123jump.com Staff
22 May, 2006
New York City
Market averages remain under pressure for the second week in a row. Gold and oil fell in the morning trading. European and Asian market closed lower. Japan lost nearly 2% and India plunged 4.2% and Indonesia slid 6%. Germany, UK and France closed below 2% or more. Brazil and Mexico are close to 4% down.
Elena
22 May, 2006
Frankfurt
European markets closed in the red, continuing a downward trend started last week when inflation and higher interest rates weighed. On Monday market sentiment was hurt by a heavy sell-off in the metals and energy sectors, reflecting a decrease in commodities prices. The German DAX 30 slipped 2.2%, the French CAC 40 tumbled 2.56%, and London FTSE 100 dropped 2.2%.
Elena
22 May, 2006
New York City
NYSE offered to acquire Euronext for $10.2 billion, swapping each of its shares for 0.98 share of Euronext and $27.22 in cash. The deal values Euronext at about 5% below its Friday closing price of $95.24, and outbids a rival $82-per-share bid from Deutsche Boerse. NYSE Group fell $3.28 to $61.22, and Nasdaq fell $2.95 to $30.10.
Elena
22 May, 2006
New York City
Inflation concerns as well as a heavy sell-off in commodities stocks sent stock markets lower. Falling oil prices dragged on the energy sector, sending Dow component Exxon Mobil Corp. down 59 cents to $59.86, and ConocopPhillips down 68 cents to $62.04. The gold sector posted a particularly sharp decline, falling by about 3.5%.
Elena
22 May, 2006
New York City
U.S. stock futures opened lower as worries about inflation and higher interest rates weighed. Sharp declines in overseas markets also generated negative sentiment. Lowe''s Cos., home improvement products retailer, reported Q1 earnings rise of 44% to $1.06 a share, up from a profit of 73 cents a share a year ago, beating estimates. Sales soared 20.3%.
Elena
22 May, 2006
New York City
Indian market lost 4.2% at close but dropped 10% in the first two hours of trading triggering trading halt for one hour. Liquidity driven market has lost 20% from its peak on May 10th then Sensex reached 12,612. Asian markets closed lower led by steep declines in Indonesia, Korea, Thailand and Japan. Trading volume on the exchange was light and mutual funds with liquidity stayed on the sidelines. International investors continued to sell.
Elena
22 May, 2006
New York City
The offer launched by the NYSE Group Inc. outbid a rival offer for the European stock exchange operator from Germany''s Deutsche Boerse. The merging of the two stock exchanges would create
Ivaylo
22 May, 2006
New York City
The Nikkei shed 1.8%, although it advanced in early trading. Its gains remained limited, despite the abated concerns about U.S. inflation and the strength o yen against the dollar. Investors still worry about possible interest hikes and the unstable U.S. stocks. Elsewhere across the region, Hang Seng Index shed 2.5%, South Korea''s Kospi Index settled 2.5% lower and Australia''s S&P/ASX 200 lost 0.3%.
Ivaylo
22 May, 2006
New York City
Commodity prices were in retreat, as base metals alongside gold and silver slid. Asian equities were hit in late trading, despite early gains. The banking sector was hit the hardest as investors turned into sellers on concerns that losses might turn into future profits. London
Ivaylo
22 May, 2006
Metals
June gold dipped to a two-and-a-half week low as comments from Federal Reserve
123jump.com Staff
19 May, 2006
Metals
Market averages closed higher led by a late hour rise in Nasdaq. Dell earnings supported rise of 8% in Advanced Micro. Fear of rising interest rates rattled markets around the world as markets in Europe, Asia and Latin America declnied between 5% and 19% during the week. Russia closed 19% lower and India lost 13%. Gold lost 10% and silver lost 12% in the last six trading days. Copper lost 7% in NY trading today. Benihana, Rackable Systems and retailer Hibbett Sporting Goods plunged.
123jump.com Staff
19 May, 2006
New York City
Market remained unsettled for the most part of trading session. Market averages charted volatile path with no clear direction. Market has been unsettled as of may 10th when Fed raised interest rates and gave no clear direction for the future rate hikes. Gap inc revenue declined 17% and guided that same-store sales will stop falling in the second half of the year. Benihana dropped 25% on lowered earnings guidance. Hibbett Sporting Goods fell 10% and Rackable Systems fell 9%.
Elena
19 May, 2006
Frankfurt
European markets closed mostly higher, helped by gains for BNP Paribas, British Airways and a lifted bid for steel maker Arcelor. BNP Paribas climbed 3.5% Arcelor climbed 9% after Mittal raised its bid 34% to nearly $33 billion. The German DAX 30 added 0.1%, the French CAC 40 rose 0.7%, while London
Elena
19 May, 2006
New York City
Mittal Steel raised its hostile bid for rival steelmaker Arcelor SA by 34% to $32.9 billion in cash and stock. Should the takeover take place, the two joined companies would have control of 10% of the world''s steel production. Arcelor rejected an earlier offer of $27 billion, but said it would consider the new bid.
Elena
19 May, 2006
Mumbai
The news that the Indian government will introduce guidelines to draw a distinction between investment and speculative trading is still rattling the market, despite state clarification that it will be done carefully not to affect international investors. The benchmark was off to a positive start but quickly got caught in volatility and closed 4% lower.
