123jump.com Staff
17 Nov, 2006
New York City
European stocks closed lower on weakness in oil, metals and auto stocks. Markets across the region closed lower led by near 3% decline in Norway and 1% loss in the UK and Belgium. UK based Corus is set to receive a higher bid from Brazil based CSN, topping the current bid from Tata Steel from India. Corus stock closed higher the new bid price from CSN, indicating that a bidding war between CSN and Tata Steel is likely in the coming weeks.
123jump.com Staff
17 Nov, 2006
New York City
Market averages at mid-day trading came under pressure on lower than expected housing starts and weaker than expected earning. The housing starts for October were reported at 1.486 million lower than the estimates of 1.55 million from economists. Home builder stocks traded lower on te news. Nymex priced 6.5 million shares in IPO at $59 per share and opened at $120 to trade as high as $152 before settling at $137.
Elena
17 Nov, 2006
New York City
The benchmark index was in correction mode today, as banking and cement stocks, which drove the rally, took a plunge in a volatile trading. Profit-taking emerged in the latter part of trading in large-caps stocks, the result probably of worse-than-expected inflation figures, paying no heed to Indo-US nuclear deal. Dr Reddy led the decliners today, ONGC and Gujarat Abuja followed. HDFC led the gainers, Reliance Communications and Bharti Airtel also rose.
Elena
17 Nov, 2006
New York City
Stocks reversed from solid gains after the Commerce Department reported that housing construction fell to its lowest level in more than six years. A sharp decline of crude oil prices provided some support. Nymex Holdings will be in the spotlight as it priced its IPO above the planned range late Thursday. The IPO of 6.5 million shares priced at $59 each, came in above the expected range of $54 to $57 a share. The deal was expected to open with a premium of between $10 and $15.
Ivaylo
17 Nov, 2001
New York City
London shares traded lower in the morning, despite a new record high on the US market overnight, as a slide in crude prices has knocked oil groups and also energy companies. BG, BP and Royal Dutch Shell were all lower as is British Energy despite reporting an improved half year performance. Weakness in metal prices overnight led the mining sector lower. The main index FTSE 100 was 15.1 points or 0.2% lower in mid-morning trade.
Elena
17 Nov, 2006
New York City
U.S. stock futures declined Friday, following weaker-than-expected data on the housing market. New U.S. homes construction plunged 14.6% in October to the lowest level in six years, while building permits dropped 6.3%, a nine-year low. Starbucks dropped 6.1% after the coffee retailer reported a 5% decline in Q4 profit on a below-forecast 21% sales rise. Dow component Hewlett-Packard lost 0.3% after the company said that the SEC had started a formal investigation into the spying scandal.
Elena
17 Nov, 2006
New York City
Hewlett-Packard earned $1.7 billion or 60 cents per share, compared with $416 million, or 14 cents per share last year, due to higher sales of laptop computers, printers and servers. Excluding one-time charges, the company
Ivaylo
17 Nov, 2006
New York City
Asian stocks finished mostly higher on Friday, with the Australian benchmark index rebounding, as other markets made slight gains. Most of the advances in Sydney came from financials. Japan, though, slipped as concerns over the pace of future interest-rate hikes weighed on bank shares. South Korean markets got a boost from airline and shipping stocks, while Taiwan edged higher despite losses in mobile phones.
Ivaylo
17 Nov, 2006
New York City
European stocks fell after crude prices plunged to their lowest levels in nearly a year overnight on forecasts of a mild winter in the northern hemisphere. Hopes of a mild winter, together with indications that the US is well supplied with oil, made benchmark crude prices end lower overnight which pressed European oil stocks down. By mid morning, the FTSE 100 in London was 0.2% lower, Frankfurt Xetra Dax gained 0.1%, and the CAC 40 in Paris lost 0.4%.
Ivaylo
17 Nov, 2006
New York City
Metal prices often drop when the dollar advances, as gold is traditionally viewed as a hedge against a weakening dollar. Gold prices also frequently track the movement of the energy markets, because many funds trade commodities as a whole. Gold and copper fell yesterday, while silver was unchanged and platinum and palladium managed to hold onto gains.
123jump.com Staff
16 Nov, 2001
New York City
Stocks rose to a new high for the fifth day in a row on 4.5% drop in oil price and 0.5% drop in CPI for the previous month supported a broad rally led by tech stocks. Two large private equity driven deals for the buy out of Clear Channel Communications and Readers Digest supported a steady rise in market averages. Big lots rose on earnings but Sears holdings, Applied Materials and Dell lost grounds. Hertz Global and KBR IPOs get lukewarm reception. Starbucks miss earnings released after close.
Elena
16 Nov, 2006
New York City
European stock markets finished mostly higher on Thursday, reflecting strong auto stocks and well-received U.S. inflation data. However, disappointing financial results from chipmaker Infineon Technologies, bank BNP Paribas and publisher Reed Elsevier limited the upward trend. London FTSE 100 climbed 0.4%, the German DAX 30 rose 0.2%, while the French CAC 40 edged down 0.1%.
Elena
16 Nov, 2006
New York City
Sears Holdings said that Q3 profits more than tripled, boosted by $101 million in investment income and cost-cutting. Earnings jumped to $1.27 per share, up from 35 cents per share a year earlier, beating analyst expectations of 98 cents. However, company
Elena
16 Nov, 2006
New York City
The benchmark index managed to finish in posititve in a highly volatile session. Once again cement stocks boosted the market led by Gujarat Ambuja Cement on two block trades, helping to boost the turnover above Rs 16,000 crore on two exchanges. The market-breadth remained negative as small-caps and mid-caps are still showing weakness. HDFC Bank led the advancers today, cement stock ACC surged. Infosys led the decliners while pharma and auto stocks also plunged.
Elena
16 Nov, 2006
New York City
Clear Channel Communications Inc., the largest U.S. radio-station owner, agreed to be acquired by an investor group led by private-equity firms Thomas H. Lee Partners and Bain Capital Partners for $18.7 billion in cash. The deal includes about $8 billion in debt. Reader''s Digest rose 8% after agreeing to be acquired for about $1.61 billion by an investment consortium.
