- Elena
- 15 Mar, 2007
- New York City
U.S. market averages traded slightly in the positive, as enthusiasm over merger activity offset the surprisingly high wholesale inflation. WebEx Communications surged 24% after Cisco Systems agreed to acquire the online meeting company in a deal worth $3.2 billion in cash, or $57 per share. That represents a 23% premium over WebEx''s closing price on Wednesday. IntercontinentalExchange made an unsolicited offer to merge with the parent of the Chicago Board of Trade in a deal worth $10 B.
- Ivaylo
- 15 Mar, 2007
- New York City
London has continued Thursday to recover the massive losses incurred yesterday, with buyers returning on new M&A action and well received results, while miners helped the surge. Imperial Tobacco was the stand-out advancer as it confirmed it had made an approach for Altadis, the Spanish cigarette manufacturer. The strong finish markets in Asia and a rally on Wall Street overnight lifted sentiment and helped the FTSE 100 gain 100 points at 6,101.4.
- Elena
- 15 Mar, 2007
- New York City
U.S. stocks opened mixed, reflecting higher-than-expected inflation at the wholesale level and initial jobless claims drop. Investors'' hopes of interest rate cuts dampened, as wholesale prices unexpectedly jumped 1.3% in February amid a big increase in energy prices and food costs. Even excluding food and energy prices, the core PPI rose 0.4%, double the 0.2% rise that analysts were predicting.
- Ivaylo
- 15 Mar, 2007
- New York City
After the sharp declines in the previous session, traders in Asia were active again on Thursday, helping regional markets to rally with Japan leading the advance. Tokyo gained a day after suffering its second-biggest single-day point fall so far this year. Exporters drew the greatest interest on the market as the Japanese yen softened against the dollar. All the major regional markets ended in positive territory.
- Elena
- 15 Mar, 2007
- New York City
U.S. stock futures traded moderately higher Thursday, taking a lift from solid gains in intraday trading yesterday that gave signals the market is on the rebound. As investors
- Ivaylo
- 15 Mar, 2001
- New York City
The Sensex opened with a positive bias and surged until early afternoon following strong global markets in a highly volatile trade. Heavy selling at higher level made the index pare gains but it still managed to finish in positive territory. Dr Reddy
- 123jump.com Staff
- 14 Mar, 2008
- New York City
Stocks in New York trading recovered at close after hitting their lows at mid-day. Smaller than expected current account deficit data failed to counter the worries related to sub-prime lending. Lehman Bros reported first quarter earnings of $1.96 per share compared to $1.83 per share. The company said that its exposure to subprime ledning is well contained. General Motors reported prift in the fourth quarter on GMAC sale. Asian and European markets dropped more than 2%.
- 123jump.com Staff
- 14 Mar, 2007
- New York City
Market averages dipped to its lowest level in the afternoon trading. Lehman reported first quarter profit of $1.96 per share compared to $1.83 per share a year ago. Revenue rose 13% to $5.05 billion from a year earlier.The company also reported that its exposure to sub prime lending is not more than 3% of its assets and it accounts for 25% of total mortgage origination.
- Elena
- 14 Mar, 2007
- New York City
European stocks finished sharply lower on Wednesday, led by declines for banking stocks as U.S. worries about subprime-mortgage losses spread through the sector. Among firms in focus, Deutsche Bank dropped 5.1%, Credit Suisse lost 4.3% and UBS shed 4.3%. Insurers and fund managers were also notable losers. France''s AXA slid 5.1%, while U.K. Man Group dropped 4%. The French CAC 40 tumbled 2.5%, the German DAX 30 dropped 2.7%, and the U.K.''s FTSE 100 slid 2.6%.
- Ivaylo
- 14 Mar, 2007
- New York City
The London market followed US stocks sharply lower on Wednesday as growing concerns about the health of the US subprime lending sector harmed the financials sector and resurrected fears of a slump. Several of the big high street banks had already posted higher provisions for bad debts including HSBC. The FTSE 100 was down more than 100 points, or 1.4%, to 6,060.2 in morning trade.
- Ivaylo
- 14 Mar, 2007
- New York City
Asian markets declined sharply Wednesday following a sharp sell-off on US market, with Japanese benchmark index plummeting almost 3% with exporters retreating as the yen strengthened against major currencies. Property stocks declined the most among large-cap companies in HK. In China, comments from China''s central bank governor led to speculation there will be an interest rate increase soon and the Shnaghai benchmark index also fell.
- Elena
- 14 Mar, 2007
- New York City
Wall Street opened mixed on Wednesday, gaining some ground after the recent sell-off. The market sentiment was boosted by strengthening dollar which rose vs. the yen on the back of narrower current account deficit. However, there was more evidence about the fallout in the mortgage lender market. H&R Block slid 2.4% after it warned that the meltdown increased its quarterly losses.
- Elena
- 14 Mar, 2007
- New York City
U.S. stock futures were indicating a slightly weak opening, as concerns over the troubled sub-prime mortgage business continued to weigh on global markets. Disappointing results from General Motors and Lehman Bros. also generated negative mood, helping to offset a smaller-than-expected rise in import prices. Import prices rose 0.2% in February, below expectations of a 0.7% gain. Excluding fuels, prices declined 0.2%, the biggest drop since July 2005.
- Ivaylo
- 14 Mar, 2007
- New York City
The benchmark index opened with a strong negative bias on the overnight sell-off on Wall Street and weak Asian markets. The Sensex stocks declined sharply with IT, telecom and banking stocks leading. ICICI Bank was the most prominent decliner, Bharti Airtel and Wipro were severely hit. Cement stocks pared losses, though. Gujarat Ambuja gained, together with Bajaj Auto. The production of six core industries moved up 8.7% in January 2007 when compared with 8.2% in January 2006.
- Ivaylo
- 14 Mar, 2007
- New York City
European markets plunged in morning trading Wednesday, with banking stocks such as Credit Suisse and Deutsche Bank suffering heavily, after concernss about the spread of subprime mortgage losses made US stock tumble in late trading overnight. European banks with a U.S. lending business also fell. The French CAC 40 index lost 1.7% at 5,343.22, the German DAX 30 index gave up 1.6% at 6,520.32 and the U.K. FTSE 100 index fell 1.3% at 6,081.20.