Elena
02 Nov, 2006
New York City
U.S. stock markets opened in the negative on Thursday, reflecting disappointing retail sales and weak economic data. The Labor Department said that productivity was flat in Q3, while wages rose by 3.8%. Among major retailers, Wal-Mart reported a meager 0.5% rise in same-store sales and also predicted flat same-store sales in November. Discount retailer Target reported same-store sales growth of 3.9% that fell below expectations of 4.2%.
Ivaylo
02 Nov, 2001
New York City
The FTSE was helped by strong results from Unilever and a recovery in the pharmaceuticals sector. Unilever led the advancers after the Anglo-Dutch consumer goods group unveiled plans to return more cash to shareholders along with its third quarter results. GlaxoSmithKline and Astrazeneca gained following a report from a healthcare information company. The FTSE 100 recouped from its early losses to trade just 0.6 points lower at 6,149.0.
Ivaylo
02 Nov, 2001
New York City
Asian shares closed mixed on Thursday, as the leading share index of Hong Kong soared to a fresh record close while the Nikkei 225 benchmark of Tokyo declined as Japanese large-caps such as Canon Inc. and Nikon Corp. retreated on renewed worries over the pace of growth in the U.S. economy. Sentiment was also undermined by the lack of upward revisions in Japanese corporate earnings reports. Australia was the other decliner in the region despite strong support from mining stocks.
Ivaylo
02 Nov, 2006
New York City
European shares fell on Thursday, hurt by concerns over a flagging U.S. economy after recent downbeat data and by a mixed set of third-quarter numbers from some of biggest companies in Europe, including Unilever and BASF. Mining and financial stocks also weighed down on the market. Miners dropped on the demand implications behind slowing growth in the US. By mid morning, the FTSE 100 in London shed 0.25, Frankfurt Xetra Dax fell 0.23%, and the CAC 40 in Paris lost 0.7%.
Ivaylo
02 Nov, 2006
New York City
An ISM report indicating growth in the manufacturing sector is at its slowest pace in 3 years sparked weakness in the dollar. Gold, regarded as a hedge against inflation, rallied, despite a dip in crude oil prices. December copper contract took a plunge after investors liquidated their long positions in the metal and the LME saw a large rise in warehouse stocks.
Elena
01 Nov, 2006
New York City
European stock markets finished Wednesday session higher largely on gains in the mining sector. Resource stocks like Rio Tinto and BHP Billiton climbed 2.5% on the back of record-high zink price. The gold sector also showed considerable strength. Shares of oil giants BP and Total also contributed to the upward move. London FTSE 100 rose 0.33%. The German DAX 30 added 0.3%. The French CAC 40 closed up 0.41%.
Elena
01 Nov, 2006
New York City
U.S. stocks erased earlier gains on the heels of disappointing economic data which added to concerns about the slowing U.S. economy. The data showed an unexpected slowdown in the pace of growth in the manufacturing sector and an unexpected drop in construction spending. Garmin Ltd. turned into the biggest decliner on the Nasdaq, falling 14%, on disappointing sales.
Elena
01 Nov, 2006
New York City
The Sensex recovered from an early plunge Wednesday, as trading was gripped by high volatility and surged in the afternoon session. Reliance Industries led the comeback, helping the benchmark index close at an all-time high, above the 13,000 level. The rally was range-bound as some small-cap and mid-cap stocks declined. Reliance Industries surged on the back of bullish reports. Bharti Airtel and Reliance Communications also rallied. HDFC and ONGC led the decliners.
Elena
01 Nov, 2006
New York City
Better-than-expected earnings from MasterCard and an upbeat forecast for private-sector employment in October pushed stock higher at opening. MasterCard reported 82% profit jump in Q3 to $1.42 a share from 79 cents last year, due to an improved revenue and a higher number of purchases worldwide. Deal talks about a combination of pharmacy benefits manager Caremark Rx and drugstore chain CVS Corp. also contributed to the upside move.
Ivaylo
01 Nov, 2006
New York City
The FTSE advanced by lunchtime on Wednesday, helped by a strong showing across the mining sector and a positive reaction to the plans of Cairn Energy to float its Indian business. A rebound in gold, copper and silver prices pushed Xstrata higher with Anglo American, Lonmin and BHP Billiton also moving ahead. The FTSE 100 in London extended its early gains to trade 22 points, or 0.4%, higher.
Elena
01 Nov, 2006
New York City
U.S. stock market futures turned higher after a survey report showed that the U.S. economy added about 128,000 private-sector jobs in October. Automakers are also expected to report higher October U.S. sales compared to the same month a year ago. Time Warner posted sharply higher Q3 earnings of 57 cents a share, up from 18 cents last year. Revenues rose 7% to $10.9 billion. However, profit and revenue came in slightly below estimates. Time Warner held to its 2006 outlook.
Elena
01 Nov, 2006
New York City
The cash deal is valued at about $1.3 billion, or $36.50 per share after a special dividend of $16.00 per share already declared by Banta. The offer represents a premium of 18.6% over Banta''s closing share price Tuesday on the Nymex of $44.28. The transaction is expected to complete in Q1 of 2007.
Ivaylo
01 Nov, 2006
New York City
In Japan, investors boosted shares of Mitsubishi UFJ, the large-cap financial firm, despite weakness of exporters Honda Motor and Sony Corp. due to the extended gains from the yen against the dollar. South Korea and Australia both rose, while Weighted Price Index in Taiwan fell. Shares listed in Singapore advanced, with the benchmark Straits Times Index gaining. The China Enterprises Index, trading in shares listed in Hong Kong also added.
Ivaylo
01 Nov, 2001
New York City
European stocks were slightly higher Wednesday as banks dominated following merger updates from Banco Popolare di Verona e Novara and Banca Popolare Italiana. Oil companies and metal stocks also helped the markets, with BP and Total advancing. Rio Tinto and BHP Billiton gained after zinc prices touched record highs and as gold prices also strengthened. In early trade, the FTSE 100 in London gained 0.2%, Frankfurt Xetra Dax climbed fractionally, and the CAC 40 in Paris was flat.
Ivaylo
01 Nov, 2006
New York City
The precious metals had surged earlier in the day, as a softening dollar and slowing economy usually boost gold, which is regarded as a hedge against inflation. Profit-taking, the countdown to elections, and catch-up with oil prices, which fell more than $2 on Monday, took the wind out of sails of the precious metal.
