123jump.com Staff
12 Feb, 2007
New York City
Stocks traded lower with no economic news and ahead of Fed Chairman testimony. Home Depot may sell supply division. Russia led the global sell-off with 2.5% loss followed by 2.4% drop in India. European stocks dropped on worries of higher inflation in the U.S. Vodafon agrees to buy fourth largest telecom company in India for $11 B. Hindalco of India to buy Novelis for $6 B and Four Seasons agrees to go private. U.S. Federal deficit declines 57% in the four months of current fiscal year.
123jump.com Staff
12 Feb, 2007
New York City
Stocks declined, pressured by losses in shares of energy companies after a nearly 4% drop in oil prices. Shares of Google fell 1.4% to $455.45 and led the decliners on the Nasdaq. Treasury Department reported deficit for the first four months declined by 57%. Wal-Mart is reported to be searching a partner for Russian chain. Four Seasons agrees to be bought for $82 per share of $3.8 billion by management.
Elena
12 Feb, 2007
New York City
European stocks closed lower on Monday, as companies in the construction sector declined, offsetting gains from mobile telecom giant Vodafone Group. The French Saint Gobain and Britain''s Hanson dropped more than 1% amid interest-rate worries. Shares in mobile operator Vodafone Group rose 1.3% after the company agreed to buy a 67% stake in India''s Hutchison Essar for $11.1 billion. The German DAX 30 slipped 0.8%, the French CAC-40 dropped 0.9%, and the U.K. FTSE 100 fell 0.5%.
Elena
12 Feb, 2007
New York City
U.S. stock markets continued to post losses amid disappointment over the collapse of several acquisition deals and cautiousness ahead of key economic data. Bristol Myers dropped 5% on news that Sanofi-Aventis ended deal talks amid a disagreement over price. At the same time, Four Seasons Hotels dropped 3% after it agreed to be taken private by Cascade Investment, Kingdom Hotels and Isadore Sharp for $3.8 billion, or $82 a share in cash.
Elena
12 Feb, 2007
New York City
U.S. stocks opened narrowly mixed on Monday, as an upgrade of Apple failed to offset disappointing deal news and uncertainty ahead of key economic data due out later this week. Bristol-Myers Squibb fell 4% following a report that Sanofi-Aventis ended merger talks with the U.S. pharmaceutical group. The Nasdaq Stock Market fell 1.6% after saying over the weekend that shareholders did not approve its bid to acquire the London Stock Exchange.
Ivaylo
12 Feb, 2007
New York City
Vodafone appears to lead in the bid for Hutchison Essar in a fiercely contested battle last night in a deal that values the fourth largest mobile operator in India at $19 billion. It will be the largest foreign investment in the history of India. Vodafon bid topped the offer put forward by Reliance Communications, the second largest mobile operator, the one by Essar, conglomerate that already owns 33% of Hutch Essar and Hinduja group, the fourth bidder. vodafone may need additonal partners.
Ivaylo
12 Feb, 2007
New York City
Asian market finished lower Monday, with Hong Kong tumbling on China Mobile and property developers. In South Korea, shares ended lower on banking and technology stocks. The Australian benchmark index also lost but the material sector bucked the trend and gained. On the other hand, Chinese stock markets advanced on bargain hunting in large-caps. Markets in Japan were closed for a national holiday.
Ivaylo
12 Feb, 2007
New York City
The market displayed negative bias at the opening and continued to slide in the session. There were seven decliners for every advancer and not a single stock in the Sensex ended in positive territory. Hindalco led the decliners, Reliance Comm, BHEL and Bharti Airtel also plummeted. India
Ivaylo
12 Feb, 2007
New York City
The market opened with a negative gap and kept its downward trend for the whole session. The market-breadth was appalling as there were seven decliners to every advancer and not a single stock in the Sensex ended in positive territory. Hindalco led the decliners, Reliance Comm, BHEL and Bharti Airtel also plummeted. India
Ivaylo
12 Feb, 2001
New York City
European markets declined in early trading on Monday, as travel companies plunged on oil price strength and with technology stocks and financials were lower. Metals producers were also down on concerns over possible interest-rate hikes, with a tour operator merger between MyTravel and Thomas Cook and Vodafone Group deal to buy an Indian mobile operator failing to boost sentiment. In early trade, Frankfurt Xetra Dax shed 0.7%, the CAC 40 in Paris lost 0.7% and London FTSE 100 slipped 0.3%.
Ivaylo
12 Feb, 2007
New York City
Gold prices surged to a six-month high Friday on the New York Mercantile Exchange as crude oil broke through the $60 mark and sparked a round of fund buying. During the day the most-active gold contract reached a six-month high of $674. Silver followed suit and advanced. April platinum probed an 11-week high and copper advanced to its highest level of the week. Crude oil futures rose to a five-week high.
123jump.com Staff
09 Feb, 2007
New York City
Stocks turned lower as earnings season nears close, with oil prices above $60 a barrel and comments from Fed officials weighing on shares. Averages lost their morning gains on Fed inflation talk. As usual Fed talked tough but has been lax on fighting inflation. GM jumped 7% after Deutsche Bank upgraded the stock to buy from hold. Ford and Chrylser rose as well. Fortress Investment IPO gained nearly 90%. New Century Financial lost nearly 40% in two days.
123jump.com Staff
09 Feb, 2007
New York City
Indexes face heavy selling on comment from Fed officials. Two Fed Presidents in prepared remarks said that rates will go higher if inflation stays stubborn. Bond market fell on the comments. Fortress Investment Group IPO soared more than 75% on the first day of trading. MasterCard warned that operating margins may come under pressure in 2007.Oil and gold rise as indexes fall.
Elena
09 Feb, 2007
New York City
European stocks gained ground on Friday, with DaimlerChrysler leading the automotive sector higher. DaimlerChrysler rose 3.2% after the automaker announced a deal to lower its stake in Airbus owner EADS from 22.5% to 15%. Oil and resources shares also provided support. Oil company BP added 0.6%, while miner BHP Billiton climbed 1.6%. The German DAX 30 gained 0.5%, the U.K.''s FTSE 100 rose 0.6% and the French CAC-40 added 0.5% at 5,692.45.
Elena
09 Feb, 2007
New York City
U.S. stocks lost direction in late morning trade. Investors weighed brokerage upgrades of giant automakers and the semiconductor sector along with earnings reports from companies like MasterCard and Gateway. Fortress Investment Group shares started trading 89% higher at $35, as the company became the first U.S. hedge fund and private equity group to go public. Fortress priced its IPO at $18.50 a share. The offering raised $634 million for Fortress. The stock was recently up 74%.
