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October 31, 2006
by Elaine Frei
Wall Street was flat to slightly lower at mid-session on Tuesday on new data showing that US consumer confidence dropped to 105.4 in October, down from a revised reading of 105.9 in September. The Dow Jones Industrial Average was 0.3 percent lower to 12,048.71, while the Nasdaq Composite was virtually flat after losing only 0.06 points to 2,363.71 and ...
by Elaine Frei
The London equities markets were higher on Tuesday, but barely so, with the FTSE 100 adding a bare 0.04 percent to 6,129.2 and the FTSE 250 ending the session 0.6 percent higher to 10,372.2.
Friends Provident helped the 100 with its 6.7 percent gain to 207p after its third quarter report did better than had been anticipated. The life assurer also ...
by Elaine Frei
In Europe on Tuesday, the FTSE Eurofirst 300 dropped 0.6 percent to 1,444.16 as banks saw losses.
UBS dropped 5.1 percent to SFr74.30 after it said it saw net profits drop by 21 percent in the third quarter. It still insisted, however, that sentiment has improved and it will fulfill expectations for full-year profits. Credit Suisse was also lower, falling 1.3 ...
by Elaine Frei
Tokyo’s equities markets were mixed on Tuesday, with the Nikkei 225 0.3 percent higher to 16,399.39 but the Topix index dropping 0.2 percent to 1,617.42 on the session.
The banking sector was 1.2 percent lower as a whole as the possibility of interest rates going up again has declined amid domestic economic data which hasn’t lived up to expectations. Meanwhile, the ...
by Elaine Frei
Crude oil prices were down again on Tuesday, although the declines were not as pronounced as the 4 percent drop on Monday. Part of the price declines came as analysts and traders continue to doubt that the OPEC production cuts slated to be implemented beginning Wednesday will actually materialize. So far, only Saudi Arabia and ...
October 30, 2006
by Elaine Frei
The London equities markets were lower on Monday, with the FTSE 100 dropping 0.5 percent to 6,126.8 and the FTSE 250 falling 0.4 percent to 10,308.6.
In the pharmaceuticals sector, Shire dropped 2.8 percent on the session to 940p on profit-taking. Shire is up 45 percent on the year so far.
Wolfson Microelectronics dropped 3.9 percent to 292¼p after McCall, Aitken, McKenzie, ...
by Elaine Frei
Declines in the oil and automobile manufacturing sectors sent the FTSE Eurofirst 300 0.3 percent lower on Monday to 1,445.8. Carmakers were lower on profit taking, while oil stocks dropped on falling crude oil prices.
In the automobile manufacturing sector, BMW dropped 1.2 percent to €44.64 and Fiat declined 1.3 percent to €13.68. Peugeot was 1.5 percent ...
by Elaine Frei
Crude oil prices were down sharply on Monday as investment funds got rid of their exposure to the sector ahead of Organization of Petroleum Exporting Countries production cuts, due to go into effect on November 1. More than 52,000 contracts were sold, according to the Commodity Futures Tradning commission, as speculators divested themselves of long positions, which bet that ...
by Elaine Frei
Sterling strengthened on Monday after new data showed that house prices in the UK rose at their fastest rate in two years in October and mortgage approvals were at their highest in two and a half years in September. Both reports appeared to indicate that the Bank of England will raise interest rates again when its monetary policy committee ...
by Elaine Frei
US Treasury bonds saw prices drop and yields rise after Jeffrey Lacker, the president of the Richmond, Virginia Federal Reserve bank made comments indicating that interest rate hikes were not out of the question, that there was still pressure toward inflation, and that the economy could be tightened further. Mr. Lacker was the only one to vote ...
October 27, 2006
by Elaine Frei
The FTSE Eurofirst 300 was up 0.2 percent over the week to 1,448.46 for its fifth week in a row of positive movement.
The automobile manufacturing sector was up on pleasing quarterly reports. Fiat added 0.3 percent over the week to €13.86, while Renault gained 1.3 percent to €90.90 and DaimlerChrysler was 4.5 percent higher to €43.27.
In ...
by Elaine Frei
In Tokyo on Friday equities markets were lower as new consumer price information showed that the Japanese economy might not have completely emerged from deflation, with core consumer prices in September up by only 0.2 percent. The new data makes it fairly certain that the Bank of Japan will not raise interest rates anytime soon.
The Nikkei 225 ended the ...
October 26, 2006
by Elaine Frei
The New York equities markets were mixed at midday on Thursday on new concerns that the housing market in the United States is continuing to slow. The Dow Jones Industrial Average had dropped 0.1 percent to 12,120.19 and the S&P 500 was 0.02 percent lower to 1,381.98. The Nasdaq Composite was 0.03 percent higher to 2,375.4.
Pulte Homes reflected ...
by Elaine Frei
Despite gains in the telecommunications sector, the FTSE Eurofirst 300 was lower on Thursday, dropping 0.2 percent to 1,452.33.
Telefonica added 1.6 percent to €14.85, while Deutsche Telekom gained 2.1 percent to €13.22 and Cosmote of Greece was 2.6 percent higher to €18.98. France Telecom was up 3.6 percent to €20.10 on a gain of 3.5 percent in underlying profits thanks ...
by Elaine Frei
Crude oil prices were lower on Thursday but remained at or above the $61 per barrel level. The declines came after Wednesday saw the biggest one day price gain in seven months on reports that inventories had dropped much more than had been expected last week. The lower prices also came despite the fact that Iran ...
by Elaine Frei
The US dollar weakened on Thursday, following the decision by the Federal Reserve on Wednesday to keep interest rates at 5.25 percent for another month. Perhaps even more influential than the decision not to alter the rate were the comments that accompanied the announcement, which was not sufficiently concerned about the possibility of inflation for some analysts and investors. ...
by Elaine Frei
Government bond prices were up and yields fell on Thursday in response to a decision by the US Federal Reserve to keep interest rates steady for the time being as well as its comments following the decision that did not sound too strong a warning on inflation. Also helping prices higher was new data on durable goods ...
October 25, 2006
by Elaine Frei
The London equities markets were higher on Wednesday on gains in the tobacco and oil sectors. The oil sector was higher after US inventory numbers showed that stockpiles of crude oil, gasoline, and heating oil were all lower last week. The FTSE 100 added 0.5 percent to 6,214.6 percent, while the FTSE 250 gained 0.2 percent to close at 10,425.4, ...
by Elaine Frei
The FTSE Eurofirst 300 saw gains on Wednesday on advances in the automobile manufacturing sector. The Eurofirst added 0.3 percent to close the session at 1,454.74.
DaimlerChrysler led the way among carmakers with a gain of 4.2 percent to €43.23 on better than anticipated profits in the third quarter. While profits were down by almost 37 percent from the same ...
by Elaine Frei
Weakness in the consumer finance and securities sectors sent the Tokyo equities markets lower on Wednesday. The Nikkei 225 dropped 0.5 percent to 16,699.30, while the Topix index fell 0.6 percent to 1,653.38. There were losses in a number of other sectors as well.
In the telecommunications sector, NTT DoCoMo was down 2.2 percent to ¥180,000. Softbank dropped 2.5 percent ...
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Wall Street was flat to slightly lower at mid-session on Tuesday on new data showing that US consumer confidence dropped to 105.4 in October, down from a revised reading of 105.9 in September. The Dow Jones Industrial Average was 0.3 percent lower to 12,048.71, while the Nasdaq Composite was virtually flat after losing only 0.06 points to 2,363.71 and ...
