Elena
21 Sep, 2006
New York City
U.S. stock futures indicated a higher market opening, lifted by strong earnings, lower oil prices and unchanged key interest rates. ConAgra Foods posted higher-than-expected earnings, despite a profit drop because of higher energy and ingredients expenses. Transportation company FedEx reported strong revenue and earnings growth. Shares in the company rose 0.4% before the bell.
Elena
21 Sep, 2006
New York City
Merck said it agreed to buy the Bertarelli family''s 64.5% stake in Serono for 1,100 Swiss francs a share and will launch a public offer for the outstanding shares at the same price. The offer is at a 20% premium to Wednesday''s closing price of 915 Swiss francs a share.
Ivaylo
21 Sep, 2006
New York City
Asian markets advanced modestly on Thursday as some exporters, including Honda Motor, made gains from a rise in Japan trade surplus and the U.S. Federal Reserve decision not to hike interest rates, while China Mobile helped push Hong Kong to a six-year high. Also, Japanese stocks recovered from Wednesday lows, led by oil-sensitive rubber and automobile stocks owing to an overnight decline in oil prices.
Ivaylo
21 Sep, 2006
New York City
The fact that German pharma company Merck has agreed to obtain a majority stake in Serono and the bid speculation in the Spanish property sector boosted Eurpean markets on Thursday. After a difficult morning, the FTSE climbed out of early losses as gains in the mining sector offset a slide in oil stocks. The FTSE 100 was up 0.31% at 5,873.6, while the German Xetra Dax added 0.2% and the French CAC 40 gained 0.2%.
Ivaylo
21 Sep, 2006
New York City
The U.S. Federal Reserve later held interest rates steady a second straight time. The FOMC voted 10-1 to keep the federal funds rate at 5.25%. Some of the negative sentiment on the metals in overnight trade was countered by a little bit of physical dealing. Gold and silver had retreated in overnight screen trading. Copper advanced slightly.
123jump.com Staff
20 Sep, 2001
New York City
Federal Reserve left targeted discount rate unchanged to 5.25%, as widely expected. Ten of the eleven members of the committee voted in favor leaving the rate unchaged for the second time in a row. Fed refrenced to declining energy prices since August will help consumers in the accompanying notes and also noted that inflation pressures remain at elevated levels. Oil dropped 2%.
Elena
20 Sep, 2006
New York City
European markets closed steeply higher as software company SAP and supermarkets Ahold and Delhaize lifted buying interest. A notable decline by crude oil prices helped airline stocks move higher. The German DAX 30 surged 1.4%, helped by SAP and tire maker Continental. The French CAC 40 rallied 1.5%. London FTSE 100 advanced 0.5%, supported by hedge-fund operator Man Group.
Elena
20 Sep, 2006
New York City
Stock averages rallied ahead of Fed Reserve''''s decision on interest rates. The S&P 500 hit a new 5 1/2-year high as upbeat results at Oracle Corp. and Morgan Stanley boosted investor confidence before the third-quarter earnings season. Boeing rose 1.6% on a news report that a consortium led by the aerospace giant appeared as the winner of a federal contract to provide infrastructure and monitoring system to help improve U.S. border security.
Elena
20 Sep, 2006
New York City
Despite tumbling over 100 points at the start, the benchmark Sensex recovered in later trading due mostly to the fall in crude oil price and the expectations that RBI may keep interest rates unchanged at its credit policy next month. Cellular services providers, auto stocks and consumer products companies were in focus. Bharti Airtel, Reliance Comms, ONGC and HDFC led the advancers. HDFC Bank and BHEL led the decliners.
Elena
20 Sep, 2006
New York City
The three major averages opened higher, rebounding from losses yesterday. The Nasdaq showed a particularly strong upward move, lifted by the software sector with Oracle rising 11.5% after reporting better-than-expected Q1 earnings growth. The brokerage sector also gained, with Morgan Stanley helping to lead the sector higher, posting an advance of 1.2%.
Ivaylo
20 Sep, 2001
New York City
Traders expect the Fed announcement to keep interest rates unchanged, but to provide a guidance on future policy. The minutes of the last meeting indicated that the Fed would remain ultra vigilant on data. The plunge in energy prices since the last FOMC meeting will no doubt be referred to as it supports growth. Banks were among the strongest performers, while Mining stocks were among the main decliners. The FTSE 100 was up 0.17% by mid-day.
Elena
20 Sep, 2006
New York City
A six-month low by crude oil futures and better-than-expected quarterly results at Oracle and Morgan Stanley helped generate positive sentiment too. Morgan Stanley, the largest U.S. investment bank, rose 2% before the opening bell after it said earnings from continuing operations and excluding items rose 59%.
Elena
20 Sep, 2006
New York City
The software giant said net income was a record $670 million, or 13 cents a share, compared with $519 million, or 10 cents a share last year. The upbeat quarterly results were largely attributable to the $20 billion acquisition spree of the company.
Ivaylo
20 Sep, 2006
New York City
Several banks started considering lowering the credit rating of the country, including Standard & Poor''s Ratings Services. Some analysts, though, predicted that the coup impact may be limited and possibly even wrench Thailand out of the political crisis. Concerns about the coup contributed to declines on Asian markets as investors recalled how a slump in the Thai baht in 1997 sparked a crisis in emerging markets in Asia and around the world.
Ivaylo
20 Sep, 2006
New York City
The meeting of the U.S. Federal Reserve interest rate setting committee scheduled for later in the day and the military coup in Thailand, which triggered overnight losses in Asian markets accounted for the hesitant start of European stocks, although gains from software firm SAP and supermarkets Ahold and Delhaize offered indexes some respite. The U.K. FTSE 100 index edged down less than 0.1%, while the German DAX Xetra 30 index advanced 0.3% and the French CAC-40 index increased 0.2%.
