Elena
14 Jun, 2006
New York City
The Department of Labor released its report on consumer prices index, showing that CPI rose 0.4% in May, following an unrevised increase of 0.6% in April. The index increase was largely contributable to higher energy prices and came in line with expectations. The report also showed that the core consumer price index, excluding food and energy prices, rose by 0.3%.
Elena
14 Jun, 2006
New York City
Stock futures indicated a positive start of Wednesday session, following steep declines yesterday and awaiting CPI data. Semiconductors received a boost in pre-market trading after Goldman Sachs upgraded its rating on four companies. The investment bank raised Intel Corp., Advanced Micro Devices, SanDisk Corp., and Applied Materials Inc.
Elena
14 Jun, 2006
New York City
The announcement came after Goldman Sachs raised its bid to 810 pence (euro11.85 US$14.90) a share, following a bid rejection of 730 pence a share from AB Ports in March. The deal is valued at 2.5 billion pounds which equals euro 3.7 billion, or US$4.6 billion.
Ivaylo
14 Jun, 2006
New York City
Markets started lower as investors were discouraged by yet another fall on U.S. markets. But the stocks then moved into positive territory after investors began to buy stocks that had fallen to attractive levels. Japanese shares advanced as investors took up retail, insurance and steel issues. Hong Kong shares ended slightly higher, Taiwan shares surged and South Korea''s Kospi Index also bounced back.
Ivaylo
14 Jun, 2006
Frankfurt
Sentiment stayed delicate and investors were ready for further turbulence with key US inflation data due for release later in the trading. Mounting concern about iinflation and the outlook for interest rates has been one of the major factors that triggered volatility across all asset classes recently. In London, the FTSE 100 shed 0.2% while the German Xetra Dax inched 0.1% up but the French CAC 40 dropped 0.1%.
Ivaylo
14 Jun, 2006
Metals
Losses for gold began in Asia, when spot prices dropped below $600 a troy ounce, and moved later into the London and New York sessions. Gold''s way below $600 toward the end of Asian trade set the tone for today with traders staying firmly on the offer for the rest of the day.
123jump.com Staff
13 Jun, 2006
Metals
Market averages remained under pressure as investors weighed falling oil and metals prices and worries on rising inflation and interest rates. Core PPI for the month of May was reported at 0.3% near the upper end of the comfort of Fed. Market is awaiting report on CPI tomorrow. Gold dropeed 7% or $44.50, highest one-day decline in 26 years. Silver fell 13%. Russia and Colombia dropped close to 10% in one-day delcine.
Elena
13 Jun, 2006
Frankfurt
European markets ended deeply in the negative, moving to their lowest levels in seven months as U.S. key data raised concerns over slowing economy and interest rate increases. Mining, pharmaceutical and financial stocks stood out among the biggest decliners. The German DAX 30 fell 1.9%, the French CAC 40 dropped 2.2%, and London FTSE 100 tumbled 1.8%.
Elena
13 Jun, 2006
New York City
Stocks turned to choppy trading in late Tuesday session, with investors digesting key inflation data. Shares of chip maker Intel Corp. and software maker Microsoft Corp edged up on bargain hunting after the recent decline of the technology sector. Intel rose 0.7% to $16.97 although Prudential cut its price target on the stock. Microsoft gained 0.9% to $21.90.In earnings news, Best Buy Co. Inc. reported 38% profit jump, sending the stock 4% higher to $50.99.
Elena
13 Jun, 2006
Mumbai
The Indian benchmark seems to be in correction mode over the past few days. It has plunged sharply by 28.50% from its all-time high on 11 May 2006, as markets witnessed sharp decline. Global markets plunged today as well on worries of higher interest rate costs, expected to hurt corporate profits.
Elena
13 Jun, 2006
New York City
Stocks opened lower but gained some ground during the first half an hour, despite troubling wholesale inflation data. In corporate news, Goldman Sachs reported Q2 net earnings more than doubled to $4.78 a share, compared with $1.71 a share last year on the strongest quarter in 6 years at its investment banking unit as well as strong trading results in fixed income and equities.
Elena
13 Jun, 2006
New York City
Stock futures loooked poised to continue recent losses, following a couple of economic reports. The Labor Department report showed that wholesale prices rose 0.2% in May after a 0.9% increase in April, well below economist estimates of an increase of about 0.5%. At the same time, core prices, which exclude food and energy prices, rose 0.3% in May following 0.1% increases in the previous two months.
Elena
13 Jun, 2006
New York City
Severstal''s controlling shareholder, Alexei Mordashov, will pay Arcelor 1.25 billion euros ($1.59 billion) in cash and hand over his stake in all of Severstal''s steel assets and Italian steelmaker Lucchini SpA, which Arcelor values at 11.7 billion euros ($14.7 billion).
Ivaylo
13 Jun, 2001
New York City
Japan
Ivaylo
13 Jun, 2006
Frankfurt
Fears still abound reflecting the likely tightening of monitory policy all over the world. The plethora of inflation data due out this week is forecast to put more pressure on interest rates, resulting in higher volatility across commodity markets with copper and gold breaking down through key support levels. In London, the FTSE 100 shed 1.6%, while the German Xetra Dax fell 1.7% and the French CAC 40 dropped 1.9%.
