Ivaylo
09 Mar, 2007
New York City
The UK market is treading water ahead of the monthly US jobs report, due early afternoon. An absence of any major announcements from FTSE 100 companies is also adding to the subdued mood. Pharmaceutical large-cap GlaxoSmithKline is one notable weak spot after a downgrade, while mid-cap Offshore Hydrocarbon Mapping shot ahead on an infringement case. The UK benchmark FTSE 100 is slightly higher, up 0.1%, at 6,234 by mid-afternoon.
Elena
09 Mar, 2007
New York City
U.S. stock market futures shot steeply higher on Friday, boosted by in-line-with-expectations employment figures and continued narrowing in the trade deficit. Nonfarm payrolls rose 97,000 in February, in line with the average economist estimate of a gain of 100,000. The unemployment rate fell to 4.5%, vs. expectations of rate at 4.6%. According to another economic report, the U.S. trade deficit narrowed by 3.8% in January to $59.1 billion.
Ivaylo
09 Mar, 2007
New York City
In Japan, technology stocks surged on reports that machinery orders climbed a 3.9% on month in January. Hong Kong stocks ended lower after a portfolio shuffle by some index-tracking funds to include China Life Insurance and Industrial Commercial Bank of China, which will become Hang Seng constituents in the next session. In Shanghai shares gained for a fourth straight session, after gains in banks. The South Korean stock market ended flat.
Ivaylo
09 Mar, 2007
New York City
The benchmark index opened with a positive bias and until noon was on the rise. Then, news came of the agreement cement large-caps have reached with the government not to raise cement prices. That coupled with the higher inflation figures dampened sentiment. High volatility also troubled investors. Grasim, ACC led the decliners, while NTPC and Hero Honda led the gainers. Inflation rose 6.1% in the twelve months to February 24. Morgan Stanley, Citigroup and Actis, to buy 6% stake in the NSE.
Ivaylo
09 Mar, 2007
New York City
European markets were lower on Friday as drugs, metals and mining groups declined, and although the losses were not as severe as they were last week, investors were cautious of calling an end to the recent market volatility. A disappointing outlook from Airbus owner EADS and a negative broker note on the pharmaceutical sector added to pressure. By mid morning, Frankfurt Xetra Dax fell 0.5%, the CAC 40 in Paris shed 0.8% and London FTSE 100 lost 0.4%.
Ivaylo
09 Mar, 2007
New York City
Copper futures surged Thursday, nearly setting a high for 2007, as stocks continue to rebound and the market focused on recent inventory declines and expectations that Chinese buying is increase. Gold futures also closed modestly higher as buying continues after a recent correction lower. On the Chicago Board of Trade, corn futures ended mixed ahead of supply and demand reports on Friday.
123jump.com Staff
08 Mar, 2007
New York City
Strength in commodity producers lifted stocks in Asia and Europe, which in turn provided momentum to U.S. markets. Retailers turned in a tepid February same store sales after cold weather hit parts of the U.S. Labor Department said new unemployment claims fell by 10,000 to a seasonally adjusted 328,000 in the week ended March 3, slightly better than Wall Street expectations. Wal-Mart fell on weaker than expected same store sales but Nordstrom rose 5% on the data.
123jump.com Staff
08 Mar, 2007
New York City
Stocks halved their gains on market rumors that sub-prime mortgage lender New Century Financial may file for bankruptcy. New Century stock plunged 19.8%. Gasoline price jumped to six-month high on lower than expected supplies. The supplies fell to 216 million barrel in the four weeks ending March 2nd. Refineries stocks rose. Gasoline for April delivery rose 1.6% to $1.925 per gallon.
Elena
08 Mar, 2007
New York City
European stocks posted solid gains on Thursday, boosted by strength in the commodity sector and well received earnings reports. Metals firms including Boliden and Xstrata made the best sector performance as copper and gold futures advanced. Among earnings-related gainers, French utilities Suez and Veolia Environnement jumped over 2% after reporting strong profit in 2006. The German DAX Xetra 30 climbed 1.4%, the French CAC 40 rose 1.3%, and the U.K. FTSE 100 closed up 1.2%.
Elena
08 Mar, 2007
New York City
Wall Street rallied on Thursday, cheered by signals that weakness across global stock exchanges had been overcome. The Dow Jones industrials rose more than 100 points, boosted by General Motors, up 1.9% and Citigroup, rising 1.2%. Retail stocks were in focus, with Nordstrom leading the sector higher after reporting strong same-store sales growth in February. The stock rose 5.2%. Kohl''s Corp. gained 2.7% after its sales handily beat the 2.9% gain estimate with an increase of 4.4%.
Elena
08 Mar, 2007
New York City
Wall Street advanced sharply Thursday, receiving a lift from recovering global markets and looking past lackluster retail sales reports for February. A strengthening U.S. dollar also contributed to the gains. Retailers posting disappointing results included Wal-Mart, Costco Wholesale, Limited Brands and others. However, Nordstrom''s and Target Corp.''s same-store sales beat estimates. Nordstrom rose 4.8%, while Target gained 2.1%.
Ivaylo
08 Mar, 2007
New York City
London stocks kept their upward momentum on Thursday on a rally in the mining sector. Mining stocks led the plunge last week because they are largely seen as a proxy on global growth. Kazakhmys led the gainers in the sector. The market was also boosted by anticipated news that the Bank of England Monetary Policy Committee had left interest rates on hold at 5.25%. The gains in mining stocks helped the FTSE 100 advance 43.1 points to 6,199.6 by late morning.
Elena
08 Mar, 2007
New York City
U.S. stock futures advanced on Thursday, boosted by solid gains in overseas markets and strength in the U.S. dollar vs. the Japanese yen. The dollar rose 1.2% at 116.97 yen. Sluggish retailer sales in February and a rate hike from the European Central Bank failed to hurt the upside trend. Among pre-market highlights, Hollis-Eden Pharmaceuticals fell 21% as U.S. Dept. of Health found its Neumune drug ''technically unacceptable''.
Ivaylo
08 Mar, 2007
New York City
Asian markets closed mostly higher on Thursday, as investors neglected a weaker finish on US market and resorted to buying in domestic-consumption-related stocks on optimism over the regional growth outlook. In Japan, the Nikkei 225 Index shrugged off a weaker morning session with traders focusing on a wide range of large-caps and commodity-related issues. HK, South Korea and Taiwan also advanced, while Australia bucked the trend and declined.
Elena
08 Mar, 2007
New York City
Wal-Mart Stores said Thursday its February same-store sales rose 0.9%, missing estimates of an increase by 1.5%. Warehouse retailer Costco Wholesale reported 4% rise in its February same-store sales, missing the average analyst estimate of 5.1% growth. Limited Brands said Thursday its February same-store sales rose 3%, coming shy of analyst estimates of same-store sales increase by 4%.
