123jump.com Staff
01 Jun, 2006
New York City
The race to create global exchage has begun with the first deal between NYSE and Euronext. The combined exchange will have a market cap of $20 billion beating the current leader Chicago Mercantile Exchange with a market cap of $15.5 billion. The proposed deal is to facilitate easy trading on stocks and derivatives in countries in Belgium, France, the Amsterdam, Portugal and the U.S.
123jump.com Staff
01 Jun, 2006
New York City
Market averages rose in the first day of June after declining at record level in May. Investors returned to buy shares on retail sales, manufacturing activity and construction spending data. Investors for a day suspended their worries of rising inflation. Tech stocks led the upsurge and closed at the best level of the day.
123jump.com Staff
01 Jun, 2006
New York City
Rising fuel prices and interest rates are weighing on auto sales. Domestic auto makers reported decline in auto sales as reported by GM, Chrysler and Ford. Nissan sales dropped 7% but sales at Toyota rose 17% bucking the trend. Sales of cars and trucks declined across the board. Ford F-Series truck reported flat sales. Toyota stock rose less than 1% in trading in New York.
Elena
01 Jun, 2006
Frankfurt
European markets finished in the positive territory. The upward move was largely contributed by U.S. economic data, which helped ease inflation and interest-rate concerns. Strong results from Man Group sent the stock up 3.4%, providing support to the market sentiment. The German DAX 30 gained 0.3%, the French CAC 40 rose 0.4%, and London FTSE 100 climbed 0.5%.
Elena
01 Jun, 2006
Mumbai
The drop was broad-based, hitting stocks across the board with metal shares buffeted. The fall intensified in the latter part of session. Earlier, the market started on the right foot, led by good news from other Asian markets, but the surge was quickly snapped off. The weakness of the market stemmed from the unyielding defiance of left parties to hike oil prices.
Elena
01 Jun, 2006
New York City
The Department of Commerce reported that construction spending in April unexpectedly fell by 0.1%, following an unrevised 0.9% increase in March. Economists had been expecting construction spending to increase by 0.2%.
Elena
01 Jun, 2006
New York City
Major retail companies reported generally higher same-store sales for May. Gymboree posted 19% rise in same-store sales, while Abercombie & Fitch reported that May same-store sales rose 3% and total sales climbed 17% to $185.7 million. Nordstrom and Limited Brands posted same store sales growth of 7.8% and 7% respectively, exceeding analyst estimates.
Elena
01 Jun, 2006
New York City
The Labor Department said that productivity growth was revised up to 3.7% from the 3.2% growth originally reported for the quarter, slightly below the expected 3.8% upward revise. Another report showed that initial jobless claims in the week ended May 27 rose to 336,000 from the previous week''s unrevised figure of 329,000, compared to expectations of jobless claims to fall to 320,000.
Elena
01 Jun, 2006
New York City
A bankruptcy judge approved the $280-million-a-year concessions deal Wednesday, hours after 61% of the airline''s rank-and-file pilots voted for the pact. The deal includes an initial 14% pay cut for pilots and assurances the pilots union won''t fight any company effort to terminate the pilots'' pension. The agreement, running through 2009, takes effect Thursday.
Ivaylo
01 Jun, 2006
New York City
Hong Kong
Ivaylo
01 Jun, 2006
New York City
Dropping commodity prices also hurt mining stocks. The London-listed miners headed the list of dropping stocks, as copper prices declined in early trade. Oil companies however, provided some respite as crude prices remained steady ahead of a meeting of Opec oil ministers in Caracas later in the session. London
Ivaylo
01 Jun, 2006
Metals
Gold didn
123jump.com Staff
31 May, 2006
New York City
Market averages rebounded after declining for most of the last week and yesterday. Decline in oil and precious metals prices helped investors to step-in. Stocks in Europe staged a mild rebound, rising 1% across the region at close. Latin American averages closed higher on the release of Brazil Q1 GDP growth of 3.4% beating the estimates of 2.7%. FOMC meeting minutes showed policymakers grappling with the rate hike decision.
Elena
31 May, 2006
Frankfurt
European stocks finished sharply higher, boosted by telecom and other defense stocks. Deutsche Telekom gained 2.6%, Telecom France rose 4.2%, and U.K. Vodafone Group closed up 2.7%. Utilities stocks were also strong, benefiting in part from U.S. utility NRG Energy, which rejected an $8 billion bid from rival Mirant Corp. The German DAX 30 climbed 1.3%, the French CAC 40 gained 0.7%, and London FTSE 100 rose 1.3%.
Elena
31 May, 2006
New York City
Stock markets traded higher, supported by retreating oil prices. In merger-and-acquisition news, ADC Telecommunications dropped 19% after it agreed to acquire fellow equipment maker Andrew Corp. in a $2 billion stock swap worth $12.76 per share. ADC also posted a 32% drop in quarterly earnings.
