Ivaylo
19 Dec, 2006
New York City
Silver registered its weakest finishing level in seven weeks. The market is still at most risk to extend long liquidation as the dollar sentiment improved and fund players positioned long ahead of year-end, and the market set to weaken over the next two weeks over the Christmas/New Year holiday period. Gold seems to be incredibly oversold on the fascination of market with exchanging paper assets.
123jump.com Staff
18 Dec, 2006
New York City
Mergers worth $70 billion ruled the trading sentiment today. Stat Oil agreed to purchase off-shore exploration unit of Norsk Hydro forming the fourth largest energy company in Europe. Caremark surged 10% after getting a higher bid from Express Script. Realogy rose 20%, owner of Century 21 and Coldwell Bankers, jumped on a bid from Apollo Management. Harrahs gained on a higher offer of $16.7 billion. Joy Global reported 60 cents per share, stock up 8%. Goolge dropped on valuation worries.
Elena
18 Dec, 2006
New York City
European stocks finished largely in the negative on Monday, despite gains from the energy sector on the back of a big merger deal in which Norwegian Statoil agreed to buy the oil and natural-gas division of Norsk Hydro. Regional markets declined amid weakness in the mining sector and heavy losses for British companies BT Group and Tate & Lyle Plc. The German DAX 30 added 0.1%, while the French CAC-40 index eased 0.2%, and London FTSE 100 index also closed down 0.2%.
Elena
18 Dec, 2006
New York City
U.S. stocks shot higher Monday as several multibillion-dollar merger deals and an upgrade of Citigroup provided a boost for an ongoing year-end rally. However, a decline in crude oil prices weighed on energy shares, limiting gains for the broader market. Citigroup rose 2.1% after Merrill Lynch upgraded the stock to a buy from a neutral, citing the stock''s attractive valuation.
Elena
18 Dec, 2006
New York City
A surge in Reliance Industries and strong performance by ONGC helped the benchmark index to end in positive territory for the fourth straight day. Trading was extremely volatile with a broad market-breadth as small and mid-cap stocks enjoying buying interest. ONGC was the leading advancer with Ranbaxy and Wipro following closely. BHEL led the decliners together with NTPC and Reliance Energy. Cairn India IPO at low end of the range. RBI issued new guidelines to banks for capital ratios.
Elena
18 Dec, 2006
New York City
U.S. stocks advanced at opening Monday, as a number of takeover deals raised hopes of continued corporate confidence at the end of the year. Pharmacy benefits manager Express Scripts confirmed its $26 billion bid for rival Caremark RX. In another deal, Realogy agreed to be acquired by private equity firm Apollo Group for about $6.65 billion. Dow component Citigroup rose 0.7% after Merrill Lynch upgraded its stock to a buy from neutral.
Ivaylo
18 Dec, 2006
New York City
The FTSE 100 was near a six-year high on Monday owing to strong gains for Smith & Nephew shares. Reports suggested that Smith & Nephew is still a contender in the running to buy Biomet, but is confronted by stiff competition from private equity groups. Also, BT dipped as it struggles to resolve its huge pension deficit. The FTSE 100 in London traded unchanged in mid-afternoon down 1.40 points, or 0.02%, at 6,258.60.
Elena
18 Dec, 2006
New York City
U.S. stock market futures looked ready to extend the year-end rally, boosted by takeover activity and upgrade for Citigroup. Harrah''s Entertainment is close to being sold to private equity firms Apollo Management and Texas Pacific Group for at least $90 a share. Two Norwegian oil companies agreed on a takeover deal. Statoil agreed to buy the oil and natural-gas division of Norsk Hydro in a deal that will create the world''s largest offshore operator.
Elena
18 Dec, 2006
New York City
Express Scripts, which is a small company with a market capitalization of $9.3 billion, and debt of around $1.6 billion, said it would pay $29.25 in cash and 0.426 shares in Express Scripts for each share of Caremark.
Ivaylo
18 Dec, 2001
New York City
Asian markets ended higher Monday. Japanese Nikkei 225 Index advanced on gains in exporters after the yen slipped versus the dollar, while another record finish on New York stock exchange also boosted sentiment. In Hong Kong, the Hang Seng Index egded higher by gains in large-cap China Mobile. South Korea and Australia also advanced, although miners in Australia finished lower. Shares in Taiwan, Singapore gained as well, while New Zealand bucked the overall trend and declined.
Ivaylo
18 Dec, 2006
New York City
Norsk Hydro and Statoil statement that they are to merge its oil and gas business with aided European stock markets to advance on Monday, despite downside pressure from bank and technology stocks. Carmakers also gained with Fiat, Volkswagen and Porsche jumping while BT Group and Tate & Lyle declined. By mid morning, the FTSE 100 in London was flat, Frankfurt Xetra Dax gained 0.2% while the CAC 40 in Paris retreated 0.1%.
Ivaylo
18 Dec, 2006
New York City
The declines were in line with the U.S. dollar getting ready for a weekly gain. The gold market looked vulnerable to liquidation as the dollar was overcoming its recent weakness. The mid- to longer-term expectations for gold remain upbeat due to rising investor interest and speculation of institutional dollar diversification. Copper hit a low under $3 a pound for the first time since late June as traders measured supply and demand.
123jump.com Staff
15 Dec, 2006
New York City
Benign November inflation data on Consumer Price index and core CPI sparked a wave of buying in the morning. The reported CPI and core CPI nearly unchanged supported a broad buying in financials, industrial and consumer durable sector. Gold fell $12 on inflation report but oil managed to rise. European markets closed higher on feversih takeover activities. Brazil continued to gain but Mexico settled after closing for eight records in nine days.
123jump.com Staff
15 Dec, 2006
New York City
European shares closed higher for the day and for the week on takeover rumors, restructuring news and higher energy and metals prices. Takeove rumors lifted stocks of ABN AMRO and Rentokil. France Telecom reiterated its plan to cut 17,000 staff in France by the year 2008. Austrian Bank BAWAG was sold to private equity group and media report suggested that Ahold food services may be sold for $6 billion. Tenaris gained 13% on takeover rumors. Nestle gained on the deal to buy Novartis nutrition.
Elena
15 Dec, 2006
New York City
Tame inflation in November and industrial production rise for the first time in two months boosted market averages, with the Dow hitting a record high after consumer price data signalled that the U.S. economy is maintaining growth and inflation is in check. Positive sentiment was also generated by a batch of strong earnings reports in the tech sector.
