ticker

Sensex Up 0.6%, India GDP, 9.2%

Elena
30 Nov, 2006
New York City

The expiry of the November futures contracts failed to weigh down on the market sentiment. The benchmark index ended with a spurt in the final hour of a volatile trade, buoyed by better-than-expected domestic economic growth. Private banks and IT stocks led the advancers. HDFC Bank, Dr Reddy

Consumer Spending Rebounds

Elena
30 Nov, 2006
New York City

Stocks were flat at opening after retailers posted mixed sales results for November and consumer spending rebounded, showing its biggest increase in three months in October. Blue-chip stocks edged higher, helped by same-store sales from retailers including solid numbers from Target Corp. and disappointing data from J.C. Penney Co. Wal-Mart weighed as it projected flat sales in December after reporting o.1% decline in November same-store sales.

FTSE Rebounds

Ivaylo
30 Nov, 2006
New York City

Wolverhampton & Dudley picked up today as the market digested yet more rumours of bid activity among the mid-caps. Defence and security group QinetiQ was the best performing mid-cap stocks today after its first half results came in better than expected. Energy stocks were also in demand as crude futures rose to a two-month high. Kingfisher, unsettled by the costs of its store refurbishment programme, led the decliners. The FTSE 100 in London was up 16.2 points, or 0.3%.

Target, Limited Push Futures Higher

Elena
30 Nov, 2006
New York City

U.S. stock futures gained, supported by better-than-expected November sales for Target and Limited Brands. The Commerce Department reported that consumer spending rebounded in October after two lackluster months, increasing by 0.2%. Spending was bolstered by solid growth in incomes, which rose by 0.4%, reflecting solid employment growth. According to another economic report, the number of initial jobless claims posted an unexpectedly large increase last week, rising by 34,000 to 357,000.

November Same-Store Sales Disappoint

Elena
30 Nov, 2006
New York City

Wal-Mart Stores, Costco Wholesale Club and J.C. Penney posted weaker-than-expected numbers. Wal-Mart said its November same-store sales fell 0.1%, slightly below the flat numbers that analysts had been expecting. The world''s biggest retailer projected flat to 1% higher comparable store sales in December. Costco Wholesale reported same-store sales rise of 5%, slightly down from the anticipated 5.7% increase. Limited Brands reported same-store sales jump of 12%, exceeding estimates of 7.8%.

Asia Led Higher by China, HK

Ivaylo
30 Nov, 2006
New York City

Asian stocks finished higher Thursday, following gains on US markets, as benchmark index in China hit a five-year high and as Hong Kong shares were buoyed by new initial public offerings. In Japan, stocks gained ground amid optimism about the economic prospects of the nation, with banks and car makers leading the way. In South Korea, technology and brokerage stocks led gains and in China, gains in steel firms helped push the benchmark stock index.

European Stocks Rise

Ivaylo
30 Nov, 2006
New York City

European stocks rose for a second day, led by BP and Royal Dutch Shell and pushed higher by commodity producers, after metal prices gained. BHP Billiton and Rio Tinto Plc advanced. Benchmarks swung between gains and losses before reports today on U.S. jobless claims and personal spending. The U.K. FTSE 100 index advanced 0.3%, the German DAX Xetra 30 index climbed 0.2%, and the French CAC-40 index rose 0.1%.

Gold Finished Lower on Profit -Taking

Ivaylo
30 Nov, 2006
New York City

The dollar probed higher as gold was about to close Wednesday. Just before the close of gold, the euro hit a low for the day after reaching a high earlier. Thus, gold went from being 50 cents lower to roughly $2 lower just ahead of the final bell. The very late move in the dollar prompted a little bit of selling. Silver was the the most impacted on the market because silver had put in a pretty good session all day.

Auto and Steel Makers Decline in Europe

123jump.com Staff
04 Jan, 2008
New York City

Switzerland led the decliners in the European region with a sharp loss of 2.3%. European markets closed lower after the weakness in the U.S. on the weaker than expected December month jobs report. Leading indicators in the UK declined 2.02%, in France lost 1.8%, and in Frankfurt dropped 1.3%. Auto and steel makers in Europe declined on the weak U.S. auto sales in December. Daimler lost 6% and Renault dropped 8%. ArcelorMittal edged 4% lower.