Ivaylo
27 Mar, 2007
New York City
London has retreated after a bright start, with talk of a bid for retailer Next and the miners rising again just managing to keep the index above water. The Next gossip suggests a bid worth
Ivaylo
27 Mar, 2007
New York City
Export-related shares weighed on Asian stock markets sending them lower Tuesday, after after weak U.S. new-home sales raised concerns that economic growth could be slowing in the region most important export market. Tokyo issues were also pressured in the first day in which many shares traded without year-end dividend entitlements. The Hang Seng benchmark index in HK also ended lower. Only a few markets in the region gained, including South Korea and China and Singapore.
Ivaylo
27 Mar, 2007
New York City
European bourses were driven higher by the auto sector on Tuesday as German carmaker Porsche increased its stake in domestic rival Volkswagen, while rising speculation over a sale of Chrysler boosted its German parent. By mid morning, Frankfurt Xetra Dax added 0.8%, the CAC 40 in Paris gained 0.6% and London FTSE 100 climbed 0.6%.
Ivaylo
27 Mar, 2007
New York City
Copper futures hit their highest level of the year on Monday, boosted by high demand from China and short-covering. The May contract fetched a higher price than July, a condition generally seen as a sign of tight supplies. Gold and silver also advanced. In Nymex energy trading, crude oil futures climbed to a three-month high. Arabica coffee futures reached three-week highs, while futures on raw sugar declined.
123jump.com Staff
26 Mar, 2007
New York City
Stocks recovered from early decline in NY trading on weak home-sales data and rising oil prices. Crude-oil futures closed up 63 cents. The medical and biotechnology sectors saw volatile trading on long-awaited coronary stent industry report. Boston Scientific declined 7.4%. CV Therapeutics tumbled 21%. Agere Systems fell 2.9% and LSI fell 2.3%. Citigroup declined on lay-off news. European and Latin markets closed lower.
123jump.com Staff
26 Mar, 2007
New York City
Stocks fell after a surprise drop in new home sales for February triggered further concern that economic growth is slowing more than expected. The rise in oil prices diminished hopes that the Federal Reserve would cut interest rates soon. KB Home shares dropped 2.3%, Toll Brothers dropped 2.1%.
Elena
26 Mar, 2007
New York City
European stocks finished lower on Monday, weighed down by unexpected drop in U.S. new-home sales, which added to recent economic growth concerns. Weakness in the automotive sector also generated negative mood, as Porsche made a below-market value move on Volkswagen. Volkswagen fell 3.2% after luxury-car maker Porsche raised its stake to more than 30%. The German DAX 30 dropped 1%, the French CAC-40 slipped 1%, and the U.K.''s FTSE 100 lost 0.8%.
Elena
26 Mar, 2007
New York City
U.S. stocks tumbled, following the release of much weaker-than-anticipated housing data. Sales of new homes in February fell 3.9%, the lowest level seen in nearly seven years, and triggered further concern that economic growth is slowing more than expected. The Dow Jones industrials showed losses of more than 100 points. The blue-chip average was led down by cyclical shares such as Alcoa, losing 1.3%, Boeing Co., lower by 1%, General Motors, down 0.8% and others.
Elena
26 Mar, 2007
New York City
U.S. stock markets opened mixed on Monday ahead of a report on new home sales. Analysts expect a rise to 995,000 from 937,000 in January. On Friday, the National Association announced better-than-expected jump in sales of existing homes. Market sentiment was supported by computer maker Dell which rose 2.8% on an upgrade at Goldman Sachs. Intel was trading flat after Goldman Sachs cut its profit estimates. Citigroup was in the focus on reports that the company will cut 15,000 jobs.
Ivaylo
26 Mar, 2007
New York City
Asian markets closed mostly higher Monday, with Japanese Nikkei average advancing modestly as investors took to buying large-cap shares. Trading was quiet ahead of the release of U.S. economic data due out this week. All other major benchmark indices finished in positive territory. China stocks notched a new record on foreign quota outlook.
Elena
26 Mar, 2007
New York City
U.S. stock futures predicted a slightly higher opening Monday, lifted by gains for tech giants United Technologies and Dell. Shares of the computer maker rose 3% before the opening bell after brokerage Goldman Sachs lifted its rating on the stock, while Dow component United technologies added 0.5% after Credit Suisse upgraded the company to outperform from neutral on hopes for its quality control program. In corporate news, Intel said it will invest $2.5 B to build a plant in China.
Ivaylo
26 Mar, 2007
New York City
The benchmark index opened with a positive bias but quickly plunged into negative territory dragged by selling in large caps. Investors exited long positions ahead of the March 2007 derivative contracts expiry. Banks, auto stocks and IT shares lost. Tata Motors and HDFC Bank led the decliners, while Satyam was among the few advancing large-caps. The government proposed creating sugar buffer.
Ivaylo
26 Mar, 2007
New York City
European markets slid by mid-morning on Monday, erasing some of the gains from last week. Heightened geopolitical tensions between Tehran and the west over the nuclear programme of Iran weighed on sentiment. Crude oil prices surged to a new high for the year as Iran refused to release fifteen captured British servicemen. German Xetra Dax lost 15.2 points, or 0.2%, the French CAC 40 eased 0.2%, and the U.K. FTSE 100 index declined 0.1%.
Ivaylo
26 Mar, 2007
New York City
U.S. cocoa futures rose to new contract highs by the close Friday, aided by speculative buying, while Arabica coffee futures climbed to three-week highs. Traders reacted well to the decision Brazil took to offer growers options to help them hold back beans after the harvest starts. Profit-taking lowered gold and silver futures after the recent upside momentum died down. Energy futures ended mixed.
123jump.com Staff
23 Mar, 2007
New York City
Existing home sales rose 3.9% in February comapared to sales in January but declined 3.6% from a year ago. Median home prices fell for the seventh months in a row. Jabil circuit fell close to 6% on the earnings warning that the company will miss the estimates for the next two quarters. Energy companies rose after oil jumped above $62 a barrel on an incident involving Iran and British sailors. British sailors were caught in Iranian waters inspecting an Iranian vessel.
