Elena
03 Jan, 2007
New York City
Stock market averages continued to rally in early afternoon trading Wednesday, driven by stronger-than-expected manufacturing data, a notable decline by the oil price and gains for leading retailer companies. Both Wal-Mart and Home Depot rose above 3%, pushing the Dow Jones to a new trading high. General Motors was one of the very few losers on the Dow, falling 2.5% after Banc of America downgraded the stock to sell from neutral.
Elena
03 Jan, 2007
New York City
European stocks closed little changed on Wednesday. Markets hovered near six-year highs, reflecting robust opening on Wall Street and better-than-expected U.S. factory data. Steelmakers, including ThyssenKrupp and Mittal Steel, showed weakness as Credit Suisse downgraded the steel sector. Mining stocks like Xstrata and Antofagasta also came under pressure, dragged by a steep decline in copper prices. The German DAX 30 and London FTSE 100 added 0.1% each, while the French CAC 40 lost 0.1%.
Elena
03 Jan, 2007
New York City
U.S. stocks rallied in the first session of 2007 on optimism about the economy, following a stronger-than-expected report on December manufacturing from the Institute for Supply Management. The index came in at 51.4%, stronger than the expected reading of 50%. The Dow surged with shares of Wal-Mart and Home Depot leading gainers. Wal-Mart rose 3.5% after December same-store sales rose more than expected. Home Depot advanced 3.4% after the resignation of its chairman.
Elena
03 Jan, 2007
New York City
The market advanced in a volatile session as pharma and IT stocks staged a strong recovery in afternoon trade, after a weak morning trading. IT stocks surged on the back of the expected robust Q3 results. Bajaj Auto was the top gainer, supported by strong sales results in December. Ranbaxy also gained, continuing its upward trend this year. Hindustan Lever, ACC and Tata Steel led the decliners. India hopes to strike a deal to buy 2.5 million tons a year of liquefied natural gas from Australia.
Ivaylo
03 Jan, 2007
New York City
Euopean shares traded near flat levels as stocks opened for trading in new York. European stocks trades mildly higher on 2% rise in French auto maker Peugeot. Mining and bank stocks in London trading closed lower on profit taking and drop in copper and oil prices. Anglo American, BHP and Rio Tinto declined. CSR fell 2.3% on the accuse of patent violation. Britvic, second largest soft drink maker and retailer DSG International rose.
Ivaylo
03 Jan, 2007
New York City
Miners were very weak in trade today with Xstrata and Vedanta Resources down but were countered by strong financials after positive broker comment from UBS which stated that it saw further upside for the sector. Tobacco stocks rebounded after being hit on Tuesday by news that the government may reconsider legal smoking age. The FTSE 100 was trading 5 points, 0.1%, higher at 6,315.9 by mid-day.
123jump.com Staff
03 Jan, 2007
New York City
Major indexes opened higher on the first day in trading led by a rise in retail, tech and Internet stocks. Las Vegas Sands, Research in Motion and Google are up by 1.3%. Wal-Mart reported that December same store sales rose 1.6%. Home Depot said that Bob Nardelli and the company has mutually agreed to terminate his position as CEO for a severance pay of $210 million. Asian markets close higher, led by a rise in India. Thailand plunges.
Ivaylo
03 Jan, 2007
New York City
Shares indexes in Hong Kong and Singapore closed at record highs on Wednesday as investors added to positions in the hope that bull market in 2006 will run into 2007. However, Thailand benchmark index plunged as trading resumed for the first time since Bangkok was rocked by a series of bombs on New Year''s Eve. Japanese stock exchanges remained closed for national holidays. In South Korea, IT and construction stocks led the decline.
Ivaylo
03 Jan, 2007
New York City
European stock markets rebounded from early weakness on Wednesday, although the advance was marginal as profits were taken following the strong rally of the previous session. Xetra Dax index in Frankfurt bounced back from early losses to edge higher after German unemployment rate reached its biggest decline since reunification. By mid morning, FTSE 100 in London edged 0.1% lower, Frankfurt Xetra Dax advanced 0.1% higher, while the CAC 40 in Paris moved fractionally higher.
Ivaylo
03 Jan, 2007
New York City
Gold futures kept their winning streak in electronic trading Tuesday, with a weaker U.S. dollar aiding the precious metal to start the New Year on firm footing. Trading was done on the Chicago Mercantile Exchange as the New York Mercantile Exchange was closed to observe a day of mourning for former president Gerald Ford. Volume on the CME Globex electronic trading platform rose 31% in 2006, with total volume of 956 million contracts.
Elena
02 Jan, 2007
New York City
European shares closed the first trading session of 2007 sharply higher, hitting six-year highs on hopes for more mergers and rising valuations. The utility sector was in the spotlight, with the world''s second largest water utility Suez rising 1.7%. The German DAX 30 rose 1.3%. The French CAC 40 climbed 1.4%, with Mittal Steel, Lafarge, and Alcatel-Lucent in the lead. London FTSE 100 soared 1.5%, led by metals and banking stocks.
Elena
02 Jan, 2007
New York City
The benchmark index surged more than 150 points on the first trading day of the year 2007 in a broad-based rally. All sector indices closed up, with auto, IT and telecom stocks leading the broad rally. Satyam was the best performing stock on the BSE with Maruti, Bajaj Auto and Tata Motors also gaining. Nagarjuna Construction advanced after the company had secured new orders. Tata Steel and Dr Reddy led the decliners. ICICI Bank announced it has raised interest rates on deposits.
Ivaylo
02 Jan, 2007
New York City
The FTSE 100 reached its highest level in five year and a half as investors returned for the first session of the New Year on Tuesday, expecting further merger and acquisition activity in the wake of the record levels in last year. British Airways staged a strong performance, aided by takeover talk. Gains in the index were also boosted by the strong finish in Asia and strong performance in utilities and mining stocks. The main index, the FSTE 100, climbed 65 points, 1.1%.
Ivaylo
02 Jan, 2001
New York City
In Hong Kong, mobile operator China Mobile led the benchmark index to a record high on the first trading day of the year. Chinese banks and insurance stocks kept climbing on a rally in the local market. South Korean stocks advanced slightly on gains from technology stocks which were however almost canceled out by losses in bank shares. In Australia, the stock market ended nearly flat after late profit taking.
Ivaylo
02 Jan, 2007
New York City
European stocks advanced to a six-year high in the first day of trading this year on utility stocks, lifted by bid talk about a takeover offer on Suez. Spanish building and construction companies benefited through their stakebuilding last year in the energy and utility sectors. By mid morning, FTSE 100 in London climbed 1%, Frankfurt Xetra Dax gained 1% and the CAC 40 in Paris added 1.3%.
