123jump.com Staff
09 Jun, 2006
New York City
Market average remained under pressure for the most part of the day. In late afternoon trading averages trade near the worst level of the day. Worries of rising inflation and interest rates persisted in the market. International trade defict in April grew to $63.4 billion as import of petroleum products, automobiles and consumer goods rose. At the current rate of growth in deficit, annual deficit is expected to surpass $770 billion. Single largest deficit was registered with China.
Elena
09 Jun, 2006
Frankfurt
European markets finished Friday session sharply higher on strong buying interest in technology and mining stocks. Shares of STMicroelectronics, Infineon Technology, Philips Electronics, and Nokia climbed after Texas Instruments raised its Q2 financial targets. Miners like Rio Tinto, Anglo Saxon, and Xstrata moved sharply higher. The German DAX 3-0 rose 1.7%, the French CAC 40 climbed 1.8%, and London FTSE 100 surged 1.7%.
Elena
09 Jun, 2006
New York City
Stocks moved firmly to the upside with the Nasdaq outperforming the other two major averages on strong support from technology and biotechnology stocks. National Semiconductor was one of the semiconductor sector''s best performances after the chip maker reported adjusted Q4 earnings that exceeded analyst estimates. The airline sector also advanced, led by Continental, rising by 3.8%.
Elena
09 Jun, 2006
Mumbai
The recovery in the market was broad-based on high volume of block trading. Heavy purchases by domestic funds and retail investors helped stocks recover lost grounds, supported also by the Reserve Bank of India
Elena
09 Jun, 2006
New York City
U.S stocks opened near the flat line. The Commerce Department said that the trade deficit widened to $63.4 billion in April from a revised $61.9 billion in March, below estimate of $65 billion. Meanwhile, the Labor Department said high oil prices drove up May import prices by 1.6%, or 0.6% excluding petroleum, while export prices excluding agriculture rose 0.6%.
Elena
09 Jun, 2006
New York City
U.S stock futures pointed to a positive start, trying to gain ground after its recent sell-off on fears about rising global interest rates. In economic news, the Commerce Department said that the trade deficit widened to $63.4 billion in April from a revised $61.9 billion in March, less than economists had expected. Import prices in May rose 1.6%, much more than the expected 0.7% growth. Excluding petroleum imports, import prices rose by a more modest 0.6%.
Elena
09 Jun, 2006
New York City
The deal would be completed after receiving the approval of shareholders in the next two months. Cathay Pacific said in a published notice it would pay Dragon Airlines shareholders HK$820 million ($105.6 million) in cash, with the rest of the acquisition funded by new Cathay shares.
Ivaylo
09 Jun, 2006
New York City
Tokyo
Ivaylo
09 Jun, 2006
Frankfurt
On Thursday, European stocks fell to their lowest levels for six months. But with New York experiencing a highly volatile trade and closing in positive territory, the European bourses were given a boost. The dollar gave further support steadying against the euro after the ECB left the markets with the impression that it was in for a modest correction of interest rates. Thursday
Ivaylo
09 Jun, 2006
Metals
The powerful upward move of the dollar continued to erase gains in gold and silver, based on premises that the Fed''s interest-rate tightening cycle isn''t finished yet and that the Fed is committed to fighting inflation, having as a result funds liquidating positions in gold.
123jump.com Staff
08 Jun, 2006
New York City
Global rates are on the rise. ECB raised benchmark rate by 25 basis points to 2.75% but Bank of England left rates unchanged to 4.5%. South Korea raised overnight call rate by a quarter percentage point to 4.25%. Turkey raised rates by 1.75% to 15% and Thailand increased by 25 basis to 5%. South Africa raised rates by 50 basis points to 7.5%. Rise in rates pressured metals and oil prices. Markets in the U.S. lost more than 1% at its worst level. Dow recovered from 170 point loss to close up.
123jump.com Staff
08 Jun, 2001
New York City
Global rates are on the rise. ECB raised benchmark rate by 25 basis points to 2.75% but Bank of England left rates unchanged to 4.5%. South Korea raised overnight call rate by a quarter percentage point to 4.25%. Turkey raised rates by 1.75% to 15% and Thailand increased by 25 basis to 5%. South Africa raised rates by 50 basis points to 7.5%. Worldwide rate hike pressured commodities prices.
Elena
08 Jun, 2006
Frankfurt
European stocks closed at their lowest levels for the year. The steep decline reflected a rate rise by the European Central Bank and fears over rate-tightening moves in the world economies. Mining and oil stocks were the most notable losers with BHP Billiton down 6% and BP falling 3.1%. The German DAX 30 tumbled 2.9%, the French CAC 40 slid 2.9%, and Londoon FTSE 100 dropped 2.5%.
Elena
08 Jun, 2006
New York City
In late morning trading stocks moved sharply lower, reflecting lingering concerns about the outlook for interest rates. U.S. crude oil futures fell almost 2% below $70 a barrel, dragging energy companies lower. Shares of Exxon Mobil Corp. fell 1%, ConocoPhillips dropped 1.7%, and Chevron lost 1.6%. Gold stocks moved sharply down as the price of the precious metal dropped $16.40 to $616.20 an ounce.
Elena
08 Jun, 2006
Mumbai
Lack of direction in the U.S. rates have roiled global markets, Indian and Japan were down close to 5% in the session. Small-cap and mid-cap stocks faced wave of selling from domestic investors. Fear that the rates will rise in Europe and Japan kept investors on the edge. Trading was highly volatile with Bajaj Hindustan plunging 20%. Indian Hotels now trades at 50% below the peak in May 2006.
