Elena
06 Sep, 2006
Mumbai
The Sensex reached four-month high, as the turnover on BSE and NSE rose sharply today. The benchmark index, however, erased some of the gains in late trading, as traders took profit. Metals, capital goods, oil and gas and pharma stocks gained, while autos and banking stocks lost. L&T, Reliance Energy, Bharti Airtel led the advancers, ONGC and HDFC Bank lost the most. Reliance Telecom opens iternational high speed Internet bandwidth spanning all the way to Egypt.
Elena
06 Sep, 2006
New York City
Labor cost growth was revised up to 4.9% compared to the preliminary reading of 4.2% growth. Second-quarter productivity was revised to 1.6%, up from the 1.1% level reported a month ago. However, Ford Motor Co. helped to limit the downward trend, rallying 2.3% on news that it had hired former Boeing executive Alan Mulally to run the company.
Elena
06 Sep, 2006
New York City
U.S. stock market futures indicated a weak opening on Wednesday amid Intel Corp.
Elena
06 Sep, 2006
New York City
Bertelsmann''s chief financial Thomas Rabe said the sale of the unit will help pay back the $5.76 billion of debt raised to finance the buyback of the 25% stake in the company held by Groupe Bruxelles Lambert. Bertelsmann expects that the sale will increase net income by approximately $1.28 billion.
Ivaylo
06 Sep, 2006
New York City
Asian shares finished mostly lower Wednesday, as Japanese stocks were hit by profit-taking, and HSBC Holdings pushed Hong Kong stocks lower on worries index funds will sell the bank ahead of a change in the Hang Seng Index. Australia declined too after the government released figures showing the economy had grown at a slower pace than expected in the second quarter. Shanghai Composite Index bucked the downtrend and closed higher.
Ivaylo
06 Sep, 2006
Frankfurt
The auto segment slipped after a leading broker turned neutral on the sector, and due to the dull U.S. trading overnight. Losses were cushioned, however, by a number of positive earnings reports and oil prices falling back below $69 a barrel. The U.K. FTSE 100 index shed 0.2%, the German DAX Xetra 30 index lost 0.2%, the French CAC-40 index declined 0.1%.
Ivaylo
06 Sep, 2006
Metals
Reports that production of gold is shaky at best is invigorating the bullion market exactly on the threshold of the approaching Indian wedding season. Gold still has some repair work to complete and will need to overcome resistance around the mid-$600 level in order to attempt subsequent hits at $680 or higher.
123jump.com Staff
05 Sep, 2006
New York City
Intel announced much rumored restructuring and said that it plans to lay-off 10,500 people. Most of the job losses will be in marketing, management and information technology areas. The company also plans to avoid spending $1 billion in capital expenditures.
123jump.com Staff
05 Sep, 2006
New York City
Market averages on the first day of trading this week are struggling with less than two hours of trading left. Oil traded lower and gold gained $13 on renewed buying in Asia and Middle East. Hershey fell nearly 5% on lowered rating by J P Morgan and Redback Networks lost 14% on downgrade by UBS.
Elena
05 Sep, 2006
Frankfurt
European markets closed in the negative influenced by a choppy trading on Wall Street after an extended holiday weekend. The oil-services sector was in focus after France''s Compagnie Generale de Geophysique agreed to buy U.S. Veritas for $3.1 billion. The French CAC 40 was the biggest decliner, falling 0.6%, followed by the German CAX 30, down 0.4%, and London FTSE 100, down 0.1%.
Elena
05 Sep, 2006
New York City
Illinois Tool Works Inc. agreed to acquire Click Commerce Inc. for a total of $292 million. Illinois Tool Works offered to buy the outstanding shares of Click Commerce for $22.75 each, representing a 27% premium over Friday''''s closing price of $17.95 on the Nasdaq.
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Elena
05 Sep, 2006
Mumbai
A mixture of oil price fall and a surge in global markets made the Sensex surge on Monday. The market was also brightened by the finance ministry statement on the issue of participatory notes. In the session today the market traded in a narrow range, retreating in the fternoon trading. ONGC advacned 1.3% after company engineers postponed strike by three-weeks.
Elena
05 Sep, 2006
New York City
Stocks opened lower Tuesday as investors turned to profit taking. With no economic data due out, a fairly light volume session is expected. Chevron added 1.1% after it announced the discovery of a major new oil source. Caterpillar shares rose 1.3% after the company said it would be raising machinery and engine prices from January 2007.
Elena
05 Sep, 2006
New York City
U.S. stock futures recovered from earlier declines to move slightly higher Tuesday as another drop by crude oil futures provided a boost to market sentiment. In corporate news, Viacom named insider Philippe P. Dauman, as president and CEO after Tom Freston resigned his positions with the company.
Elena
05 Sep, 2006
New York City
The deal indicates a premium of 35% over the average closing price of Veritas for the 30 days ended on Aug. 29, which was $55.69. Holders can choose cash or stock, subject to a 51% stock, 49% cash split, the companies said. The deal is expected to close around the end of 2006.
