnings. June payroll data showed healthy gains. CBOT Holdings and Chicago Mercantile Exchange gained after CME revised its offer third time to $11 billion. Retailers in the U.S. and Japan rallied. In Asian trading Shanghai surged nearly 5% and Brazil, India, Indonesia, Hong Kong and South Korea closed at record levels. Oil traded near $73 per barrel. Gold climbed.
Elena
06 Jul, 2007
New York City
European stock markets regained ground on Friday, as higher crude oil prices boosted oil companies and stronger-than-expected jobs growth in the U.S. also generated positive mood. Shares of Royal Dutch Shell rose 2.9%, following an upgrade to buy from reduce at Deutsche Bank. BP shares gained 1.1%. The French CAC-40 gained 0.7%, the U.K.''s FTSE 100 advanced 0.8%, and the German DAX rose 0.8%.
Elena
06 Jul, 2007
New York City
U. S. stock averages turned to the upside in late morning trading, helped by strength among resource stocks. Gains in shares of oil companies offset worries about higher borrowing costs after strong employment data. Exxon Mobil advanced 0.6% and Chevron Corp. gained 1.5% after U.S. crude oil climbed to $72.79 a barrel. Gold stocks posted particularly strong gains after gold prices climbed $5.30 to $655.90 an ounce.
Elena
06 Jul, 2007
New York City
U.S. stocks traded mixed on Friday morning, as bond yields rose after data showed a stronger-than-expected jobs growth in June, including upwards revisions of previous months. The benchmark 10-year Treasury bond was down 13/32 at 94-21/32, lifting its yield to just below 5.2%.
123jump.com Staff
06 Jul, 2007
New York City
June U.S. payroll increase was reported at 132,000 and hourly wage gains were reported at 0.3% increae from April or 3.9% from a year ago. The May payroll data was revised to 190,000 from 157,000 and April numbers were revised 50% higher. The tight labor market has pushed wages higer in the last two years. However, U.S. economy has failed to generate more than 2 million annual jobs, a celing for the last thirty years.
123jump.com Staff
06 Jul, 2007
New York City
Sensex in India traded above 15,000 but settled below, still a new record. The Index has jumped 50% in less than 17 months of trading. Cement and software export companies rallied on falling rupee in international trading. Mahindra & Mahindra to replace Hero Honda in Sensex as of Monday. Weekly measure of inflation fell to 13-month low, prompting a debate that further rate revision may be halted. ICICI Bank plans to offer $1.5 billion in debt.
123jump.com Staff
05 Jul, 2007
New York City
U.S. averages closed mixed but tech stocks were in favor. Google, Cisco, Apple and Research in Motion advanced. Rising yields in the U.S. bond market lowered banks and brokerages. Bank of England raised rates but European Central Bank left rates unchaged. Shanghai fell 5% on the worries that $40 billion of IPOs in the second half may sap liquidity. DLF IPO in India, largest-ever, raised $2.2 billion. Crude oil climbed. Chile fell 1%, largest decline in a month, but still up 30% for the year.
