- Ivaylo
- 22 Mar, 2007
- New York City
The Sensex rallied over 300 points supported by sustained buying across the board. Robust markets in Asia and strong close on US market helped the Indian benchmark index. The decision of the Fed to keep rates intact also boosted sentiment, as rate cuts are believed to shift investment to emerging markets. Today, BHEL led the advancers in a broad-based rally, while the only decliner in the Sensex stocks was Grasim. The rupee retreated from 19-month highs on Thursday.
- Elena
- 22 Mar, 2007
- New York City
U.S. stock futures predicted a flat market opening, following a strong rally on Wednesday, inspired by the Fed Reserve
- Ivaylo
- 22 Mar, 2007
- New York City
European equities rose, tracking US markets after the Federal Reserve shifted from its rate-tightening bias. Shares in ING rose after the leading Dutch bank said it was looking at its strategic options including acquisitions beyond the Benelux region. Elsewhere, takeover speculation continued to drive shares. By midday, Frankfurt Xetra Dax rose 1.7%, the CAC 40 added 1.4% and London FTSE 100 climbed 0.8%.
- Ivaylo
- 22 Mar, 2007
- New York City
U.S. cocoa futures surged Wednesday for a second day in a row on speculative buying that took prices to another contract high. Dry weather this year in Ivory Coast, the West African country that is the leading producer of cocoa beans in the world, is causing market participants to reduce their production estimates. Precious metals declined with gold bucking the trend.
- 123jump.com Staff
- 21 Mar, 2007
- New York City
With the decision to leave the target fed funds rates unchanged at 5.25%, market wasted little time in taking averages to a record level for the day. Financial stocks rallied but oil closed higher at close. Morgan Stanley rose on 69% rise in earnings, however, FedEx dropped on 2% lower earnings. U.S. Auto Parts, recently listed IPO, lost 40% of its value on the first earnings report as a public company. Cintas fell on lower than expected earnings and weak 2007 outlook. Nasdaq gained 47.
- 123jump.com Staff
- 21 Mar, 2007
- New York City
Stocks in the U.S. jumped as traders welcomed the latest Federal Reserve statement on the economy. Software companies showed gains. Oracle advanced 2.2%. Adobe Systems rose 5.5%. FedEx quarterly revenue climbed more than 7% year over year. Recently listed IPO, U.S. Auto Parts fell 45% on loss compared to a profit a year ago. Cintas dropped nearly 10% on disappointing third quarter and lower 2007 outlook. Market averages continue to rise after the Fed Decision to not change the target rate.
- 123jump.com Staff
- 21 Mar, 2001
- New York City
The Federal Open Market Committee left the target fed fund rates unchanged at 5.25% for the sixth meeting in a row. The Fed raised the target rate last time in June 2006 meeting. Financial, Industrials and large cap stocks rallied on the news. Recent troubles in the mortgage lending business and persistent core infaltion may force the Fed to keep rates higher for several more months to come. The Fed noticed that the economic indicators are softening and housing market is still adjusting.
- Elena
- 21 Mar, 2007
- New York City
European stocks ended moderately higher on Wednesday, lifted by strength in the real estate sector. Declines from retailers Metro and Inditex put a floor on gains. Shares in Hammerson, Anglo-French property developer, rose 4.8% on speculations that the company may be in line for a bid either from Unibail of France or a private equity consortium. The U.K. FTSE 100 rose 0.6%, the German DAX 30 added 0.2%, the French CAC 40 finished flat.
- Elena
- 21 Mar, 2007
- New York City
U.S. stocks lost direction in early Wednesday trading, with many traders staying on the sidelines ahead of the Federal Reserve''s announcement on interest rates. Software and computer hardware stocks moved notably higher. Adobe Systems climbed 3.7% after it reported a 37% profit rise. Oracle rose 3.7% after reporting a better-than-forecast 35% jump in quarterly profit.
- Ivaylo
- 21 Mar, 2007
- New York City
Equity stocks traded higher in London on Wednesday as investors responded favourably to the minutes of the Bank of England meeting and what is thought to be the last budget of Gordon Brown as chancellor. Earlier, the Bank of England monetary policy committee voted in favour of keeping interest rates on hold. By late lunchtime, the benchmark index was 43.2 points higher at 6,263.5.
- Elena
- 21 Mar, 2007
- New York City
Wall Street opened slightly higher Wednesday, reflecting positive sentiment generated by strong earnings reports from Morgan Stanley and Oracle, as well as cautiousness ahead of the Fed Reserve''s interest-rate decision. Wall Street largely expects the Fed will leave short-term interest rates unchanged at 5.25%. Morgan Stanley gained 2.3% after the bank posted a 70% rise in profit in Q1, well above estimates. Oracle rose 3.7% after reporting a better-than-forecast 35% jump in quarterly profit.
- Ivaylo
- 21 Mar, 2007
- New York City
Asian markets ended mostly higher Wednesday, continuing their advance, with property shares giving Hong Kong a lift. Japanese markets were closed for a holiday. Markets in Taiwan and Singapore also posted gains, while in Australia the market ended slightly lower. South Korean shares ended virtually flat.
- Ivaylo
- 21 Mar, 2007
- New York City
The benchmark index traded range-bound on Wednesday for the major part of the session. Agressive buying, mainly in ICICI Bank, Hindustan Lever, SBI in late noon deals helped the rally. Short-covering in the derivatives segment also supported the market. Banking stocks surged after the government said the current cash shortage will ease shortly. Gujarat Ambuja led the decliners, alongside with HDFC and Ranbaxy. TRAI said on Wednesday it had cut the fee paid by all telecoms users.
- Ivaylo
- 21 Mar, 2007
- New York City
M&A activity spurred European markets higher in early trade as financial stocks extended their advance. Barclays and ABN Amro were at the forefront of the advance after agreeing to some initial terms for a merger that may be the biggest financial-services takeover in history. However, the mood was cautious ahead the interest rate decision of the US Federal Reserve later on Wednesday. Frankfurt Xetra Dax was fractionally lower, the CAC 40 in Paris gained 0.1%, and London FTSE 100 climbed 0.2%.
- Ivaylo
- 21 Mar, 2007
- New York City
U.S. cocoa futures rallied to nearly four-year highs Tuesday on the New York Board of Trade on speculative buying and boosted by a significantly lower U.S. dollar against the British pound. On the New York Mercantile Exchange gold and silver futures hit two-and-a-half-week highs. Both contracts hit their highest levels since March 2. Crude oil prices ended higher in light trading ahead of the weekly inventory report.