Elena
08 Aug, 2006
New York City
U.S. stocks opened higher on optimism the Fed Reserve will keep its key interest rate steady at 5.25%. In earnings news, Sara Lee Corp, consumer products company, reported it swung to fiscal Q4 net income of 1 cent a share from a year-ago loss of 19 cents. Contact lens maker Bausch & Lomb said it will delay filing its Q2 earnings report and warned that its full-year profits could fall well below estimates.
Elena
08 Aug, 2006
New York City
U.S. stock futures gained on expectations the Fed Reserve will hault its run of interest-rate hikes. However, a report showing unit labor costs increased more than expected in Q2 helped limit early gains. In earnings news, Polo Ralph Lauren reported Q1 net income rose to 74 cents a share from 48 cents a share in the year-ago period.
Elena
08 Aug, 2006
New York City
The deal is expected to be completed early next year. Under the terms of agreement Aleris stockholders will receive $52.50 for each common share, a premium of nearly 27% to Aleris''s Monday closing price of $41.39.
Ivaylo
08 Aug, 2006
New York City
Japan dropped more than 2% Monday on concerns over rising oil prices and uncertainty about the direction of U.S. interest rates.But markets have already discounted the oil price and even $80 a barrel would be tolerable to the region. Japanese stocks also got a boost from government data released Tuesday showing that bank lending grew at the fastest rate in at least five years. Hong Kong also gained as telecom, property and energy shares all put in a strong showing.
Ivaylo
08 Aug, 2006
Frankfurt
US oil declined slightly and ICE Brent slid from a new record-high as traders booked profits. Oil had jumped 3% after BP started to shut down Prudhoe Bay oilfield in Alaska, the biggest in the United States, possibly for months. The FTSE 100 in London was 0.2% higher, the Xetra Dax in Frankfurt nudged up 0.8% and the CAC-40 in Paris advanced 0.5%.
Ivaylo
08 Aug, 2006
Metals
If the Fed pauses in its rate-raising program on Tuesday, that would cause gold prices to advance in the short-term. Hiking interest rates curbs inflation, and gold is regarded as a hedge against inflation. Silver and copper fell, while platinum and palladium and crude oil futures settled higher on the day.
123jump.com Staff
07 Aug, 2006
New York City
As market reached close Dow lost 20.49 points, Nasdaq was down 13.14, and S&P declined 3.31. Inflation worries due to record level oil prices prompted moderate declines in the market. El Paso Corp reported Q2 earnings of 21 cents a share after paying dividends compared to a year ago loss of 38 cents a share. AES Corp posted Q2 earnings of 25 cents a share compared to year ago earnings of 13 cents a share. Oil gained $2.22 to close at $76.98.
Elena
07 Aug, 2006
Frankfurt
European markets finished steeply lower Monday, reflecting a spike in oil prices and concerns over the U.S. Fed Reserve
Elena
07 Aug, 2006
New York City
Climbing oil prices weighed on market sentiment in morning trading session, pushing the stocks lower. Yet, energy shares advanced on expectations to benefit from the higher prices. Hess Corp. gained 0.6%, while Chevron Corp. climbed 0.65%. Shares of BP lost 1.8% on the Prudhoe Bay shutdown.
Elena
07 Aug, 2006
Mumbai
The Indian Sensex closed in the red for the second consecutive session in a volatile trading, characterised by record-low volumes, as investors showed a lack of interest, ahead of the meeting on Wednesday by Federal Reserve bankers to consider interest rates. ICICI Bank and BHEL led the gainers, while Hero Honda ed the decliner.
Elena
07 Aug, 2006
New York City
AES Corp. jumped 9.4% after reporting Q2 net income almost doubled to 25 cents a share from 13 cents a share a year ago on 15% revenue growth, beating estimates. Southern Union, natural gas provider, reported Q2 earnings of 8 cents a share, down from 10 cents a share a year ago, missing estimates. McDermott International, heavy construction company, reported Q2 net income drop of 40 cents a share from 75 cents last year, below expectations.
Elena
07 Aug, 2006
New York City
U.S. equity futures were sent lower by a spike in energy prices following a shutdown of a major oil field in Alaska. Crude oil September delivery jumped 2% to $76.25 a barrel. Energy company El Paso Corp. posted $141 million Q2 profit in contrast to a loss a year ago due to a 4% rise in revenue. Company''s shares rose 2.7% in pre-market trading.
Elena
07 Aug, 2006
New York City
BP has a 26% stake in the Prudhoe Bay field, meaning its own production would be cut by 100,000 barrels a day, while 400,000 barrels a day of crude oil would be taken off the world market. BP''s shares dropped 2% on the LSE.
Ivaylo
07 Aug, 2006
New York City
Japan slumped in afternoon trading, with tech exporters including Sony and Toshiba leading the market to heavy across-the board losses after the closure of a key Alaska oil field caused crude prices to soar. All major regional indexes fell, but for Hong Kong, which rose but only just. Australia also gained.
Ivaylo
07 Aug, 2006
Frankfurt
Weaker-than-expected jobs growth in the US weighed also as the focus turned from expectations the Federal Reserve would pause its monetary tightening to worries over slowing growth. The FTSE 100 declined 1%, the Xetra Dax in Frankfurt slipped 1.5% and the CAC-40 in Paris was off 1.5%.
