Elena
31 May, 2006
Mumbai
Following a global decline the Sensex opened lower only to experience a morning session of high volatility and a sharp decline of 7% of 675 points. In the afternoon, the benchmark regained lost ground to finish only 3.60% lower. Among the factors involved are global markets weakness, lower base metal prices and falling auto, banking and cement shares.
Elena
31 May, 2006
New York City
Stocks moved higher at opening, helped by bargain hunting. Trading was subdued as investors awaited the release of the FOMC meeting minutes, expected to give a clue about further interest-rate hikes. In earnings news, Tiffany & Co, jewelry retailer, reported that Q1 earnings advanced to 30 cents a share, from 27 cents a share a year ago, beating estimates of 28 cents. Revenue advanced 6%.
Elena
31 May, 2006
New York City
Stock futures were poised to a strong opening Wednesday ahead of the Fed Reserve FOMC minutes release. Costco, warehouse retailer, reported Q3 earnings of $235.6 million or 49 cents per share compared to $209.8 million or 43 cents per share last year. Analysts had been expecting the company to earn 50 cents per share.
Elena
31 May, 2006
New York City
Comcast and Time Warner were accused of price-fixing and bid-rigging in their submission of a joint bid instead of competing against each other to acquire Adelphia''s assets. The America Channel claimed in its lawsuit that the deal violated federal antitrust laws and would reduce competition in the cable TV industry.
Ivaylo
31 May, 2006
New York City
The steep fall of U.S. stocks overnight, together with the rise in oil prices, pulled Japan
Ivaylo
31 May, 2006
Frankfurt
European market recovered early losses Wednesday as banks and oil stocks reversed the downtrend, helped also by strength in telecoms stocks, which have exhibited defensive qualities during market volatility recently. By mid morning London
Ivaylo
31 May, 2006
Metals
Traditionally regarded as a safer alternative to the dollar, gold rose yet again in the wake of the greenback fall versus the euro, following the replacement of the U.S. Treasury Secretary. The decline in the outlook in the labor market was another blow to the already enfeebled dollar.
123jump.com Staff
30 May, 2006
New York City
Worries of inflation, interest rate uncertainty and rising prices of oil and commodities took market averages down around the world. In the overnight trading Asia declined led by a fall in Thailand and Korea. In Europe averages closed lower across the region as eight of the twelve major markets declined. Latin American markets closed lower led by a sharp decline of 4% in Brazil. Russia closed 1% lower.
123jump.com Staff
30 May, 2006
New York City
Markets declined in Latin America for the third day in a row afte steadily rising in the first four months of the year. Bovespa index in Sao paolo lost 4% on worries that rising interst rates in the U.S. will force investors to pull capital from its market. Index has gained 90% in the last 12 months but is now up less than 10% since the beginning of the year. Argentina and Mexico lost 3.4% and 3.1%.
123jump.com Staff
30 May, 2006
New York City
Market averages maintained their negative bias as Nasdqaq lost 1.5% and Down and S&P 500 lost 1.3% in the afternoon trading. Tribune, publishing company plans to acquire 25% of its outstanding shares. Gold rose as much as $12. Crude oil rose 2% before settling 1% higher. General Motors sotck trades 5% lower on a downgrade from Deutsche Bank. Freddie Mac to report earnings after the close.
Elena
30 May, 2006
Frankfurt
European markets closed steeply down on speculations about interest-rate increases and lower economic growth. Weakness on Wall Street contributed by sliding dollar, resurgent oil prices, and disappointing corporate news also weighed. European auto stocks like Volkswagen and BMW notably declined on the weaker dollar. EADS showed a significant loss of 4.5%. The German DAX 30 dropped 2.3%, the French CAC 40 slid 2.4%, and London FTSE 100 tumbled 2.4%.
Elena
30 May, 2006
New York City
U.S. stocks extended losses Tuesday, dragged by disappointing same-store sales from Wal-Mart and climbing oil prices. The Nasdaq dropped 1% and the Dow industrials fell more than 100 points. Shares of Goldman Sachs fell 1.5% on the heels of news that the company''s Chairman and CEO Henry Paulson was nominated to replace John Snow as Treasury Secretary.
Elena
30 May, 2006
New York City
The market experienced another streak of volatile trade. The benchmark plummeted 100 points, following a gain of as much as 100 points earlier in the trading. Market averages traded in a volatile fashion on a declining trading volume. Cement maker Madras Cement released expansion plans and Jindal Steel emerged as sole bidder for a steel manufacturing plan in Bolivia.
Elena
30 May, 2006
New York City
Stocks opened sharply lower Tuesday as investors locked in recent profits. Dow component Wal-Mart declined 2% after the retailer said its May same-store sales are expected to be near the low end of its previous guidance. General Motors fell 3% after Deutsche Bank downgraded its rating on the auto maker. Kinder Morgan climbed 21% after an investor group led by its management offered to acquire the company for $100 per share in cash.
Elena
30 May, 2006
New York City
U.S. stock futures seemed poised to a weaker start after the long holiday weekend and ahead the minutes of the FOMC meeting. Disappointing news on Wal-Mart same-store sales also generated negative sentiment, sending the stock down 2%. Wal-Mart reported May comparable store sales growth of 2.3%, the low-end of the 2 to 4% range that the retailer forecast earlier this month. General Motors declined 3% on brokerage downgrade.
