- Ivaylo
- 19 Oct, 2006
- New York City
The FTSE 100 succumbed to weakness in the banking sector and oil stocks despite strength in pharmaceutical shares. Banks led decliners as takeover talk subsided and credit quality fears emerged. News from Prudential showed that the credit quality trends have worsened a little, so it might affect sentiment on UK banks. Pharmaceuticals were the main advancers after Swiss companies Serono and Novartis reported stronger-than-expected earnings results. By mid morning, the FTSE 100 lost 0.2%.
- Elena
- 19 Oct, 2006
- New York City
Stock futures settled near the flat line, reflecting mixed results in the tech sector, offset by better-than-expected results from Bank of America, Citigroup and Coca-Cola. Citigroup said its Q3t fell 23%, Bank of America topped forecasts with a 41% profit rise, and Coca-Cola also exceeded views with a 14% profit rise. Pfizer said its Q3 profit soared 112%. Revenue rose 9%to $12.2 billion, beating estimates.
- Elena
- 19 Oct, 2006
- New York City
Apple posted earnings of $546 million, or 62 cents per share, up from $430 million, 50 cents per share last year, easily beating expectations of 51 cents a share on sales of $4.66 billion. Revenue for the quarter jumped 32% to $4.84 billion. Apple said that for the quarter it shipped 8.7 million iPods, 35% more from the year-ago period and 1.6 million computers, up 30% from a year earlier.
- Ivaylo
- 19 Oct, 2006
- New York City
Asian stocks traded mixed Thursday, with the Nikkei in Japan declining on poorresults from chip-equipment makers such as Advantest Corp, while shares of Nissan Motor Co. lost ground after the automaker announced a global recall affecting 130,000 vehicles. Hong Kong also fell, as well as Taiwan, South Korea ended flat, while Singapore bucked the trend and advanced.
- Ivaylo
- 19 Oct, 2006
- New York City
Traders are also expecting US data and a possible agreement on production cuts by OPEC members. SAP and Ericsson were in focus, while Atos Origin was the subject of speculations that Blackstone, a US private equity firm was considering a takeover of the French information technology company. The U.K. FTSE 100 index sank 0.5%, the French CAC-40 index was 0.5% lower, and the German DAX Xetra 30 index declined 0.4%.
- Ivaylo
- 19 Oct, 2006
- New York City
Trading also remained range-bound as gold and silver futures faced some resistance at around $600 an ounce and $12 an ounce, respectively. Gold has struggled to get through the $600 area, where it stalled Tuesday. There has been some talk of physical demand from Southeast Asia, but not much has come from dealers or banks. The metals were range-bound as traders await an OPEC meeting Thursday, which could decide whether oil producers will officially reduce their target output.
- 123jump.com Staff
- 19 Oct, 2006
- New York City
Mixed economic reports helped market averages to climb higher. CPI fell 0.5% but core CPI rose o.2% in September. Housing starts rose 5.9% but building permits fell 6.3% in the Sept month. JP Morgan reported Q3 earnings of 92 cents beating the estimates of 86 cents. Motorola reported earnings of 32 cents, peny lower than expected and stock fell 5%. Yahoo failed to excite investors and dropped 5% on earnings. Oil dropped below $58 per barrel.
- Elena
- 18 Oct, 2006
- New York City
European stock markets rebounded Wednesday on the back of broad-based gains after The Dow Jones Industrial Average broke through the historical level 12,000. The tech sector advanced, with IT services company Cap Gemini, up 2% and SAP, up 0.6%. Mining companies also posted strength. The German DAX 30 climbed 1.1%, the French CAC 40 rose 1.1%, and London FTSE 100 added 0.7%.
- Elena
- 18 Oct, 2006
- New York City
U.S. stocks turned mixed after an early rally, sparked by upbeat data and solid earnings reports from Intel Corp. and IBM. The two blue chips lifted the Dow above the historical 12,000 mark for the first time. Intel gained 1.3%, IBM traded 4% higher, but semiconductors fell sharply as gains were offset by a disappointing orders and sales outlook from chip-equipment maker ASML. Novellus Systems also declined.
- Elena
- 18 Oct, 2006
- New York City
The market activity is now heavily dependent on second-quarter results.Today, Bajaj Auto showed disappointing results, weighing on the benchmark index in early trading. Although the Sensex managed to reverse the trend in later trading it still finished lower. Ranbaxy, ICICI Bank and Dr Reddy led the advancers but most large-caps finished down with Bajaj Auto and HDFC Bank leading the decline. The Indian Prime Mnister said India was aiming at achieving 10% annual GDP growth by 2011/12.
- Elena
- 18 Oct, 2006
- New York City
The Dow Jones Industrial Average hit the 12,000 mark for the first time in its history, boosted by upbeat economic data and earnings-inspired gains for Intel and IBM. Intel rose 2.6% after chipmaker''s Q3 earnings report showed signs of recovery from serious problems. Shares of IBM jumped more than 5% on better-than-expected Q3 profit.
- Ivaylo
- 18 Oct, 2001
- New York City
Rising US futures following well received inflation figures gave London a boost at an intraday high ahead of the opening bell in U.S. Financial stocks and miners stood out. Man Group is in focus on reports that it has appointed investment bankers to advise on a demerger of Man Financial, its brokerage arm. Hanson is another strong performer as bid rumours emerge. The FTSE 100 advanced 35.5 points, or 0.6%, at 6,144.3, in mid-afternoon trading.
- Elena
- 18 Oct, 2006
- New York City
U.S. stock futures moved higher on Wednesday, lifted by upbeat quarterly earnings, released by Intel Corp. and Yahoo Inc. Intel shares added 1.2% in pre-opening hours after the chipmaker''''s Q3 earnings report showed signs it had overcome the worst of its problems. Intel reported a 35% profit drop, compared to Q2 results, profit rose 47%. Yahoo reported 37% profit drop to 11 cents a share, down from or 17 cents a year ago, meeting expectations. Company''''s shares rose 3.5% in pre-open.
- Ivaylo
- 18 Oct, 2006
- New York City
Bargain hunting, particularly of financial stocks, drove the Nikkei down early Wednesday in the wake of an overnight decline on U.S. market. But the market reversed the trend in afternoon trading and ended in positive territory. In South Korea, advances in South Korean banking stocks supported the local stock market to close higher. Hong Kong also rose while Taiwan ended lower.
- Ivaylo
- 18 Oct, 2006
- New York City
European stocks advanced in early trading on Wednesday, with the technology sector supported by well-received overnight earnings from U.S. giants Intel and IBM, which, coupled with mining sector gains, helped investors ignore earnings-related news from Akzo Nobel and ASML Holding. The U.K. FTSE 100 index gained 0.6%, Frankfurt Xetra Dax was up 0.5% and CAC 40 in France was up 0.5%.