Ivaylo
19 Oct, 2006
New York City
Traders are also expecting US data and a possible agreement on production cuts by OPEC members. SAP and Ericsson were in focus, while Atos Origin was the subject of speculations that Blackstone, a US private equity firm was considering a takeover of the French information technology company. The U.K. FTSE 100 index sank 0.5%, the French CAC-40 index was 0.5% lower, and the German DAX Xetra 30 index declined 0.4%.
Ivaylo
19 Oct, 2006
New York City
Trading also remained range-bound as gold and silver futures faced some resistance at around $600 an ounce and $12 an ounce, respectively. Gold has struggled to get through the $600 area, where it stalled Tuesday. There has been some talk of physical demand from Southeast Asia, but not much has come from dealers or banks. The metals were range-bound as traders await an OPEC meeting Thursday, which could decide whether oil producers will officially reduce their target output.
123jump.com Staff
19 Oct, 2006
New York City
Mixed economic reports helped market averages to climb higher. CPI fell 0.5% but core CPI rose o.2% in September. Housing starts rose 5.9% but building permits fell 6.3% in the Sept month. JP Morgan reported Q3 earnings of 92 cents beating the estimates of 86 cents. Motorola reported earnings of 32 cents, peny lower than expected and stock fell 5%. Yahoo failed to excite investors and dropped 5% on earnings. Oil dropped below $58 per barrel.
Elena
18 Oct, 2006
New York City
European stock markets rebounded Wednesday on the back of broad-based gains after The Dow Jones Industrial Average broke through the historical level 12,000. The tech sector advanced, with IT services company Cap Gemini, up 2% and SAP, up 0.6%. Mining companies also posted strength. The German DAX 30 climbed 1.1%, the French CAC 40 rose 1.1%, and London FTSE 100 added 0.7%.
Elena
18 Oct, 2006
New York City
U.S. stocks turned mixed after an early rally, sparked by upbeat data and solid earnings reports from Intel Corp. and IBM. The two blue chips lifted the Dow above the historical 12,000 mark for the first time. Intel gained 1.3%, IBM traded 4% higher, but semiconductors fell sharply as gains were offset by a disappointing orders and sales outlook from chip-equipment maker ASML. Novellus Systems also declined.
Elena
18 Oct, 2006
New York City
The market activity is now heavily dependent on second-quarter results.Today, Bajaj Auto showed disappointing results, weighing on the benchmark index in early trading. Although the Sensex managed to reverse the trend in later trading it still finished lower. Ranbaxy, ICICI Bank and Dr Reddy led the advancers but most large-caps finished down with Bajaj Auto and HDFC Bank leading the decline. The Indian Prime Mnister said India was aiming at achieving 10% annual GDP growth by 2011/12.
Elena
18 Oct, 2006
New York City
The Dow Jones Industrial Average hit the 12,000 mark for the first time in its history, boosted by upbeat economic data and earnings-inspired gains for Intel and IBM. Intel rose 2.6% after chipmaker''s Q3 earnings report showed signs of recovery from serious problems. Shares of IBM jumped more than 5% on better-than-expected Q3 profit.
Ivaylo
18 Oct, 2001
New York City
Rising US futures following well received inflation figures gave London a boost at an intraday high ahead of the opening bell in U.S. Financial stocks and miners stood out. Man Group is in focus on reports that it has appointed investment bankers to advise on a demerger of Man Financial, its brokerage arm. Hanson is another strong performer as bid rumours emerge. The FTSE 100 advanced 35.5 points, or 0.6%, at 6,144.3, in mid-afternoon trading.
Elena
18 Oct, 2006
New York City
U.S. stock futures moved higher on Wednesday, lifted by upbeat quarterly earnings, released by Intel Corp. and Yahoo Inc. Intel shares added 1.2% in pre-opening hours after the chipmaker''''s Q3 earnings report showed signs it had overcome the worst of its problems. Intel reported a 35% profit drop, compared to Q2 results, profit rose 47%. Yahoo reported 37% profit drop to 11 cents a share, down from or 17 cents a year ago, meeting expectations. Company''''s shares rose 3.5% in pre-open.
Ivaylo
18 Oct, 2006
New York City
Bargain hunting, particularly of financial stocks, drove the Nikkei down early Wednesday in the wake of an overnight decline on U.S. market. But the market reversed the trend in afternoon trading and ended in positive territory. In South Korea, advances in South Korean banking stocks supported the local stock market to close higher. Hong Kong also rose while Taiwan ended lower.
Ivaylo
18 Oct, 2006
New York City
European stocks advanced in early trading on Wednesday, with the technology sector supported by well-received overnight earnings from U.S. giants Intel and IBM, which, coupled with mining sector gains, helped investors ignore earnings-related news from Akzo Nobel and ASML Holding. The U.K. FTSE 100 index gained 0.6%, Frankfurt Xetra Dax was up 0.5% and CAC 40 in France was up 0.5%.
Ivaylo
18 Oct, 2006
New York City
Every time gold reaches the $600 mark, producer selling pressure from Australia and South America moves in. There is a conflict at that level, but at the same time investment and physical demand surface. Gold had risen earlier in the sesson, on growing tensions between North Korea and the U.N., which bolstered dealer and fund appetite for gold and the rest of the metal complex.
Elena
17 Oct, 2006
New York City
European stock markets retreated from recent gains to close lower Tuesday as higher oil prices dragged auto and transport stocks down, while luxury-goods retailer LVMH and drug maker Roche Holdings declined after posting sales. Inflation fears on Wall Street also hurt market sentiment. The German DAX 30 finished down 1.2%, the French GAC 40 ended lower by 1.1%, and London FTSE 100 ended down 1%.
Elena
17 Oct, 2006
New York City
Merrill Lynch lost 0.3% after it reported Q3 profits more than doubled. United Technologies fell 2%, despite reporting better-than-expected quarterly earnings. Johnson & Johnson gained 1.7% on strong Q3 profit. Chicago Mercantile Exchange Holdings agreed to acquire rival exchange CBOT Holdings for more than $8 billion in a deal that combines the two largest U.S. futures exchanges. CBOT shares surged 12%, while CME shares rose 2%.
Elena
17 Oct, 2006
New York City
The Sensex declined on Tuesday in a volatile trading as profit-taking persisted throughout the day. IT stocks lost finally momentum and finished flat after positive results from Infosys kept the sector upbeat over the last three session. Small-caps and mid-caps succumbed to selling pressure, contributing to a negative market-breadth. Satyam and Hero Honda led the advance, while HDFC Bank was the top decliner. Corus has accepted the bid from Tata Steel.
