S&P Up 14%, Nasdaq Up 10%
Dec 29, 5:06 PM EST |
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| Markets aroud the world advanced. Dow gained 16%, S&P 500 advanced 14% and Nasdaq rose 10%. |
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| Markets around the world rose on higher prices of commodity, metals and oil during the year 2006. Profits of companies rose at the fastest pace in Asia and Western European nations. Peruvian and Chilean stock markets beenefited from rising metal prices and Brazil gained on higher exports. Mexico, Venezuela and Russia rose on higher oil price. India rose for the fourth year and China registered gain of more than 100%. Gold advanced 23%, crude oil closed flat and natural gas fell 44% in the year. |
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Asia Leads Global Markets
Dec 29, 1:01 PM EST |
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| Asian markets closed higher for the year with China, Vietnam and India leading the region. Peru and Venezuela are leading the world markets. |
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| Peru and Venezuela led the world markets for the year. Asian markets closed higher across the region. Economic expansion in the Asian region is likely to sustain market rise, however at a slower pace, in the yer 2007. Middle Eastern markets take a tumble and sell off between 20% and 53%. Apple rebounds 5% on the news that the company investigation cleared the CEO from stock option investigation. Chrysler agrees with Chinese company to build small car in China and sell worldwide. |
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Sensex Up 47%
Dec 29, 10:12 AM EST |
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| The Sensex in India ended the year with a loss, as selling pressure emerged in the final hour of trade but closed up 47% for the year. |
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| The Indian benchmark index has gained 47% over the year, one of the best performing emerging markets in the world. Of the 3,000 daily traded stocks only 25% managed to beat the rise in Sensex and 50% of the companies lost value in the year. Auto sector index rose 31%, banks gained 42% and cement sector rose more than 70% for the year. For the day, stocks ended lower. |
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UK Shares Decline, Property Stocks Gain
Dec 29, 9:55 AM EST |
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| U.K. stocks declined in the last session of the year, led by BP and Royal Dutch Shell as the price of oil dropped. Property stocks outperformed. |
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| Volumes traded on the market were expectedly low as investors took profits from some of the gains posted this week. Utilities declined with Scottish & Southern Energy leading the way. Financials such as Northern Rock and Royal & Sun Alliance were also lower, while property groups Persimmon, Land Securities and Hammerson advanced. The benchmark FTSE 100 Index in London lost 20.1, or 0.3%, to 6220.80. |
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Apple Leads Nasdaq Up
Dec 29, 8:59 AM EST |
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| Shares of wireless operator Alltel rose 3.2% on reports private-equity firms are exploring the idea of a leveraged buyout for the company. |
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| U.S. stock market futures traded near the unchanged mark, as an advance by Apple Computer offset worries about an end-of-year sell-off. Trading volume was expected to be light on Friday. Apple jumped 4% to $84.15 before market opening as the company said in a regulatory filing that CEO Jobs was aware of certain favorable stock options grant dates, but did not personally benefit from improper option grants. |
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Options Probe Clears Apple Management
Dec 29, 7:58 AM EST |
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| Apple rose 4.5% in pre-open after the special investigating committee concluded that there was no evidence of misconduct by current management. |
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| However, it did find that CEO Steve Jobs was aware or recommended the selection of some favorable grant dates but he didn’t personally benefit from them. Apple said that its options mishandling will result in an additional noncash charge of $84 million. |
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Asia Ends Year Higher
Dec 29, 7:33 AM EST |
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| Asia finished the year upbeat with Japan gaining on exporters and Australia hitting a new high. |
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| Asian markets finished the year on a positive note on Friday, as Japan closed higher in a shortened trading session and Australia reached a record high with traders buying large-caps. Toyota Motor Corp., Canon Inc. and other exporters helped the benchmark index after the yen retreated against the dollar. Hong Kong bucked the uptrend, ending lower on profit-booking in Chinese banks and index large-caps. |
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Europe Ends Flat
Dec 28, 1:02 PM EST |
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| Siemens rose 1% after the conglomerate together with IBM won a 10-year IT contract from the German military worth 7.1 billion euros. |
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| European stocks ended flat on Thursday, reflecting an increase in the price of oil which countered positive data on U.S. economic growth. The German DAX 30 closed unchanged at 6,611.81, reversing from a five-year high reached earlier in the session. Among other regional markets, the French CAC 40 and London FTSE 100 lost 0.1% each. |
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Rate Worries Weigh on Wall Street
Dec 28, 11:58 AM EST |
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| Apple fell 2% on the reports that company's CEO was handed 7.5 million stock options in 2001without the required authorization. |
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| U.S. stocks failed to continue the recent rally and kept trading in the negative, despite stronger-than-anticipated economic reports. On the one hand, the upbeat data provided support to the equities, but on the other, stoked concerns about faster-than-expected economic growth that could lead the Fed to stay on hold on rates in 2007. |
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India Pauses, Rupee Trades Higher
Dec 28, 11:05 AM EST |
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| The Sensex in India retreated from gains over the last few days as capital goods and IT stocks faced selling. Cipla led the decline. |
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| The market opened firm but succumbed to high volatility in the afternoon trading. Auto, metal and oil and gas stocks gained with Hero Honda, HDFC Bank and ITC leading the way. Telecoms were in focus over bid speculation for Hutch Essar. Banks kept their winning streak on hopes of improving profitability after several lending rates hikes. The market fall at the end of the trade was mainly on expiry of year-end derivatives. Cipla, SBI, Dr Reddy led the decliners. |
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