Elena
14 Jul, 2006
New York City
The decision boosts the Bank of Japan''s key overnight call rate to 0.25% from 0.069%, signifying that deflation has been overcome and the economic recovery is gathering speed. The bank''s move links Japan with the other major economies, where central banks are also tightening their money policy.
Ivaylo
14 Jul, 2006
New York City
The policy board of Bank of Japan hiked its key interest rate by a quarter percentage point to 0.25% Friday, putting an end to its five-year policy of keeping rates near zero percent. In addition to tightening the overnight call rate, the central bank also chose to boost the official discount rate, or the interest rate banks charge each other in the interbank market. Worries over escalating violence in the Middle East also impacted the stocks negatively.
Ivaylo
14 Jul, 2006
New York City
European markets moved lower by mid-morning on Friday after escalating violence in the Middle East pushed crude oil to a record high and prompted sharp drops in global markets in the previous session. Following sharp drops in early trade, markets moved off their worst levels of the morning. The U.K. FTSE 100 index shed 0.5%, the German DAX Xetra 30 index declined 1.1% and the French CAC-40 index dropped 0.9%.
Ivaylo
14 Jul, 2001
New York City
During the session gold reached $656.50 an ounce but faced light profit-taking as the dollar made gains against the euro. Most of its support on the upside started from safe-haven interest due to geopolitical issues involving Iran and North Korea. The rally in crude-oil prices added to the upside in gold. Silver and platinum lost ground, however.
123jump.com Staff
13 Jul, 2006
New York City
It was oil, Middle East tensions, Nigeria, Mexican election stand-off, Japan rate hike worries and Mumbai bomb blasts all came to bear on the market. Global markets sold-off with Russia losing 4% and Latin America down 3%. Despite a sharp rise in oil price, demand in the U.S. and China is still strong. Ford Motor cuts its dividend by half. Wal-Mart was downgraded. Apple Computer hits seven-month low.
Elena
13 Jul, 2006
Frankfurt
European markets ended sharply down Thursday on renewed concerns over the strength of Q2 earnings and surging oil prices to record highs of over $76. Technology, mining, and insurance stocks stood out among decliners. The German DAX 30 tumbled 2%, the French CAC 40 slipped 1.8%, and London FTSE 100 dropped 1.6%.
Elena
13 Jul, 2006
New York City
Stocks continued to post weakness, reflecting record-high crude oil futures, brokerage downgrade on Wal-Mart, and geopolitical tensions, including escalating violence in the Middle East, the stand-off over Iran''s nuclear program, and North Korea
Elena
13 Jul, 2006
Mumbai
Ministry of Commerce reported that manufacturing sector advanced at 10.9% rate, slightly below 12% rate projected by the goverrnment. Mining and electricity were the laggard dragging the advance. After Wednesday
Elena
13 Jul, 2006
New York City
Stocks opened lower on surging oil prices and brokerage downgrade on Wal-Mart Stores. Positive earnings news from PepsiCo failed to lift sentiment. The beverage producer reported 16% profit rise in Q2 on 12% revenue growth. Marriott International reported Q2 net income rise of 43 cents a share from 29 cents last year on 7% revenue increase. Media company Tribune announced 62% decline in profit in Q2 due to falling newspaper circulation.
Elena
13 Jul, 2006
New York City
U.S. stock futures dropped Thursday, dragged by record-high oil prices and a brokerage downgrade of Wal-Mart Stores Inc. Merrill Lynch lowered its rating on Wal-Mart Stores to
Elena
13 Jul, 2006
New York City
Aviva will pay $69 in cash per AmerUs share, a 10% premium to the closing price of July 6, the day before Aviva confirmed they were in talks. The transaction is expected to be completed in the fourth quarter. Aviva shares fell 0.8% to 707 pence on the LSE.
Ivaylo
13 Jul, 2006
New York City
Asian stocks sank Thursday led by broad losses on U.S. markets, with exporters including Toyota Motor and Canon Inc. reporting some of the largest declines in Japan, while Shanghai shares dropped nearly 5% to lead regional losers. The Hang Seng Index in Hong Kong also fell as well as the Kospi of South Korea and Australia benchmark S&P/ASX 200.
Ivaylo
13 Jul, 2006
New York City
European markets opened lower on Thursday as investors continued to worry about the early progress of the U.S. second quarter earnings season and as crude oil prices topped $75 a barrel once more amid heightened geopolitical tensions. The U.K. FTSE 100 index declined 0.7%, the German DAX Xetra 30 index sank 1.3% and the French CAC-40 index lost 1.1%.
Ivaylo
13 Jul, 2006
Metals
Gold hit its highest level in six weeks at $657 during the session, but at the close, the contract lost momentum as light profit-taking appeared and buyers were there to pick up the slack. Ongoing geopolitical issues involving Iran, India and North Korea have been the catalyst of the recent rally.
123jump.com Staff
12 Jul, 2006
New York City
Market averages reversed the earlier course in the mid-afternoon as tech stocks declined. Analysts downgrade on IBM and Dell pushed tech heavy Nasdaq down near 2%. Apple Computer fell on analyst comments. Oil and gold gained. European markets closed higher on earnings expectations. Mexico and Brazil closed lower. India rebounded with 3% rise, one day after bombings. U.S. trade deficit in May rose to $63.8 billion, sixth largest deficit ever.
