Ivaylo
08 Aug, 2006
Metals
If the Fed pauses in its rate-raising program on Tuesday, that would cause gold prices to advance in the short-term. Hiking interest rates curbs inflation, and gold is regarded as a hedge against inflation. Silver and copper fell, while platinum and palladium and crude oil futures settled higher on the day.
123jump.com Staff
07 Aug, 2006
New York City
As market reached close Dow lost 20.49 points, Nasdaq was down 13.14, and S&P declined 3.31. Inflation worries due to record level oil prices prompted moderate declines in the market. El Paso Corp reported Q2 earnings of 21 cents a share after paying dividends compared to a year ago loss of 38 cents a share. AES Corp posted Q2 earnings of 25 cents a share compared to year ago earnings of 13 cents a share. Oil gained $2.22 to close at $76.98.
Elena
07 Aug, 2006
Frankfurt
European markets finished steeply lower Monday, reflecting a spike in oil prices and concerns over the U.S. Fed Reserve
Elena
07 Aug, 2006
New York City
Climbing oil prices weighed on market sentiment in morning trading session, pushing the stocks lower. Yet, energy shares advanced on expectations to benefit from the higher prices. Hess Corp. gained 0.6%, while Chevron Corp. climbed 0.65%. Shares of BP lost 1.8% on the Prudhoe Bay shutdown.
Elena
07 Aug, 2006
Mumbai
The Indian Sensex closed in the red for the second consecutive session in a volatile trading, characterised by record-low volumes, as investors showed a lack of interest, ahead of the meeting on Wednesday by Federal Reserve bankers to consider interest rates. ICICI Bank and BHEL led the gainers, while Hero Honda ed the decliner.
Elena
07 Aug, 2006
New York City
AES Corp. jumped 9.4% after reporting Q2 net income almost doubled to 25 cents a share from 13 cents a share a year ago on 15% revenue growth, beating estimates. Southern Union, natural gas provider, reported Q2 earnings of 8 cents a share, down from 10 cents a share a year ago, missing estimates. McDermott International, heavy construction company, reported Q2 net income drop of 40 cents a share from 75 cents last year, below expectations.
Elena
07 Aug, 2006
New York City
U.S. equity futures were sent lower by a spike in energy prices following a shutdown of a major oil field in Alaska. Crude oil September delivery jumped 2% to $76.25 a barrel. Energy company El Paso Corp. posted $141 million Q2 profit in contrast to a loss a year ago due to a 4% rise in revenue. Company''s shares rose 2.7% in pre-market trading.
Elena
07 Aug, 2006
New York City
BP has a 26% stake in the Prudhoe Bay field, meaning its own production would be cut by 100,000 barrels a day, while 400,000 barrels a day of crude oil would be taken off the world market. BP''s shares dropped 2% on the LSE.
Ivaylo
07 Aug, 2006
New York City
Japan slumped in afternoon trading, with tech exporters including Sony and Toshiba leading the market to heavy across-the board losses after the closure of a key Alaska oil field caused crude prices to soar. All major regional indexes fell, but for Hong Kong, which rose but only just. Australia also gained.
Ivaylo
07 Aug, 2006
Frankfurt
Weaker-than-expected jobs growth in the US weighed also as the focus turned from expectations the Federal Reserve would pause its monetary tightening to worries over slowing growth. The FTSE 100 declined 1%, the Xetra Dax in Frankfurt slipped 1.5% and the CAC-40 in Paris was off 1.5%.
Ivaylo
07 Aug, 2006
Metals
December gold ended down although during the session the contract hit a high of $666 an ounce following weaker-than-expected U.S. economic data, but market participants took profits ahead of the weekend. Gold keeps failing on rallies as the increased Mideast violence has been virtually ignored.
Elena
04 Aug, 2006
Frankfurt
European markets closed notably higher on easing interest-rate concerns, following weaker-than-expected U.S. jobs data and well received corporate news from Anglo-American and Philips. The German DAX 30 surged 1.5%,the French CAC 40 rose 1.2%, and London FTSE 100 gained 0.9%.
123jump.com Staff
04 Aug, 2006
New York City
Much awaited job reports failed to have impact on trading sentiment. Non-farm payroll in July rose by 113,000, just near the average of 112,000 reported in the first quarter of this year. However, unemployment rose to 4.8% from 4.6% in the previous month. Market averages trade lackluster and dipped in the last hour of trading. Apple Computer reported more stock options trouble. Toyota Motors earnings rose 39% on strong sales and weak yen.
Elena
04 Aug, 2006
New York City
OM Group Inn., producer and marketer of specialty chemicals, reported a Q2 profit jump of $1.80 a share from 40 cents a share a year ago, beating estimates. Ceradyne Inc, maker of ceramic body-armor plates, reported profit rise to $1.10 a share from 46 cents the year earlier, above estimates. Goodyear Tire & Rubber Co, manufacturers of tires and rubber products, reported Q2 earnings of 1 cent a share, down from a year-ago profit of 34 cents a share, missing expectations.
Elena
04 Aug, 2006
Mumbai
In a highly volatile session, the benchmark index sank in the closing hours of trading. Worries of surging global crude oil prices, increasing fears of $ 100 a barrel, weighed down on market sentiment. Reliance Energy led the gainers, with BHEL and Bajaj Auto also advancing. Reliance Industries fell on comments from Petroleum Minister.
