Ivaylo
28 Nov, 2006
New York City
London markets opened to a volatile session on Tuesday due to continued concern about the weak dollar and the effect on the US economy. ITV is the best performer following the shock arrival of Michael Grade as its new executive chairman. The appointment is seen as a major coup for the commercial broadcaster. Scottish Power was flat despite agreeing a deal with Iberdrola of Spain. By late morning, the FTSE 100 was down 14 points, or 0.2%, to 6,036.1.
Elena
28 Nov, 2006
New York City
U.S. stock market futures were sent lower by data, showing a larger-than-expected decline in demand for durable goods orders. As another sign of a slowing economy, the Commerce Department reported durable goods orders fell 8.3% to a seasonally adjusted $210 billion, reflecting a big drop in demand for commercial airplanes. The 8.3% drop was the largest one-month decline since a 14% plunge in July 2000.
Elena
28 Nov, 2006
New York City
Europe''s third-largest budget airline will receive a total of 85 new Boeing planes worth $5.7 billion at list price between 2007 and 2011, including an earlier order for 25 jets. The airline also issued a detailed Q3 profit report, showing that earnings advanced 26%. Company
Ivaylo
28 Nov, 2006
New York City
Asia was sharply lower Tuesday, with share indexes in Australia and Japan leading the regional decline as investors neglected export shares such as Honda Motor and Matsushita Electric due to worries over the U.S. economic outlook and a sharp decline on New York stock exchange. Hong Kong stocks plummeted, with the blue-chip Hang Seng Index suffering its biggest one-day point and percentage decline in five years.
Ivaylo
28 Nov, 2006
New York City
Dollar weakness continued to concern markets as such as automakers and technology companies continued to lose ground as both the euro and pound held their ground against the dollar. A weaker dollar is usually negative for companies that export to the U.S. because they receive less revenue and become less competitive. The U.K. FTSE 100 index lost 0.48%, the German DAX Xetra 30 index declined 0.43%, while the French CAC-40 index lost 0.64%.
Ivaylo
28 Nov, 2006
New York City
The dollar and in turn gold appear be taking a brief pause from their big moves late last week ahead of a speech on Tuesday by Federal Reserve Chairman Ben Bernanke. The possibility of further dollar weakness should continue to support buying of gold. Copper futures closed higher Monday after catching up to gains seen in the London market at the end of last week. Platinum and palladium settled lower.
123jump.com Staff
27 Nov, 2006
New York City
Market averages closed lower on worries on holiday sales, economic growth, falling dollar and rising oil price. Wal-Mart fell 3% on weaker sales during Thanksgiving Weekend draggig with it other discount retailers. Deep discounts in electronics drove consumers to stores. Ford Motor Company to borrow as much as $18 billion to pay for lay-offs and plant closures. Ford stock falls more than 4%. Silver and Gold trade near record levels. Google drops 4% on specualtion and critical comments in media.
Elena
27 Nov, 2006
New York City
European stock markets closed steeply lower Monday, largely due to the continuously weakening dollar which hurt exporter-oriented issues. However, German drugmaker Bayer helped limit the downbeat trend, rising 2.2% on better-than-forecast results. The German DAX 30 tumbled 1.8%, the French CAC 40 slipped 1.5%, while London FTSE 100 dropped 1.2%.
Elena
27 Nov, 2006
New York City
U.S. market averages sharply dropped, as a disappointing sales forecast from Wal-Mart along with a rise in crude oil prices raised concerns about consumers'' holiday spending. Further downward pressure came from the continuously falling dollar, as it weakened demand for U.S. investments. The Nasdaq was pressured by 2% decline in Google shares, while a drop of 2% for Dow component Ford Motor weighed on the blue-chip index.
Elena
27 Nov, 2006
New York City
The benchmark index advanced in a firm trading session with positive market-breadth, aided also by the strong finish of Asian markets and short covering in derivatives before the expiry of November derivatives. Cement, banking, energy and IT stocks surged, while pharma and oil stocks slipped. ACC, Gujarat Ambuja and NTPC soared, while Dr Reddy led the decliners. India announced on Monday 3.2 million tonnes of imported wheat had so far arrived at its ports vs. the contracted 5.5 million tonnes.
Elena
27 Nov, 2006
New York City
U.S. stocks reopened lower after the Thanksgiving holiday, dragged down by concerns about the strength of the retail sector, following a same-store sales decline at Wal-Mart Stores Inc. The 0.1% drop also raised worries about the strength of consumer spending during the holiday season. The stock lost 1.5% in early trading. At the same time, early reports showed 6% higher retail sales on Black Friday, almost $9 billion more than last year.
Ivaylo
27 Nov, 2006
New York City
Early gains were quickly swept away this morning as BAE Systems tumbled on talk that a big Saudi order may be scrapped, while weak energy issues cancelled housebuilding M&A gains. On the plus side, Tour operator MyTravel has confirmed that it is in talks to acquire package holiday business of rival First Choice, sending both companies higher. By mid-day, the FTSE 100 was down 26.9 points, or 0.5%, to 6,095.6, its lowest level since early October.
Elena
27 Nov, 2006
New York City
U.S. stock market futures declined on Monday on concerns about a weak retail environment after a disappointing sales forecast from Wal-Mart Stores Inc. Shares of the world''s biggest retailer dropped 0.7% before the bell, as November same-store sales fell 0.1%. Shares of discount retailer Target fell 2.5%, while department stores J.C. Penney and Sears Holdings slipped about 1.5%.
Elena
27 Nov, 2006
New York City
Wal-Mart tied up with India''s business conglomerate Bharti Enterprises Ltd. to set up hundreds of stores across the country. However, the financial terms of the deal were not revealed. A memorandum of understanding for a joint venture and a franchise agreement had been signed. On saturday Wal-Mart Stores said that U.S. same-store sales in November fell 0.1% from a year ago, the first monthly same-store sales drop since 1996.
Ivaylo
27 Nov, 2006
New York City
Most Asian markets ended higher Monday, with Tokyo stocks lifted by banks and retailers, and Taiwanese shares rising to a six-year high. Shares in Hong Kong, however, finished slightly lower. Tokyo erased early losses to end higher as gains in Mitsubishi UFJ Financial and Inpex Holdings countered weakness in leading exporters after the yen hovered near multi-month highs against the U.S. dollar.