Elena
31 Oct, 2006
New York City
European stock markets finished little changed Tuesday, reflecting gains in transport and auto shares on the back of weaker oil prices, but losses in the banking in the wake of disappointing results reported by Swiss banking giant UBS. Germany''s DAX Xetra 30 index gained 0.17%. London FTSE 100 index added 0.04%. The French CAC 40 closed down 0.25%.
Elena
31 Oct, 2006
New York City
Stocks traded in a lackluster fashion after a decline in consumer confidence countered stronger-than-expected quarterly earnings. Eastman Kodak Co. rose 4% to $24.70 after posting a narrower-than-expected loss amid a 10% decline in sales.
Elena
31 Oct, 2006
New York City
The Sensex witnessed a highly volatile session Tuesday with selling continuing throughout trading, making the benchmark index shed points. Although the turnover rose sharply, the market-breadth was weak, as selling hurt small-caps and mid-caps. State bank gained after RBI kept key interest rates unchanged in its credit policy announced today. The central bank raised slightly its overnight lending rate. Tata group and Reliance Communication led the decliners.
Elena
31 Oct, 2006
New York City
Stocks posted modest gains at opening, as Procter & Gamble Co. reported stronger-than-expected results and oil prices further declined amid easing political tensions. Light, sweet crude, fell 56 cents to $57.80 a barrel in electronic trading. In other earnings news, Eastman Kodak Co. posted a loss of $37 million, or 13 cents a share in Q3, citing $202 million in restructuring costs. The stock rose 5.7%.
Ivaylo
31 Oct, 2006
New York City
Cairn Energy and BG fell as US crude for delivery in December dipped again, BP declined after preliminary findings by investigators at the US Chemical Safety Board showed a history of serious accidents. However, the FTSE 100 index was little changed at midday on Tuesday, erasing earlier losses as companies announced upbeat third-quarter earnings, but the market remained cautious ahead of U.S. economic data. The FTSE 100 is 0.26% higher at 6,143 in the afternoon on Tuesday.
Elena
31 Oct, 2006
New York City
U.S. stock market futures traded higher Tuesday, boosted by uplifted earnings outlook at Procter & Gamble on a better commodity and energy cost forecast. The consumer products maker reported higher-than-expected Q1 profit jump of 33% to 79 cents a share, up from 77 cents last year, boosted by 27% revenue.
Elena
31 Oct, 2006
New York City
Sirna is a small biotechnology company developing drugs based on new technology, the so-called RNA interference technology. Merck''s $13-per-share offer is almost a 102% premium over Sirna''s closing price of $6.45. Sirna''s stock surged 98% to $12.74 in after-hours trading.
Ivaylo
31 Oct, 2006
New York City
In Japan, investor disappointment over profit guidance impacted sentiment negatively. Machinery and large-cap stocks countered the displeasure of investors at the lack of upward revised forecasts from companies. South Korea stocks were led higher by strong gains from Lotte Shopping and other retail stocks. Elsewhere in the region, Hong Kong, Taiwan and New Zealand gained while Australia slipped.
Ivaylo
31 Oct, 2006
New York City
Banks reversed earlier losses and also insurers made strong earnings-driven gains. Carmakers recovered some of the previous losses, with DaimlerChrysler leading the advance on speculation it may sell its poorly-performing US Chrysler group. UBS, the biggest wealth manager in the world, impacted the market negatively as it posted a worse-than-forecast 21% drop in third-quarter net profit. By mid morning, the FTSE 100 rose 0.3%, Frankfurt Xetra Dax added 0.4%, the CAC 40 in Paris climbed 0.1%.
Ivaylo
31 Oct, 2006
New York City
The December gold futures rose above the 50-day moving average, which as of the close stood around $602.20. A lot of it was technical buying in nature. The market put in a better performance despite weaker energy, divorcing itself from that. Copper futures pared steep losses from early Monday when bargain hunting emerged after the metal had initially plunged due to softer energy prices.
123jump.com Staff
30 Oct, 2006
New York City
Core rate of inflation of in Sept rose 0.2%, excluding food energy prices, down from 0.3% in August. Annual core inflation index PCE index measure for the year so far is running at 2.4%, higher than 2% target rate for the Central Bankers rate. Verizon reported Q3 revenue lower than expected on soft revenue in land-line business. Recent acquisitions and rise in wireless unit helped the total earnings.
Elena
30 Oct, 2006
New York City
European stock markets closed down on Monday, as investors turned to profit taking mainly in the mining and auto sectors. Negative mood on Wall Street in early trading further pushed stocks down. Germany''s DAX Xetra 30 index closed lower 0.07%, while the French CAC 40 slipped 0.63%. London FTSE 100 finished down 0.55%.
Elena
30 Oct, 2006
New York City
A steep drop by the oil price helped U.S. stocks recover from earlier weakness, generated by lingering concerns about the strength of the economy and news from Wal-Mart of much-weaker-than-expected October same store sales growth. Energy stocks moved notably down as crude oil dropped 3%, or $1.95 to $58.80 a barrel. At the same time, the price decrease contributed to significant strength in the oil-sensitive airline sector.
Elena
30 Oct, 2006
New York City
The Indian benchmark index closed at an all-time high above the 13,000 level as earnings results continue to be strong. The record level comes ahead of the Reserve Bank of India review of interest rates Tuesday. Investors expects the bank to keep a key short-term rate unchanged. Stocks of private sector banks, refiners, and index large-caps Infosys, Reliance Industries and ONGC helped the barometer index rally. Tata Motors, SAIL, ABB and ITC declined on Q2 results.
Elena
30 Oct, 2006
New York City
U.S. stocks started trading lower Monday, as lackluster same-store sales figures released by Wal-Mart reignited worries about the condition of the U.S. economy. In addition, the Commerce Department reported the smallest consumer spending rise of 0.1% in September. In earnings news, Verizon Communications posted Q3 profit above analyst forecasts on 26% revenue increase. The company reported earnings rise of 66 cents per share, up from 68 cents per share last year. The stock fell 2%.
