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Europe Closes on Positive Note
Nov 03, 12:48 PM EST |
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| Euronext., stock exchange operator, rose 4% on news that it is in talks to sell its 41.5% stake in clearing house LCH. |
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| European stock markets closed in the positive, boosted by stronger-than-expected U.S. jobs data and gains for financial Gommerzbank. The German DAX 30 advanced 0.29%, led by 4.3% rise in the shares of Commerzbank. The French CAC 40 climbed 0.49%, helped by Euronext. London FTSE 100 ended flat at 6,148.10, pressured by losses for British Airways and Rexam. |
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Rising Oil Hurts Market Mood
Nov 03, 11:53 AM EST |
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| The Institute for Supply Management said that the business activity index rose to 57.1 in October from 52.9 in September. |
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| U.S. stocks turned mixed, as a rebound in oil prices overshadowed better-than-expected jobs data. Shares of oil companies Exxon Mobil Corp. and Chevron Corp. rose 1.1% and 1.4%, respectively. At the same time, consumer-oriented stocks such as Starbucks Corp. and McDonald''s Corp. slipped 1.8% and 1%. |
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Sensex Up, Inflation Higher
Nov 03, 10:30 AM EST |
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| The market closed in an upbeat mood today, extending its recent gains on strong buying in large-cap stocks. |
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| In a highly volatile trading the Sensex ended the week higher, rebounding in the latter part of trading today from early weakness due to surging ONGC, Infosys and Reliance Industries. Cement, construction and media stocks rallied, while auto and IT shares declined. Inflation rose to over a four month high. Record foreign fund inflows were recorded in October. The Indian rupee today advanced to its highest level against the dollar in more than six months. |
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Whole Foods Drops 21% on Sales Warning
Nov 03, 10:16 AM EST |
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| Stellenet shares surged 26% after Oracle agreed to to buy the company for $440 million, or $13.50 a share, a 27% premium to its closing price. |
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| Stronger-than-expected employment data in October pushed stocks higher at opening, easing concerns about the fast pace of the U.S. economic slowdown. Economically sensitive shares such as Boeing and United Technologies Corp. advanced 1.2% and 0.7% respectively. Shares of Electronic Arts lifted the Nasdaq and the S&P 500 after the world''s largest video game publisher posted higher-than-expected quarterly revenue. Company''s shares jumped 10%. Whole Foods dropped 21% on sales warning. |
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Futures Rise on Low Unemployment
Nov 03, 9:04 AM EST |
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| Oil futures rose 30 cents to $58.18 a barrel. The U.S. dollar steeply jumped vs.. the euro and the yen. Gold futures erased recent gains. |
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| U.S. stock market futures recovered from earlier uncertainty to turn higher Friday, boosted by stronger-than-expected jobs data which showed that unemployment rate dropped to a five-year low of 4.4% in October as employers added 92,000 new jobs. Whole Foods tumbled 20% in pre-open trading after warning that next-year revenue growth will come far below this-year levels. |
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Windows and Linux to Work Together
Nov 03, 8:00 AM EST |
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| Microsoft and Novell plan to develop technology for computer systems in which Linux and Microsoft's Windows work together. |
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| Microsoft Corp. announced late Thursday that it’s willing to partner with Novell Inc. to support Novell''s version of Linux. The alliance aims mainly at the growing number of major companies and government agencies that rely on elements of Redmond, Microsoft''s Windows and Linux to operate their computers. Following the news, Novell''s shares jumped 15.7%. |
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Australia Powers Asia
Nov 03, 7:33 AM EST |
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| Asian shares were mostly in positive territory in late-morning trading Friday, led by benchmark index of Australia. |
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| Japan was closed fot public holiday. The Australian index rose to a record intraday high after National Australia Bank posted earnings. The leading index in Hong Kong also hit a fresh record on gains in mainland cellular operator China Mobile. South Korea trimmed earlier loses to finish marginally higher. Taiwan and Malaysia both gained. Singapore bucked the trend and sank. |
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Europe Advances Modestly
Nov 03, 6:31 AM EST |
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| Banks powered a modest rally for European stocks on Friday as Commerzbank in Germany reported positive third-quarter results. |
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| Apart from the upbeat results from Commerzbank, the advance was fueled by oil stocks bouncing back in spite of further losses for crude oil prices. Gains in the insurance sector also helped after some well-received earnings from Allianz of Germany. The FTSE 100 was steady as U.K. investors were weighing results from airline British Airways. By mid morning, the FTSE 100 in London was flat, Frankfurt Xetra Dax added 0.2% and the CAC 40 in Paris edged marginally higher. |
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Gold Hits Two-Month High
Nov 03, 5:16 AM EST |
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| Gold hit its highest level in two months on Thursday lower dollar due to weak economic US data. |
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| Gold futures advanced to their highest level in two months Thursday to make a two-session gain of $21 an ounce as weak U.S. economic data weighed the dollar lower against major currencies, spurring investment demand in gold. Such a bleak set of background factors, together with the complete absence of good news on the real estate market situation create a rather somber picture for the U.S. dollar and the stocks markets. |
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