Elena
13 Jul, 2006
New York City
Stocks opened lower on surging oil prices and brokerage downgrade on Wal-Mart Stores. Positive earnings news from PepsiCo failed to lift sentiment. The beverage producer reported 16% profit rise in Q2 on 12% revenue growth. Marriott International reported Q2 net income rise of 43 cents a share from 29 cents last year on 7% revenue increase. Media company Tribune announced 62% decline in profit in Q2 due to falling newspaper circulation.
Elena
13 Jul, 2006
New York City
U.S. stock futures dropped Thursday, dragged by record-high oil prices and a brokerage downgrade of Wal-Mart Stores Inc. Merrill Lynch lowered its rating on Wal-Mart Stores to
Elena
13 Jul, 2006
New York City
Aviva will pay $69 in cash per AmerUs share, a 10% premium to the closing price of July 6, the day before Aviva confirmed they were in talks. The transaction is expected to be completed in the fourth quarter. Aviva shares fell 0.8% to 707 pence on the LSE.
Ivaylo
13 Jul, 2006
New York City
Asian stocks sank Thursday led by broad losses on U.S. markets, with exporters including Toyota Motor and Canon Inc. reporting some of the largest declines in Japan, while Shanghai shares dropped nearly 5% to lead regional losers. The Hang Seng Index in Hong Kong also fell as well as the Kospi of South Korea and Australia benchmark S&P/ASX 200.
Ivaylo
13 Jul, 2006
New York City
European markets opened lower on Thursday as investors continued to worry about the early progress of the U.S. second quarter earnings season and as crude oil prices topped $75 a barrel once more amid heightened geopolitical tensions. The U.K. FTSE 100 index declined 0.7%, the German DAX Xetra 30 index sank 1.3% and the French CAC-40 index lost 1.1%.
Ivaylo
13 Jul, 2006
Metals
Gold hit its highest level in six weeks at $657 during the session, but at the close, the contract lost momentum as light profit-taking appeared and buyers were there to pick up the slack. Ongoing geopolitical issues involving Iran, India and North Korea have been the catalyst of the recent rally.
123jump.com Staff
12 Jul, 2006
New York City
Market averages reversed the earlier course in the mid-afternoon as tech stocks declined. Analysts downgrade on IBM and Dell pushed tech heavy Nasdaq down near 2%. Apple Computer fell on analyst comments. Oil and gold gained. European markets closed higher on earnings expectations. Mexico and Brazil closed lower. India rebounded with 3% rise, one day after bombings. U.S. trade deficit in May rose to $63.8 billion, sixth largest deficit ever.
Elena
12 Jul, 2006
Frankfurt
European markets finished in the positive on hopes for strong second-quarter earnings season and gains for resource and automotive stocks. gainers were miners like Antofagasta and Vedanta Resources. A decline of the euro versus the dollar boosted automakers like DaimlerChrysler and Renault. The German DAX 30 rose 0.4%, the French CAC 40 climbed 0.6%, and London FTSE 100 edged up 0.1%.
Elena
12 Jul, 2006
New York City
Although a series of blasts shook Mumbai on Tuesday evening, Indian stock market opened strong on Wednesday, undeterred by the terror attacks, and surged 3% supported by strong Q1 results from the IT sector. Infosys rose 8% and guided upward fiscal year 2007 earnings and revenue.
Elena
12 Jul, 2006
New York City
Stocks opened near the flat line Wednesday, reflecting a government report on trade deficit and a decline for Microsoft Corp. following an unfavorable EU antitrust ruling. The Commerce Department reported the trade imbalance rose by 0.8% in May to $63.8 billion, mainly due to higher oil prices. The increase was smaller than the 2.5% rise that economists expected but still represented the sixth largest deficit in history.
Elena
12 Jul, 2006
New York City
U.S. equity futures indicated a flat opening, with tech stocks expected to come under pressure as European antitrust regulators fined Microsoft Corp. $357 million for not complying with a 2004 antitrust ruling. In earnings news, biotechnology company Genentech reported Q2 earnings that increased from last year and beat analysts'''' estimate on higher revenues, boosted by strong sales of its cancer drugs, including Avastin.
Elena
12 Jul, 2006
New York City
In addition, the EU threatened penalties of $3.82 million a day beginning July 31 unless the company supplies
Ivaylo
12 Jul, 2006
New York City
Asian markets were divided into winning and losing camps Wednesday, with gains in the Japanese yen dragging down the Nikkei Average. South Korea followed Japan lead, while Hong Kong Hang Seng Index reversed early loses to end in positive territories. Shares in Shanghai and Taiwan also settled lower.
Ivaylo
12 Jul, 2006
New York City
European markets extended its early gains by mid-morning on Wednesday after a late overnight rally on U.S. markets but high oil prices continue to weigh on investor sentiment. Corporate news flow was set to be relatively light. The U.K. FTSE 100 index gained 0.4%, the German DAX Xetra increased 0.9% and the French CAC-40 index rose 0.6%.
Ivaylo
12 Jul, 2006
Metals
Early in the trading, as gold was already making gains alongside oil while the dollar slipped against the euro, news broke that a number of blasts hit commuter rail network of Mumbai during rush hour Tuesday, killing more than 100 people. The bombing was the catalyst of the rally in gold. In addition, technical factors were also at the forefront of the rally as funds returned as buyers to the marketplace.
