Elena
09 Aug, 2006
Mumbai
Concerns of increase in domestic interest rates lessened after the Fed move. It is likely that the Fed decision to keep US interest rates steady, may discourage Reserve Bank of India from hiking the interest rates further in the near term. Bank shares jumped, following the Fed move. Auto, IT, metal and pharma stocks advanced.
Elena
09 Aug, 2006
New York City
Stock markets opened higher, led by technology stocks, with Cisco moving 12.7% higher after the technology bellwether reported better-than-expected Q4 earnings and provided upbeat guidance. Housing stocks came under pressure after luxury homebuilder Toll Brothers announced preliminary Q3 results, reporting a decline in home building revenues due to lower unit volumes.
Elena
09 Aug, 2006
New York City
Stock futures jumped after network equipment maker Cisco Systems rose 9.4% on stronger-than-expected quarterly results and positive outlook. Media conglomerate Disney beat estimates reporting net income growth of 53 cents per share, compared with 39 cents last year due to improved sales and one-time gain related to its acquisition of Pixar Animation Studios.
Ivaylo
09 Aug, 2006
New York City
The Japanese government said mid-day Wednesday that core private-sector machinery orders rose 8.5% in June compared to May, and 17.7% on year, indicating that the industrial part of the economy is in very good health, particularly the export side of the economy. Hong Kong rallied late, as market large-cap China Mobile advanced. In South Korea, the Kospi index finished also higher.
Ivaylo
09 Aug, 2006
Frankfurt
The Fed held rates for the first time in two years at 5.25%, but left the door open for further rises saying it still saw risks from inflation. U.S. markets reacted negatively to the Federal Reserve
Ivaylo
09 Aug, 2006
Metals
Many precious metals were noot expected more than a short-term and possibly subdued reaction from gold once the Fed decision was made public. Factors such as the conflict between Israel and Hezbollah, the developing civil war in Iraq, the absolute intractability of Iran, and the prospects of $4 per gallon gasoline being just around the corner are certainly posing more of a challenge to asset allocators than what may well be the last in a series of interest rate hikes.
123jump.com Staff
08 Aug, 2006
New York City
As market reached close Dow lost 58.91 points, Nasdaq was down 13.35, and S&P declined 5.51. Stocks fell after the Federal Reserve left interest rates unchanged. This is the first pause in more than two years. Direct TV reported Q2 earnings of 36 cents a share, almost tripling, compared to 12 cents a share a year ago. Clear Channel posted Q2 earnings of 39 cents a share compared to year-ago earnings of 40 cents a share. Oil declined 67 cents to close at $76.31.
Elena
08 Aug, 2006
Frankfurt
European markets closed mixed in a light trading session ahead of U.S. Fed Reserve
Elena
08 Aug, 2006
New York City
Jack in the Box rose 7.7% after reporting Q3 net income climbed to 77 cents a share from 66 cents a share on higher revenue, beating estimates. Reynolds & Reynolds jumped 11% after it agreed to be acquired by privately Universal Computer Systems Inc. for $2.8 billion. Aleris surged 28% as it agreed to be bought by private equity firm Texas Pacific Group for $1.7 billion in cash plus the assumption of $1.6 billion of debt.
Elena
08 Aug, 2006
Mumbai
The Indian index settled above the psychological 11,000 level for the first time in three months on strong buying in large-cap. Reliance Indsutries, banking stocks and IT stocks led the Sensex jump of over 200 points. Strong Asian markets also gave the market a boost. Tyre shares were in focus aslo, as natural rubber prices dropped in domestic and international markets. The rally was spread evenly over small-cap and mid-cap stocks, resulting in a strong market-breath.
Elena
08 Aug, 2006
New York City
U.S. stocks opened higher on optimism the Fed Reserve will keep its key interest rate steady at 5.25%. In earnings news, Sara Lee Corp, consumer products company, reported it swung to fiscal Q4 net income of 1 cent a share from a year-ago loss of 19 cents. Contact lens maker Bausch & Lomb said it will delay filing its Q2 earnings report and warned that its full-year profits could fall well below estimates.
Elena
08 Aug, 2006
New York City
U.S. stock futures gained on expectations the Fed Reserve will hault its run of interest-rate hikes. However, a report showing unit labor costs increased more than expected in Q2 helped limit early gains. In earnings news, Polo Ralph Lauren reported Q1 net income rose to 74 cents a share from 48 cents a share in the year-ago period.
Elena
08 Aug, 2006
New York City
The deal is expected to be completed early next year. Under the terms of agreement Aleris stockholders will receive $52.50 for each common share, a premium of nearly 27% to Aleris''s Monday closing price of $41.39.
Ivaylo
08 Aug, 2006
New York City
Japan dropped more than 2% Monday on concerns over rising oil prices and uncertainty about the direction of U.S. interest rates.But markets have already discounted the oil price and even $80 a barrel would be tolerable to the region. Japanese stocks also got a boost from government data released Tuesday showing that bank lending grew at the fastest rate in at least five years. Hong Kong also gained as telecom, property and energy shares all put in a strong showing.
Ivaylo
08 Aug, 2006
Frankfurt
US oil declined slightly and ICE Brent slid from a new record-high as traders booked profits. Oil had jumped 3% after BP started to shut down Prudhoe Bay oilfield in Alaska, the biggest in the United States, possibly for months. The FTSE 100 in London was 0.2% higher, the Xetra Dax in Frankfurt nudged up 0.8% and the CAC-40 in Paris advanced 0.5%.
