- Ivaylo
- 27 Oct, 2001
- New York City
Losses in pharmaceuticals and advertising company WPP offset gains in tech stocks on Friday. Tech stocks were boosted by a strong performance the US market, as after the US close, Microsoft reported strong third quarter numbers. AstraZeneca, a pharmaceutical company, retreated as Credit Suisse lowered its recommendation and brought the market lower. By mid morning, the FTSE 100 eased slightly, Frankfurt Xetra Dax was also marginally better, while the CAC 40 in Paris fell 0.1%.
- Ivaylo
- 27 Oct, 2001
- New York City
The weaker dollar was blamed on the fallout from the late-Wednesday statement from the FOMC, which was seen as dovish on interest rates, combined with expectations for more monetary tightening from the European Central Bank. Gold and silver got off to a pretty decent start this morning on follow-through from the afternoon gains yesterday after the Fed basically sat on their hands.
- 123jump.com Staff
- 26 Oct, 2006
- New York City
New homes sales rose for the second month in a row but median home sales price fell to $217,000. ExxonMobil profit rose 5.7% to $10.9 billion and Shell profit fell 34% on problems in Nigeria. Microsoft profit jumped 11% on strong sales in XBox. Microsoft earned in the quarter 35 cents vs. 29 cents compared to a year ago. Navteq rose 16% and Chicos gained 7%.
- Elena
- 26 Oct, 2006
- New York City
European stock markets closed mixed on Thursday, reflecting disappointing news from major drug companies, losses in the metals sector, and positive earnings news from other companies like Royal Dutch Shell and telecoms provider France Telecom. London FTSE 100 finished down 0.48%, dragged by AstraZeneca and GlaxoSmithCline. The German DAX 30 gained 0.31%. The French CAC 40 rose 0.21%.
- Elena
- 26 Oct, 2006
- New York City
U.S. stocks turned lower as investors turned to profit taking, but Exxon Mobil Corp. helped limit the downward trend on a strong earnings report. The latest report on the housing sector offered a mixed picture. The government reported that new homes sales unexpectedly rose 5.3% in September, the most in three months, while median sales prices dropped to a 36-year low of 9.7%.
- Elena
- 26 Oct, 2006
- New York City
Banks rallied today, supported by strong second-quarter results. The surge in the sector was also buoyed by the decision of the Fed to leave interest rates intact. Rates hikes draw capital to the U.S. economy, thus leaving emerging markets out of investment flows. Another factor contributing to the rise was short covering in derivatives due to expiry of October 2006. ICICI Bank and SBI led the advancers today, while the main decliners were ranbaxy and Hindustan Lever.
- Elena
- 26 Oct, 2006
- New York City
U.S. stocks extended gains Thursday, helped by strong results from Exxon Mobil and upbeat economic data. Exxon Mobil rose 1.5% after the oil giant posted better-than-expected quarterly results, buoyed by higher crude-oil and natural-gas realizations and improved marketing. The Commerce Department reported capital spending continued to rise as durable goods orders jumped to a six-year high of 7.8%.
- Ivaylo
- 26 Oct, 2006
- New York City
GlaxoSmithKline and AstraZeneca suffered setbacks with their most-advanced experimental treatments. Their shares had their steepest declines in almost two years. Banks also traded in the red. Northern Rock, Royal Bank of Scotland and Lloyds TSB in trouble, while miners gave back early gains. Anglo American, Lonmin and Rio Tinto are lower, although, Vedanta Resources is still in the blue. The FTSE 100 in London is almost flat in the afternoon, at 6,217, or 0.03% higher.
- Elena
- 26 Oct, 2006
- New York City
U.S. stock futures indicated a higher opening on the back of stronger-than-expected earnings and steady interest rates. A bigger-than-expected jump in durable goods orders and higher weekly jobless claims had little effect on futures. Exxon Mobil reported Q3 earnings rise of $10.49 billion, or $1.77 per share, up from a year-ago profit of $9.92 billion, or $1.58 per share, exceeding expectations of $1.59.
- Elena
- 26 Oct, 2006
- New York City
Hewlett-Packard agreed to acquire the software maker in late July for $4.5 billion, or $52 a share, with the offer being extended until October 27. H-P is extending the offer again, this time until November 1. H-P said that approximately 38.9 million Mercury Interactive shares had been tendered as of October 24, short of the 50.1% majority it needs to complete the deal.
- Ivaylo
- 26 Oct, 2006
- New York City
Hong Kong led the advance in Asian markets on Thursday, with the benchmark index hitting a record closing high on gains in China Mobile and offshore oil and gas producer CNOOC on higher crude-oil prices. In Japan, the rally was led by commodity stocks helped by higher oil prices and gains in auto makers. Telecommunication and technology companies boosted South Korean shares. Australia, Taiwan and Shanghai also recorded gains.
- Ivaylo
- 26 Oct, 2006
- New York City
European shares rose to new five-year highs on Thursday morning, after the U.S. Federal Reserve allayed U.S. economic growth fears, keeping rates on hold and after some strong third-quarter financial results from Continental and U.K. companies including oil company Royal Dutch Shell and telecommunications provider France Telecom. In early trade, the FTSE 100 in London climbed 0.4%, Frankfurt Xetra Dax added 0.4%, and the CAC 40 in Paris gained 0.5%.
- Ivaylo
- 26 Oct, 2001
- New York City
Gold and silver retreated in early trading. But once strong oil inventory numbers came out, they really put a floor under the gold price and sparked this rally. Gold rally is encouraging but the metal for now still remains very closely connected to oil, and as such is still vulnerable to liquidation. Historically, there has been a link between gold and oil since higher oil prices tend to offer a hint of inflation, and market participants buy gold as an inflation hedge.
- 123jump.com Staff
- 25 Oct, 2001
- New York City
Market averages rallied after the news that Fed has left the interest rates unchanged for the third time in last four months.Oil and gas rose on lower inventory report and cooler weather in Northern U.S. GM reported revenue rise of 4% and a smaller loss of $115 million. Anheuser Busch reported Q3 earnings of 82 cents vs. 65 cents a year ago. P F Changs reported earnings of 25 cents vs 31 cents a year ago on revenue gain of 14%.
- 123jump.com Staff
- 25 Oct, 2006
- New York City
Fed kept target rates unchanged for the third month in a row. Target rate remained at 5.25% since late June. Fed noted that economic growth rate is likely to slow on cooling housing market. Oil rose above $61 on lower inventories. GM posted smaller loss on 4% rise in sales, stock drops. PF Changs reported lower profit on higher food cost, stock jumps. Corning dropped closed to 10%. KLA Tencor gained more than 9% on better revenue.