Ivaylo
07 Dec, 2006
New York City
European tobacco stocks were given a boost by bid activity on Thursday which helped stock markets edge higher as investors awaited interest rate decisions from both the European Central Bank and the Bank of England. Gallaher Group, boosted the sector after receiving a bid approach from Japan Tobacco. In early trade, the FTSE 100 London climbed 0.4%, Frankfurt Xetra Dax added 0.2%, and the CAC 40 in Paris was fractionally higher.
Ivaylo
07 Dec, 2006
New York City
More profit-taking sent gold and silver prices further down on Wednesday, in a situation that can be described as a correction rather than a reversal of the uptrend that had been in place. More profit-taking was witnessed in gold. It was inspired by a bounce in the dollar, which had given the market another excuse to take profits from what had been a long-running rally.
123jump.com Staff
06 Dec, 2006
New York City
Market averages traded lower in New York, Europe and Asia. Merck traded lower on 2007 revenue outlook. Ford dropped 4% on 50% boost in convertible bond offering. Yahoo lost 2% on management reorganization. Railroad stocks lost ground on downgrade by Merril Lynch. CSX, Union Pacific and Burlington Santa fe declined. Home builders rose on 10-month low mortgage. Lennar, Toll Bros, Beazer Homes and D R Horton rose more than 1%. Boeing wins $5 billion order from Lufthansa. Panera Bread lost 3%.
123jump.com Staff
06 Dec, 2006
New York City
Tech and pharma stocks drag European markets lower at close. Russian main index led the gainers in the region with a rise on 0.9%. Germany, France, Spain and Norway declined. European Central Bank is expected to raise rates by 0.25% tomorrow but Bank of England is keep rates unchanged. Capgemini lost 4% on stock issuance to fund recent acquisition. Lufthansa is likely to buy Boeing 747 upgraded jets. Tesco agrees to buy eight Makro stores in Malaysia. Porsche reported sales growth.
123jump.com Staff
06 Dec, 2006
New York City
Market average remain under pressure after rising for the last three days. S&P500 after reaching a six-year high is trading lower. Yahoo, Merck and Ford are leading the decliners. Ford is reported to boost its convertible bond offering by 50%. Merck revenue guidance disappointed market. Novellus and Oracle dropped and broker comments. Weekly inventories of crude oil, gasoline and distillate declined. ADP survey showed that private sector in Novemeber added 158,000 to the payroll.
Ivaylo
06 Dec, 2006
New York City
The benchmark index managed to egde higher amid high volatility and very weak market-breadth. Most sectors traded in negative territory with banking and IT stocks barely registering gains. Reliance Energy led the decliners, ACC and HDFC also plunged. Ranbaxy led the advancers, ICICI Bank rose, capitalising on a rise in cross-border deals. Bharti Airtel gained on a likely Vodafone stake upgrade. India has no plans to scrap import duties on cement or ban exports.
Ivaylo
06 Dec, 2006
New York City
Gains for the banking sector in the wake of an upbeat trading statement from Royal Bank of Scotland saw the FTSE 100 move higher on Wednesday. The UK lender said results are running slightly ahead of expectations as it reassured that bad debts have actually improved over the last year. ABN Amro gave Persimmon a boost in a bullish review of the housebuilding sector by the Dutch broker. Helped by those gains the FTSE 100 added 17.6 points, or 0.3%.
Ivaylo
06 Dec, 2006
New York City
Asian markets closed mostly higher Wednesday, with Japan breaking a two-day losing streak and Australia gaining on merger-and-acquisition news, while Taiwan hit a fresh six-year high. In Hong Kong, the Hang Seng Index rose on hopes that third-generation mobile licenses in China will be issued soon. In Taiwan, shares reached a fresh six-year high as both land owners and electronics put in strong performances. Shares in South Korea bucked the trend and declined.
Ivaylo
06 Dec, 2006
New York City
European stocks gained on Wednesday, with banks leading the gainers after investors welcomed forecast-beating results from Anglo Irish Bank and an upbeat trading statement from Royal Bank of Scotland. Declines were coming, though, from more defensive sectors, including utilities and health care companies. By mid morning, the FTSE 100 in London climbed 0.2%, Frankfurt Xetra Dax was fractionally higher, and the CAC 40 in Paris gained 0.1%.
Ivaylo
06 Dec, 2006
New York City
Gold and silver prices edged lower Tuesday, as a slightly stronger dollar and slipping oil prices encouraged metals traders to pause and take profits. Data-related dollar gains and modest profit-taking in the energy sector have triggered a bout of liquidation across the precious complex today, although dips in all metals have found good support. The approaching end of the quarter and year is another influence.
123jump.com Staff
05 Dec, 2006
New York City
A business survey from ISI suggested that service sector in the economy is expanding at a faster rate than manufacturing sector. According to Labor Department, unit labor cost growth in the third quarter was revised to 2.3% from 3.8%. Kroger rose on better than expected profit of 30 cents per share, up 16%. Autozone rose 4.5% on earnings of $1.73 per share. NYSE Group rose on the news that its merger with Euronext won conditional approval. Ford dropped 2.5% on $3b convertible offering.
Elena
05 Dec, 2006
New York City
European stocks posted solid gains on Tuesday, boosted by commodities-related stocks, positive mood on Wall Street, and stabilized dollar. Markets managed to ignore some poorly received updates from banking giant HSBC and electronics giant Philips. The German DAX 30 climbed 1.2%, supported by 3.7% gain for ThyssenKrupp. The French CAC 40 followed suit to close up 1.2%, led by drug maker Sanofi-Aventis. London FTSE 100 rose 0.6%, benefiting from strength in the mining and oil sectors.
Elena
05 Dec, 2006
New York City
U.S. market averages posted gains Tuesday, as revised data showed wages and benefits increased at a much slower pace in Q3 than expected and the service sector came accelerated in November. The ISM''s index of activity in the nation''s services sector rose at a faster rate of 58.9, above the 57.1 seen in October. However, a Commerce Department report showed that orders to U.S. factories fell 4.7% in October, the steepest decline in six years.
Elena
05 Dec, 2006
New York City
The Sensex opened above 14,000 level, up more than 150 points from its previous close. Profit-taking weighed shares lower in subsequent trades, but the benchmark index managed to extend its rally for the fifth straight day. Steady buying in Tata Steel, Reliance, Reliance Communications and Infosys as well as from foreign funds saw the index display positive trend through the day. Government may consider fiscal measures, if required, to ease pressure on the prices of non-food articles.
Elena
05 Dec, 2006
New York City
U.S. stocks opened little changed on Tuesday as traders digested a report from the Labor Department that showed modest Q3 productivity growth but significant downward revisions Q3 and Q2 unit labor costs. In deal news, Japan''s tire company Bridgestone Corp. said its North America subsidiary will buy Bandag Inc., a maker of tire tread rubber, for about $1.05 billion in cash. Shares of Bandag rose 12% to $50.40 in morning trading.
