- Ivaylo
- 10 May, 2007
- New York City
European markets were little changed on Thursday morning, with investors waiting for interest rate decisions by the Bank of England and by ECB. The Bank of England is expected to hike rates, while ECB to keep them unchanged. Britain''s Blair will step down as prime minister on June 27, after a decade in office. The U.K. FTSE 100 index edged down 0.1%, the German DAX Xetra 30 index was up 0.1% and the French CAC-40 index traded 0.1% lower.
- Ivaylo
- 10 May, 2007
- New York City
Cocoa futures surged to three-week highs Wednesday, supported by a soft dollar that encouraged speculator and fund buying. A report out Wednesday announced that Nigeria''s beans may have been damaged by too much rain. The heavy are expected to boost Nigerian midcrop development, but it will make it difficult for farmers to sun-dry the beans after fermentation and may degrade quality. All the precious metals declined on Wednesday. Energy futures ended mixed.
- 123jump.com Staff
- 09 May, 2001
- New York City
The Fed kept the federal funds rate at 5.25%, unchanged since June 2006. Investors gave a boost to stocks hoping the Fed would cut rates by year-end. OfficeMax jumped 8.3%. Cisco posted a 34% quarterly profit rise and shares slid 6%. News Corp. lost 2.1%. Alltel advanced 2%. Rio Tinto climbed 11% amid market speculation that BHP Billiton launched a takeover offer for it. Toyota forecast slowest profit growth in ten years.
- 123jump.com Staff
- 09 May, 2007
- New York City
Barnes Group, metal maker and distributor, revenue rose 20% and earnings rose to 50 cents per share from 36 cents a year ago. The company revised its annual earnings outlook. EFunds, electronic payment solution provider reported earnings of 22 cents but said that it has been approached by investment banks to explore strategic alternatives. Leap wireless earnings fell on higher customer acquisition cost but stock jumped 6%.
- 123jump.com Staff
- 09 May, 2007
- New York City
The Federal Reserve left short term rates unchaged at 5.25% and said that the economy is slowing and housing sector is going through adjustment process. Rates have remained at this level since June of 2006 and are forecasted to decline by most economists at the end of the year. 10-year bond yield rose to 4.65% and doallar fell after the news.
- Elena
- 09 May, 2007
- New York City
European stock markets recovered from recent losses to finish higher on Wednesday. Rio Tinto jumped 10% in London on speculation that the company had rejected a bid of $110 a share from competitor BHP Billiton which rose 5.4%. Among earnings-related gainers, BNP Paribas climbed 4.2% on higher-than-expected Q1 profit. The DAX Xetra 30 rose 0.5%, the French CAC-40 added 0.3%, and the U.K.''s FTSE 100 closed flat at 6,549.60.
- Elena
- 09 May, 2007
- New York City
U.S. stock averages continued to trade in the negative, awaiting the Fed Reserve''s decision later today. Among companies in focus, Toyota Motor reported a 9% profit increase in Q1 on 10% revenue growth, helped by robust U.S. and European sales. The stock lost 0.6%. Among other companies releasing quarterly earnings, News Corp. posted 6.2% earnings increase to 27 cents a share, coming in line with analyst estimates. Company''s shares fell 1.6%.
- Elena
- 09 May, 2007
- New York City
Mining company Rio Tinto Group rose to a record 7.3% in London on speculation of a takeover bid from BHP Billiton Ltd. Rio Tinto said it was not aware of any approach. A union would create the world''s largest copper producer and iron-ore miner.
- Elena
- 09 May, 2007
- New York City
Wall Street started trading lower, reflecting cautiousness before the FOMC meeting, as well as weakness in the tech sector amid disappointing revenue forecast from Cisco Systems. Investors, who expect that interest rates will remain unchanged, are more concerned about the central bank''s economic assessment statement. Walt Disney weighed on the Dow, falling 1.2% after posting lower-than-expected revenue.
- Ivaylo
- 09 May, 2007
- New York City
Excitement in opening deals this morning over rumours that BHP Billiton is approaching rival Rio Tinto has faded away amid a mixture of ex-dividends, a possible US interest rate hike today and some cautious trading statements weighing on the benchmark. General retail is in focus as electronics retailer DSG and Home Retail are both higher on another set of strong sales figures for April. In the wider market in mid-afternoon trading, the FTSE 100 is 0.18% lower at 6,538.
- Elena
- 09 May, 2007
- New York City
U.S. stock futures moved to the downside on Wednesday amid cautiousness before Fed Reserve
- Ivaylo
- 09 May, 2007
- New York City
Regional markets closed higher Wednesday, with Japanese markets advancing as investors sold NTT DoCoMo and other stocks tracking a flat performance on U.S. markets ahead of the Federal Reserve''s meeting on interest rates. The Shanghai benchmark index in China ended above the key 4000 level for the first time on a strong demand for large-cap stocks that prevailed over profit-taking pressure.
- Ivaylo
- 09 May, 2007
- New York City
The benchmark index opened with a positive bias but slipped in morning deals on weakness in technology stocks. The Sensex recovered in late deals on a surge in banking shares. Trading was highly volatile and the market-breadth ended negative. SBI and ICICI Bank led the advancers, while TCS was the worst performer. The Indian government fixed a floor price of 850 rupees for its stake in Maruti.
- Elena
- 09 May, 2007
- New York City
Legg Mason posted earnings of $172.5 million, or $1.19 a share, compared with $150.1 million, or $1.03 a share a year earlier. The asset manager said that quarterly revenue increased 8.5% to $1.14 billion from $1.05 billion as the company had more average assets under management. Company
- Ivaylo
- 09 May, 2007
- New York City
European market advanced on Wednesday, powered by talk of consolidation in the mining sector in London and recovering banking stocks after the previous session profit taking. Mining companies led advancers, on speculation Rio Tinto Group will receive a bid from BHP Billiton. By late morning, Frankfurt Xetra Dax added 0.4%, the CAC 40 climbed 0.3% and London FTSE 100 gained 0.3%.