Elena
11 Dec, 2006
New York City
Stock markets were lackluster Monday, as several takeover deals generated positive mood, but cautiousness ahead of interest-rate decision Tuesday and weaker oil limited the gains. The biggest drag on the Nasdaq was drugmaker Nuvelo which tumbled nearly 82% after the company and German drugmaker Bayer said a Phase 3 clinical trial of a blood clot dissolver failed to meet its main goal.
Elena
11 Dec, 2006
New York City
In a surprising move in after-hours trade Friday, RBI raised by 0.5% in cash reserve ratio in order to get a tighter grip on uncontrolled credit growth, leading to inflationary pressures. The hike had a negative impact on the benchmark index and on the banking sector. Furthermore, foreign funds continued today for a second session in a row to be net sellers, contributing to the fall in Sensex. ICICI Bank and State Bank of India led the decliners, Satyam and SpiceJet were among the main gainers.
Elena
11 Dec, 2006
New York City
U.S. stock markets opened little changed Monday, with investors cautious ahead of Tuesday
Ivaylo
11 Dec, 2001
New York City
Profit taking and a weak oil sector erased gains at Corus and bid excitement elsewhere, leaving London little changed despite signs that Wall Street will start wih an early lead. Oil large-caps dragged the leading index from early highs as crude prices slipped. The energy sector was in the doldrums. BP, Cairn Energy, Royal Dutch Shell and BG are all in the red, while the tobacco sector was also lower on profit taking. In afternoon trade, the FTSE 100 was little changed, at 6,153.
Elena
11 Dec, 2006
New York City
U.S. stock market futures rose, boosted by a series of merger deals and deal speculation. Citigroup reportedly launched a bid for Prudential plc''s Egg Internet banking arm, but Prudential said it''s not interested in selling the division. Smith & Nephew is expected to bid $12 billion for U.S. rival Biomet by the Tuesday auction deadline. Biomet shares rose 4.8% Travel-booking company Sabre Holdings rose 11% in pre-market trading on deal speculation.
Elena
11 Dec, 2006
New York City
The bid topped an offer that Corus had very recently agreed with Indian rival Tata Group. The offer came only hours after Corus had agreed on new terms with India''s Tata Steel on a 500-pence-a-share bid, which was 10% above Tata''s initial offer.
Ivaylo
11 Dec, 2006
New York City
Stronger exporter stocks powered a rally in Asian stocks on Monday as Japanese markets gained on a falling yen that gave a boost to export-oriented companies such as Toyota and Nissan. It was an across-the-region rally, as only Taiwan markets bucked the trend and declined among the major markets. In Hong Kong, large-caps Hutchison Whampoa and China Mobile led the gainers while South Korean stock markets ended flat despite the upbeat banking sector.
Ivaylo
11 Dec, 2006
New York City
European stocks were higher on Monday as gains, powered by takeover speculation, countered dropping oil producers as crude prices sank. On Monday, Continental was among the top advancers after General Capital Group, which tried to buy the German tyremaker earlier in the year, announced it would not rule out another takeover attempt. By mid morning, London FTSE 100 climbed 0.4%, Frankfurt Xetra Dax gained 0.5%, and the CAC 40 was 0.7% higher.
Ivaylo
11 Dec, 2006
New York City
Gold and silver futures fell on Friday, tracking the ups and downs of the movements of the dollar. The recovery of the dollar on Friday was due to a Labor Department favorable report on payrolls. The strength in the US economy raises the hopes tha The Federal Reserve will at least keep the interest rates stable, which in turn will keep the dollar solid, lowering the prices of the precious metal, typically viewed as a hedge against a weaker US currency.
123jump.com Staff
08 Dec, 2006
New York City
November jobless rate rose to 4.5% from 4.4% in October. Total of 132,000 of new jobs were added in the month on top of 79,000 in October. Average weekly earnings rose to $574.27 in November from $573.25 in October. Children shoemaker Heelys priced 6.43 million shares at $21 per share. The shares jumped 61% to close at $33 after rising as high as $38.75. More than 11 million shares changed hands. Citigroup rose on rumors and Bank of America and Barclays gained on merger speculation.
Elena
08 Dec, 2006
New York City
European stocks closed modestly higher Friday, as gains in the banking sector managed to offset weakness among mining stocks. Barclays climbed 3.3% in London on speculations Bank of America is interested in making a bid for $117.6 billion, offering a premium of 25% to 30%. The U.K. FTSE 100 rose 0.3%, followed by the German DAX 30, up 0.2%, and the French CAC 40, up 0.1%.
Elena
08 Dec, 2006
New York City
Small-cap firms Heelys and Allegiant Travel rallied 60% and 40%, respectively, in their stock market debuts Friday. Heelys, a maker of children''''s sneakers, jumped over its price range of $16 to $18 to set its IPO at $21 a share. The stock opened at $30.30 and rose to $34.70 for a gain of about 65%. Allegaint priced its IPO at $18, above its $15-$17 range. The IPO opened at $24 a share and rose to $25.23 for a gain of 41%.
Elena
08 Dec, 2006
New York City
Sensex opened strong, above the 14,000 level, but quickly yielded to selling pressure in large-cap stocks. Traders consolidated positions before Cairn India IPO, due to be launched on December 11, the largest initial public offering in India. Dr Reddy and Reliance Energy were the leading gainers on the market, while Tata Motors and ACC led the decliners. Inflation was lower than expected the previous week.
Elena
08 Dec, 2006
New York City
Stocks opened modestly higher Friday amid easing concerns about the health of the U.S. economy. The long awaited employment report brought some relief to the market as the Labor Department said 132,000 jobs were created in November, greater than the expected increase of 105,000. Unemployment ticked up to 4.5%. However, sharply higher oil prices and weaker dollar limited gains.
Ivaylo
08 Dec, 2006
New York City
The top performing shares on London market erased early losses by the afternoon helped by some bid speculation over Pearson believed to be the next in line. Other takeover speculation also helped to cancel out losses with chemical firm ICI, up on reports of a possible connection with Akzo Nobel of Holland. The mining industry dragged the benchmark index lower after Merrill Lynch downgraded the sector to neutral. The FTSE 100 was marginally lower 0.07% at 6,128 in afternoon trading.
