- Ivaylo
- 18 Jul, 2007
- New York City
The benchmark index saw a heavy volatile session with the Sensex going in and out of positive zone, especially in the last hour of trading. Metal, cement and real estate stocks advanced, while capital goods and sugar stocks declined. The best performer on the market were Hindalco and Bharti Airtel, while Larsen & Toubro and ONGC lost the most. Unitech announced it plans to invest $720 million in four years building 28 hotels with partners including Marriott International.
- Ivaylo
- 18 Jul, 2007
- New York City
Bid talk around supermarket chain J Sainsbury and stronger-than-expected net profit forecast from Heineken could not brighten sombre sentiment in Europe, arising from the re-emergence of worries about U.S. subpirme rates. Man Group and Tate & Lyle eased and tech stocks also disappointed after weak reports from Intel and Yahoo. All western markets were lower by mid-day.
- Ivaylo
- 18 Jul, 2007
- New York City
Commodities saw a broad decline on Tuesday with oil futures retreating from gains made earlier. The weakness in the energy market extended into the precious metals market. Gold futures ended down, following first the dollar and then oil prices. Copper prices dipped as tensions arising from strike action seem to fade. Corn and soybeans gave up gains in Chicago.
- 123jump.com Staff
- 17 Jul, 2007
- New York City
After the close in New York trading, flood of earnings continued. Yahoo reported earnings of 11 cents per share, flat from a year ago on revenue gain of 8%. The company free cash flow and net income declined. Intel reported 44% jump in earnings but gross margins declined to 46% from 52% a year ago. The company guided revenue between $9 and $9.6 billion in the third quarter. Intel declined $1 and Yahoo fell 75 cents in after hours trading.
- 123jump.com Staff
- 17 Jul, 2007
- New York City
Averages in the New York trading did not dispaly the underlying volatility in the market. Earnings from key companies like Merrill Lynch and Wells Fargo helped stocks but Coca Cola and Johnson & Johnson struggled. Most companies are reporting flat or better than expected earnings. A measure of wholesale inflation in the U.S. fell in June. European and Asian markets closed lower. oil traded above $74 per barrel. Copper and gold lost a fraction.
- 123jump.com Staff
- 17 Jul, 2007
- New York City
Lyondell Chemical has agreed to $12.66 billion or $48 per share buyout from Netherlands based Basell. The total value of the deal including the debt will be $19 billion. The deal to acquire Lyondell with $22 billion sales, is the third deal, and largest in the commodity chemical segment this year. Earlier, GE managed to sell its plastics divison to Saudi Basic Industries for $11.6 billion cash and Huntsman was sold for $6.51 billion or $9.6 billion including debt to Apollo Management.
- 123jump.com Staff
- 17 Jul, 2007
- New York City
Johnson & Johnson reported earnings of $1.05 per share or $3.1 billion, 9.3% increase on 13% rise in sales. The recent acquistion of Pfizer consumer health division helped the company to keep the revenue growth but the pharmaceuticals and medical devices units struggled. The stock fell 2% after the earnings report.
- 123jump.com Staff
- 17 Jul, 2007
- New York City
After one hour of trading in New York, market averages are maintaing positive bias. Merrill Lynch earnings jumped 31% on 19% rise in sales on of higher fees from asset management and merchant banking and brokerage trading volume. Wells Fargo earnings jumped 9% on higher commercial loan volume. Coca Cola reported flat earnings. Charles Schwab earnings increased 16%. Asian markets closed lower but Shanghai jumped 2%.
- Ivaylo
- 17 Jul, 2007
- New York City
The UK market declined in the Tuesday morning session as broker downgrades pulled stocks lower and investors were wary about UK inflation data. BHP Billiton led miners lower after Deutsche Bank downgraded the stock and Rolls-Royce and Kelda Group also dipped on broker comment. Consumer price inflation fell to 2.4% in June from 2.5% in May. The benchmark FTSE 100 Index lost 0.6% in London in morning session.
- Ivaylo
- 17 Jul, 2007
- New York City
Taiwan led gainers in Asia as UBS raised its recommendation on the nation
- Ivaylo
- 17 Jul, 2007
- New York City
The benchmark index saw high volatility in the afternoon session after a firm morning trading. Metal, auto and banking and capital goods stocks declined, while cement, IT and real-estate stocks advanced. Reliance Industries and Ambuja Cements led the advancers, while Mahindra & Mahindra and Reliance Comms paced the declines. Ford Motor may sell a small car model in India.
- Ivaylo
- 17 Jul, 2007
- New York City
European markets declined modestly on Tuesday morning as a wave of earnings releases is eagerly awaited by investors, and as broker advice to sell four leading oil producers weighed on the sector. The subprime mortgage problem is also hurting banks. Deutsche Bank AG and Allianz led banks lower, while of dollar-sensitive stocks, Siemens slipped. All three major markets were lower with the U.K. FTSE 100 index off 0.4%, the German DAX index slipping 0.6% and the French CAC-40 index losing 0.3%.
- Ivaylo
- 17 Jul, 2007
- New York City
Gold declined slightly on Monday below a five-week high on technical sales, as the market was closely watching the descent of the dollar against the euro. Investors were wary ahead of Ben Bernanke
- 123jump.com Staff
- 16 Jul, 2007
- New York City
Mild gains in Dow stocks failed to lift other large caps and technology stocks on the first day of trading. Traders voiced optimism for the second quarter earnings as the season enters the busy period. Mattel reported 15% rise in earnings but Eaton earnings fell. Both stocks jumped 3%. European markets edged higher on takeover news. RBS raised cash portion of the ABN Amro offer to 93%. Asian stocks closed lower. Korean steelmaker Posco reported strong earnings. Brazil felll 0.5%.
- 123jump.com Staff
- 16 Jul, 2007
- New York City
European markets closed higher across the region, but a fraction. RBS raised its cash portion of the offer for ABN Amro for 11% higher offer than from Barclays. Spain led the region with a gain of 0.6%. Germany traded at a intra-day high. U.K. fell after largest platinum miner reported that the production will decline 14% this year. Lonmin declined 7%.