Ivaylo
08 Feb, 2007
New York City
Banking stocks, which were the leading advancers in previous sessions, were under pressure Thursday as traders took profits ahead of interest rate decisions. The markets expect both BoE and the ECB to leave the rates unchanged. Some banks gained, though, including ABN Amro, Julius Baer of Switzerland. By mid morning, Frankfurt Xetra Dax was unchanged, the CAC 40 in Paris edged up slightly and London FTSE 100 was 0.2% lower.
Ivaylo
08 Feb, 2007
New York City
The market opened with an upward bias, but soon plunged into negative territory after profit
Ivaylo
08 Feb, 2007
New York City
Gold futures closed lower Wednesday, unable to hold their ground at the $660-an-ounce level as pullback in oil prices pared the appeal of the metal. Of other precious metals, silver and palladium took their cue from platinum and advanced, while copper continued its downfall. Energy futures closed lower, save for natural gas, which managed to advance. Arabica coffee settled up, while raw sugar declined.
123jump.com Staff
07 Feb, 2007
New York City
In the last calendar quarter, the productivity rose at 3% in the U.S. and labor cost increased by 1.7%. The faster growth in productivity enables many in the economy to spend more and drive retail sales and lower threat to wage inflation. However, for the year 2006, labor cost rose at 3.2% and productivity gained at 2.1%. Equity Office Properties shareholders agreed to be acquired by Blackstone on revised bid of $55.50 per share or $39 billion. Cisco earnings sparked a rally in tech stocks.
123jump.com Staff
07 Feb, 2007
New York City
U.S. stocks were higher, sending the Dow Jones Industrial Average to a new record high, as crude oil prices turned lower while the technology sector received a boost from upbeat earnings and forecasts from Cisco Systems Inc. Biotech and pharma stocks were mixed as shares of Forest Laboratories Inc. lost ground after Citigroup slapped a sell rating on the stock.
Elena
07 Feb, 2007
New York City
European stocks closed in the green territory Wednesday, boosted by gains for mining and tech stocks, as well as continued deal speculation in the utility sector. BHP Billiton rose 5.5% amid a surprising $10 billion share buyback. In the tech sector, shares in Infineon Technologies rose more than 10%. Among utility stocks, E.On shares rose 1%. The DAX 30 gained 0.6% at 6,915.56, the French CAC-40 rose 0.5% to 5,703.00 and the the U.K. FTSE 100 rose 0.4% at 6,369.50.
Elena
07 Feb, 2007
New York City
U.S. stock averages traded higher, boosted by retreating oil prices and solid gains in the tech sector on upbeat earnings and forecasts from Cisco Systems. The Dow was sent to a new record high by gains for Caterpillar, up 1.6%, Hewlett-Packard, up 1.1%, and Intel, also up 1.1%. However, losses posted by Pfizer and Alcoa helped to limit the upside for the blue-chip average.
Elena
07 Feb, 2007
New York City
U.S. stocks opened higher on Wednesday, benefiting from strength in the technology sector largely contributed by 3.5% gain for Cisco Systems on the back of strong earnings and a higher sales forecast. Amazon.com also helped, rising 1% after it announced it is partnering with TiVo to offer movies and TV shows. TiVo shares gained 5%. Infineon Technologies rose 8% after the German chip maker received a contract to supply chips for Nokia.
Ivaylo
07 Feb, 2007
New York City
UK benchmark index traded in and out of positive territory at mid-day after it hit record levels on Tuesday. Strong quarterly results from mining company BHP Billiton were offset by losses in the pharmaceutical sector and negative broker comment. AstraZeneca and GlaxoSmithKline were both lower, but it was Man Group that led the decliners on a downgrade. At mid-day on Wednesday, the FSTE 100 in London was barely 0.15% higher at 6,356.
Elena
07 Feb, 2007
New York City
U.S. stock futures advanced on Wednesday on the back of a better-than-expected quarterly profit and outlook from Cisco Systems which boosted investor confidence in the strength of corporate profits. Shares of Cisco Systems rose 5% in the pre-open after network equipment maker posted a 40% profit jump and strong guidance. Strong Q4 productivity and tame wage inflation data also helped generate positive sentiment. The Department of Labor said that labor productivity grew 3%.
Ivaylo
07 Feb, 2001
New York City
The benchmark index rallied Wednesday on upbeat sentiment after the government released the official GDP growth of 9.2%. Aggressive buying in Bajaj Auto, Infosys and ICICI Bank led the market rise. The rally was not broad-based, though, as the market-breadth was negative. Tata Motors and ONGC led the decliners. The rupee hit a new high against the dollar.
Elena
07 Feb, 2007
New York City
BHP Billiton announced surprisingly a $10 billion share buyback Wednesday after reporting a net profit increase of 41% to a record $6.2 billion for the six months period ending in December. The miner''s revenue for the first half climbed 22% to $22.1 billion, driven by strong production results for most mineral commodities on soaring prices. Company''s stock rose 3.5% in pre-market trading.
Ivaylo
07 Feb, 2001
New York City
Japanese stocks declined, led by exporters including Canon, after the yen gained against 120 yen to the dollar, while chipmakers also led the Nikkei lower as Advantest plunged. Australia surged to a new intraday high on strong performance by BHP Billiton and China also rallied. Singapore rose to a new record high, led by property and banking stocks. South Korea bucked the upward trend, falling on banks and shipbuilders and HK recorded a modest advance.
Ivaylo
07 Feb, 2007
New York City
Upbeat earnings news from Peugeot, Publicis, and a surprising buyback program by BHP Billiton, supported by strong earnings results, boosted European markets Consolidating expectations concerning Spanish company Endesa lifted utilitues, while Swiss pharmaceutical company Roche plunged, despite posting a strong earnings report. By mid morning, Frankfurt Xetra Dax gained 0.4%, the CAC 40 in Paris added 0.3 % and the FTSE 100 in London was 0.1% higher.
Ivaylo
07 Feb, 2001
New York City
Cold weather in the US helped rise the demand of fuel which in turn supported precious metals. The continuing tensions over Iran also aided the market. Gold added $7 to finish at a two-day high and silver hit a seven-week high in intraday. Platinum and palladium also advanced although they remained range-bound. Copper managed to overcome its sell-off on Friday and advanced modestly. Crude oil touched $60, but came off that level. Both Arabica coffee and raw sugar futures lost on Tuesday.
