- Ivaylo
- 01 Jun, 2006
- New York City
Dropping commodity prices also hurt mining stocks. The London-listed miners headed the list of dropping stocks, as copper prices declined in early trade. Oil companies however, provided some respite as crude prices remained steady ahead of a meeting of Opec oil ministers in Caracas later in the session. London
- 123jump.com Staff
- 31 May, 2006
- New York City
Market averages rebounded after declining for most of the last week and yesterday. Decline in oil and precious metals prices helped investors to step-in. Stocks in Europe staged a mild rebound, rising 1% across the region at close. Latin American averages closed higher on the release of Brazil Q1 GDP growth of 3.4% beating the estimates of 2.7%. FOMC meeting minutes showed policymakers grappling with the rate hike decision.
- Elena
- 31 May, 2006
- Frankfurt
European stocks finished sharply higher, boosted by telecom and other defense stocks. Deutsche Telekom gained 2.6%, Telecom France rose 4.2%, and U.K. Vodafone Group closed up 2.7%. Utilities stocks were also strong, benefiting in part from U.S. utility NRG Energy, which rejected an $8 billion bid from rival Mirant Corp. The German DAX 30 climbed 1.3%, the French CAC 40 gained 0.7%, and London FTSE 100 rose 1.3%.
- Elena
- 31 May, 2006
- New York City
Stock markets traded higher, supported by retreating oil prices. In merger-and-acquisition news, ADC Telecommunications dropped 19% after it agreed to acquire fellow equipment maker Andrew Corp. in a $2 billion stock swap worth $12.76 per share. ADC also posted a 32% drop in quarterly earnings.
- Elena
- 31 May, 2006
- Mumbai
Following a global decline the Sensex opened lower only to experience a morning session of high volatility and a sharp decline of 7% of 675 points. In the afternoon, the benchmark regained lost ground to finish only 3.60% lower. Among the factors involved are global markets weakness, lower base metal prices and falling auto, banking and cement shares.
- Elena
- 31 May, 2006
- New York City
Stocks moved higher at opening, helped by bargain hunting. Trading was subdued as investors awaited the release of the FOMC meeting minutes, expected to give a clue about further interest-rate hikes. In earnings news, Tiffany & Co, jewelry retailer, reported that Q1 earnings advanced to 30 cents a share, from 27 cents a share a year ago, beating estimates of 28 cents. Revenue advanced 6%.
- Elena
- 31 May, 2006
- New York City
Stock futures were poised to a strong opening Wednesday ahead of the Fed Reserve FOMC minutes release. Costco, warehouse retailer, reported Q3 earnings of $235.6 million or 49 cents per share compared to $209.8 million or 43 cents per share last year. Analysts had been expecting the company to earn 50 cents per share.
- Elena
- 31 May, 2006
- New York City
Comcast and Time Warner were accused of price-fixing and bid-rigging in their submission of a joint bid instead of competing against each other to acquire Adelphia''s assets. The America Channel claimed in its lawsuit that the deal violated federal antitrust laws and would reduce competition in the cable TV industry.
- Ivaylo
- 31 May, 2006
- New York City
The steep fall of U.S. stocks overnight, together with the rise in oil prices, pulled Japan
- Ivaylo
- 31 May, 2006
- Frankfurt
European market recovered early losses Wednesday as banks and oil stocks reversed the downtrend, helped also by strength in telecoms stocks, which have exhibited defensive qualities during market volatility recently. By mid morning London
- Ivaylo
- 31 May, 2006
- Metals
Traditionally regarded as a safer alternative to the dollar, gold rose yet again in the wake of the greenback fall versus the euro, following the replacement of the U.S. Treasury Secretary. The decline in the outlook in the labor market was another blow to the already enfeebled dollar.
- 123jump.com Staff
- 30 May, 2006
- New York City
Worries of inflation, interest rate uncertainty and rising prices of oil and commodities took market averages down around the world. In the overnight trading Asia declined led by a fall in Thailand and Korea. In Europe averages closed lower across the region as eight of the twelve major markets declined. Latin American markets closed lower led by a sharp decline of 4% in Brazil. Russia closed 1% lower.
- 123jump.com Staff
- 30 May, 2006
- New York City
Markets declined in Latin America for the third day in a row afte steadily rising in the first four months of the year. Bovespa index in Sao paolo lost 4% on worries that rising interst rates in the U.S. will force investors to pull capital from its market. Index has gained 90% in the last 12 months but is now up less than 10% since the beginning of the year. Argentina and Mexico lost 3.4% and 3.1%.