|
|
|
Europe Gains on Oil and Retailers
Nov 07, 1:17 PM EST |
|
| Media company Vivendi shares declined 2.3% amid lower-than-expected Q3 sales. |
|
| European stock markets finished higher, as oil prices surpassed $60 a barrel and gains in the retail sector countered weakness among media stocks. The French CAC 40 led regional gainers, closing up 0.55%, supported by oil giant Total. The German DAX 30 added 0.17%, supported by shares in apparel maker Puma. London FTSE 100 closed up 0.06%, helped by 6.3% rise by shares of retailer Mark & Spencer. |
|
|
Full Story... |
Dow Hits New High, Nasdaq Rallies
Nov 07, 11:46 AM EST |
|
| Shares in RealNetworks surged 8% after it said Q3 profit nearly quadrupled on a strong demand for its games. |
|
| U.S. stocks sharply jumped, with the Dow Jones Industrial Average hitting a new all-time high and the Nasdaq rising to a six-year peak. The broad rally was contributed by optimism over corporate earnings and the health of the economy which offset concerns about the outcome of the congressional elections. Cisco supported the Nasdaq, rising 1.26% as brokerage UBS raised its price target for the stock. |
|
|
Full Story... |
Pause In Sensex 4-Day Rally
Nov 07, 10:44 AM EST |
|
| Profit-taking in large-caps weighed down on Sensex in a volatile session. Economy is expected to maintain growth rate higher than 8%. |
|
| Volatility put an end to four straight sessions of market gains. Profit-taking in the latter part of trading in select large-caps, such as Reliance Industries, ICICI Bank and Bharti Airtel forced the benchmark index lower. Gujarat Ambuja led the advancers, while Hero Honda and Bajaj Auto declined the most. The government is likely to cut petrol and diesel prices. Finance Minister confirmed the economy will continue to grow at more than 8% annually. |
|
|
Full Story... |
Elections Lift Market Sentiment
Nov 07, 10:17 AM EST |
|
| Homebuilder Beazer Homes USA Inc. fell after it posted a 44% drop in quarterly earnings due to lower demand for new homes. |
|
| Stocks advanced modestly at opening, as traders awaited the outcome of mid-term congressional elections that could be favorable for the Democrats. Toyota Motor provided a boost in early trading after reporting quarterly profit up 34%. Applied Materials helped tech stocks up after Bank of America raised its price target on the chip maker. The stock rose 1.85%. |
|
|
Full Story... |
Marks & Spencer Boosts London
Nov 07, 9:32 AM EST |
|
| The FTSE 100 advanced on Tuesday as the interim earnings of Marks and Spencer impressed investors and boosted retailers. |
|
| Clothing and food retailer Marks & Spencer led the advancers on the FTSE 100 on the back of interim figures that came in right at the top of forecasts. Yellow Pages owner Yell led the decline after pre-tax profit fell. Associated British Foods reported a drop in full year profit after price pressures in its EU sugar businesses. Brewer Scottish & Newcastle also declined despite saying results for the third quarter have been robust. The FTSE 100 moved 0.1% higher to 6,232.5. |
|
|
Full Story... |
Toll Bros Cuts Forecast
Nov 07, 9:11 AM EST |
|
| Crude oil futures lost 11 cents to $59.91 a barrel. The U.S. dollar was weak vs. its rivals. Gold futures slipped 40 cents to $627.50 an ounce. |
|
| Following last session''s strong rally, U.S. stock futures pointed to a flat opening Tuesday as voters headed to the polls for the mid-term Congressional elections. Toll Brothers dropped 2.25% in pre-market trading, as it cut its home delivery forecast for 2007, and reported a 10% decrease in Q4 home building revenue. Elsewhere, Toyota Motor reported a 36% jump in Q1 earnings and lifted its earnings outlook for the year. |
|
|
Full Story... |
GM Revises Q3 Loss Down
Nov 07, 8:10 AM EST |
|
| General Motors Corp. announced Tuesday that its Q3 loss was cut by $24 million to $91 million, according to a SEC filing. |
|
| The company previously reported that its Q3 loss was $115 million, or 20 cents per share. The narrower profit loss was attributed to additional loan sales that had not been previously reported by its GMAC arm. GM shares rose 0.14% to $34.75 in after-hours trading. |
|
|
Full Story... |
Asia Rallies
Nov 07, 7:31 AM EST |
|
| Asian markets closed sharply higher Tuesday, as indexes in Hong Kong and Australia hit new all-time highs. |
|
| The Nikkei 225 Average in Japan advanced on Sony gains. Investors shrugged off worries over the fundamental midterm congressional elections later Tuesday in the U.S. to concentrate instead on strong gains on US markets. The Hang Seng Index in Hong Kong crossed the 19000-point level for the first time. Australia set a fresh intraday record before retreating slightly. All the other regional markets finished in the green, but for India. |
|
|
Full Story... |
Europe Hits 5-Year High
Nov 07, 6:31 AM EST |
|
| European markets struck five-year highs Tuesday on oil stocks and banks after a strong rally on US market overnight. |
|
| European stocks advanced on Tuesday morning after some positive comments on the U.S. economy from a Federal Reserve official, countering some early earnings-related weakness from companies such as French media giant Vivendi. Oil stocks rose after a bounce in crude oil prices overnight and supported energy shares. By mid morning, London FTSE 100 was flat, Frankfurt Xetra Dax added 0.1%, and the CAC 40 in Paris gained 0.3%. |
|
|
Full Story... |
Profit-Taking Sends Gold Lower
Nov 07, 5:23 AM EST |
|
| Profit-taking weighed gold futures slightly down Monday, while silver gained due to technically oriented buying. |
|
| The late-Friday release of Commodity Futures Trading Commission data showed a jump in the net long position of speculative positions. The large noncommercial market participants raised their holdings in Nymex gold for the first time in eight weeks to 64,716 lots as of last Tuesday, compared with 56,050 the prior week. It wouldn not surprising if the publication of the data on Friday has finally encouraged some profit-taking. The market is holding up very well, given the recent run. |
|
|
Full Story... |
1
 |
|
