Ivaylo
14 Feb, 2007
New York City
Gold futures reached a six-month high on Tuesday at the New York Mercantile Exchange after the U.S. trade deficit widened more than expected in December. Silver futures followed gold lead and also hit a two-month high. Triggered by a drawdown in inventories, copper futures broke out of a recent range and finished at a nearly two-week high. Oil and the other energy futures gained too.
123jump.com Staff
13 Feb, 2007
New York City
The Commerce Department reported that the trade deficit rose 6.5% in the year 2006 to $764 billion. Imports rose 12.8% and exports gained 10.4%. Market averages gained on buy out speculations for Alcoa. Materials and energy sectors rose as oil and metals prices climbed. Crude futures rose 2% to close above $59 after the International Energy Agency increased its forecast for global oil consumption this year. KB Homes reported a loss of $64 million compared to a gain of $344 million a year ago.
Elena
13 Feb, 2007
New York City
European stocks finished Tuesday session in the positive, boosted by gains from carmakers, airlines and miners. Speculation in the mining sector that BHP Billiton and Rio Tinto are considering a bid for U.S. aluminum producer Alcoa lifted the mining sector. Rio Tinto and BHP Billiton gained about 2.2% each. The French CAC-40 advanced 0.7%, the U.K.''''s FTSE 100 rose 0.5%, and the German DAX 30 added 0.5%.
Elena
13 Feb, 2007
New York City
Wall Street rallied, led by metals-mining stocks with Alcoa rising 8% amid reports that mining companies BHP Billiton and Rio Tinto are considering bids to buy the company for $40 billion. In earnings news, KB Home rose 1% after it swung to a loss in the Q4, citing an oversupply of new and resale homes in the second half of 2006. The auto sector was given a lift by a brokerage upgrade of GM, sending its shares up 3%. DaimlerChrysler gained 2.7%.
Elena
13 Feb, 2007
New York City
U.S. stock markets posted solid advance at opening on well-received news that Alcoa may be the focus of two separate takeover bids, an upgrade of General Motors and news of a large stock buyback by 3M Co. Alcoa surged 7% on reports that BHP Billiton and Rio Tinto are considering buyout bids for the aluminum producer. GM rose 3.3% after Merrill Lynch upgraded its stock, while Ford fell 2.4% on downgrade. 3M rose 2.6% after it announced plans to buy back up to $7 billion of its own shares.
Ivaylo
13 Feb, 2007
New York City
UK market traded higher on Tuesday in spite of weakness in the property sector. The market sentiment was boosted by the news of lower inflation ahead of the release tomorrow of the key inflation report by the Bank of England. Mining stocks were among the leading advancers as the price of copper firmed. British Energy plunged although the company invited partners to build new nuclear power plants. By mid-day, the FTSE 100 was 13.7 points higher at 6,367.1.
Elena
13 Feb, 2007
New York City
U.S. stock futures advanced on Tuesday, boosted by reports of a possible buyout bid for aluminum producer Alcoa, a buyback program announced by 3M and an upgrade of General Motors. Alcoa jumped 7% on news that BHP Billiton and Rio Tinto are considering separate bids. 3M gained 1.2% after the company said it plans to buy back up to $7 billion in shares over the next two years, its biggest buyback plan ever. GM gained 3.5% after Merrill Lynch upgraded the automaker to buy from sell.
Ivaylo
13 Feb, 2001
New York City
Asia ended mixed Tuesday with Japanese stocks reaching their highest level in more than six years, but HK stocks dropped sharply on investor worries over fund outflows before the Lunar New Year. In South Korea, the benchmark index was buoyed by news related with North Korea, while Chinese transport-related companies lifted shares higher on heavy traffic before the Chinese New Year. In Australia, the stock market set new record highs, as investors were focused on earnings and M & A activity.
Elena
13 Feb, 2007
New York City
According to reports, BHP Billiton and Rio Tinto are separately considering bids for the aluminum producer, but haven''t approached Alcoa''s board yet. The report suggests that the metals giants want to boost production with aluminum prices hitting records. Shares in the Dow component rose 10% in Frankfurt, while BHP Billiton and Rio Tinto each gained 1.3% in midmorning London trading.
Ivaylo
13 Feb, 2007
New York City
The market opened lower and soon tumbled below to a low of 13,958. The market recovered at noon on buying in large-caps. Market fell again to rebound just before close with a 100 loss. Bajaj Auto, ONGC and Bharti Airtel led the gainers, while Hindalco and Reliance Comm led the decliners. The government is considering the option of reducing the excise duty in gasoline. TCS wins Chinese government contract to revamp foreign exchange system.
Ivaylo
13 Feb, 2007
New York City
The market opened lower and soon tumbled soon below to a low of 13,958 in early deals. The market recovered at noon on intense buying in large-caps. Trading was though, highly volatile and the market fell again to rebound just before close with a 100 loss. Bajaj Auto, ONGC and Bharti Airtel led the gainers, while Hindalco and Reliance Comm led the decline. The government is considering the option of reducing the excise duty in gasoline. World Bank confident India will tame inflation.
Ivaylo
13 Feb, 2007
New York City
European shares rose on Tuesday morning, as gains from oil price-sensitive auto makers and airlines offset weaker performances from drug maker Sanofi-Aventis, Swiss bank UBS and the British property sector. Automaker Peugeot and airline Ryanair gained on the fall of crude oil, while Sanofi Aventis fell although its Q4 operating profit topped expectations. By mid morning, Frankfurt Xetra Dax gained 0.4%, the CAC 40 in Paris added 0.4% and London FTSE !00 climbed 0.2%.
Ivaylo
13 Feb, 2007
New York City
Last week
123jump.com Staff
12 Feb, 2007
New York City
Vodafone has found its passage to India, but at what cost. The company, known for its expensive telecom asset acquisition in the past, appears to be ready to pay top dollars for a fast growing mobile operator in one of the fastest growing cell phone markets in the world. Assumptions of market growth rates may have to be revised if current estimates of economic growth rates may not be realized. Vodafone may need more than third partner to share this risk.
123jump.com Staff
14 Feb, 2007
New York City
Market averages got a much needed boost from the Fed Chairman Bernanke. During the speech in front of Senate Banking Committee, the Chairman said that economy is in good health but will grow at a slower pace this year. The growth may pick up on 2008 if housing market continues to stabilize. The Chairman also suggested that the inflation is on decline but remains at elevated level. He also added that record trade deficits are not good for the country but raising trade barriers will do more harm.
