- 123jump.com Staff
- 05 Jul, 2007
- New York City
Sensex edged lower on firm trading in rupee, lower closing in Asian markets, and a decline in cement and software stocks. Property developer DLF Limited priced its $2.2 billion IPO, largest-ever IPO in India valued at 29 times earnings. strong economic growth and rising properties has propelled several realty stocks to a record high. Autos and banks gained for the second day in trading.
- Elena
- 05 Jul, 2007
- New York City
U.S. stock markets reopened lower on Thursday after the Independence Day holiday, hurt by surging crude oil prices and rising bond yields. Oil prices hovered near $72 a barrel ahead of weekly petroleum report. Stocks failed to sustain the positive pre-market mood, despite 27% rise in the shares of Hilton Hotels after Blackstone Group''s $26 billion acquisition offer. Investors also digested the interest rate hike by The Bank of England to 5.75%, which exerted pressure on the dollar.
- Elena
- 05 Jul, 2007
- New York City
The offer exceeds a previously agreed deal with Dutch group Basell. Apollo division Hexion Specialty Chemicals offered $27.25 a share in cash for Huntsman, representing an 8% premium to an offer of $25.25 a share, or $5.6 billion, from Basell.
- 123jump.com Staff
- 04 Jul, 2007
- New York City
Global markets conitnued to climb on the day when markets in New York were closed. European markets closed higher across the region on takeover rumors and positive earnings outlook. Hotel and property stocks were lifted on the $20 billion buyout for Hilton Hotels. Chipmakers in Asia and Europe rallied on expectations of price hikes. Nuclear industry related stocks rallied in Tokyo. Bank of England is expected to increase rate by 25 basis points tomorrow.
- 123jump.com Staff
- 04 Jul, 2007
- New York City
Several Asian markets closed at record levels for the second day in a row on strong momentum and positive earnings outlook. South korea, India, Indonesia, and Hong Kong reached a new high. Shanghai fell on the worries that tighter lending may slow the earnings growth. Successful IPOs and rising cement stocks in India lifted the average to a record. Shipbuilders and financials supported South Korean record close.
- Elena
- 04 Jul, 2007
- New York City
European stock markets closed higher for a second straight session. Hotel companies led advancers, boosted by takeover activity. Hilton Hotels Corp. agreed to be acquired by Blackstone Group LP for $20 billion. Following the news, InterContinental Hotels Group Plc gained 4.7%, French hotels operator Accor SA rose 7.8%, and NH Hoteles moved up 3.1% in Spain. The FTSE 100 rose 0.5%, CAC 40 gained 0.5%, while DAX added 0.3 %.
- Elena
- 04 Jul, 2007
- New York City
Blackstone will pay $47.50 for each share, a 32% premium over its closing price Tuesday. The second biggest U.S. hotel chain decided to go private after more than 60 years as a public company. The acquisition deal, which is a record for the hotel industry, totals $26 billion including the assumption of debt.
- 123jump.com Staff
- 04 Jul, 2007
- New York City
Sensex closed up 0.5% to 14,880, record close for the third day in a row on rising cement stocks. ACC surged 7% on the news that cement companies have hiked prices effective today. Cement companies have ignored government please of price control The central governement for the last four months had sought price control. Vishal Retail soared on firt day in trading a day after Spice Telecom priced its IPO. Indiabull Real Estate prices its GDR at $10.32.
- 123jump.com Staff
- 03 Jul, 2007
- New York City
U.S. market averages traded higher from the opening. Manufacturing orders in May fell 0.5%, less than expected and home resale index showed a softer than anticipated home market. Deals worth $11 billion were annouonced lifting the averages ahead of July 4th holiday. Goldman Sachs analyst estimated Apple sold nearly 0.7 million iPhone in the launch weekend. Markets in Hong Kong, India, Indonesia and Thailand closed at record high. Taiwan closed at 7-year high.
- Elena
- 03 Jul, 2007
- New York City
European stock markets closed in the positive territory, helped by strength on Wall Street. The tech sector was in focus after SAP admitted to
- Elena
- 03 Jul, 2007
- New York City
U.S. stock averages continued to trade higher, as a smaller-than-expected drop in factory orders and fresh merger deals generated positive sentiment. The Commerce Department reported that orders for U.S. factory goods fell 0.5% in May, compared with predictions of a decline of more than 1%. Airline stocks posted significant strength in late morning trading, with Continental, up 10%, leading the sector higher. Other notable gainers included brokerage, networking, and computer hardware stocks.
- 123jump.com Staff
- 03 Jul, 2007
- New York City
Sensex 30 in India closed at a record high for the second day in a row, up 1% to 14,806. Telecom and consumer products companies led the market rise. Spice Telecom, mobile telphone operator IPO was oversubscribed 37 times. Bharti Airtel awarded $900 million contract to Nokia Siemens venture. Hindustan Unilieve, State Bank of India and Bharti Airtel jump nearly 3%.Cement stocks rallied for the second week. Larsen toubro plans to sell its entire stake of 11% in UltraTech Cement.
- Elena
- 03 Jul, 2007
- New York City
U.S. stocks opened higher, extending recent advance on the back of more deal news before the Independence Day break. However, gains were modest as investors remained cautious ahead of data on the manufacturing and housing sectors. Automakers are in focus Tuesday, due to the release of June auto sales. Ford lost 3.4%, while General Motors dropped 3% as another month of weak sales reports is expected.
- Elena
- 03 Jul, 2007
- New York City
U.S. stock futures predicted a higher market opening on Tuesday, a day before the Independence Day break. Among pre-market highlights, automotive stocks attracted attention on June sales data. Sales at Ford Motor are expected to fall between 7% and 9% with market share down to 15.9%. General Motors sales are seen falling as much as 13%, with its market share down about 3 percentage points to 23.9%.
- Elena
- 03 Jul, 2007
- New York City
Kraft Foods announced Tuesday that it launched a bid of 5.3 billion euros ($7.2 billion) in cash to acquire the biscuit division of French food company Groupe Danone SA. Kraft believes that the purchase will expand its presence in the snacks business and help transform company