- Ivaylo
- 27 Feb, 2007
- New York City
Asian markets finished mostly lower Tuesday, with China benchmark index plummeting almost 9%, its biggest decline in more than 10 years, as investors took to profits after recent gains. The declines, which came a day after the Shanghai ended at an all-time high, were triggered by worries that the government may implement new measures to cool speculative behavior. In Japan property shares led the decline and HK and South Korea also fell.
- Elena
- 27 Feb, 2007
- New York City
U.S stock market futures sharply dropped Tuesday, depressed by a 10% plunge in the Chinese equity market, followed by steep European and Asian losses. Weaker-than-expected durable goods data in the U.S built on the negative sentiment. Orders of new durable goods dropped 7.8% in January, while economists were expecting a decline of 5.5%, on average. Data on home sales, due out today, is expected to provide some indications on the economy.
- Elena
- 27 Feb, 2007
- New York City
Through the investment, Wal-Mart will expand its presence in China''s fast-growing retail market. Financial details of the deal were not revealed, but according to reports Wal-Mart agreed to pay $1 billion for the stake. The company said that it is planning to acquire ownership control in the future.
- Ivaylo
- 27 Feb, 2007
- New York City
The market opened with a positive bias but sentiment was embittered as the ruling Congress party lost in two state polls. That, coupled with the record plunge in the China market, pressed Indian stocks lower. Volatility was high and all sectors ended in negative territory. HDFC Bank, ACC and Maruti led the few gainers, while Bajaj Auto and Hero Honda led the decliners. The government said growth is sustainable despite rising inflation.
- Ivaylo
- 27 Feb, 2007
- New York City
European strocks declined tracking weaker global stock markets on Tuesday, fueled by comments about a possible US recession from former Federal Reserve chairman Alan Greenspan. Banks contributed the most weight to the losses, especially those connected to emerging markets. By mid morning, Frankfurt Xetra Dax shed 1.5%, the CAC 40 in Paris lost 1.6% and London FTSE 100 fell 1.5%.
- Ivaylo
- 27 Feb, 2007
- New York City
Gold and silver futures advanced Monday due to fund buying, supported by technical factors and a modestly stronger tone in crude oil. The funds continue to be prominent buyers on any declines in the market. They are being prompted by technical and momentum buying, along with the slightly weaker dollar as of late. In addition there is some slight strength in the energy markets. The metals market continues to monitor tensions between the U.N. and Iran as well.
- 123jump.com Staff
- 26 Feb, 2007
- New York City
Stocks traded lower in financial and industrial sector and on expectations of a big downward revision in gross-domestic product. Worries related to sub-prime loans default and possible slow down for the ratings services business affected McGraw Hill and Moodys. Financial stocks including banks and mortgage lenders declined. American Express and Citigroup lost grounds. TXU agreed to $45 billion buyout from KKR.
- 123jump.com Staff
- 26 Feb, 2007
- New York City
Stocks traded lower in financial and industrial shares and expectations of a big downward revision in gross-domestic product, as merger news, including a buyout deal for utility giant TXU failed to push the major indexes higher. Apax Partners agreed to purchase Chicago insurance brokerage Hub International for about $1.7 billion. Financial companies declined. American Express dropped 1.4%. Among Dow components, Home Depot was 1.2% lower; while AT&T was up 1.2%.
- Elena
- 26 Feb, 2007
- New York City
European stocks finished Monday trading session in the positive, boosted by gains for insurance, oils and metal stocks. Earnings-related gains from companies such as Associated British Foods and insurer Old Mutual also contributed to the upward move. The German DAX 30 rose 0.5%, helped by Allianz, up 3% and Munich Re, up 2.5%. The French CAC-40 climbed 0.8%, lifted by 3.9% from steel giant Arcelor-Mittal. The U.K.''s FTSE 100 rose 0.5%, helped by mining shares.
- Elena
- 26 Feb, 2007
- New York City
U.S. stock market averages turned mixed in late morning trading, as oil prices jumped above $62 offsetting merger activity, including the $45 billion acquisition of UTX, the biggest private-equity deal ever. The Dow remained in the positive, helped by 3.8% gain for drug maker Merck and 1.3% for Coca-Cola on the back of brokerage upgrades. The tech sector was weighed down by Arris Group, falling 11% after Ericsson bid $1.4 billion for Tandberg Television, topping Arris'' offer.
- 123jump.com Staff
- 26 Feb, 2007
- New York City
Indian Railways Minister Lalu Prasad released his fourth railways budget. The current budget estimates to invest 31,000 crore rupees and expects the operating ratio to rise to 78%. The budget also lowere passenger tariffs between 2% and 8% and certain freight tariffs between 4% and 5%. Iron ore and steel products tariffs are expected to rise. Minister Prasad expects Railways to add 8,000 railways security staff.
- Elena
- 26 Feb, 2007
- New York City
U.S. stocks opened notably higher Monday on well-received deal news, including the $45 billion takeover of TXU Corp. The shares of the utility jumped 13% after agreeing to be bought by a consortium led by Kohlberg Kravis & Roberts and Texas Pacific Group. In other news, Station Casinos gained 4.2%, after Company Management and Colony Capital agreed to buy the casino-operator for $8.8 billion.
- Ivaylo
- 26 Feb, 2007
- New York City
The FTSE 100 moved higher on Monday, supported by oil stocks and an upbeat trading statement from Associated British Foods. Housebuilder Persimmon topped market forecasts. Oil stocks were firm as the price of oil advanced. After a strong session in Asia, miners were also stronger with Kazakhmys leading the gainers. By late morning, the FTSE 100 gained 43.7 points at 6,446.4.
- Elena
- 26 Feb, 2007
- New York City
U.S. stock market futures moved higher on Monday, boosted by a multi-billion takeover of utility giant TXU which raised consolidation hopes. Shares of TXU jumped 13% in the pre-open after agreeing to be bought by a private-equity group for $45 billion, including $13 billion in debt. In another deal, Company management and Colony Capital agreed to buy Station Casinosfor $8.8 billion, including $3.4 billion in debt.
- Ivaylo
- 26 Feb, 2007
- New York City
Asian stock markets finished mixed Monday, with Japan advancing on gains in Sony and Softbank, but other regional markets declined. HK plunged, while Australia rose on Rio Tinto which led gainers. South Korea advanced, but Singapore fell. After a long break, Taiwan and China resumed trading and ended in positive territory. Taiwan was boosted by gains in the real estate sector.