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Lackluster Market Averages
Aug 22, 4:02 PM EDT |
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| Market averages traded higher. In the afternoon, averages declined a fraction on the hawkish talk from Fed governors. |
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| Market averages opened higher and stay in the plus column till mid-day trading. Chicago Fed President talked of the need of higher inflation and Atlanta Fed President talked of careful balance between inflation and growth. Market averages declined and never recovered for the rest of the day. Toll Bros reported 19% lower earnings and lowered annual earnings. European and Asian markets closed higher. Oil fell 30 cents and gold lost $1.20. A terrorist suspect shot dead by police in Mumbai, India. |
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AMD Gains 7%
Aug 22, 3:17 PM EDT |
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| Chip maker Advanced Micro rose 7% on the company forecast that it intends to capture 30% of global market by the year 2009. |
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| Market averages in the afternoon traded near unchanged level. The volatile indexes traded up and dow as market neared last hour trading. Trading volume on both exchanges appear to be running 40% ahead of yesterday trading. Oil stayed near $72 a barrel and gold lost $4. European markets closed fractionally higher and Asian markets closed higher. |
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Insurance Stocks Decline
Aug 22, 1:07 PM EDT |
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| Europena insurers, auto makers lost ground at close of European markets. Gold declined and oil traded a fraction lower. |
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| European markets closed higher led by a fractional rise in Germany, France and Switzerland. U.K. and norway had fractional losses. Insurance and auto maker stocks declined after German economic research institute reported growing pessimism for the economic expansion in the year 2007. The German and Italian taxes are expected to rise in the year. Swiss tor operator Kuoni reported better than expected first half result. |
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German Economic Survey Indicates Slowdown
Aug 22, 12:33 PM EDT |
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| A key survey of German economy indicated growing pessimism among analysts on the economic grwoth for the next year. |
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| Market averages in Europe closed mostly higher, despite widening belief that European economy will slow down in the next year. European nations have been struggling with stagnant growth for the last five years and already economic growth expectations are scaled back for the next year. German VAT is expected to rise to 19% from 16% next year. Industrial orders in Euro zone fell by 2.5% in June. |
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Market Retains Positive Bias
Aug 22, 12:06 PM EDT |
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| Market averages maintained a positive bias at mi-day trading. Gold declined and oil traded nearly unchanged. |
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| Market averages retained positive bias at mid-day trading. Dow up 17 points, Nasdaq up 10 points and S&P 500 up 4 points. Former star banker Frank Quattrone settles with the governmet allowing the case to be dismissed without third trial. Toll Bros. reported earnings decline of 19%. European markets closed fractionally higher led by France and Germany. |
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Indian Rupee Declines
Aug 22, 10:33 AM EDT |
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| Stock market faced volatile trading in the last hour of trading dragging nearly 1% gain to a fractional loss at close. |
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| BSE Index of 30 stocks fell at close. In the morning trading market averages rose in line with other Asian markets but failed to make a headway in the final hour of trading. Volatilite trading in the last hour led blue-chips to decline, leading to an overall negative market-breadth. Refinery stocks, as well as auto shares, plunged, weighed down by the rising oil prices. Pharma stocks, select information technoligy, cement and exporters also lost. Indian rupees falls to 44.49 to a dollar. |
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Market Trades Higher
Aug 22, 9:48 AM EDT |
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| In the early trading market averages are showing positive trend. Toll Bros report 19% lower second quarter earnings. |
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| Market averages pointed in the positive column in the first fifteen minutes of trading. Toll Bros. reported 19% lower earnings but managed to beat lowered guidance two weeks ago. Gold fell $4 in the early trading. Oil market is cautiously nervous as traders await official response from Iran. |
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Toll Bros Earnings Decline 19%
Aug 22, 9:21 AM EDT |
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| The luxury home builder reported third quarter earnings of $1.07, 19% decline on 1% loss in revenue. |
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| Market averages are expected to open lower. Toll Brothers reported third quarter earnings per share of $1.07 vs. $1.27 on revenue decline of 1%. The company also reduced the number of lots it controls by 10% and lowered its earnings guidance for the year. Oil prices in European trading were near unchaged as traders awaited formal response from Iran. |
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Japan Leads Indexes Higher
Aug 22, 7:38 AM EDT |
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| Asia finished higher Tuesday, led by Japanese Nikkei as shares of blue-chip companies recouped earlier losses. |
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| All major indexes gained on Tuesday, boosted by Japanese markets where blue-chip companies, Nikon and Honda managed to bounce back from losses in the previous session. Energy stocks also drew attention in the region, as crude-oil prices hovered above the $72-a-barrel level, rekindling hopes the sector was set for another upbeat earnings session in coming quarters. |
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European Stocks Advance Mildly
Aug 22, 6:39 AM EDT |
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| Building-related companies led to modest gains in European markets on Tuesday, as investors reacted to deal news in the sector. |
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| A better-than-expected profit at U.K. house builder Persimmon helped the market too, along with the recovery of Asian bourses and steadier oil prices. The gains were mild however due to thin trading conditions. The U.K. FTSE 100 gained 0.2%, the German DAX 30 index edged up 0.3% and the French CAC 40 index advanced 0.4%. |
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