Ivaylo
09 Nov, 2006
New York City
The Bank of England raised the base rates from 4.75% to 5%, the highest level for five years. Pharmaceutical stocks were among the leading fallers amid fears that the victory for the Democrats in the US mid-term elections would hit the sector. Mining stocks also plunged, while electricity generators advanced. The FTSE 100 index was down 22.8 points at 6,216.2, from a five-year high in the previous session.
Elena
09 Nov, 2006
New York City
U.S. stocks indicated a flat market opening Thursday, reflecting rising oil prices and positive Cisco Systems quarterly earnings. Oil futures rose 38 cents to $60.22 a barrel. Cisco Systems rallied 8.6% in pre-open trading on better-than-forecast 28% quarterly profit rise to 26 cents a share, up from 20 cents last year, boosted by 25% sales rise.
Elena
09 Nov, 2006
New York City
Graceway Pharmaceuticals Inc. agreed to acquire 3M''s pharmaceutical operations in the U.S., Canada, and Latin America for $875 million. Meda AB agreed to buy 3M''s pharmaceutical business in Europe for $857 million. And Ironbridge Capital and Archer Capital will buy the Asia-Pacific operations, including Australia and South Africa, for $349 million.
Ivaylo
09 Nov, 2006
New York City
Asian stocks finished mixed Thursday, with Hong Kong rising on gains in oil-related, property and tech stocks, but stocks in Japan and Australia suffered by concerns over rising interest rates. In Tokyo, advances in the auto and technology sectors failed to counter concerns the Bank of Japan may raise interest rates. In Sydney, the market declined after the central bank raised rates a quarter point on Wednesday.
Ivaylo
09 Nov, 2001
New York City
European shares gained ground in early deals on Thursday as gains from companies such as industrial conglomerate Siemens and brewer Inbev after reporting earnings outweighed some weakness from health care stocks after reports emerged that the Democrats have won the U.S. Senate as well has the House of Representatives. By mid morning, the FTSE 100 in London nudged slightly lower, Frankfurt Xetra Dax gained 0.2% and the CAC 40 in Paris added 0.2%.
Ivaylo
09 Nov, 2006
New York City
Some profit-taking has occurred in all of the precious metals, pushing metals lower. The pullback can be seen as a natural retracement for the next move up. Gold staged a good run coming up to the $630 level. But now the market may be in a period of consolidation for one to one and a half weeks. Crude oil advanced as well as coffee futures and raw sugar.
123jump.com Staff
08 Nov, 2006
New York City
Wall Street was affected by the shift in political landscape in washington. President acknowledging the election results accepted the resignation of Rumsfeld, a controversial figure. Ethanol stocks rose on higher subsidy expectations. New York Stock Exchange to fire 17% and considers closing the floor in New York. Cisco reported 30% rise in earnings to 26 cents from 20 cents a year ago.
Elena
08 Nov, 2006
New York City
European stock markets finished down, reflecting cautious trading amid the election victory of the U.S. Democrats. Drug stocks were among the biggest losers on fears that if the Democrats win both the House and the Senate, they might enforce lower drug prices. AstraZeneca slipped 2%, GlaxoSmithKline dropped 1.6%, Novartis fell 1%, while Roche lost 0.5%. The German DAX 30 fell 0.2%, London FTSE lost 0.1%, while the French CAC 40 was flat at 5,437.10.
Elena
08 Nov, 2006
New York City
Worries about the impact of the U.S. election results, kept stocks under pressure in morning trading. Drug stocks Merck and Pfizer were the biggest drags on the S&P 500, falling 3.3% and 1.9% respectively. Health insurance stocks moved lower, led by Molina Healthcare, falling 8.3% after the company reaffirmed full-year outlook below estimates.
Elena
08 Nov, 2006
New York City
The plunge was attributed to the emergence of selling by funds as well as retail investors in large-cap stocks at higher levels. The market, extremely volatile in the late-afternoon trade, managed to bounce back in the final hour of trading, still ending lower. ICICI Bank, Infosys and Wipro led the advance, while Reliance Industries and Hero Honda led the decliners with Bajaj Auto and Tata Motors losing ground as well.
Elena
08 Nov, 2006
New York City
Federated Department Stores posted $3 million profit loss in Q3 due to costs related to its acquisition of May Department Stores. The loss amounted to a penny per share vs. a profit of 90 cents per share last year, missing analyst estimates of 25 cents per share. Cablevision Systems reported a narrower Q3 loss on increased number of customers. The company posted a loss of 21 cents per share, vs. a loss of 22 cents per share a year ago, lower than the expected loss of 14 cents.
Ivaylo
08 Nov, 2001
New York City
A gloomy mining sector and likely losses on US markets in early deals are preventing any recovery in London despite big gains at Scottish Power after the company confirmed it is in bid talks. Other UK utilities also benefited from the positive sentiment generated by the bid. Miners fell on sagging metal prices, with BHP Billiton and Rio Tinto leading the decline. Standard Life slipped on below par sales figures. The FTSE 100 lost 0.42% and is at 6,218 in mid-afternoon session.
Elena
08 Nov, 2006
New York City
Following Tuesday
Ivaylo
08 Nov, 2006
New York City
Domestic stocks in Tokyo fell following comments on Tuesday that the the central bank may lift the rates again after it raised a key interest rate in July for the first time in six years, lifting it to 0.25% from virtually zero. Investors in Japan were also cautious as they eyed U.S. Congressional election results. Hong Kong shares tumbled, breaking a six-session rally, on rumors that telecom giant China Mobile plans to sell shares. New Zealand bucked the trend, endind at record closing high.
Ivaylo
08 Nov, 2001
New York City
European shares retreated slightly in early trading on Wednesday, as investors were cautious after an inconclusive U.S. election result and some mixed third-quarter figures from companies such as EADS and Total. Oil companies were also under the spotlight because of the U.S. election. By mid morning, the FTSE 100 in London lost 0.3%, Frankfurt Xetra Dax shed 0.4%, and the CAC 40 in Paris was down 0.4%.
