Elena
28 Jun, 2007
New York City
European stock markets gained ground on Thursday, boosted by solid gains among oil and gas shares, ahead of the Federal Reserve
Elena
28 Jun, 2007
New York City
U.S. market averages traded mixed, as investors showed reluctance to making big moves ahead of the Fed Reserve''s decision on interest rates. Strength in the energy sector provided some support. Crude oil prices topped $70 a barrel, sending energy stocks up. Despite the higher oil prices, airlines advanced after JP Morgan upgraded six airline stocks. Alaska Air jumped 5%, American Airlines and UAL Corp. rose 3.5% each, while Continental Airlines added 2.8%.
Elena
28 Jun, 2007
New York City
General Motors announced that it agreed to sell its Allison Transmission business for $5.6 billion to the private equity firm Carlyle Group and Onex Corp. The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. The deal, which is subject to union and regulatory approval, is expected to complete in Q3. General Motors shares rose 2%.
Elena
28 Jun, 2007
New York City
Wall Street opened mixed on Thursday ahead of the Fed Reserve''s decision on interest rates. Investors were also digesting a key reading on inflation. Gross domestic product in Q1 was revised to 0.7% from 0.6% previously, while core consumer prices rose at a 2.4% annualized pace in the quarter, revised up from the 2.2% rate previously projected.
Ivaylo
28 Jun, 2007
New York City
Property stocks led the FTSE 100 in London higher with British Land, Liberty International and Land Securities the main gainers. The rebound is also significant as the property sector has been the worst performing one since the turn of 2007. Strong closes in the U.S. market overnight and Asian markets today also supported the index. Advances in the oil sector and in Vodafone also brightened sentiment. The FTSE 100 was 0.5% higher.
Elena
28 Jun, 2007
New York City
U.S. stock market futures pointed slightly lower, reflecting cautiousness ahead of the Fed Reserve
Ivaylo
28 Jun, 2007
New York City
HK rallied Thursday on short-covering before the expiry of important futures contracts, while Japan advanced on car makers with Toyota and Nissan leading the sector. Construction stocks and nonlife insurers led South Korean market to the first gain in four days, while the idea of further government measures in China pulled the market lower. After metal prices advanced, Australia also ended higher with miner BHP Billiton in the lead.
Ivaylo
28 Jun, 2007
New York City
The benchmark index witnessed a session, dominated by cement stocks. The market traded range-bound in the latter part and ended with a modest gains. Three out of four top advancers were cement shares. ACC led the gainers, together with Gujarat Ambuja and HDFC. Bajaj Auto and ONGC were the worst performing stocks, as they were hurt by selling pressure. US wheat suppliers may not participate in tender in India next week.
Ivaylo
28 Jun, 2007
New York City
Alleviated fears over bonds yields supported most European markets higher Thursday. European advances tracked a strong session on U.S. markets on Wednesday. Higher commodity prices also buoyed energy and mining companies and as Citigroup Inc. stated shares in the region are cheap. The German DAX 30 index advanced 1% to trade, the French CAC-40 index advanced 0.9%, and the U.K. FTSE 100 index rose 0.7%.
Ivaylo
28 Jun, 2007
New York City
Crude oil and gasoline futures finished higher on Wednesday after an inventory report that showed that gasoline supplies might be diminishing. Heating oil also rose after a decline in distillate stocks surprised traders. Gold and silver prices declined, while copper futures advanced. Agriculture product prices reacted to changing weather patterns and dropped.
123jump.com Staff
27 Jun, 2007
New York City
Falling interest rates, rising tech stocks and crude oil all impacted market averages in New York. May durable goods orders fell more than expected. Financial, brokerage stocks rose again as traders put aside sub-prime lending worries for a day. Oracle, Nike and ConAgra report better than expected earnings. European markets close lower on rate hike worries. Brazil, Argentina and Mexico rebounded. Shanghai bucks the regional trend and closed up. Australia lost 2%.
Elena
27 Jun, 2007
New York City
European stock markets finished in the negative territory on Wednesday, pressured by weakness among banks and miners amid much weaker-than-expected U.S. durable goods data. British mortgage lender Northern Rock dropped 12%, insurer AXA fell 0.9%, while miner BHP Billiton lost 2.8%. The U.K.''s FTSE 100 declined 0.5%, the German DAX lost 0.8%, and the French CAC-40 slipped 0.2%.
Elena
27 Jun, 2007
New York City
U.S. market averages traded in a lackluster fashion, reflecting strength in the tech sector, weak economic data, as well as continuous worries about the subprime mortgage market and hedge fund woes. Oracle gave tech shares a boost with 2% gain on better-than-expected earnings. Banking, oil and hardware stocks moved to the downside, while semiconductors and utilities gained.
Elena
27 Jun, 2007
New York City
Nike jumped 5.8% after posting a 32% profit rise and the fastest growth in orders in the last four years. Nike reported Q4 net income of $437.9 million, or 86 cents per share, meeting the average analyst expectations. Revenue for the quarter increased 9% to $4.4 billion.
Elena
27 Jun, 2007
New York City
Wall Street opened in the negative, pressured by much weaker-than-expected durable goods orders and cautiousness ahead of the Fed Reserve''s two-day meeting on interest rates. The Commerce Department reported that durable goods orders in May dropped by 2.8%, a steeper drop than the decline of 1.7%, anticipated by investors. However, the downward trend was bucked by positive earnings releases, indicating stronger corporate profit growth in Q2.
