- Elena
- 21 Jun, 2006
- New York City
Stocks traded higher, boosted by strong earnings. Morgan Stanley rose $2.95, or 5.2%, to $59.97 after its Q2 profits jumped on record revenue, exceeding analyst expectations. FedEx Corp. rose $4.33, or 4%, to $112.65, after it reported a 27% jump in Q4 earnings, citing solid economic growth. Darden Restaurants rose $1.98 to $37.54 after reporting strong Q4 profit and same-store sales.
- Elena
- 21 Jun, 2006
- Mumbai
The market rallied today supported by strong buying momentum for large-cap stocks in a highly volatile trading. Aggressive buying continued throughout the session, with a strong market-breadth. Volatility was high, as investors rushed to buy stocks. Generic drug maker Dr Reddy
- Elena
- 21 Jun, 2006
- New York City
FedEx reported Q4 earnings of $1.82 per share on $8.49 billion in revenue, up from $1.46 per share on $7.72 billion in revenue a year ago. Analysts had expected the company to earn $1.77 per share on $8.42 billion in revenue. The company projected earnings of $1.45 to $1.60 per share in Q1 and $6.45 to $6.80 per share in the full year.
- Elena
- 21 Jun, 2006
- New York City
Morgan Stanley Inc. reported that Q2 profit more than doubled on record revenue driven by stronger underwriting, merger and acquisition, and trading results. Net income rose to $1.86 per share from 86 cents per share a year earlier, beating estimates of $1.45 a share. Fashion retailer Hennes & Mauritz AB posted a 12% increase in Q2 profit, helped by a spike in May sales.
- Elena
- 21 Jun, 2006
- New York City
Japan agreed to resume U.S. beef imports on the condition that no further problems during onsite inspections would occur. Officials from Japan''s health and agriculture ministries will inspect 35 meatpacking plants certified to ship beef to Japan to see if they are complying with export requirements.
- Ivaylo
- 21 Jun, 2006
- New York City
A survey posted Wednesday morning by Japan''''s Finance Ministry showed that large Japanese companies were less bullish about the economy in April-June than in the previous quarter. Hong Kong''''s Hang Seng Index finished the day up, but the market did not have any direction and traders were waiting for interest rate news from the U.S.
- Ivaylo
- 21 Jun, 2006
- Frankfurt
European shares edged down on Wednesday, with gains held in check by interest-rate tightening concerns on both sides of the Atlantic. In Europe, ECB President Jean-Claude Trichet testified before the European parliament that risks to price stability prevail and that oil price pass-though will lift consumer prices in 2007. The European economy is, however, evolving in line with the central bank''s assessment, he added.
- Ivaylo
- 21 Jun, 2006
- Metals
It seems that a number of market participants have begun to view the $570 level as a value area for gold. Investors believe that a consolidation phase through mid-August is possible, which is traditionally the case. Nevertheless, the market is closely observing economic and political events, which could precipitate a big move sooner.
- 123jump.com Staff
- 20 Jun, 2006
- New York City
Market advanced on housing report. Steep decline in housing market is what investors are worried about, however housing report indicated a slow and steady decline in the housing market. Housing starts in May rose 5% after falling 5.4% in April. Building permits fell 2.1%. Housing stocks however did not rally after the report. Stocks now trade near eighteen-month low. Oil dropped and gold rose. Markets in Asia fell, led by a 3% declie in Taiwan. European markets gained. Mexico rose 1.3%.
- 123jump.com Staff
- 20 Jun, 2006
- New York City
Market averages remain in the positive zone on new home starts and building permit report for the month of May. New home starts in May rose 5% but building permits fell 2.1%. Oil gained. Home builder stocks declined to eighteen-month low on the report. Lennar, Horton, Hovnanian,Toll Bros and Beazer dropped on the news. Several of these stocks are no trading near book value.
- Elena
- 20 Jun, 2006
- Frankfurt
European markets gained Tuesday, boosted by strength in metals stocks and positive U.S. market opening on better-than-anticipated housing starts data. Among resource stocks, miner BHP Billiton and Rio Tinto were the biggest gainers together with Steelmaker Mittal Steel, which rose 1.9%. The German DAX 30 surged 1%, the French CAC 40 rose 0.9%, and London FTSE 100 gained 0.6%.
- Elena
- 20 Jun, 2006
- New York City
The letter, published in the Financial Times, said the $16 billion agreed merger of Severstal and Arcelor would give Severstal-owner Alexei Mordashov control over the new company. Arcelor said it would cancel its deal with Severstal if shareholders representing 50% of the capital voted against the tie-up. Mittal rose 0.9% in Amsterdam, while Arcelor advanced 0.9% in Paris.
- Elena
- 20 Jun, 2006
- Mumbai
The Sensex in India fell Tuesday breaking three days of gain in a row. Weakness in markets across the region sparked profit-taking in a highly volatile session. Small and mid-cap stocks rallied but broader averages declined with metal, auto and cement stocks were among the biggest decliners.
- Elena
- 20 Jun, 2006
- New York City
New housing construction rose at a seasonally adjusted annual rate of 1.957 million units in May from a revised rate of 1.863 million units in April. Economists had expected housing starts to rise to a 1.870 million unit rate. The report also showed that building permits fell 2.1% to a seasonally adjusted annual rate of 1.932 million units from an unrevised 1.973 million unit rate in April.
- Ivaylo
- 20 Jun, 2006
- New York City
Japanese stocks closed lower for a second day running as technology, financial and real-estate issues declined, ahead of U.S. Federal Reserve likely rise of interest rates at its Jun 28-29 meeting. Investors chose to stay on the sidelines until a clearer perspective emerges for the U.S. economy.Elsewhere in the region, other indexes also followed Japan downward.