- Elena
- 16 Nov, 2006
- New York City
The benchmark index managed to finish in posititve in a highly volatile session. Once again cement stocks boosted the market led by Gujarat Ambuja Cement on two block trades, helping to boost the turnover above Rs 16,000 crore on two exchanges. The market-breadth remained negative as small-caps and mid-caps are still showing weakness. HDFC Bank led the advancers today, cement stock ACC surged. Infosys led the decliners while pharma and auto stocks also plunged.
- Elena
- 16 Nov, 2006
- New York City
Clear Channel Communications Inc., the largest U.S. radio-station owner, agreed to be acquired by an investor group led by private-equity firms Thomas H. Lee Partners and Bain Capital Partners for $18.7 billion in cash. The deal includes about $8 billion in debt. Reader''s Digest rose 8% after agreeing to be acquired for about $1.61 billion by an investment consortium.
- Ivaylo
- 16 Nov, 2006
- New York City
National Grid was the leading advancer, as the energy network operator announced higher profits and plans to demerge its mobile phone mast business. London has gained also as weaker than expected US inflation numbers gave US markets an early boost, while Vedanta Resources has erased some of its heavy losses. By mid-day, the FTSE 100 index was up 8.5 points, or 0.1%.
- Elena
- 16 Nov, 2006
- New York City
Bonds were actively traded early Thursday, as government data showed the lowest core consumer inflation reading since February. The U.S. Labor Department reported that its consumer price index dropped by 0.5% in October, matching the decline of the previous month. Core CPI, which excludes food and energy sectors, edged up by 0.1%. This followed 3 consecutive months of 0.2% increases.
- Elena
- 16 Nov, 2006
- New York City
U.S. stock futures traded little changed Thursday morning, with investors awaiting consumer inflation data release. Quarterly earnings reports are expected from Hewlett-Packard, Sears Holdings, Starbucks, and Gap Inc. Dell Inc. postponed its quarterly financial report as the SEC stepped up its probe into the accounting practices of the company.
- Yordanka
- 16 Nov, 2006
- New York City
Japanese stocks closed lower Thursday, swinging from earlier gains on concerns over the timing of future interest-rate hikes, while the leading share index in Hong Kong rose to a record close for the second straight time. Elsewhere around the region, markets closed mixed. Australian leading index fell on weakness in mining shares, while Singapore finished at another record.
- Ivaylo
- 16 Nov, 2006
- New York City
As well as financials, investors looked to U.S. inflation data later in the session and eyeing badly received updates from chipmaker Infineon Technologies and publisher Reed Elsevier. Carmakers led the advance in early trade. Volkswagen shares surged on speculations of likely offer from rival Porsche. By mid morning, London FTSE 100 gained 0.1%, Frankfurt Xetra Dax was marginally lower, and the CAC 40 in Paris fell 0.1%.
- Ivaylo
- 16 Nov, 2006
- New York City
An early report of better-than-expected manufacturing data in New York State, gave the dollar a boost, but weighed on the precious metals. Overall, silver has been outperforming gold. Silver is getting support from non-obvious sources and it seems likely that if gold prices move higher on the back of a weaker U.S. dollar expected, then silver will move higher and probably continue to outperform gold.
- 123jump.com Staff
- 15 Nov, 2006
- New York City
Fed minutes showed that officials remained concerned on fighting inflation and near term rates are unlikely to be cut. The Fed also debate showed that the housing market slow down is not showing any sign of spill over in consumer spending. Recent in decline in oil price may stem from the weakness in global demand than from the rising oil supply, according to the minutes. U.S. Air is prepared to offer $8 billion to creditors of Delta, when the company emerges from the bankruptcy.
- Elena
- 15 Nov, 2006
- New York City
European stock markets closed higher Wednesday, boosted by a tech-stock rally which offset a sharp drop in shares of exchange operators. The German DAX 30 rose 0.68%, boosted by Infineon Technologies, up 3.4%. The French CAC 40 climbed 0.64%, led by strong tech stocks. Shares of Alcatel gained 2%, while STMicroelectronics rose 3.2%. London FTSE 100 climbed 0.7%, with telecom stocks giving a strong boost.
- Elena
- 15 Nov, 2006
- New York City
U.S. stocks extended Tuesday''s rally on easing concerns about the health of the economy and gains for blue-chips Altria and Boeing, up 1.7% and 1.2% respectively. US Airways climbed 11.7% after launching an $8 billion bid for Delta Air Line. Following the news, other stocks in the airline sector moved higher. Southwest Airlines Co. added 3.74%, American Airlines parent AMR Corp. rose 4.4%, while UAL Corp. climbed 6.8%.
- Elena
- 15 Nov, 2006
- New York City
With high volatility Sensex advanced for another session led by a rally in banking stocks. Subsiding interest rates worries lifted the sector as well as 10-year bond prices rising to a six-month high. Stable cement prices bolstered cement stocks as well. Bharti Airtel surged to an all-time high, buoying market sentiment still further. Software stocks led the decline, pharma stocks ended mixed. ICICI Bank led the gainers while on the opposite end was Hindustan Lever, leading the decliners.
- Elena
- 15 Nov, 2006
- New York City
Stocks opened modestly higher, with investors eyeing an $8 billion acquisition bid in the airline sector and awaiting minutes from the Federal Reserve''s meeting last month. Significant strength emerged in the airline sector after US Airways offered to acquire Delta Air Lines for $8 billion in cash and stock. Shares of U.S. Airways climbed 8%. AirTran surged 19% and JetBlue rose 9%, turning in two of the sector''s best performances.
- Ivaylo
- 15 Nov, 2006
- New York City
Deutsche Bank has turned buyer on mobile company Vodafone from its previous hold stance following the first half figures released yesterday. Kingfisher is out of favour with brokers after they noted that its shares are fast approaching their respective price targets. Cadbury Schweppes slipped back as Goldman Sachs reduced the confectionery maker to sell from neutral on a challenging landscape for the next six months. The FTSE 100 was 21 points, or 0.4%, higher by mid-day.
- Elena
- 15 Nov, 2006
- New York City
U.S. stock futures indicated a flat start of Wednesday session, awaiting the release of minutes of the last FOMC meeting as well as crude inventories data. In earnings news, Tyco International reported Q4 profit increase on higher sales and a gain from special items. Net income jumped to $1.27 billion, or 62 cents per share, up from $917 million or 44 cents per share last year. Airline stocks are seen in the spotlight after U.S. Airways made an $8 billion offer for Delta Air Lines.