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MF Global IPO Dips, Nasdaq Earnings Jump
Jul 19, 1:30 PM EDT |
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| Nasdaq Stock Market Inc earnings jump three fold on higher trading volume and listing fees. MF Global prices its IPO at $30 per share. |
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| New York averages maintained an upwards bias with less than 90 minutes of trading left. Nasdaq Stock Market reported three fold rise in earnings on 30% gain in revenue. Man Group lists its brokerage division in New York but the stock priced at $30 fell nearly 10% in the early hours of trading. Asian markets gained after four days of sell-off. European markets closed higher on earnings from Roche and SAP. |
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BHP Billiton, Rio Tinto Boost London
Jul 19, 10:12 AM EDT |
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| The U.K. benchmark index is higher Thursday, boosted by a stronger open on U.S. market and higher commodities prices. |
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| London is higher this afternoon ahead of the US open, following upbeat results from IBM pointing to a strong start on Wall Street. Miners are leading the way as commodities rose, with Rio Tinto and BHP Billiton leading the way. Vodafone lifted sentiment on a sharp rise in subscribers. The benchmark FTSE 100 Index increased 1.19%, to 6,645 in early afternoon in London. |
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Banks, IBM Lift NY Averages
Jul 19, 9:43 AM EDT |
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| Banks report higher earnings on increaed banking charges, loans and credit card fees. Network gear makers report sharply higher earnings. |
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| New York averages opened with a gain of 0.5% in Dow, Nasdaq and S&P 500. Better than expected earnings from IBM and banks lifted the trading sentiment. Continental reported sharply higher earnings beating the peers in the industry on expansion to international destinations. Avici surge 20% and Juniper Networks gain 10% at the opening on surge in earnings. Economy in china expands at 11.2% in the second quarter, fastest in 12 years. Dollar trades at historic low against euro and pound in Europe. |
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Resource, Financial Stocks Boost Asia
Jul 19, 9:20 AM EDT |
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| Asia ended higher with Japan rising on financials and Australia on stronger miners. BHP Billiton led gainers in the region. |
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| Asian markets finished higher on Thursday as miners surged on higher copper prices. Financial stocks led the rally in Japan, while HK advanced on strong first-half economic results. Banks and LG Electronics boosted the market in South Korea, and Australia settled higher on banks and resource stocks.China was little changed as reports showed that inflation was the highest in three weeks. |
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Indian Companies Look Abroad for Targets
Jul 19, 8:16 AM EDT |
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| Tata Motors is likely to bid for Jaguar and Land Rover from Ford Motor Company. Infosys is likely to bid for BPO arm of Philips. |
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| Sensex on a firm rally surged on buying in telecom, cement, energy, and auto sectors. Reliance Industries led the gainers, Infosys, Bajaj Auto and Tata Motors also rallied. There were only four decliners in the Sensex with Hindustan Unilever leading decliners. The Finance Minister said that India will continue its tight monetary policy in an effort to curb inflation. Tata Motors, Baja Auto, and Infosys are hunting for overseas acquisitions. |
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Europe Buoyed by Earnings
Jul 19, 7:10 AM EDT |
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| European shares rose Thursday as investors received well corporate updates, with the technology sector among the best performers. |
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| European markets gained for the first time in four days as strong earnings from SAP boosted the indexes, while Vodafone advanced as it announced that it added more subscribers than expected. Miners were also upbeat on higher copper prices. The market in Finland was the only decliner, while all the other were in positive territory. Of the three major markets, U.K. FTSE 100 index gained 0.8%, while the German DAX 30 index rallied 1% and the French CAC-40 index advanced 0.8%. |
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Gold Advances on Inflation Worries
Jul 19, 5:47 AM EDT |
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| Gold advanced Wednesday on the re-emergence of interest rate concern, while oil and gasoline surged on unexpected drop in stockpiles. |
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| Gold futures advanced Wednesday after Federal Reserve Chairman Ben Bernanke said that inflation is still an issue to consider, and as the dollar extended its recent decline. Other commodity markets closed mostly higher, with sharp gains in energy prices and agriculture futures. |
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Late Rally Trims Losses In NY
Jul 18, 4:20 PM EDT |
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| Late rally in New York trading trimmed losses of the day, but averages declined. Europe, Asia closed lower on falling dollar. Oil above $75. |
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| Sharp sell-off at the opening continued till the mid-day in New York -trading. Near 1% loss at mid-day left major markets in Europe with a loss of 1.5%. Falling dollar and oil above $75 did not help either. Weak earnings from Pfizer, Altria, and several airlines left most investors guessing earnings for the season. TAM Air lost 10% after one of its aircraft burst into flames and killed 200 people in Sao Paolo, Brazil.After the close, IBM reported increase of 8.6% in revenue and 12% in earnings. |
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Rising Oil, Weak Prices Drag Airlines
Jul 18, 3:02 PM EDT |
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| Weakness in New York drags markets in Europe and South America. Major markets in Europe lose more than 1.5%. Airlnes in the U.S. report weak earnings. |
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| Oii trades near $75 per barrel adding to the weakness in the trading in New York. Worries related to U.S. mortgage bonds, weak earnings from Pfizer, Altria and airlines left major averages with 1% loss. Germany, France and Swiss markets lost more than 1.5% in sympathy with the New York trading. Spain based Altadis, cigarette maker, agreed to a buyout from Imperial Tobacco for $17.91 billion. Ericsson received $2 billion contract from Bharti in India. |
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Sensex Edges Higher, Hindalco Surges
Jul 18, 8:19 AM EDT |
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| The Sensex in India finished slightly higher Wednesday with metal large-cap Hindalco leading gainers. Ericsson won a $2 bln contract from Bharti. |
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| The benchmark index saw a heavy volatile session with the Sensex going in and out of positive zone, especially in the last hour of trading. Metal, cement and real estate stocks advanced, while capital goods and sugar stocks declined. The best performer on the market were Hindalco and Bharti Airtel, while Larsen & Toubro and ONGC lost the most. Unitech announced it plans to invest $720 million in four years building 28 hotels with partners including Marriott International. |
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