Elena
07 Jul, 2006
Mumbai
News that the Indian government may fall led by a decision not to proceed with selling stakes in state-run firms disturbed the trading. The market was gripped in a sell-off after the government suspended all divestments as a key ally threatened to pull out of the ruling coalition. A rebound in ICICI Bank supported by a large block deal, at the end of session, aided recovery in the Sensex after it had lost over 300 points in late trade.
123jump.com Staff
10 Jul, 2006
New York City
Market gained in the early hours of trading but began to lose steam in the afternoon. European market closed higher and in the overnight trading Tokyo rebounded. Alcoa reported earnings of 85 cents vs 52 cents a year ago on revenue rise of 19%. AMD, EMC and Kronos traded lower on earnings warnings. Tech sector traded lower on broker downgrade. Oil and gold fell. Oil dropped 1.5% at mid-day. Getty Images droped to 20 month low.
Elena
07 Jul, 2006
New York City
U.S. stocks opened weaker, reflecting corporate profit warnings, record-high oil prices, and a weaker-than-expected jobs creation report, raising worries that the economy was cooling too quickly. Dow component 3M Co. dropped 7% on warning of lower-than-anticipated Q2 earnings. Micro Devices slipped 4.7% on warning of 6% drop in Q2 revenue.
Elena
07 Jul, 2006
New York City
Stock futures jumped on weaker-than-expected job growth, suggesting that the Fed Reserve might pause interest rate hikes. The Labor Department reported that 121,000 nonfarm payroll jobs were created in June, below expectations of 185,000 jobs and up an upwardly revised 92,000 in May. The unemployment rate remained at a five-year low of 4.6%, in line with expectations.
Elena
07 Jul, 2006
New York City
A federal lawsuit alleges breach of contract and violations of consumer protection laws, seeking class-action status on behalf of the more than 20 million customers AT&T Wireless had at the time of the merger. The lawsuit, based on complaints received by the Foundation for Taxpayer and Consumer Rights in Santa Monica, seeks up to treble damages for fees and charges paid by the AT&T Wireless customers.
Ivaylo
07 Jul, 2006
New York City
The weaker-than-expected data in the U.S. also raised hopes for a halt to interest-rate increases. Japan''s Nikkei 225 finished the day slightly lower, after giving back morning gains. Hong Kong''s Hang Seng Index also ended while South Korea''s Kospi index finished with a gain.
Ivaylo
07 Jul, 2006
New York City
Investors, also, nervously awaited US employment data for further clues on the likely direction of future US monetary policy. The airline sector in Europe provided some upside after a number of carriers reported June passenger numbers. The U.K. FTSE 100 index lost 0.4%, the German DAX Xetra 30 index decreased 0.5% and the French CAC-40 index slipped 0.5%.
Ivaylo
07 Jul, 2006
Metals
A combination of factors helped power the rally, including a softer U.S. dollar and increased geopolitical tensions. The latest is that North Korea might test more missiles. It so turns out that risks of all kinds are being priced back into the market. Traders also have been citing ongoing worries about Iran''s nuclear program.
123jump.com Staff
06 Jul, 2006
New York City
Market averages gained in the New York trading. Florida Supreme Court affirmed a lower court ruling and threw out a $145 billion of punitive damages award against five tobacco companies. Mixed June same-store sales largely disappointed market watchers. European markets closed higher. A decision in Mexican Presidential election may not be clear for weeks to come. EBay stock traded near three-year low.
Elena
06 Jul, 2006
Frankfurt
European markets finished strong as the European Central Bank and the Bank of England left rates unchanged. Pharmaceutical companies like Shire and automakers like Renault were leading advancers. The German DAX 30 climbed 1.2%, the French CAC 40 rose 0.9%, and London FTSE 100 surged 1.1%.
Elena
06 Jul, 2006
New York City
The European Central Bank held its key interest rate steady at 2.75%, in line with expectations, but promised to be vigilant on inflation. The latest ECB''s decision coincided with the decision made by the Bank of England to hold interest rates steady at 4.5% for the 11th consecutive month.
Elena
06 Jul, 2006
Mumbai
The market remained in negative territory throughout the day. High oil prices and weakness in larger Asian markets weighed on the Indian market. The benchmark index managed to rebound in the latter part of the trading. IT, auto and banking shares led the decliners in a weak market breadth.
Elena
06 Jul, 2006
New York City
Stocks opened higher as lower oil prices and mild June retail sales helped market rebound from steep losses yesterday. Retailers posted slower same-store sales growth in June, reflecting high gasoline prices and rising interest rates. The Labor Department said that jobless claims fell to 313,000 from the previous week''s revised figure of 315,000.
Elena
06 Jul, 2006
New York City
Market is focused on a number of retail sales and economic data releases Thursday. Costco reported same-store sales increase of 6%, vs. expectations of 6.9% gain.Results at department stores were mixed, with Nordstrom posting a 4.7% gain in same-stores sales, slightly below the 4.9% estimate, while Federated Department Stores Inc. had a 1.7% increase in same-store sales, below the 2.8% estimate.
Elena
06 Jul, 2006
New York City
The investors will pay $20 for each Duquesne share outstanding, almost a 22% premium over the stock''s close at $16.44 Monday on the Nymex. The deal is expected to close in the first quarter 2007 after receiving federal and Pennsylvania regulatory approvals, as well as approval by Duquesne''''s shareholders.
