- 123jump.com Staff
- 17 Mar, 2006
- New York City
Broader averages found their stable footings in a month when investors are ready for a sell-off. Techs lagged the gains in broader averages but still managed to rise. Crude oil and natural gas advanced 6% and 7% respectively. General Motors closed 5% lower on accounting errors and 2005 loss revision by $2 billion. Emerging markets had a sharp correction in the Middle East but Mexico, Brazil and India gained for the week.
- 123jump.com Staff
- 17 Mar, 2006
- New York City
Emerging markets for the week advanced in Mexico, India and Brazil but Middle Eastern markets corrected sharply. Mexico advanced every day of the week. Brazil rose on 75 basis points interest decline and India rose on steady flow of funds from local and foreign investors. Dubai, Egypt and Saudi Arabia crashed between 20% and 30% for the week from the three-year highs. Egypt and Dubai has scaled more than 1,000% gains since the year 2002.
- 123jump.com Staff
- 17 Mar, 2006
- New York City
It was another day of denials and disappointments at General Motors. The company reported that the annual loss for the year 2005 will be revised to $10.6 billion, by $2 billion, and restate earnings dating back to the year 2000. The accounting errors are related to Delphi bankruptcy filing liabilities, restructuring costs and commercial division of GMAC.
- Elena
- 17 Mar, 2006
- Frankfurt
European averages closed mixed, erasing some of the earlier gains. Markets sharply advanced at mid-day, lifted by strong rally in the insurance sector but eventually finished off highs. London FTSE 100 hit an intra-day high, crossing the 6,000 level for the first time in five years, but closed only 0.1% up. The French CAC 40 rose 0.3%, while the German DAX 30 fell 0.3%.
- Elena
- 17 Mar, 2006
- New York City
Stocks have traded in a narrow range since opening. Boeing was the most conspicuous gainer within the Dow, up 1.3%. United Technologies rose 1.2%. Other notable movers to the upside were Merck, Pfizer and General Electric, each rising 0.8%. General Motors dropped 3.2% on announcement that company would delay the filing of its annual report, due to an accounting issue. AIG fell 2.4% on disappointing Q4 earnings.
- Elena
- 17 Mar, 2006
- New York City
U.S. stocks slightly advanced as upbeat data on industrial production offset disappointing news from General Motors and American International Group. GM shares fell 2.4% on report that its 2005 loss was $2 billion deeper than previously reported. AIG fell 2.5% on 72% drop in Q4 profit, citing a legal settlement charge and hurricane losses. Google said it expects its 2006 capital expenditures to exceed significantly the $838.2 million it spent last year.
- Elena
- 17 Mar, 2006
- New York City
U.S. stocks opened higher, awaiting key consumer sentiment report. General Motors and American International Group weighed on the Dow. GM shares fell 2.4% on report that its 2005 loss was $2 billion deeper than previously reported. AIG fell 2.5% on 72% drop in Q4 profit, citing a legal settlement charge and hurricane losses.
- Elena
- 17 Mar, 2006
- New York City
Stock futures pointed to a lackluster opening on cautiousness ahead of key consumer sentiment report. General Motors and American International Group weighed on the Dow. GM shares fell 4% before the bell on report that its 2005 loss was $2 billion deeper than previously reported. AIG fell 1.4% on 72% drop in Q4 profit, citing a legal settlement charge and hurricane losses.
- Elena
- 17 Mar, 2006
- Frankfurt
European averages posted solid gains at mid-day on strong insurance stocks, including Zurich Financial, Prudential, and Royal & Sun. London FTSE 100 hit a five-year high, rising 0.8% to 6,041. The French CAC rose 0.8% and the German DAX 30 gained 0.75.
- Elena
- 17 Mar, 2006
- New York City
Indian market remains a favorite destination of emerging market investors. For the week the index rose 0.9% and industrial, media, banks and software consulting companies rose. The markets in Gulf region suffered worst declines ever in Saudi Arabia, Dubai and Egypt. Indexes in Dubai, Egypt and Saudi Arabia lost between 20% and 30% this week. Since 2002 these markets have gained between 600% and 1,200% before this correction.
- Elena
- 17 Mar, 2006
- New York City
Asian-Pacific benchmarks finished broadly higher. The Nikkei rebounded from Thursday sharp decline, supported by strong bank and brokerage stocks. The index surged 1.5% after Softbank announced a $15.6 billion bid for the Japanese assets of Vodafone. China Mobile led Hong Kong higher, South Korean Kospi reversed from losses to gain 0.5%, while Shanghai Composite declined 0.4%.
- 123jump.com Staff
- 16 Mar, 2001
- New York City
Investors for the second day read economic reports of healthy economic growth and contained inflation. February CPI rose 0.1% after gaining 0.7% in January and Phily Fed suggested that the inflation at retail level is under control. Less than a steep decline in February housing starts and falling yields drove most housing stocks higher. Emerging markets were led by Indonesia and Mexico. India closed at record high for the third time.
- 123jump.com Staff
- 16 Mar, 2006
- New York City
Most markets in the developing economies maintained their upward bias during the trading day. Markets in Pakistan, Indonesia and Mexico led advancers. Home builders and consumer staples led the advancers in Mexico.Cemex, Homex and Fomex were up at least 1% near close. Brazil index was under pressure near close but several telecom, steel and airline stocks were higher. Marekt in India reached a new high for the third time this week.
- 123jump.com Staff
- 16 Mar, 2006
- New York City
Emerging markets continue to draw investors attention and funds. Russia, Turkey, Brazil and India are trading for the year are up 15% or more in the first 10 weeks of the year.For the year so far Indian market has attracted $3.3 billion investments from foreign investors. Brazil, Mexico and Russia continue to receive funds from the U.S., Japan and Europe. Brazil last week lowered interest rate by 75 basis points.
- Elena
- 16 Mar, 2006
- Frankfurt
European markets closed near the flat line, erasing some of the earlier losses as strong performance from Casino Guichard and Corus Group limited decline on pressuring oil, healthcare sand insurance stocks. The German DAX 30 lost 0.01%, the French CAC 40 inched down 0.04%, while London FTSE 100 rose 0.5%.