- Ivaylo
- 20 Feb, 2007
- New York City
Gold edged higher on Tuesday after surging to a seven-month high on talks that the dollar may weaken and as crude oil continues to trade above $55 a barrel. Oil in New York has traded between $56.62 and $60.80 this month as cold weather and higher-than-normal gasoline demand pushed fuel consumption to a 14-month high. Copper advanced after a magnitude 5.5 earthquake hit the largest mining province in Chile, the biggest producer of the metal in the world.
- Elena
- 19 Feb, 2007
- New York City
European stocks hit multi-year highs on Monday, boosted by strength in the mining sector, a continuous advance in DaimlerChrysler and deal-inspired gains from Swiss reinsurer Converium Holdings. DaimlerChrysler led autos higher with a rise of 3.6% on speculation about the future of its Chrysler unit. Among mining stocks, Rio Tinto added 1% and BHP Billiton climbed 1.7%. The French CAC-40 advanced 0.5%, the German DAX 30 rose 0.4%, and the U.K. FTSE 100 gained 0.4%.
- Ivaylo
- 19 Feb, 2001
- New York City
The FTSE 100 is trading in positive territory on Monday near a six-year high on reports of new bid interest in J Sainsbury and expectations for a $4 billion capital return from Anglo American. Anglo American leads the advancers ahead of its full year results due on Wednesday. Lloyds TSB gained on a possible sale of one of its assets. Utilities were leading the decliners. The benchmark index, the FTSE 100, was up 29 points at 6,448.4, its highest level since November 2000.
- Ivaylo
- 19 Feb, 2007
- New York City
Asian markets closed mostly higher Monday. Many markets were closed for Lunar New Year celebrations and investors also awaited a Japanese interest-rate decision later in the week. China, Taiwan, South Korea and HK were all closed for the celebrations. South Korea reopens on Tuesday, while HK, Singapore and Malaysia on Wednesday. In Japan, retailers and steelmakers gained on speculation about more mergers and acquisitions.
- Ivaylo
- 19 Feb, 2007
- New York City
Banking sector stocks led a broad based rally in the market trading. ICICI Bank led the gainers followed by UTI, SBI and other regional banks. Hero Honda and Gujarat Ambuja led the decliners. The government intends to relax limits on the compulsory reinsurance by general-insurance companies. Tata Group is preparing to launch the largest Indian international bond issue.
- Ivaylo
- 19 Feb, 2007
- New York City
European stocks were higher on Monday, with DaimlerChrysler leading the carmakers after news it was in talks with General Motors and other potential bidders over the sale of its US Chrysler division. Food retailers were also higher, led by Sainsbury of Britain after reports of further interest from potential bidders. In early trade, Frankfurt Xetra Dax added 0.3%, the CAC 40 in Paris gained 0.2% and London FTSE 100 climbed 0.3%.
- Ivaylo
- 19 Feb, 2007
- New York City
Higher oil prices supported gold and silver to finish with modest gains Friday after profit-taking early in the session weighed on prices. April gold reached $668.80, its low for the day, less than half an hour into the session. Traders blamed the early pullback on profit-taking ahead of a three-day U.S. Presidents Day weekend after gold was not able to extend Wednesday six-month high of $376.60. A rebound in crude oil helped gold and silver bounce back.
- 123jump.com Staff
- 16 Feb, 2007
- New York City
Market averages were on the defensive at opening on reports on housing starts and inflation. Housing starts fell 14.3% in January, ten-year low. Producer Price Index fell 0.6% in January but core inflation rose 0.2%. Microsoft fell 2% on sales warning. Campbell Soup rose 7% on better than expected profit. Daimler Chrylser rose 4% on potential merger talks with GM.
- Elena
- 16 Feb, 2007
- New York City
European stocks closed moderately down at the end of the week, pressured by a weak opening of U.S. markets and losses for Spanish banking giant BBVA. Shares in BBVA lost 2.4% in Madrid after it announced a deal to buy Compass Bancshares for $9.6 billion and said it would issue 196 million shares to fund the purchase. The U.K. FTSE 100 lost 0.2%, the German DAX 30 lost a fraction of a percentage point at 6,957.07 and the French CAC-40 lost 0.1%.
- Elena
- 16 Feb, 2007
- New York City
U.S. stock markets turned to consolidation of recent gains ahead of a three-day weekend. Stocks were pressured by a plunge in new housing starts and a sales warning from Microsoft Corp. Homebuilding stocks moved notably lower. Shares of Hovnanian Enterprises lost 1%, Champion Enterprises dropped 2%, as well as homebuilders KB Home declined 1.7%, and Toll Brothers slipped 1.1%.
- Elena
- 16 Feb, 2007
- New York City
The Department of Commerce reported that housing starts plunged unexpectedly 14.3% to an annual rate of 1.408 million units in January from a revised 1.643 million unit rate in December. According to another report released by a trade group for real estate agents, prices for single-family homes fell in more than half of the nation
- Ivaylo
- 16 Feb, 2007
- New York City
London stocks retreated from six year highs in mid-day trade on Friday as mining stocks declined and recent bid talks started to fade, although there were gains for Compass Group after a positive trading statement. SABMiller lost as hopes for consolidation among international brewers also died away. Kingfisher and Next led retailers higher. The FTSE 100 was 0.2% lower at 6,422.4, down 11 points.
- Elena
- 16 Feb, 2007
- New York City
U.S. stock futures turned lower on Friday, with Microsoft weighing on sentiment as it cautioned that analysts were too optimistic about the sales of Vista operating system. The stock fell 1.6% in the pre-open. Shares in AMR rose 4% on news that it is a buyout target of a group including Goldman Sachs and British Airways. Boeing and Lockheed Martin are reportedly considering buying U.K. defense companies. Compass Bancshare rose 6% after Spanish BBVA agreed buy the company for $9.6 B.
- Elena
- 16 Feb, 2007
- New York City
The acquisition is the latest in a string of deals, as well as the biggest BBVA has ever made, and will launch the Spanish bank into the top 20 U.S. operators. The second biggest bank in Spain said it will swap 2.8 of its own shares for each share in Compass Bancshares, or pay $71.82 a share in cash, representing a 16% premium to the average closing price over the last ten days.
- Ivaylo
- 16 Feb, 2007
- New York City
Asian stocks finished mixed on Friday, as Japanese stocks dipped for the first time in five sessions with Toyota Motor, Sony and other recent strong performers declining on profit-taking. Concerns that the U.S. dollar could be headed for further weakness against the yen also impacted the sentiment negatively. The weakness in Japan weighed on the markets around the region and Australia also declined. South Korea and HK bucked the trend and advanced.