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October 25, 2006
by Elaine Frei
Crude oil prices were significantly higher on Wednesday after the US Energy Information Administration released figures showing that crude oil, gasoline, and heating oil stockpiles were all lower in the week ending October 20. Crude stockpiles had been expected to rise due to maintenance work that took US refinery utilization down to 86.2 percent last week, from 86.3 percent ...
by Elaine Frei
The euro gained strength on Wednesday on the heels of a new business confidence survey out of Germany. The Ifo business climate index was at 105.3 in October, up from 104.9 in September. The index had been expected to drop to 104.5. Analysts said that the growth indicated in the new data encouraged the belief that ...
October 24, 2006
by Elaine Frei
The New York equities markets were mixed in early afternoon trade on Tuesday. The Dow Jones Industrial Average was 0.02 percent higher to 12,118.91, while the Nasdaq Composite had dropped 0.4 percent to 2,342.22 and the S&P 500 was 0.1 percent lower to 1,375.57. The activity was a result of several factors, including a lack of new economic data, ...
by Elaine Frei
Equities markets on London were higher on Tuesday, with the FTSE 100 adding 0.3 percent to 6,182.5 and the FTSE 250 finishing at a new high of 10,401.6, a gain of 0.4 percent on the session.
Retailers were higher. J Sainsbury added 1.2 percent to 396¾p after bids rumors surfaced late in the session, with private equity said to be interested. ...
by Elaine Frei
In Europe on Tuesday, the FTSE Eurofirst 300 ended slightly lower, down 0.1 percent to 1,449.5
Banks were mixed on the session, with Erste Bank 1.6 percent higher to €54.15 on an upgrade to “buy” from Merrill Lynch, while Raiffeisen added 2.4 percent to €89 and Allied Irish Banks gained 2.8 percent to €21.25. Swedish banks, however, were lower on the session. ...
by Elaine Frei
Crude oil prices were slightly higher on Tuesday on the heels of an announcement that Abu Dhabi National Oil Corporation will export 5 percent less oil next month. The cut is United Arab Emirates’ contribution to OPEC’s output cuts. However, some analysts are of the opinion that for the OPEC cuts to do any good, inventories have to ...
by Elaine Frei
The Japanese yen was weaker on Tuesday despite comments from Japan’s vice minister for internal affairs that he did not see his nation’s currency declining beyond current levels. Some analysts said that the comments were meant for the consumption of European Central Bank officials and were in reference to the euro’s recent gains versus the yen. At midday in New ...
October 23, 2006
by Elaine Frei
The New York equities markets were higher at midday on Monday as earnings reports continue to come in. Over 150 companies listed on the S&P 500 alone are expected to report this week. At mid-session the Dow Jones Industrial Average was 0.9 percent higher to 12,114.11, a new high, while the Nasdaq Composite was up 0.7 percent to 2,359.53 ...
by Elaine Frei
The FTSE Eurofirst 300 added 0.4 percent to 1,450.5 on Monday’s session as financial sectors saw gains that helped balance out losses in the oil sector.
The banking sector was helped by expectations of good earnings reports as well as by continuing bids rumors. Italian bank UniCredit was 0.8 percent higher to €6.62 and Hypovereinsbank added 1.9 percent to €36.63 ...
by Elaine Frei
The real estate sector helped Tokyo equities markets to gains on Monday, with the Nikkei 225 closing at 16,788.82, up 0.8 percent, and the Topix index adding 0.9 percent to 1,659.39. Elsewhere, the Mothers index of small and mid-cap stocks gained 2.6 percent to 1,239.76.
The banking sector was up as well, advancing 1.6 percent as a whole, benefiting from ...
by Elaine Frei
Crude oil prices were down on Monday despite last week’s announcement of production cuts from OPEC and in the face of a possible further cut in December. A number of analysts, however, doubt that the promised cuts will materialize since some of the nations scheduled to make cuts from actual production are already having trouble making their quotas. ...
by Elaine Frei
Declining oil prices and a slight easing of the North Korean situation helped the US dollar strengthen on Monday, but investors seemed unwilling to make large commitments before the scheduled meeting of the US Federal Reserve later in the week. Most analysts expect that the Fed will once again leave interest rates on hold, but many investors are looking forward ...
October 20, 2006
by Elaine Frei
The London equities markets were mixed on Friday and closed out the week lower than they began. The FTSE 100 was 0.01 percent lower on the session and 2.1 points lower on the week to 6,155.2, while the FTSE 250 added 0.1 percent Friday but lost 43.1 points over the week to close at 10,356.5.
Banks were lower, with Lloyds TSB ...
by Elaine Frei
The FTSE Eurofirst 300 ended the week at 1,445.39 on Friday, adding 0.3 percent for the session and brining its gains since the beginning of the year to 13 percent. The day’s close was its highest since early June 2001.
Several sectors saw gains over the week. The forestry and paper sector did very well. UPM Kymmene was 6 ...
by Elaine Frei
The Organization of Petroleum Exporting Countries agreed Friday to cut output to 26.3 million barrels of crude oil per day on November 1. Meanwhile, Saudi Arabia said that a further production cut of 0.5 million barrels per day was possible in December if prices haven’t risen by then. Some analysts, however, said that OPEC must actually carry out the cuts ...
by Elaine Frei
The Japanese yen ended the week higher after the Russian central bank announced that it would buy more yen for its foreign-exchange reserves and on a report in a Japanese newspaper that the Bank of Japan will watch carry trades more closely. Even though the Bank denied that report, analysts felt that the report indicated that there are serious concerns over ...
by Elaine Frei
Prices were up and yields lower on US Treasury bonds during the week as investors remained wary ahead of the next meeting of the Federal Reserve, scheduled for next week. Data releases during the week did not help determine the economy’s direction, although most analysts expect the Fed to hold interest rates at 5.25 percent again this month. At ...
October 19, 2006
by Elaine Frei
The New York equities markets were mixed at midday on Thursday on news from corporate earnings reports and new data from the Philadelphia Fed that showed its manufacturing index down 0.7 percent in October when an advance had been predicted. The Dow Jones Industrial Average was 0.15 percent higher to 12,011, while the Nasdaq Composite was down 0.1 percent ...
by Elaine Frei
London equities markets were lower on Thursday, mainly on declines in financial sectors. The FTSE 100 dropped 0.2 percent to 6,136.5. Meanwhile, the FTSE 250 was 18.6 points lower to 10,323.1.
Losers among financial institutions included HSBC, down 0.8 percent to £10.05. Also lower were Northern Rock, which fell 0.9 percent to £11.91 and Bradford & Bingley, 1.5 percent lower ...
by Elaine Frei
In Europe on Thursday, the FTSE Eurofirst 300 dropped 0.32 percent to 1,441.16 as quarterly reports continue to emerge from various sectors.
Food groups were lower on the session. Nestle said that it saw sales grow by 9.1 percent in the first nine months of the year, which was about what analysts expected, but investors were unhappy with that result, which ...
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Crude oil prices were significantly higher on Wednesday after the US Energy Information Administration released figures showing that crude oil, gasoline, and heating oil stockpiles were all lower in the week ending October 20. Crude stockpiles had been expected to rise due to maintenance work that took US refinery utilization down to 86.2 percent last week, from 86.3 percent ...
The New York equities markets were mixed in early afternoon trade on Tuesday. The Dow Jones Industrial Average was 0.02 percent higher to 12,118.91, while the Nasdaq Composite had dropped 0.4 percent to 2,342.22 and the S&P 500 was 0.1 percent lower to 1,375.57. The activity was a result of several factors, including a lack of new economic data, ...
