Elena
11 Jul, 2006
Mumbai
The Sensex experienced weak session as it traded in the red for most part of the day. Auto and steel sector witnessed intense selling pressure, as investors took profit, while cement stocks bucked the downtrend and finished higher on the expectations of firm prices.Volatility was high, the turnover was slightly higher than yesterday
Elena
11 Jul, 2006
New York City
Stocks started the trading session in the negative after a disappointing revenue report by Alcoa and a profit warning by Lucent Technologies. In released earnings news, Pepsi Bottling Group, producer of Pepsi-Cola beverages, reported Q2 net income of 61 cents a share, against 59 cents last year on 10% higher revenue. LG.Philips LCD reversed to a loss in Q2 of 322 billion won compared with a profit of 41 billion won in the same period last year.
Elena
11 Jul, 2006
New York City
Stock futures pointed to a weaker opening, reflecting concern that profit and sales figures from Alcoa and Lucent Technologies may be a harbinger of a disappointing second-quarter earnings season. Privately held apparel maker Levi Strauss & Co. posted Q2 profit jumped 33% due to a tax benefit. The company said net income rose to $40.2 million from $26.8 million a year ago.
Ivaylo
11 Jul, 2006
New York City
Major Asian stocks settled lower Tuesday, as investors moved to the sidelines after a mixed session in New York and growing uneasiness about interest rates ahead of the policy meeting of the Bank of Japan which starts Thursday. The lack of willingness to push markets higher, before the policy meeting of the Bank of Japan, ends Friday alongside the impulse to gain from retail traders after a dramatic rebound Monday caused the broader market fall amid weak trading volumes.
Ivaylo
11 Jul, 2006
New York City
The technology weakness followed a similar move overnight in the U.S. market, where stock indexes ended Monday after weakness in technology shares pulled the indexes down. Lucent said that revenue would come much lower than expected, thus weighing heavily on its recent acquirer, Frances Alcatel. The U.K. FTSE 100 index slipped 0.2%, the German DAX Xetra 30 index declined 0.6% and the French CAC-40 index lost 0.3%.
Ivaylo
11 Jul, 2006
Metals
The loosening geopolitical pressure and falling oil prices are forcing the yellow metal down, which will likely remain volatile in the near term due to the upcoming Group of Eight summit in St. Petersburg, Russia late next week and the North Korea talks. The volatility is expected to calm down and the metal is mainly to trade sideways into the summer.
Elena
10 Jul, 2006
Frankfurt
European markets closed in the positive, reflecting robust opening on Wall Street ahead of the second-quarter earnings season and gains for L
Elena
10 Jul, 2006
New York City
EMC Corp., the biggest maker of corporate data storage equipment, announced its quarterly earnings fell short of expectations as it misjudged demand and did not stock enough inventories for a new product. EMC expects to report on Friday net income of 12 cents a share on revenue of about $2.575 billion, vs. previous forecast of 13 cents a share on sales of at least $2.66 billion.
Elena
10 Jul, 2006
New York City
Stocks rallied Monday as after weeks of volatile trading on confusion about interest rates, investors gained optimism for a strong Q2 earnings session. A few multibillion-dollar acquisitions also helped to generate positive sentiment. Kraft Foods Inc. agreed to buy the Spanish and Portuguese units of United Biscuits for $1.07 billion and Kimco Realty Corp. agreed to acquire Pan Pacific Retail Properties Inc. for $2.9 billion.
Elena
10 Jul, 2006
New York City
The market rebounded today after a sharp fall in the previous two trading sessions on strong Asian markets, lower crude oil price and short-covering in derivatives. Volatility was high as the benchmark Sensex moved in the trading range of 243 points. IT stocks soared on hopes of an upward revision in earnings and revenue guidance and cement shares advanced on hopes of strong first-quarter results.
Elena
10 Jul, 2006
New York City
Stock markets opened higher on optimism of strong earnings season. Helen of Troy Ltd. reported Q1 net earnings sank to 21 cents a share, from 33 cents a share last year despite net sales growth, missing analysts
Elena
10 Jul, 2006
New York City
U.S. stock market futures moved higher ahead of the start of second-quarter earnings season, with aluminum-producing giant Alcoa scheduled to announce its results after the closing bell. General Electric, PepsiCo and Texas Instruments are also due to report quarterly earnings this week. In merger deals, Centro Watt, a U.S.-Australian joint venture, agreed to buy Heritage Property Investment Trust for $3.2 billion, or $36.15 a share.
Elena
10 Jul, 2006
New York City
The two sides are trying to reach an agreement by the end of 2006 aiming to slash tariffs and other trade barriers between the two countries. The talks received strong resistance from South Korean labor groups, especially farmers who have protested against any reduction in protections for agriculture, particularly rice.
Ivaylo
10 Jul, 2006
New York City
Asian markets seemed to have shrugged off the North Korea
Ivaylo
10 Jul, 2006
New York City
US stocks ended last week lower as investors grew uneasy over record high oil prices, rising labour costs and signs of economic softening. Investors appear to be worried that the July unemployment report may show rising wage inflation, which could force the Fed to hike the fed funds target at its August meeting. The U.K. FTSE 100 index declined 0.1%, the German DAX Xetra 30 index lost 0.1% and the French CAC-40 index sank 0.2%.
