Elena
21 Nov, 2006
New York City
U.S. stocks declined in late morning, as trading slowed ahead of the Thanksgiving holiday. However, gains by Boeing Co. provided support for the Dow. Company''s shares rose 1% after winning a $5.5 billion order for 25 planes from Korean Air Co. Google topped $500 for the first time after the Internet search engine announced discounts for online shoppers, using its payment service during the holiday season. It traded up 1.7% at $503.50.
Elena
21 Nov, 2006
New York City
The markets rose to a record close on Tuesday as investors bought cement and software stocks on hopes of good profit growth, with a strong debut for Info Edge also boosting sentiment. ITC led the gainers, together with Bharti Airtel and Reliance Energy. Infosys and HDFC led the decliners. Several small-caps and mid-caps also surged today. India and China signed a number of trade agreements today. The number of telecom subscribers in India will reach 250 million by end of 2007.
Elena
21 Nov, 2006
New York City
Stocks opened little changed Tuesday, with Boeing Co. supporting the Dow after the aerospace company received a $5.5 billion order for planes from Korean Air which is buying 25 passenger and freighter aircraft. The stock rose 78 cents to $89.90. Medtronic was upgraded by a number of analysts after the company reported its quarterly profit came in above expectations. The stock jumped 7%.
Ivaylo
21 Nov, 2006
New York City
Lonmin was a leading advancers in London on Tuesday, as platinum hit a new high. The increase was due to talk that a new exchange traded fund was being created in platinum that will allow the metal to be traded more easily. Utility stocks also gained on reports that Spanish utility Iberdrola was set to make a takeover bid for Scottish Power. Demand from jewellers also rises in the run up to Christmas. In afternoon trade, the FTSE 100 was up 18.2 points, or 0.3%, to 6,222.7.
Elena
21 Nov, 2006
New York City
U.S. stock futures moved higher. Nordstrom posted Q3 profit rise of 26%, benefiting from higher margins and brisk same-store sales. The company earned 52 cents a share, up from 39 cents a share a year ago, above estimates of 51 cents. Total sales increased 12%, while same-store sales rose 11%. Medtronic reported Q2 earnings decline of 59 cents a share, down 16.6% from 67 cents a share last year due to higher costs. However, revenue for the quarter jumped 11%, exceeding estimates.
Elena
21 Nov, 2006
New York City
U.S. stock market futures were trading near the flat line after a six-session winning streak for the Dow Industrials Index was snapped on Monday, despite several mega merger deals totaling about $70 billion. However, Dow components Boeing and Verizon are seen as potential gainers for the blue-chip index. Verizon was upgraded at Credit Suisse to outperform from neutral. Boeing is selling 25 planes to Korean Air worth $5.5 billion.
Ivaylo
21 Nov, 2006
New York City
Asian stocks recovered on Tuesday, as property stocks supported Hong Kong and Singapore, while the Nikkei in Japan gained slightly as large-caps rebounded from the losses of previous session. Advances by technology companies in Japan were held back by declines in banking and construction stocks, while a drop in South Korean auto makers countered a rise in the telecommunications sector. Australia and New Zealand also gained, as well as Taiwan.
Ivaylo
21 Nov, 2006
New York City
European stocks markets advanced on Tuesday as banks rallied, while luxury goods groups rebounded after data showed strong exports of Swiss watches. Results from Icap and British Land and an advance in the shares of stock exchange operator Deutsche Boerse also boosted the financial services sector. By mid morning, the FTSE 100 in London climbed 0.1%, Frankfurt Xetra Dax gained 0.2%, and the CAC 40 in Paris added 0.2%.
Ivaylo
21 Nov, 2006
New York City
Industrial demand for platinum usage in catalytic converters and electronics has been supportive for the market. There has been a steady influx of demand, while supply is rather tight, relative to demand. Demand for auto catalysts was forecast to rise 15% this year. Gold, as well as silver slipped yesterday, while palladium advanced. Arabica coffee and raw sugar settled higher, while oil prices declined below $59 a barrel.
123jump.com Staff
20 Nov, 2006
New York City
Blackstone Group, private equity group agreed to acquire Equity office Properties for $20 billion and assuming the debt of $16 billion. Bank of America agreed to purchase U.S. Trust from Charles Schwab for $3.3 billion to boost its private banking business. Nasdaq, the electronic market for tech and small companies, said that it has raised its stake in London Stock Exchnage to 28.75% and offered $5.1 billion. LSE rejected the offer and Nasdaq plans to take the offer directly to shareholders.
Elena
20 Nov, 2006
New York City
European stock markets closed in the positive Monday, lifted by merger activity in the metal and exchange sectors and weaker crude oil prices. The German DAX 30 led the regional gainers with an advance of 0.62%. The index was boosted by 2% gain for defensive utility stocks RWE and E.On, as well as lower oil. The French CAC 40 gained 0.28% and London FTSE 100 added 0.2%. Oil sensitive stocks contributed to the advance, with airline Air France-KLM and cruise operator Carnival moving higher.
Elena
20 Nov, 2006
New York City
Stocks gained some ground in late morning trading, helped by a series of merger deals. Charles Schwab, brokerage and financial services firm, agreed to sell its wealth-management subsidiary U.S. Trust to Bank of America Corp. for $3.3 billion in cash. The deal is expected to close on March 31. Charles Schwab rose 1.9%, while Bank of America shares gained 3 cents to $54.88.
Elena
20 Nov, 2006
New York City
The benchmark index managed to stage a remarkable comeback in the latter part of trading after trading in negative territory almost throughout the session. It was tech stocks which were at the forefront of the reversal, with Bharti Airtel, spurting more than 6%, and leading the advance. HDFC and Infosys were the other big gainers. Cement maker ACC and banks led the decliners. Indian rupee took a plunge against dollar.
Elena
20 Nov, 2006
New York City
The London Stock Exchange rejected a fresh takeover bid from The Nasdaq Stock Market which made its second attempt to acquire the company. LSE said that the $5.1 billion bid ''substantially undervalued'' the London Market. The offer represents a premium of 54% on LSE''s closing price March 10, the day before the LSE said it had received an approach, and was the minimum bid it could make under British takeover rules.
Ivaylo
20 Nov, 2006
New York City
Broadcaster ITV was the worst performer after news that satellite broadcaster BSkyB has taken a 17.9% stake in the group, raising fears that it could scupper a takeover by NTL. The mining sector was upbeat on hopes of takeover activity after US peer Freeport-McMoRan Copper announced plans to buy copper miner Phelps Dodge. In the mining sector, Antofagasta led the advancers. By mid morning, the FTSE 100 in London lost 24.7 points, 0.4%, to 6,167.2.
