- Elena
- 27 Aug, 2007
- New York City
U.S. stock averages moved further to the downside amid concerns about the economic growth, sparked by signs of growing weakness in the housing sector. National Association of Realtors said that inventories of unsold single-family homes climbed 2.2% to 3.85 million in July, sending the inventory in relation to sales to the highest level in 16 years. Existing home sales fell 0.2% to an annual rate of 5.75 million units in July compared with 5.76 million units in June.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
Sensex surged on the first day of trading. The strength is global markets on the U.S. housing report fueled a rally in India. Local news played a key role in rally as well. Banks, cement, real estate developers, and auto stocks jumped. Communist Party maintained its opposition to a key provision in the nuclear deal with the U.S. but added that it will work with the ruling coalition partner. Take Solutions IPO increased 26%.
- 123jump.com Staff
- 27 Aug, 2007
- New York City
Nikkei 225 in Tokyo climbed higher after losing most of the gains in the afternoon trading. New home sales report in the U.S. boosted stocks at the opening but lost most of the gains by the close on very weak trading volume. Yen weakend against dollar. Fukushiro Nukaga replaced the Finance Minister Koji Omi. Stocks in Asia rise after the new home sales report in the U.S. in nervous trading.
- Elena
- 27 Aug, 2007
- New York City
Wall Street opened Monday session in the negative ahead of existing-home sales report, expected to show continuous slow-down in the housing market. Dow member Home Depot agreed to sell off its wholesale-supply unit for $8.5 billion, which is $1.8 billion less than previously planned, signaling a harsh financing climate. The stock rose 1.8%. Another blue-chip stock, Altria Group, climbed 2% amid speculations that it is considering spinning off the overseas division of its cigarette business.
- Elena
- 27 Aug, 2007
- New York City
U.S. stock futures were trading flat on Monday, reflecting positive mood generated by takeover activity and cautiousness ahead of housing data. Acquisition deals were announced in the steel and personal computer sectors. U.S. Steel agreed to buy Canada''s Stelco for about $1.1 billion, while Taiwan''s Acer said it will acquire Gateway for $710 million, creating the world''s No.3 PC maker. In economic news, existing-home sales are expected to have fallen to 5.70 million in July.
- Elena
- 27 Aug, 2007
- New York City
The deal, which is expected to complete this year, is worth C1.1 billion ($1.04 B), or C$38.50 a share. The transaction represents 43% premium over Stelco''s Friday close of C$26.93. The deal is expected to strengthen U.S. Steel
- 123jump.com Staff
- 24 Aug, 2007
- New York City
Rally in industrial and tech stocks lifted averages in New York. A sharp rise in durable goods orders of 5.9% and in new home sales by 2.8% in July month lifted the mood. Investors braved to add 1% in indexes in the late afternoon rally. European markets closed higher led by a rise in Lafarge, Arcelor Mittal, and Carrefour. For the week, Shanghai led global markets with a rise of 13% followed by 12% in Hong Kong, 9% in Brazil, 6% in Mexico, 3% in Paris, and 2.8% Nasdaq and 2.3% in S&P, Dow.
- 123jump.com Staff
- 24 Aug, 2007
- New York City
Stocks in the London trading edged fractionally higher after the GDP growth report from the Office for National Statistics. The Second quarter economic growth was reported at 0.8% on higher consumption and 1.5% increase in business and financial services. The GDP level is running 3% higher than at the end of the second quarter of last yar. But trade defic has been a drag on the economy. Household spending increased 2.6% from a year ago. Henderson profit jumped 31%.
- Elena
- 24 Aug, 2007
- New York City
European stock markets finished mostly higher Friday for a sixth session in a row, as stronger-than-expected U.S. economic data helped ease concerns about imminent recession, giving a boost to metals and oils producers. Steelmaker Arcelor Mittal and oil giant Royal Dutch Shell were leading advancers. Across the region, France climbed 0.8%, the U.K. gained 0.4%, while Germany closed down 0.1%.
- 123jump.com Staff
- 24 Aug, 2007
- New York City
Investors put asides political worries and focused on stocks in Mumbai trading. Sensex 30 gained 1.8% to close at 14,455. For the week the index increased 2%, less than most markets in Asia. Banks, real estate, cement, and auto companies led the rally. Larsen & Toubro plans to raise $700 million in an international offering. Financial Technolgies India Limited acquired a stake in National Stock Exchange from ICICI Bank at 125 crore rupees. Tata Motor lauches two models.
- Elena
- 24 Aug, 2007
- New York City
U.S. stocks were pushed higher Friday by easing concerns about credit markets and economic recession on the back of a larger-than-expected increase in new home sales in July and surging durable-goods orders. In corporate news, Ann Taylor rallied 6%, despite posting a 27% decline in Q2 profit. Gap rose 5.5% after posting 19% in Q2 profit on lower costs. Home Depot added 1.3% on reports that it may receive $1.2 billion less than anticipated for the sale of its wholesale distribution business.
- Elena
- 24 Aug, 2007
- New York City
Wall Street market sentiment received a boost from a larger-than-expected increase in new home sales in July which helped ease recent worries about credit markets. The Commerce Department said that sales of new home rose 2.8% in July to a seasonally adjusted annual rate of 870,000, stronger than the 820,000 annualized pace expected by economists.
- 123jump.com Staff
- 24 Aug, 2007
- New York City
Asian markets rose sharply for the week even after a mild loss on the last day of the week. Shanghi and Hong Kong led the region with gains of 12%. The Bank of China fell in Hong Kong trading but rose in Shanghai trading after reporting exposure of $10 billion in subprime loans. Insurance Australia, largest auto insurer, fell 7% after reporting 31% decline in profit. For the week Australia rose 7.4% and Japan gained 6.4%.
- Elena
- 24 Aug, 2007
- New York City
Wall Street opened near the flat line,reflecting a stronger-than-expected durable goods data and nervousness ahead of new home sales report. Tech stocks were weak in early trading, with Marvell Technology Group falling 11% after it offered a soft gross margin forecast. Other notable decliners were Research In Motion and Microsoft, losing 1.4% and 0.5%, respectively.
- Elena
- 24 Aug, 2007
- New York City
U.S. stock futures were indicating a positive opening Friday, as stronger-than-expected durable goods orders helped offset concerns about slowing housing market. The Commerce Department said that July orders for durable goods surged 5.9% on higher demand for airplanes, vehicles, computers, machinery, steel. Investors were also expecting a report on new home sales for July which is likely to show they continued falling at an annual rate of 820,000 homes.