Ivaylo
19 Jul, 2007
New York City
Asian markets finished higher on Thursday as miners surged on higher copper prices. Financial stocks led the rally in Japan, while HK advanced on strong first-half economic results. Banks and LG Electronics boosted the market in South Korea, and Australia settled higher on banks and resource stocks.China was little changed as reports showed that inflation was the highest in three weeks.
Ivaylo
19 Jul, 2007
New York City
Sensex on a firm rally surged on buying in telecom, cement, energy, and auto sectors. Reliance Industries led the gainers, Infosys, Bajaj Auto and Tata Motors also rallied. There were only four decliners in the Sensex with Hindustan Unilever leading decliners. The Finance Minister said that India will continue its tight monetary policy in an effort to curb inflation. Tata Motors, Baja Auto, and Infosys are hunting for overseas acquisitions.
Ivaylo
19 Jul, 2007
New York City
European markets gained for the first time in four days as strong earnings from SAP boosted the indexes, while Vodafone advanced as it announced that it added more subscribers than expected. Miners were also upbeat on higher copper prices. The market in Finland was the only decliner, while all the other were in positive territory. Of the three major markets, U.K. FTSE 100 index gained 0.8%, while the German DAX 30 index rallied 1% and the French CAC-40 index advanced 0.8%.
Ivaylo
19 Jul, 2007
New York City
Gold futures advanced Wednesday after Federal Reserve Chairman Ben Bernanke said that inflation is still an issue to consider, and as the dollar extended its recent decline. Other commodity markets closed mostly higher, with sharp gains in energy prices and agriculture futures.
123jump.com Staff
18 Jul, 2007
New York City
Sharp sell-off at the opening continued till the mid-day in New York -trading. Near 1% loss at mid-day left major markets in Europe with a loss of 1.5%. Falling dollar and oil above $75 did not help either. Weak earnings from Pfizer, Altria, and several airlines left most investors guessing earnings for the season. TAM Air lost 10% after one of its aircraft burst into flames and killed 200 people in Sao Paolo, Brazil.After the close, IBM reported increase of 8.6% in revenue and 12% in earnings.
123jump.com Staff
18 Jul, 2007
New York City
Oii trades near $75 per barrel adding to the weakness in the trading in New York. Worries related to U.S. mortgage bonds, weak earnings from Pfizer, Altria and airlines left major averages with 1% loss. Germany, France and Swiss markets lost more than 1.5% in sympathy with the New York trading. Spain based Altadis, cigarette maker, agreed to a buyout from Imperial Tobacco for $17.91 billion. Ericsson received $2 billion contract from Bharti in India.
123jump.com Staff
18 Jul, 2001
New York City
New York averages fell in the first thirty minutes of trading. Consumer price index for June was reported up 0.2% and housing starts for the month increaed 2.3%. However, housing permits declined 7.5%. J P Morgan earnings jumped on higher investment banking fees. Pfizer reported lower than expected earnings. Altria sales increased 9.7% but earnings edged up a fraction.
Ivaylo
18 Jul, 2007
New York City
The benchmark index saw a heavy volatile session with the Sensex going in and out of positive zone, especially in the last hour of trading. Metal, cement and real estate stocks advanced, while capital goods and sugar stocks declined. The best performer on the market were Hindalco and Bharti Airtel, while Larsen & Toubro and ONGC lost the most. Unitech announced it plans to invest $720 million in four years building 28 hotels with partners including Marriott International.
Ivaylo
18 Jul, 2007
New York City
Bid talk around supermarket chain J Sainsbury and stronger-than-expected net profit forecast from Heineken could not brighten sombre sentiment in Europe, arising from the re-emergence of worries about U.S. subpirme rates. Man Group and Tate & Lyle eased and tech stocks also disappointed after weak reports from Intel and Yahoo. All western markets were lower by mid-day.
Ivaylo
18 Jul, 2007
New York City
Commodities saw a broad decline on Tuesday with oil futures retreating from gains made earlier. The weakness in the energy market extended into the precious metals market. Gold futures ended down, following first the dollar and then oil prices. Copper prices dipped as tensions arising from strike action seem to fade. Corn and soybeans gave up gains in Chicago.
123jump.com Staff
17 Jul, 2007
New York City
After the close in New York trading, flood of earnings continued. Yahoo reported earnings of 11 cents per share, flat from a year ago on revenue gain of 8%. The company free cash flow and net income declined. Intel reported 44% jump in earnings but gross margins declined to 46% from 52% a year ago. The company guided revenue between $9 and $9.6 billion in the third quarter. Intel declined $1 and Yahoo fell 75 cents in after hours trading.
123jump.com Staff
17 Jul, 2007
New York City
Averages in the New York trading did not dispaly the underlying volatility in the market. Earnings from key companies like Merrill Lynch and Wells Fargo helped stocks but Coca Cola and Johnson & Johnson struggled. Most companies are reporting flat or better than expected earnings. A measure of wholesale inflation in the U.S. fell in June. European and Asian markets closed lower. oil traded above $74 per barrel. Copper and gold lost a fraction.
123jump.com Staff
17 Jul, 2007
New York City
Lyondell Chemical has agreed to $12.66 billion or $48 per share buyout from Netherlands based Basell. The total value of the deal including the debt will be $19 billion. The deal to acquire Lyondell with $22 billion sales, is the third deal, and largest in the commodity chemical segment this year. Earlier, GE managed to sell its plastics divison to Saudi Basic Industries for $11.6 billion cash and Huntsman was sold for $6.51 billion or $9.6 billion including debt to Apollo Management.
123jump.com Staff
17 Jul, 2007
New York City
Johnson & Johnson reported earnings of $1.05 per share or $3.1 billion, 9.3% increase on 13% rise in sales. The recent acquistion of Pfizer consumer health division helped the company to keep the revenue growth but the pharmaceuticals and medical devices units struggled. The stock fell 2% after the earnings report.
123jump.com Staff
17 Jul, 2007
New York City
After one hour of trading in New York, market averages are maintaing positive bias. Merrill Lynch earnings jumped 31% on 19% rise in sales on of higher fees from asset management and merchant banking and brokerage trading volume. Wells Fargo earnings jumped 9% on higher commercial loan volume. Coca Cola reported flat earnings. Charles Schwab earnings increased 16%. Asian markets closed lower but Shanghai jumped 2%.
