Elena
22 Jun, 2006
Mumbai
The Sensex has gained 15% in the past six trading session as the sentiment in the emerging markets improved due to overnight gains in New York and better-than-expected trade data from Japan. Profit-taking emerged in the late hours of trade, which trimmed gains from large-caps, such as Reliance Industries, Tata Steel and Bajaj Auto.
Elena
22 Jun, 2006
New York City
Stocks opened dslightly lower as some negative news on one of Johnson & Johnson''''s product lines offset optimism about better-than-expected company earnings. Company''''''''s shares fell 1.1%. The airline sector declined on news that the U.K. Office of Fair Trade and the U.S. Department of Justice are probing the airline over ticket prices and fuel surcharges. British Airways dropped 5% in London.
Elena
22 Jun, 2006
New York City
Family Dollar advanced 2.4% in pre-market trading after the company reported better-than-expected Q3 earnings. The discount retailer said income advanced to 37 cents a share from 32 cents in the year-ago period, with sales rising to $1.57 billion from $1.43 billion. The company also raised its full year earnings forecast.
Elena
22 Jun, 2006
New York City
British Airways said it was assisting the Office of Fair Trading and the U.S. Department of Justice with their investigations, with Virgin Atlantic and American Airlines also cooperating with the investigation. European and U.S. officials refused to provide details about the probe. After the announcement BA shares were down 4.9% at 349.75 pence in midmorning trading on the LSE.
Ivaylo
22 Jun, 2006
New York City
Asian markets ended higher Thursday, with Japan''s Nikkei Average surging on gains in export-oriented stocks such as Sony Corp. and Canon Inc. following the release of data showing a jump in Japanese exports in May. Overnight advance on New York contributed to the bullish sentiment.
Ivaylo
22 Jun, 2006
Frankfurt
European stocks rose on Thursday due to strong gains from resource shares and a higher finish to trading on Wall Street that once more gave direction for a market still nervously observing interest-rate direction. The U.K. FTSE 100 index advanced 1%, the German DAX Xetra 30 index added 1.3% and the French CAC-40 index rose 1.1%.
Ivaylo
22 Jun, 2006
Metals
Crude oil futures scrambled back above $70 led by the Energy Information Administration report of a smaller-than-expected weekly production of U.S. gasoline stocks.That fact, combined with a softer dollar and traders, having gone short during the metals'' correction lower earlier this month and booking profits, pushed the metals upward.
123jump.com Staff
21 Jun, 2006
New York City
Market averages maintanied an upward bias on the earnings news from Morgan Stanley, FedEx and Darden Restaurants. Traders appeared less worried on economic weakness as companies reported a solid rise in revenue and earnings. Weekly petroleum report showed a strong gain in inventory but crude oil managed to gain 1.3%. Gold advanced $10. Google gained $15. Brokers Goldman sachs, Bear Stearns and Merrill Lynch advanced. Home builders, tech stocks and transportation stocks gained.
Elena
21 Jun, 2006
Frankfurt
European markets finished slightly higher, supported by strong rally on Wall Street. Electronics giant Phillips Electronics and retailor Hennes & Mauritz also provided a boost, rising 4.7% and 4% respectively. The German DAX 30 added 0.2%, the French CAC 40 gained 0.1%, and London FTSE 100 edged up 0.1%.
Elena
21 Jun, 2006
New York City
Stocks traded higher, boosted by strong earnings. Morgan Stanley rose $2.95, or 5.2%, to $59.97 after its Q2 profits jumped on record revenue, exceeding analyst expectations. FedEx Corp. rose $4.33, or 4%, to $112.65, after it reported a 27% jump in Q4 earnings, citing solid economic growth. Darden Restaurants rose $1.98 to $37.54 after reporting strong Q4 profit and same-store sales.
Elena
21 Jun, 2006
Mumbai
The market rallied today supported by strong buying momentum for large-cap stocks in a highly volatile trading. Aggressive buying continued throughout the session, with a strong market-breadth. Volatility was high, as investors rushed to buy stocks. Generic drug maker Dr Reddy
Elena
21 Jun, 2006
New York City
FedEx reported Q4 earnings of $1.82 per share on $8.49 billion in revenue, up from $1.46 per share on $7.72 billion in revenue a year ago. Analysts had expected the company to earn $1.77 per share on $8.42 billion in revenue. The company projected earnings of $1.45 to $1.60 per share in Q1 and $6.45 to $6.80 per share in the full year.
Elena
21 Jun, 2006
New York City
Morgan Stanley Inc. reported that Q2 profit more than doubled on record revenue driven by stronger underwriting, merger and acquisition, and trading results. Net income rose to $1.86 per share from 86 cents per share a year earlier, beating estimates of $1.45 a share. Fashion retailer Hennes & Mauritz AB posted a 12% increase in Q2 profit, helped by a spike in May sales.
Elena
21 Jun, 2006
New York City
Japan agreed to resume U.S. beef imports on the condition that no further problems during onsite inspections would occur. Officials from Japan''s health and agriculture ministries will inspect 35 meatpacking plants certified to ship beef to Japan to see if they are complying with export requirements.
Ivaylo
21 Jun, 2006
New York City
A survey posted Wednesday morning by Japan''''s Finance Ministry showed that large Japanese companies were less bullish about the economy in April-June than in the previous quarter. Hong Kong''''s Hang Seng Index finished the day up, but the market did not have any direction and traders were waiting for interest rate news from the U.S.
