Ivaylo
14 Jun, 2006
Metals
Losses for gold began in Asia, when spot prices dropped below $600 a troy ounce, and moved later into the London and New York sessions. Gold''s way below $600 toward the end of Asian trade set the tone for today with traders staying firmly on the offer for the rest of the day.
123jump.com Staff
13 Jun, 2006
Metals
Market averages remained under pressure as investors weighed falling oil and metals prices and worries on rising inflation and interest rates. Core PPI for the month of May was reported at 0.3% near the upper end of the comfort of Fed. Market is awaiting report on CPI tomorrow. Gold dropeed 7% or $44.50, highest one-day decline in 26 years. Silver fell 13%. Russia and Colombia dropped close to 10% in one-day delcine.
Elena
13 Jun, 2006
Frankfurt
European markets ended deeply in the negative, moving to their lowest levels in seven months as U.S. key data raised concerns over slowing economy and interest rate increases. Mining, pharmaceutical and financial stocks stood out among the biggest decliners. The German DAX 30 fell 1.9%, the French CAC 40 dropped 2.2%, and London FTSE 100 tumbled 1.8%.
Elena
13 Jun, 2006
New York City
Stocks turned to choppy trading in late Tuesday session, with investors digesting key inflation data. Shares of chip maker Intel Corp. and software maker Microsoft Corp edged up on bargain hunting after the recent decline of the technology sector. Intel rose 0.7% to $16.97 although Prudential cut its price target on the stock. Microsoft gained 0.9% to $21.90.In earnings news, Best Buy Co. Inc. reported 38% profit jump, sending the stock 4% higher to $50.99.
Elena
13 Jun, 2006
Mumbai
The Indian benchmark seems to be in correction mode over the past few days. It has plunged sharply by 28.50% from its all-time high on 11 May 2006, as markets witnessed sharp decline. Global markets plunged today as well on worries of higher interest rate costs, expected to hurt corporate profits.
Elena
13 Jun, 2006
New York City
Stocks opened lower but gained some ground during the first half an hour, despite troubling wholesale inflation data. In corporate news, Goldman Sachs reported Q2 net earnings more than doubled to $4.78 a share, compared with $1.71 a share last year on the strongest quarter in 6 years at its investment banking unit as well as strong trading results in fixed income and equities.
Elena
13 Jun, 2006
New York City
Stock futures loooked poised to continue recent losses, following a couple of economic reports. The Labor Department report showed that wholesale prices rose 0.2% in May after a 0.9% increase in April, well below economist estimates of an increase of about 0.5%. At the same time, core prices, which exclude food and energy prices, rose 0.3% in May following 0.1% increases in the previous two months.
Elena
13 Jun, 2006
New York City
Severstal''s controlling shareholder, Alexei Mordashov, will pay Arcelor 1.25 billion euros ($1.59 billion) in cash and hand over his stake in all of Severstal''s steel assets and Italian steelmaker Lucchini SpA, which Arcelor values at 11.7 billion euros ($14.7 billion).
Ivaylo
13 Jun, 2001
New York City
Japan
Ivaylo
13 Jun, 2006
Frankfurt
Fears still abound reflecting the likely tightening of monitory policy all over the world. The plethora of inflation data due out this week is forecast to put more pressure on interest rates, resulting in higher volatility across commodity markets with copper and gold breaking down through key support levels. In London, the FTSE 100 shed 1.6%, while the German Xetra Dax fell 1.7% and the French CAC 40 dropped 1.9%.
Ivaylo
13 Jun, 2006
Metals
At times, gold managed to stay into positive territory even when other metals were falling down. The yellow metal may have been supported by concerns that Iran''s nuclear program may go beyond peaceful purposes. All the other precious metals were down in throughout the trading.
Elena
12 Jun, 2006
Frankfurt
European markets finished in the negative as continuous worries about inflation and interest rate concerns weighed on sentiment, offsetting merger-and-acquisition news and speculation. Among the biggest losers were telecommunication stocks like Vodafone and techs shares, including Philips Electronics. The German DAX 30 tumbled 1.3%, the French CAC 40 dropped 0.9%, and London FTSE 100 fell 0.6%.
Elena
12 Jun, 2006
New York City
Stocks have been trading in a lackluster fashion Monday morning, with the Dow lifted by 3% gain for General Motors which reached a buyout agreement with the UAW union. The Nasdaq declined on signficant weakness among tech stocks, largely contributed by Comverse Technology, telecommunications equipment and software maker, which dropped 9%.
Elena
12 Jun, 2006
Mumbai
Volatility dominated the trading, moving in the range of 650 points. After a weak start, the market rebounded in intra-day on solid industrial output data, only to plunge in later trading to below 9500 points. The turnover on BSE was distincly lower than Friday
Elena
12 Jun, 2006
New York City
Stocks opened near the flat line on cautiosness after heavy losses last week. Strong earnings from investment bank Lehman Brothers Holding failed to lift sentiment. Lehman said its Q2 profit rose 48% on its overseas expansion, beating estimates. News of a buyout agreement between General Motors and its workers'' union also raised the market''s confidence in restructuring initiatives at the struggling automaker.
