Ivaylo
01 Nov, 2006
New York City
The FTSE advanced by lunchtime on Wednesday, helped by a strong showing across the mining sector and a positive reaction to the plans of Cairn Energy to float its Indian business. A rebound in gold, copper and silver prices pushed Xstrata higher with Anglo American, Lonmin and BHP Billiton also moving ahead. The FTSE 100 in London extended its early gains to trade 22 points, or 0.4%, higher.
Elena
01 Nov, 2006
New York City
U.S. stock market futures turned higher after a survey report showed that the U.S. economy added about 128,000 private-sector jobs in October. Automakers are also expected to report higher October U.S. sales compared to the same month a year ago. Time Warner posted sharply higher Q3 earnings of 57 cents a share, up from 18 cents last year. Revenues rose 7% to $10.9 billion. However, profit and revenue came in slightly below estimates. Time Warner held to its 2006 outlook.
Elena
01 Nov, 2006
New York City
The cash deal is valued at about $1.3 billion, or $36.50 per share after a special dividend of $16.00 per share already declared by Banta. The offer represents a premium of 18.6% over Banta''s closing share price Tuesday on the Nymex of $44.28. The transaction is expected to complete in Q1 of 2007.
Ivaylo
01 Nov, 2006
New York City
In Japan, investors boosted shares of Mitsubishi UFJ, the large-cap financial firm, despite weakness of exporters Honda Motor and Sony Corp. due to the extended gains from the yen against the dollar. South Korea and Australia both rose, while Weighted Price Index in Taiwan fell. Shares listed in Singapore advanced, with the benchmark Straits Times Index gaining. The China Enterprises Index, trading in shares listed in Hong Kong also added.
Ivaylo
01 Nov, 2001
New York City
European stocks were slightly higher Wednesday as banks dominated following merger updates from Banco Popolare di Verona e Novara and Banca Popolare Italiana. Oil companies and metal stocks also helped the markets, with BP and Total advancing. Rio Tinto and BHP Billiton gained after zinc prices touched record highs and as gold prices also strengthened. In early trade, the FTSE 100 in London gained 0.2%, Frankfurt Xetra Dax climbed fractionally, and the CAC 40 in Paris was flat.
Ivaylo
01 Nov, 2006
New York City
The precious metals had surged earlier in the day, as a softening dollar and slowing economy usually boost gold, which is regarded as a hedge against inflation. Profit-taking, the countdown to elections, and catch-up with oil prices, which fell more than $2 on Monday, took the wind out of sails of the precious metal.
Elena
31 Oct, 2006
New York City
European stock markets finished little changed Tuesday, reflecting gains in transport and auto shares on the back of weaker oil prices, but losses in the banking in the wake of disappointing results reported by Swiss banking giant UBS. Germany''s DAX Xetra 30 index gained 0.17%. London FTSE 100 index added 0.04%. The French CAC 40 closed down 0.25%.
Elena
31 Oct, 2006
New York City
Stocks traded in a lackluster fashion after a decline in consumer confidence countered stronger-than-expected quarterly earnings. Eastman Kodak Co. rose 4% to $24.70 after posting a narrower-than-expected loss amid a 10% decline in sales.
Elena
31 Oct, 2006
New York City
The Sensex witnessed a highly volatile session Tuesday with selling continuing throughout trading, making the benchmark index shed points. Although the turnover rose sharply, the market-breadth was weak, as selling hurt small-caps and mid-caps. State bank gained after RBI kept key interest rates unchanged in its credit policy announced today. The central bank raised slightly its overnight lending rate. Tata group and Reliance Communication led the decliners.
Elena
31 Oct, 2006
New York City
Stocks posted modest gains at opening, as Procter & Gamble Co. reported stronger-than-expected results and oil prices further declined amid easing political tensions. Light, sweet crude, fell 56 cents to $57.80 a barrel in electronic trading. In other earnings news, Eastman Kodak Co. posted a loss of $37 million, or 13 cents a share in Q3, citing $202 million in restructuring costs. The stock rose 5.7%.
Ivaylo
31 Oct, 2006
New York City
Cairn Energy and BG fell as US crude for delivery in December dipped again, BP declined after preliminary findings by investigators at the US Chemical Safety Board showed a history of serious accidents. However, the FTSE 100 index was little changed at midday on Tuesday, erasing earlier losses as companies announced upbeat third-quarter earnings, but the market remained cautious ahead of U.S. economic data. The FTSE 100 is 0.26% higher at 6,143 in the afternoon on Tuesday.
Elena
31 Oct, 2006
New York City
U.S. stock market futures traded higher Tuesday, boosted by uplifted earnings outlook at Procter & Gamble on a better commodity and energy cost forecast. The consumer products maker reported higher-than-expected Q1 profit jump of 33% to 79 cents a share, up from 77 cents last year, boosted by 27% revenue.
Elena
31 Oct, 2006
New York City
Sirna is a small biotechnology company developing drugs based on new technology, the so-called RNA interference technology. Merck''s $13-per-share offer is almost a 102% premium over Sirna''s closing price of $6.45. Sirna''s stock surged 98% to $12.74 in after-hours trading.
Ivaylo
31 Oct, 2006
New York City
In Japan, investor disappointment over profit guidance impacted sentiment negatively. Machinery and large-cap stocks countered the displeasure of investors at the lack of upward revised forecasts from companies. South Korea stocks were led higher by strong gains from Lotte Shopping and other retail stocks. Elsewhere in the region, Hong Kong, Taiwan and New Zealand gained while Australia slipped.
Ivaylo
31 Oct, 2006
New York City
Banks reversed earlier losses and also insurers made strong earnings-driven gains. Carmakers recovered some of the previous losses, with DaimlerChrysler leading the advance on speculation it may sell its poorly-performing US Chrysler group. UBS, the biggest wealth manager in the world, impacted the market negatively as it posted a worse-than-forecast 21% drop in third-quarter net profit. By mid morning, the FTSE 100 rose 0.3%, Frankfurt Xetra Dax added 0.4%, the CAC 40 in Paris climbed 0.1%.
