Warning: mktime() expects parameter 4 to be long, string given in /home3/jump/public_html/market-update-archive_t.htm on line 116
Warning: mktime() expects parameter 4 to be long, string given in /home3/jump/public_html/market-update-archive_t.htm on line 117
European Markets Close Mixed
Jul 30, 1:51 PM EDT |
|
| HSBC Holding erased earlier gains to close up 1.4% after the bank reported a 25% increase in first-half profit. |
|
| European stock markets closed mixed Monday after a volatile session. Stocks were supported by gains in the chemicals sector and strong earnings which managed to offset continuous credit market concerns. ICI rose 7.2% after it rejected a second all-cash offer from Dutch chemicals group Akzo Nobel. Germany closed up 0.1% at 7,456.31, France ended unchanged and the U.K.''s fell 0.2% to 6,206.10. |
|
|
Full Story... |
Lexmark, Apple Drag Tech Stocks Down
Jul 30, 12:13 PM EDT |
|
| Amro withdrew its recommendation of a takeover bid from Barclays citing the current value of the U.K. lender's offer. |
|
| U.S. stocks continued to trade in a lackluster fashion, as traders remained somewhat concerned about the outlook for the markets after the heavy sell-off last week. However, deal news and strong financial results at HSBC Holdings helped limit the downward trend. Computer hardware sector posted a notable decline, with Lexmark falling 4% and Apple losing 2.5%. Oil service, airline, and biotech stocks also came under pressure. |
|
|
Full Story... |
RadioShack Drops 10% on Weak Sales
Jul 30, 11:07 AM EDT |
|
| South Korean Doosan Infracore agreed to buy Ingersoll-Rand's Bobcat construction equipment unit for $4.9 billion. |
|
| Strong earnings from some retailers helped limit losses. Health benefits provider Humana jumped 3% and the world''s biggest meat producer Tyson gained 3.3% after posting better-than-expected Q2 results. However, shares of RadioShack weighed on the retail sector with a decline of 10% after posting better-than-expected earnings but 15% lower sales. |
|
|
Full Story... |
Banks Rally in India Trading
Jul 30, 10:50 AM EDT |
|
| State Bank of India and Tata Steel report higher earnings. Banks rallied on earnings. |
|
| Earnings report from State Bank of India and ahead of RBI credit committee meeting lifted banks in Monday trading. Sensex otherwise edged fractionally higher. Tata Steel reported 28% increase in earnings. Hindustan Unilever soared on the stock buyback authorization. Mahindra & Mahindra earnings fell. Reliance Energy was awarded 4,000 MW power plant Sasan project. Asian markets broadly rallied led by 2.2% rise in Shanghai index. |
|
|
Full Story... |
HSBC Profit Rises 25%
Jul 30, 10:11 AM EDT |
|
| Tyson Foods Inc., the world's biggest meat producer, posted Q2 profit that beat analyst forecasts. The stock added 1.4%. |
|
| Wall Street opened in the positive but soon afterwards declined as market failed to sustain the upward move after last-week selloff. Solid results from HSBC Holdings brought some relief as the biggest European bank reported a 25% profit rise and said bad debts in the U.S. were nearly the same as last-year levels. The stock rose 3.2%. Deal news failed to offset negative sentiment. South Korean Doosan Infracore agreed to buy Ingersoll-Rand''s Bobcat construction equipment unit for $4.9 billion. |
|
|
Full Story... |
U.S. Stock Futures Point to Recovery
Jul 30, 9:15 AM EDT |
|
| Crude oil futures fell 44 cents to $76.58 a barrel. The U.S. dollar declined versus the euro and the yen. |
|
| U.S. stock futures pointed modestly higher Monday, with markets trying to recover from heavy losses and four-year lows amid continued concerns in the credit market. Among pre-market highlights, American Home Mortgage dropped 43% after the company delayed the payment of its quarterly dividend. In earnings news, ValueClick fell 16% after it cut its earnings outlook, Verizon posted an in-line 6% profit rise and Humana said its earnings more than doubled. |
|
|
Full Story... |
Europe Trades Lower at Mid-day
Jul 30, 8:46 AM EDT |
|
| European makrets decline after a week of losses in the region tracking global markets. HSBC Bank increased loan loss provision by 63%. |
|
| Market averages in Europe trade lower across the region ahead of New York opening. Telefonica, HSBC, and Statoil earnings news dominated in local exchanges. Higher steel stocks in Japan lifted select metals stocks in European trading. HSBC earnings jump 24% on 23% rise in revenue. Telefonica earnings gain on one time sale of assets. Latin American divison led in the revenue gains for the company. Germany and Spain led the indexes lower across the region. |
|
|
Full Story... |
Shanghai Lead Asian Rebound
Jul 30, 8:04 AM EDT |
|
| Asian marrkets managed to recover on rising steel stocks in Japan. South Korea makes its largest foreign acquisition. |
|
| CSI 300 Index in Shanghai led the rebound in the region with a gain of more than 2%. Singapore, Hong Kong, and Korea led the advancing markets in the region. Thailand and Taiwan remained weak. Liberal Democratic Party loss of control in the upper house election may create more legislative chaos in Japan. HSBC rerported first half earnings gain of 24% on 23% increase in sales. Korea based Doosan Infracore has agreed to purchase construciton vehicle business from Ingersoll Rand. |
|
|
Full Story... |
Verizon to Buy Rural Cellular for $2.7 B
Jul 30, 7:57 AM EDT |
|
| Rural Cellular surged 17.5% in pre-market trading after Verizon Communications agreed to acquire it for $2.7 B. |
|
| Verizon Communications announced Monday it agreed to acquire Rural Cellular Cop. in a deal worth $2.7 billion, or $45 a share. The transaction represents a premium of $13.19, or 41% over Rural Cellular''s Friday close of $31.81 a share. Verizon also reported positive Q2 2007 financial results on higher margins and rising revenue in wireless, broadband, data, video and global IP markets. |
|
|
Full Story... |
Steel Stocks Pare Tokyo Losses
Jul 30, 7:09 AM EDT |
|
| Strong earnings from steel companies helped market average to pare its early morning lossees. JFE Holdings earnings jump 63%. |
|
| Nikkei index fell nearly 1.5% in the morning hours trading but managed to close at fractional loss. The earnings from steel companies Nippon Metal, Nippon Steel, JFE Holdings lifted the sentiment. The companies reported rising sales and solid improvement in earnings for the first quarter results. Mitsubishi Electric reported earnings gain of 87% on 6% rise in sales. Export sensitive stocks led by Canon and Sony fell. |
|
|
Full Story... |
|
|
