Elena
22 Mar, 2007
New York City
European stocks closed steeply higher on Thursday, boosted by FOMC statement. Rate-sensitive construction stocks such as Saint Gobain and Acciona rose more than 1.3%. Further boost was provided by gains for banking firms. ING Group added 2.7% on merger speculation, with its main targets being Dexia, up 4.2%, Fortis, up 4.4% and KBC higher by 2%. The German DAX Xetra 30 surged 2.2 %, the French CAC-40 rose 1.8%, and the FTSE 100 added 1% in UK.
Elena
22 Mar, 2007
New York City
U.S. market ailed to extend the strong rally of the previous session, as lingering worries about the subprime mortgage market and rising oil prices weighed. Shares of Orient-Express Hotels climbed 5.5%, hitting a new 52-week high after a news report that the operator of hotels, restaurants, tourist trains may be bought in a deal worth more than $3 billion.
Ivaylo
22 Mar, 2007
New York City
Retailer Next led the advance in London as the FTSE gained for a fifth consecutive session. Sentiment was boosted by a strong performance on U.S. market overnight as investors received well the decision by the US Federal Reserve to keep interest rates on hold. The FTSE 100 was up 85 points in early trading, and was trading 40.5 points higher at 6,297.3 at mid-day.
Elena
22 Mar, 2007
New York City
Wall Street moved to the downside on Thursday, giving up some of the previous sessions''s buying interest. Investors awaited more economic data to see if market rally could extend or profit-taking will be the course of action. The Conference Board said that the index of leading economic indicators fell 0.5% in February, close to the 0.4% drop expected by economists, with four of the 10 indicators increasing.
Ivaylo
22 Mar, 2007
New York City
Asia advanced Thursday, with Japanese Nikkei hitting a three-week high as Sony and other export-related shares surged as the yen weakened against the dollar. The advance of Asian stocks came on the back of U.S. market strength on Wednesday. Sentiment was lifted across the region after the Federal Reserve kept the rate unchanged and indicated that the next move in rates might be lower. China ended at a record and HK also advanced.
Ivaylo
22 Mar, 2007
New York City
The Sensex rallied over 300 points supported by sustained buying across the board. Robust markets in Asia and strong close on US market helped the Indian benchmark index. The decision of the Fed to keep rates intact also boosted sentiment, as rate cuts are believed to shift investment to emerging markets. Today, BHEL led the advancers in a broad-based rally, while the only decliner in the Sensex stocks was Grasim. The rupee retreated from 19-month highs on Thursday.
Elena
22 Mar, 2007
New York City
U.S. stock futures predicted a flat market opening, following a strong rally on Wednesday, inspired by the Fed Reserve
Ivaylo
22 Mar, 2007
New York City
European equities rose, tracking US markets after the Federal Reserve shifted from its rate-tightening bias. Shares in ING rose after the leading Dutch bank said it was looking at its strategic options including acquisitions beyond the Benelux region. Elsewhere, takeover speculation continued to drive shares. By midday, Frankfurt Xetra Dax rose 1.7%, the CAC 40 added 1.4% and London FTSE 100 climbed 0.8%.
Ivaylo
22 Mar, 2007
New York City
U.S. cocoa futures surged Wednesday for a second day in a row on speculative buying that took prices to another contract high. Dry weather this year in Ivory Coast, the West African country that is the leading producer of cocoa beans in the world, is causing market participants to reduce their production estimates. Precious metals declined with gold bucking the trend.
123jump.com Staff
21 Mar, 2007
New York City
With the decision to leave the target fed funds rates unchanged at 5.25%, market wasted little time in taking averages to a record level for the day. Financial stocks rallied but oil closed higher at close. Morgan Stanley rose on 69% rise in earnings, however, FedEx dropped on 2% lower earnings. U.S. Auto Parts, recently listed IPO, lost 40% of its value on the first earnings report as a public company. Cintas fell on lower than expected earnings and weak 2007 outlook. Nasdaq gained 47.
123jump.com Staff
21 Mar, 2007
New York City
Stocks in the U.S. jumped as traders welcomed the latest Federal Reserve statement on the economy. Software companies showed gains. Oracle advanced 2.2%. Adobe Systems rose 5.5%. FedEx quarterly revenue climbed more than 7% year over year. Recently listed IPO, U.S. Auto Parts fell 45% on loss compared to a profit a year ago. Cintas dropped nearly 10% on disappointing third quarter and lower 2007 outlook. Market averages continue to rise after the Fed Decision to not change the target rate.
123jump.com Staff
21 Mar, 2001
New York City
The Federal Open Market Committee left the target fed fund rates unchanged at 5.25% for the sixth meeting in a row. The Fed raised the target rate last time in June 2006 meeting. Financial, Industrials and large cap stocks rallied on the news. Recent troubles in the mortgage lending business and persistent core infaltion may force the Fed to keep rates higher for several more months to come. The Fed noticed that the economic indicators are softening and housing market is still adjusting.
Elena
21 Mar, 2007
New York City
European stocks ended moderately higher on Wednesday, lifted by strength in the real estate sector. Declines from retailers Metro and Inditex put a floor on gains. Shares in Hammerson, Anglo-French property developer, rose 4.8% on speculations that the company may be in line for a bid either from Unibail of France or a private equity consortium. The U.K. FTSE 100 rose 0.6%, the German DAX 30 added 0.2%, the French CAC 40 finished flat.
Elena
21 Mar, 2007
New York City
U.S. stocks lost direction in early Wednesday trading, with many traders staying on the sidelines ahead of the Federal Reserve''s announcement on interest rates. Software and computer hardware stocks moved notably higher. Adobe Systems climbed 3.7% after it reported a 37% profit rise. Oracle rose 3.7% after reporting a better-than-forecast 35% jump in quarterly profit.
Ivaylo
21 Mar, 2007
New York City
Equity stocks traded higher in London on Wednesday as investors responded favourably to the minutes of the Bank of England meeting and what is thought to be the last budget of Gordon Brown as chancellor. Earlier, the Bank of England monetary policy committee voted in favour of keeping interest rates on hold. By late lunchtime, the benchmark index was 43.2 points higher at 6,263.5.
