Elena
18 Jun, 2007
New York City
European stock markets finished slightly lower on Monday, despite merger-and-acquisition activity, with Akzo Nobel and rival paint producer Imperial Chemical Industries in focus. ICI jumped 15.6% after rejecting a 600-pence takeover approach from Akzo Nobel whose shares dropped 1%. The German DAX 30 rose 0.1%, while the U.K.''s FTSE 100 lost 0.4%, and the French CAC 40 fell 0.3%.
Elena
18 Jun, 2007
New York City
Stock market averages turned in a lackluster performance in late morning trading, unable to sustain the earlier gains made on the heels of merger-and-acquisition new. Market failed to extend last-week rally, despite a report that BHP Billiton is planning a bid for Alcoa. Shares of the aluminum giant rose 2.5%. Worries about the subprime sector reignited on news that a group of hedge fund managers at Bear Stearns try to line up new investors to keep a fund invested in subprime assets afloat.
Elena
18 Jun, 2007
New York City
Shares of Genesco climbed 8.3% after the footwear and accessories retailer agreed to be acquired by Finish Line in a cash-deal worth $1.5 billion. In other deal-related news, BHP Billiton is reportedly reviewing plans to make a $40 billion offer for Dow component Alcoa. Shares of the aluminum giant rose 1.8% on the news.
Elena
18 Jun, 2007
New York City
U.S. stock market advanced at opening Monday, trying to extend last-week rally on the back of deal-making news. Dow component Alcoa gained 2% after a report said that BHP Billiton was considering a $40 billion acquisition bid of the aluminum producer. Boeing also drew attention as the Paris Air Show began and the airline carrier signed two small contracts. The stock lost 0.3%.
Elena
18 Jun, 2007
New York City
U.S. stock futures posted modest gains on Monday, supported by deal speculation involving aluminum producer Alcoa. Company''s shares rose 2.4% amid reports that BHP Billiton is reviewing plans to buy the aluminum producer. Investors were also awaiting signals of whether market will continue to recover and bond yields will remain in check.
Ivaylo
18 Jun, 2007
New York City
Although the market opened Monday with a positive bias on upbeat global cues, it saw a highly volatile session and ended lower. Infosys led IT stocks lower on the further appreciation of the rupee, auto shares also lost. ICICI Bank advanced supported by its new IPO, due on June 19. The rupee advanced 0.4% against the dollar today. The latest circular issued by the CBDT on Friday, June 15 2007, did not clarify the norms on tax on profit/gain coming from the sale of shares.
Ivaylo
18 Jun, 2007
New York City
European stocks were range-bound early on Monday, with markets intent on merger-and-acquisition activity including Akzo Nobel''''s long-awaited move for rival paints maker Imperial Chemical Industries. The markets had strengthened over the past three sessions, boosted by stabilizing bond yields and a softer reading of U.S. core inflation. The FTSE 100 was steady, the German DAX 30 gained 0.6% and the French CAC 40 edged 0.1% higher.
Ivaylo
18 Jun, 2007
New York City
Gold and silver futures advanced modestly on Friday after U.S. government data showed tamer consumer-level inflation, which suggested the Federal Reserve is unlikely to raise interest rates. Grain prices also gained, lifted by weather-related concerns and ever-surging ethanol demand. It was a stron week for commodities with gold climbing 1.3% higher and copper surging 4.9%.
123jump.com Staff
15 Jun, 2007
New York City
New York rally was built on the hope that mild core inflation data will keep consumers in the spending mood. U.S. also reported first quarter current account deficit of $192 billion. Nymex rallied on merger rumors and Intel rose on upgrade from Goldman Sachs. European stocks rallied led by German banks. Banks in Hong Kong led the index higher. Shanghai and Brazil surged more than 4% in the week. Tokyo Stock Exchange buys 5% stake in Singapore Exchange. Bank of China to issue yuan bonds in HK.
Elena
15 Jun, 2007
New York City
Wall Street opened higher Friday, with the three major averages accelerating quickly to climb 1% soon after the market opening. The rally was fueled by the release of some relatively tame inflation data. Consumer prices rose 0.7%, their fastest pace since September of 2005, while core consumer prices showed a much more modest increase of 0.1%, coming in below analyst estimates. Intel also gave a boost, rising 3.4%after Goldman Sachs upgraded its stock to buy from neutral.
Ivaylo
15 Jun, 2007
New York City
The UK benchmark index continues to trade at record highs on strong gains at J Sainsbury on bid speculation, while stronger metal prices are giving miners a boost. William Morrison and Tesco are both well ahead in sympathy, while pub groups that also have large property interests are also going well. The benchmark FTSE 100 Index added 0.6% at noon.
Elena
15 Jun, 2007
New York City
U.S. stock futures indicated a strong opening for a third consecutive session, boosted by inflation data which helped eased recent stock and bond markets concerns. The consumer price index in May showed prices rose at the fastest pace in 20 months on higher gas prices, while core consumer prices rose a lower-than-expected 0.1%. A broker upgrade of microchip giant Intel also generated positive mood.
Ivaylo
15 Jun, 2007
New York City
Asian markets advanced, with Japanese Nikkei 225 at the forefront of advance as steelmakers and export stocks gained after the U.S. dollar sustained its rise against the yen, while Hong Kong-listed shares of China-incorporated companies recorded new highs. In Hong Kong, expectations for a removal in interest income tax on the mainland drove shares of China-based financial companies sharply higher. In South Korea, the market hit a new record on brokerage and insurance stocks.
Ivaylo
15 Jun, 2007
New York City
The benchmark index opened higher on firm global market and until noon traded in positive territory also helped by upbeat inflation data. Selling in metals and IT large-caps weighed on the market in the last hour of trading. BHEL and Maruti led the advancers, while Tata Steel and HDFC led the decliners. DLF
Ivaylo
15 Jun, 2007
New York City
European stocks were higher Friday with banks and oil groups leading the advance. EADS is also higher on government support and after a Qatar fund bought shares in J Sainsbury. As crude oil remained above $70 a barrel, oil stocks gained. In late morning trade, Frankfurt Xetra Dax added 0.6%, the CAC 40 in Paris climbed 0.4% and London FTSE 100 rose 0.6%.
