Ivaylo
28 Dec, 2006
New York City
Vodafone dipped on reports that it may have to compete for bid target Hutchison-Essar, the Indian mobile phone operator. HSBC Holdings followed an advance in financial companies and in metal stocks, BHP Billiton and Anglo American Plc, increased as prices rose. Imperial Chemicals Industries Plc, the U.K.''s largest specialty chemical maker, also climbed on takeover speculation. The benchmark FTSE 100 Index lost 9.7, or 0.2%, to 6,235.50 in early trade.
Elena
28 Dec, 2006
New York City
Following two days of solid post-Christmas gains, U.S. stock market looked poised for lower opening Thursday. Stock futures pointed to the downside, with profit taking expected as well as volatile trading session for Apple Computer on concerns over its stock-option granting practices.
Elena
28 Dec, 2006
New York City
A new company, called BWI Informationstechnik GmbH, is being set up for the project. IBM and Siemens together will hold 50.1% of it, while the German federal government will hold the remaining 49.9%. The project is designed to bring data centers, software and applications, PCs, telephones and voice and data networks up to the latest standard.
Ivaylo
28 Dec, 2006
New York City
Asian shares kept their winning streak Thursday pacing gains on US markets, as Japan moved slightly higher and Hong Kong finished at another record high. In Tokyo, traders took profits after a five-week rally in the leading index and before a holiday-shortened trading session ahead of New Year celebrations. In Australia, New Zealand, Singapore, and Indonesia, indexes closed at records.
Ivaylo
28 Dec, 2006
New York City
Earlier, European markets edged higher with investors capitalizing on the year-end optimism coming out of US markets and also responding to an optimistic comment from a top executive at software giant SAP. However, a poor performance from oil stocks erased the gains, leaving stocks nearly flat. By mid morning, the FTSE 100 in London was flat, Frankfurt Xetra Dax edged slightly higher and the CAC 40 in Paris was down 0.1%.
Ivaylo
28 Dec, 2006
New York City
Rumors of the possibility of U.S. interest rate reductions next year led to selling of the dollar and to a profit in the gold market. Gold is believed to remain within the wide $618-$630 range in the short term as volatility is likely to continue due to the thin holiday market conditions. Silver will remain volatile within a wide $12.29-$13 an ounce range for the short-term. While gold and silver advanced, platinum and palladium declined in light trading.
123jump.com Staff
27 Dec, 2006
New York City
New home sales rose at 3.4% in November to an annual rate of 1.05 million rate. Traders tooks the news as a sign that percieved weakness in the housing market may not be as deep as anticipated. Crude oil fell 1.4% close to $60 per barrel and natural gas traded lower below $6 per mBtu. Ford was in focus on the news that newly appointed CEO met Toyota executives in Tokyo. Guess rose 9% and Master Card gained 5%.
Elena
27 Dec, 2006
New York City
European stocks closed sharply higher on Wednesday, boosted by weaker oil prices and speculation over possible consolidation in the automotive sector. Lower oil prices along with confirmation that top Toyota and Ford executives met in recent days lifted auto shares such as DaimlerChrysler and Renault. The German DAX 30 climbed 1.6%, followed by the French CAC 40, also up 1.6%. London FTSE 100 rose 0.9%.
Elena
27 Dec, 2006
New York City
The U.S. market averages have continued to perform well over the course of morning trading, benefiting from strong home sales data and retreating oil prices. The Commerce Department reported that sales of new homes rose 3.4% in November to a seasonally adjusted annual rate of 1.047 million, helped by solid sales increases in every region of the country but the South. Homebuilders Hovnanian Enterprises and Toll Brothers rose 1.7% and 2.3%, respectively.
Elena
27 Dec, 2006
New York City
The benchmark index surged today aided by broad-based buying in stocks across sectors and short-covering before the expiry of the December contracts on December 28, 2006. Bank led the rally with IT and auto stocks surging as well. Satyam, ICICI Bank and Tata Motors led the advancers, while ONGC, which rallied yesterday, led the decline today. Foreign direct investment in India may double in the current fiscal year. The Indian economy shows no signs of overheating, a survey suggests.
Elena
27 Dec, 2006
New York City
Stock markets opened higher for a second day in a row, lifted by bargain hunting on a broad-market scale. The tech-heavy Nasdaq advanced in early trading, supported by gains fot Microsoft, up 0.3%, Intel higher by 1.1%, and Dell, rising 1.3%. However, shares of Apple Computer dropped 5% to $77.48 amid a news report, saying that company officials could have falsified past stock-option documents to maximize profits for executives.
Ivaylo
27 Dec, 2006
New York City
The London market opened positively after the Christmas break, as higher mining and oil stocks aided a solid rally. InterContinental Hotels made further gains as traders continued to rely on the credibility of talks of potential bid interest in the company. Also Diageo is not too far behind as rumors suggest that SABMiller could buy Indian spirits maker Mount Shivalik Group. The FTSE 100 opened 0.8% higher at 6,239.6, an increase of about 50 points.
Elena
27 Dec, 2006
New York City
U.S. stock market futures traded higher on Wednesday, bolstered by speculations for a potential alliance between giant automakers Toyota Motor and Ford Motor. Toyota shares rose more than 2.5% to a record high in Tokyo. Shares of Ford were up 1.5% at $7.60 in early electronic trading. Investors were also awaiting key housing data, expected to provide clues on the health of the U.S. economy.
Ivaylo
27 Dec, 2006
New York City
Although there were problems with communication across the region after an earthquake damaged undersea cables, markets managed to hit new highs. Japanese stocks were supported by intense buying in large-caps prompted by good earnings outlooks. HK rallied to a record high, aided by phone company China Netcom and Hong Kong-listed Chinese financials. Australian index was helped by hopes of a strong month end. South Korea finished lower on banks and telecoms.
Ivaylo
27 Dec, 2006
New York City
As there is almost no activity on the corporate front the focus is laid on US new home sales due later in the afternoon which will provide some clues about the US economy growth. Otherwise, the advance today is simply a reversal from the losses in Friday. Shares were also supported by the rise of the euro against and the dollar and the weaker oil futures. In early trading, the FTSE 100 in London was up 0.8%, Frankfurt DAX gained of 1.2%, and the French CAC 40 rose 0.9%.
