123jump.com Staff
15 May, 2006
New York City
Financial markets around the world declined led by a sharp drop in metal prices. Gold, silver, copper, platinum and palladium declined between 1% and 6%. Oil fell 3.5% as traders started locking in profits. Asian sell-off was led by Indonesia, India and Philippines. Major European markets dropped between 1% and 3%. Norway dropped 5%. In South America Argentina and Brazil declined 3% and 2% respectively. Gold closed down $26.80 but fell as much as $49.
123jump.com Staff
15 May, 2006
Metals
Gold futures dropped as much as $49 an ounce from its 26-year high, the highest price since 1980, last week. June delivery fell $26.80 to $679 an ounce. This is its lowest level since May 8th of this year. Target turned in Q1 profits of 63 cents a share up from 56 cents a share in the year-earlier period. Analysts had been expecting to see profits of 64 cents a share. Share prices were down in early morning trading to just above $48 before recovering slightly to $49.84 a share or down 4.54%.
Elena
15 May, 2006
Frankfurt
European markets closed deeply in the red largely due to continuous inflation concerns and weaker U.S. dollar which weighed on export-related issues. Metals companies also came under pressure, with BHP and Anglo American each down 5%. However, telecommunication stocks bucked the downward trend with Vodafone rising 1.2%. The German DAX 30 lost 1%, the French CAC 40 dropped 1.7%, and London FTSE 100 falling 1.2%.
Elena
15 May, 2006
New York City
AstraZeneca PLC agreed to acquire development partner Cambridge Antibody Technology Group PLC for $1.07 billion. The $25.02-per-share is a hefty 69% premium to Cambridge''''''''s closing price Friday. Bausch & Lomb Co. jumped $3.99 to $48.43 after the company pulled a contact-lens solution that has been linked to a recent outbreak of a fungal eye infection known to cause blindness.
Elena
15 May, 2006
Mumbai
The market collapsed as weakness across all global markets sparked a selling spree on the bourse. It was the biggest decline over a short period of time, with the market reaching an all-time closing high on May 10, to shedding 790 points over three sessions. Metal shares lost the most as news spread that the market may witness a great price correction at any time.
Elena
15 May, 2006
New York City
Stocks moved lower at opening, reflecting significant decline in commodity prices and disappointing first-quarter report from Target Corp. Target posted a 12% jump in Q1 profit, but the results came below estimates by a penny per share. The stock fell 7%. Oil extended the downward move, falling down $2.19 to $69.85 a barrel. Gold for June delivery slipped $23.80 to $688 an ounce.
Elena
15 May, 2006
New York City
Stock futures were sitting below the flat line, suggesting a third consecutive weak session Monday. Market sentiment was negatively affected by continuous interest rate concerns and inflation worries ahead of data on producer prices tomorrow. Sharp declines in commodities prices also contributed to the downward trend. Oil and gold fell 2%, zinc and copper dipped nearly 10%.
Elena
15 May, 2006
New York City
Ernst & Young withdrew a report suggesting that China
Ivaylo
15 May, 2006
New York City
Japan''''s Nikkei Average declined for the fifth session in a row led by the release of inflation data and the yen hitting new eight-month highs against the greenback. The benchmark closed 114.87 points, at 16,486.91, reflecting weakness in automotive stocks. Shares in Singapore, Australia and Taiwan finished also lower. South Korea''''s Kospi index fell 2.6%.
Ivaylo
15 May, 2006
Frankfurt
Sentiment remained glum, overwhelmed by worries of the long-term influence of the advancing commodity prices on inflation and interest rates. After a strong beginning last week, equity markets declined on Thursday and Friday, led by the surprising aggressiveness of the U.S. Federal Reserve, hiking interest rates again on Wednesday. London
Ivaylo
15 May, 2006
Metals
June gold futures drew back a little on the day but closed above the $700 mark. The precious metal meteoric rise during the week was powered by the weakened dollar, inflation-related worries and tensions about Iran
123jump.com Staff
12 May, 2006
New York City
Two days of decline and market rally came to a sharp halt. Market is still trying to decipher the direction interest rates. Inflation jitters were back on the minds of traders. Import prices rose 2.1% in April and 5.9% from a year ago. Petroleum prices rose 12% in the month. Expedia lost 26% of its value on earnigs decline of 57%. Emerging markets in Asia and Latin America fell. Brazil and Argentina dropped 1.5% and 2.7%.
123jump.com Staff
12 May, 2006
New York City
Market averages declined for the second day in a row. Broader averages came under pressure as wave after wave of sale orders hit the market initiated by program trading. March trade deficit was reported at $62 billion lower than the estimate of $67 billion. Economists expect for the year annual trade deficit still to be 8% ahead of last year. Deficit with China, Japan, Mexico and EU rose. Expedia declined 25% on lower earnings. The stock has lost 50% since the end of Jan.
Elena
12 May, 2006
Frankfurt
European markets dropped to their lowest levels in two years. Stocks moved steeply down on concerns over inflation and interest rates. Negative sentiment was also generated by shares of steel companies which reported lower quarterly profit. Mittal Steel dropped 2.4% on 30% net income decline for Q1, while Arcelor fell 2.3%, on 20% profit decline. The German DAX 30 tumbled 2.3%, the French CAC 40 slid 2.1%, and London''''s FTSE 100 dropped 2.15%.
Elena
12 May, 2006
New York City
Online financial-services firms traded lower, despite better-than-expected April volumes for several companies. Charles Schwab Corp fell 1.4% after saying that April daily average revenue trades, or DARTs, rose 44% to 293,000. April client assets rose 22% to $1.3 trillion. TD Ameritrade Holding Corp. reported that it handled an average of 278,000 trades a day in April. The stock was down 0.5%.
