Ivaylo
20 Jun, 2007
New York City
European markets advanced for the first time in three days as a declining in borrowing costs in the U.S. and Europe buoyed insurers and banks. Advancers in mining and autos also offset weakness from retailers H&M and DSG International. The German DAX index rose 0.9% after striking a seven-year high of 8,104.39 early in the session. The French CAC-40 index advanced 0.5% and the U.K. FTSE 100 index climbed 0.5%.
Ivaylo
20 Jun, 2007
New York City
Gold futures advanced for the fourth day in a row Tuesday, edging higher on weakening U.S. Treasury yields and a softer U.S. dollar. It was a mixed day overall for commodities, with grains retreating sharply as investors took profits from last week significant advance, and crude oil declining and then rebounding on labor unrest in Nigeria and Brazil.
123jump.com Staff
19 Jun, 2007
New York City
In New York, averages rose in cautious trading on weak housing starts. May starts fell 2.1%, hurting builder stocks, dollar and copper in commodities trading. Home Depot agreed to sell its division to private equity group for $10.3 billion and said that it plans to spend $22.5 billion to purchase its stock. Expedia rose 14%, company announced to buyback 42% of its stock. Tesco in London fell 5% on slower growth. India gained 1.5% on $8 billion of IPO. Korea and Shanghai close at record level.
Elena
19 Jun, 2007
New York City
European stock markets finished in the red on Tuesday, led by weakness in retail and airlines stocks. British supermarket giant Tesco fell 4.9% after it reported weaker sales. U.K. rivals J Sainsbury and William Morrison also moved to the downside, while France''s Carrefour lost 1.5%. The U.K.''s FTSE 100 fell 0.8%, the French CAC-40 declined 0.3%, and the German DAX Xetra 30 edged down 8,033.52.
Elena
19 Jun, 2007
New York City
U.S. stocks turned in a lackluster performance, reflecting mixed housing data showing that May home construction fell roughly in line with estimates, while building permits rose more than expected. Quarterly earnings decline posted by electronics retailer Best Buy weighed on the sentiment, raising concerns about consumer spending. In other earnings news, Carnival added 1% after the world''s largest cruise group posted a 3% profit increase in Q2.
Elena
19 Jun, 2007
New York City
Expedia, online travel site operator, surged 16% after the company said it will repurchase up to 42% of its common stock for $3.5 billion. The company is considering repurchase of as many as 116.7 million shares for at least $27.50. In other corporate news, Home Depot agreed to sell its supply division to three private equity firms in a deal worth approxiamtely $10 billion.
Elena
19 Jun, 2001
New York City
Wall Street opened below the flat line after data showing a smaller-than-expected drop in home construction failed to offset disappointing earnings from Best Buy, as well as concerns about rising crude oil prices. In corporate news, Blackstone Group is expected to price its long-awaited IPO on Thursday. The private equity fund plans to sell investors a 12.3% equity stake in its management business for about $4 billion, with shares expected to price between $29 to $31.
Ivaylo
19 Jun, 2007
New York City
Tesco and Vodafone led the UK market lower in mid-day trading. Tesco, the biggest retaler in the UK, reported disappointing Q1 same-store results and Vodafone weighed as there were reports that American giant AT&T was not interested in bidding for the British company. Capita led gainers on broker comment, while the rise in oil prices boosted BP. The benchmark index, FTSE 100, lost 0.4% to 6696.9.
Elena
19 Jun, 2007
New York City
U.S. stock futures recovered from earlier weakness following a report that showed a slightly smaller-than-expected drop in the pace of May home construction. The Commerce Department said that housing starts fell by 2.1% to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3%. However, disappointing quarterly results reported by Best Buy prevented stock futures from getting into the positive territory.
Ivaylo
19 Jun, 2007
New York City
Asian markets advanced Tuesday with industrial stocks gaining in South Korea and Japan, while China was boosted by property development shares. Leading gainers in Japan were Kawasaki Heavy, Oji Paper and Tokushi Tokai, and in South Korea Daelim Industrial and Daewoo Engineering & Construction. Stock markets in Hong Kong and Taiwan were closed for holidays.
Elena
19 Jun, 2007
New York City
The electronics retailer said its quarterly profit fell to $192 million, or 39 cents per share, from $234 million, or 47 cents per share a year ago. Revenue rose 14% to $7.93 billion, from $6.96 billion last year. Quarterly results came in below earnings estimates of 49 cents a share, but topped revenue expectations of $7.85 billion.
Ivaylo
19 Jun, 2007
New York City
The benchmark index rallied Tuesday buoyed by the FPO of ICICI Bank which was fully subscribed within an hour of sale opening. Intense buying in large-caps ONGC, Reliance Industries, Tata Steel also aided the rally. Infosys led IT stocks lower on further appreciation of the rupee. SBI was the top performer on the market, while Satyam was the worst. Sterlite Industries sold $1.75 billion of stock through the issue of American depository shares.
Ivaylo
19 Jun, 2007
New York City
European stocks gained slightly on Tuesday morning supported by oil exploration companies on the strength of oil prices hovering above $69 a barrel and on Bayer as the pharmaceutical company upped its earnings outlook. The only disappointment came from Tesco, which missed market estimates. The U.K. FTSE 100 index rose 0.2%, the German DAX Xetra 30 index increased 0.4% and the French CAC-40 index advanced 0.3%.
Ivaylo
19 Jun, 2007
New York City
Gold futures advanced slightly Monday for the third straight day as the market kept a close eye on the U.S. dollar dipping against the euro and Treasury yields holding steady. Platinum and copper prices also gained, boosted by labor unrest at major producers. Crude oil prices surged to levels unattained since September after labor unions in Nigeria called for a general nationwide strike.
123jump.com Staff
18 Jun, 2007
New York City
Merger talks in New York, Europe and Asia helped weak averages in New York trading, but at close, market averages declined. BHP is reported to consider reviving buyout plans for Alcoa. In Europe, Imperial Chemical received a bid of $14 billion. In Asia, the yen rose to a seven-year high against dollar and euro. Hong Kong and Korea closed at new high. Brazilian currency, the Real gained ground against dollar. Yahoo, in the after hours rose 9%. Terry Semel, CEO of the company resigned.
