123jump.com Staff
23 May, 2006
Metals
Market averages maintained positive bias in trading but the real action was in metals and oil trading pit. Gold, silver and copper rose near the close of trading hours. Gold rose as much as $20 but settled $16 and silver rose as much as 74 cents and settled near high for the day. BHP Billiton, Southern Copper Peru and Phelps Dodge rose during the day. Oil rose 7% at peak but closed up 2.5% or $1.80 per barrel. Copper rose 10%.
Elena
23 May, 2006
Frankfurt
European markets recuperated from steep losses yesterday to close sharply higher Tuesday, lifted by mining and energy companies, as well as technology stocks. Miners like BHP Billiton, Rio Tinto and oil giants like BP and Royal Dutch Shell advanced on higher commodities prices. The German DAX 30 surged 2.4%, the French CAC 40 rallied 2.5%, and London FTSE 100 climbed 2.6%.
Elena
23 May, 2006
Metals
Aluminum producer Alcoa and oil company Exxon Mobil Corp. boosted the Dow industrials. Alcoa rose 35 cents to $31.50, and Exxon was up 74 cents at $61.52. Gold stocks showed a notable upward move, benefiting from a significant increase in the price of the precious metal. Toll Brothers posted better-than-expected Q2 earnings, but cut its 2006 profit. Toll Brothers rose $1.44 to $28.34. Goodyear Tire advanced 4.4% following an upgrade by Deutsche Bank.
Elena
23 May, 2006
Mumbai
The market recovered in late afternoon trading after trading in a range of 850 points. After two weeks of weak trading and losing 17% from the record high on May 10th, market rebounded on a lower trading volume. Steel stocks led the gainers as China
Elena
23 May, 2006
New York City
U.S. stocks advanced on strong earnings from Toll Brothers and a rebound in commodities prices. Energy stocks benefited from a notable increase in the price of oil, up 96 cents to $70.92 a barrel. The gold sector gained as an increase by the price of the precious metal led traders to do some bargain hunting. Gold for June delivery was up $9.70 at $667.50 an ounce.
Elena
23 May, 2006
New York City
U.S. stock futures indicated a lower start of Tuesday session. Homebuilder Toll Brothers cut its full-year earnings guidance, while reporting a 3% rise in Q2 net income to $174.9 million, or $1.06 a share, beating estimates of $1.03. Revenue rose 17% and the company''s quarter-end backlog rose 3%.
Elena
23 May, 2006
New York City
Euronext said that the new details of the bid were misleading and said that the $10.2 billion offer by the New York Stock Exchange remained more attractive. The plan from Deutsche Boerse would include 870 million euros in cash for Euronext shareholders, lower than the 2.4 billion euros cash element of the NYSE offer.
Ivaylo
23 May, 2006
New York City
Japan''s Nikkei Average plunged on weak financial shares, especially at the world''s biggest bank by assets, Mitsubishi UFJ Financial Group Inc., which declined 6.1%. Shares in Taiwan lost as much as 1.4% while South Korea''s Kospi index edged 0.7% lower. Singapore bucked the downtrend to advance 0.53%.
Ivaylo
23 May, 2006
Frankfurt
The slight recovery in New York and the less steep decline of Asian bourses came as a much relished relief to the oil and mining companies in Europe, helping the region to a good start Tuesday. Oil prices soared again, due to fears starting to mount of a severe hurricane on the way. London
Ivaylo
23 May, 2006
Metals
Markets could be gearing up for consolidation after the run-up to 26-year highs, which led to profit-taking withdrawal. Markets may also be impacted by the economic data about existing-home sales and new-home sales and the movement of the dollar they have been released.
123jump.com Staff
22 May, 2006
New York City
Market averages fractional decline at close fails to explain strong undercurrent of negative bias. The averages lost at one point close to 1% in Dow and S&P 500. Nasdaq index closed 1% lower. Metals, mining, and international stocks declined the most in New York trading. Gold fell as much as $20 and oil lost 2% before recovering to close 1% higher. New York Exchange proposed $10 billion for Euronext. Bausch & Lomb receives IRS notice for $200 million of back taxes. Russian main index lose 9%.
123jump.com Staff
22 May, 2006
New York City
Corning maker of flat panel glass among other advanced materials cautioned investors of production problems. The company still maintained its earnings guidance of 24 cents to 26 cents per share for the quarter. The company forecasted flat TV penetration of 19% in the market and shipment volume target raised from 38 million to 41 million for the year.
123jump.com Staff
22 May, 2006
New York City
Decline in market averages left few stocks in the positive territory. Financials, techs and industrial stocks led decliners in New York. Gold and silver reversed the earlier course and closed higher but copper lost at close. Bausch & Lomb received a tax notice to the tune of $200 million. The company has been caught in a product recall, accounting restatements and a FDA investigation. The stock has lost 30% in two months of trading.
123jump.com Staff
22 May, 2006
New York City
Market averages remained under pressure worldwide. Markets in Asia and Europe closed lower for the second week on the heels of lower metals and oil prices and worries of rising inflation and interest rates. Mittal improved on its offer for Arcelor and offered to cut its stake to 45% of the combined company. Mittal also proposed a $800 million plan to modernise iron ore mine production in Ukraine.
123jump.com Staff
22 May, 2006
New York City
Russian index RTS declined 9.1% for the day and lost 25% in last eight trading days. Market averages have been on the slide for more than two weeks as world prices of metals and oil have come under heavy pressure. Leading oil, metals and telecom companies led the decliners. Gazprom lost 12%. Other emerging markets around the world suffered steep declines. Indonesia lost 6%, Brazil, Mexico and Norway declined close to 5% and India retreated 4%. India lost 20% in less than ten trading days.
