Elena
24 Nov, 2006
New York City
U.S. stock markets opened in the negative, as the holiday shopping season began in earnest and a sharp drop in the dollar added to inflation worries, and diminished the appealing of U.S. shares to foreigners. The euro broke through the $1.30 level for the first time since April 2005. The sharp sell-off of the dollar continued and it fell to as low as 115.61 yen from 116.27 yen late Thursday. The British pound rose to $1.9351 from $1.9156.
Ivaylo
24 Nov, 2006
New York City
A slide in the value of the dollar added to the already incurred losses caused by a burst of profit taking. Companies with exposure to the US were hit hard including fund manager Amvescap, credit checking firm Experian and plumbing supplies group Wolseley. Life insurers Prudential and Old Mutual were also stuck well in the red. In afternoon trading on Friday, the FTSE 100 was 0.86% lower at 6,088.
Elena
24 Nov, 2006
New York City
U.S. stock market futures indicated a sharply lower market opening on Friday for a shortened trading day. The declines tracked weakness in Asian and European stock markets. What hurt pre-market sentiment wad a plunge of the U.S. dollar against other major currencies, with the euro climbing above $1.30 after economic data showed strong business confidence in Germany.
Ivaylo
24 Nov, 2006
New York City
Weakness in Toyota Motor, Sony and other exporters was seen after the recently hit yen held its ground near a two-month high against the dollar. Hang Seng Index in Hong Kong ended fractionally lower, while the China Enterprises Index, a gauge of China-incorporated shares listed in Hong Kong, declined. Tech-sector gains lifted the broader index in Taiwan. South Korean Kospi advanced and Malaysia gained as well. Australia and Singapore bucked the uptrend and declined.
Ivaylo
24 Nov, 2001
New York City
The euro on Friday broke through the $1.30 level for the first time since April 2005, and continued hovering above that barrier. On Wednesday, economic data showed waning U.S. consumer confidence and growing jobless claims, prompting a big dollar sell-off. Banks also fell in Europe on concerns equity market losses could hit future profits. In early exchanges, London FTSE 100 fell 0.5%, Frankfurt Xetra Dax shed 0.9%, in Paris the CAC 40 lost 0.7%.
Ivaylo
24 Nov, 2006
New York City
The weaker dollar helped to push gold prices higher. However, gold traded in a pretty narrow range on Thursday and had been consolidating. No dramatic moves are expected in the last weeks of the year, though. Still, gold may not be able to rise above $636, given the lack of trading from the Thanksgiving holiday in the U.S. Platinum gained after tumbling this week from record highs.
123jump.com Staff
23 Nov, 2006
New York City
Markets around the world inched higher except in Europe. Canadian, Asian and Latin American markets closed higher on optimistic look on oil and gas price and expected rise in merger activities in the U.S. European markets closed lower for the second day after gaining for a week. Rise in German business confidence to a fifteen year high supported a rise in euro against dollar. In the U.S. next week market awaits GDP growth, construction spending and new and existing home sales.
Elena
23 Nov, 2006
New York City
European stock markets finished mostly in the red on Thursday as weakness in oil and gas companies along with sharp losses for transport stocks dragged down indexes. The French CAC 40 dropped 0.5%, with Air France-KLM posting a loss of 6.5%. Oil-heavy London FTSE 100 closed down 0.3%, with oil majors BP and Royal Dutch Shell losing 0.7%. The German DAX 30 finished flat at 6,476.12, reversing from an earlier rise on the back of upbeat economic data.
Elena
23 Nov, 2006
New York City
Weakness in ICICI Bank in the opening trades saw the Sensex open with a negative gap. Later, Reliance Industries sank and caused the barometer index to slip in the latter part of a highly volatile and range-bound trading. Hero Honda and HDFC Bank surged at the end of the day, while Satyam and Bharti Airtel led the decliners. SBI may revise its grwoth target upwards from the current rate of 30% growth in loans for the current fiscal year.
Ivaylo
23 Nov, 2006
New York City
London leading shares deepened their losses following negative broker comment. Water company Kelda topped the blue chip fallers after Citigroup lowered the shares, while British Land was also down as HSBC cut the property group rating. Tobacco stocks rallied after a European Court of Justice ruling dashed the prospect of cheap tobacco and alcohol being sold over the internet. The FTSE 100 was 13.5 points, or 0.2%, lower at 6,145.8 by mid-morning on Thursday.
Ivaylo
23 Nov, 2006
New York City
Japanese markets were closed Thursday for a public holiday. So it was Australia today that made news. Foster''''s and Metcash are likely to be next in line for takeover bids, although Qantas Airways declined a day after surging to a record after the airline announced it was in talks with a private equity group. Hang Seng Index in Hong Kong rose extending gains, while Singapore Straits Times Index advanced 0.4%, furthering gains after setting another record in the previous session.
Ivaylo
23 Nov, 2006
New York City
With the closure of US and Tokyo markets for public holidays, European stocks declined for a second day. Earnings at Air France-KLM Group, the biggest airline in the region, and KBC Group NV, the second largest financial-services company in Belgium, also disappointed investors. By mid morning, the FTSE 100 in London lost 0.3%, Frankfurt
Ivaylo
23 Nov, 2006
New York City
On the NYME, platinum has been the big mover in the precious metals lately. Traders have linked the movement to options-related activity and unsubstantiated rumors about a platinum exchange-trade fund. On Wednesday, platinum closed lower, just one day after the January futures nearly hit an all-time high. December gold initially rose but backed off to settle slightly higher. Silver and copper futures settled down, as well as palladium.
123jump.com Staff
22 Nov, 2006
New York City
General Motors stock dropped 4.7% on the news that Kirkorian controlled investment vehicle has cut its GM holding by 25%. The billionaire investor has sold 14 million shares and cut its holding down to 42 million shares, representing only 7.4% stake in GM. The U.S. dollar dropped on the job report showing more people filing for unemployment report. Initial jobless claims increased by 12,000 to 321,000.
Elena
22 Nov, 2006
New York City
European stock markets finished mixed as disappointing U.S. economic data offset gains in the airline sector. Airlines showed strength on bid speculation. Deutsche Lufthansa rose 1.9%, shares of British Airways rose 2.1%, and Air France-KLM shares gained 3.2%. The German DAX 30 advanced 0.2%, supported by Techem which climbed 7.8%. The French CAC 40 edged down 0.1%, while London FTSE 100 moved notably down 0.7%.
