- Elena
- 07 Aug, 2006
- New York City
AES Corp. jumped 9.4% after reporting Q2 net income almost doubled to 25 cents a share from 13 cents a share a year ago on 15% revenue growth, beating estimates. Southern Union, natural gas provider, reported Q2 earnings of 8 cents a share, down from 10 cents a share a year ago, missing estimates. McDermott International, heavy construction company, reported Q2 net income drop of 40 cents a share from 75 cents last year, below expectations.
- Elena
- 07 Aug, 2006
- New York City
U.S. equity futures were sent lower by a spike in energy prices following a shutdown of a major oil field in Alaska. Crude oil September delivery jumped 2% to $76.25 a barrel. Energy company El Paso Corp. posted $141 million Q2 profit in contrast to a loss a year ago due to a 4% rise in revenue. Company''s shares rose 2.7% in pre-market trading.
- Elena
- 07 Aug, 2006
- New York City
BP has a 26% stake in the Prudhoe Bay field, meaning its own production would be cut by 100,000 barrels a day, while 400,000 barrels a day of crude oil would be taken off the world market. BP''s shares dropped 2% on the LSE.
- Ivaylo
- 07 Aug, 2006
- New York City
Japan slumped in afternoon trading, with tech exporters including Sony and Toshiba leading the market to heavy across-the board losses after the closure of a key Alaska oil field caused crude prices to soar. All major regional indexes fell, but for Hong Kong, which rose but only just. Australia also gained.
- Ivaylo
- 07 Aug, 2006
- Frankfurt
Weaker-than-expected jobs growth in the US weighed also as the focus turned from expectations the Federal Reserve would pause its monetary tightening to worries over slowing growth. The FTSE 100 declined 1%, the Xetra Dax in Frankfurt slipped 1.5% and the CAC-40 in Paris was off 1.5%.
- Ivaylo
- 07 Aug, 2006
- Metals
December gold ended down although during the session the contract hit a high of $666 an ounce following weaker-than-expected U.S. economic data, but market participants took profits ahead of the weekend. Gold keeps failing on rallies as the increased Mideast violence has been virtually ignored.
- Elena
- 04 Aug, 2006
- Frankfurt
European markets closed notably higher on easing interest-rate concerns, following weaker-than-expected U.S. jobs data and well received corporate news from Anglo-American and Philips. The German DAX 30 surged 1.5%,the French CAC 40 rose 1.2%, and London FTSE 100 gained 0.9%.
- 123jump.com Staff
- 04 Aug, 2006
- New York City
Much awaited job reports failed to have impact on trading sentiment. Non-farm payroll in July rose by 113,000, just near the average of 112,000 reported in the first quarter of this year. However, unemployment rose to 4.8% from 4.6% in the previous month. Market averages trade lackluster and dipped in the last hour of trading. Apple Computer reported more stock options trouble. Toyota Motors earnings rose 39% on strong sales and weak yen.
- Elena
- 04 Aug, 2006
- New York City
OM Group Inn., producer and marketer of specialty chemicals, reported a Q2 profit jump of $1.80 a share from 40 cents a share a year ago, beating estimates. Ceradyne Inc, maker of ceramic body-armor plates, reported profit rise to $1.10 a share from 46 cents the year earlier, above estimates. Goodyear Tire & Rubber Co, manufacturers of tires and rubber products, reported Q2 earnings of 1 cent a share, down from a year-ago profit of 34 cents a share, missing expectations.
- Elena
- 04 Aug, 2006
- Mumbai
In a highly volatile session, the benchmark index sank in the closing hours of trading. Worries of surging global crude oil prices, increasing fears of $ 100 a barrel, weighed down on market sentiment. Reliance Energy led the gainers, with BHEL and Bajaj Auto also advancing. Reliance Industries fell on comments from Petroleum Minister.
- Elena
- 04 Aug, 2006
- New York City
The report released by the Labor Department showed that the U.S. economy added fewer than expected jobs and an unexpected increase in the unemployment rate. Non-farm payroll employment increased by 113,000 in July compared to expectations of an increase of 150,000 jobs, while the unemployment rate rose to 4.8% in July from 4.6% in June.
- Elena
- 04 Aug, 2006
- New York City
Stocks rallied after the Labor Department reported weaker-than-expected July employment growth, which raised hopes that the Fed Reserve will halt its interest rate hikes. This sent treasury yields lower and prompted a rally in the home building sector. DR Horton climbed more than 7%, Pulte Homes posted an advance of more than 5%. Even Hovnanian gained 3%, despite its profit warning.
- Elena
- 04 Aug, 2006
- New York City
The last four years mark one of the most prosperous periods in the 30-year history of the company, largely due to the growing sales of its iPod player. The company''s market value has grown by $55 billion since September 2002, with its stock price rising nearly 10-fold. The company also said it will delay filing its report for the latest quarter with the SEC. In aftermarket trading shares of Apple fell 6.6% to $65.
- Ivaylo
- 04 Aug, 2006
- New York City
Asian stock indexes were mixed Friday, as two rate hikes in Europe strenghtened concerns that rising global interest rates could curb growth and limited enthusiasm about a one-month high reached by the Dow Jones Industrial Average overnight. Investors were held back as they awaited the U.S. Federal Open Market Committee meeting next Tuesday to make out U.S. interest rate trends.
- Ivaylo
- 04 Aug, 2006
- Frankfurt
European stocks on Friday recovered some of the last session rate-hike inspired losses, with markets moving higher before the release of a key piece of U.S. economic news. News from Electricite de France, Anglo American and Philips Electronics also boosted the indexes, as well as Allianz and Swiss reinsurer Swiss Re. The German DAX Xetra 30 index rose 0.5%, the French CAC 40 index added 0.4% and the U.K. FTSE 100 index gained 0.2%.