123jump.com Staff
01 Jun, 2007
New York City
U.S. economic reports pleased traders and lifted averages in the U.S., Europe and Latin America. Higher than expected rise in employment and strong personal consumption in April left the impression that the U.S. economy may rebound sooner than expected. The news supported a near 1% rise across major markets in Europe and Latin America. Telecom and utilities takeover talks lifted stocks in Europe. Mexico and Brazil advanced 2% but Shanghai fell more than 3%.
Elena
01 Jun, 2007
New York City
Wall Street opened higher, lifted by stronger-than-expected job growth in May and gains in the tech sector. Technology stocks showed significant strength after Dell posted Q1 profit results that topped expectations. The company also said it would cut 10% of its work force within the next two years in order to reduce costs. Dell rose 3%. Dow Jones & Co. climbed 15% after the Bancroft family said they will meet with Rupert Murdoch''s News Corp., which had offered $5 billion for the company.
Ivaylo
01 Jun, 2007
New York City
The UK market was higher in mid-day trading on Friday on upbeat miners and strong retailers. Investors are also awaiting U.S. non-farm payrolls figures which could indicate a possible rate reduction by the U.S. Feds. NHP Billiton and Home Retail Group are leading advancers, while Centrica was down. Punch Tavern is higher on positive broker comment, as well as Cadbury Schweppes. The FTSE 100 gained 10 points, 0.15%, and was at 6,631 in early afternoon trade.
Elena
01 Jun, 2007
New York City
U.S. stock futures advanced on Friday, boosted by upbeat employment data. Better-than-expected margins and unexpected job cut plan announced by Dell also provided help. The Labor Department said that nonfarm payrolls expanded by 157,000 in May slightly above the 150,000 expected by economists. The unemployment rate was steady at 4.5%, in line with expectations. Average hourly earnings rose 0.3% to $17.30.
Ivaylo
01 Jun, 2007
New York City
Asian markets ended mostly higher on Friday led by export-oriented stocks in Japan and a stronger dollar against the yen. Indexes in South Korea and Singapore rose to record highs, while Shanghai dipped despite strong performance from oil refiner Sinopec. HK closed lower, while Australia edged higher. Taiwan finished sharply higher while the market in Indonesia was closed for public holiday.
Elena
01 Jun, 2007
New York City
The computer maker reported profit of $759 million, or 34 cents per share, compared with $762 million, or 33 cents per share last year. First-quarter sales advanced 1% from the year ago period to $14.6 billion. Analysts had expected earnings of 26 cents per share on sales $13.95 billion.
Ivaylo
01 Jun, 2007
New York City
The benchmark index opened strong and until mid-day rallied on a smooth transfer of funds in the derivative markets, lower inflation and strong global cues. Then, market gains were limited on profit taking and selling pressure, though the index ended on a positive note. Cipla, Satyam and SBI led the advancers, while auto large-caps Hero Honda and Tata Motors were the worst performing stocks. Wholesale price inflation declined to 5.06% for the week ended May 19.
Ivaylo
01 Jun, 2007
New York City
European markets advanced on Friday as bid talk involving GBL outweighed caution ahead of U.S. non-farm payroll data some time later today. Merger and acquisition activity have been valued at $1.25 trillion sp far this year in Europe. Back in Europe, other gainers included French utility Lafarge, as well as Metro. By late morning, Frankfurt Xetra Dax added 0.7%, the CAC 40 in Paris gained 0.5% and London FTSE 100 climbed 0.4%.
Ivaylo
01 Jun, 2007
New York City
Gold and silver ended higher Thursday supported by hints of rising inflationary pressure, a softer dollar against other major currencies, and a surge in base metals. In the energy stocks, gasoline declined as the government released a larger-than-expected rise in inventories for the week that ended May 25. Corn and wheat futures extended their sharp advances from a day earlier.
123jump.com Staff
31 May, 2007
New York City
First quarter economic growth rate for the U.S. was revised to 0.6% from the previous estimate of 1.3%. The slow down was the slowest since Q4 in 2002. In other economic news in the U.S., construction spending rose 0.1% in April, and jobless claims fell 4,000 to 311,000 at the end of the last week. Wachovia agreed to purchase A.G. Edwards for $6.8 billion, only second to Merrill Lynch in number of brokers. Ceridian agreed to be bought out for $36 $5.3 billion. Dell to eliminate 10% staff.
Elena
31 May, 2007
New York City
European stock markets gained ground on Thursday, posting solid gains which managed to offset the steep declines of the previous trading session. Utilities led gainers, with Germany
Elena
31 May, 2007
New York City
U.S. market averages posted gains Thursday morning, buoyed by another wave of takeover deals which helped offset weaker-than-expected economic growth in Q1. In addition to Wachovia''s decision to buy brokerage A.G. Edwards for $6.8 B, Morgan Stanley announced that it bought Australia''s Investa Property Group for $3.9 B. In another deal, Ceridian said late Wednesday it will be bought out by investment firm Thomas H. Lee Partners LP and insurance provider Fidelity National Financial for $5.3 B.
Elena
31 May, 2007
New York City
On the earnings news front, discount retailer Costco Wholesale added 0.6% after it posted Q3 profit drop of 4.9%, which came in line with estimates. Jewelry seller Tiffany & Co. rose 1% after reporting a 15% rise in Q1 profit, indicating that consumer demand for big-ticket items remains strong. Retailer Sears Holdings reported 20% quarterly earnings increase, but said its U.S store sales decreased. Shares of Sears fell 2.2%.
Elena
31 May, 2007
New York City
Wall Street opened in the positive on Thursday, as a multibillion-dollar takeover deal in the brokerage sector helped offset lower-than-expected economic growth. First-quarter growth was revised down to 0.6% from an initial estimate of 1.3%. The market welcomed news that Wachovia agreed to buy brokerage A.G. Edwards for $6.8 billion. In other news, Morgan Stanley bought Australia''s Investa Property Group for $3.9 billion.
Ivaylo
31 May, 2007
New York City
Johnson Matthey, the platinum specialist, leads the advancers Thursday in London after Citigroup raised its recommendation on the company. BHP Billiton announced that it has apponted new chief executive and that fact lifted the stock. Scotish and Southern Energy also advanced on broker comment, while Vodafone broke its winning streak and fell. By mid-day, the FTSE 100 index added 36 points at 6,337.8.
