Market Update

Europe Rises on Sarkozy

Ivaylo
07 May, 2007
New York City

European markets opened higher on Monday, responding to gains in overseas markets, the election of Nicolas Sarkozy as next president of France and the sale of two education units by Reed Elsevier. There were holidays in several European countries and the U.K. stock market was shut, keeping volumes low. The French CAC 40 rose 0.2%, after the favored candidateof the market, the conservative Sarkozy, defeated Segolene Royal in a vote on Sunday, while the German DAX 30 rose 0.2%.

Gold Surges on Softer Dollar

Ivaylo
07 May, 2007
New York City

A decline in the U.S. dollar tracking a disappointing jobs report on Friday provided the drive for gold to continue its rally. The market has blamed the weaker tone of the dollar on news that U.S. employment last month grew at the slowest pace since November 2004. All the other precious metals also advanced. All energy stocks finished lower.

Europe, Canda, Brazil at Record Levels

123jump.com Staff
04 May, 2007
New York City

U.S. averages rose despite weaker than expected non-farm payroll rise in April. The payroll rose by 88,000 and unemployment rose to 4.5%. Traders focused on resumption of merger exploration talk between Microsoft and Yahoo. Yahoo jumped 10% on the news. Eastman kodak reported 53 cents per share loss. European merger and takeover has reached a new peak with the possible Cigarette company deal in Spain, a deal between cement companies in Germany and U.K., buyout offers for EMI and Reuters.

BHP, Reuters, EMI Lead European Gainers

Elena
04 May, 2007
New York City

European stock markets posted solid gains on Friday, hitting fresh six-year highs on the back of deal speculation in the media and mining sectors. BHP Billiton, rose 4.6% and Rio Tinto climbed 4.7% amid reports that private-equity investors could buy BHP. Among media stocks, Reuters surged 25% after the company said it received a takeover approach, possibly from Thomson Corp. Music-publishing group EMI jumped 8.2%. The FTSE 100 rose 1%, the French CAC 40 rose 1.1%, the German DAX 30 added 0.5%.

Interactive Brokers IPO up 10%

Elena
04 May, 2007
New York City

Options-trading firm Interactive Brokers Group gained 9% after raising $1.2 billion in its stock market debut Friday as the richest IPO in 2007. Interactive Brokers Group priced 40 million shares at $30.01 each, coming in at the high end of the expected range of $27 to $31 a share. Spanish-French tobacco company Altadis said that it received a preliminary private equity takeover approach from CVC and PAI Partners, valuing Altadis at around 12.8 billion euros ($17.4 billion).

Reuters up 25% on Buyout Offer from Thomson

Elena
04 May, 2007
New York City

Merger-and-acquisition news was the main market driver on Friday. Reuters surged 25% after it said it had received a preliminary takeover approach from financial data provider Thomson Corp. In other deal news, Yahoo jumped 15% amid reports that Microsoft is interested in buying the Internet search engine in a deal that could be worth $50 billion.

Yahoo Jumps 15% on Microsoft Talks

Elena
04 May, 2007
New York City

Corporate takeover news and in-line-with-estimates unemployment rate boosted U.S. stocks at opening. Yahoo jumped 15% in early trading amid reports that Microsoft is interested in buying the Internet search engine in a deal that could be worth as much as $50 billion. At the same time, Dow member Microsoft lost 1.7%. In other deal news, Reuters surged 25% after it said it had received a preliminary takeover approach from financial data provider Thomson Corp.

FTSE Rallies on Reuters

Ivaylo
04 May, 2007
New York City

Intense bidding in the media sector saw shares in London surge above the 6-year highs hit on Thursday after Reuters confirmed it had received an approach from a rival thought to be Thomson of Canada, a financial information provider based in Toronto. Miners also advanced as strong metal prices boosted the sector. The FTSE 100 gained 59.5 points or 0.9% to 6,597.3 by mid-day.

Stock Futures Gain on Jobs Data

Elena
04 May, 2007
New York City

U.S. stock futures advanced Friday, lifted by moderately slowing jobs growth and deal speculation that Microsoft Corp. is planning to launch a $50 billion bid for Yahoo. The Labor Department said that U.S. job growth slowed to 88,000 in April, vs. the average economist estimate of 100,000. The unemployment rate gained 4.5% from 4.4%, in line with expectations.

HK, Australia Lead Asia Higher

Ivaylo
04 May, 2007
New York City

Asian markets finished mostly higher, buoyed by the record close on U.S. market overnight. Gains in property stocks saw Hong Kong benchmark index rise for the third-straight session, while in Australia, the market surged to record highs on solid gains from the large-cap miners and on an improved inflation outlook. South Korea edhed higher.

Sensex Dips 1%, Inflation down

Ivaylo
04 May, 2007
New York City

The market opened with a positive bias Friday on firm global markets but soon plunged into negative territory as Reliance Industries slumped on an unfavorable court decision. The benchmark index ended the week with a marginal gain. HDFC led the decliners today, together with Reliance Industries, while Cipla and Hindalco were the best performing stocks. Inflation for the week ended April 21 decreased. The government recast the tax on Employee Stock Options.

Microsoft and Yahoo Explore Merger

Elena
04 May, 2007
New York City

Shares of Yahoo surged 15% in pre-open trading on Friday amid reports that Microsoft is likely to launch a buyout bid for the Internet search firm after being beaten to other deals by Google Inc. The deal could be valued at a $50 billion.

Europe Rises on Takeover Talk

Ivaylo
04 May, 2007
New York City

European markets managed to stay in positive territory in early trading on Friday ahead of the release of key U.S. jobs data, with miners including BHP Billiton pricing in an advance in Sydney and recorded music group EMI, as well as Reuters, provider of financial data, rallying on new takeover talk. The major indices were higher including the FTSE 100 which rose 0.3% and the French CAC 40, which also gained 0.2%, while the German DAX 30 was a bit worse, trading flat.

Copper Surges, Gold Rises

Ivaylo
04 May, 2007
New York City

Copper futures reached new highs in New York on Thursday, supported by ongoing warehouse inventory depletions and labor unrest in Peru. Fund buying saw gold and other precious metals rise. On the Chicago Board of Trade, corn futures ended higher, but missed highs reached earlier in the session as worries over planting delays in the Midwest underpinned prices.

Emerging Markets Lead Global Rise

123jump.com Staff
03 May, 2007
New York City

Better than expected rie in first quarter worker productivity of 1.7% and slower than expected rise in labor cost of 0.6% helped averages to remain in the positive. jobless claims at the end of last week felll to 305,000. Expeditors International, Royal Dutch Shell,Symantec, and Unum reported better than expected earnings. Verizon rallied on Merrill Lynch raising the target to $42 from $40.