- Elena
- 28 Sep, 2006
- New York City
Market has maintained positive momentum for five trading days. Banks were in focus, with the banking sector index hitting all-time high. Some stocks, such as Infosys Technologies and Tata Power witnessed short covering in derivatives. Bull unwinding in derivatives was seen in TCS, Hindustan Lever, and Cipla. Banks outperformed all other stocks today. HDFC, HDFC Bank, SBI , and ICICI Bank led the advancers. TCS and Maruti led the decliners.
- Elena
- 28 Sep, 2006
- New York City
The Dow Jones industrial average hit its record-high close Thursday morning, lifted by optimism about steady interest rates and a soft landing for the economy. The Dow rose to 11,724.86, facing one more milestone, its intraday high of 11,750.28, before it could move into uncharted territory.
- Ivaylo
- 28 Sep, 2006
- New York City
London shares moved higher at mid-day, led once again by a strong mining sector, while persistent bid talk on Hanson and Brambles also supported the FTSE to climb to within reach of the 6,000 level. An upbeat mining sector helped to underpin blue chip gains as commodity prices continued their recovery after recent falls and as ABN Amro advised clients to buy. The UK benchmark gained 31.4 points, or 0.5%.
- Elena
- 28 Sep, 2006
- New York City
The latest reading on the GDP, released by the Commerce Department showed that economy grew at 2.6% pace in the second quarter, slower than the 2.9% figure estimated a month ago. In another report, the Labor Department reported that the number of new people signing up for unemployment benefits fell by a seasonally adjusted 6,000 to 316,000 for the week ending Sept. 23. The figures came in close to expectations for claims to total around 315,000.
- Ivaylo
- 28 Sep, 2006
- New York City
Investors focused on Honda Motor Corp., BHP Billiton Ltd. and energy-related shares after crude-oil prices rebounded. The Japanese stock market advanced moderately, recovering from the sharp fall the previous day as traders wondered whether the market had overreacted to recent concerns about US growth. In Japan, share prices of consumer finance companies increased as well.
- Ivaylo
- 28 Sep, 2006
- New York City
Commodity companies such as BP advanced in Thursday morning European trade, limiting broader-market losses, after oil prices rebounded from lows overnight. Royal Dutch Shell strengthened and mining companies including BHP Billiton and Rio Tinto moved higher for a third day. MAN gained on rumours that Volkswagen was poised to make a bid for the company. The U.K. FTSE 100 index gained 0.1% , the German DAX Xetra 30 added 0.1% and the French CAC-40 index climbed 0.25.
- Ivaylo
- 28 Sep, 2006
- New York City
Over the last couple of weeks, gold futures have been able to stabilize even with the energy prices going lower. There have been some indications of lower prices starting to trigger stronger demand in cash markets for gold. Energy prices have begun to stabilize, despite a bearish inventory report on Wednesday. That, in turn has attracted stronger buying interest and reduced selling interest in gold.
- 123jump.com Staff
- 27 Sep, 2006
- New York City
Market averages rose in the morning hours but managed to hold on to gains during the session. Dow rose to the high for the year but Nasdaq and S&P 5000 were subdued. August durable goods orders fell 0.5% when expectations were for the orders to rise 0.5%. Oil rose inthe final hour of trading after government reported that oil inventory levels were higher than expected at the end of previous week. New home sales rose 4.1% in August to 1.05 million annual rate.
- 123jump.com Staff
- 27 Sep, 2006
- New York City
Market averages closed higher across the European region led by a surge of 2.6% in Spain and 1.5% rise in Norway. Peogeot said that it may let 10,000 people in Europe by the end of the Europe. Germann E.on raised its bid for Spanish Endesa by 38% taking with it Spanish market higher. Firm oil price supported a rise of 1.5% in Norway. Goldman Sachs raised outlook for BHP and other miners. Aer Lingus prices its IPO at 2.2 euros per share.
- Elena
- 27 Sep, 2006
- New York City
U.S. stocks traded higher Wednesday, with blue chip stocks like Intel and McDonalds pushing the Dow Jones Average very close to a new high. Intel rose 3% while Advanced Micro Devices rose 1.7% after a federal judge limited AMD antitrust suit against its larger competitor. Shares of McDonald''''''''s rose 1.5% after its board approved an increase of nearly 50% for its dividend.
- Elena
- 27 Sep, 2006
- New York City
The Sensex opened higher today and surged to a fresh high in early morning but profit-taking at blue-chip level saw the index fall in late trading. Volatility was high on account of expiry of September derivative-contracts on Thursday. Reliance Energy led the advancers, while Reliance Capital was the most active stock. The BPO industry in the country has the potential to process up to 30% of the US bank transactions by 2010.
- Elena
- 27 Sep, 2006
- New York City
Stock markets opened in the negative reflecting a weak durable-goods report that revived fears of slowing economy. An advance by oil prices further undermined sentiment. Shortly after opening hours, stocks turned flat to higher to enter the positive territory after the Commerce Department said that new home sales rose 4.1% in August, their biggest increase in five months.
- Ivaylo
- 27 Sep, 2006
- New York City
Leading stocks traded in positive territory at midday, bolstered by advances across the mining sector, while expectations of a renewed bid approach for EMI from Warner Music was adding to the pervading optimism. The market was also assisted by continued strength across the Atlantic, expected to open higher again today. By mid-day, the FTSE 100 index was up 53.6 points at 5,927.2, with only UK small caps in the red.
- Elena
- 27 Sep, 2006
- New York City
Stock market futures turned lower Wednesday, erasing earlier gains with the Dow nearing a new all-time high. Market sentiment was hurt by an unexpected decline in orders to U.S. factories for big-ticket manufactured goods. The Commerce Department reported that durable goods orders dropped 0.5% last month to $209.7 billion, reflecting a decrease in demand for computers and other electronic products.
- Elena
- 27 Sep, 2006
- New York City
E.On upped its all-cash offer for Endesa to 35 euros a share vs. a previous bid of 25.40 euros a share. The company''s move comes after Acciona disclosed Monday that it bought a 10% stake for 32 euros a share, suggesting that the Spanish government was urging the conglomerate to buy a stake in order to keep Endesa out of German reach.