- Ivaylo
- 15 Dec, 2006
- New York City
London market hit a new five year high on Friday afternoon, as upbeat crude prices lifted oil stocks and shares in BAE Systems advanced supported by reports of the failure of an inquiry into allegations of corruption within key Saudi arms contracts. Tobacco stocks were in the limelight in the wake of the agreement by Gallaher to be acquired by Japanese Tobacco in a long-awaited deal. In mid-afternoon, the FTSE 100 benchmark index traded 0.5% higher to 6,261.6.
- Elena
- 15 Dec, 2006
- New York City
Stock futures advanced Friday, lifted by tame report on consumer inflation which helped ease concerns of further interest-rate spikes. The Labor Department reported that consumer prices were flat in November, even better than the increase of 0.2% analysts had been expecting. Prices fell in the three consecutive months because of sharply lower gasoline and other energy costs.
- Elena
- 15 Dec, 2006
- New York City
The purchase would also boost Japan Tobacco''s share of the European tobacco market to 23% from 10%. JT''s global market share would increase by 3.1% to about 11%. If the transaction completes, this will be the largest-ever corporate acquisition by a Japanese company. The takeover bid exceeds Softbank Corp.''s buyout of Vodafone Group PLC''s Japanese mobile-phone operations for $15.6 billion.
- Ivaylo
- 15 Dec, 2006
- New York City
The all-important tankan survey in the past three months in Japan buoyed investors in Japan which led Friday Asian stocks higher. The survey of business sentiment showed that both large and small business were upbeat about business conditions. Hong Kong shares were boosted after the strong close in New York overnight, while In South Korea, stocks ended slightly higher led by Posco and Kookmin Bank. All the other major indexes also advanced on Friday.
- Ivaylo
- 15 Dec, 2006
- New York City
The market reaction to Eurozone inflation data was not worthy of notice as the upward revision of headline CPI was 1.9%, slightly lower than the targeted 2% of ECB. German companies have been upping prices in advance of the rise in VAT in January. Investors expected takeovers and earnings growth to continue to buoy markets. The FTSE 100 opened 0.3% higher, while the German Xetra Dax added 0.4% and the French CAC 40 rose 0.5%.
- Ivaylo
- 15 Dec, 2006
- New York City
The earlier strength in gold futures overlapped with a 1.9% reduction in production agreed upon by OPEC. Gold prices were aided by worries about increasing energy prices Thursday. Oil rallied to a two-week closing high after the OPEC announced it would reduce production by 500,000 barrels per day, starting on Feb. 1, 2007 aiming at balancing supply and demand. The same strategy is not applicable to the gold, as it immediate price prospects continue to depend on the dollar.
- 123jump.com Staff
- 14 Dec, 2001
- New York City
Market averages closed higher on better than expected earnings from companies, improved forecast from Advanced Micro. Tech sector heavy Nasdaq rose 1% on sharp gains in semi conductor stocks. AMD gained 13% on improved sales forecast. Lehman Bros and Bear Stearns reported better than expected earnings matching similar gains at Goldman Sachs. Bear Stearns rose 2.6% but Lehman fell on the report. Costco reported 51 cents in earings and Ciena reported its first quarterly profit in five years.
- Elena
- 14 Dec, 2006
- New York City
European stocks closed in the positive territory Thursday, lifted by strength in the mining sector and gains in the financial sectior. HBOS shares rose 1.6% in London after the group said it expects underlying 2006 profit to beat market expectations. Miners such as Xstrata, Rio Tinto, BHP Billiton sharply rose on higher metals prices. The U.K. FTSE 100 index closed up 0.6%. Germany''s DAX 30 rose 0.5%. The French CAC-40 also climbed 0.6%.
- Elena
- 14 Dec, 2006
- New York City
U.S. stocks rallied in late morning trading, boosted by better-than-expected earnings results. The Nasdaq jumped more than 1%, driven higher by Costco, Ciena, and Adobe. Costco Wholesale helped the Nasdaq up with a gain of 2.8% after it posted earnings above forecasts. Ciena jumped 8% as it swung to a Q4 profit on sharply higher revenue, beating estimates. Adobe Systems gained 1.9%.
- Elena
- 14 Dec, 2006
- New York City
After the recovery on Wednesday, the Sensex surged even stronger today on heavy buying in from small to large cap stocks. Bank stocks managed to rebound led by ICICI Bank. Reliance Industries, Satyam, NTPC, Cipla were the other big gainers. Of the Sensex stocks only Hero Honda and Tata Steel declined.
- Elena
- 14 Dec, 2006
- New York City
Stock markets advanced at opening, lifted by record profits in the financial sector. Bear Stearns reported record-high financial results in Q4, helped by robust capital markets and investment banking activity. The company posted 38% profit rise to $4 per share, up from $2.90 per share, a year earlier. Lehman Brothers said Q4 profit rose 22% to $1.72 per share, compared with profit of $1.38 per share a year ago, beating estimates.
- Ivaylo
- 14 Dec, 2006
- New York City
Miners led the FTSE 100 as some traders decided that the recent sell-off had gone too far. Antofagasta and Xstrata led the advancers. Banking company HBOS published a bullish trading statement, noting that its performance in the year to December is expected to exceed market expectations for underlying earnings per share. British Airways Plc surged after rival Qantas Airways Ltd. accepted an improved buyout. By late morning, the FTSE 100 gained 12.6 points, or 0.2%.
- Elena
- 14 Dec, 2006
- New York City
U.S. stock futures turned mixed Thursday as strong earnings from brokerage giants Bear Stearns and Lehman Brothers eased concerns over an expected cut in oil output by the OPEC. Bear Stearns reported record-high financial results in Q4, helped by robust capital markets and investment banking activity. Investment bank Lehman Brothers said Q4 profit rose 22% on strong underwriting fees and improved performance in its capital markets business.
- Ivaylo
- 14 Dec, 2006
- New York City
Asian markets surged Thursday, with China striking a record high due to intensified trade talks with U.S., and Australian stocks gained in the wake of Qantas acceptance of an improved takeover bid. In Japan stocks hit a seven-month high due to the recent weakness of the yen prompting investors to buy shares of auto makers and other exporters. South Korean shares added on large-cap technology, bank and automobile issues and HK advanced on telecoms.
- Ivaylo
- 14 Dec, 2006
- New York City
European stocks gained on speculation companies are increasing earnings even as the world economy slows. HBOS advanced the most in two months after the biggest mortgage lender in Britain announced 2006 earnings will beat estimates. Rio Tinto Group and Xstrata Plc led the rally in mining shares after Cazenove stated metals demand remains strong. By mid morning, FTSE 100 in London climbed 0.3%, Frankfurt Xetra Dax gained 0.2%, and the CAC 40 in Paris added 0.4%.