123jump.com Staff
20 Mar, 2006
New York City
Sharp drop in oil, stable metal prices, and rising Asian and Latin markets kept investors focused to gains in Europe and Asia. Market is awaiting evening comments from Fed Chairman. Mexico reported a strong rise in january industrial prduction, Indian governement wants Central Bank to grant full convertibility to Rupee. One percent rise in Mexico led gainers around the Latin America.
123jump.com Staff
20 Mar, 2006
New York City
Latin markets continue to advance on rising production, stable commodity prices and lower interest rates prospects. Mexcio gains on strong rise in january prodcution and lower interest rate forecast and a local bank reiterating target for the stock marekt index to rise 10% more by the end of the year. Chile and Brazil traded higher on stable copper and iron ore prices.
123jump.com Staff
20 Mar, 2006
New York City
Emerging markets in Asia has been on a tear for the last three years and today was no different. Markets in Indonesia rose on better economic growth prospect, in Hong Kong rose on China Mobile earnings and India surged on Prime Minister request to grant currency, Rupee, full convertibility. Korea and Philippines markets rose as well.
Elena
20 Mar, 2006
Frankfurt
European averages closed off earlier highs, dragged down by a sharp drop in crude oil prices which largely offset gains in the insurance sector, including 14% rise of Prudential, following a rejection of $30 billion bid from its peer Aviva. Resource stocks, lifted by high metals prices, also provided a boost. The German DAX 30 rose 0.4%, while the French CAC 40 and London FTSE 100 closed slightly below the flat line.
Elena
20 Mar, 2006
New York City
U.S. stocks lost ground in late morning with averages turning red as investors locked in profit taking. Crude oil prices slipped about 1.3% falling to $62 a barrel. Consequently, the Energy sector lost 0.7% with oil majors like Exxon Mobil down. Financial and housing stocks were also under selling pressure, following a strong rally last week. Bank of America lost 0.6%, while Wachovia dropped 1.1%. Wal-Mart rose 1.8% on plans for a major expansion in China.
Elena
20 Mar, 2006
New York City
U.S. stocks traded higher in the early going, lifted by acquisition news and optimism over interest-rate hikes. In corporate news, Merck & Co. is expected to announce a deal with privately held Neuromed Pharmaceuticals to develop painkilling drugs. Wal-Mart Stores announced it could hire 150,000 people in China over the next 5 years and open 20 stores in the country in 2006. Williams-Sonoma Inc. reported 6% profit rise for Q4, above expectations.
Elena
20 Mar, 2006
New York City
U.S. stocks advanced at opening with interest rates in focus ahead of Ben Bernanke''s speech after close. Market sentiment was lifted by acquisition news and optimism over interest-rate hikes. Merck & Co. is expected to announce a deal with privately held Neuromed Pharmaceuticals to develop painkilling drugs. Wal-Mart Stores announced it could hire 150,000 people in China over the next 5 years and open 20 stores in the country in 2006.
Elena
20 Mar, 2006
New York City
Stock futures pointed to a higher start of Monday session with interest rates in focus ahead of Ben Bernanke''s speech after close. Market sentiment was lifted by acquisition news and optimism that interest-rate hikes are almost done. Michaels Stores rose 13% before opening after the company announced it put itself up for a sale.
Elena
20 Mar, 2006
New York City
European stocks gained at mid-day dealings as continuous merger speculations lifted the insurance sector. Strong resource stocks and higher close of U.S. markets Friday also contributed to the advance. The German DAX 30 gained 0.6%, the French CAC 40 gained 0.5%, and London FTSE 100 was up 0.5%.
Elena
20 Mar, 2006
New York City
Asian-Pacific markets closed higher Monday, lifted by upbeat outlook on corporate results and strong resource sector on higher metals prices. The Nikkei surged 1.7% to 16,632.74, supported by strong earnings reports. Australia All Ordinaries hit an all-time high of 0.6% at 5,000.4, reflecting strength in mining and resource stocks. Hong Kong''s Hang Seng rose 0.8%, while South Korean Kospi gained 0.4% on brokerage firms.
123jump.com Staff
17 Mar, 2006
New York City
Broader averages found their stable footings in a month when investors are ready for a sell-off. Techs lagged the gains in broader averages but still managed to rise. Crude oil and natural gas advanced 6% and 7% respectively. General Motors closed 5% lower on accounting errors and 2005 loss revision by $2 billion. Emerging markets had a sharp correction in the Middle East but Mexico, Brazil and India gained for the week.
123jump.com Staff
17 Mar, 2006
New York City
Emerging markets for the week advanced in Mexico, India and Brazil but Middle Eastern markets corrected sharply. Mexico advanced every day of the week. Brazil rose on 75 basis points interest decline and India rose on steady flow of funds from local and foreign investors. Dubai, Egypt and Saudi Arabia crashed between 20% and 30% for the week from the three-year highs. Egypt and Dubai has scaled more than 1,000% gains since the year 2002.
123jump.com Staff
17 Mar, 2006
New York City
It was another day of denials and disappointments at General Motors. The company reported that the annual loss for the year 2005 will be revised to $10.6 billion, by $2 billion, and restate earnings dating back to the year 2000. The accounting errors are related to Delphi bankruptcy filing liabilities, restructuring costs and commercial division of GMAC.
Elena
17 Mar, 2006
Frankfurt
European averages closed mixed, erasing some of the earlier gains. Markets sharply advanced at mid-day, lifted by strong rally in the insurance sector but eventually finished off highs. London FTSE 100 hit an intra-day high, crossing the 6,000 level for the first time in five years, but closed only 0.1% up. The French CAC 40 rose 0.3%, while the German DAX 30 fell 0.3%.
Elena
17 Mar, 2006
New York City
Stocks have traded in a narrow range since opening. Boeing was the most conspicuous gainer within the Dow, up 1.3%. United Technologies rose 1.2%. Other notable movers to the upside were Merck, Pfizer and General Electric, each rising 0.8%. General Motors dropped 3.2% on announcement that company would delay the filing of its annual report, due to an accounting issue. AIG fell 2.4% on disappointing Q4 earnings.
