- Elena
- 15 Aug, 2006
- New York City
Stocks continued to trade higher on benign inflation report. Among computer hardware stocks, Dell rose 3% after the company announced the recall of 4.1 million notebook computers to replace batteries made by Sony because of a risk of fire. Shares of Home Depot added 2% on strong earnings, while Wal-Mart lost 2% after the retailer posted its first profit decline in a decade.
- Elena
- 15 Aug, 2006
- New York City
Stocks rallied at opening as weaker-than-expected July PPI renewed hopes the Fed Reserve will not raise interest rates in the short term. The Labor Department said prices at the wholesale level edged up by 0.1% in July, the smallest amount in five months as falling food prices helped offset higher energy costs.
- Elena
- 15 Aug, 2006
- New York City
Stock futures were mixed on mixed profit reports from retail giants and cautiousness ahead of inflation data. Wal-Mart Stores posted its first profit decline in a decade, with Q2 earnings falling 26% to 50 cents per share from 67 cents a year ago due to a hefty $863 million charge related to the sale of its German stores. The Home Depot reported a 5.3% jump in Q2 earnings to 90 cents a share, up from 82 cents a share a year ago on 16.7% revenue growth.
- Elena
- 15 Aug, 2006
- New York City
After a year-long bidding war with Inco Ltd., Xstrata said it succeeded in taking control of Falconbridge. In accordance with its plans, Xstrata extended its revised all-cash C$62.50 a share offer until Aug. 25 to ensure full control of Falconbridge after its shareholders approved the tie-up on Monday.
- Ivaylo
- 15 Aug, 2006
- New York City
Low volumes assited price volatility in Japan, where relatively flat indexes concealed large stock moves. Honk Kong also fell, as trading was muted due to investors awaiting U.S. inflation data, due later this week. South Korean markets were closed for the Independence Day holiday. Australian markets also decline. The Shanghai Composite in China was the only gainer.
- Ivaylo
- 15 Aug, 2006
- Frankfurt
Profit taking was the reason behind the falls after the strong session on Monday. The high-flying miners and engineers which supply machinery and services to them, were the worst hit by profit taking. Drugs stocks offered the market some support.The FTSE 100 in London fell 0.3%, while Xetra Dax in Frankfurt fell 0.3%, while in Paris, the CAC 40 shed 0.1%.
- Ivaylo
- 15 Aug, 2006
- Metals
Gold futures ended near a three-week low on Monday, following a steep decline in crude prices as an Israeli-Hezbollah cease-fire came into effect and the British government downgraded its terror threat.With Iraq, though, still on the verge of civil war, and Iran and North Korea nuclear policies a cause for concern, geo-political tensions are still extremely highand might bring about a gold rally.
- 123jump.com Staff
- 14 Aug, 2006
- New York City
Market averages lost early momentum as fresh questions arose on the durability of the recently brokered cease-fire in the Middle East. Oil and gold dropped, sparking a broad rally in the early hours of trading. As trading progressed investors worried about the inflation report on Tuesday. In Tokyo, Japan power cut halted trading for several hours but market closed 1.9% higher. Major European markets closed higher.
- Elena
- 14 Aug, 2006
- New York City
European markets finished steeply in the positive, reflecting a significant decline by the price of oil and reduced measures at U.K. airports. Among leading gainers were airline stocks which recovered on the news of the day. British Airways advanced 1.9%, while Lufthansa rose 2%. The French CAC 40 climbed 1.2%, the German DAX 30 rose 1.1%, and London FTSE 100 gained 0.9%.
- Elena
- 14 Aug, 2006
- New York City
Market averages rallied Monday morning. The Dow was helped by heavy equipment maker Caterpillar which rose 1.7%, jet maker Boeing which was up 1.3% and diversified manufacturer United Technologies, up 1.5%. Financial stocks also showed significant strength, with Schwab Corp. rising 1.7% and Ameritrade, up 1.9%. Shares of Whole Foods Market jumped 6% on news the stock was undervalued and poised to improve.
- Elena
- 14 Aug, 2006
- Mumbai
The benchmark index ended the day in a positive territory supported by a drop in oil prices as well as by strong European and Asian markets. Refinery stocks, some auto shares and the metal sector surged. Bajaj Auto led the gainers while Reliance Industries also advanced, together with ONGC and Infosys.
- Elena
- 14 Aug, 2006
- New York City
Stocks moved sharply higher at opening as Wall Street welcomed news of a cease-fire between Israel and Lebanon and a significant decline by oil prices. Lower oil prices contributed to significant strength among airline and other transportation stocks. Ford Motor gained 2.9% after Bear Sterns raised its rating on the stock to outperform from underperform, while General Motors lost almost 1% on downgrade from outperform to peer perform.
- Elena
- 14 Aug, 2006
- New York City
Among companies, reporting earnings today, The Valspar Corp., coatings specialist, reported Q3 net income rose to 51 cents a share from 44 cents a share a year ago, beating estimates. Dillard''s Inc., department store operator, reversed to Q2 profit of 20 cents a share, up from 15 cents a share loss in the year-ago period.
- Elena
- 14 Aug, 2006
- New York City
Light sweet crude for September delivery fell 92 cents to $73.43 a barrel on the Nymex. Natural gas futures fel 25 cents to $7.018 per 1,000 cubic feet. Gasoline futures dropped almost 4 cents to $2.0270 a gallon, and heating oil futures fell slightly to 2.0254 a gallon.
- Ivaylo
- 14 Aug, 2006
- New York City
Japanese stocks gained Monday as clothing chain operator Fast Retailing and tire-maker Bridgestone pushed the market higher. Morning blackouts in Tokyo led to a shutdown of the Nikkei stock index but failed to dampen sentiment. Hong Kong and South Korea also finished higher. The Shanghai Composite bucked the trend and ended lower.