Elena
20 Feb, 2007
New York City
U.S. stock futures pointed to a lower market opening Tuesday after the long holiday weekend. The pre-market sentiment was hurt by disappointing quarterly results from Dow component Home Depot which dropped 2% helpeing to offset news of possible merger of the nation''s two big satellite radio stations Sirius Satellite Radio and XM Satellite Radio Holdings. Home Depot reported a 28% drop in Q4 profit to $925 million, or 46 cents a share, down from $1.29 billion, or 60 cents last year.
Elena
20 Feb, 2007
New York City
The combined company is valued at $13 billion, including about $1.6 billion in debt. On condition that the deal is approved by shareholders and regulators, the shareholders of each company will divide the stake equally. FCC Chairman Kevin Martin said that the companies have to prove that the deal would be in the public interest, with consumers having more choice and affordable prices.
Ivaylo
20 Feb, 2007
New York City
In trading today, the market dipped on selling pressure in auto, engineering, telecom and banking sectors. The market-breadth was weak and trading was volatile. Squaring of positions ahead of the expiry of February 2007 derivative contracts, due this Thursday, also weighed on sentiment. ONGC, Grasim and Reliance Energy led the decliners today, while among the few gainers were Ranbaxy and ITC. There are worries that the government may raise short-term capital gains tax on sale of shares. [
Ivaylo
20 Feb, 2007
New York City
European markets were lower on Tuesday after real estate companies eased on reports of slowing growth in property investment markets, while oil companies declined after crude prices dipped overnight. EMI added as there are reports of bid interest from Warner. Some auto makers also advanced. By mid morning, Frankfurt Xetra Dax shed 0.1%, the CAC 40 in Paris lost 0.3%, while London FTSE 100 was flat.
Ivaylo
20 Feb, 2007
New York City
Gold edged higher on Tuesday after surging to a seven-month high on talks that the dollar may weaken and as crude oil continues to trade above $55 a barrel. Oil in New York has traded between $56.62 and $60.80 this month as cold weather and higher-than-normal gasoline demand pushed fuel consumption to a 14-month high. Copper advanced after a magnitude 5.5 earthquake hit the largest mining province in Chile, the biggest producer of the metal in the world.
Elena
19 Feb, 2007
New York City
European stocks hit multi-year highs on Monday, boosted by strength in the mining sector, a continuous advance in DaimlerChrysler and deal-inspired gains from Swiss reinsurer Converium Holdings. DaimlerChrysler led autos higher with a rise of 3.6% on speculation about the future of its Chrysler unit. Among mining stocks, Rio Tinto added 1% and BHP Billiton climbed 1.7%. The French CAC-40 advanced 0.5%, the German DAX 30 rose 0.4%, and the U.K. FTSE 100 gained 0.4%.
Ivaylo
19 Feb, 2001
New York City
The FTSE 100 is trading in positive territory on Monday near a six-year high on reports of new bid interest in J Sainsbury and expectations for a $4 billion capital return from Anglo American. Anglo American leads the advancers ahead of its full year results due on Wednesday. Lloyds TSB gained on a possible sale of one of its assets. Utilities were leading the decliners. The benchmark index, the FTSE 100, was up 29 points at 6,448.4, its highest level since November 2000.
Ivaylo
19 Feb, 2007
New York City
Asian markets closed mostly higher Monday. Many markets were closed for Lunar New Year celebrations and investors also awaited a Japanese interest-rate decision later in the week. China, Taiwan, South Korea and HK were all closed for the celebrations. South Korea reopens on Tuesday, while HK, Singapore and Malaysia on Wednesday. In Japan, retailers and steelmakers gained on speculation about more mergers and acquisitions.
Ivaylo
19 Feb, 2007
New York City
Banking sector stocks led a broad based rally in the market trading. ICICI Bank led the gainers followed by UTI, SBI and other regional banks. Hero Honda and Gujarat Ambuja led the decliners. The government intends to relax limits on the compulsory reinsurance by general-insurance companies. Tata Group is preparing to launch the largest Indian international bond issue.
Ivaylo
19 Feb, 2007
New York City
European stocks were higher on Monday, with DaimlerChrysler leading the carmakers after news it was in talks with General Motors and other potential bidders over the sale of its US Chrysler division. Food retailers were also higher, led by Sainsbury of Britain after reports of further interest from potential bidders. In early trade, Frankfurt Xetra Dax added 0.3%, the CAC 40 in Paris gained 0.2% and London FTSE 100 climbed 0.3%.
Ivaylo
19 Feb, 2007
New York City
Higher oil prices supported gold and silver to finish with modest gains Friday after profit-taking early in the session weighed on prices. April gold reached $668.80, its low for the day, less than half an hour into the session. Traders blamed the early pullback on profit-taking ahead of a three-day U.S. Presidents Day weekend after gold was not able to extend Wednesday six-month high of $376.60. A rebound in crude oil helped gold and silver bounce back.
123jump.com Staff
16 Feb, 2007
New York City
Market averages were on the defensive at opening on reports on housing starts and inflation. Housing starts fell 14.3% in January, ten-year low. Producer Price Index fell 0.6% in January but core inflation rose 0.2%. Microsoft fell 2% on sales warning. Campbell Soup rose 7% on better than expected profit. Daimler Chrylser rose 4% on potential merger talks with GM.
Elena
16 Feb, 2007
New York City
European stocks closed moderately down at the end of the week, pressured by a weak opening of U.S. markets and losses for Spanish banking giant BBVA. Shares in BBVA lost 2.4% in Madrid after it announced a deal to buy Compass Bancshares for $9.6 billion and said it would issue 196 million shares to fund the purchase. The U.K. FTSE 100 lost 0.2%, the German DAX 30 lost a fraction of a percentage point at 6,957.07 and the French CAC-40 lost 0.1%.
Elena
16 Feb, 2007
New York City
U.S. stock markets turned to consolidation of recent gains ahead of a three-day weekend. Stocks were pressured by a plunge in new housing starts and a sales warning from Microsoft Corp. Homebuilding stocks moved notably lower. Shares of Hovnanian Enterprises lost 1%, Champion Enterprises dropped 2%, as well as homebuilders KB Home declined 1.7%, and Toll Brothers slipped 1.1%.
Elena
16 Feb, 2007
New York City
The Department of Commerce reported that housing starts plunged unexpectedly 14.3% to an annual rate of 1.408 million units in January from a revised 1.643 million unit rate in December. According to another report released by a trade group for real estate agents, prices for single-family homes fell in more than half of the nation
