123jump.com Staff
15 Dec, 2006
New York City
Benign November inflation data on Consumer Price index and core CPI sparked a wave of buying in the morning. The reported CPI and core CPI nearly unchanged supported a broad buying in financials, industrial and consumer durable sector. Gold fell $12 on inflation report but oil managed to rise. European markets closed higher on feversih takeover activities. Brazil continued to gain but Mexico settled after closing for eight records in nine days.
123jump.com Staff
15 Dec, 2006
New York City
European shares closed higher for the day and for the week on takeover rumors, restructuring news and higher energy and metals prices. Takeove rumors lifted stocks of ABN AMRO and Rentokil. France Telecom reiterated its plan to cut 17,000 staff in France by the year 2008. Austrian Bank BAWAG was sold to private equity group and media report suggested that Ahold food services may be sold for $6 billion. Tenaris gained 13% on takeover rumors. Nestle gained on the deal to buy Novartis nutrition.
Elena
15 Dec, 2006
New York City
Tame inflation in November and industrial production rise for the first time in two months boosted market averages, with the Dow hitting a record high after consumer price data signalled that the U.S. economy is maintaining growth and inflation is in check. Positive sentiment was also generated by a batch of strong earnings reports in the tech sector.
Elena
15 Dec, 2006
New York City
The Sensex closed Friday with a gain for the third day in a row. Heavy interest in Reliance Communicatons and metal stocks supported the upward trend in the market. Banks rallied after weekly inflation data. Tata Steel led the advancers followed by Grasim, SBI and Infosys. NTPC and Wipro led the decliners. Tata Motors and Fiat will invest over Rs 4,000 crore in a joint venture.
Elena
15 Dec, 2006
New York City
U.S. stocks extended rally on tame inflation in November and industrial production increase. The report showed that industrial production rose 0.2% in November, the first increase in two months, amid increased output by automobile makers. Among tech stocks, Adobe Systems rose 5% after it posted Q4 earnings in line with estimates, while revenue was above expectations.
Ivaylo
15 Dec, 2006
New York City
London market hit a new five year high on Friday afternoon, as upbeat crude prices lifted oil stocks and shares in BAE Systems advanced supported by reports of the failure of an inquiry into allegations of corruption within key Saudi arms contracts. Tobacco stocks were in the limelight in the wake of the agreement by Gallaher to be acquired by Japanese Tobacco in a long-awaited deal. In mid-afternoon, the FTSE 100 benchmark index traded 0.5% higher to 6,261.6.
Elena
15 Dec, 2006
New York City
Stock futures advanced Friday, lifted by tame report on consumer inflation which helped ease concerns of further interest-rate spikes. The Labor Department reported that consumer prices were flat in November, even better than the increase of 0.2% analysts had been expecting. Prices fell in the three consecutive months because of sharply lower gasoline and other energy costs.
Elena
15 Dec, 2006
New York City
The purchase would also boost Japan Tobacco''s share of the European tobacco market to 23% from 10%. JT''s global market share would increase by 3.1% to about 11%. If the transaction completes, this will be the largest-ever corporate acquisition by a Japanese company. The takeover bid exceeds Softbank Corp.''s buyout of Vodafone Group PLC''s Japanese mobile-phone operations for $15.6 billion.
Ivaylo
15 Dec, 2006
New York City
The all-important tankan survey in the past three months in Japan buoyed investors in Japan which led Friday Asian stocks higher. The survey of business sentiment showed that both large and small business were upbeat about business conditions. Hong Kong shares were boosted after the strong close in New York overnight, while In South Korea, stocks ended slightly higher led by Posco and Kookmin Bank. All the other major indexes also advanced on Friday.
Ivaylo
15 Dec, 2006
New York City
The market reaction to Eurozone inflation data was not worthy of notice as the upward revision of headline CPI was 1.9%, slightly lower than the targeted 2% of ECB. German companies have been upping prices in advance of the rise in VAT in January. Investors expected takeovers and earnings growth to continue to buoy markets. The FTSE 100 opened 0.3% higher, while the German Xetra Dax added 0.4% and the French CAC 40 rose 0.5%.
Ivaylo
15 Dec, 2006
New York City
The earlier strength in gold futures overlapped with a 1.9% reduction in production agreed upon by OPEC. Gold prices were aided by worries about increasing energy prices Thursday. Oil rallied to a two-week closing high after the OPEC announced it would reduce production by 500,000 barrels per day, starting on Feb. 1, 2007 aiming at balancing supply and demand. The same strategy is not applicable to the gold, as it immediate price prospects continue to depend on the dollar.
123jump.com Staff
14 Dec, 2001
New York City
Market averages closed higher on better than expected earnings from companies, improved forecast from Advanced Micro. Tech sector heavy Nasdaq rose 1% on sharp gains in semi conductor stocks. AMD gained 13% on improved sales forecast. Lehman Bros and Bear Stearns reported better than expected earnings matching similar gains at Goldman Sachs. Bear Stearns rose 2.6% but Lehman fell on the report. Costco reported 51 cents in earings and Ciena reported its first quarterly profit in five years.
Elena
14 Dec, 2006
New York City
European stocks closed in the positive territory Thursday, lifted by strength in the mining sector and gains in the financial sectior. HBOS shares rose 1.6% in London after the group said it expects underlying 2006 profit to beat market expectations. Miners such as Xstrata, Rio Tinto, BHP Billiton sharply rose on higher metals prices. The U.K. FTSE 100 index closed up 0.6%. Germany''s DAX 30 rose 0.5%. The French CAC-40 also climbed 0.6%.
Elena
14 Dec, 2006
New York City
U.S. stocks rallied in late morning trading, boosted by better-than-expected earnings results. The Nasdaq jumped more than 1%, driven higher by Costco, Ciena, and Adobe. Costco Wholesale helped the Nasdaq up with a gain of 2.8% after it posted earnings above forecasts. Ciena jumped 8% as it swung to a Q4 profit on sharply higher revenue, beating estimates. Adobe Systems gained 1.9%.
Elena
14 Dec, 2006
New York City
After the recovery on Wednesday, the Sensex surged even stronger today on heavy buying in from small to large cap stocks. Bank stocks managed to rebound led by ICICI Bank. Reliance Industries, Satyam, NTPC, Cipla were the other big gainers. Of the Sensex stocks only Hero Honda and Tata Steel declined.
