Ivaylo
21 Jun, 2006
Frankfurt
European shares edged down on Wednesday, with gains held in check by interest-rate tightening concerns on both sides of the Atlantic. In Europe, ECB President Jean-Claude Trichet testified before the European parliament that risks to price stability prevail and that oil price pass-though will lift consumer prices in 2007. The European economy is, however, evolving in line with the central bank''s assessment, he added.
Ivaylo
21 Jun, 2006
Metals
It seems that a number of market participants have begun to view the $570 level as a value area for gold. Investors believe that a consolidation phase through mid-August is possible, which is traditionally the case. Nevertheless, the market is closely observing economic and political events, which could precipitate a big move sooner.
123jump.com Staff
20 Jun, 2006
New York City
Market advanced on housing report. Steep decline in housing market is what investors are worried about, however housing report indicated a slow and steady decline in the housing market. Housing starts in May rose 5% after falling 5.4% in April. Building permits fell 2.1%. Housing stocks however did not rally after the report. Stocks now trade near eighteen-month low. Oil dropped and gold rose. Markets in Asia fell, led by a 3% declie in Taiwan. European markets gained. Mexico rose 1.3%.
123jump.com Staff
20 Jun, 2006
New York City
Market averages remain in the positive zone on new home starts and building permit report for the month of May. New home starts in May rose 5% but building permits fell 2.1%. Oil gained. Home builder stocks declined to eighteen-month low on the report. Lennar, Horton, Hovnanian,Toll Bros and Beazer dropped on the news. Several of these stocks are no trading near book value.
Elena
20 Jun, 2006
Frankfurt
European markets gained Tuesday, boosted by strength in metals stocks and positive U.S. market opening on better-than-anticipated housing starts data. Among resource stocks, miner BHP Billiton and Rio Tinto were the biggest gainers together with Steelmaker Mittal Steel, which rose 1.9%. The German DAX 30 surged 1%, the French CAC 40 rose 0.9%, and London FTSE 100 gained 0.6%.
Elena
20 Jun, 2006
New York City
The letter, published in the Financial Times, said the $16 billion agreed merger of Severstal and Arcelor would give Severstal-owner Alexei Mordashov control over the new company. Arcelor said it would cancel its deal with Severstal if shareholders representing 50% of the capital voted against the tie-up. Mittal rose 0.9% in Amsterdam, while Arcelor advanced 0.9% in Paris.
Elena
20 Jun, 2006
Mumbai
The Sensex in India fell Tuesday breaking three days of gain in a row. Weakness in markets across the region sparked profit-taking in a highly volatile session. Small and mid-cap stocks rallied but broader averages declined with metal, auto and cement stocks were among the biggest decliners.
Elena
20 Jun, 2006
New York City
New housing construction rose at a seasonally adjusted annual rate of 1.957 million units in May from a revised rate of 1.863 million units in April. Economists had expected housing starts to rise to a 1.870 million unit rate. The report also showed that building permits fell 2.1% to a seasonally adjusted annual rate of 1.932 million units from an unrevised 1.973 million unit rate in April.
Ivaylo
20 Jun, 2006
New York City
Japanese stocks closed lower for a second day running as technology, financial and real-estate issues declined, ahead of U.S. Federal Reserve likely rise of interest rates at its Jun 28-29 meeting. Investors chose to stay on the sidelines until a clearer perspective emerges for the U.S. economy.Elsewhere in the region, other indexes also followed Japan downward.
Ivaylo
20 Jun, 2006
Frankfurt
Feds officials reaffirmed their tough position on inflation, saying that US core inflation, excluding volatile food and energy costs, has moved up to, or beyond, the upper end of the range. Concerns over a slowdown in US demand with interest rates now seen rising by possibly two quarter point increases struck metals and decreased oil prices below $69 a barrel.
Ivaylo
20 Jun, 2006
Metals
Most investors remain neutral to bearish and are opting either to observe the action from the sidelines or to purchase smaller amounts in a quest to average their costs for the long term. Dealer selling following humble gains in the dollar and light selling in the energy sector have put pressure on the metals again.
123jump.com Staff
19 Jun, 2006
New York City
Market averages came under selling pressures as traders worried of rising interest rates. On light trading volume decliners led gainers by a margin of three to one. Nokia and siemens have agreed to form a joint venture to merge there phone equiment divisions with a total asset value of $30 billion. Oil and gold fell. CarMax and Circuit City reorted better than expected earnings. Home builders association reported decline in confidence among builder community. The index fell to 11-year low.
Elena
19 Jun, 2006
Frankfurt
European markets ended higher Monday. The strongest market drive was the tech sector, which advanced on news that mobile-phone giant Nokia and industrial conglomerate Siemens would merge their phone-equipment units into an equally owned joint venture company. Nokia shares rose 4.1% in Helsinki, while Siemens surged 6.7% in Frankfurt. The German DAX 30 soared 1.2%, the French CAC 40 climbed 0.7%, and London FTSE 100 rose 0.5%.
Elena
19 Jun, 2006
New York City
Stocks erased early gains on Monday as declines in energy shares outweighed gains for major companies. Oil prices declined and the U.S. dollar also gained vs. the yen, but the market lacked direction, with no new economic data to feed speculation over further interest rate moves. In corporate news, Nokia jumped 71 cents to $20.68 and Siemens surged $5.22 to $85.02 on agreement to form a joint venture.
Elena
19 Jun, 2006
Mumbai
The Indian benchmark gained in the latter part of trade in a highly volatile trading, after a sluggish start. In the last hour of the session demand for large-cap stocks supported the small-cap and mid-cap stocks rally helping the market breadth and averages to end on a positive note.
