- Elena
- 10 Aug, 2006
- Mumbai
The market, which was firm in the first half of Thursday''s session, slipped lower, tracking weak global indices. The benchmark index ended almost flat after witnessing intense volatility throughout the day. Tea plantation shares soared today, boosted by reports of a surge in tea exports in June 2006. Cement stocks witnessed renewed buying. HDFC and Hindalco were the top gainers, while decliners included Bajaj Auto and Ranbaxy.
- Elena
- 10 Aug, 2006
- New York City
The Department of Commerce reported that the trade deficit narrowed to $64.8 billion in June from a revised $65.0 billion in May as an increase in exports outpaced an increase in imports. Economists had expected the deficit to widen to $64.5 billion. In another report, the Department of Labor said that jobless claims rose above analyst estimates to 319,000 from the previous week''s revised figure of 312,000.
- Elena
- 10 Aug, 2006
- New York City
U.S. stocks futures dropped Thursday, following reports of a terrorist plot to blow up aircraft in flight between Britain and the U.S. Shares of airlines slipped on the news, with Continental Airlines falling 3.1%. Insurance giant American International Group reported Q2 profit dropped 29% to $1.21 per share, down from $1.71 a year ago.
- Elena
- 10 Aug, 2006
- New York City
Shares of U.S. airline companies trading in Europe tumbled. American Airlines parent AMR Corp. fell 12.8% to 17.68 euros. Shares of UAL Corp., the parent of United Airlines, fell more than 4% to 18.32 euros. British Airways PLC made the steepest decline among European airlines, falling 3.9%.
- Ivaylo
- 10 Aug, 2006
- New York City
Selling pressure in Japan was eased somewhat by corporate-goods-pricing data out in the morning, indicating a larger-than-expected year-on-year rise of 3.4%.The figures point to strong demand and robust corporate activity. The markets in Hong Kong and South Korea also sank. Shanghai Composite was the only index to buck the downtrend.
- Ivaylo
- 10 Aug, 2006
- Frankfurt
Britain lifted its security threat level which means it anticipates an attack imminently. Strength in the euro and a late sell-off on U.S. markets as the price of oil climbed also weighed on European stocks. The FTSE 100 in London dipped 1.4%, the Xetra Dax sank 2.1% and the CAC-40 fell 1.5%.
- Ivaylo
- 10 Aug, 2006
- Metals
The strike at Escondida looks set to continue indefinitely as workers broke off contract talks with mine management on Wednesday. Copper is on track to test its highs reached in May around the $4 level. Gold futures settled higher Wednesday in New York amid a weak U.S. dollar.
- 123jump.com Staff
- 09 Aug, 2006
- New York City
As market reached close Dow lost 87.25 points, Nasdaq was up 0.78, and S&P declined 4.39. Indexes lost points due to volatile oil prices and worries over Feds raising interest rates again. Nasdaq, the only gainer in late afternoon trading, was bolstered by decent earnings from Cisco and Walt Disney. Cisco reported earnings of 25 cents a share compared to 24 cents a year ago. Disney reported Q3 earnings of 53 cents a share compared to 39 a year earlier. Oil gained 4 cents to close at $76.35.
- Elena
- 09 Aug, 2006
- Frankfurt
European markets finished steeply higher, boosted by gains on Wall Street, as well as strength in the technology and automotive sectors. French telecom-equipment maker Alcatel rose 2.8%, and automaker Volkswagen gained 3.2% to help market higher. The French CAC 40 led European gainers, climbing 1.2%, followed by the German DAX 30, up 0.9%, and London FTSE 100, up 0.7%.
- Elena
- 09 Aug, 2006
- New York City
Oil prices jumped 59 cents to $76.90 a barrel after the Energy Department reported a 1.1 million-barrel decline in crude oil inventories and a week-over-week decline of 3.2 million barrels in gasoline stockpiles, exacerbating supply concerns after the shutdown of an oilfield in Alaska.
- Elena
- 09 Aug, 2006
- Mumbai
Concerns of increase in domestic interest rates lessened after the Fed move. It is likely that the Fed decision to keep US interest rates steady, may discourage Reserve Bank of India from hiking the interest rates further in the near term. Bank shares jumped, following the Fed move. Auto, IT, metal and pharma stocks advanced.
- Elena
- 09 Aug, 2006
- New York City
Stock markets opened higher, led by technology stocks, with Cisco moving 12.7% higher after the technology bellwether reported better-than-expected Q4 earnings and provided upbeat guidance. Housing stocks came under pressure after luxury homebuilder Toll Brothers announced preliminary Q3 results, reporting a decline in home building revenues due to lower unit volumes.
- Elena
- 09 Aug, 2006
- New York City
Stock futures jumped after network equipment maker Cisco Systems rose 9.4% on stronger-than-expected quarterly results and positive outlook. Media conglomerate Disney beat estimates reporting net income growth of 53 cents per share, compared with 39 cents last year due to improved sales and one-time gain related to its acquisition of Pixar Animation Studios.
- Ivaylo
- 09 Aug, 2006
- New York City
The Japanese government said mid-day Wednesday that core private-sector machinery orders rose 8.5% in June compared to May, and 17.7% on year, indicating that the industrial part of the economy is in very good health, particularly the export side of the economy. Hong Kong rallied late, as market large-cap China Mobile advanced. In South Korea, the Kospi index finished also higher.
- Ivaylo
- 09 Aug, 2006
- Frankfurt
The Fed held rates for the first time in two years at 5.25%, but left the door open for further rises saying it still saw risks from inflation. U.S. markets reacted negatively to the Federal Reserve