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April 28, 2006
by Elaine Frei
Led by higher consumer spending, the US economy grew at an annualized pace of 4.8 percent in the first quarter of 2006, new data has revealed. That figure was about what analysts had expected and comes after growth of just 1.7 percent in the last quarter of 2005.
Consumer spending was up by 5.5 percent in the quarter, following a gain ...
by Elaine Frei
The London equities markets were down on Friday at the end of a losing week. The FTSE 100 declined by 0.5 percent on the day and lost 1.7 percent this week to close at 6,023.1, while the FTSE 250 was down by 0.5 percent on the day and by 0.7 percent on the week to 9,878.7.
There were notable gainers on the ...
by Elaine Frei
The Tokyo equities markets were down significantly on Friday as some export-dependent stocks and commodities both saw declines due to the strength of the yen and higher interest rates in China. The Nikkei 225 dropped 1.2 percent to 15,906.23, while the Topix index was down 0.8 percent to 1,716.43.
The automobile manufacturing sector was down on the day, with Honda losing 1.1 percent ...
by Elaine Frei
At midday on Friday, the New York equities markets were looking at a losing week, sent down primarily by news from Microsoft. The Dow Jones Industrial Average was down 0.2 percent on the week to 11,372.1 by the middle of the session, after having hit a six-year high earlier in the day. The Nasdaq Composite, meanwhile, had accumulated ...
by Elaine Frei
The FTSE Eurofirst 300 had was down on the week despite a number of companies that delivered positive quarterly earnings reports. Much of the losses were due to declines in oil companies due to falling crude oil prices. The 300 was down by 1.4 percent during the week to close at 1,377.99 on Friday.
In the oil sector, Neste Oil ...
April 27, 2006
by Elaine Frei
The Tokyo equities markets were slightly higher on Thursday as a result of positive corporate earnings reports during the week. The Nikkei added 0.3 percent to 17,114.54 and the Topix index gained 0.4 percent to 1,729.37. Both domestic and export-dependent sectors saw advances on the day.
Automobile manufacturer Honda, reported record net profits for the fifth year in a ...
by Elaine Frei
In Europe on Thursday, the FTSE Eurofirst 300 was down by 0.6 percent to 1,383.20 as the day’s trading session closed. The oil and utilities sectors were down on lower oil prices, and the oil and mining sectors were affected by the news that China had raised interest rates unexpectedly. On the other hand, the insurance sector saw ...
by Elaine Frei
The London equities markets ended lower on the day Thursday on sell-offs in the mining sector and declines in oil as crude prices fell. The FTSE 100 was down 0.73 percent to 6,060 and the FTSE 250 dropped 0.72 percent to 9,925.6.
Some of the biggest gainers on the day were in the online gaming sector. The advances came after ...
by Elaine Frei
Base metals and oil saw prices decline on Thursday, while precious metals were generally up on the day. The declines in base metals were principally due to the news that China had raised interest rates, triggering worries that commodities demand could decline in that Asian nation. The worries, and the declines, came even though some analysts maintained that higher interest ...
by Elaine Frei
In testimony before the US Congress on Thursday, Federal Reserve Chairman Ben Bernanke said that it is his belief that economic growth in the US will become more moderate as the year progresses and that this will put growth at a “more sustainable” level. He also said that at some point the Fed will likely wait out a month or ...
April 26, 2006
by Elaine Frei
Earnings reports trumped fears of further interest rate hikes to send Wall Street higher at midday on Wednesday. The Dow Jones Industrial Average was up to 11,352.59, a jump of nearly 70 points, while the Nasdaq Composite was up 2.17 points to 2,332.47 and the S&P 500 gained 4.96 points to 1,306.70. The interest rate concerns came after durable ...
by Elaine Frei
In London on Wednesday the FTSE 250 went above 10,000 for the first time although it ended just below that level at 9,997.6, a gain of 0.3 percent on the day. The FTSE 100 also added 0.3 percent on the day to close at 6,104.3. The 100 benefited from gains in the financial sectors, while homebuilders helped the ...
by Elaine Frei
The FTSE Eurofirst 300 added 0.26 percent on Wednesday to close at 1,390.96. Earnings news from several sectors helped the Eurofirst stay in positive territory.
The semiconductor sector did well after Infineon reported its first profit in four quarters, on its automotive, industrial, and memory units. The German chipmaker was up 0.9 percent to €9.59. Elsewhere in the sector, Philips ...
by Elaine Frei
Crude oil prices were down after a US inventories report that showed crude oil stockpiles down by 200,000 barrels in the week ending April 21, approximately the drop that had been expected. Despite the decline, crude oil inventories are at the highest levels in 8 years. Gasoline inventories were also down, for the eighth week in a row, but ...
by Elaine Frei
Strong new economic data in the United States on Wednesday did not help the dollar in its slide against the euro. The dollar was weaker not only in relation to the shared currency, but versus the Japanese yen and sterling as well.
Among the new data reported on the day was a hike in durable goods orders of 6.1 percent in ...
April 25, 2006
by Elaine Frei
The FTSE Eurofirst 300 was down 0.1 percent to 1,387.35 on Tuesday despite gains in the automobile manufacturing sector.
Swiss luxury goods manufacturer Richemont dropped 3 percent to SFr64.15 on profit taking after it reported that annual sales was up 17 percent due to growth in its jewelry and watch making units. Richemont’s shares have added 16 percent since the beginning of the ...
by Elaine Frei
The Tokyo equities markets recovered on Tuesday, as the Nikkei 225 added 0.33 percent on the day to 16,9790.29 and the Topix index was up 0.52 percent to 1,719.73. The Nikkei had lost 500 points on Monday, its largest one-day decline this year, on worries about a strengthening yen.
The banking sector was up on the day, with Mitsubishi UFJ gaining ...
by Elaine Frei
The London equities markets were mixed on Tuesday as the FTSE 100 was hurt by a declining oil sector but the FTSE 250 was helped out by bid rumors in the homebuilding sector. The 100 dropped 0.2 percent to 6,086.6, while the 250 added 0.1 percent to 9,966.9.
Oil exploration company Cairn Energy was down 2 percent to £23.70 on lower oil prices ...
by Elaine Frei
Metals prices were on the rise again on Tuesday, with copper, nickel, and zinc all hitting new record highs on the day.
Three-month copper on the London Metal Exchange was as high as $7,230 per tonne during the day on news of a new miners’ strike, this time in Chile. Also contributing to the rise in price was the fact that ...
by Elaine Frei
New data on inflation and business confidence out of Germany sent government bond yields in the Eurozone higher on Tuesday. Energy prices on the rise and strong business activity sent inflation in Germany up by 0.5 percent in April, which was considered to be an indication that inflation in the rest of the region might also be up. Higher inflation is ...
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Led by higher consumer spending, the US economy grew at an annualized pace of 4.8 percent in the first quarter of 2006, new data has revealed. That figure was about what analysts had expected and comes after growth of just 1.7 percent in the last quarter of 2005.
Consumer spending was up by 5.5 percent in the quarter, following a gain ...
