- Ivaylo
- 09 Aug, 2006
- Metals
Many precious metals were noot expected more than a short-term and possibly subdued reaction from gold once the Fed decision was made public. Factors such as the conflict between Israel and Hezbollah, the developing civil war in Iraq, the absolute intractability of Iran, and the prospects of $4 per gallon gasoline being just around the corner are certainly posing more of a challenge to asset allocators than what may well be the last in a series of interest rate hikes.
- 123jump.com Staff
- 08 Aug, 2006
- New York City
As market reached close Dow lost 58.91 points, Nasdaq was down 13.35, and S&P declined 5.51. Stocks fell after the Federal Reserve left interest rates unchanged. This is the first pause in more than two years. Direct TV reported Q2 earnings of 36 cents a share, almost tripling, compared to 12 cents a share a year ago. Clear Channel posted Q2 earnings of 39 cents a share compared to year-ago earnings of 40 cents a share. Oil declined 67 cents to close at $76.31.
- Elena
- 08 Aug, 2006
- Frankfurt
European markets closed mixed in a light trading session ahead of U.S. Fed Reserve
- Elena
- 08 Aug, 2006
- New York City
Jack in the Box rose 7.7% after reporting Q3 net income climbed to 77 cents a share from 66 cents a share on higher revenue, beating estimates. Reynolds & Reynolds jumped 11% after it agreed to be acquired by privately Universal Computer Systems Inc. for $2.8 billion. Aleris surged 28% as it agreed to be bought by private equity firm Texas Pacific Group for $1.7 billion in cash plus the assumption of $1.6 billion of debt.
- Elena
- 08 Aug, 2006
- Mumbai
The Indian index settled above the psychological 11,000 level for the first time in three months on strong buying in large-cap. Reliance Indsutries, banking stocks and IT stocks led the Sensex jump of over 200 points. Strong Asian markets also gave the market a boost. Tyre shares were in focus aslo, as natural rubber prices dropped in domestic and international markets. The rally was spread evenly over small-cap and mid-cap stocks, resulting in a strong market-breath.
- Elena
- 08 Aug, 2006
- New York City
U.S. stocks opened higher on optimism the Fed Reserve will keep its key interest rate steady at 5.25%. In earnings news, Sara Lee Corp, consumer products company, reported it swung to fiscal Q4 net income of 1 cent a share from a year-ago loss of 19 cents. Contact lens maker Bausch & Lomb said it will delay filing its Q2 earnings report and warned that its full-year profits could fall well below estimates.
- Elena
- 08 Aug, 2006
- New York City
U.S. stock futures gained on expectations the Fed Reserve will hault its run of interest-rate hikes. However, a report showing unit labor costs increased more than expected in Q2 helped limit early gains. In earnings news, Polo Ralph Lauren reported Q1 net income rose to 74 cents a share from 48 cents a share in the year-ago period.
- Elena
- 08 Aug, 2006
- New York City
The deal is expected to be completed early next year. Under the terms of agreement Aleris stockholders will receive $52.50 for each common share, a premium of nearly 27% to Aleris''s Monday closing price of $41.39.
- Ivaylo
- 08 Aug, 2006
- New York City
Japan dropped more than 2% Monday on concerns over rising oil prices and uncertainty about the direction of U.S. interest rates.But markets have already discounted the oil price and even $80 a barrel would be tolerable to the region. Japanese stocks also got a boost from government data released Tuesday showing that bank lending grew at the fastest rate in at least five years. Hong Kong also gained as telecom, property and energy shares all put in a strong showing.
- Ivaylo
- 08 Aug, 2006
- Frankfurt
US oil declined slightly and ICE Brent slid from a new record-high as traders booked profits. Oil had jumped 3% after BP started to shut down Prudhoe Bay oilfield in Alaska, the biggest in the United States, possibly for months. The FTSE 100 in London was 0.2% higher, the Xetra Dax in Frankfurt nudged up 0.8% and the CAC-40 in Paris advanced 0.5%.
- Ivaylo
- 08 Aug, 2006
- Metals
If the Fed pauses in its rate-raising program on Tuesday, that would cause gold prices to advance in the short-term. Hiking interest rates curbs inflation, and gold is regarded as a hedge against inflation. Silver and copper fell, while platinum and palladium and crude oil futures settled higher on the day.
- 123jump.com Staff
- 07 Aug, 2006
- New York City
As market reached close Dow lost 20.49 points, Nasdaq was down 13.14, and S&P declined 3.31. Inflation worries due to record level oil prices prompted moderate declines in the market. El Paso Corp reported Q2 earnings of 21 cents a share after paying dividends compared to a year ago loss of 38 cents a share. AES Corp posted Q2 earnings of 25 cents a share compared to year ago earnings of 13 cents a share. Oil gained $2.22 to close at $76.98.
- Elena
- 07 Aug, 2006
- Frankfurt
European markets finished steeply lower Monday, reflecting a spike in oil prices and concerns over the U.S. Fed Reserve
- Elena
- 07 Aug, 2006
- New York City
Climbing oil prices weighed on market sentiment in morning trading session, pushing the stocks lower. Yet, energy shares advanced on expectations to benefit from the higher prices. Hess Corp. gained 0.6%, while Chevron Corp. climbed 0.65%. Shares of BP lost 1.8% on the Prudhoe Bay shutdown.
- Elena
- 07 Aug, 2006
- Mumbai
The Indian Sensex closed in the red for the second consecutive session in a volatile trading, characterised by record-low volumes, as investors showed a lack of interest, ahead of the meeting on Wednesday by Federal Reserve bankers to consider interest rates. ICICI Bank and BHEL led the gainers, while Hero Honda ed the decliner.