123jump.com Staff
17 Jul, 2007
New York City
Averages in the New York trading did not dispaly the underlying volatility in the market. Earnings from key companies like Merrill Lynch and Wells Fargo helped stocks but Coca Cola and Johnson & Johnson struggled. Most companies are reporting flat or better than expected earnings. A measure of wholesale inflation in the U.S. fell in June. European and Asian markets closed lower. oil traded above $74 per barrel. Copper and gold lost a fraction.
123jump.com Staff
17 Jul, 2007
New York City
Lyondell Chemical has agreed to $12.66 billion or $48 per share buyout from Netherlands based Basell. The total value of the deal including the debt will be $19 billion. The deal to acquire Lyondell with $22 billion sales, is the third deal, and largest in the commodity chemical segment this year. Earlier, GE managed to sell its plastics divison to Saudi Basic Industries for $11.6 billion cash and Huntsman was sold for $6.51 billion or $9.6 billion including debt to Apollo Management.
123jump.com Staff
17 Jul, 2007
New York City
Johnson & Johnson reported earnings of $1.05 per share or $3.1 billion, 9.3% increase on 13% rise in sales. The recent acquistion of Pfizer consumer health division helped the company to keep the revenue growth but the pharmaceuticals and medical devices units struggled. The stock fell 2% after the earnings report.
123jump.com Staff
17 Jul, 2007
New York City
After one hour of trading in New York, market averages are maintaing positive bias. Merrill Lynch earnings jumped 31% on 19% rise in sales on of higher fees from asset management and merchant banking and brokerage trading volume. Wells Fargo earnings jumped 9% on higher commercial loan volume. Coca Cola reported flat earnings. Charles Schwab earnings increased 16%. Asian markets closed lower but Shanghai jumped 2%.
Ivaylo
17 Jul, 2007
New York City
The UK market declined in the Tuesday morning session as broker downgrades pulled stocks lower and investors were wary about UK inflation data. BHP Billiton led miners lower after Deutsche Bank downgraded the stock and Rolls-Royce and Kelda Group also dipped on broker comment. Consumer price inflation fell to 2.4% in June from 2.5% in May. The benchmark FTSE 100 Index lost 0.6% in London in morning session.
Ivaylo
17 Jul, 2007
New York City
Taiwan led gainers in Asia as UBS raised its recommendation on the nation
Ivaylo
17 Jul, 2007
New York City
The benchmark index saw high volatility in the afternoon session after a firm morning trading. Metal, auto and banking and capital goods stocks declined, while cement, IT and real-estate stocks advanced. Reliance Industries and Ambuja Cements led the advancers, while Mahindra & Mahindra and Reliance Comms paced the declines. Ford Motor may sell a small car model in India.
Ivaylo
17 Jul, 2007
New York City
European markets declined modestly on Tuesday morning as a wave of earnings releases is eagerly awaited by investors, and as broker advice to sell four leading oil producers weighed on the sector. The subprime mortgage problem is also hurting banks. Deutsche Bank AG and Allianz led banks lower, while of dollar-sensitive stocks, Siemens slipped. All three major markets were lower with the U.K. FTSE 100 index off 0.4%, the German DAX index slipping 0.6% and the French CAC-40 index losing 0.3%.
Ivaylo
17 Jul, 2007
New York City
Gold declined slightly on Monday below a five-week high on technical sales, as the market was closely watching the descent of the dollar against the euro. Investors were wary ahead of Ben Bernanke
123jump.com Staff
16 Jul, 2007
New York City
Mild gains in Dow stocks failed to lift other large caps and technology stocks on the first day of trading. Traders voiced optimism for the second quarter earnings as the season enters the busy period. Mattel reported 15% rise in earnings but Eaton earnings fell. Both stocks jumped 3%. European markets edged higher on takeover news. RBS raised cash portion of the ABN Amro offer to 93%. Asian stocks closed lower. Korean steelmaker Posco reported strong earnings. Brazil felll 0.5%.
123jump.com Staff
16 Jul, 2007
New York City
European markets closed higher across the region, but a fraction. RBS raised its cash portion of the offer for ABN Amro for 11% higher offer than from Barclays. Spain led the region with a gain of 0.6%. Germany traded at a intra-day high. U.K. fell after largest platinum miner reported that the production will decline 14% this year. Lonmin declined 7%.
123jump.com Staff
16 Jul, 2007
New York City
Averages in New York retained positive bias after 90 minutes in trading. IHOP jumps 10% on the takeover of Applebees. Dollar remains weak in international trading. Oil and gold edge up a fraction. Construction industry equipment stocks rallied on beter than expected earnings. Terex and Manitowoc lead the sector. European markets trade mixed but Germany hits record high. Brazil trades near record level.
123jump.com Staff
16 Jul, 2007
New York City
Markets in New York traded higher on takeover news, falling dollar, rising crue oil prices and the start of earnings season. Applebees has agreed to be acquired by IHOP for $2.1 billion. McDonalds expects second quarter loss to be 60 cents. Euro traded at record high in Europe at mid-day trading. Korean steelmaker Posco, reported better than expected earnings. Ford is considering to sell Vovlo. Copper gains 1% in London trading.
Ivaylo
16 Jul, 2007
New York City
London fell for the first time in three days, led by Lonmin after the mining company announced it will delay the sale of as much as 90,000 ounces of platinum. Barclays led the advancers after Royal Bank of Scotland improved its offer for ABN Amro. In broker news, Royal Dutch Shell fell Monday as HSBC cut its rating on the stock. The benchmark FTSE 100 Index lost 0.3% at mid-day in London.
Ivaylo
16 Jul, 2007
New York City
Asian stocks finished mostly lower Monday with Hong Kong dropping from a record high and Australian market declining weighed down by mining firms BHP Billiton and Rio Tinto. Japanese markets were closed for a national holiday. In South Korea, the index dipped as banking stocks were hit by the slump in the U.S. mortgage market. Worries of another policy tightening weighed on stocks in China.
