- 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%.
- Ivaylo
- 09 May, 2007
- New York City
Gold and silver declined Tuesday on a higher U.S. dollar and as investors turned their attention to the Federal Reserve policy meeting on Wednesday. Precious metals were under pressure as the euro slipped against the dollar ahead of several central bank meetings this week. The Fed meets Wednesday, while the European Central Bank and the Bank of England meet on Thursday. Platinum and palladium also settled lower, while copper rose.
- 123jump.com Staff
- 08 May, 2007
- New York City
U.S. stocks were lower hurt by some disappointing earnings news and economic data. Stocks also dropped on speculation Federal Reserve policy makers tomorrow will say its interest-rate decision. Tyco second-quarter earnings dropped 13% on costs to split into three independent companies. AK Steel Holding rose more than 10% on takeover news. Cisco net income gained 34% and revenue rose 21% to $8.87 billion.
- 123jump.com Staff
- 08 May, 2007
- New York City
U.S. stocks slipped as investors turned cautious the day before a Federal Reserve interest-rate decision helped by some disappointing earnings. Merrill Lynch shares fell 1.5%, JPMorgan Chase''s shares shed 0.5% and shares of Goldman Sachs dropped 1.1%. Shares of Marsh & McLennan dropped 1.4%, while Lazard''s stock lost 2.4%. HP shares rose 2.4%. and Motorola fell 2.3%. Microstrategy dropped 11% on lower earnings.
- Elena
- 08 May, 2007
- New York City
European stock markets lost ground on Tuesday, dragged down by cyclical stocks ahead of central bank decisions around the globe. Losses on Wall Street before Fed Reserve
- Elena
- 08 May, 2007
- New York City
U.S. stocks continued to post losses as investors turned to consolidation of recent gains, awaiting the Fed Reserve''s decision on interest rates. Economic data released today added further pressure to stocks, as the Commerce Department said wholesalers'' inventories grew at a slower rate in March, coming in below expectations.
- Elena
- 08 May, 2007
- New York City
Among earnings-related movers, Warner Music Group inched up after posting a wider Q2 loss, hurt by restructuring costs and a decline in revenue. Warner Music lost 19 cents per share, compared with a loss of 5 cents a year ago, missing expectations of 9 cents loss. Pharmacy services provider CVS/Caremark announced Q1 earnings increase of 24% on strong revenue growth. Net income grew to 43 cents per share from 39 cents per share a year ago, missing expectations of 45 cents a share.
- Elena
- 08 May, 2007
- New York City
Wall Street opened in the negative on profit-taking ahead of the Fed Reserve''s meeting on interest rates. However, Dow member Hewlett-Packard helped limit losses, rising 2% after the computer maker raised its Q2 earnings and revenue outlook. In deal news, AK Steel climbed 15% amid reports that Arcelor Mittal is in talks to buy the U.S. steel producer in a $4.5 billion, or $40 a share, deal.
- Ivaylo
- 08 May, 2007
- New York City
The market in U.K. retreated from a six-year high on Tuesday despite strong gains for Reuters. The news and information group added to the sharp rise on Friday after it gave details of a deal with Thomson Financial of Canada. Also, a mixed mining sector weighed on the market. Having closed at its highest level since September 2000 on Friday, the FTSE 100 shed 36.3 points to 6,567.4 in late morning trade.
- Elena
- 08 May, 2007
- New York City
U.S. stock futures indicated a lower opening Tuesday, hurt by cautiousness ahead of the Fed Reserve''s interest rate policy decision on Wednesday. On the economic news front today, March wholesale inventories figures are due out after the open. Among pre-market highlights, Motorola lost 2.1% after it said its shareholders re-elected the company''s board but didn''t elect Icahn who failed to receive support from major investment funds.
- Ivaylo
- 08 May, 2007
- New York City
Most Asian markets ended lower Tuesday, with Japan declining slightly while China reached a record high on gains in retailers and property developers. Although Australia set an intraday record earlier in the session, the market in Sydney retreated and ended with a loss. The markets in South Korea and Taiwan also declined. A day after ending at a record high HK dipped today.
- Elena
- 08 May, 2007
- New York City
The companies released details of the proposed deal which values Reuters at $17.7 billion. According to the agreement, Thomson would offer 0.16 of its own shares and 352.5 pence in cash for each share in Reuters, which at Monday''s prices would value the company at 697 pence a share, or 8.76 billion pounds. Reuters'' stock lost 0.7% in pre-market trading.