Ivaylo
26 Sep, 2006
New York City
Export-related stocks and techs shares pushed Asian markets down on Tuesday. The rebounding oil prices fueled worries that a slowdown in the U.S. would weigh on corporate profits. The Nikkei 225 Average dipped, ignoring a change in political leadership after incoming Prime Minister Shinzo Abe revealed the first details of his new Cabinet. Singapore and Australia bucked the downtrend and advanced.
Ivaylo
26 Sep, 2001
New York City
European stocks advanced Tuesday on positive sentiment coming from U.S. markets, while shares of Europe leading utilities moved higher after Acciona interfered into the bid war for Endesa. By mid morning, European markets had extended their gains following Ifo business confidence data in Germany that came in line with expectations. London FTSE 100 gained 0.7%, while Frankfurt Xetra Dax added 0.6% and the CAC 40 in Paris climbed 1%.
Ivaylo
26 Sep, 2006
New York City
The energy sector has taken a lot of the inflation fears out of the market as oil was below $60 earlier in the session and took the metals down with it. However, after trading to a 10-month low overnight, November crude oil had surged back to $62 as gold was closing. Some of the strength in the copper, gold and silver is all related to the turnaround in the oil markets.
123jump.com Staff
25 Sep, 2006
New York City
Market averages rebounded in the afternoon trading to the high for the day. Tech stocks led the charge with Apple and semi-conductor stocks gaining up more than 3%. Existing home sales fell 0.5% to an annual rate of 6.3 million and median home price fell to $225,000 in August. The fisrt median home price decline in ten years. Class action status was awarded to a light cigarette case by a U.S. federal court judge. Indexes rose despite 4% decline in Altria, parent of Philip Morris USA.
Elena
25 Sep, 2006
New York City
European markets closed mixed Monday, reflecting sharply lower crude oil futures. Continuing consolidation in the pharmaceutical sector provided some help. The German DAX 30 gained 0.3%, boosted by automakers like BMW and Volkswagen which rose 1% on weak oil prices. The French CAC 40 added 0.1%, while London FTSE 100 slipped 0.4%, dragged by weak commodities futures.
Elena
25 Sep, 2001
New York City
Stocks lost direction, hurt by existing home sales data, showing that sales fell to a seasonally adjusted annual rate of 6.30 million units, slightly down from expectations. The National Association of Realtors reported that the median home price for August was $225,000, compared with a revised $230,000 in July, marking the fist median price decline since 1995. The drop was the second-biggest in the survey''s 38-year history.
Elena
25 Sep, 2006
New York City
The impending expiry of September derivative-contracts on Thursday swayed traders away from buying stocks. Selling was seen in consumer goods and IT stocks. Metal and oil & gas stocks witnessed buying interest. Tata Steel led the advancers, together with Bharti Airtel, Tata Motors, HDFC Bank and Reliance Industries. Grasim led the decliners. India will soon have its first home-grown CDMA handset maker following a licensing deal announced Monday with Qualcomm Inc.
Elena
25 Sep, 2006
New York City
Among early movers, Warrior Energy Services Corp. surged 67% after Superior Energy Services agreed to buy it for $175 million in cash and 5.3 million Superior Energy common shares. Walgreen Co. fell 2.5% after reporting Q4 net income rose on higher sales. The drug store operator said it earned 41 cents a share compared to 32 cents a share last year, meeting expectations.
Ivaylo
25 Sep, 2006
New York City
Initial weakness across mining stocks and a surprise placing in Wolseley held the benchmark index up on Monday, offsetting gains in the pharma sector. SSL International drew the attention in London on Monday amid talk of a imminent takeover approach. The company rose on speculation that Procter & Gamble of the US was about to table a bid. The FTSE was 7.9 points higher at 5,830.2 by mid-day on Monday.
Elena
25 Sep, 2006
New York City
U.S. stock market futures recovered from Friday''s losses, boosted by retreating crude oil prices. Corporate news at Hewlett-Packard also contributed to the positive mood. The company is expected to be in the spotlight again after announcing late Friday that CEO Mark Hurd will take on Patricia Dunn''s role as chairman.
Elena
25 Sep, 2006
New York City
The deal is the third multibillion-dollar takeover in the European pharmaceutical industry for the past few days. Bid offers by Germany''s Merck KGaA to buy Swiss Serono for $13.3 billion, and Denmark''s Nycomed to buy the pharmaceutical operations of Germany''s Altana for $5.8 billion have helped to lift the price of Schwarz Pharma.
Ivaylo
25 Sep, 2006
New York City
Asian stocks were mixed Monday, with indexes recovering in afternoon trading after upbeat Japanese vehicle-export data boosted shares of Toyota Motor Corp. and its peers. Hong Kong dropped while Australia benchmark index edged higher. The Weighted Index in Taiwan advanced, while shares listed in Singapore and Malaysia traded flat. Morgan Stanley warned that the Hang Seng Index could be hurt by insufficient liquidity during the runup to Industrial and Commercial Bank of China IPO.
Ivaylo
25 Sep, 2001
New York City
Oil dropped below $60 a barrel after BP announced on Friday it will raised production from its giant Prudhoe Bay oil field in Alaska to near full capcity in about a week, after obtaining approval from US pipeline regulators. A continuation of health-care sector consolidation including Schwarz Pharma climbing after a deal to be bought by UCB also buoyed the markets. The FTSE 100 in London added 0.4%, while the Xetra Dax in Frankfurt was up 0.9% and the CAC-40 in Paris rose 0.7
Ivaylo
25 Sep, 2006
New York City
On the NYME, gold continues to take cues from the U.S. dollar and fluctuating oil prices. During the session the contract reached a weekly high of $598 an ounce but faced strong resistance up to the psychologically important $600 level. The short-term gold remains within the $570-$595 range and will continue to take cues form the dollar and oil prices.
123jump.com Staff
22 Sep, 2006
New York City
Market averages fell as oil rose, bond market advacned and metals prices rose during the day. For the second day of the week in a row market worried on the possibilities of economic slow down. European and Latin Markets fell on the weakness in the trading in New York. Retail, tech and bio tech stocks sold-off. Latin American ADRs traded lower and European mining stocks retreated.
