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Nasdaq UP 9, Dow Up 83
Sep 01, 6:04 PM EDT |
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| Payroll in August rose 128,000 and unemployment dipped to 4.7% in the month. Auto sales at GM and Toyota increased but at Ford and Chrysler fell. |
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| Light trading volume and non-farm payroll datadominated trading environment in the session. Market averages rose in the monring and mainted the upward bias for the day. The three popular indexes closed near the high for the day. GM reported 3.9% rise in auto sales in August and sales at Ford dropped 12% and at Chrysler dropped 4.2%. August payroll rose at a moderate rate but July construction spending dropped 1.2%. Brazil stock market index surged 3%. |
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Europe Ends at Three-Month High
Sep 01, 12:52 PM EDT |
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| Swedish Capio AB rose 35% after getting an unsolicited takeover bid of 15.6 B Swedish krona from private equity firms Apax Partners & Nordic Capital. |
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| European markets finished at a three-month high on Friday, supported by well received U.S. job-creation data that helped ease interest-rate fears and corporate news from French drug maker Sanofi-Aventis. Regional gainers were led by London FTSE 100 with an advance of 0.7%, followed by the French CAC 40, up 0.4%, and the German DAX 300, up 0.3%. |
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Summa Surges 73% on Bid Offer
Sep 01, 12:09 PM EDT |
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| Crude oil declined 31 cents to $69.95 a barrel on the Nymex. The dollar fell against other major currencies. Gold prices rose. |
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| Summa Industry shares soared 73% after the company agreed to be acquired by Habasit Holding AG, a private Swiss firm, for $15 per share. OmniVision Technologies fell 7.3% despite reporting Q1 net income rose 28 cents a share from 25 cents a share last year on revenue growth. |
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Sensex at Three-Month High
Sep 01, 10:44 AM EDT |
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| India bucked mixed Asian markets advancing Friday, fueled by auto stocks and smooth expiry of derivatives contracts. Wholesale inflation rose to 4.91% |
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| The market witnessed a sustained rise today, as investors showed renewed interest in blue-chips. Reports that the government has decided against an increase in domestic fuel prices supported the Sensex. Auto stocks led the gainers, while select software and telecom stocks sank. ICICI added 2% and Reliance Industries also edged up. The wholesale index in the last twelve months jumped to 4.91% from 3.71% a year ago. |
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Bristol-Myers Gains 4.8%
Sep 01, 10:24 AM EDT |
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| Dow component Intel Corp. moved higher 1.2% amid reports that it would slash up to 20,000 jobs next week. |
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| Stocks opened higher Friday on news that wage inflation was tamer-than-expected in August. Another report showed that construction spending fell 1.2% in July following an upwardly revised 0.4% increase in June. Economists had expected spending to come in unchanged compared to the 0.3% increase originally reported. Bristol-Myers Squibb rose 4.8% after a judge blocked sales of a generic form of the drug maker''''''''s blood-thinning drug, Plavix, citing possible patent infringement. |
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August Jobs Growth Lifts Futures
Sep 01, 9:03 AM EDT |
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| The Labor Department said that U.S. nonfarm payrolls grew by 128,000 jobs in August, in line with expectations. |
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| The employment report showed that U.S. firms continued to hire workers at a steady, but moderate pace in August. The unemployment rate inched lower to 4.7% in August from 4.8% in July. Average hourly earnings rose by 2 cents, or 0.1%, to $16.79. Average wages were expected to rise 0.3%. |
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Integraph to Be Bought for $1.3 B
Sep 01, 8:16 AM EDT |
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| Intergraph Corp, a provider of specialty software, agreed to be bought by a group of private-equity investors in a deal worth around $1.3 billion. |
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| Under terms of agreement the investor group, led by Hellman & Friedmand and Texas Pacific Group, will pay $44 for each share. The deal represents an 18% premium over Thursday''s closing price and a 22% premium over the stock''s average closing price for the last 20 trading days. Following the news Intergraph''s stock jumped 15% in evening trading Thursday. |
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Tech Stocks Pull Japan Down
Sep 01, 7:30 AM EDT |
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| Asian markets finished mixed Friday, as blue-chip technology companies such as Canon Inc and Konica Minolta slipped, pushing Japan down. |
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| The Nikkei 225 Average ended the session in negative territory with the tech sector broadly down. Taiwan and Indonesia witnessed selected buying, as fair amount of money is probably finding its way back into Taiwan going from the South Korean market where some cash is being taken out. Shares in Australia, Singapore and South Korea traded flat. |
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U.S. Payrolls Support Europe
Sep 01, 6:30 AM EDT |
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| European markets advanced on Friday awating the latest US employment data, which would give clues to the outlook for US interest rates. |
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| European stocks reported modest gains on Friday ahead of key U.S. economic data, supported by strength in the health care sector after French drug maker Sanofi-Aventis won a patent case for its Plavix blood thinning treatment. The U.K. FTSE 100 index edged up 0.2%, the German DAX Xetra 30 index rose less than one percentage point and the French CAC-40 index gained 0.2%. |
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Silver Surges
Sep 01, 5:19 AM EDT |
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| Silver futures soared to their highest level in three months on Thursday on good investment demand. |
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| In the case of silver, investors attributed the surge to strong investment demand a day after the amount of metal held by an exchange-traded fund peaked above 100 million ounces. Gold followed, supported by both silver and a sharp gain in copper. Continuing tension over nuclear program of Iran was another factor boosting the precious metals. |
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