Ivaylo
06 Dec, 2006
New York City
European stocks gained on Wednesday, with banks leading the gainers after investors welcomed forecast-beating results from Anglo Irish Bank and an upbeat trading statement from Royal Bank of Scotland. Declines were coming, though, from more defensive sectors, including utilities and health care companies. By mid morning, the FTSE 100 in London climbed 0.2%, Frankfurt Xetra Dax was fractionally higher, and the CAC 40 in Paris gained 0.1%.
Ivaylo
06 Dec, 2006
New York City
Gold and silver prices edged lower Tuesday, as a slightly stronger dollar and slipping oil prices encouraged metals traders to pause and take profits. Data-related dollar gains and modest profit-taking in the energy sector have triggered a bout of liquidation across the precious complex today, although dips in all metals have found good support. The approaching end of the quarter and year is another influence.
123jump.com Staff
05 Dec, 2006
New York City
A business survey from ISI suggested that service sector in the economy is expanding at a faster rate than manufacturing sector. According to Labor Department, unit labor cost growth in the third quarter was revised to 2.3% from 3.8%. Kroger rose on better than expected profit of 30 cents per share, up 16%. Autozone rose 4.5% on earnings of $1.73 per share. NYSE Group rose on the news that its merger with Euronext won conditional approval. Ford dropped 2.5% on $3b convertible offering.
Elena
05 Dec, 2006
New York City
European stocks posted solid gains on Tuesday, boosted by commodities-related stocks, positive mood on Wall Street, and stabilized dollar. Markets managed to ignore some poorly received updates from banking giant HSBC and electronics giant Philips. The German DAX 30 climbed 1.2%, supported by 3.7% gain for ThyssenKrupp. The French CAC 40 followed suit to close up 1.2%, led by drug maker Sanofi-Aventis. London FTSE 100 rose 0.6%, benefiting from strength in the mining and oil sectors.
Elena
05 Dec, 2006
New York City
U.S. market averages posted gains Tuesday, as revised data showed wages and benefits increased at a much slower pace in Q3 than expected and the service sector came accelerated in November. The ISM''s index of activity in the nation''s services sector rose at a faster rate of 58.9, above the 57.1 seen in October. However, a Commerce Department report showed that orders to U.S. factories fell 4.7% in October, the steepest decline in six years.
Elena
05 Dec, 2006
New York City
The Sensex opened above 14,000 level, up more than 150 points from its previous close. Profit-taking weighed shares lower in subsequent trades, but the benchmark index managed to extend its rally for the fifth straight day. Steady buying in Tata Steel, Reliance, Reliance Communications and Infosys as well as from foreign funds saw the index display positive trend through the day. Government may consider fiscal measures, if required, to ease pressure on the prices of non-food articles.
Elena
05 Dec, 2006
New York City
U.S. stocks opened little changed on Tuesday as traders digested a report from the Labor Department that showed modest Q3 productivity growth but significant downward revisions Q3 and Q2 unit labor costs. In deal news, Japan''s tire company Bridgestone Corp. said its North America subsidiary will buy Bandag Inc., a maker of tire tread rubber, for about $1.05 billion in cash. Shares of Bandag rose 12% to $50.40 in morning trading.
Ivaylo
05 Dec, 2006
New York City
High street retailer Woolworths was deep into negative territory though after it warned that it will need better sales over Christmas if it is to achieve full year results at the lower end of expectations. In the wider market, strength in the mining sector sent the FTSE 100 higher. Antofagasta led the advancers, while Vodafone gained after Goldman Sachs raised its recommendation. In early trade, the FTSE 100 rose 25.1 points, or 0.4% to 6,075.7.
Elena
05 Dec, 2006
New York City
Stock market futures indicated a slightly higher opening Tuesday, after a revised report on Q3 labor productivity showed that productivity was revised up, but came in below economist estimates. Productivity in the nonfarm business sector rose 0.2% in Q3, down from the expected increase of 0.4%. The report also showed a downward revision to the pace of unit labor cost growth in Q3, which was revised down to 2.3% from 3.8%.
Elena
05 Dec, 2006
New York City
Toll Brothers said net income in Q4 fell to $174 million, or $1.07 a share, from $310 million, or $1.84 a share last year, slightly above expectations of $1.06 a share. Revenue fell to $1.81 billion from $2.02 billion. The home builder attributed the downbeat results to 15 months of a home building slowdown, and over 585 cancellations. The net income in the following year is forecast to fall to between $260 million and $340 million, or $1.58 to $2.08 a share.
Ivaylo
05 Dec, 2006
New York City
Asian markets ended mixed Tuesday, as oil producers and banks pushed Japan''s benchmark lower, while gains in the telecommunications sector helped lift shares in Hong Kong. South Korean stocks declined, as automobile and technology shares fell on continued weakness in the dollar. Chinese stocks climbed to another five-year high in Shanghai, as gains in the property sector. In Taiwan, shares fell slightly, breaking a four-session winning streak.
Ivaylo
05 Dec, 2001
New York City
European stocks markets advanced on Tuesday as sentiment was buoyed in the telecoms sector after an upgrade for Vodafone, while steelmakers were lifted by merger speculation. Mobile telecoms groups were higher after Goldman Sachs raised its recommendation on Vodafone. Steelmakers were also among the gainers after CSN of Brazil completed due diligence on Anglo-Dutch target Corus. By mid morning, London FTSE 100 climbed 0.6%, Frankfurt Xetra Dax added 0.6%, and the CAC 40 in Paris gained 0.6%.
Ivaylo
05 Dec, 2006
New York City
Gold and silver prices bounced a bit higher Monday, recovering from a fall earlier in the day as traders resumed their expectations that the dollar will slide further. The market got itself a little bit long at the end of last week, expecting a continuation of the rally on the back of U.S. dollar weakness. But the U.S. dollar stabilized a bit Monday morning. Crude oil bounced off its low, aiding the recovery of the metals.
123jump.com Staff
04 Dec, 2006
New York City
Merger news worth more than $30 billion, 1.6% drop in oil price and investors desire to add tech stocks led three popular averages near the record level. Bank of New York agreed to buy Mellon Financial after $16.5 billion and form the largest custodian of financial assets. Bank of NY shres jumped 12% and Mellon rose 5% on the news. Agere Systems and LSI Logic agreed to merge. Pfizer lost 11% after dropping its cholesterol drug.
Elena
04 Dec, 2006
New York City
European stocks closed in the positive Monday. The regional markets advanced on deal-making news, takeover speculation, gains on Wall Street, and late-session buying on relief that Pfizer didn
