- Elena
- 12 May, 2006
- Frankfurt
European markets dropped to their lowest levels in two years. Stocks moved steeply down on concerns over inflation and interest rates. Negative sentiment was also generated by shares of steel companies which reported lower quarterly profit. Mittal Steel dropped 2.4% on 30% net income decline for Q1, while Arcelor fell 2.3%, on 20% profit decline. The German DAX 30 tumbled 2.3%, the French CAC 40 slid 2.1%, and London''''s FTSE 100 dropped 2.15%.
- Elena
- 12 May, 2006
- New York City
Online financial-services firms traded lower, despite better-than-expected April volumes for several companies. Charles Schwab Corp fell 1.4% after saying that April daily average revenue trades, or DARTs, rose 44% to 293,000. April client assets rose 22% to $1.3 trillion. TD Ameritrade Holding Corp. reported that it handled an average of 278,000 trades a day in April. The stock was down 0.5%.
- Elena
- 12 May, 2006
- Mumbai
The real estate developer DLF was reported to have drafted a preliminary prospectus with SEBI amounting to $3 billion that was the reason for the market volatility in late session. Worries reign over the possibility that the super IPO might drain liquidity from the secondary market. The market was also influenced by weak global markets.
- 123jump.com Staff
- 12 May, 2006
- New York City
Market averages remained lower in the first hour of trading. Trade deficit declined for the second month in a row but annual rate of deficit for the year is still expected to be higher. Deficit with China, Japan, Mexico and European Union rose. Deficit with Canada declined. Exports of electrical equipment and farm products rose. Dow, Nasdaq and S&P are down a fraction in the fir hour of trading.
- 123jump.com Staff
- 12 May, 2006
- New York City
Market averages are down at the opening. Dow opened 30 points lower, Nasdaq traded 14 points down and S&P opened 3 points lower. Oil traded lower as International Energy lowered demand for oil. Expedia, online travel booking service, reported earnings of 6 cents vs. 14 cents a year ago on 2% rise in revenue. Domestic revenue in the first quarter declined 4% and international booking revenue rose 24% excluding foreign exchange impact.
- 123jump.com Staff
- 12 May, 2006
- New York City
Market aveerages for the second day are likely to trade in the negative territory for the second day in a row. Weak dollar and rising metals and oil prices are worrying traders. Oil fell in the European trading as International Energy Agency lowered its demand for oil by 200K barrels per day to 84.4 million barrels per day. Best Buy is in a deal to buy a stake in the fourth largest electronic retailer in China.
- Ivaylo
- 12 May, 2006
- Frankfurt
The dollar sank to a one-year low versus the pound and the euro bringing up concerns of less-than expected translated earnings in Europe. Miners led the decliners, as they price their products in dollars with BHP Billiton and Kazakhmys shedding 4% each. Carmakers lost up to 3%. By 0948 GMT, the London FTSE 100 dropped 92.6 points, Germany''s DAX 30 shed 1.6 % and France''s CAC 40 fell 1.7 %.
- Ivaylo
- 12 May, 2006
- Metals
Gold has gained more than 40% since November of last year, led by a number of factors, among which are the worse-than-expected U.S. economic data and a decline of the dollar against the euro. These key reasons have brought about massive speculative and fund rallies. The tensions over Iran
- 123jump.com Staff
- 11 May, 2006
- New York City
Market Averages closed lower on Federal Reserve interest rate rise. Dow lost close to 1.2% and Nasdaq lost 2.1%. Gold, Silver, and Platinum trade at record levels. Emerging markets in Mexico, Brazil, and India are down 1% or more. Viacom reported earnings of 43 cents a share vs. year-earlier earnings of 47 cents a share. JC Penny reported net earnings of 89 cents a share in comparison to 62 cents a share last year. On average, analysts had been expecting earnings of 88 cents a share.
- 123jump.com Staff
- 11 May, 2006
- Metals
Market averages are trading at their worst levels of the day. Interest rate worries have resurfaced in the trading sentiment. Dollar continues to lose grounds in the international currency markets. Gold, silver and platinum reach record levels not seen in 26-years. Google lose $14 after yet another release of prducts that aere not well received in the market. Industry watchers labeled recent release of Google Finance as me-too product.
- Elena
- 11 May, 2006
- Frankfurt
European markets reversed from early gains to close down, pressured by weakness in the telecom sector, surging commodity prices and a steep decline in the Dow Industrial average. Deutsche Telekom fell 2.6%, followed by France Telecom and PT Group. The German DAX 30 dropped 1%, the French CAC 40 lost 0.3%, while London FTSE 100 slipped 0.7%, despite gains in miners and oil giants.
- Elena
- 11 May, 2006
- New York City
Surging oil prices pressured stock markets. The Nasdaq and the Dow were down 1%. Apple lost 2.6%, Dow component AIG lost 4.1%, while GM dropped 3.6%. Big energy companies and commodities users fell, including heavy equipment maker Caterpillar and diversified manufacturer 3M Co. Shares of Movie Gallery skyrocketed 61%, to 5.10 after reporting better-than-expected Q1 earnings of $40.3 million, or $1.27 a share on revenue growth of $694.4 million.
- Elena
- 11 May, 2006
- Mumbai
The market weakness sprang from the left parties
- Elena
- 11 May, 2006
- New York City
April retail sales rose slightly below expectations. The Commerce Department said that retail sales rose 0.5% in April against economist estimates of an increase of 0.7%. The report also showed that sales at motor vehicle and parts dealers fell 0.4% after increasing 1% in March.The weaker-than-expected sales added to speculation that the Fed Reserve will leave interest rates unchanged at its June meeting.
- Elena
- 11 May, 2006
- New York City
Stock futures were set to open in the positive, boosted by strength in oil and mining companies, following a sharp advance in the price of oil, copper, gold and platinum. Shares of Exxon Mobil Corp. and ConocoPhillip gained. Dow component AIG reported after closing bell disappointing quarterly results as Q1 profit declined 16% on increased expenses.