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  • 123jump.com Staff
  • 30 May, 2006
  • New York City

Market averages maintained their negative bias as Nasdqaq lost 1.5% and Down and S&P 500 lost 1.3% in the afternoon trading. Tribune, publishing company plans to acquire 25% of its outstanding shares. Gold rose as much as $12. Crude oil rose 2% before settling 1% higher. General Motors sotck trades 5% lower on a downgrade from Deutsche Bank. Freddie Mac to report earnings after the close.

  • Elena
  • 30 May, 2006
  • Frankfurt

European markets closed steeply down on speculations about interest-rate increases and lower economic growth. Weakness on Wall Street contributed by sliding dollar, resurgent oil prices, and disappointing corporate news also weighed. European auto stocks like Volkswagen and BMW notably declined on the weaker dollar. EADS showed a significant loss of 4.5%. The German DAX 30 dropped 2.3%, the French CAC 40 slid 2.4%, and London FTSE 100 tumbled 2.4%.

  • Elena
  • 30 May, 2006
  • New York City

U.S. stocks extended losses Tuesday, dragged by disappointing same-store sales from Wal-Mart and climbing oil prices. The Nasdaq dropped 1% and the Dow industrials fell more than 100 points. Shares of Goldman Sachs fell 1.5% on the heels of news that the company''s Chairman and CEO Henry Paulson was nominated to replace John Snow as Treasury Secretary.

  • Elena
  • 30 May, 2006
  • New York City

The market experienced another streak of volatile trade. The benchmark plummeted 100 points, following a gain of as much as 100 points earlier in the trading. Market averages traded in a volatile fashion on a declining trading volume. Cement maker Madras Cement released expansion plans and Jindal Steel emerged as sole bidder for a steel manufacturing plan in Bolivia.

  • Elena
  • 30 May, 2006
  • New York City

Stocks opened sharply lower Tuesday as investors locked in recent profits. Dow component Wal-Mart declined 2% after the retailer said its May same-store sales are expected to be near the low end of its previous guidance. General Motors fell 3% after Deutsche Bank downgraded its rating on the auto maker. Kinder Morgan climbed 21% after an investor group led by its management offered to acquire the company for $100 per share in cash.

  • Elena
  • 30 May, 2006
  • New York City

U.S. stock futures seemed poised to a weaker start after the long holiday weekend and ahead the minutes of the FOMC meeting. Disappointing news on Wal-Mart same-store sales also generated negative sentiment, sending the stock down 2%. Wal-Mart reported May comparable store sales growth of 2.3%, the low-end of the 2 to 4% range that the retailer forecast earlier this month. General Motors declined 3% on brokerage downgrade.

  • Ivaylo
  • 30 May, 2001
  • New York City

Shares in Tokyo declined for a second day in a row on weak consumer spending and industrial production data. Japanese benchmark Nikkei 225 index dropped 0.4% and Hong Kong''s Hang Seng also dropped 0.7%. South Korea

  • Ivaylo
  • 30 May, 2006
  • Frankfurt

Rising money supply and credit growth in the eurozone provoked worries of tighter monetary conditions, although there are talks that a 25-basis-point rate increase at the next European Central Bank meeting next week was a done deal. London

  • Ivaylo
  • 29 May, 2006
  • Mumbai

Indian benchmark Sensex had opened higher and struck a high as the trading stepped up. Later in the trading though, the Sensex experienced a streak of high volatility, swinging 210 points for the day. Steel, tech and auto sectors were among the advancing sectors.

  • Ivaylo
  • 29 May, 2006
  • New York City

Hong Kong''s benchmark Hang Seng Index edged up after briefly probing the 16000 level. In Singapore, the Straits Times Index benchmark finished 0.2%, down and in Australia, market closed at its day''s high, putting together a second dayin a row of gains in response to the Friday rally. The South Korea

  • Ivaylo
  • 29 May, 2006
  • Frankfurt

Both London and New York are closed today because of public holidays. In mid morning trading, Frankfurt

  • Ivaylo
  • 29 May, 2006
  • Metals

Some of the recovery was due to technical factors. Otherwise, analysts think there was good support for the precious metal to be around $637 to $638.50. The current low is $640.50. So gold came into a level where technically, it should have been. Other precious metals, such as silver and platinum also gained.

  • Yordanka
  • 28 May, 2006
  • New York City

IPOs came in mixed last week. Internet telephone service provider Vonage lost 24% from the initial price, while shares of the world''s second largest credit-card association MasterCard rose 15% even priced below expectations.

  • 123jump.com Staff
  • 27 May, 2006
  • New York City

Singapore in an attempt to diversify from the its manufacturing base granted its first gambling license to build a casino. The $3.2 billion casino may be the most expensive casino built ever in the world. The casino is scheduled to open in 2008 and generate more than 10,000 jobs in Singapore and add S$2.5 billion to the economy by 2015. Las Vgas Sands stock rose 9%.

  • 123jump.com Staff
  • 26 May, 2006
  • New York City

Steel stocks rose on hope that Mittal Steel may cast its eye on other companies if merger with Arcelor do not happen. several leading steel makers including U.S. Steel and Nuecor rose between 2% and 3%. Arcelor has proposesd a merger with Russian steel company Severstal to fend off a hostile deal Mittal Steel. Arcelor global search of white knight has not been successful in the last three months.