Elena
17 Oct, 2006
New York City
U.S. stock markets declined, following inflation data. Downgrade of chip maker Intel also weighed, as the stock fell 3% after Goldman Sachs cut its rating on the stock. In corporate news, Eli Lilly said it will buy joint venture partner Icos Corp. for $2.1 billion cash in a move to get full ownership of the top-selling impotence treatment, Cialis. Lilly will pay $32 per share for each Icos share, a premium of about 18% to Monday''s closing price of $27.12.
Ivaylo
17 Oct, 2001
New York City
London is near its lowest level of the day as financial stocks suffer and ahead of what futures markets are suggesting will be early losses on U.S. market. The banking sector weighed heavily with Barclays among the biggest decliners. Investors were also disappointed at the approach of Tata Steel for Anglo-Dutch steel manufacturer Corus. The FTSE 100 was down 19.8 points to 6,152.4 by mid-day.
Elena
17 Oct, 2006
New York City
A bigger-than-expected rise in core wholesale inflation put futures under pressure Tuesday. The Labor Department said the biggest decline in the seasonally adjusted producer price index in three years. It said that wholesale prices dropped 1.3% in September as the price of energy goods tumbled at the fastest rate in 20 years. Meanwhile, the core producer price index surprisingly rose 0.6%, as the prices of motor vehicles jumped at the fastest rate in more than 15 years.
Elena
17 Oct, 2006
New York City
The retailer plans to buy the hypermarkets from Taiwanese Trust-Mart. If the deal completes, Wal-Mart will become the country''s biggest food and department store network. Initially, Wal-Mart will acquire 31 stores, while the remainder of Trust-Mart''s stores will be bought over the next three years.
Ivaylo
17 Oct, 2001
New York City
Stock markets in Japan and South Korea declined on Tuesday as investors cashed in recent advancers such as Honda Motor Co. and Toyota Motor Corp. A stronger yen also helped as well as growing worries over North Korea nuclear scare and upcoming Asian earnings. A jump in crude oil prices overnight weighed on airlines and rubber companies in Japan. Markets in Seoul fell after hitting an intraday low on local news reports that North Korea may be preparing for another nuclear test.
Ivaylo
17 Oct, 2001
New York City
European stocks traded lower on Tuesday morning after higher oil prices weighed down auto and transport stocks such as DaimlerChrysler and as investors sold shares in luxury goods retailer LVMH and drug maker Roche Holdings after sales figures were posted. Oil prices were also in focus, lending support to commodity stocks. By mid morning, the FTSE 100 in London slipped 0.2%, Frankfurt Xetra Dax shed 0.8%, and the CAC 40 in Paris lost 0.7%.
Ivaylo
17 Oct, 2006
New York City
The stage for this was set by the weekend resolution on North Korea, even though it was not really an important imposition of sanctions. But the fact the Security Council did pass a resolution suggests the situation is quite serious. The strength of the euro against the dollar also added to the rise of gold as it is traditionally regarded as a hedge against inflation.
Elena
16 Oct, 2006
New York City
European stock markets finished higher, supported by gains for oil and technology companies which helped offset weakness sparked by disappointing earnings for Philips Electronics. Shares of BP advanced 1.4%, while miner Lonmin gained 4.1%. Infineon Technology rose 2.1% after Deutsche Bank upgraded its stock. The German DAX 30 closed up 0.2%, the French CAC 40 rose 0.2%, and London FTSE 100 gained 0.3%.
Elena
16 Oct, 2006
New York City
U.S. stocks rebounded from earlier declines as gains for Alcoa and IBM helped the Dow recover from early weakness caused by broker downgrades. Alcoa rose 1.9% after Prudential Equity Group raised its rating on the aluminum maker and its Canadian rival Alcan Inc. to overweight from neutral.
Elena
16 Oct, 2006
New York City
The bencmark index has gained almost 5% over the past three days supported by hopes of strong quarterly results, upbeat sentiment in Asian markets and foreign funds inflow. The rally today was range-bound, though, as the market-breadth once again remained weak. It seems that the earnings seasons draws the all the attention to large-caps. Private banks led the advance, with HDFC Bank in the lead. Reliance Industries also contributed to the rally. Auto and refinery stocks led the decliners.
Elena
16 Oct, 2006
New York City
Stocks markets started trading below the unchanged mark before a new batch of earnings reports, expected to give some clarity how companies are coping with a slowing economy. The Dow was dragged by downgrades of Home Depot and General Electric. However, shares of chip maker Intel Corp. advanced 2%, providing support to technology shares. The disk drive sector gained, with SanDisk, up 5.2% and Msystems, rising 4.7%.
Ivaylo
16 Oct, 2006
New York City
The bank was in the focus of media attention over the weekend as speculation arose that it had rejected an approach for its Scottish Widows life assurance arm. Miners also supported the benchmark index on Monday afternoon, while upbeat broker comment has helped oil large-caps offset drifting crude prices. The FTSE 100 topped another five-year high, to 6,178.3, its highest level since June 2001.
Elena
16 Oct, 2006
New York City
U.S. stock futures slightly advanced Monday with investors focused on quarterly earnings, expected to determine whether the last-week rally would be extended or not. Wachovia Corp. posted Q3 profit rise of 13%, helped by higher fees and lending income. Net income rose to $1.17 per share, up from $1.06 per share, a year ago. Mattel, the No. 1 U.S. toy maker, said Q3 earnings rose 6%, lifted by 7% sales rise. Net income increased by 62 cents per share, up from 55 cents per share
Elena
16 Oct, 2006
New York City
The company will supply aerospace titanium mill products including ingot, billet, bar, rectangle, plate and sheet. The deal is expected to generate revenue of approximately $2.5 billion for the period starting from 2007 and ending in 2015 at base prices.
Ivaylo
16 Oct, 2006
New York City
The benchmark index Nikkei 225 in Japan advanced to a fresh five-month high, adancing nearly 1%. The Composite Stock Price Kospi Index in Seoul gained 0.6% as the imposition of sanctions on North Korea helped remove some the short-term uncertainty. Hong Kong also edhed higher, tracking U.S. market and the market in Taiwan ended higher as tech stocks gave shares a boost.
