Elena
30 Jun, 2006
Frankfurt
European markets closed steeply higher, boosted by speculations that the U.S. Fed Reserve may be close to the end of its rate-tightening cycle. Tech and auto stocks were leading gainers. Bayer rose 4.5%, following an agreement to sell its diagnostics unit for 4.2 billion euros to Siemens. The German DAX 30 climbed 1.8%, the French CAC 40 surged 1.9%, and London FTSE 100 rose 0.7%.
Elena
30 Jun, 2006
New York City
Stocks moved to the downside after the initial rise as investors turned to profit taking from Thursday''s rally. In corporate news, General Motors rose $1.57 to $29.01 after major holder Tracinda Corp. asked the auto maker to enter an alliance with Renault and Nissan. RSA Security agreed to be acquired by EMC Corp for $2.1 billion in cash.
Elena
30 Jun, 2006
Mumbai
The Sensex kept closed higher in lockstep with the global markets, as the buying interest intensified in highly volatile trading. Metals, banks and capital goods led the advancers. Large caps were the major gainers, with Reliance Communication Ventures, Maruti Udyoq, Hindustan Lever, and Reliance Industries, leading the way.
Elena
30 Jun, 2006
New York City
Stock markets advanced on Friday, lifted by gains for General Motors on news one of the company''''s biggest investors is urging the company to consider a partnership with Nissan and Renault. GM shares shot up 11%. On the deal front, RSA Security agreed to be bought for $2.1 billion in cash by EMC Corp.
Elena
30 Jun, 2006
New York City
Stock futures were pointing to some caution early Friday morning, following one of the biggest rallies in recent time, sparked by the Fed''s policy statement on interest rates. The Commerce Department released a report, showing that both personal income and personal spending rose 0.4% in May after an upwardly revised increase of 0.7% in April.
Elena
30 Jun, 2006
New York City
The maker of personal computers and the iPod music player said that its own internal investigation had uncovered
Ivaylo
30 Jun, 2006
New York City
Apart from the good news from overseas, the Bank of Japan is also likely to meet expectations in that it will end its zero-interest rate policy as early as next month as economic data released Friday showed Japanese core consumer prices rose firmly in May, while the jobless rate fell to an eight-year low. Auto makers led the gainers as fears were allayed that higher U.S. interest rates could affect American consumer demand.
Ivaylo
30 Jun, 2006
New York City
European shares made strong gains on Friday after the US Federal Reserve
Ivaylo
30 Jun, 2006
Metals
There was some maneuvering for position on the market ahead of the expected 25 point interest rate hike by the Fed, and also the last full trading day before the long weekend. The rally petered out because near the end of the month, many traders took profits. Silver, platinum and copper also rallied.
123jump.com Staff
29 Jun, 2006
New York City
Market rose and then surged in the late afternoon trading. Revised Q1 estimate of GDP from 5.3% to 5.6% put investors in the buying mood. In the afternoon the Fed, as expected, raised short-term rates by 25 basis points to 5.25%. Investors stomped to buy stocks lifting averages at one point near 3%. Tech, energy, industrials and consumers led the advancers. European stocks rose 2% across the region. Research In Motion added 0.7 million subscribers and rose 4% in the after hours trading.
123jump.com Staff
29 Jun, 2006
New York City
Market remained in the holding pattern till the Fed decision on rate hike. The 17th rate hike now takes short-term rates to 5.25%, as expected by market. Fighting inflation has taken preceedent over the economic growth. Fed is worried that recent inflationary pressures arising from the rise in energy prices needs to be countered. In the last two years the Fed has raised rates seventeen times. Oil rose in late afternoon and gold is $15.
Elena
29 Jun, 2006
Frankfurt
European markets rallied Thursday with a strong boost from Wall Street solid gains ahead of the Fed Reserve
Elena
29 Jun, 2006
New York City
Stock averages rallied more than 1% Thursday morning, reflecting stronger-than-expected GDP figures. The Commerce Department raised Q1 GDP growth to a 5.6% annual rate but cut the GDP''s inflation component to 3.1%. Traders were also focused on the Federal Reserve''s decision on interest rates later in the session. Heavy equipment maker Caterpillar, diversified manufacturer 3M Co., along with energy shares led advancers.
Elena
29 Jun, 2006
Mumbai
The Sensex had risen nearly 200 points at one point in afternoon trade, on the back of firm Asian markets but in the last hour of trading lost most of the gain of the day. Metal shares and banks stocks retreated from earlier highs, while auto and construction stocks remained firm. Jet Air files case before Supreme Court to recover $100 million in escrow money for a deal with Air Sahara.
Elena
29 Jun, 2006
New York City
U.S. stock markets gained at opening on stronger-than-expected Q1 economic growth, which boosted optimism about corporate profits. The Fed Reserve is in the spotlight, expected to lift its benchmark federal funds rate by a quarter percentage point to 5.25%. In earnings news, Monsanto reported Q3 net income soared to $1.21 a share from 17 cents a year ago, beating estimates. Worthington Industries, metal processing company, reported that its fiscal Q4 profit grew 46%, well above expectations.
