Elena
27 Sep, 2006
New York City
Stock markets opened in the negative reflecting a weak durable-goods report that revived fears of slowing economy. An advance by oil prices further undermined sentiment. Shortly after opening hours, stocks turned flat to higher to enter the positive territory after the Commerce Department said that new home sales rose 4.1% in August, their biggest increase in five months.
Ivaylo
27 Sep, 2006
New York City
Leading stocks traded in positive territory at midday, bolstered by advances across the mining sector, while expectations of a renewed bid approach for EMI from Warner Music was adding to the pervading optimism. The market was also assisted by continued strength across the Atlantic, expected to open higher again today. By mid-day, the FTSE 100 index was up 53.6 points at 5,927.2, with only UK small caps in the red.
Elena
27 Sep, 2006
New York City
Stock market futures turned lower Wednesday, erasing earlier gains with the Dow nearing a new all-time high. Market sentiment was hurt by an unexpected decline in orders to U.S. factories for big-ticket manufactured goods. The Commerce Department reported that durable goods orders dropped 0.5% last month to $209.7 billion, reflecting a decrease in demand for computers and other electronic products.
Elena
27 Sep, 2006
New York City
E.On upped its all-cash offer for Endesa to 35 euros a share vs. a previous bid of 25.40 euros a share. The company''s move comes after Acciona disclosed Monday that it bought a 10% stake for 32 euros a share, suggesting that the Spanish government was urging the conglomerate to buy a stake in order to keep Endesa out of German reach.
Ivaylo
27 Sep, 2006
New York City
Japanese and Australian stocks led a sharp advance in Asian markets on Wednesday, as investors bought consumer, banking and commodity stocks with sentiment improving after a sharp rally on U.S. markets overnight. Japanese stocks soared in the wake of the election of the new government. Hong Kong advanced as dropping U.S. bond yields helped lift demand for local and Chinese banking and property companies.
Ivaylo
27 Sep, 2006
New York City
A return to gains in the mining sector and the bid for Spanish utility Endesa by E.On buoyed European stock markets to advance in early trading Wednesday. The mining companies strong cash generation raises the prospect of higher dividends or further buybacks and M&A, which is believed to support a recovery in the shares. The U.K. FTSE 100 index rose 0.6%, the German DAX Xetra 30 index rose 0.5% and the French CAC-40 index climbed 0.5%.
Ivaylo
27 Sep, 2006
New York City
There was a little bit of a rally, even though the dollar was up. But gold futures just moved to the top of the range. The market was trading down to support the gold prices just above the $590 area, then bounced off, from a technical perspective. A little buying come into that price level, and that created a little short covering.
123jump.com Staff
26 Sep, 2001
New York City
Traders rushed to buy stocks as regional economic report showed higher degree of manufacturing activity and consumer confidence report noted rising level of confidence. Metals priced gained but by a fraction. European markets rose on telecom and mining stocks. Latin Markets surge was led by 2.5% rise in Brazil. Lennar warned that fourth quarter earnings will be lower than expected and Lowes lowered earnings forecast for the year. S&P 500 surpassed high of February 2001.
Elena
26 Sep, 2006
New York City
European markets closed at a four-month high on the back of strong technology and resource stocks. Positive mood on Wall Street and a decline by the euro also contributed to the upward move. The French CAC 40 was the leading gainer, rising 1.4%, followed by London FTSE 100, up 1.3% on strong commodities-related stocks. The German DAX 30 rose 1%, boosted by tech shares like chipmaker Infineon Technologies and software maker SAP.
Elena
26 Sep, 2006
New York City
Better-than-expected improvement of consumer confidence index for September helped stocks move higher. The Conference Board said that consumer confidence rose to 104.5 from a revised reading of 100.2 in August, exceeding forecasts of a rise to 103. Following the confidence data, home improvement stores Home Depot Inc. and Lowe''s Cos. gained 1% and 1.5% respectively.
Elena
26 Sep, 2006
New York City
The market traded in a narrow range until early afternoon trading and climbed later aided by upbeat European markets.Banking, auto and IT stocks, muted until then surged. Short covering ahead of Thursday this week in derivatives contracts supported the rally. SBI led the gainers with 3% jump. A bank official with SBI said that interest rates in the country were softening but it was too early to say whether the trend would continue.
Elena
26 Sep, 2006
New York City
U.S. stocks started trading mixed, awaiting data expected to show an improvement in consumer sentiment, but a profit warning from home builder Lennar Corp. built on worries about a slowing housing market. The tech-heavy Nasdaq declined, with Apple, Dell, and Cisco Systems contributing to the weakness. PMC-Sierra dropped 8% after the chip maker warned its sales would fall short of its expectations.
Ivaylo
26 Sep, 2001
New York City
Hanson was the leading advancer in London on Tuesday as takeover rumours hit new heights. Bid speculation has continued to surround the group, with Cemex, the Mexican cement giant that owns RMC, seen as a leading suitor. The other bid story today concerned Amvescap, as talk of a takeover sent its higher. By mid-day, the FTSE 100 advanced 43 points, or 0.75, to 5,841.3.
Elena
26 Sep, 2006
New York City
Stock futures moved higher Tuesday, with investors optimistic about the consumer confidence growth, helped by a decline in energy prices. Home builder Lennar reported a 39% profit drop in the most recent quarter, and warned its Q4 earnings would range between $1 and $1.30 a share, well below expectations of $1.60.
Elena
26 Sep, 2006
New York City
Lowe
