- Ivaylo
- 20 Nov, 2006
- New York City
Initially gold sold off as energy prices weakened and the dollar climbed. But then as the dollar pulled back and oil prices pulled up, gold recovered. There is a general sentiment that December gold support area is $615-$618. There is also some feeling that gold could move higher into the end of the year. Platinum and copper rose on Friday too while silver slipped.
- 123jump.com Staff
- 17 Nov, 2006
- New York City
Market averages traded listless for the most part of the day. Lower than expected start in new home construction failed to offset the fall in oil prices. Oil prices dropped in New York and European trading. Nymex IPO priced at $59 rose 120% on the first day of trading to close at $132. CSN of Brazil is expected to bid $8 billion for Corus Group in the UK. European markets fell across the region and Asian markets continued to climb during the week.
- 123jump.com Staff
- 17 Nov, 2006
- New York City
European stocks closed lower on weakness in oil, metals and auto stocks. Markets across the region closed lower led by near 3% decline in Norway and 1% loss in the UK and Belgium. UK based Corus is set to receive a higher bid from Brazil based CSN, topping the current bid from Tata Steel from India. Corus stock closed higher the new bid price from CSN, indicating that a bidding war between CSN and Tata Steel is likely in the coming weeks.
- 123jump.com Staff
- 17 Nov, 2006
- New York City
Market averages at mid-day trading came under pressure on lower than expected housing starts and weaker than expected earning. The housing starts for October were reported at 1.486 million lower than the estimates of 1.55 million from economists. Home builder stocks traded lower on te news. Nymex priced 6.5 million shares in IPO at $59 per share and opened at $120 to trade as high as $152 before settling at $137.
- Elena
- 17 Nov, 2006
- New York City
The benchmark index was in correction mode today, as banking and cement stocks, which drove the rally, took a plunge in a volatile trading. Profit-taking emerged in the latter part of trading in large-caps stocks, the result probably of worse-than-expected inflation figures, paying no heed to Indo-US nuclear deal. Dr Reddy led the decliners today, ONGC and Gujarat Abuja followed. HDFC led the gainers, Reliance Communications and Bharti Airtel also rose.
- Elena
- 17 Nov, 2006
- New York City
Stocks reversed from solid gains after the Commerce Department reported that housing construction fell to its lowest level in more than six years. A sharp decline of crude oil prices provided some support. Nymex Holdings will be in the spotlight as it priced its IPO above the planned range late Thursday. The IPO of 6.5 million shares priced at $59 each, came in above the expected range of $54 to $57 a share. The deal was expected to open with a premium of between $10 and $15.
- Ivaylo
- 17 Nov, 2001
- New York City
London shares traded lower in the morning, despite a new record high on the US market overnight, as a slide in crude prices has knocked oil groups and also energy companies. BG, BP and Royal Dutch Shell were all lower as is British Energy despite reporting an improved half year performance. Weakness in metal prices overnight led the mining sector lower. The main index FTSE 100 was 15.1 points or 0.2% lower in mid-morning trade.
- Elena
- 17 Nov, 2006
- New York City
U.S. stock futures declined Friday, following weaker-than-expected data on the housing market. New U.S. homes construction plunged 14.6% in October to the lowest level in six years, while building permits dropped 6.3%, a nine-year low. Starbucks dropped 6.1% after the coffee retailer reported a 5% decline in Q4 profit on a below-forecast 21% sales rise. Dow component Hewlett-Packard lost 0.3% after the company said that the SEC had started a formal investigation into the spying scandal.
- Elena
- 17 Nov, 2006
- New York City
Hewlett-Packard earned $1.7 billion or 60 cents per share, compared with $416 million, or 14 cents per share last year, due to higher sales of laptop computers, printers and servers. Excluding one-time charges, the company
- Ivaylo
- 17 Nov, 2006
- New York City
Asian stocks finished mostly higher on Friday, with the Australian benchmark index rebounding, as other markets made slight gains. Most of the advances in Sydney came from financials. Japan, though, slipped as concerns over the pace of future interest-rate hikes weighed on bank shares. South Korean markets got a boost from airline and shipping stocks, while Taiwan edged higher despite losses in mobile phones.
- Ivaylo
- 17 Nov, 2006
- New York City
European stocks fell after crude prices plunged to their lowest levels in nearly a year overnight on forecasts of a mild winter in the northern hemisphere. Hopes of a mild winter, together with indications that the US is well supplied with oil, made benchmark crude prices end lower overnight which pressed European oil stocks down. By mid morning, the FTSE 100 in London was 0.2% lower, Frankfurt Xetra Dax gained 0.1%, and the CAC 40 in Paris lost 0.4%.
- Ivaylo
- 17 Nov, 2006
- New York City
Metal prices often drop when the dollar advances, as gold is traditionally viewed as a hedge against a weakening dollar. Gold prices also frequently track the movement of the energy markets, because many funds trade commodities as a whole. Gold and copper fell yesterday, while silver was unchanged and platinum and palladium managed to hold onto gains.
- 123jump.com Staff
- 16 Nov, 2001
- New York City
Stocks rose to a new high for the fifth day in a row on 4.5% drop in oil price and 0.5% drop in CPI for the previous month supported a broad rally led by tech stocks. Two large private equity driven deals for the buy out of Clear Channel Communications and Readers Digest supported a steady rise in market averages. Big lots rose on earnings but Sears holdings, Applied Materials and Dell lost grounds. Hertz Global and KBR IPOs get lukewarm reception. Starbucks miss earnings released after close.
- Elena
- 16 Nov, 2006
- New York City
European stock markets finished mostly higher on Thursday, reflecting strong auto stocks and well-received U.S. inflation data. However, disappointing financial results from chipmaker Infineon Technologies, bank BNP Paribas and publisher Reed Elsevier limited the upward trend. London FTSE 100 climbed 0.4%, the German DAX 30 rose 0.2%, while the French CAC 40 edged down 0.1%.
- Elena
- 16 Nov, 2006
- New York City
Sears Holdings said that Q3 profits more than tripled, boosted by $101 million in investment income and cost-cutting. Earnings jumped to $1.27 per share, up from 35 cents per share a year earlier, beating analyst expectations of 98 cents. However, company