Ivaylo
31 Aug, 2006
New York City
In Japan, stocks got a boost from broad gains in technology and blue-chip stocks like Toshiba and Canon. Hong Kong advanced as gains in U.S. markets and hopes for a pause in interest-rate hikes lifted investor sentiment. In South Korea, shares were led by brokerage stocks which advanced on rising trading volume. China, Taiwan and Australia also gained.
Ivaylo
31 Aug, 2006
Frankfurt
Oil prices have recovered to settle above the key $70 a barrel line despite far better than expected inventory data out of the US, mainly on the back of uncertainty over supplies as the UN deadline for Iran to suspend nuclear activities has now been reached. The FTSE 100 in London shed 0.1%, the Xetra Dax in Frankfurt edged down 0.1%, and the CAC-40 in Paris sank 0.2%.
Ivaylo
31 Aug, 2006
Metals
While gold and silver advanced on Wednesday, with regard to copper traders were awaiting news about the ongoing strike at Chilean copper mine Escondida throughout the session. The strike, now into its 24th day, has cut copper concentrate production by 50% at the mine.
123jump.com Staff
30 Aug, 2006
New York City
Market averages gained a fraction at close on light trading. Averages meandered for the most of the day. Second quarter GDP was revised to 2.9% from 2.5% for Spring quarter. Inventory led manfacturing helped the GDP growth. Costco lowered earnings target. European markets closed higher but Latin American markets closed mixed. Asian markets were lied by higher by Taiwan and Hong Kong. Oil rose but traded lower. Altria raised dividend 7.5% to 86 cents a share.
123jump.com Staff
30 Aug, 2006
Frankfurt
European markets ended in the positive territory, reflecting strength posted by tech shares and quarterly results released by Euronext and Corus. Stock-exchange operator Euronext was up 3.1% on 63% profit jump, while steelmaker Corus Group lost 1.8% after reporting 52% profit drop in Q2. The German DAX 30 gained 0.4%, the French CAC 40, was 0.4%, while London FTSE 100 rose 0.7%.
Elena
30 Aug, 2006
New York City
Crude oil prices fell 61 cents to $69.10 a barrel after a weekly petroleum report showed an unexpected rise in oil stockpiles. Crude supplies rose 2.4 million barrels to 332.8 million for the week ended Aug. 25, contrary to expectations for a decline. Gasoline inventories rose 400,000 barrels to total 206.2 million barrels.
Elena
30 Aug, 2006
Mumbai
The Sensex on BSE has gained 317 points, or nearly 3% in the last five sessions. The benchmark index closed almost flat, after a firm start and a volatile and session. The markets managed to surge in the latter part of trading boosted by gains in large-caps. Reliance Industries, State Bank of India, ITC and Ranbaxy led the advancers. Hotel stocks finished also higher, while the aluminium, engineering and steel stocks slipped.
Elena
30 Aug, 2006
New York City
An upward revision to Q2 GDP boosted market indexes at opening as the Commerce Department measured that gross domestic product rose 2.9%, higher than the original estimate of 2.5% and roughly in-line with economists'' expectations of an increase by 3%. U.S. stocks also gained on comments by Federal Reserve official Richard Fisher which helped sooth inflation concerns.
Elena
30 Aug, 2006
New York City
The government''s second estimate of GDP was revised upward to 2.9%, near the 3% revision analysts were expecting. The Commerce Department said that the upward revision reflects higher than previously estimated readings on exports of goods, non-residential structures, private inventory investment, and state and local government spending.
Elena
30 Aug, 2006
New York City
U.S. stock futures were sitting near the flat line Wednesday morning following a profit warning from Costco Wholesale and an advance by the oil price. Costco forecast earnings per share of 68 cents to 71 cents for Q4 and $2.23 to $2.26 for the fiscal year ending Sept 3. Analysts expected it to earn 77 cents for the quarter and $2.33 for the year.
Ivaylo
30 Aug, 2006
New York City
Asian markets closed mixed Wednesday as Japanese stocks saw declines accelerate across the board, while Hong Kong and Taiwan got a boost from indications the Federal Reserve Board may stop from more rate hikes in the near term. South Korean stocks closed lower as foreigners sold large capitalized stocks in favor of smaller issues. Shares in China closed marginally higher as property companies advanced after the yuan posted another post-revaluation high.
Ivaylo
30 Aug, 2006
Frankfurt
Although minutes from the US Fed last interest rate setting meeting did not give the markets great direction, U.S. stocks turned round early losses to end in positive territory. In early european trading, transport stocks were higher helped by the retreat of oil prices. By mid morning, London FTSE 100 rose 0.4%, while Frankfurt
Ivaylo
30 Aug, 2006
Metals
As the energy market is retreating, there is less fear that there is going to be inflationary pressures. This, in turn, reduces the likelihood of any future Federal Reserve rate hikes. When inflationary fears subside, this also means an increased likelihood of an economic slowdown, thus reducing the need to resort to safe havens such as gold.
123jump.com Staff
29 Aug, 2006
New York City
Market averages traded on light volume and responded positively to the release of Fed minutes of meetings. Nine of the ten voting members felt that raising rate was not necessary during the Aug 8th meeting. Only one voting member felt otherwise. However, future rate hikes are not discounted. Brokerage sector stocks fell. European and Latin American stocks closed up a fraction. Oil fell below $70.
Elena
29 Aug, 2006
Frankfurt
European markets closed in the positive, supported by gains for mining and technology stocks. The tech sector advanced, with STMicroelectronics and Infineon Technologies each rising 1.7% after Merrill Lynch reiterated its buy rating on STMicroelectronics. The German DAX 30 edged up 0.1%, while the French CAC 40 and London FTSE 100 both rose 0.5%.
