Ivaylo
20 Jun, 2006
New York City
Japanese stocks closed lower for a second day running as technology, financial and real-estate issues declined, ahead of U.S. Federal Reserve likely rise of interest rates at its Jun 28-29 meeting. Investors chose to stay on the sidelines until a clearer perspective emerges for the U.S. economy.Elsewhere in the region, other indexes also followed Japan downward.
Ivaylo
20 Jun, 2006
Frankfurt
Feds officials reaffirmed their tough position on inflation, saying that US core inflation, excluding volatile food and energy costs, has moved up to, or beyond, the upper end of the range. Concerns over a slowdown in US demand with interest rates now seen rising by possibly two quarter point increases struck metals and decreased oil prices below $69 a barrel.
Ivaylo
20 Jun, 2006
Metals
Most investors remain neutral to bearish and are opting either to observe the action from the sidelines or to purchase smaller amounts in a quest to average their costs for the long term. Dealer selling following humble gains in the dollar and light selling in the energy sector have put pressure on the metals again.
123jump.com Staff
19 Jun, 2006
New York City
Market averages came under selling pressures as traders worried of rising interest rates. On light trading volume decliners led gainers by a margin of three to one. Nokia and siemens have agreed to form a joint venture to merge there phone equiment divisions with a total asset value of $30 billion. Oil and gold fell. CarMax and Circuit City reorted better than expected earnings. Home builders association reported decline in confidence among builder community. The index fell to 11-year low.
Elena
19 Jun, 2006
Frankfurt
European markets ended higher Monday. The strongest market drive was the tech sector, which advanced on news that mobile-phone giant Nokia and industrial conglomerate Siemens would merge their phone-equipment units into an equally owned joint venture company. Nokia shares rose 4.1% in Helsinki, while Siemens surged 6.7% in Frankfurt. The German DAX 30 soared 1.2%, the French CAC 40 climbed 0.7%, and London FTSE 100 rose 0.5%.
Elena
19 Jun, 2006
New York City
Stocks erased early gains on Monday as declines in energy shares outweighed gains for major companies. Oil prices declined and the U.S. dollar also gained vs. the yen, but the market lacked direction, with no new economic data to feed speculation over further interest rate moves. In corporate news, Nokia jumped 71 cents to $20.68 and Siemens surged $5.22 to $85.02 on agreement to form a joint venture.
Elena
19 Jun, 2006
Mumbai
The Indian benchmark gained in the latter part of trade in a highly volatile trading, after a sluggish start. In the last hour of the session demand for large-cap stocks supported the small-cap and mid-cap stocks rally helping the market breadth and averages to end on a positive note.
Elena
19 Jun, 2006
New York City
Stocks opened higher Monday as news of a joint venture between Nokia Corp. and Siemens AG gave the market momentum to extend last-week gains. Nokia jumped 71 cents to $20.68 and Siemens surged $6.02 to $85.82.
Circuit City Stores Inc. swung to a profit from a year-ago loss, helped by store improvements and strong sales of flat-panel televisions. The company said net sales advanced 17.5%, while same-store sales advanced 14.6%.
Elena
19 Jun, 2006
New York City
Circuit City Stores reversed to a Q1 net profit of 4 cents a share, up from a year-ago loss of 7 cents a share. The company''s sales advanced 17.5%, while same-store sales advanced 14.6%. CarMax reported Q1 earnings advanced to 53 cents a share, up from 35 cents a share a year-ago on 19% revenue growth, above analyst expectations.
Elena
19 Jun, 2006
New York City
The 50-50 joint venture will be comprised of Nokia''s network business group and Siemens'' carrier-related operations, creating estimated synergies of 1.5 billion euros ($1.9 billion) by 2010. This move will help the two major companies to compete with market leader Ericsson AB. The joint venture will be called Nokia Siemens Networks.
Ivaylo
19 Jun, 2006
New York City
On Friday, China''s central bank announced it was lifted the deposit reserve requirement for commercial banks by a half-point to 8% in an attempt to cool down soaring loan growth on the mainland.That fact reverberated across the region. Japanese stocks declined slightly following a three-day gain. China''s central bank move helped push shares in Hong Kong lower. In South Korean, shares closed lower due to worries about a possible missile test by North Korea hurting sentiment.
Ivaylo
19 Jun, 2006
Frankfurt
European stocks were given a huge lift by Nokia and Siemens merger. Nokia Siemens Networks, which combines Nokia
Ivaylo
19 Jun, 2006
Metals
Due to worries of rising inflation and interest rates, gold has withdrawn sharply from its 26-year high above $730 an ounce hit in May. On Thursday, the metal ended higher for the first time in eight sessions, joining in a broader market recovery. The markets are still absorbing the idea that the Fed will hike rates. With the Fed fighting inflation, the perception is that this move is detrimental toward gold.
Yordanka
18 Jun, 2006
New York City
This week
123jump.com Staff
16 Jun, 2006
New York City
Market averages settled near unchaged level with no clear direction in trading. Gold and oil rose at close. Carnival, Media General, Winnebago and Benihana rose on earnings news. Benihana rose 6.5% and Carnival advanced 5.3%. Markets in Europe closed lower but in Asia and Latin America closed higher. South Africa jumped 5% and Brazil gained nearly 4%. In Paris, Aeroport de Paris IPO rose 8%.
