Elena
26 May, 2006
New York City
Stock futures pointed to a lackluster opening ahead of holiday weekend and economic data. On Friday steelmakers are seen in the spotlight as Arcelor SA, rejecting a hostile bid from rival Mittal Steel Co., reached a deal that would give it a controlling stake in Russian largest steelmaker Severstal and $1.59 billion in cash in exchange for 32% of Arcelor.
Elena
26 May, 2006
New York City
The jury returned guilty verdicts against the two executives. Kenneth Lay was convicted of all six counts in the main trial, as well as of four charges of bank fraud and making false statements to banks in a separate non-jury trial. Skilling was convicted of 19 counts of fraud, conspiracy and insider trading.
Ivaylo
26 May, 2006
New York City
Japan
Ivaylo
26 May, 2006
Frankfurt
On Thursday, European stocks recovered some of their recent losses but trading volumes were slimmer than usual with several markets closed for the Ascension Day holiday. European markets traded higher in the morning session, benefiting from a strong close in New York. The FTSE 100 in London gained 0.6%, the Xetra Dax in Frankfurt was up 0.5% and the CAC 40 in Paris advanced 0.6%.
Ivaylo
26 May, 2001
New York City
However, traders described the trading session as one of the calmer ones for a while, with activity softened before a long holiday weekend. The increase happenss after June gold had plunged $36.20 on Wednesday and July silver had lost 65.5 cents. Other futures, such as oil and gasoline also advanced.
123jump.com Staff
25 May, 2006
New York City
Market showed a positive bias at the opening. Averages gained strength as the day progressed on the steady buying from mutual funds. Tech stocks led the early rise and rally spread to large-cap stocks. Market rise for the second day in a row convinced buyers to step in on the revised grwoth rate of GDP to 5.3% in the first quarter. April existing-home sales declined 2%Mastercard IPO raised $2.39 billion at a price of $39 per share. Regions Financial agreed to buy AmSouth for $10 billion.
123jump.com Staff
25 May, 2006
New York City
Economic data, guilty verdict and large IPO kept investors bidding up stocks. Nasdaq is approaching 1% rise and Dow and S&P 500 are up 0.7%. Mastercard launched its IPO at $39 and raised $2.39 billion. The stock rose $5 in the late afternoon trading. First Quarter GDP was revised to 5.3% from 4.8% after rising 1.7% in the fourth quarter. Ken Lay and Jeff Skilling were found guilty in Enron trial. Gold traded $6 up.
Elena
25 May, 2006
Frankfurt
European stocks posted solid gains in the afternoon, leading averages to robust close. Strong U.S. markets opening, gains for miners, and well-received corporate news boosted European stocks Thursday. Mining companies Anglo-American and Kazakhmys advanced, Tate & Lyle gained 5.6% after reporting strong quarterly profit growth, and U.K. bank Barclays added 1.2% on positive Q1 results. The German DAX 30 climbed 1.6%, the French CAC 40 surged 2.1%, and London FTSE 100 rose 1.5%.
Elena
25 May, 2006
New York City
Stocks were positive, supported by corporate news, economic data and market debut for Mastercard. Shares of eBay Inc. rose 7% after Prudential raised its rating on the Internet auctioneer. The company also announced an advertising alliance with Yahoo Inc. which rose 3.6%. Oil and gas producer Stone Energy climbed 20% after Energy Partners offered to acquire the company for about $2 billion.
Elena
25 May, 2006
Mumbai
Powered by the large-cap stocks, the market saw strong activity in the second half of trading, recovering from lower start of session. At one point in the morning trading the Sensex even hit a low of 10,274 on selling pressure. In the second half of trading investors sought bargains helping the benchmark into hitting a high of 10,720, reclaiming 446 points. Index closed up 93 points.
Elena
25 May, 2006
New York City
Joy Global reported more-than-doubled quarterly profit, but slipped 16% on disappointing sales and warning that it would not be able to continue the strong profit performance. Coldwater Creek guided 61 cents to 64 cents for the fiscal year. The stock fell nearly 8%. Shares of Petco Animal Supplies dropped 6%.
Elena
25 May, 2006
New York City
The Commerce Department released its revised report on Q1 GDP, which showed that GDP grew at an annual rate of 5.3% compared to the 4.8% growth previously reported. The increase was primarily due to upward revisions to private inventory investment and exports. The report also showed that consumer prices, excluding food and energy prices, rose 2% in Q1, unchanged from the previous report.
Elena
25 May, 2006
New York City
U.S. stock futures looked poised to a flat or slightly higher opening, supported by Wal-Mart which gained 2% in pre-market trading after Banc of America Securities raised the stock to a
Elena
25 May, 2006
New York City
The lower IPO price is a consequence of a volatile market and concerns about its increasing legal problems. Today 61.52 million shares, representing a 46% stake in the company, will begin trading under the symbol MA. The deal values MasterCard, owned by its 1,400 member banks, as an almost $6 billion company.
Ivaylo
25 May, 2006
New York City
Deaths, connected with the sudden outburst of bird flu in Indonesia ground down market confidence. In afternoon trading, the Nikkei 225 Average dropped 1.5%, led down by financials and export stocks in spite of dollar strength versus the yen. Shares across the region also fell. Australia, Shanghai, South Korea and Singapore declined considerably. Taipei fell slightly. Malaysia slid into the red after modest gains in early session.
