Elena
26 Oct, 2006
New York City
European stock markets closed mixed on Thursday, reflecting disappointing news from major drug companies, losses in the metals sector, and positive earnings news from other companies like Royal Dutch Shell and telecoms provider France Telecom. London FTSE 100 finished down 0.48%, dragged by AstraZeneca and GlaxoSmithCline. The German DAX 30 gained 0.31%. The French CAC 40 rose 0.21%.
Elena
26 Oct, 2006
New York City
U.S. stocks turned lower as investors turned to profit taking, but Exxon Mobil Corp. helped limit the downward trend on a strong earnings report. The latest report on the housing sector offered a mixed picture. The government reported that new homes sales unexpectedly rose 5.3% in September, the most in three months, while median sales prices dropped to a 36-year low of 9.7%.
Elena
26 Oct, 2006
New York City
Banks rallied today, supported by strong second-quarter results. The surge in the sector was also buoyed by the decision of the Fed to leave interest rates intact. Rates hikes draw capital to the U.S. economy, thus leaving emerging markets out of investment flows. Another factor contributing to the rise was short covering in derivatives due to expiry of October 2006. ICICI Bank and SBI led the advancers today, while the main decliners were ranbaxy and Hindustan Lever.
Elena
26 Oct, 2006
New York City
U.S. stocks extended gains Thursday, helped by strong results from Exxon Mobil and upbeat economic data. Exxon Mobil rose 1.5% after the oil giant posted better-than-expected quarterly results, buoyed by higher crude-oil and natural-gas realizations and improved marketing. The Commerce Department reported capital spending continued to rise as durable goods orders jumped to a six-year high of 7.8%.
Ivaylo
26 Oct, 2006
New York City
GlaxoSmithKline and AstraZeneca suffered setbacks with their most-advanced experimental treatments. Their shares had their steepest declines in almost two years. Banks also traded in the red. Northern Rock, Royal Bank of Scotland and Lloyds TSB in trouble, while miners gave back early gains. Anglo American, Lonmin and Rio Tinto are lower, although, Vedanta Resources is still in the blue. The FTSE 100 in London is almost flat in the afternoon, at 6,217, or 0.03% higher.
Elena
26 Oct, 2006
New York City
U.S. stock futures indicated a higher opening on the back of stronger-than-expected earnings and steady interest rates. A bigger-than-expected jump in durable goods orders and higher weekly jobless claims had little effect on futures. Exxon Mobil reported Q3 earnings rise of $10.49 billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or $1.58 per share, exceeding expectations of $1.59.
Elena
26 Oct, 2006
New York City
Hewlett-Packard agreed to acquire the software maker in late July for $4.5 billion, or $52 a share, with the offer being extended until October 27. H-P is extending the offer again, this time until November 1. H-P said that approximately 38.9 million Mercury Interactive shares had been tendered as of October 24, short of the 50.1% majority it needs to complete the deal.
Ivaylo
26 Oct, 2006
New York City
Hong Kong led the advance in Asian markets on Thursday, with the benchmark index hitting a record closing high on gains in China Mobile and offshore oil and gas producer CNOOC on higher crude-oil prices. In Japan, the rally was led by commodity stocks helped by higher oil prices and gains in auto makers. Telecommunication and technology companies boosted South Korean shares. Australia, Taiwan and Shanghai also recorded gains.
Ivaylo
26 Oct, 2006
New York City
European shares rose to new five-year highs on Thursday morning, after the U.S. Federal Reserve allayed U.S. economic growth fears, keeping rates on hold and after some strong third-quarter financial results from Continental and U.K. companies including oil company Royal Dutch Shell and telecommunications provider France Telecom. In early trade, the FTSE 100 in London climbed 0.4%, Frankfurt Xetra Dax added 0.4%, and the CAC 40 in Paris gained 0.5%.
Ivaylo
26 Oct, 2001
New York City
Gold and silver retreated in early trading. But once strong oil inventory numbers came out, they really put a floor under the gold price and sparked this rally. Gold rally is encouraging but the metal for now still remains very closely connected to oil, and as such is still vulnerable to liquidation. Historically, there has been a link between gold and oil since higher oil prices tend to offer a hint of inflation, and market participants buy gold as an inflation hedge.
123jump.com Staff
25 Oct, 2001
New York City
Market averages rallied after the news that Fed has left the interest rates unchanged for the third time in last four months.Oil and gas rose on lower inventory report and cooler weather in Northern U.S. GM reported revenue rise of 4% and a smaller loss of $115 million. Anheuser Busch reported Q3 earnings of 82 cents vs. 65 cents a year ago. P F Changs reported earnings of 25 cents vs 31 cents a year ago on revenue gain of 14%.
123jump.com Staff
25 Oct, 2006
New York City
Fed kept target rates unchanged for the third month in a row. Target rate remained at 5.25% since late June. Fed noted that economic growth rate is likely to slow on cooling housing market. Oil rose above $61 on lower inventories. GM posted smaller loss on 4% rise in sales, stock drops. PF Changs reported lower profit on higher food cost, stock jumps. Corning dropped closed to 10%. KLA Tencor gained more than 9% on better revenue.
Elena
25 Oct, 2006
New York City
European stock markets finished higher. The positive sentiment was generated by earnings-inspired news from auto maker DaimlerChrysler and tire maker Michelin, which helped offset nervousness around the Fed Reserve
Elena
25 Oct, 2006
New York City
Investors traded cautiously, awaiting the Fed Reserve''s decision on interest rates and an indication about the rates outlook. Tech stocks were driven higher by stronger-than-expected quarterly results from Amazon. Altria Group rose 3.4%, helping to limit losses on the Dow after setting a date to decide the spin-off of its Kraft Foods unit. The Dow declined after existing home sales data for September showed sales declined more than expected to 6.18 million units from 6.30 million in August.
Elena
25 Oct, 2006
New York City
U.S. stock averages opened mixed, with the Dow moving lower, hurt by losses for General Motors and Boeing, while the Nasdaq moving up, supported by earnings-inspired gains for Amazon. The online retailer jumped 9% on better-than-expected quarterly results, prompting five brokerages to lift price targets on the stock.
