- Ivaylo
- 16 Jun, 2006
- Metals
The precious metals selling slowed down a bit late in the session, with this most pronounced in gold, on obvious profit-taking. The recent decline was not a gold decline, it was not a metals'' decline or even a commodities decline. It was an across-the-board pullback among asset classes, from commodities, to emerging markets, regardless of their individual investment merits.
- 123jump.com Staff
- 15 Jun, 2006
- New York City
Market averages surged in the last thirty minutes of trading as traders piled in to catch the rally. The morning steady rise was powered by strong earnings from Bear Stearns, weak price in petroleum products and sustained buying in European stocks. Market averages took-off after traders interpreted Fed Chairman comments as soft on inflation. Gold, silver and natural gas rose during the day. Weekly petroleum inventories showed a mild fall in crude inventories. Caterpillar rose 5%.
- 123jump.com Staff
- 15 Jun, 2006
- New York City
Market averaegs are surging as less than thirty minutes of trading is left. Dow, Nasdaq and S&P 500 are trading near 2% gain for the day. Rally on the second day is broad based. Tech, Industrials, Commodities and emerging market linked stock led the surge. Energy and metals prices surged as well. Gold and silver are up 6%. Natural gas is up 9%.
- Elena
- 15 Jun, 2006
- Frankfurt
European markets closed sharply higher, lifted by bargain hunting and a strong rally on Wall Street. Industrial companies like ABB and Agfa-Gevaert were among the top advancers, rising 7.6% and 5.5% respectively. The German DAX 30 climbed 2.2%, the French CAC $0 surged 2.4%, and London FTSE 100 rose 2%.
- Elena
- 15 Jun, 2006
- New York City
Stocks rallied Thursday on upbeat earnings from Bear Stearns and mild economic data. In corporate news, Bear Stearns'' quarterly profit grew 83%, well above estimates, lifted by strength in equity trading and fixed-income revenue. Goldman Sachs raised its offer for AB Ports to about $4.8 billion, which was matched by rival Australia-based Macquarie Bank Ltd. in an intensifying bidding war.
- Elena
- 15 Jun, 2006
- Mumbai
Following three straight days of losses, Indian benchmark rebounded in style, soaring more than 600 points in one day in a fiercely bullish session. The recovery across global markets added to the positive sentiment that prevailed in the market. The market-breadth was strongly positive.
- Elena
- 15 Jun, 2006
- New York City
U.S. stocks advanced for a second day in a row, extending gains on strong earnings from Bear Stearns and mild economic data. Traders focused on data showing May industrial production fell 0.1%, below estimates for a 0.2% rise and down sharply from a 0.8% jump the month before. The Fed said capacity utilization fell slightly to 81.7%.
- Elena
- 15 Jun, 2006
- New York City
U.S. stock futures indicated a higher opening ahead of economic data. Early Thursday the Labor Department said that jobless claims fell to 295,000 from the previous week''s revised figure of 303,000. Economists had expected claims to increase to 320,000 compared to the 302,000 originally reported for the previous week.
- Elena
- 15 Jun, 2006
- New York City
Both consortiums valued the ports company at nearly 2.6 billion pounds ($4.8 billion). Goldman Sachs'' Admiral consortium first revealed it had raised its bid to 840 pence per share, just a day after it had reached agreement with AB Ports for a takeover at 810 pence per share. Port operators have become attractive takeover targets due to their stable income streams, large property portfolios and buoyant shipping markets.
- Ivaylo
- 15 Jun, 2006
- New York City
Investors were on their guard, though, as key U.S. inflation data was posted after Asian markets ended their sessions. South Korea
- Ivaylo
- 15 Jun, 2006
- Frankfurt
European markets staged a recovery on Thursday following overnight gains in Asian and U.S. markets as investors looked to grab cheaper shares following the recent market sell-off and due to merger-and-acquisition news that also supported indexes. The U.K. FTSE 100 index advanced 1%, the German DAX Xetra 30 index gained 1.2% and the French CAC-40 index climbed 1.2%.
- Ivaylo
- 15 Jun, 2006
- Metals
Gold traders are awaiting a sign that gold is able to separate from commodities and reestablish its role as a liquid, capital-preserving, trans-national currency. Until such a de-coupling occurs, or until gold stops being so dangerously near to its 200-day moving average the reasonable buyers may stand aside, leaving the floor open to seasoned pros who live for their daily adrenaline rush.
- 123jump.com Staff
- 14 Jun, 2006
- New York City
Market maintained a positive bias in the morning and accelerated its advance in the final hour. May CPI advanced at 0.4% and core CPI prices, excluding energy and food, rose 0.3%. Several traders believe that the CPI understates the true inflation in the economy and the Fed will increase interest rates in the next meeting. Boeing surged 6.5% on the news that Airbus is to delay launch of its latest jumbo jet. VeraSun, ethanol maker, IPO priced 18.2 million shares at $23 and closed up 30%.
- 123jump.com Staff
- 14 Jun, 2006
- New York City
Market averages rallied in the final hours of trading led by a rise in industrial stocks. Market traded higher despite stronger than expected rise in CPI data reported in the morning. Tech stocks remained under pressure but rallied in the last thirty minutes. internet stock did not participate.
- Elena
- 14 Jun, 2006
- Mumbai
Sensex attempted to rally tow times and failed to regain lost grounds. In a volatile session market traded lower in a broad weakness as infrastructure and tech stocks closed lower. Auto, cement and metals stocks came under heavy selling. Sensex has declined 30% since its peak in the second week in May of 12,600.