Ivaylo
01 Sep, 2006
Frankfurt
European stocks reported modest gains on Friday ahead of key U.S. economic data, supported by strength in the health care sector after French drug maker Sanofi-Aventis won a patent case for its Plavix blood thinning treatment. The U.K. FTSE 100 index edged up 0.2%, the German DAX Xetra 30 index rose less than one percentage point and the French CAC-40 index gained 0.2%.
Ivaylo
01 Sep, 2006
Metals
In the case of silver, investors attributed the surge to strong investment demand a day after the amount of metal held by an exchange-traded fund peaked above 100 million ounces. Gold followed, supported by both silver and a sharp gain in copper. Continuing tension over nuclear program of Iran was another factor boosting the precious metals.
123jump.com Staff
31 Aug, 2006
New York City
Weak trading volume, directionless trading in averages and report on factory orders and inflation dominated the news in the market. Personal income in July rose 0.5% and personal consumption rose 0.8% in the month. PCE, price index for consumption rose 0.1% in July. Factory orders fell 0.6% in the month. Joy Global stock jumped 21% on earnings news. Same store sales were reported higher by Target, Wal-Mart and Nordstrom. Gap, Sharper Image and Pier One reported another decline in sales.
123jump.com Staff
31 Aug, 2006
Metals
Goldcorp agreed to acquire Glamis for $8 billion. The deal between the two companies is a latest in a series of deals in the mining industry. The deal follows a deal between Barrick Gold and Placer Dome and two bids in place for Inco. Gold futures are trading $621 per ounce. The company may spin-off silver assets.
123jump.com Staff
31 Aug, 2001
New York City
Joy Global reported 17% rise in sales and third quarter earnings of $1.53 per share. The company guided a strong outlook in the mining equipment in copper, coal and iro ore. The stock jumped 17% and lifted shares of Terex and Manitowoc. Company sees no peak in demand for its equipment in the near future.
Elena
31 Aug, 2006
Frankfurt
European markets closed under the flat line. In a light trading session market sentiment was hurt by speculations that the ECB will raise interest rates in a month after it kept them on hold at 3%, as expected, on Thursday. Mining and tech stocks like Anglo American and STMicroelectronics led decliners. The U.K
Elena
31 Aug, 2006
New York City
The Department of Commerce reported that orders for manufactured goods fell 0.6% in July following an upwardly revised 1.5% increase in June. Economists had expected orders to fall 0.8%. The drop in factory orders was due to a 2.5% decline in manufactured durable goods in July following a 3.3% increase in June.
Elena
31 Aug, 2006
Mumbai
The news that the Stock Holding Corporation of India has sent letters to brokers demanding cash instead of shares to substitute in the futures and options segment which had a negative effect on the market effectively pushing it down in the latter part of the trading session. The market-breadth was negative. ITC, HDFC Bank, Reliance Petroleum and Tata Power led the advancers, while Gujarat Ambuja led the decliners. Telecom Regulatory Authority sets 5 rupees per cable for three largest cities.
Elena
31 Aug, 2006
New York City
Stocks opened higher, boosted by news of higher consumer spending, fewer jobless claims and solid retail sales. Wal-Mart Stores reported same-store sales at its U.S. same-store sales advanced 2.7% in August, exceeding estimate for an increase of 2.5%. Federated Department Stores reported that same-store sales rose 3.8%, missing analyst expectations for it to post a same-store sales gain of 4%.
Elena
31 Aug, 2006
New York City
Stock futures rose Thursday after data showed a weaker-than-expected rise in a key inflation gauge. The Department of Commerce released a report that showed increases in both personal income and spending in July came in line with economist estimates. Personal income rose 0.5%, while personal spending rose 0.8%. Core consumer inflation rose 0.1% in July, the smallest gain since December and less than the 0.2% gain expected by economists.
Elena
31 Aug, 2006
New York City
Among the companies releasing upbeat results, Mothers Work Inc. posted a 5% increase in August comparable store sales, while Bebe Stores said same-store sales rose 12.5%, exceeding estimates of 11.4% increase. Limited Brands also topped estimates reporting same-store sales growth of 9%. Pier 1 Imports posted a 9.1% drop in August same-store sales.
Ivaylo
31 Aug, 2006
New York City
In Japan, stocks got a boost from broad gains in technology and blue-chip stocks like Toshiba and Canon. Hong Kong advanced as gains in U.S. markets and hopes for a pause in interest-rate hikes lifted investor sentiment. In South Korea, shares were led by brokerage stocks which advanced on rising trading volume. China, Taiwan and Australia also gained.
Ivaylo
31 Aug, 2006
Frankfurt
Oil prices have recovered to settle above the key $70 a barrel line despite far better than expected inventory data out of the US, mainly on the back of uncertainty over supplies as the UN deadline for Iran to suspend nuclear activities has now been reached. The FTSE 100 in London shed 0.1%, the Xetra Dax in Frankfurt edged down 0.1%, and the CAC-40 in Paris sank 0.2%.
Ivaylo
31 Aug, 2006
Metals
While gold and silver advanced on Wednesday, with regard to copper traders were awaiting news about the ongoing strike at Chilean copper mine Escondida throughout the session. The strike, now into its 24th day, has cut copper concentrate production by 50% at the mine.
123jump.com Staff
30 Aug, 2006
New York City
Market averages gained a fraction at close on light trading. Averages meandered for the most of the day. Second quarter GDP was revised to 2.9% from 2.5% for Spring quarter. Inventory led manfacturing helped the GDP growth. Costco lowered earnings target. European markets closed higher but Latin American markets closed mixed. Asian markets were lied by higher by Taiwan and Hong Kong. Oil rose but traded lower. Altria raised dividend 7.5% to 86 cents a share.
