Yordanka
28 May, 2006
New York City
IPOs came in mixed last week. Internet telephone service provider Vonage lost 24% from the initial price, while shares of the world''s second largest credit-card association MasterCard rose 15% even priced below expectations.
123jump.com Staff
27 May, 2006
New York City
Singapore in an attempt to diversify from the its manufacturing base granted its first gambling license to build a casino. The $3.2 billion casino may be the most expensive casino built ever in the world. The casino is scheduled to open in 2008 and generate more than 10,000 jobs in Singapore and add S$2.5 billion to the economy by 2015. Las Vgas Sands stock rose 9%.
123jump.com Staff
26 May, 2006
New York City
Steel stocks rose on hope that Mittal Steel may cast its eye on other companies if merger with Arcelor do not happen. several leading steel makers including U.S. Steel and Nuecor rose between 2% and 3%. Arcelor has proposesd a merger with Russian steel company Severstal to fend off a hostile deal Mittal Steel. Arcelor global search of white knight has not been successful in the last three months.
123jump.com Staff
26 May, 2006
New York City
Market averages responded to the positive news on inflation.Personal income rose 0.5% in April and personal consumption rose 0.6%. Core inflation rate rose in April at 2.1% after rising at 2.0% rate in March. Las Vegas Sands was awarded a license for casino in Singapore, stock rose as much as 11%. Chicos reported earnings of 29 cents and stock rose 2%. Toro Corp rose 2% on earnings rise of 17% on sales growth of 5%.
Elena
26 May, 2006
Frankfurt
European stocks rallied for a second consecutive session, boosted by resource stocks after Arcelor agreed to merge with Russian steelmaker Severstal. Shares of Arcelor dropped 3%, while Mittal rose 2%. A positive sentiment on Wall Street, generated by mild core inflation data, also provided support. The German DAX 30 rose 1.4%, the French CAC 40 climbed 1.9%, and London FTSE 100 surged 2%.
Elena
26 May, 2006
New York City
Las Vegas Sands rose 12% on news that it won the right to build the first casino resort in Singapore, ousting other bidders like MGM Mirage and Harrah''s Entertainment. In March, Sands said that it was prepared to spend $3.6 billion to develop the Marina Bay property, which includes 2,500 hotel rooms, 1.2 million square feet of meeting space, a million more in retail and three entertainment venues.
123jump.com Staff
26 May, 2006
New York City
For the last fifteen days nervous investors have lowered market values around the world. For the third day in a row market averages rose as inflation, personal consumption and income data revealed that reported inflation is under control. Brokerage, industrial and hotel stocks rose. Las Vegas Sands rose 9% on winning a license to build casino in Singapore. UBS upgraded Goldmans Sachs and raised stcok price target to $180. Chicos, Toro Corp and Ralp Lauren reported higher earnings.
Elena
26 May, 2006
Mumbai
Shares in Asia climbed on Friday following advances in New York yesterday, after US first quarter GDP growth was revised upwards. Two-wheeler and truck manufacturer stocks, led the gainers, buoyed by the news that a monsoon hit Kerala on Friday, six days before normal season. For the week Sensex lost 1.1%.
Elena
26 May, 2006
New York City
Stocks opened higher, extending recent gains on the back of mild economic data which raised hopes that the Fed Reserve will cease interest-rate increases. The Commerce Department said both personal spending and income rose in April, helped by improved wages. Personal spending growth of 0.6% met estimates, while a 0.5% rise in income came in below expectations of 0.7%. Consumer prices, excluding food and energy prices, rose 0.2% in April after a 0.3% increase in March.
Elena
26 May, 2006
New York City
Stock futures pointed to a lackluster opening ahead of holiday weekend and economic data. On Friday steelmakers are seen in the spotlight as Arcelor SA, rejecting a hostile bid from rival Mittal Steel Co., reached a deal that would give it a controlling stake in Russian largest steelmaker Severstal and $1.59 billion in cash in exchange for 32% of Arcelor.
Elena
26 May, 2006
New York City
The jury returned guilty verdicts against the two executives. Kenneth Lay was convicted of all six counts in the main trial, as well as of four charges of bank fraud and making false statements to banks in a separate non-jury trial. Skilling was convicted of 19 counts of fraud, conspiracy and insider trading.
Ivaylo
26 May, 2006
New York City
Japan
Ivaylo
26 May, 2006
Frankfurt
On Thursday, European stocks recovered some of their recent losses but trading volumes were slimmer than usual with several markets closed for the Ascension Day holiday. European markets traded higher in the morning session, benefiting from a strong close in New York. The FTSE 100 in London gained 0.6%, the Xetra Dax in Frankfurt was up 0.5% and the CAC 40 in Paris advanced 0.6%.
Ivaylo
26 May, 2001
New York City
However, traders described the trading session as one of the calmer ones for a while, with activity softened before a long holiday weekend. The increase happenss after June gold had plunged $36.20 on Wednesday and July silver had lost 65.5 cents. Other futures, such as oil and gasoline also advanced.
123jump.com Staff
25 May, 2006
New York City
Market showed a positive bias at the opening. Averages gained strength as the day progressed on the steady buying from mutual funds. Tech stocks led the early rise and rally spread to large-cap stocks. Market rise for the second day in a row convinced buyers to step in on the revised grwoth rate of GDP to 5.3% in the first quarter. April existing-home sales declined 2%Mastercard IPO raised $2.39 billion at a price of $39 per share. Regions Financial agreed to buy AmSouth for $10 billion.
