Elena
13 Jun, 2007
New York City
U.S. stocks recovered from earlier weakness to open higher on Wednesday. Market sentiment improved on optimism about profit growth after strong retail sales in May indicated strength in consumer spending. The dollar rallied, reaching a four-month high vs. the yen and an 11-week high against the euro after the retail sales data. In addition, bond yields retreated from five-year highs.
Ivaylo
13 Jun, 2007
New York City
London markets were higher by mid-day on Wednesday, despite gilt yields hit seven-year highs, following US benchmark bond yields and thus added to worries of higher corporate borrowing costs. A stronger mining sector and boyant Royal & Sun Alliance helped London recover most of its early losses. At mid-day, the FTSE 100 canceled out early morning losses and was trading up 0.07%.
Elena
13 Jun, 2007
New York City
U.S. stock futures traded lower on Wednesday, following several weak sessions in a row and news that U.S. retail sales advanced 1.4% in May. This is the biggest gain in 16 months, coming in well above analyst expectations of a 0.7% increase. Consequently, the dollar continued its recent upward move. In addition, bond yields on 10-year Treasurys jumped 5.315%, up from 5.25% on Tuesday.
Ivaylo
13 Jun, 2007
New York City
Most indexes in Asia finished lower on Wednesday with Japan falling as worries over increasing interest rates weighed on real-estate stocks, while HK dipped on a drop in property stocks. In South Korea brokerage companies surged, but could not support the market higher, while China continued its winning streak and gained for the seventh straight time. Australia declined as higher U.S. bond yields impacted the local market as well.
Elena
13 Jun, 2007
New York City
Investors led by The Blackstone Group, Goldman Sachs, Kohlberg Kravis Roberts and TPG revealed their bid offer of $46 a share, or $11.4 billion, for medical devices maker Biomet. The offer and withdrawal rights expire at 12:00 a.m.ET on July 11.
Ivaylo
13 Jun, 2001
New York City
The benchmark index was highly volatile Wednesday, going in and out of positive territory. Trading started on a positive bias, but slipped into negative zone as there appeared to be no fresh buying interest. The sell-off was broad-based and hurt mostly banks and capital goods sector. SBI and Reliance Comms were the worst performing stocks, while Dr Reddy
Ivaylo
13 Jun, 2001
New York City
European stocks were lower on Wednesday on a number of factors including the sharp fall on Wall Street overnight. U.S. markets declined yesterday after yields on 10-year Treasury notes surged to the highest in five years, raising fears of rising interest rates, which would weigh on the demand for equities. Allianz and British Energy led declines by insurers and utilities, among the most sensitive to higher interest rates. Alliance & Leicester and Inditex gave Europe some relief.
Ivaylo
13 Jun, 2007
New York City
Industrial metal prices sank on Tuesday with copper down more than 2% down on slowing demand from China. Chinese drop was expected though, as the country
123jump.com Staff
12 Jun, 2007
New York City
Bear market in bond market in the U.S. and worries of rising rates in Europe dragged averages lower on both sides of Atlantic. Weak treasury auction sparked sell-off. Asian markets gained on rising metals and energy prices. In New York oil and gold fell. Latin markets tracked lower averages in New York. Lehman Brothers reported 27% rise in income and lifted other brokerage stocks. Inflation in China and industrial production in India were reported above expectations.
Elena
12 Jun, 2007
New York City
European stock markets closed down on Tuesday. Uncertainty about the direction of global interest rates continued to weigh on the sentiment, driving investors to sell banking shares. HBOS shares dropped 3.6% after it said its position in the U.K. mortgage market fell sharply in the first half of the year. Bradford & Bingley fell 2.3% and Northern Rock dipped 2.8%. The U.K.''s FTSE 100 dropped 0.7%, the German DAX Xetra 30 lost 0.4%, and the French CAC-40 fell 0.7%.
Elena
12 Jun, 2007
New York City
U.S. stock market averages remained in the negative territory, as record-high bond yields and weakness in the tech sector weighed on sentiment. the downward trend was bucked by Lehman Bros shares, which advanced 2.2% on 27% profit increase in Q2. Boeing was the biggest decliner on the Dow, losing 1.2%. Alcoa, Merck and Hewlett-Packard also dragged the blue-chip average, each falling about 1%. Microsoft led decliners on the Nasdaq, miving lower by 0.7%.
Elena
12 Jun, 2007
New York City
Wall Street opened Tuesday trading session in the negative, as bond yields extended their surge, adding to recent concerns that the Fed Reserve will not cut interest rates in the near term. The absence of economic data also prevented the market from moving upward. Retail sales, producer Price Index, and the Consumer Price Index are all due out later this week.
Ivaylo
12 Jun, 2007
New York City
The UK market plunged into negative territory by midday on Tuesday, despite slower-than-expected inflation lifting some stocks. Banking stocks dipped on reports of a smaller mortgage market share at HBOS. Rolls Royce led advancers on news that it may become sole supplier of engines for Airbus A350. The FTSE 100 was trading down 0.3%, at mid-day.
Elena
12 Jun, 2007
New York City
U.S. stock futures were indicating a lower market opening on Tuesday, pressured by a continuously rising bond yields. The yield on the benchmark 10-year Treasury note jumped to 5.21% from 5.16% late Monday. Stronger-than-expected Q2 profits reported by Lehman Brothers failed to generate positive sentiment. Investment firms Bear Stearns and Goldman Sachs Group are scheduled to release quarterly results later in the week.
Ivaylo
12 Jun, 2007
New York City
Asian markets closed mostly higher Tuesday on increasing oil and metal prices which supported energy and mining shares, while the Japanese benchmark index bucked the uptrend and declined on profit-taking. China Mobile lifted HK, despite poor performance from property stocks, while China advanced on electricity producers. BHP Billiton helped the Australian market to finish higher.
