- Elena
- 05 Dec, 2006
- New York City
The Sensex opened above 14,000 level, up more than 150 points from its previous close. Profit-taking weighed shares lower in subsequent trades, but the benchmark index managed to extend its rally for the fifth straight day. Steady buying in Tata Steel, Reliance, Reliance Communications and Infosys as well as from foreign funds saw the index display positive trend through the day. Government may consider fiscal measures, if required, to ease pressure on the prices of non-food articles.
- Elena
- 05 Dec, 2006
- New York City
U.S. stocks opened little changed on Tuesday as traders digested a report from the Labor Department that showed modest Q3 productivity growth but significant downward revisions Q3 and Q2 unit labor costs. In deal news, Japan''s tire company Bridgestone Corp. said its North America subsidiary will buy Bandag Inc., a maker of tire tread rubber, for about $1.05 billion in cash. Shares of Bandag rose 12% to $50.40 in morning trading.
- Ivaylo
- 05 Dec, 2006
- New York City
High street retailer Woolworths was deep into negative territory though after it warned that it will need better sales over Christmas if it is to achieve full year results at the lower end of expectations. In the wider market, strength in the mining sector sent the FTSE 100 higher. Antofagasta led the advancers, while Vodafone gained after Goldman Sachs raised its recommendation. In early trade, the FTSE 100 rose 25.1 points, or 0.4% to 6,075.7.
- Elena
- 05 Dec, 2006
- New York City
Stock market futures indicated a slightly higher opening Tuesday, after a revised report on Q3 labor productivity showed that productivity was revised up, but came in below economist estimates. Productivity in the nonfarm business sector rose 0.2% in Q3, down from the expected increase of 0.4%. The report also showed a downward revision to the pace of unit labor cost growth in Q3, which was revised down to 2.3% from 3.8%.
- Elena
- 05 Dec, 2006
- New York City
Toll Brothers said net income in Q4 fell to $174 million, or $1.07 a share, from $310 million, or $1.84 a share last year, slightly above expectations of $1.06 a share. Revenue fell to $1.81 billion from $2.02 billion. The home builder attributed the downbeat results to 15 months of a home building slowdown, and over 585 cancellations. The net income in the following year is forecast to fall to between $260 million and $340 million, or $1.58 to $2.08 a share.
- Ivaylo
- 05 Dec, 2006
- New York City
Asian markets ended mixed Tuesday, as oil producers and banks pushed Japan''s benchmark lower, while gains in the telecommunications sector helped lift shares in Hong Kong. South Korean stocks declined, as automobile and technology shares fell on continued weakness in the dollar. Chinese stocks climbed to another five-year high in Shanghai, as gains in the property sector. In Taiwan, shares fell slightly, breaking a four-session winning streak.
- Ivaylo
- 05 Dec, 2001
- New York City
European stocks markets advanced on Tuesday as sentiment was buoyed in the telecoms sector after an upgrade for Vodafone, while steelmakers were lifted by merger speculation. Mobile telecoms groups were higher after Goldman Sachs raised its recommendation on Vodafone. Steelmakers were also among the gainers after CSN of Brazil completed due diligence on Anglo-Dutch target Corus. By mid morning, London FTSE 100 climbed 0.6%, Frankfurt Xetra Dax added 0.6%, and the CAC 40 in Paris gained 0.6%.
- Ivaylo
- 05 Dec, 2006
- New York City
Gold and silver prices bounced a bit higher Monday, recovering from a fall earlier in the day as traders resumed their expectations that the dollar will slide further. The market got itself a little bit long at the end of last week, expecting a continuation of the rally on the back of U.S. dollar weakness. But the U.S. dollar stabilized a bit Monday morning. Crude oil bounced off its low, aiding the recovery of the metals.
- 123jump.com Staff
- 04 Dec, 2006
- New York City
Merger news worth more than $30 billion, 1.6% drop in oil price and investors desire to add tech stocks led three popular averages near the record level. Bank of New York agreed to buy Mellon Financial after $16.5 billion and form the largest custodian of financial assets. Bank of NY shres jumped 12% and Mellon rose 5% on the news. Agere Systems and LSI Logic agreed to merge. Pfizer lost 11% after dropping its cholesterol drug.
- Elena
- 04 Dec, 2006
- New York City
European stocks closed in the positive Monday. The regional markets advanced on deal-making news, takeover speculation, gains on Wall Street, and late-session buying on relief that Pfizer didn
- Elena
- 04 Dec, 2006
- New York City
The three major market averages posted a significant strength on Monday morning, boosted by well-received merger-and-acquisition news and lower crude oil prices. The Nasdaq showed a particularly strong upward move, with the tech-heavy index rising 1% on solid gains in the semiconductor sector. Oil prices retreated from last-week highs, with a barrel of light, sweet crude falling $1.05 to $62.38 on the Nymex.
- Elena
- 04 Dec, 2006
- New York City
The market closed almost flat in volatile trading. The Sensex traded in a narrow range of 84 points today. Almost all sectors traded in the positive territory. Capital goods stocks, consumer durables and metal stocks advanced. Tata Motors led the gainers and ACC rallied. Satyam, HDFC Bank and Wipro led the decliners. India is hoping to resolve through dialogue a trade dispute with the European Union.
- Elena
- 04 Dec, 2001
- New York City
U.S. market averages started trading higher Monday morning, despite a steep decline by the shares of Pfizer. The drugmaker''s decision to halt development of a key drug generated negative sentiment in pre-opening hours, but series of takeover deals managed to offset the negative mood. Chipmaker LSI Logic fell 12% after it agreed to buy Agere Systems in an all-stock deal worth around $4 billion. Shares of Bank of New York jumped 8.8% after it agreed to takeover Mellon Financial which rose 4%.
- Ivaylo
- 04 Dec, 2006
- New York City
It is all about the food producers today after Branston pickles to Sarsons vinegar group Premier Foods agreed a recommended offer for Hovis owner RHM. Several other food companies gained following the announcement including Northern Foods and Cadbury Schweppes. Cadbury Schweppes and Cairn Energy lead the FTSE 100 advancers. Both are being buoyed by vague bid talk. The FTSE 100 rose 8.8 points, or 0.1%, at 6,029.7 at mid-day on Monday.
- Elena
- 04 Dec, 2006
- New York City
U.S. stock futures declined, hurt by weakness in Pfizer shares. Pfizer dropped 14% in pre-market trading as the drugmaker said it halted the development of cholesterol drug torcetrapib because of deaths and cardiovascular problems in patients using it. A downgrade by Leman Brothers followed the news. Bank stocks were also in focus after Bank of NY agreed to buy Mellon Financial to become the world''s largest financial assets service company.