- Ivaylo
- 02 May, 2007
- New York City
U.K. stocks advanced, led by British Sky Broadcasting after the earnings of the company topped analysts estimates. Lonmin tracked a rally in mining stocks after the platinum producer announced its loss for the first-half narrowed. Also, William Morrison Supermarkets surged after reports that the company may be the target of a private-equity takeover bid. The benchmark FTSE 100 Index rallied 37.2, or 0.6%, to 6456.8.
- Elena
- 02 May, 2007
- New York City
U.S. stock futures traded higher Wednesday, although a payroll data helped erase some of the earlier gains. The ADP national employment report said private employment gained 64,000 in April, the weakest job growth in four years. The media sector was in the spotlight as Time Warner reported earnings. The media giant said its Q1 profit slipped 18%, but beat expectations as revenue increased by 9%. Deal speculation in the sector also provided support.
- Ivaylo
- 02 May, 2007
- New York City
Asian markets closed higher Wednesday, with Japanese markets finishing higher on gains in the auto sector, while Australia was boosted by a record Dow Jones Industrial Average finish. Auto shares helped boost stocks in Japan, as Mazda reported strong earnings results, while HK gained on HSBC Holdings advance. Sydney was buoyed by gains from BHP Billiton and other natural resource shares.
- Elena
- 02 May, 2007
- New York City
The deal represents roughly 67% above the recent market value of Dow Jones, a massive premium at a time when most newspaper companies are losing readers and advertisers to the Internet. The offer from News Corp. is expected to face obstacles, as Dow Jones''''s controlling shareholders, the Bancroft family, said they would block it.
- Ivaylo
- 02 May, 2007
- New York City
European markets advanced on Wednesday on a number of strong earnings reports, while merger activity in the media sector also helped support the markets. The media stocks rallied after British Sky Broadcasting posted surprisingly strong customer take-up and on bid speculation in the sector following the move of News Corp for Dow Jones. By mid morning, Frankfurt Xetra Dax was 0.5% higher, the CAC 40 in Paris added 0.5%, and London FTSE 100 climbed 0.8%.
- Ivaylo
- 02 May, 2007
- New York City
On the Chicago Board of Trade corn futures ended higher Tuesday, boosted by speculative buying after Monday''s crop progress report revealed lower than expected corn plantings. Gold and silver finished lower. It may have been in part on slow global trading, with many countries observing holidays.Platinum and palladium ended higher.
- 123jump.com Staff
- 01 May, 2001
- New York City
Major averages climbed higher on several deal news in banking, publishing and steel indsurties. News Corp controlled by Rupert Murdoch offered $65 per share or $5 billion for Dow Jones. The company publication Wall Street journal said that the board has declined the offer. Microsoft is reported to be in a deal to buy for $1 billion 24/7 Real Media, an internet adveertising firm. A report on housing markets showed 4.9% declined in signed contracts for pending home sales.
- Elena
- 01 May, 2007
- New York City
U.S. stock market averages turned mixed, reflecting robust manufacturing data and weak housing report reignited concerns that the Fed Reserve may not cut interest rates in the near future. The ISM''s April manufacturing index came in at 54.7%, higher than the reading in March and above forecasts. In another report, the National Association of Realtors said pending sales of existing homes fell by 4.9% in March to their lowest point in four years.
- Elena
- 01 May, 2007
- New York City
MAF Bancorp surged 35% after National City Corp. said Tuesday it will buy the company for $56 per share, or $1.9 billion in an all-stock deal. The move is aimed to help National City to enter the Wisconsin market and expand its presence in Chicago. The price represents a 39% premium to MAF Bancorp''s Monday closing price of $40.15.
- Elena
- 01 May, 2007
- New York City
U.S. stocks opened in the positive, helped by deal news. Microsoft is reported interested in buying Internet advertising firm 24/7 Real Media which soared 30%. Manitowoc gained 4% in early trading as the provider of lifting equipment reported late Monday Q1 net earnings of $1.01 a share, up from 48 cents a share a year ago, beating expectations of earnings of 87 cents. Manitowoc also lifted its 2007 outlook. The company named Glen Tellock as a new CEO.
- Ivaylo
- 01 May, 2007
- New York City
The UK benchmark index sank on Tuesday on a quiet day for stocks trading in London. Pub owner Punch Taverns declined despite a 12% rise in first-half pre-tax profit. Shopping centre developer Liberty International led the advancers after posting a solid increase in first quarter profit. With most countries in Europe closed for the May day holiday, the FTSE 100 was down 30.5 points at 6,418.7 by late morning.
- Elena
- 01 May, 2007
- New York City
U.S. stock futures indicated a moderately higher opening on Tuesday ahead of a reading on the nation
- Ivaylo
- 01 May, 2007
- New York City
Japanese stocks declined in subdued trading Tuesday as traders tracked Wall Street where stocks sagged overnight. Traders took profits in recent advancers such as real-estate company Mitsui Fudosan and machinery maker Mitsubishi Heavy Industries, which reported earnings last week. Markets in China, Hong Kong, Singapore, South Korea, Taiwan and Thailand were closed for a public holiday.
- Elena
- 01 May, 2007
- New York City
The company posted quarterly profit of $2.51 billion, or 74 cents per share, compared with $2.21 billion, or 63 cents per share a year earlier. The company
- Ivaylo
- 01 May, 2007
- New York City
U.S. cocoa futures declined to seven-week lows Monday as beneficial rains falling over West African growing regions raised supply concerns among investors. The Ivory Coast and Ghana account for 70% of the world cocoa production. Gold advanced, silver remained unchnaged, while palladium dipped.