Housing Worries Erase NY Gains
Jul 31, 4:54 PM EDT |
|
| volatility persists in market trading as later afternoon declines erase early morning gains in NY trading. Dow Jones, News Corp inch closer to a deal. |
|
| New York averages slid in the last hour of trading. Market averages opened higher in the morning and quickly jumped to triple digit gain lifting averages in Europe and South America. In the afternoon tradning worries related to housing marekt resurfaced and investors turned cautious led by weak stocks in the financial sector. European markets closed at their peak before the afternoon sell-off in New York. General Motors and Sun Microsystems swung to profit. |
|
|
Full Story... |
Lloyds, EasyJet Help Europe Rebound 2%
Jul 31, 1:56 PM EDT |
|
| Banking giant Lloyds TSB rose 4.4% after it agreed to sell its Abbey Life Assurance unit to Deutsche Bank for 977 million pounds in cash. |
|
| European stock markets rebounded from recent weakness to post their best one-day gains since the middle of March. Stocks were led higher by strong financial sector, as positive earnings and deal news managed to offset continued credit-markets concerns. Airlines also stood out among gainers. Ryanair jumped 11.6% and EasyJet climbed 12.9%. The U.K. surged 2.5% at 6,360.10, France jumped 1.9%, and Germany climbed 1.7%. |
|
|
Full Story... |
Marathon to Buy Western Oil Sands for $6.2 B
Jul 31, 11:48 AM EDT |
|
| Marathon Oil fell 2.8%, as it announced a deal to acquire Canada's Western Oil Sands in a deal worth $6.2 billion. |
|
| U.S. market averages traded off earlier highs as investor cautiousness led to choppy trading. Better-than-forecast earnings from Dow component General Motors, Sun Micro and positive inflation data have been helping market to continue recovery. Other gainers on the Dow included, Altria Group, up 3.6%, Verizon, up 3%, Caterpillar and Alcoa, each rising more than 1.3%. Tobacco, utilities and real estate stocks posted strength. |
|
|
Full Story... |
Sensex in India Surges
Jul 31, 10:36 AM EDT |
|
| Sensex jumps 12% in July on earnings and strong economic fundamentals. RBI raised its capital ratio for banks. |
|
| Sensex jumped above 15,500 on strong earnigs from several companies. Sensex jumped 12% in July. Reserve Bank of India raised its capital reserve ratio for banks to 7% from 6.5% to contain inflation. Market focused on earnings results and ignored the news in the early morning trading. Reliance communication earnings surged 77% on lower tariff. Bhel reported lower earnings but showed increase in order book. |
|
|
Full Story... |
Market Rallies on Weak Inflation
Jul 31, 10:03 AM EDT |
|
| Johnson & Johnson added 2% after it said it will cut up to 4% of its global work force to save as much as $1.6 billion before tax by next year. |
|
| Wall Street rallied at opening Tuesday, benefiting from stronger-than-forecast earnings from Sun Microsystems and Dow component General Motors, as well as news of tame inflation in June. The core personal consumption price index rose 1.9%, marking the lowest inflation in three years. However, June personal spending disappointed a little, showing a weaker-than-expected increase of 0.1%. The Dow Jones industrial average gained more than 100 points. |
|
|
Full Story... |
GM, Sun Micro Lift U.S. Opening Mood
Jul 31, 9:12 AM EDT |
|
| The Commerce Department said that core consumer inflation increased 0.1% in June. |
|
| U.S. stock futures pointed to a second consecutive session of gains Tuesday, boosted by optimism over corporate profits after General Motors and Sun Microsystems released better-than-expected quarterly earnings. GM rose 6.4% on 27% adjusted profit rise in Q2, helped by overseas sales. Sun Microsystems rallied 10% after the company swung to profit of $329 million, due to reduced operating expenses. |
|
|
Full Story... |
European Markets Surge at Mid-day
Jul 31, 8:54 AM EDT |
|
| All markets in European trading are ahead at mid-day. New York indexes are likely to open higher. Mining stocks in Europe are trading higher. |
|
| European markets surged at half-time tracking the postive sentiment in New York close. Germant and UK led the market averages across the region. Top eleven markets jumped across the region. German unemployment fell more than expected. GlaxoSmithKline jumped 3% after U.S. FDA approved its drug for sale. Copper price and mining stocks are trading higher in London trading. Economic reports from Germany indicate that second quarter growth may match that in the first quarter. |
|
|
Full Story... |
Tokyo Investors Focus on Earnings
Jul 31, 8:03 AM EDT |
|
| Steel companies stocks fell in Japan on the news that the companies are investigated for price fixing. |
|
| Nikkei edged a fraction lower but for the month declined 5%. Unemployment in June declined to 3.7% from 3.8% in May. Investors shifted their focus to earnings from the volatility in the global markets. Nikon surged 5% and reprted net revenue gain of 29% after the close. Olympus surged 6% after reporting 147% rise in earnings. Mitsubishi Corp jumped 5% after the revenue increased 12% and earnings declined 18%. |
|
|
Full Story... |
GM Swings to Profit, Beats Estimates
Jul 31, 7:58 AM EDT |
|
| General Motors jumped 7.2% in pre-market trading after it said Tuesday it swung to a Q2 net income profit. |
|
| The automotive giant posted Q2 increase to $891 million, or $1.56 per share, reversing from a loss of $3.4 billion, or $5.98 a share a year ago. However, company’s sales fell to $46.8 billion vs. a restated $53.9 billion last year. Quarterly results exceeded analyst expectations of earnings of $1.13 a share and revenue of $44.45 billion. |
|
|
Full Story... |
New York Up, Europe Struggles, Asia Rebounds
Jul 30, 4:21 PM EDT |
|
| Markets in New York remained volatile but closed higher on the late stage buying. Gold and other metals edged up, oil closed lower. |
|
| Late afternoon rally in New York lifted broader averages at close. European markets closed mixed and China led the rebound in the region. Oil fell but gold and other metals edged up a fraction. Ingersoll-Rand agreed to sell its construction vehicle business to a Korean conglomerate for $4.9 billion. HSBC reported that its first half income jumped 24% on 23% rise in sales. Ruling party in Japan lost its majority in the upper house election. |
|
|
Full Story... |
|
|
1
