Ivaylo
14 Mar, 2007
New York City
The benchmark index opened with a strong negative bias on the overnight sell-off on Wall Street and weak Asian markets. The Sensex stocks declined sharply with IT, telecom and banking stocks leading. ICICI Bank was the most prominent decliner, Bharti Airtel and Wipro were severely hit. Cement stocks pared losses, though. Gujarat Ambuja gained, together with Bajaj Auto. The production of six core industries moved up 8.7% in January 2007 when compared with 8.2% in January 2006.
Ivaylo
14 Mar, 2007
New York City
European markets plunged in morning trading Wednesday, with banking stocks such as Credit Suisse and Deutsche Bank suffering heavily, after concernss about the spread of subprime mortgage losses made US stock tumble in late trading overnight. European banks with a U.S. lending business also fell. The French CAC 40 index lost 1.7% at 5,343.22, the German DAX 30 index gave up 1.6% at 6,520.32 and the U.K. FTSE 100 index fell 1.3% at 6,081.20.
Ivaylo
14 Mar, 2007
New York City
Gold and silver futures finished lower Tuesday, pushed down by weakness in stocks and a retreat in crude oil from earlier highs. There was a little pullback from the rally in higher energy prices and also gold fell back in tandem with the global equity-market sell-off occurring in the afternoon. Silver and palladium fell in sympathy, while platinum bucked the trend and rose.
Elena
13 Mar, 2007
New York City
European stocks finished notably down Tuesday amid concerns over U.S. retail sales and more subprime mortgage woes. Heavy losses for French Lagardere and SABMiller further pressured the European markets. Lagardere dropped 3.6% after the media group reported a 57% fall in 2006 net profit.Shares in U.K. brewer SABMiller lost 4.4%. The German DAX 30 slipped 1.4%, the French CAC 40 dropped 1.2% and the U.K. FTSE 100 fell 1.2%.
Elena
13 Mar, 2007
New York City
Concerns over mortgage subprime lenders and weaker-than-expected retail sales weighed heavily on the market sentiment. That alarm offset a profit report from Goldman Sachs Group that came in well above analyst forecast. The stock rose 1.4%. In the tech sector, Texas Instruments fell 1.3% after it reduced its Q1 profit and sales forecasts. Sandisk however, rose 2.6% after UBS upgraded it to buy. Revlon said it swung to a Q4 loss, due to lower U.S. sales and restructuring costs.
Ivaylo
13 Mar, 2001
New York City
Shares in SABMiller led losses among London large-cap stocks after it lost a big contract in South Africa while another gloomy trading update from HMV further dampened sentiment. Alliance Boots rose on hopes that the board firm rejection of KKR and Stefano Pessina offer could encourage the latter to offer more. Among the mid caps HMV fell after it warned that trading conditions have deteriorated. The FTSE 100 was 11 points lower to 6,222.3 in early trade in London.
Elena
13 Mar, 2007
New York City
U.S. stocks steeply dropped at opening Tuesday amid growing concerns about the viability of subprime mortgage lenders and worries that their troubles might spread to other sectors too. New Century Financial was again the main drag on the market as the NYSE said it would immediately suspend trading in its shares and move to delist the stock. New Century revealed that regulators began investigation into accounting errors that inflated the value of the company''s loan portfolio.
Ivaylo
13 Mar, 2007
New York City
Asian-Pacific markets closed mostly lower Tuesday with a moderate decline in Japanese stocks as investors sold blue-chip exporters such as Sony and Toyota. Japanese export-related stocks plunged after the yen gained against the dollar in U.S. trading, reflecting a reduced desire for risk. In Hong Kong shares finished lower as profit-taking offset stronger-than-expected results. In China, the benchmark index bucked the overall downtrend and advanced.
Ivaylo
13 Mar, 2007
New York City
The Sensex opened with a positive bias and rallied until noon but turned highly volatile in early afternoon. Fresh buying in late afternoon at lower levels, mainly in metal and technology stocks, helped the index finally end with a gain. Satyam led the gainers, together with TCS, Grasim and Tata Steel, while Hindustan Lever led the decliners. The government said that the RBI has no objections on raising bank credit to minorities.
Ivaylo
13 Mar, 2007
New York City
European shares edged lower Tuesday on broad but mild selling pressure as traders looked for a new catalyst after a recent burst of mergers-and-acquisitions activity, though truck maker Man reported strong gains on hopes that it will be part of the M&A wave. European stocks fell also on speculation that rising loan defaults in the U.S. will hurt earnings at the regional banks. Broadly, the German DAX 30 index fell 0.4%, the French CAC 40 dipped 0.2% and the U.K. FTSE 100 lost 0.4%.
Ivaylo
13 Mar, 2007
New York City
Gold prices declined Monday, while silver prices advanced in what traders described as largely a consolidation session. Gold was holding onto gains most of the day, then gave way in the last 30 minutes. Silver was also holding onto its gains and did a very good job of doing that consistently. Crude oil fell more than $1 a barrel to settle below $59 a barrel, tracking forecasts for above-normal U.S. temperatures. Copper advanced on strong demand from China.
Elena
12 Mar, 2007
New York City
European stocks finished in the negative on Monday, reflecting growing concerns over the U.S. mortgage market which offset some merger and acquisition deals in the pharmaceutical sector. Akzo Nobel surged 15% after it agreed to sell its Organon BioSciences unit to Schering-Plough Corp. The deal also drove shares in the U.K.''s Imperial Chemical Industries up 5.4%. The French CAC 40 dropped 0.8%, the U.K.''s FTSE 100 dipped 0.2%, the German DAX 30 finished unchanged at 6,715.49.
Elena
12 Mar, 2007
New York City
U.S. stocks traded in a lackluster fashion. On the one hand, significant merger-and-acquisition news generated some buying interest, but on the other, disappointing news from New Century Financial added to recent concerns about a crisis in the subprime mortgage business. Investors were also awaiting key inflation data later this week. In M&A, discount retailer Dollar General surged 27% after it agreed to be bought by affiliates of private equity firm Kohlberg Kravis Roberts & Co. for $7.3 B.
Ivaylo
12 Mar, 2007
New York City
The FTSE 100 turned down after early gains on the back of hopes of more takeovers in the wake of last week
Ivaylo
12 Mar, 2007
New York City
Asian markets closed higher Monday, with the Japanese markets lifted by shares in exporters, which rose on a weaker yen. Japanese economy expanded at a revised 5.5% annualized pace for the October to December period, up from an initial estimate of 4.8% growth. Around the region, leading share indexes gained, tracking a stronger close on US markets Friday after a labor report showed an upbeat US labor report.
