- Elena
- 19 Dec, 2006
- New York City
The market sank today, coming under heavy selling pressure in the wake of Thai Central Bank to restrict foreign inflows which influenced emerging markets negatively. All sectors finished lower with IT and capital goods hit the worst. Hero Honda was the only Sensex stock to gain while BHEL was the leading decliner. NTPC and Reliance Communication also plunged. Sugar stocks were among the few to hold to their gains.
- Elena
- 19 Dec, 2006
- New York City
U.S. stocks opened lower on Tuesday after government data showed the sharpest rise in producer prices in 32 years last month, sparkling inflation and higher interest rates concerns. Oracle Corp. fell 4.6% after the software maker posted disappointing sales results. Circuit City Stores said it swung to a loss in Q3 because of sharp discounts on flat-panel televisions and computer equipment. The company also lowered its full-year sales forecas. The stock slipped 17%.
- Ivaylo
- 19 Dec, 2006
- New York City
Britvic shares shone in a weak London market on Tuesday as anticipation of a bid received a boost by reports that Permira had bought a 9.2% stake in the soft drinks company. Permira is reported to have bought the stake from Axa Investment Managers. Also, miners came under heavy selling pressure as investors took to profit-taking. Other underperformers included Vodafone, Hanson. The FTSE 100 declined 28.6 points, or 0.5%, in late morning trade.
- Ivaylo
- 19 Dec, 2006
- New York City
Markets closed lower on Tuesday as Thai shares slumped more than 14% after the central bank of the country announced rules to discourage foreign funds inflows from boosting the local currency, the baht, any further. Tokyo stocks also closed sharply lower on financials while HK dipped on selling pressure. Resource stocks were mostly lower, pacing declines in crude-oil prices.
- Ivaylo
- 19 Dec, 2006
- New York City
European markets traded lower in early session on Tuesday, as technology companies such as SAP and resource shares are among the leading decliners on investors weighing some overnight profit-taking in the U.S. with corporate news. The broad-based drops paced profit-taking-related losses in U.S. stock markets overnight, especially in the technology sector. The U.K. FTSE 100 index declined 0.4%, the German DAX Xetra 30 index dipped 0.5% and he French CAC-40 index lost 0.6%.
- Ivaylo
- 19 Dec, 2006
- New York City
Silver registered its weakest finishing level in seven weeks. The market is still at most risk to extend long liquidation as the dollar sentiment improved and fund players positioned long ahead of year-end, and the market set to weaken over the next two weeks over the Christmas/New Year holiday period. Gold seems to be incredibly oversold on the fascination of market with exchanging paper assets.
- 123jump.com Staff
- 18 Dec, 2006
- New York City
Mergers worth $70 billion ruled the trading sentiment today. Stat Oil agreed to purchase off-shore exploration unit of Norsk Hydro forming the fourth largest energy company in Europe. Caremark surged 10% after getting a higher bid from Express Script. Realogy rose 20%, owner of Century 21 and Coldwell Bankers, jumped on a bid from Apollo Management. Harrahs gained on a higher offer of $16.7 billion. Joy Global reported 60 cents per share, stock up 8%. Goolge dropped on valuation worries.
- Elena
- 18 Dec, 2006
- New York City
European stocks finished largely in the negative on Monday, despite gains from the energy sector on the back of a big merger deal in which Norwegian Statoil agreed to buy the oil and natural-gas division of Norsk Hydro. Regional markets declined amid weakness in the mining sector and heavy losses for British companies BT Group and Tate & Lyle Plc. The German DAX 30 added 0.1%, while the French CAC-40 index eased 0.2%, and London FTSE 100 index also closed down 0.2%.
- Elena
- 18 Dec, 2006
- New York City
U.S. stocks shot higher Monday as several multibillion-dollar merger deals and an upgrade of Citigroup provided a boost for an ongoing year-end rally. However, a decline in crude oil prices weighed on energy shares, limiting gains for the broader market. Citigroup rose 2.1% after Merrill Lynch upgraded the stock to a buy from a neutral, citing the stock''s attractive valuation.
- Elena
- 18 Dec, 2006
- New York City
A surge in Reliance Industries and strong performance by ONGC helped the benchmark index to end in positive territory for the fourth straight day. Trading was extremely volatile with a broad market-breadth as small and mid-cap stocks enjoying buying interest. ONGC was the leading advancer with Ranbaxy and Wipro following closely. BHEL led the decliners together with NTPC and Reliance Energy. Cairn India IPO at low end of the range. RBI issued new guidelines to banks for capital ratios.
- Elena
- 18 Dec, 2006
- New York City
U.S. stocks advanced at opening Monday, as a number of takeover deals raised hopes of continued corporate confidence at the end of the year. Pharmacy benefits manager Express Scripts confirmed its $26 billion bid for rival Caremark RX. In another deal, Realogy agreed to be acquired by private equity firm Apollo Group for about $6.65 billion. Dow component Citigroup rose 0.7% after Merrill Lynch upgraded its stock to a buy from neutral.
- Ivaylo
- 18 Dec, 2006
- New York City
The FTSE 100 was near a six-year high on Monday owing to strong gains for Smith & Nephew shares. Reports suggested that Smith & Nephew is still a contender in the running to buy Biomet, but is confronted by stiff competition from private equity groups. Also, BT dipped as it struggles to resolve its huge pension deficit. The FTSE 100 in London traded unchanged in mid-afternoon down 1.40 points, or 0.02%, at 6,258.60.
- Elena
- 18 Dec, 2006
- New York City
U.S. stock market futures looked ready to extend the year-end rally, boosted by takeover activity and upgrade for Citigroup. Harrah''s Entertainment is close to being sold to private equity firms Apollo Management and Texas Pacific Group for at least $90 a share. Two Norwegian oil companies agreed on a takeover deal. Statoil agreed to buy the oil and natural-gas division of Norsk Hydro in a deal that will create the world''s largest offshore operator.
- Elena
- 18 Dec, 2006
- New York City
Express Scripts, which is a small company with a market capitalization of $9.3 billion, and debt of around $1.6 billion, said it would pay $29.25 in cash and 0.426 shares in Express Scripts for each share of Caremark.
- Ivaylo
- 18 Dec, 2001
- New York City
Asian markets ended higher Monday. Japanese Nikkei 225 Index advanced on gains in exporters after the yen slipped versus the dollar, while another record finish on New York stock exchange also boosted sentiment. In Hong Kong, the Hang Seng Index egded higher by gains in large-cap China Mobile. South Korea and Australia also advanced, although miners in Australia finished lower. Shares in Taiwan, Singapore gained as well, while New Zealand bucked the overall trend and declined.