Elena
27 Feb, 2007
New York City
Through the investment, Wal-Mart will expand its presence in China''s fast-growing retail market. Financial details of the deal were not revealed, but according to reports Wal-Mart agreed to pay $1 billion for the stake. The company said that it is planning to acquire ownership control in the future.
Ivaylo
27 Feb, 2007
New York City
The market opened with a positive bias but sentiment was embittered as the ruling Congress party lost in two state polls. That, coupled with the record plunge in the China market, pressed Indian stocks lower. Volatility was high and all sectors ended in negative territory. HDFC Bank, ACC and Maruti led the few gainers, while Bajaj Auto and Hero Honda led the decliners. The government said growth is sustainable despite rising inflation.
Ivaylo
27 Feb, 2007
New York City
European strocks declined tracking weaker global stock markets on Tuesday, fueled by comments about a possible US recession from former Federal Reserve chairman Alan Greenspan. Banks contributed the most weight to the losses, especially those connected to emerging markets. By mid morning, Frankfurt Xetra Dax shed 1.5%, the CAC 40 in Paris lost 1.6% and London FTSE 100 fell 1.5%.
Ivaylo
27 Feb, 2007
New York City
Gold and silver futures advanced Monday due to fund buying, supported by technical factors and a modestly stronger tone in crude oil. The funds continue to be prominent buyers on any declines in the market. They are being prompted by technical and momentum buying, along with the slightly weaker dollar as of late. In addition there is some slight strength in the energy markets. The metals market continues to monitor tensions between the U.N. and Iran as well.
123jump.com Staff
26 Feb, 2007
New York City
Stocks traded lower in financial and industrial sector and on expectations of a big downward revision in gross-domestic product. Worries related to sub-prime loans default and possible slow down for the ratings services business affected McGraw Hill and Moodys. Financial stocks including banks and mortgage lenders declined. American Express and Citigroup lost grounds. TXU agreed to $45 billion buyout from KKR.
123jump.com Staff
26 Feb, 2007
New York City
Stocks traded lower in financial and industrial shares and expectations of a big downward revision in gross-domestic product, as merger news, including a buyout deal for utility giant TXU failed to push the major indexes higher. Apax Partners agreed to purchase Chicago insurance brokerage Hub International for about $1.7 billion. Financial companies declined. American Express dropped 1.4%. Among Dow components, Home Depot was 1.2% lower; while AT&T was up 1.2%.
Elena
26 Feb, 2007
New York City
European stocks finished Monday trading session in the positive, boosted by gains for insurance, oils and metal stocks. Earnings-related gains from companies such as Associated British Foods and insurer Old Mutual also contributed to the upward move. The German DAX 30 rose 0.5%, helped by Allianz, up 3% and Munich Re, up 2.5%. The French CAC-40 climbed 0.8%, lifted by 3.9% from steel giant Arcelor-Mittal. The U.K.''s FTSE 100 rose 0.5%, helped by mining shares.
Elena
26 Feb, 2007
New York City
U.S. stock market averages turned mixed in late morning trading, as oil prices jumped above $62 offsetting merger activity, including the $45 billion acquisition of UTX, the biggest private-equity deal ever. The Dow remained in the positive, helped by 3.8% gain for drug maker Merck and 1.3% for Coca-Cola on the back of brokerage upgrades. The tech sector was weighed down by Arris Group, falling 11% after Ericsson bid $1.4 billion for Tandberg Television, topping Arris'' offer.
123jump.com Staff
26 Feb, 2007
New York City
Indian Railways Minister Lalu Prasad released his fourth railways budget. The current budget estimates to invest 31,000 crore rupees and expects the operating ratio to rise to 78%. The budget also lowere passenger tariffs between 2% and 8% and certain freight tariffs between 4% and 5%. Iron ore and steel products tariffs are expected to rise. Minister Prasad expects Railways to add 8,000 railways security staff.
Elena
26 Feb, 2007
New York City
U.S. stocks opened notably higher Monday on well-received deal news, including the $45 billion takeover of TXU Corp. The shares of the utility jumped 13% after agreeing to be bought by a consortium led by Kohlberg Kravis & Roberts and Texas Pacific Group. In other news, Station Casinos gained 4.2%, after Company Management and Colony Capital agreed to buy the casino-operator for $8.8 billion.
Ivaylo
26 Feb, 2007
New York City
The FTSE 100 moved higher on Monday, supported by oil stocks and an upbeat trading statement from Associated British Foods. Housebuilder Persimmon topped market forecasts. Oil stocks were firm as the price of oil advanced. After a strong session in Asia, miners were also stronger with Kazakhmys leading the gainers. By late morning, the FTSE 100 gained 43.7 points at 6,446.4.
Elena
26 Feb, 2007
New York City
U.S. stock market futures moved higher on Monday, boosted by a multi-billion takeover of utility giant TXU which raised consolidation hopes. Shares of TXU jumped 13% in the pre-open after agreeing to be bought by a private-equity group for $45 billion, including $13 billion in debt. In another deal, Company management and Colony Capital agreed to buy Station Casinosfor $8.8 billion, including $3.4 billion in debt.
Ivaylo
26 Feb, 2007
New York City
Asian stock markets finished mixed Monday, with Japan advancing on gains in Sony and Softbank, but other regional markets declined. HK plunged, while Australia rose on Rio Tinto which led gainers. South Korea advanced, but Singapore fell. After a long break, Taiwan and China resumed trading and ended in positive territory. Taiwan was boosted by gains in the real estate sector.
Elena
26 Feb, 2007
New York City
The biggest electricity producer in Texas announced an agreement to be acquired by a group including Kohlberg Kravis Roberts & Co., Texas Pacific Group, Goldman Sachs and three other firms. The acquisition is worth about $32 billion, including the assumption of $13 billion in debt. If the deal completes, it would be the largest private buyout in U.S. corporate history.
Ivaylo
26 Feb, 2001
New York City
The market broke the four-session losing streak and ended in positive territory today. The Railway Budget set the tone for the day, as the cut in fares and particularly the reduction in freight rates boosted metal stocks. Other sectors that rallied included cement, banking and auto shares, as a rebound in Reliance Industries also helped the market. Gujarat Ambuja and ACC led the gainers, while Bharti Airtel led the decliners.
