Ivaylo
03 Oct, 2006
New York City
The slip on U.S. and Asian markets came after a number of downgrades, while energy companies were hit by falling oil prices. Technology stocks suffered after the US Nasdaq fell overnight following a downgrade of Apple Computer by Citigroup. Japanese tech issues also dropped after Goldman Sachs downgraded the likes of Sony and Pioneer. The FTSE 100 in London lost 0.5%, while Frankfurt Xetra Dax fell 0.7% and in Paris, the CAC 40 shed 0.7%.
Ivaylo
03 Oct, 2006
New York City
The gold contract managed to hold the key $600 an ounce level but did trade as low as $602 during the session. The yellow metal lost ground then was later quiet before light fund selling forced oil down more than a dollar, dragging gold with it. Gold will continue to draw direction from the U.S. dollar and crude oil price fluctuations in the short term.
123jump.com Staff
02 Oct, 2006
New York City
Market averages traded lower with no clear direction. Nasdaq led the decline with a loss of 1%. Oil dropped more than 2% on worries that more production cuts are not likely. Report on manufacturing showed a slowing level of activity and construction spending rose 0.3% in August. Stock markets in Peru and Saudi Arabia led the world at the end of Q3 with a gain of 115% and a loss of 33% respectively. Emerging markets are ahead of New York and European markets for the year by a factor of two.
Elena
02 Oct, 2006
New York City
European markets finished below the flat line, pulled down by weaker technology stocks and steep losses in online gambling shares. About $7.5 billion of market value was wiped off gambling stocks after the U.S. Congress passed a bill that would prohibit U.S. financial services firms from processing payments to these. London FTSE 100 ended lower by 0.1%, followed by the German DAX 30 and the French CAC 40, also down 0.1%.
Elena
02 Oct, 2006
New York City
On the first day of the fourth quarter, stocks traded in a lackluster manner, reflecting mixed economic data, falling oil prices and merger news. The Institute for Supply Management said the manufacturing sector grew at the slowest pace in more than a year in September due to weaker U.S. auto sales and a slowing housing market. The Commerce Department said construction spending in August rose 0.3% after falling 1% in July.
Elena
02 Oct, 2006
New York City
U.S. stocks opened below the flat line Monday after Wal-Mart Stores said September same-store sales came in at the low end of a forecast. Company''s shares slipped nearly 2%. In corporate news, casino operator Harrah''s Entertainment rallied 19% after it received a $15.05 billion offer from private equity firms Apollo Management and Texas Pacific Group.
Ivaylo
02 Oct, 2006
New York City
PartyGaming weighed down on the market on reports it is considering suspending its US business but miners are having a good day led by Anglo-American and BHP Billiton. Utilities are also riding high after water stock AWG announced it has agreed a with Osprey, but said it has received a number of other approaches. Scottish Power is performing well and current trading is expected to be ahead of expectations. The FTSE 100 is up 0.07% at 5,965.10 at 2pm GMT.
Elena
02 Oct, 2006
New York City
Stock market futures reversed from earlier gains to move slightly down, as Wal-Mart reported disappointing sales results and the stock of Apple Computer was downgraded. Wal-Mart posted September same-store sales rose 1.8%, just below the mid-point of its 1% to 3% forecast range. Apple dropped fell 2% to $75.40 in pre-open trading after Citigroup downgraded shares to hold.
Elena
02 Oct, 2006
New York City
PartyGaming plunged 60% to 43 pence (81 cents), shares in 888 sank 48% to 76 pence ($1.42), while Sportingbet shares dropped 67% to 60 pence ($1.12). PartyGaming said it would pull out of the United States if President Bush signs the legislation into law.
Ivaylo
02 Oct, 2006
New York City
The Bank of Japan tankan survey of business conditions stated Monday, although some economists expressed worries forward-looking sentiment estimates pointed to a nearing slowdown. The headline diffusion index for big manufacturers'''' sentiment came in at 24, higher than market expectations of 20 for the past three months. The tankan suggested the economy will be softening into next year, mainly because of the direction of the diffusion index into next quarter.
Ivaylo
02 Oct, 2006
New York City
Gains from commodities companies such as oil and gold helped European stocks start the fourth quarter on a positive note Monday, although shares in online gambling companies including PartyGaming plunged in London after a law was passed that may lead to companies to stop accepting bets from their top customers, Americans. The FTSE 100 in London climbed 0.2%, Frankfurt Xetra Dax added 0.3% and in Paris, the CAC 40 gained 0.2%.
Ivaylo
02 Oct, 2006
New York City
Firmer dollar sentiment and light profit taking in the oil market weighed on gold and the other precious metals on Friday. With the dollar stronger and oil down sharply, stimuli are negative, both from a technical and fundamental standpoint, and fund selling occurred. December gold was unable to maintain momentum through the $610 an ounce area as a factor contributing to the pullback.
123jump.com Staff
29 Sep, 2006
New York City
Market averages lacked direction as the third quarter closed down. Dow for the September month rose 2.6% and crude oil dropped 15%. For the third quarter Dow gained 4.7%, Nasdaq rose 4% and S&P 500 advanced 5.2%. General Motors gained 70% at the end of the third quarter leading the other companies int he index. Akamai Technologies led the Nasdaq 100 with a gain of 151%.
Elena
29 Sep, 2006
New York City
European markets finished Friday session in the positive territory, led by telecommunication and automotive shares. A decline in oil prices lent support to automakers like BMW, up 1.2%, but weighed on oil companies at the same time, with BP falling 0.9% and Cairn energy losing 1.5%. The German DAX 30 ended up 0.3%. The French CAC 40 ended flat at 5,250. London FTSE 100 advanced 0.2%.
Elena
29 Sep, 2006
New York City
Stocks were little changed Friday, with the Dow Jones industrial average briefly surpassing its all-time high close before retreating to lower levels. Losses by DuPont and Exxon Mobil helped offset gains for the blue-chip index. Among the leading gainers, Research in Motion surged 19% and Corel Corp. rose 17% after reporting upbeat quarterly earnings. Hewlett-Packard rose more than 2% as investors appeared pleased with the testimony of Hurd.
