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Telecoms Drag Europe
Mar 28, 1:03 PM EST |
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| Consumer Confidence Index rose to 107.2 in March from an upwardly revised 102.7 in February.Economists had expected the index to edge up to 102. |
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| European averages rebounded from earlier gains to close lower. Stocks were dragged by weakness in the telecom sector and cautiousness over interest rates increases. Upbeat economic data on German business sentiment failed to offset losses. The German DAX 30 fell 0.2%, the French CAC 40 dropped 0.6%, and London FTSE 100 lost 0.4%. |
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Oil Jumps Higher
Mar 28, 12:09 PM EST |
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| Consumer Confidence Index rose to 107.2 in March from an upwardly revised 102.7 in February.Economists had expected the index to edge up to 102. |
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| Cautiousness ahead of the Fed Reserve''s decision on interest rate hikes kept sttocks trading in a tight range. A sharp jump in crude oil prices to $65.75 contributed to solid gains in the energy sector. Notable gains were shown by Honeywell, Alcoa, and ExxonMobil. |
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Consumer Confidence Strongly Improves
Mar 28, 10:36 AM EST |
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| Consumer Confidence Index rose to 107.2 in March from an upwardly revised 102.7 in February.Economists had expected the index to edge up to 102. |
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| Stocks started trading near the flat line on cautiousness ahead of the Fed Reserve''s decision on interest rate hikes. Banks and insurers, which are interest rate-sensitive stocks, slipped. An increase in oil prices sent the energy sector 1.4% higher, but helped airline stocks move to the downside with the whole sectordown 1%. Strength in networking stocks boosted the Nasdaq, with Ciena and Tellabs standing out as the best performers. |
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GM Gains on Job Cuts
Mar 28, 10:06 AM EST |
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| Shares of General Motors Corp. rose 1% after the world's largest automaker said it will cut a few hundred salaried jobs on Tuesday. |
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| Stocks started trading near the flat line on cautiousness ahead of the Fed Reserve''s decision on interest rate hikes. Banks and insurers, which are interest rate-sensitive stocks, slipped. An increase in oil prices sent the energy sector 1.4% higher, but helped airline stocks move to the downside with the whole sector down 1%. Strength in networking stocks boosted the Nasdaq, with Ciena and Tellabs standing out as the best performers. |
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Lennar Profit up 34%
Mar 28, 9:08 AM EST |
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| Crude oil prices rose to $64.44 on supply concerns and ahead of inventory report. European gold lost ground. The dollar was mixed. |
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| Stock futures pointed to a slightly weak opening with ivestors awaiting the Fed Reserve''s decision on interest rate hikes. Homebuilder Lennar reported 34% earnings jump in Q1 on 35% revenue growth, beating expectations. Jewelery retailer Tiffany posted Q4 profit decline of 97 cents a share from $1.48 a share last year, despite sales growth, but still exceeding estimates. |
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Autos, Techs Lift Europe
Mar 28, 8:25 AM EST |
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| Shares of insurer Swiss Life fell 1.8% after it reported 44% annual profit rise. Retailer GUS fell 2.3% on plans to spin off its remaining business. |
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| European stocks traded mostly higher at mid-day, supported by auto and technology stocks. The German DAX 30 rose 0.3% on upbeat economic data, offsetting losses ahead of Fed Reserve''s decision on interest rates. The French CAC 40 gained 0.3%, while London FTSE 100 lost 0.1%. |
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Techs, Metals Support Japan
Mar 28, 7:45 AM EST |
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| At close, among tech stocks, Kyocera rose 1.5% and Advantest Corp gained 1.1%. Brokerage Nikko Cordial lost 0.5%, while Marusan Securities fell 5%. |
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| Asian-Pacific benchmarks finished mostly higher, ignoring worries about interest rate increases. The Nikkei rebounded from early weakness to rise 0.2% to 16,690.24, lifted by technology, metals and retail stocks, while bank and brokerage issues dropped. Taiwan Weighted index rose 0.5%, Hong Kong Hang Seng gained 0.3%, and Shanghai Composite addded 0.2%. |
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