Ivaylo
30 Mar, 2007
New York City
The Sensex opened with a positive bias Friday, but trading was subdued in the morning session. The benchmark index surged in the latter part of trade as the crucial weekly inflation data turned out better than expected. Building up positions ahead of the fourth-quarter earnings results also aided the rally. NTPC and Dr Reddy
Ivaylo
30 Mar, 2007
New York City
European markets declined on Friday, as banks and telecom stocks weighed on sentiment, while concerns over escalating tensions between Britain and Iran raised oil prices. The banking sector was mainly down as investors took profits after recent gains. Financials in Germany were higher, though, on bid speculation. By mid morning, Frankfurt Xetra Dax was fractionally lower, the CAC 40 in Paris fell 0.2% and London FTSE 100 shed 0.3%.
Ivaylo
30 Mar, 2007
New York City
Gold and silver futures closed lower Thursday, undermined by long liquidation by funds as the end of the quarter approaches. Higher crude oil prices helped the metals to bounce from their late-morning lows. While precious metals declined, a combination of technical strength, favorable U.S. economic data and stronger crude oil futures helped copper post a gain. Copper closed above its 200-day moving average.
123jump.com Staff
29 Mar, 2007
New York City
On the revised estimate of GDP, market rallied in New York at the opening and boosted averages in Europe. Commerce Department said fourth-quarter gross domestic product rose at a 2.5% annual rate, revised up from an estimate made a month ago of 2.2%. U.S. Steel has agreed to acquire Lone Star Technologies offering 39% premium and U.S. Steel climbed 3%. Tech stocks failed to participate in the rally. Cisco Systems declined 1.8% and Qualcomm was down 1.3%. Dell discovers accounting errors.
123jump.com Staff
29 Mar, 2007
New York City
Market averages in the late afternoon trading turned negative after opening with near 0.5% rise. Morning rally failed to broaden beyond large cap stocks and tech stocks tunred negative early on. Canadain telecom oeprator was reported to be in talks to take the company private at a value as high as $26 billion. Insituform declined 22% on lowered earnings outlook. Brazilian airiline Gol agreed to buy troubled carrier Varig. Delta reports profit. CarMax reports profit rise below estimates.
123jump.com Staff
29 Mar, 2007
New York City
Seven of the nine majors stock markets in Europe advanced more than 1% at close led by airlines, miners and banks. Market opened higher and registered solid gains on revised GDP grwoth rate for the U.S. Mining stocks rose on expectations that metal prices will improve in coming months. Airlines rose price cutting news from Air France and Iberia hiring bankers to advise on merger related issues. In Geramny SAP fell 1% but KarstadtQuelle gained more than 2% on first annual profit since 2003.
123jump.com Staff
29 Mar, 2007
New York City
Market averages contunied to decline after three hours of trading as rally in industrial stocks failed to broaden and tech stocks turned negative. GDP report showed that the economy grew at 2.5%, better than previously estimated and initial claims of unemployment fell by 10,000 at the end of last week. Oil continued its climb to near six-month high and natural gas invenotry fell. Major European markets closed up 1%.
123jump.com Staff
29 Mar, 2007
New York City
CarMax, larget auto dealer, reported fourth quarter profit of 19 cents compared to 15 cents a year ago. net marging in the quarter declined to 2.2% from 2.3% on revenue rise of 16%. The stock declined 5% in the early trading on lower than expected earnings. The company also guided for the fiscal year 2008 wide earnings range bewteen $1.03 and $1.14 per share.
123jump.com Staff
29 Mar, 2007
New York City
Market averages in New York trading rebounded in the early morning trading on revised GDP grwoth rate for the fourth quarter of 2006. European markets also traded higher across the region. U.S. Steel agreed to buy Lone Star Technologies for $2.1 billion, a premium of 39% from close of yesterday. Tenaris, largest seamless tube maker purchased Maverick Tubes in October for $2.8 billion. U.S. Steel with this acquisition will be the largest oil tube maker int the North America.
123jump.com Staff
29 Mar, 2007
New York City
U.S. stocks are expected to open sharply higher as indicated by futures trading. Commerce Department revised the GDP growth rate for the fourth quarter to 2.5% from 2.2%. European stocks are trading higher across the region with a gain of 1% Germany, Italy, France and Switzerland. In Asia Hong Kong led the gainers in the region with a gain of 1.4%.
Ivaylo
29 Mar, 2007
New York City
Gold and other precious metals advanced Wednesday, lifted by stronger crude oil futures that reached a more than six-month high. Crude oil prices hit their highest close in more than six months, surging for the seventh session in a row as worries that the standoff over the British sailors held by Iran will worsen and send prices skyrocketing.
123jump.com Staff
28 Mar, 2007
New York City
Markets in New York trading closed lower on inflation talk from the Fed Chairman, weaker than expected rebound in February durable goods orders and weak housing market. Circuit City plan to lay-off 3,400 people. European markets closed lower across the region on higher oil price led by near 1% decline in Switzerland, Germany and France. In overnight trading Asian markets closed sharply lower led by fall in Japan and Hong Kong.
123jump.com Staff
28 Mar, 2007
New York City
U.S. market averages headed lower after making two attempts to cut its looses in the morning trading. The Fed Chairman Bernanke testimony cautioned that housing market will remain drag for the U.S. economy and core inflation remains uncomfortably high. the hawkish comments put invenstors on the edge. Circuit City plans to eliminate 3,400 sales staff and hired broker to sell Canadian unit. European markets closed lower across the region on higher oil price.
123jump.com Staff
28 Mar, 2007
New York City
European markets closed lower on higher oil price. Decline of 1% in Swiss index led the region. Germany, France and the Netherlands closed 0.6% lower. UK closed lower on fall in mining and banking stocks. ABN Amro fell on the statement that it will explore all options if talks with Barclays fell. Barclays rose. ArcelorMittal chairman said that the company likely to expand from steel to other metals.
123jump.com Staff
28 Mar, 2007
New York City
The Fed Chairman in his prepared remarks in front of the Joint Economic Committee of Congress said that the core inflation remains uncomfortably high and economy is likely to grow at a moderate pace. He also said that the Fed remains concerned that the core inflation may fail to moderate in the coming months as expected. Market averages traded lower on weaker than expected rebound in durable goods orders.
