Ivaylo
13 Mar, 2007
New York City
European shares edged lower Tuesday on broad but mild selling pressure as traders looked for a new catalyst after a recent burst of mergers-and-acquisitions activity, though truck maker Man reported strong gains on hopes that it will be part of the M&A wave. European stocks fell also on speculation that rising loan defaults in the U.S. will hurt earnings at the regional banks. Broadly, the German DAX 30 index fell 0.4%, the French CAC 40 dipped 0.2% and the U.K. FTSE 100 lost 0.4%.
Ivaylo
13 Mar, 2007
New York City
Gold prices declined Monday, while silver prices advanced in what traders described as largely a consolidation session. Gold was holding onto gains most of the day, then gave way in the last 30 minutes. Silver was also holding onto its gains and did a very good job of doing that consistently. Crude oil fell more than $1 a barrel to settle below $59 a barrel, tracking forecasts for above-normal U.S. temperatures. Copper advanced on strong demand from China.
Elena
12 Mar, 2007
New York City
European stocks finished in the negative on Monday, reflecting growing concerns over the U.S. mortgage market which offset some merger and acquisition deals in the pharmaceutical sector. Akzo Nobel surged 15% after it agreed to sell its Organon BioSciences unit to Schering-Plough Corp. The deal also drove shares in the U.K.''s Imperial Chemical Industries up 5.4%. The French CAC 40 dropped 0.8%, the U.K.''s FTSE 100 dipped 0.2%, the German DAX 30 finished unchanged at 6,715.49.
Elena
12 Mar, 2007
New York City
U.S. stocks traded in a lackluster fashion. On the one hand, significant merger-and-acquisition news generated some buying interest, but on the other, disappointing news from New Century Financial added to recent concerns about a crisis in the subprime mortgage business. Investors were also awaiting key inflation data later this week. In M&A, discount retailer Dollar General surged 27% after it agreed to be bought by affiliates of private equity firm Kohlberg Kravis Roberts & Co. for $7.3 B.
Ivaylo
12 Mar, 2007
New York City
The FTSE 100 turned down after early gains on the back of hopes of more takeovers in the wake of last week
Ivaylo
12 Mar, 2007
New York City
Asian markets closed higher Monday, with the Japanese markets lifted by shares in exporters, which rose on a weaker yen. Japanese economy expanded at a revised 5.5% annualized pace for the October to December period, up from an initial estimate of 4.8% growth. Around the region, leading share indexes gained, tracking a stronger close on US markets Friday after a labor report showed an upbeat US labor report.
Elena
12 Mar, 2007
New York City
U.S. stock markets opened mixed on Monday, reflecting growing concerns of a possible crisis in the subprime mortgage market. A warning from New Century Financial about its financial woes offset the positive sentiment, generated by some significant merger news. The troubled mortgage lender was downgraded by UBS after it said its lenders are cutting off credit. The stock plunged 56% in pre-market trade, while in early trading it was down only 17%. Countrywide Financial dropped 2%.
Elena
12 Mar, 2007
New York City
The acquisition of Organon Bio Sciences is expected to boost its line-up of central nervous system and women''s health-care products, adding five products in Phase III trials and other projects in Phase II development. Schering-Plough also expects the deal to contribute to higher earnings in its first full year.
Ivaylo
12 Mar, 2007
New York City
The Sensex opened with a positive bias and after an initial volatility rallied to a fresh high above 13,000 level on buying in capital goods, telecom, tech and banking stocks. Intense selling in ITC and in cement shares pared gains but the benchmark index managed to end with a slight gain. The main gainers today were Bharti Airtel, Cipla and ONGC, while Gujarat Ambuja, ACC and ITC led the decliners. Indian industrial output in January rose 10.9% from a year earlier.
Ivaylo
12 Mar, 2007
New York City
European stocks posted early gains Monday on mergers-and-acquisition activity, led by Dutch drug and chemicals group Akzo Nobel and U.K. pharmacy chain Alliance Boots. Alliance Boots jumped to an eight-year high. National benchmarks rose in all of the 18 western European markets except for Spain. The FTSE 100 index added 0.4%, the French CAC 40 index rose 0.4% and the German DAX 30 index gained 0.5%.
Ivaylo
12 Mar, 2007
New York City
Gold and silver futures ended lower Friday as the U.S. dollar rose following employment report for February. The dollar was higher and the bonds were sharply lower. What the unemployment numbers showed is that the economy is doing well, much better than was expected. Gold and silver were pressured by profit-taking, as was the case with copper. Energy stocks settled lower. Arabica coffee ended up while raw sugar closed lower.
123jump.com Staff
09 Mar, 2007
New York City
Trading in New York remained volatile in the face of weekly jobless and monthly trade deficit data. At the end of the previous week 95,000 jobs were added and Commerce Department said the January U.S. trade deficit narrowed by 3.8% to $59.12 billion. Fed Governor Beis cautioned on sub-prime loans. New Century Financial shares fell 12%. Yahoo dropped 5% but Big Lots gained 19%. Crude-oil prices declined $1.36 or 2.66% to $60.23 a barrel.
123jump.com Staff
09 Mar, 2007
New York City
Stocks turned slightly lower even after the government reported strength in employment data. The unemployment rate fell to 4.5% from 4.6% as U.S. employers added 97,000 non-farm workers in February. Oil prices dropped as traders took profits. Crude fell $1.57 to $60.07 a barrel in afternoon trading. New Century Financial Corp. plunged 18.4%. Yahoo Inc. tumbled 5.4% after a report said AT&T Inc. wants to scale back its partnership with the portal.
Elena
09 Mar, 2007
New York City
European stocks closed higher on Friday, reversing from earlier gains, as in-line-with-expectations U.S. jobs data offset a disappointing outlook from Airbus owner EADS and a negative broker note on the pharmaceutical sector. EADS was the most notable French large-cap decliner, falling 4.6% after saying 2007 operating profit may be flat following a 94% decline in 2006 net income. The French CAC 40 closed up 0.3 %, the U.K. FTSE 100 gained 0.3%, and the German DAX 30 rose 0.1%.
Elena
09 Mar, 2007
New York City
U.S. stocks came off earlier highs as investors cashed in on earlier gains made on the back of February jobs data. The government reported signs of strength in employment but also a jump in wholesale inventories that indicated a lower demand. Bonds fell sharply amid reduced expectations the Fed Reserve will need to cut interest rates. Tech shares were boosted by semiconductors. Texas Instruments rose 2.1%, while National Semi climbed 3.7%.
