Ivaylo
10 Oct, 2006
New York City
Despite the seasonal factor, despite oil now over $60, and despite North Korean nuclear test, gold appears to have a negative mindset. It fell into this predicament due to the ease with which it collapsed during what should have been a time of strength last week. Gold rallied early in the session, in synchrony with crude futures after OPEC officials said there is now agreement that cartel members should reduce production by 1 million barrels a day.
123jump.com Staff
09 Oct, 2006
New York City
With the bond market closed for a holiday and no economic data to focus on, investors looked ahead to the coming earnings season. Expectations for another quarter of double digit earnings season are prevalent in among traders. Steel stocks rose as wave of consolidation in the industry is expected to continue. Volatile oil closed higher but energy stocks closed lower. Monster Worldwide CEO resigned on stock option investigation.
Elena
09 Oct, 2006
New York City
European markets finished mixed, with commodities-related stocks posting solid gains, while media stocks moving notably down. Commodities prices surged after North Korea announced a successful underground nuclear test Monday. The media sector came under pressure after Goldman SAX downgraded the sector to neutral from attractive. London FTSE ended up 0.4%, the French CAC 40 ended slightly up at 5,284, while the German DAX 30 inched down to close at 6,084.
Elena
09 Oct, 2006
New York City
Stocks were kept under pressure Monday by North Korea''s decision to conduct a nuclear test, as well as by higher crude oil prices. A day before kicking off the third-quarter earnings season, aluminum giant Alcoa rose 2%, offering support to the Dow. The biggest drags on the blue-chip index were Boeing, General Motors and Verizon Communications.
Elena
09 Oct, 2006
New York City
Indian economic growth rate stood at 8% and the trend was expected to continue for the next 30 month period. The benchmark index opened weak in the wake of North Korea nuclear test following weak global and Asian markets. IT shares advanced, supported by September quarterly earnings expectations. Capital goods and pharma stocks gained. Banks, oil and gas stocks declined. Cipla, L&T, and Grasim led the advancers but Satyam and Reliance Energy led the decliners.
Elena
09 Oct, 2006
New York City
Stocks opened weak as investors turned to profit taking amid geopolitical news and rising oil prices. North Korea announced it had successfully carried out underground nuclear test Monday, sending South Korean stock market down 2.4%. The U.S. dollar rallied against the Korean won, slightly gained versus the yen, and was little changed versus the euro.
Elena
09 Oct, 2006
New York City
Stock market futures traded lower Monday, as investors seemed likely to lock in profits due to concerns about North Korea''s nuclear test and climbing oil prices. Following the news, shares of South Korea''s KOSPI dropped 2.4%. Trading on Wall Street is expected to be light as the bond market is closed for the Columbus Day holiday.
Ivaylo
09 Oct, 2001
New York City
Oil and mining stocks rose as North Korea claims of a successful nuclear test heightened geopolitical concerns and sent commodity prices sharply higher. By 12.05 pm, the FTSE 100 index was 38.5 points higher, at 6,039.7, its highest level since early May. Evidence that inflationary pressure is fading away behind the scenes in British companies fell away on Monday as factory gate inflation declined to its lowest level since April 2004.
Elena
09 Oct, 2006
New York City
The offer represents about a 13% premium to the stock closing price Friday of $23.93 on the New York Stock Exchange. Company
Elena
09 Oct, 2006
New York City
PNC hopes that the takeover will contribute to earnings growth in 2008, and that it has an estimated internal rate of return of approximately 15%. The banks predict the reduction of over $100 million of operating expenses through the elimination of operational and administrative redundancies.
Ivaylo
09 Oct, 2001
New York City
The benchmark Korea Composite Stock Price Index, or Kospi, fell after North Korea official Korean Central News Agency said the underground test was performed successfully. Markets in Hong Kong, Singapore, Australia also declined. China bucked the downward trend as banks led the stock market to a five-year high on expectations Industrial & Commercial Bank of China will make a strong debut late this month. Markets in Japan and Taiwan were closed for public holidays.
Ivaylo
09 Oct, 2006
New York City
Oil prices also rose above $60 a barrel, with Iran adding to international tensions after it announced on Sunday it would not suspend its nuclear programme in spite of the increasing likelihood of sanctions from western powers. In Europe carmakers dropped in response to the higher direction of oil prices. Frankfurt Xetra Dax shed 0.5% and the CAC 40 in Paris lost 0.3%. London FTSE 100, however, added 0.3%.
Ivaylo
09 Oct, 2006
New York City
Gold had dipped in early trading after the release of a report on U.S. non-farm payrolls. The recovery of gold came about on concerns about North Korea possibly detonating a nuclear device as soon as this weekend. Short covering, as well as possible North Korean nuclear tests helped the market recover from early weakness. Trading, though, was thin, with big orders hitting the floor.
123jump.com Staff
06 Oct, 2006
New York City
Market averages declined on mixed employment report and sharp decline in General Motors. September non-farm payroll rose 51,000, significantly lower than Wall Street growth estimate of 121,000. However, August growth was revised to 188,000 from 128,000. Separate job survey reported that unemployment rate dropped to 4.6% in September from 4.7% in August. GM dropped 6.3% on the news that Tracinda will not raise its stake in the company and Jeremy York will resign from the GM board.
Elena
06 Oct, 2006
New York City
European markets closed slightly lower, reflecting weakness in the telecoms sector and disappointing U.S. employment report. Telecommunication stocks came under pressure after Deutsche Bank downgraded Vodafone Group and Telecom Italia to hold from buy, sending their shares down by 1% and 1.5% respectively. The German DAX 30 ended flat at 6,073, the French CAC 40 dipped 0.2%, and London FTSE 100 lost 0.1%.
