- 123jump.com Staff
- 08 Nov, 2006
- New York City
Wall Street was affected by the shift in political landscape in washington. President acknowledging the election results accepted the resignation of Rumsfeld, a controversial figure. Ethanol stocks rose on higher subsidy expectations. New York Stock Exchange to fire 17% and considers closing the floor in New York. Cisco reported 30% rise in earnings to 26 cents from 20 cents a year ago.
- Elena
- 08 Nov, 2006
- New York City
European stock markets finished down, reflecting cautious trading amid the election victory of the U.S. Democrats. Drug stocks were among the biggest losers on fears that if the Democrats win both the House and the Senate, they might enforce lower drug prices. AstraZeneca slipped 2%, GlaxoSmithKline dropped 1.6%, Novartis fell 1%, while Roche lost 0.5%. The German DAX 30 fell 0.2%, London FTSE lost 0.1%, while the French CAC 40 was flat at 5,437.10.
- Elena
- 08 Nov, 2006
- New York City
Worries about the impact of the U.S. election results, kept stocks under pressure in morning trading. Drug stocks Merck and Pfizer were the biggest drags on the S&P 500, falling 3.3% and 1.9% respectively. Health insurance stocks moved lower, led by Molina Healthcare, falling 8.3% after the company reaffirmed full-year outlook below estimates.
- Elena
- 08 Nov, 2006
- New York City
The plunge was attributed to the emergence of selling by funds as well as retail investors in large-cap stocks at higher levels. The market, extremely volatile in the late-afternoon trade, managed to bounce back in the final hour of trading, still ending lower. ICICI Bank, Infosys and Wipro led the advance, while Reliance Industries and Hero Honda led the decliners with Bajaj Auto and Tata Motors losing ground as well.
- Elena
- 08 Nov, 2006
- New York City
Federated Department Stores posted $3 million profit loss in Q3 due to costs related to its acquisition of May Department Stores. The loss amounted to a penny per share vs. a profit of 90 cents per share last year, missing analyst estimates of 25 cents per share. Cablevision Systems reported a narrower Q3 loss on increased number of customers. The company posted a loss of 21 cents per share, vs. a loss of 22 cents per share a year ago, lower than the expected loss of 14 cents.
- Ivaylo
- 08 Nov, 2001
- New York City
A gloomy mining sector and likely losses on US markets in early deals are preventing any recovery in London despite big gains at Scottish Power after the company confirmed it is in bid talks. Other UK utilities also benefited from the positive sentiment generated by the bid. Miners fell on sagging metal prices, with BHP Billiton and Rio Tinto leading the decline. Standard Life slipped on below par sales figures. The FTSE 100 lost 0.42% and is at 6,218 in mid-afternoon session.
- Ivaylo
- 08 Nov, 2006
- New York City
Domestic stocks in Tokyo fell following comments on Tuesday that the the central bank may lift the rates again after it raised a key interest rate in July for the first time in six years, lifting it to 0.25% from virtually zero. Investors in Japan were also cautious as they eyed U.S. Congressional election results. Hong Kong shares tumbled, breaking a six-session rally, on rumors that telecom giant China Mobile plans to sell shares. New Zealand bucked the trend, endind at record closing high.
- Ivaylo
- 08 Nov, 2001
- New York City
European shares retreated slightly in early trading on Wednesday, as investors were cautious after an inconclusive U.S. election result and some mixed third-quarter figures from companies such as EADS and Total. Oil companies were also under the spotlight because of the U.S. election. By mid morning, the FTSE 100 in London lost 0.3%, Frankfurt Xetra Dax shed 0.4%, and the CAC 40 in Paris was down 0.4%.
- Ivaylo
- 08 Nov, 2006
- New York City
During the trading session the contract did not move far from the unchanged level as it traded in a tight range of $626.20 to $631.20 an ounce, with traders noting a tone of cautiousness on Election Day. Political experts expect the Democrats to regain control of the House in Congressional elections. They say that a democratic win in Congress would likely be negative for the dollar and bullish for gold.
- 123jump.com Staff
- 07 Nov, 2001
- New York City
Market maintained upward surge right at the opening. Expected shift in the U.S. Congress in favor of Democratic party raised the prospects of gridlock in decision making. Status quo seems to be preferred by investors. Boeing jumped 5% on the order of $3.6 billion for air freighters from FedEx. Emerson gained 7% on earnings. Dow Jones Industrial Average is up 14% for the year. Only Merck, Intel and AIG are lagging in the index. Home builders Toll and Beazer net fell.
- Elena
- 07 Nov, 2006
- New York City
European stock markets finished higher, as oil prices surpassed $60 a barrel and gains in the retail sector countered weakness among media stocks. The French CAC 40 led regional gainers, closing up 0.55%, supported by oil giant Total. The German DAX 30 added 0.17%, supported by shares in apparel maker Puma. London FTSE 100 closed up 0.06%, helped by 6.3% rise by shares of retailer Mark & Spencer.
- Elena
- 07 Nov, 2006
- New York City
U.S. stocks sharply jumped, with the Dow Jones Industrial Average hitting a new all-time high and the Nasdaq rising to a six-year peak. The broad rally was contributed by optimism over corporate earnings and the health of the economy which offset concerns about the outcome of the congressional elections. Cisco supported the Nasdaq, rising 1.26% as brokerage UBS raised its price target for the stock.
- Elena
- 07 Nov, 2006
- New York City
Volatility put an end to four straight sessions of market gains. Profit-taking in the latter part of trading in select large-caps, such as Reliance Industries, ICICI Bank and Bharti Airtel forced the benchmark index lower. Gujarat Ambuja led the advancers, while Hero Honda and Bajaj Auto declined the most. The government is likely to cut petrol and diesel prices. Finance Minister confirmed the economy will continue to grow at more than 8% annually.
- Elena
- 07 Nov, 2006
- New York City
Stocks advanced modestly at opening, as traders awaited the outcome of mid-term congressional elections that could be favorable for the Democrats. Toyota Motor provided a boost in early trading after reporting quarterly profit up 34%. Applied Materials helped tech stocks up after Bank of America raised its price target on the chip maker. The stock rose 1.85%.