- Elena
- 14 Dec, 2006
- New York City
U.S. stocks rallied in late morning trading, boosted by better-than-expected earnings results. The Nasdaq jumped more than 1%, driven higher by Costco, Ciena, and Adobe. Costco Wholesale helped the Nasdaq up with a gain of 2.8% after it posted earnings above forecasts. Ciena jumped 8% as it swung to a Q4 profit on sharply higher revenue, beating estimates. Adobe Systems gained 1.9%.
- Elena
- 14 Dec, 2006
- New York City
After the recovery on Wednesday, the Sensex surged even stronger today on heavy buying in from small to large cap stocks. Bank stocks managed to rebound led by ICICI Bank. Reliance Industries, Satyam, NTPC, Cipla were the other big gainers. Of the Sensex stocks only Hero Honda and Tata Steel declined.
- Elena
- 14 Dec, 2006
- New York City
Stock markets advanced at opening, lifted by record profits in the financial sector. Bear Stearns reported record-high financial results in Q4, helped by robust capital markets and investment banking activity. The company posted 38% profit rise to $4 per share, up from $2.90 per share, a year earlier. Lehman Brothers said Q4 profit rose 22% to $1.72 per share, compared with profit of $1.38 per share a year ago, beating estimates.
- Ivaylo
- 14 Dec, 2006
- New York City
Miners led the FTSE 100 as some traders decided that the recent sell-off had gone too far. Antofagasta and Xstrata led the advancers. Banking company HBOS published a bullish trading statement, noting that its performance in the year to December is expected to exceed market expectations for underlying earnings per share. British Airways Plc surged after rival Qantas Airways Ltd. accepted an improved buyout. By late morning, the FTSE 100 gained 12.6 points, or 0.2%.
- Elena
- 14 Dec, 2006
- New York City
U.S. stock futures turned mixed Thursday as strong earnings from brokerage giants Bear Stearns and Lehman Brothers eased concerns over an expected cut in oil output by the OPEC. Bear Stearns reported record-high financial results in Q4, helped by robust capital markets and investment banking activity. Investment bank Lehman Brothers said Q4 profit rose 22% on strong underwriting fees and improved performance in its capital markets business.
- Ivaylo
- 14 Dec, 2006
- New York City
Asian markets surged Thursday, with China striking a record high due to intensified trade talks with U.S., and Australian stocks gained in the wake of Qantas acceptance of an improved takeover bid. In Japan stocks hit a seven-month high due to the recent weakness of the yen prompting investors to buy shares of auto makers and other exporters. South Korean shares added on large-cap technology, bank and automobile issues and HK advanced on telecoms.
- Ivaylo
- 14 Dec, 2006
- New York City
European stocks gained on speculation companies are increasing earnings even as the world economy slows. HBOS advanced the most in two months after the biggest mortgage lender in Britain announced 2006 earnings will beat estimates. Rio Tinto Group and Xstrata Plc led the rally in mining shares after Cazenove stated metals demand remains strong. By mid morning, FTSE 100 in London climbed 0.3%, Frankfurt Xetra Dax gained 0.2%, and the CAC 40 in Paris added 0.4%.
- Ivaylo
- 14 Dec, 2006
- New York City
The rally in crude oil reflected the gold market as well. Oil was given a boost from the report of the Energy Information Administration which showed an across-the-board withdraws in US petrolium shares, in that number a large drop in crude inventories. Gold fell at the opening of the session and it was hesitant at around $627 level but managed to rebound aided by the stronger oil.
- 123jump.com Staff
- 13 Dec, 2001
- New York City
November retail sales rose 1% from previous month and 5.6% from a year ago after adjusting for seasonality. The 1% rise was significantly higher than estimate of 0.1% expected by most analysts. October retail sales decline was revised from loss of 0.4% to 0.1%. Market averages rose on the news but failed to sustain the rally on the rise in crude oil price. Oil invenory fell more than expected sparking inflation worries and dragging the averages lower. UAL and Continental are discussing merger.
- Elena
- 13 Dec, 2006
- New York City
European stocks advanced Wednesday, boosted by retail stocks, stronger U.S. dollar, and gains on Wall Street. Dollar-sensitive export stocks posted gains, as the greenback rose 0.4% to $1.3219 vs. the euro. The German DAX 30 advanced 0.7%, with automaker Volkswagen and chip maker Infineon Technologies, up 1.9% each. The French CAC 40 rose 0.9%, helped by 1.7% rise for Airline Air France-KLM. The U.K. FTSE 100 ended up 0.6%, helped by online gambling companies PartyGaming and SportingBet.
- Elena
- 13 Dec, 2006
- New York City
Market retreated from an early rally on strong retail data, as a disappointing oil inventory report sent oil prices sharply higher. Light sweet crude rose 58 cents to $61.60 after the U.S. government reported that crude supplies fell by 4.3 million barrels last week. IPOs were boosted by the early bullish sentiment. IPG Photonics surged 50% after it offered 9 million shares at $16.50 each, yielding proceeds of $149 million. The stock opened at $25 a share.
- Elena
- 13 Dec, 2006
- New York City
Trading was extremely volatile on Wednesday as the benchmark index swung almost 400 points from low to high. Investors were covering short positions today and taking new long positions that helped the market rebound. Reliance Communications was the leading advancers, Bharti Airtel also surged. Reliance Industries ended the session with a significant gain. Banks pulled off after the recent steep decline. ONGC and Tata Steel led the decline.
- Elena
- 13 Dec, 2006
- New York City
Stock markets opened higher, as better-than-expected retail sales in November, eased concerns about the extent of a slowdown in the economy. Sales rose 1%, much higher than the 0.2% gain expected by economists. Dow component Wal-Mart was among the biggest blue-chip gainers, adding 1%. Merger talks between airlines UAL and Continental Airlines also helped boost the sentiment.
- Ivaylo
- 13 Dec, 2006
- New York City
UK market was on the advance through the morning as Tate & Lyle surged, while some upbeat miners countered the losses in banking shares. Broker comments from JP Morgan put Alliance & Leicester back although the group announced forecast profits for this year would top forecasts of analysts. In mid-day trade the FTSE 100 was 17 points, or 0.4%, higher at 6,184.4 having opened the session lower.
- Elena
- 13 Dec, 2006
- New York City
U.S. stock market futures posted solid gains, boosted by strong retail sales and deal talk in the airline sector. Seasonally adjusted retail sales rose 1% in November, well above economist estimate. UAL Corp. and Continental Airlines were reportedly in talks about a possible merger that would create the largest U.S. domestic carrier. Continental shares rose 4.9% and UAL shares gained 5%. Apple shares advanced 1.4% to $87.36 after Morgan Stanley raised its stock price target.