- Ivaylo
- 18 Oct, 2006
- New York City
Every time gold reaches the $600 mark, producer selling pressure from Australia and South America moves in. There is a conflict at that level, but at the same time investment and physical demand surface. Gold had risen earlier in the sesson, on growing tensions between North Korea and the U.N., which bolstered dealer and fund appetite for gold and the rest of the metal complex.
- Elena
- 17 Oct, 2006
- New York City
European stock markets retreated from recent gains to close lower Tuesday as higher oil prices dragged auto and transport stocks down, while luxury-goods retailer LVMH and drug maker Roche Holdings declined after posting sales. Inflation fears on Wall Street also hurt market sentiment. The German DAX 30 finished down 1.2%, the French GAC 40 ended lower by 1.1%, and London FTSE 100 ended down 1%.
- Elena
- 17 Oct, 2006
- New York City
Merrill Lynch lost 0.3% after it reported Q3 profits more than doubled. United Technologies fell 2%, despite reporting better-than-expected quarterly earnings. Johnson & Johnson gained 1.7% on strong Q3 profit. Chicago Mercantile Exchange Holdings agreed to acquire rival exchange CBOT Holdings for more than $8 billion in a deal that combines the two largest U.S. futures exchanges. CBOT shares surged 12%, while CME shares rose 2%.
- Elena
- 17 Oct, 2006
- New York City
The Sensex declined on Tuesday in a volatile trading as profit-taking persisted throughout the day. IT stocks lost finally momentum and finished flat after positive results from Infosys kept the sector upbeat over the last three session. Small-caps and mid-caps succumbed to selling pressure, contributing to a negative market-breadth. Satyam and Hero Honda led the advance, while HDFC Bank was the top decliner. Corus has accepted the bid from Tata Steel.
- Elena
- 17 Oct, 2006
- New York City
U.S. stock markets declined, following inflation data. Downgrade of chip maker Intel also weighed, as the stock fell 3% after Goldman Sachs cut its rating on the stock. In corporate news, Eli Lilly said it will buy joint venture partner Icos Corp. for $2.1 billion cash in a move to get full ownership of the top-selling impotence treatment, Cialis. Lilly will pay $32 per share for each Icos share, a premium of about 18% to Monday''s closing price of $27.12.
- Ivaylo
- 17 Oct, 2001
- New York City
London is near its lowest level of the day as financial stocks suffer and ahead of what futures markets are suggesting will be early losses on U.S. market. The banking sector weighed heavily with Barclays among the biggest decliners. Investors were also disappointed at the approach of Tata Steel for Anglo-Dutch steel manufacturer Corus. The FTSE 100 was down 19.8 points to 6,152.4 by mid-day.
- Elena
- 17 Oct, 2006
- New York City
A bigger-than-expected rise in core wholesale inflation put futures under pressure Tuesday. The Labor Department said the biggest decline in the seasonally adjusted producer price index in three years. It said that wholesale prices dropped 1.3% in September as the price of energy goods tumbled at the fastest rate in 20 years. Meanwhile, the core producer price index surprisingly rose 0.6%, as the prices of motor vehicles jumped at the fastest rate in more than 15 years.
- Elena
- 17 Oct, 2006
- New York City
The retailer plans to buy the hypermarkets from Taiwanese Trust-Mart. If the deal completes, Wal-Mart will become the country''s biggest food and department store network. Initially, Wal-Mart will acquire 31 stores, while the remainder of Trust-Mart''s stores will be bought over the next three years.
- Ivaylo
- 17 Oct, 2001
- New York City
Stock markets in Japan and South Korea declined on Tuesday as investors cashed in recent advancers such as Honda Motor Co. and Toyota Motor Corp. A stronger yen also helped as well as growing worries over North Korea nuclear scare and upcoming Asian earnings. A jump in crude oil prices overnight weighed on airlines and rubber companies in Japan. Markets in Seoul fell after hitting an intraday low on local news reports that North Korea may be preparing for another nuclear test.
- Ivaylo
- 17 Oct, 2001
- New York City
European stocks traded lower on Tuesday morning after higher oil prices weighed down auto and transport stocks such as DaimlerChrysler and as investors sold shares in luxury goods retailer LVMH and drug maker Roche Holdings after sales figures were posted. Oil prices were also in focus, lending support to commodity stocks. By mid morning, the FTSE 100 in London slipped 0.2%, Frankfurt Xetra Dax shed 0.8%, and the CAC 40 in Paris lost 0.7%.
- Ivaylo
- 17 Oct, 2006
- New York City
The stage for this was set by the weekend resolution on North Korea, even though it was not really an important imposition of sanctions. But the fact the Security Council did pass a resolution suggests the situation is quite serious. The strength of the euro against the dollar also added to the rise of gold as it is traditionally regarded as a hedge against inflation.
- Elena
- 16 Oct, 2006
- New York City
European stock markets finished higher, supported by gains for oil and technology companies which helped offset weakness sparked by disappointing earnings for Philips Electronics. Shares of BP advanced 1.4%, while miner Lonmin gained 4.1%. Infineon Technology rose 2.1% after Deutsche Bank upgraded its stock. The German DAX 30 closed up 0.2%, the French CAC 40 rose 0.2%, and London FTSE 100 gained 0.3%.
- Elena
- 16 Oct, 2006
- New York City
U.S. stocks rebounded from earlier declines as gains for Alcoa and IBM helped the Dow recover from early weakness caused by broker downgrades. Alcoa rose 1.9% after Prudential Equity Group raised its rating on the aluminum maker and its Canadian rival Alcan Inc. to overweight from neutral.
- Elena
- 16 Oct, 2006
- New York City
The bencmark index has gained almost 5% over the past three days supported by hopes of strong quarterly results, upbeat sentiment in Asian markets and foreign funds inflow. The rally today was range-bound, though, as the market-breadth once again remained weak. It seems that the earnings seasons draws the all the attention to large-caps. Private banks led the advance, with HDFC Bank in the lead. Reliance Industries also contributed to the rally. Auto and refinery stocks led the decliners.
- Elena
- 16 Oct, 2006
- New York City
Stocks markets started trading below the unchanged mark before a new batch of earnings reports, expected to give some clarity how companies are coping with a slowing economy. The Dow was dragged by downgrades of Home Depot and General Electric. However, shares of chip maker Intel Corp. advanced 2%, providing support to technology shares. The disk drive sector gained, with SanDisk, up 5.2% and Msystems, rising 4.7%.