- 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.
- Elena
- 14 Jun, 2006
- New York City
Stocks bounced higher in early trading as investors shrugged off a higher reading on inflation data, prompting another Fed Reserve interest rate increase. In another report the Department of Energy''''s EIA said that crude oil inventories fell by 900,000 barrels for the week ended June 9, while gasoline inventories showed a week-over-week increase of 2.8 million barrels.
- Elena
- 14 Jun, 2006
- Frankfurt
European markets finished near the flat line, despite merger-and-acquisition related gains for Bayer, Vinci, and Credit Suisse Group. Market sentiment was hurt by inflation worries and sharp decline in the aerospace sector. The German DAX 30 added 0.3%, while the French CAC 40 lost 0.1%, and London FTSE 100 declined 0.2%.
- Elena
- 14 Jun, 2006
- New York City
The Department of Labor released its report on consumer prices index, showing that CPI rose 0.4% in May, following an unrevised increase of 0.6% in April. The index increase was largely contributable to higher energy prices and came in line with expectations. The report also showed that the core consumer price index, excluding food and energy prices, rose by 0.3%.
- Elena
- 14 Jun, 2006
- New York City
Stock futures indicated a positive start of Wednesday session, following steep declines yesterday and awaiting CPI data. Semiconductors received a boost in pre-market trading after Goldman Sachs upgraded its rating on four companies. The investment bank raised Intel Corp., Advanced Micro Devices, SanDisk Corp., and Applied Materials Inc.
- Elena
- 14 Jun, 2006
- New York City
The announcement came after Goldman Sachs raised its bid to 810 pence (euro11.85 US$14.90) a share, following a bid rejection of 730 pence a share from AB Ports in March. The deal is valued at 2.5 billion pounds which equals euro 3.7 billion, or US$4.6 billion.
- Ivaylo
- 14 Jun, 2006
- New York City
Markets started lower as investors were discouraged by yet another fall on U.S. markets. But the stocks then moved into positive territory after investors began to buy stocks that had fallen to attractive levels. Japanese shares advanced as investors took up retail, insurance and steel issues. Hong Kong shares ended slightly higher, Taiwan shares surged and South Korea''s Kospi Index also bounced back.