- Ivaylo
- 29 Jun, 2007
- New York City
The market surged on a rally in large-cap stocks, a smooth rollover of June derivatives and softer weekly inflation. Banking and cement stocks soared, while metal stocks tumbled. The market-breadth was strong as there were three gainers for every two decliners. Reliance Energy and HDFC bank rallied, while Hindalco plunged. Wholesale inflation rate declined to a 13-month low and the rupee rose for a second day in a row.
- Ivaylo
- 29 Jun, 2007
- New York City
European stocks advanced slightly on the final day of the second quarter, with investors giving initial response to a statement from the U.S. Federal Reserve that cautiously acknowledged progress on economic growth and inflation. Traders are wary, though, as there is a host of economic data ahead, including a final reading of first-quarter U.K. GDP, euro-zone inflation, and U.S. core inflation. The German DAX 30 gained 0.2%, the French CAC 40 rose 0.2% and the U.K. FTSE 100 slipped 0.1%.
- Ivaylo
- 29 Jun, 2007
- New York City
Gold futures advanced modestly Thursday as the U.S. dollar softened and oil prices gained on worries about gasoline and heating oil supplies. In other commodities markets, agriculture products ended mixed while industrial metals largely climbed as stockpiles of copper, zinc and lead held by the London Metal Exchange dipped.
- 123jump.com Staff
- 28 Jun, 2007
- New York City
U.S. left short term rates unchaged at 5.25%, nearly for a year, citing moderating core inflation and steady economic growth. First quarter GDP growth was revised to 0.7% from 0.6% by the Commerce Department. Weekly unemployment claims fell by 13,000 at the end of last week. Bed Bath & Beyond fell 4% on lower than expected earnings. European markets closed higher across the region. Shanghai fell 4%. Oil inched towards $70 per barrel.
- Elena
- 28 Jun, 2007
- New York City
European stock markets gained ground on Thursday, boosted by solid gains among oil and gas shares, ahead of the Federal Reserve
- Elena
- 28 Jun, 2007
- New York City
U.S. market averages traded mixed, as investors showed reluctance to making big moves ahead of the Fed Reserve''s decision on interest rates. Strength in the energy sector provided some support. Crude oil prices topped $70 a barrel, sending energy stocks up. Despite the higher oil prices, airlines advanced after JP Morgan upgraded six airline stocks. Alaska Air jumped 5%, American Airlines and UAL Corp. rose 3.5% each, while Continental Airlines added 2.8%.
- Elena
- 28 Jun, 2007
- New York City
General Motors announced that it agreed to sell its Allison Transmission business for $5.6 billion to the private equity firm Carlyle Group and Onex Corp. The sale includes seven manufacturing plants in Indianapolis and its global distribution network and sales offices. The deal, which is subject to union and regulatory approval, is expected to complete in Q3. General Motors shares rose 2%.
- Elena
- 28 Jun, 2007
- New York City
Wall Street opened mixed on Thursday ahead of the Fed Reserve''s decision on interest rates. Investors were also digesting a key reading on inflation. Gross domestic product in Q1 was revised to 0.7% from 0.6% previously, while core consumer prices rose at a 2.4% annualized pace in the quarter, revised up from the 2.2% rate previously projected.
- Ivaylo
- 28 Jun, 2007
- New York City
Property stocks led the FTSE 100 in London higher with British Land, Liberty International and Land Securities the main gainers. The rebound is also significant as the property sector has been the worst performing one since the turn of 2007. Strong closes in the U.S. market overnight and Asian markets today also supported the index. Advances in the oil sector and in Vodafone also brightened sentiment. The FTSE 100 was 0.5% higher.
- Elena
- 28 Jun, 2007
- New York City
U.S. stock market futures pointed slightly lower, reflecting cautiousness ahead of the Fed Reserve
- Ivaylo
- 28 Jun, 2007
- New York City
HK rallied Thursday on short-covering before the expiry of important futures contracts, while Japan advanced on car makers with Toyota and Nissan leading the sector. Construction stocks and nonlife insurers led South Korean market to the first gain in four days, while the idea of further government measures in China pulled the market lower. After metal prices advanced, Australia also ended higher with miner BHP Billiton in the lead.
- Ivaylo
- 28 Jun, 2007
- New York City
The benchmark index witnessed a session, dominated by cement stocks. The market traded range-bound in the latter part and ended with a modest gains. Three out of four top advancers were cement shares. ACC led the gainers, together with Gujarat Ambuja and HDFC. Bajaj Auto and ONGC were the worst performing stocks, as they were hurt by selling pressure. US wheat suppliers may not participate in tender in India next week.
- Ivaylo
- 28 Jun, 2007
- New York City
Alleviated fears over bonds yields supported most European markets higher Thursday. European advances tracked a strong session on U.S. markets on Wednesday. Higher commodity prices also buoyed energy and mining companies and as Citigroup Inc. stated shares in the region are cheap. The German DAX 30 index advanced 1% to trade, the French CAC-40 index advanced 0.9%, and the U.K. FTSE 100 index rose 0.7%.
- Ivaylo
- 28 Jun, 2007
- New York City
Crude oil and gasoline futures finished higher on Wednesday after an inventory report that showed that gasoline supplies might be diminishing. Heating oil also rose after a decline in distillate stocks surprised traders. Gold and silver prices declined, while copper futures advanced. Agriculture product prices reacted to changing weather patterns and dropped.
- 123jump.com Staff
- 27 Jun, 2007
- New York City
Falling interest rates, rising tech stocks and crude oil all impacted market averages in New York. May durable goods orders fell more than expected. Financial, brokerage stocks rose again as traders put aside sub-prime lending worries for a day. Oracle, Nike and ConAgra report better than expected earnings. European markets close lower on rate hike worries. Brazil, Argentina and Mexico rebounded. Shanghai bucks the regional trend and closed up. Australia lost 2%.