Ivaylo
20 Oct, 2001
New York City
European markets hit new five-year highs in early trading on Friday morning, as companies gained strength from overnight upbeat close on U.S. markets and as oil producers advanced after the OPEC oil cartel agreed on a deeper-than-anticipated production reduction. OPEC agreed on a cut of 1.2 million barrels a day, topping the forecast 1 million barrels. The U.K. FTSE 100 gained 0.44%, the German DAX 30 rose 0.4%, the French CAC 40 advanced 0.5%.
Ivaylo
20 Oct, 2006
New York City
Traders commented that a buy signal appeared at the $599.10 an ounce level while at the same time, crude oil rose after comments from the oil minister of Saudi Arabia hinting that OPEC could make further reductions to stop the recent decline in the oil market. The Saudi comments boosted oil prices which in turn pushed gold higher. All the other precious metals rallied as well.
123jump.com Staff
19 Oct, 2006
New York City
Citigroup, Bank of America and Bank of NY reported mixed earnings growth, owever shares of all three stocks fell. Citigroup operating earnings rose 6% on a slight decline in revenue in the third quarter. Bank of America reported earnings of $1.18 vs. 95 cents a year ago on revenue rise of 32%. Bank of NY reported earnings of 46 cents vs 51 cents a year ago. After the close Google reported earnings of $2.36 vs $1.32 a year ago.
Elena
19 Oct, 2006
New York City
European stock markets finished near the unchanged mark Thursday, as weakness sparked by earnings and sales figures from Nokia, SAP and Nestle was offset by gains from Ericsson and strength among mining stocks. The German DAX 30 closed down 0.1%. The French CAC 40 ended flat at 5,359.74. London FTSE 100 added 0.1% at 6,156.00, helped by resource stocks.
Elena
19 Oct, 2006
New York City
U.S. stocks reversed from earlier weakness, lifted by better-than-expected earnings of blue chips Coca-Cola Co. and Pfizer Inc., which helped offset concerns about weak results of some tech companies. The Dow broke through the historical height of 12,000 for a second straight day. Coca Cola gained 1.6% on better-than-forecast earnings and revenue. Pfizer gained about 0.9% after reporting 112% earnings jump.
Elena
19 Oct, 2006
New York City
The Sensex finished lower for a third straight day in a highly volatile trading on Thursday. Profit-booking emerged on the market, as a consequence of weak results from some large-caps. Bajaj Auto led the decline as its earnings results failed to meet market expectations. Reliance Communication, Ranbaxy and ITC were the other main decliners. Grasim led the advancers as its results exceeded expectations. Indian economy will continue to grow at 8% annually.
Elena
19 Oct, 2006
New York City
Stocks opened weaker Thursday as investors were cautious amid mixed results from tech stocks like Apple Computer Inc. and Advanced Micro Devices Inc. Advanced Micro Devices plunged 11.6% after its results raised worries about falling profit margins. Mobile telephone maker Nokia Corp. dropped 3.12% on disappointing Q3 profit. At the same time, Apple jumped 6.6% on strong Q4 earnings, driven by iPod sales rise.
Ivaylo
19 Oct, 2006
New York City
The FTSE 100 succumbed to weakness in the banking sector and oil stocks despite strength in pharmaceutical shares. Banks led decliners as takeover talk subsided and credit quality fears emerged. News from Prudential showed that the credit quality trends have worsened a little, so it might affect sentiment on UK banks. Pharmaceuticals were the main advancers after Swiss companies Serono and Novartis reported stronger-than-expected earnings results. By mid morning, the FTSE 100 lost 0.2%.
Elena
19 Oct, 2006
New York City
Stock futures settled near the flat line, reflecting mixed results in the tech sector, offset by better-than-expected results from Bank of America, Citigroup and Coca-Cola. Citigroup said its Q3t fell 23%, Bank of America topped forecasts with a 41% profit rise, and Coca-Cola also exceeded views with a 14% profit rise. Pfizer said its Q3 profit soared 112%. Revenue rose 9%to $12.2 billion, beating estimates.
Elena
19 Oct, 2006
New York City
Apple posted earnings of $546 million, or 62 cents per share, up from $430 million, 50 cents per share last year, easily beating expectations of 51 cents a share on sales of $4.66 billion. Revenue for the quarter jumped 32% to $4.84 billion. Apple said that for the quarter it shipped 8.7 million iPods, 35% more from the year-ago period and 1.6 million computers, up 30% from a year earlier.
Ivaylo
19 Oct, 2006
New York City
Asian stocks traded mixed Thursday, with the Nikkei in Japan declining on poorresults from chip-equipment makers such as Advantest Corp, while shares of Nissan Motor Co. lost ground after the automaker announced a global recall affecting 130,000 vehicles. Hong Kong also fell, as well as Taiwan, South Korea ended flat, while Singapore bucked the trend and advanced.
Ivaylo
19 Oct, 2006
New York City
Traders are also expecting US data and a possible agreement on production cuts by OPEC members. SAP and Ericsson were in focus, while Atos Origin was the subject of speculations that Blackstone, a US private equity firm was considering a takeover of the French information technology company. The U.K. FTSE 100 index sank 0.5%, the French CAC-40 index was 0.5% lower, and the German DAX Xetra 30 index declined 0.4%.
Ivaylo
19 Oct, 2006
New York City
Trading also remained range-bound as gold and silver futures faced some resistance at around $600 an ounce and $12 an ounce, respectively. Gold has struggled to get through the $600 area, where it stalled Tuesday. There has been some talk of physical demand from Southeast Asia, but not much has come from dealers or banks. The metals were range-bound as traders await an OPEC meeting Thursday, which could decide whether oil producers will officially reduce their target output.
123jump.com Staff
19 Oct, 2006
New York City
Mixed economic reports helped market averages to climb higher. CPI fell 0.5% but core CPI rose o.2% in September. Housing starts rose 5.9% but building permits fell 6.3% in the Sept month. JP Morgan reported Q3 earnings of 92 cents beating the estimates of 86 cents. Motorola reported earnings of 32 cents, peny lower than expected and stock fell 5%. Yahoo failed to excite investors and dropped 5% on earnings. Oil dropped below $58 per barrel.
Elena
18 Oct, 2006
New York City
European stock markets rebounded Wednesday on the back of broad-based gains after The Dow Jones Industrial Average broke through the historical level 12,000. The tech sector advanced, with IT services company Cap Gemini, up 2% and SAP, up 0.6%. Mining companies also posted strength. The German DAX 30 climbed 1.1%, the French CAC 40 rose 1.1%, and London FTSE 100 added 0.7%.
