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September 29, 2006
by Elaine Frei
Wall Street was mixed at midday on Friday after strong gains early in the week. Mid-session found the Dow Jones Industrial Average even for the day but 1.9 percent higher on the week at 11,723.10. The Nasdaq Composite was 0.1 percent higher on the day and 2.4 percent higher for the week at 2,272.52, while ...
by Elaine Frei
The FTSE Eurofirst 300 added 1.9 percent during the week to close at 1,396.45 on Friday, driven largely by activity among Spanish stocks. The activity made Spain’s IBEX-35 index the top performer in Europe over the week with a 4.4 percent gain to 12,934.7. The IBEX was as high as 13,001.6 at one point on Friday.
In the utilities ...
by Elaine Frei
The Tokyo equities markets were up on Friday as the Nikkei 225 added 0.6 percent to 16,127.58 and the Topix index gained 0.5 percent to 1,610.73.
The real estate sector was up 1.8 percent as a whole as there were more indications that property prices are on the rise. Mitsubishi Estate was 2.2 percent higher to ¥2,580.
Softbank added 7.2 percent on ...
by Elaine Frei
The US dollar was stronger during the week after the US core personal consumption expenditures deflator figures in August were higher than had been expected. The deflator, which is the Federal Reserve’s favorite measure of inflation, was at its highest annualized rate in eleven years. The greenback was 0.9 percent higher versus the euro, to $1.2661, while it ...
September 28, 2006
by Elaine Frei
The New York equities markets were lower at midday on Thursday as the recent rally seemed to have run out of steam. The Dow Jones Industrial Average was 0.2 percent lower to 11,667.06 after reaching 11,724.86 earlier in the session. The Nasdaq Composite had also dropped 0.2 percent to 2,255.72, while the S&P 500 had fallen 0.1 percent ...
by Elaine Frei
The European equities markets were up again on Thursday as bids rumors continue to circulate in a number of sectors. The FTSE Eurofirst 300 added 0.1 percent on the session to 1,398.00.
In the utilities sector, Endsea dropped 1.8 percent to €34.39 after Eon raised its bid in response to Spanish conglomerate Acciona’s purchase of 10 percent of Endsea. ...
by Elaine Frei
Crude oil prices were up sharply on Thursday on rumors that the Organization of Petroleum Exporting Countries had reached an informal agreement on a production cut. Saudi Arabia has already started cutting production and it is believed that Nigeria will cut its production by 5 percent beginning October 1. November contracts for Brent crude added $1.32 to ...
by Elaine Frei
Sterling was weaker on Thursday after the UK Office for National Statistics admitted that it had made an error in calculating overall inflation for goods and services produced in the UK and cut its estimate of that inflation from 3.4 percent to 2.2 percent. After the admission, sterling dropped 0.7 percent to £0.6772 against the euro and it fell 0.8 ...
September 27, 2006
by Elaine Frei
New York equities markets were higher at midday on Wednesday, with the Dow Jones Industrial Average close to its record closing high, set on January 14, 2000. The Dow was up 0.4 percent to 11,712, while the Nasdaq Composite was 0.35 percent higher to 2,269 and the S&P 500 1,339. The gains were helped by new data showing that new ...
by Elaine Frei
In London on Wednesday, equities markets were higher in reaction to gains in the Dow Jones Industrial Average in New York. The FTSE 100 added 1 percent to 5,930.1, while the FTSE 250 was up 0.7 percent to 9,911.9.
Miners were up on the session after comments from Deutsche Bank that recent declines were larger than were warranted. BHP Billiton ...
by Elaine Frei
The Tokyo equities markets saw substantial gains on Wednesday, with gains in most sectors. The Nikkei 225 added 2.5 percent to 15,947.87, while the Topix index was 2.7 percent higher to 1,591.04.
The real estate sector was up 2.9 percent as a whole. Mitsui Fudosan gained 2 percent to ¥2,595, while Mitsubishi Estate was 3.4 percent higher to ¥2,465 ...
by Elaine Frei
After early gains on Wednesday, crude oil prices were lower again after the US Energy Information Administration’s weekly inventories report showed that crude oil stockpiles were lower but not down nearly as much as had been expected, while gasoline inventories were up substantially more than had been forecast. Distillates inventories were also higher.
Crude oil inventories were down ...
by Elaine Frei
Comments from new Japanese finance minster Koji Omi sent the yen lower in relation to the euro on Wednesday. He proclaimed himself “not an expert” on foreign exchange markets but allowed that currency rates should “reflect economic fundamentals”. He also said that the markets should not move based on his comments, but that did not stop them from ...
September 26, 2006
by Elaine Frei
The equities markets were up in London on Tuesday, helped by new data that shows consumer confidence in the United States up more than had been expected in September. The FTSE 100 was 1.3 percent higher to 5,873.6, while the FTSE 250 gained 0.9 percent to 9,844.9. Mergers and acquisitions speculation was another driving force on the session.
In ...
by Elaine Frei
The FTSE Eurofirst 300 was 1.4 percent higher on Tuesday to 1,389.25, its highest close in over four months. Mergers and acquisitions again furnished most of the action, joined by gains in the oil sector after crude oil prices rose a bit overnight.
The proposed Scania/MAN merger again made news as Volkswagen, the largest shareholder in Scania, came out against the deal. ...
by Elaine Frei
The Tokyo equities markets were lower on Tuesday, falling on declines in export-focused stocks. Transport stocks were also lower after an overnight rise in crude oil prices. The Nikkei 225 was 0.5 percent lower to 15,557.45, while the Topix index dropped 0.7 percent to 1,549.41.
Oil and commodities stocks were higher on the gains in the prices of oil ...
by Elaine Frei
Government bonds markets saw yields up in the US, the UK and the Eurozone, while yields on Japanese government bonds were lower on Tuesday.
In the United States, a strong consumer confidence report sent Treasury bond yields up after three days of declines which had been prompted by the decision of the Federal Reserve to keep interest rates on hold for the time ...
September 25, 2006
by Elaine Frei
The New York equities markets were mixed at midday on Monday on news from several sectors. Both the Dow Jones Industrial Average and the S&P 500 were lower, by 0.1 percent each to 11,497.13 and 1,314.15 respectively, while the Nasdaq Composite had added 0.2 percent to 2,222.94.
Crude oil futures that fell below $60 per barrel sent the oil sector ...
by Elaine Frei
Despite gains in several sectors due to continuing mergers and acquisitions news and rumors, the FTSE Eurofirst 300 dropped 0.1 percent to 1,370.04 on Monday as crude oil prices continued to decline.
Speculation that Spanish construction company OHL was discussing a possible merger with French peer Eiffage sent Eiffage 3.6 percent higher to €78.25. OHL added 4 percent to €15.75. ...
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Wall Street was mixed at midday on Friday after strong gains early in the week. Mid-session found the Dow Jones Industrial Average even for the day but 1.9 percent higher on the week at 11,723.10. The Nasdaq Composite was 0.1 percent higher on the day and 2.4 percent higher for the week at 2,272.52, while ...
