- Elena
- 28 Aug, 2006
- New York City
Stocks traded above the flat line as strength in the tech sector overshadowed weakness in the energy sector. Intel Corp. advanced 1.1% following a brokerage upgrade to outperform from market perform. A partnership between eBay Inc. and Google Inc. also provided support, sending Ebay shares up 2.6% and Google''s up 1%.
- Elena
- 28 Aug, 2006
- Mumbai
The Sensex on BSE traded firm during the session , but for most part of the day lacked buying impulses. In the final minutes of trading, though, blue-chips were again in demand, helping the benchmark index to record a modest gain. Reliance Industries, Hindustan Lever and State Bank of India led the turnaround. Stocks from aluminium, cement, engineering, petrochemical, power, software and steel sectors also advanced. Tech Mahindra IPO surges 51% from the offer price.
- Elena
- 28 Aug, 2006
- New York City
U.S. stocks moved modestly higher at opening. Technology stocks were driven by a deal between Internet search leader Google and auction Web site Ebay. Google will begin selling advertising on EBay and help buyers quickly do business with online merchants. Ebay rose 2.4% to $25.91, while Google rose $3.07 to $376.33.
- Elena
- 28 Aug, 2006
- New York City
Stock futures moved lower, reflecting overseas losses and uncertainty ahead of economic data releases later in the week. Investors, concerned over the outlook for interest rates and a sharper-than-expected slowdown in economic growth, paid little attention to a drop in oil prices and a $22 billion buyout of Kinder Morgan.
- Elena
- 28 Aug, 2006
- New York City
The offer represents a 5.7% premium over the company''s closing stock price on Friday and a 27% premium over the closing price on May 26, the last trading day before the investor group made its proposal. The deal is expected to close at the beginning of 2007.
- Ivaylo
- 28 Aug, 2006
- New York City
Exporters including Canon and Toyota declined on concerns that a U.S. slowdown would hurt profits. Traders in Japan were also cautious, awating key domestic economic releases of unemployment figures on Tuesday and of industrial production data on Thursday. In Hong Kong, stocks dropped on concerns reflecting the possible slowdown of U.S. economy. South Korea closed flat, while in Taiwan, shares ended at their lowest level in three weeks.
- Ivaylo
- 28 Aug, 2006
- Frankfurt
European markets edged lower in early trading as crude oil prices fell to below $72 a barrel after a hurricane in the Caribbean was downgraded to tropical storm, reducing the threat of damage to oil production facilities in the Gulf of Mexico. Also shares in Banca Intesa and Sanpaolo IMI slid after the two agreed a merger plan over the weekend, while Unilever climbed after agreeing to sell its European frozen food business.
- Ivaylo
- 28 Aug, 2006
- Metals
In the absence of any key economic data, the market lacked direction on Friday and short covering was observed once again during the session. While gold was being supported to some extent by hiking crude oil prices, the overall tone remains quiet and was punctuated by thin trading conditions.
- 123jump.com Staff
- 26 Aug, 2006
- Frankfurt
Banca Intesa and Saopaolo IMI have agreed to merge creating the largest Italian bank with $700 billion in assets and 7,700 branches. The current number one, Unicredit has $300 billion in assets. The combined bank is likely to cut costs by laying-off people and investing in information system. Italian banking industry is likely to see more local mergers in the coming years to prevent other smaller rivals from being gobbled up by foreign banks.
- 123jump.com Staff
- 25 Aug, 2006
- New York City
Market averages meandered during the day as traders found no direction for interest rate in the Chairman Bernanke speech. Rise in oil also kept stock market in check. Two developing storms in the Gulf and Caribbean regions kept oil traders on the edge. H&R Block fell 9%. Ford Motor is reported to be in talks to sell its luxury division. Robert Rubin resigned from the Ford board citing potential conflict of interest.
- 123jump.com Staff
- 25 Aug, 2006
- New York City
Market averages are in the negative zone as oil and natural gas mount a comeback. Crude oil for October delivery is 1.2% and natural gas is up 1.5%. Energy explorers, refiners and markets are leading the sector gain. Natural gas is at a two week high and crude oil is at a one week high. Ford Motor is in talks to sell luxury division. H&R Block is down 9% on loan loss reserve of $100 million.
- 123jump.com Staff
- 25 Aug, 2006
- New York City
Sensex average in India has gained 6% in the last three weeks of trading. Market sentiment has been supported by a steady buying from mutual funds, international investors and normal monsoon rain. During the trading today, Sensex gained almost 1%, with a steady upward movement of large-caps such as Reliance Industries and SBI, which led the advancers today. Hindalco, Tata Steel and Bajaj Auto led the rally.
- 123jump.com Staff
- 25 Aug, 2006
- New York City
Market averages are hugging the unchanged level with a negative bias. S&P 500 and Dow are down a fraction but Nasdaq is up. Ford Motor is up 4% on the restructuring news. Ford is reported to be in talks to sell its Jaguar and Land Rover division. H&R Block is down 9% on the news that the company has sent aside $100 million to cover potential losses from mortgage loans.
- 123jump.com Staff
- 25 Aug, 2006
- New York City
Futures market is pointing higher opening but the view is not unanimous. S&P 500 futures are indicating lower opening. Oil in Europe is up 1.5%. Ford Motor is in talks to sell its luxury auto division consisting Jaguar and Land Rover to a group headed by Jacque Nasser, former CEO of the company. Rober Rubin resigned from the Ford board citing potential conflict of interest. Home Depot has placed a buy back plan for $3.5 billion.
- Ivaylo
- 25 Aug, 2006
- New York City
Although Toyota Motor and Sony pressed the Nikkei Average down, Asian markets closed broadly higher, as blue-chips Samsung Electronics lifted the Kospi in Seoul, while in Hong Kong gains in some major companies countered a fall in Hutchison. In Taiwan, shares finished lower for the third straight session, led by cement and tourism companies.