- Ivaylo
- 13 Jul, 2006
- Metals
Gold hit its highest level in six weeks at $657 during the session, but at the close, the contract lost momentum as light profit-taking appeared and buyers were there to pick up the slack. Ongoing geopolitical issues involving Iran, India and North Korea have been the catalyst of the recent rally.
- 123jump.com Staff
- 12 Jul, 2006
- New York City
Market averages reversed the earlier course in the mid-afternoon as tech stocks declined. Analysts downgrade on IBM and Dell pushed tech heavy Nasdaq down near 2%. Apple Computer fell on analyst comments. Oil and gold gained. European markets closed higher on earnings expectations. Mexico and Brazil closed lower. India rebounded with 3% rise, one day after bombings. U.S. trade deficit in May rose to $63.8 billion, sixth largest deficit ever.
- Elena
- 12 Jul, 2006
- Frankfurt
European markets finished in the positive on hopes for strong second-quarter earnings season and gains for resource and automotive stocks. gainers were miners like Antofagasta and Vedanta Resources. A decline of the euro versus the dollar boosted automakers like DaimlerChrysler and Renault. The German DAX 30 rose 0.4%, the French CAC 40 climbed 0.6%, and London FTSE 100 edged up 0.1%.
- Elena
- 12 Jul, 2006
- New York City
Although a series of blasts shook Mumbai on Tuesday evening, Indian stock market opened strong on Wednesday, undeterred by the terror attacks, and surged 3% supported by strong Q1 results from the IT sector. Infosys rose 8% and guided upward fiscal year 2007 earnings and revenue.
- Elena
- 12 Jul, 2006
- New York City
Stocks opened near the flat line Wednesday, reflecting a government report on trade deficit and a decline for Microsoft Corp. following an unfavorable EU antitrust ruling. The Commerce Department reported the trade imbalance rose by 0.8% in May to $63.8 billion, mainly due to higher oil prices. The increase was smaller than the 2.5% rise that economists expected but still represented the sixth largest deficit in history.
- Elena
- 12 Jul, 2006
- New York City
U.S. equity futures indicated a flat opening, with tech stocks expected to come under pressure as European antitrust regulators fined Microsoft Corp. $357 million for not complying with a 2004 antitrust ruling. In earnings news, biotechnology company Genentech reported Q2 earnings that increased from last year and beat analysts'''' estimate on higher revenues, boosted by strong sales of its cancer drugs, including Avastin.
- Elena
- 12 Jul, 2006
- New York City
In addition, the EU threatened penalties of $3.82 million a day beginning July 31 unless the company supplies
- Ivaylo
- 12 Jul, 2006
- New York City
Asian markets were divided into winning and losing camps Wednesday, with gains in the Japanese yen dragging down the Nikkei Average. South Korea followed Japan lead, while Hong Kong Hang Seng Index reversed early loses to end in positive territories. Shares in Shanghai and Taiwan also settled lower.
- Ivaylo
- 12 Jul, 2006
- New York City
European markets extended its early gains by mid-morning on Wednesday after a late overnight rally on U.S. markets but high oil prices continue to weigh on investor sentiment. Corporate news flow was set to be relatively light. The U.K. FTSE 100 index gained 0.4%, the German DAX Xetra increased 0.9% and the French CAC-40 index rose 0.6%.
- Ivaylo
- 12 Jul, 2006
- Metals
Early in the trading, as gold was already making gains alongside oil while the dollar slipped against the euro, news broke that a number of blasts hit commuter rail network of Mumbai during rush hour Tuesday, killing more than 100 people. The bombing was the catalyst of the rally in gold. In addition, technical factors were also at the forefront of the rally as funds returned as buyers to the marketplace.
- 123jump.com Staff
- 11 Jul, 2006
- New York City
Earnings and techs were in limelight. Alcoa revenue miss kept market averages under check in the morning trading. In the afternoon, news on KLA-Tencor supported a reversal in tech stocks led by a sharp gain in semiconductor stocks. Oil rose. Gold jumped $17 on the news of seven bomb blasts in Mumbai, India. European stocks closed lower, on the weakness in tech stocks. Mexico declined 0.6% but Brazil and Argentina gained.
- Elena
- 11 Jul, 2006
- Frankfurt
European markets finished steeply down, reflecting an advance in oil prices and weakness in the technology sector. Sales warning from Lucent Technologies dragged French telecom equipment maker Alcatel, down 5.9% and its peer Ericsson, down 3.4%. Automakers like Renault and Volkswagen moved lower on rising crude oil. The German DAX 30 tumbled 1.6%, the French CAC 40 slipped 1.4%, and London FTSE 100 lost 0.7%.
- Elena
- 11 Jul, 2006
- New York City
Seven blasts occurred within 15 minutes of each other and reportedly killed up to 100 people and more than 250 were injured. Following reports of the blasts, U.S.-listed stocks of Indian companies tumbled, led by carmaker Tata Motors, down 5.2% at $16.09. The rupee was down 0.3% against the dollar.
- Elena
- 11 Jul, 2006
- New York City
Stocks kept trading in the negative due to a disappointing revenue report by economy bellwether Alcoa and a profit warning by Lucent Technologies. Shares of Alcoa fell 4.8% on the NYSE, while Lucent declined 4.3%. On a positive note, Pepsi Bottling Group rose 4.3% after posting higher-than-expected Q2 profit and raising its 2006 outlook.
- Elena
- 11 Jul, 2006
- Mumbai
The Sensex experienced weak session as it traded in the red for most part of the day. Auto and steel sector witnessed intense selling pressure, as investors took profit, while cement stocks bucked the downtrend and finished higher on the expectations of firm prices.Volatility was high, the turnover was slightly higher than yesterday