Ivaylo
30 Oct, 2006
New York City
Weaker-than-anticipated U.S. economic-growth data caused investors to sell stocks. Investor sentiment also suffered by a 0.7% drop in Japan industrial production in September from August, the first fall in two months, and the dollar weakening against the yen. In South Korea, technology stocks and brokerage shares led the decline. HK also lost, while Australia gained, boosted by construction stocks.
Ivaylo
30 Oct, 2001
New York City
European stocks retreated from recent gains on Monday following lower-than-expected gross domestic product data Friday from the largest economy in the world and as investors took to profit-taking, particularly in the auto sector. Companies such as Dutch bank ABN Amro and publisher Pearson also traded lower after updating investors on progress. By mid morning, the FTSE 100 in London lost 0.6%, Frankfurt Xetra Dax fell 0.7%, and the CAC 40 in Paris shed 0.9%.
Ivaylo
30 Oct, 2006
New York City
The economy advanced in the latest quarter at an annual rate of 1.6%, the Commerce Department announced Friday, its slowest rate in more than three years. That news drive down the value of the dollar, which would normally make gold prices rise, as gold is denominated in the U.S. currency and considered a hedge against inflation. Instead, gold inched up marginally.
123jump.com Staff
27 Oct, 2006
New York City
Economy grew at a an anual rate of 1.6% in the second quarter, lower than 2% estimated on higher trade gap and slowing housing sector. Chevron profit rose 40% on higher oil price. Net income jumped to $5.02 billion from $4.69 billion a year ago on a fall in revenue of 1%. Mexico based cement company, Cemex offered $12.8 billion to Australia based Rinker.
Elena
27 Oct, 2006
New York City
European stock markets finished in the red, pressured by weak pharmaceutical stocks for a second straight session. Disappointing sales figures, released by advertising company WPP and slower-than-expected economic growth in the U.S. also contributed to the weakness. The U.K.
Elena
27 Oct, 2006
New York City
Weaker-than-expected Q3 GDP data generated negative sentiment on Wall Street, but speculation that continued weak data would prompt an interest-rate cut softened the decline. After the news was released, shares of Dow component Caterpillar fell 1%. The U.S. dollar also came under pressure, falling 1% vs. the yen. General Motors lost almost 1% following a brokerage downgrade.
Elena
27 Oct, 2006
New York City
Strong quarterly earnings of mobile phone company Bharti Airtel together with news that a fire at Reliance Industries earlier this week has had minimal impact on production helped Indian shares rally on Friday. Buying was supported by the smooth rollover of open positions in the futures and options segment yesterday. The annual inflation rate in India has hit a four-month high. All-India bank strike was called by United Forum of Bank Unions.
Elena
27 Oct, 2006
New York City
Stocks opened in the negative amid data, showing that the economy grew at the slowest pace in more than three years, due to cooling housing market. The good news came from Chevron Corp. which said its Q3 soared to $5 billion, hitting a new high in its 127-year history. The company posted 40% profit jump of $5.02 billion, or $2.29 per share, up from $3.59 billion, or $1.64 per share last year, beating analysts'''' estimates.
Ivaylo
27 Oct, 2006
New York City
London remains deep into the red with miners still weak, pharma stocks under pressure and WPP receiving a bad reception for its third quarter figures. Advertising and marketing company WPP Group fell 4.6 % to 657
Elena
27 Oct, 2006
New York City
U.S. stock futures traded lower, hurt by disappointing GDP data. The Commerce Department reported that Q3 U.S. economic growth slowed sharply, increasing at a real seasonally adjusted annual rate of 1.6% after a 2.6% increase in Q2. The growth rate came in below the 2.0% growth rate expected by economists.
Elena
27 Oct, 2006
New York City
U.S. stock market futures pointed to a lower opening Friday, reflecting quarterly earnings from Microsoft and nervousness before GDP data, expected to show that the U.S. economy grew at a slower pace. Microsoft reported an 11% rise in both profit and revenue in Q1 amid higher-than-expected sales. But the company also warned that its results for Q2 would be hurt by plans to defer about $1.5 billion in revenue to the following quarter.
Ivaylo
27 Oct, 2006
New York City
The Nikkei Average in Japan slipped as investors resorted to profit taking. The banking sector led the decline. Shares in one of the biggest state-owned banks in China advanced 15% in trading on the Hong Kong exchange on Friday, in line with what the market had expected from the debut of the largest-ever initial public offering in the world. Elsewhere in the region, Australia and South Korea dipped, while Taiwan and Malaysia rose.
Ivaylo
27 Oct, 2001
New York City
Losses in pharmaceuticals and advertising company WPP offset gains in tech stocks on Friday. Tech stocks were boosted by a strong performance the US market, as after the US close, Microsoft reported strong third quarter numbers. AstraZeneca, a pharmaceutical company, retreated as Credit Suisse lowered its recommendation and brought the market lower. By mid morning, the FTSE 100 eased slightly, Frankfurt Xetra Dax was also marginally better, while the CAC 40 in Paris fell 0.1%.
Ivaylo
27 Oct, 2001
New York City
The weaker dollar was blamed on the fallout from the late-Wednesday statement from the FOMC, which was seen as dovish on interest rates, combined with expectations for more monetary tightening from the European Central Bank. Gold and silver got off to a pretty decent start this morning on follow-through from the afternoon gains yesterday after the Fed basically sat on their hands.
123jump.com Staff
26 Oct, 2006
New York City
New homes sales rose for the second month in a row but median home sales price fell to $217,000. ExxonMobil profit rose 5.7% to $10.9 billion and Shell profit fell 34% on problems in Nigeria. Microsoft profit jumped 11% on strong sales in XBox. Microsoft earned in the quarter 35 cents vs. 29 cents compared to a year ago. Navteq rose 16% and Chicos gained 7%.
