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SAP Lifts Germany, Total Rises in France
Jan 14, 5:01 PM EST |
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| European financial markets struggled as euro advanced against dollar. Crude oil and precious metal prices rose for the third day in a row. |
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| German stocks closed higher after SAP reported better than expected software licensing revenue. HeidelbergCement annua profit jumped 38% after the purchase of UK based Hanson Plc. Allianz gained after it reported to reduce its stake in Munich Re and increase dividend and stock buyback. The French hotel group Accor gained ahead of earnings and construction company Eiffage soared 7% after local broker raised its rating. November industrial production in Italy fell 0.9%. |
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Oil, Gold, and Tech Stocks Lift U.S.Markets
Jan 14, 8:26 AM EST |
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| U.S. market averages rallied after investors bought tech, precious metals, and farming related stocks. |
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| U.S. stock averages rose after a rally in commodities prices and better than expected earnings from IBM. Tech stocks rose higher after IBM fourth quarter sales rose 10% and earnings gained 24%. Sandisk, Intel, Hewlett Packard, and Cisco closed higher. Sears lowered its earnings outlook for the fourth quarter hurting stocks in the retail sector. Wellcare Health Plans jumped 20% after several states renewed contracts. Gold closed above $900 and crude oil in Nymex closed up $1.49. |
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Merger Fever Dominate in Sydney
Jan 14, 3:10 PM EST |
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| MFS and City Pacific are likely to consider compbining their financial services business and spin-off travel business, Stella Group. |
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| Takover news dominated stock market in Australia today. ASX 200 index lost 0.03% or 1.16 to close at 5,980. Takeover battle heated up as Sinosteel battles for Midwest. In another protracted deal negotiations, Primary Healthcare increased its stake in Symbion to 37.5%. Allegiance Mining is likely to ask shareholders to reject an offer from Zinifex. |
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Builders Lead UK Stocks Higher
Jan 14, 1:47 PM EST |
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| UK producer price index rose to 5% on the rising cost of inputs. UK stocks edged higher led by home builders and construction companies. |
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| UK stocks closed higher led by a rise in home builders and construction stocks. FTSE 100 index gained 0.2% or 13.70 to 6,215.70. Balfour Beatty said that its full year earnings are likely to be at the top end of the earings estimates. Of the FTSE 100 index shares Hammerson led advancers with a rise of 9.27% followed by gains in Persimmon of 6.87%, in Liberty International Plc of 6.45%, in British Land Corporation of 5.06%, and in Enterprise Inns of 4.51%. UK producer price index rose to 5%. |
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Tech Rally Lifts Nasdaq 1%
Jan 14, 12:58 PM EST |
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| U.S. market averages reached higher on a rally in glod, energy, and tech stocks. IBM earnings rose 24% and Sears earnings fell 51%. |
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| U.S. market averages traded higher after a rally in tech stocks sparked after IBM reported fourth quarter earnings. Nasdaq increased 1% or 25.25 to 2,465.42 and led the other indexes. Sears plunged as much as 10% after it warned that the fourth quarters earnings may be 51% lower. Same store sales in the nine week period declined by 2.4%. Other retail stocks fell in sympathy. Gold increased $12 to $909 and oil edged 2% higher lifting metals and energy companies. |
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IBM Earnings Lift Pre-Market Mood
Jan 14, 10:33 AM EST |
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| IBM earnings lifted stocks in the pre-market tradig. Sears fell 11% after it lowered its earnings outlook. China Mobile and Apple failed to agree. |
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| U.S. stocks are indicating higher opening after a preliminary earnings report from IBM. Fourth quarter revenue increased 10% to $28.9 billion and earnings per share rose 24% to $2.80. For the full year earnings per share increased 18% to $7.18 and revenue increased to $98.8 billion. Sears fell 11% after it said that the fourth quarter earnings will be below previous estimates. |
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Hong Kong Stocks Decline 1.5%
Jan 14, 8:51 AM EST |
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| Nationalist Party in Taiwan won the election lifting China linked stocks in Taiwan. Mobile telecom stocks in Hong Kong fell. |
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| Asian markets fell across the region led by a sharp decline in Hong Kong stocks. Hang Seng index lost 1.5% or 399 to close at 26,468.13. China sets a preliminary 2008 growth target of 8% and inflation target of 4.6%. China Mobile fell after the company and Apple could agree on revenue sharing agreement between the two. Retailer Espirit in Hong Kong fell 5% after a weakness in in retail stocks in the U.S. |
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