Ivaylo
28 Jun, 2007
New York City
The benchmark index witnessed a session, dominated by cement stocks. The market traded range-bound in the latter part and ended with a modest gains. Three out of four top advancers were cement shares. ACC led the gainers, together with Gujarat Ambuja and HDFC. Bajaj Auto and ONGC were the worst performing stocks, as they were hurt by selling pressure. US wheat suppliers may not participate in tender in India next week.
Ivaylo
28 Jun, 2007
New York City
Alleviated fears over bonds yields supported most European markets higher Thursday. European advances tracked a strong session on U.S. markets on Wednesday. Higher commodity prices also buoyed energy and mining companies and as Citigroup Inc. stated shares in the region are cheap. The German DAX 30 index advanced 1% to trade, the French CAC-40 index advanced 0.9%, and the U.K. FTSE 100 index rose 0.7%.
Ivaylo
28 Jun, 2007
New York City
Crude oil and gasoline futures finished higher on Wednesday after an inventory report that showed that gasoline supplies might be diminishing. Heating oil also rose after a decline in distillate stocks surprised traders. Gold and silver prices declined, while copper futures advanced. Agriculture product prices reacted to changing weather patterns and dropped.
123jump.com Staff
27 Jun, 2007
New York City
Falling interest rates, rising tech stocks and crude oil all impacted market averages in New York. May durable goods orders fell more than expected. Financial, brokerage stocks rose again as traders put aside sub-prime lending worries for a day. Oracle, Nike and ConAgra report better than expected earnings. European markets close lower on rate hike worries. Brazil, Argentina and Mexico rebounded. Shanghai bucks the regional trend and closed up. Australia lost 2%.
Elena
27 Jun, 2007
New York City
European stock markets finished in the negative territory on Wednesday, pressured by weakness among banks and miners amid much weaker-than-expected U.S. durable goods data. British mortgage lender Northern Rock dropped 12%, insurer AXA fell 0.9%, while miner BHP Billiton lost 2.8%. The U.K.''s FTSE 100 declined 0.5%, the German DAX lost 0.8%, and the French CAC-40 slipped 0.2%.
Elena
27 Jun, 2007
New York City
U.S. market averages traded in a lackluster fashion, reflecting strength in the tech sector, weak economic data, as well as continuous worries about the subprime mortgage market and hedge fund woes. Oracle gave tech shares a boost with 2% gain on better-than-expected earnings. Banking, oil and hardware stocks moved to the downside, while semiconductors and utilities gained.
Elena
27 Jun, 2007
New York City
Nike jumped 5.8% after posting a 32% profit rise and the fastest growth in orders in the last four years. Nike reported Q4 net income of $437.9 million, or 86 cents per share, meeting the average analyst expectations. Revenue for the quarter increased 9% to $4.4 billion.
Elena
27 Jun, 2007
New York City
Wall Street opened in the negative, pressured by much weaker-than-expected durable goods orders and cautiousness ahead of the Fed Reserve''s two-day meeting on interest rates. The Commerce Department reported that durable goods orders in May dropped by 2.8%, a steeper drop than the decline of 1.7%, anticipated by investors. However, the downward trend was bucked by positive earnings releases, indicating stronger corporate profit growth in Q2.
Ivaylo
27 Jun, 2001
New York City
The UK benchmark index tumbled Wednesday, the day when Tony Blair stepped down as prime minister. The market fell on concerns over a negative trading update from Northern Rock and losses in ex-dividend stocks. Sir John Gieve, the deputy governor of the Bank of England, also damped sentiment saying that rates were too low to curb credit and demand growth. In late morning trade, the FTSE 100 shed 32.2 points.
Elena
27 Jun, 2007
New York City
U.S. stock futures moved to the downside Wednesday, weighed down by an unexpectedly steep decline in durable-goods orders in May. However, better-than-forecast earnings from Nike Inc. and Oracle Corp. bucked the downward trend. Nike jumped 5% in pre-open trade after posting a 32% profit rise and the fastest growth in orders in the last four years. Oracle gained 0.5% after reporting a 23% profit rise in Q4, helped by acquisition deals.
Ivaylo
27 Jun, 2007
New York City
Japan lost on brokerage houses and exporters like Toyota, while profit-taking in China-related stocks pushed Hong Kong lower. Austarlia also fell as mining giant BHP Billiton plunged for the third day in a row. In China, the Shanghai Composite index bucked the downtrend and surged on bargain hunting. The South Korean market declined on weakness in banking stocks.
Elena
27 Jun, 2007
New York City
The software giant said that net earnings rose to $1.6 billion, or 31 cents per share, compared with $1.3 billion, or 24 cents per share a year earlier. Quarterly revenues jumped 20% to $5.8 billion. Excluding charges, it would have earned 37 cents a share, exceeding analyst forecast for operating earnings per share at 35 cents and revenues at $5.61 billion. Oracle Corp. added 1.3% in pre-market trading.
Ivaylo
27 Jun, 2007
New York City
The benchmark opened higher but lack of positive cues from global markets as well as weakness in some large-caps like Hindalco, ACC and Reliance Comms weighed on the market. At the end of the session, selling pressure emerged for small-cap and mid-cap stocks, which impacted the market-breadth. IT stocks rallied on a weaker rupee. The main advancers in the Sensex stocks were Satyam and TCS, while NTPC and Reliance Comms led the decliners.
Ivaylo
27 Jun, 2007
New York City
The UK lender Northern Rock and Spanish builder Sacyr Vallehermoso led decliners on Wednesday in the fifth straight session of losses in Europe. Northern Rock added that higher interest rates are denting profit and paving the way for a new interest hike by the European Central Bank, while Sacyr Vallehermoso tumbled on a negative court decision. By mid-day, Frankfurt Xetra Dax fell 0.8%, the CAC 40 in Paris lost 0.6% and London FTSE 100 slid 0.7%.
Ivaylo
27 Jun, 2007
New York City
Gold and silver fell Tuesday as investors refrained from buying, awaiting the Federal Reserve''''s meeting this week on interest rates. Copper futures lost as well, on lack of demand from China. Declining crude oil prices and advancing Treasury yields also pulled gold and on other metals lower, while wheat prices rallied on worries about tight supplies amid strong demand.
