- Elena
- 07 Sep, 2006
- New York City
U.S. stock market futures pointed to a negative opening on concerns over global inflation and signs of slowing housing market. Home builder KB Home fell 5.5% in electronic trading after it cut its forecast on Wednesday. Hovnanian Enterprises rose 2.1% in after market trading, despite reporting fiscal Q3 net income drop by 36% and orders decline by 26%.
- Ivaylo
- 07 Sep, 2006
- New York City
Technology stocks slumped tracking U.S. markets. NEC Corp. and Hitachi Ltd plunged in Japan, leading the market down. Auto shares also took a dip. Property stocks such pulled Hong Kong index lower and LG Electronics led South Korea down. Shanghai and Australia also fell.
- Ivaylo
- 07 Sep, 2006
- Frankfurt
European markets fell on Thursday as interest rate concerns were back in line, due to comments from US Fed and ECB officials, while the Bank of England is seen keeping UK rates on hold. By midday, London FTSE 100 slipped 1%, while Frankfurt Xetra Dax shed 0.5% and the CAC 40 in Paris lost 0.8%.
- Ivaylo
- 07 Sep, 2001
- Metals
Invetors mentioned technical factors, apparent short covering in Shanghai and a strong U.S. service-sector survey for the rise of copper. An unwinding of short positions in Shanghai trading lately appears to be lending some overall support to prices. Gold futures fell on profit-taking and a firm dollar Wednesday at the NYME.
- 123jump.com Staff
- 06 Sep, 2006
- New York City
At close, Nasdaq, led three popular averages in decline with a loss of 1.7%. S&P 500 lost 1% and Dow dropped 0.6%. Labor Department reported labor cost rose 4.9% in the second quarter and 9% in the first quarter. The second quarter increase in total cost was the highest since 1990. Rising labor costs stoked the fear of inflation and cut market averages down in the afternoon trading.
- Elena
- 06 Sep, 2006
- Frankfurt
European markets closed sharply lower Wednesday, reflecting profit taking and weakness in the auto and oil sectors. Losses on Wall Street amid inflation concerns also added to the pressure. The German DAX 30 led losers, falling 1.2%, followed by the French CAC 40, down 1.1%, and London FTSE 100, down 0.9%.
- Elena
- 06 Sep, 2006
- New York City
The stock averages traded lower with the Nasdaq notably down, reflecting weakness in the tech sector. The Institute of Supply Management reported that the nonmanufacturing sector of the U.S. economy expanded at a faster pace in August. The ISM nonmanufacturing index jumped to 57% from 54.8% in July, above expectations of a rise to 55.4%.
- Elena
- 06 Sep, 2006
- Mumbai
The Sensex reached four-month high, as the turnover on BSE and NSE rose sharply today. The benchmark index, however, erased some of the gains in late trading, as traders took profit. Metals, capital goods, oil and gas and pharma stocks gained, while autos and banking stocks lost. L&T, Reliance Energy, Bharti Airtel led the advancers, ONGC and HDFC Bank lost the most. Reliance Telecom opens iternational high speed Internet bandwidth spanning all the way to Egypt.
- Elena
- 06 Sep, 2006
- New York City
Labor cost growth was revised up to 4.9% compared to the preliminary reading of 4.2% growth. Second-quarter productivity was revised to 1.6%, up from the 1.1% level reported a month ago. However, Ford Motor Co. helped to limit the downward trend, rallying 2.3% on news that it had hired former Boeing executive Alan Mulally to run the company.
- Elena
- 06 Sep, 2006
- New York City
U.S. stock market futures indicated a weak opening on Wednesday amid Intel Corp.
- Elena
- 06 Sep, 2006
- New York City
Bertelsmann''s chief financial Thomas Rabe said the sale of the unit will help pay back the $5.76 billion of debt raised to finance the buyback of the 25% stake in the company held by Groupe Bruxelles Lambert. Bertelsmann expects that the sale will increase net income by approximately $1.28 billion.
- Ivaylo
- 06 Sep, 2006
- New York City
Asian shares finished mostly lower Wednesday, as Japanese stocks were hit by profit-taking, and HSBC Holdings pushed Hong Kong stocks lower on worries index funds will sell the bank ahead of a change in the Hang Seng Index. Australia declined too after the government released figures showing the economy had grown at a slower pace than expected in the second quarter. Shanghai Composite Index bucked the downtrend and closed higher.
- Ivaylo
- 06 Sep, 2006
- Frankfurt
The auto segment slipped after a leading broker turned neutral on the sector, and due to the dull U.S. trading overnight. Losses were cushioned, however, by a number of positive earnings reports and oil prices falling back below $69 a barrel. The U.K. FTSE 100 index shed 0.2%, the German DAX Xetra 30 index lost 0.2%, the French CAC-40 index declined 0.1%.
- Ivaylo
- 06 Sep, 2006
- Metals
Reports that production of gold is shaky at best is invigorating the bullion market exactly on the threshold of the approaching Indian wedding season. Gold still has some repair work to complete and will need to overcome resistance around the mid-$600 level in order to attempt subsequent hits at $680 or higher.
- 123jump.com Staff
- 05 Sep, 2006
- New York City
Intel announced much rumored restructuring and said that it plans to lay-off 10,500 people. Most of the job losses will be in marketing, management and information technology areas. The company also plans to avoid spending $1 billion in capital expenditures.