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November 30, 2006
by Elaine Frei
The New York equities markets were lower in early afternoon trade on Thursday after the Chicago Purchasing Manager’s index showed regional manufacturing in the Midwest was at 49.9 in November, a drop from October’s reading of 53.5. It was the first time since April 2003 that the Chicago index had come in below 50, the level at which ...
by Elaine Frei
London’s equities markets were mixed on Thursday as the FTSE 100 dropped 0.6 percent to 6,048.9 but the FTSE 250 added 0.1 percent to 10,673.9.
Miners were mostly up on the session, the exception being Anglo American, which dropped 0.25 percent to £23.62. Rio Tinto added 0.8 percent to £27.15, while Xstrata and BHP Billiton gained 1.1 percent each, to ...
by Elaine Frei
New data on the growth of the US economy helped the Tokyo equities markets to gains on Thursday. Both export-focused and domestic stocks benefited. The Nikkei 225 added 1.2 percent to 16,274.33, while the Topix index gained 1.5 percent to 1,603.03. The Mothers index of small and mid-cap stocks did ever better, ending 2.5 percent higher ...
by Elaine Frei
Crude oil prices were higher again on Thursday, with demand higher as cold winter weather set in over parts of the country. Brent crude for January delivery added 93 cents to trade at $64 per barrel, while January contracts for West Texas Intermediate crude were 49 cents higher to $62.96 per barrel. Analysts said that oil prices could ...
by Elaine Frei
The US dollar weakened against major currencies on Thursday as the Chicago Purchasing Manager’s Index fell below the threshold for expansion despite the expectation of some analysts that it would rise in November. The Chicago index was at 49.9 in November, after being at 53.5 in October. It remains to be seen whether the PMI contraction was regional ...
November 29, 2006
by Elaine Frei
The New York equities markets were higher on Wednesday afternoon, with the Dow Jones Industrial Average up 0.4 percent to 12,190.12. The Nasdaq Composite had gained 0.4 percent as well, to 2,421.54, while the S&P 500 was 0.6 percent higher to 1,394.62. Gains came after the US Commerce Department said that the US economy grew at a ...
by Elaine Frei
The London equities markets were higher on Wednesday in reaction to overnight gains in New York and Tokyo, while the pharmaceuticals sector was higher and financial services gained on bids rumors. The FTSE 100 added 0.6 percent to 6,065.3, while the FTSE 250 gained 1.5 percent to 10,659.1.
Miners were up on higher prices for several metals. BHP Billiton ...
by Elaine Frei
The FTSE Eurofirst 300 came back from a series of losing sessions to gain 1.3 percent on Wednesday, closing at 1,443.38. It was the best percentage gain for the 300 in two months.
The car and truck manufacturing sector was instrumental in the day’s gains. Even though Porsche said its share of Volkswagen was steady at 27.4 percent, ...
by Elaine Frei
Data showing that factory output in Japan was up a seasonally-adjusted 1.6 percent in October sent the Tokyo equities markets higher on Wednesday. The Nikkei 225 went back over the 16,000 mark, ending the session 1.4 percent higher to 16,076.20. The Topix index added 1.6 percent to 1,580.10. The best factory performance came in the automobile ...
by Elaine Frei
On the news that stockpiles of crude oil and oil products were lower last week, oil prices were up significantly on Wednesday. West Texas Intermediate crude for January delivery gained 88 cents to $61.87 per barrel on the New York Mercantile Exchange. Meanwhile, in London, January contracts for Brent crude were $1.17 higher to $62.38 ...
November 28, 2006
by Elaine Frei
The FTSE 100 dropped 0.4 percent to 6,025.9 in London on Tuesday, ending lower for the sixth straight session and at its lowest level since the beginning of October. It has fallen 2.9 percent since its current decline began. On the other hand, the FTSE 250 was up slightly to 10,497.2.
Homebuilder Wilson Bowden was 3.7 percent higher ...
by Elaine Frei
In Europe on Tuesday, the FTSE Eurofirst 300 came back from early losses but still ended the session 0.3 percent lower to 1,425.35. The 300 was down 0.6 percent at one point on the session.
The pharmaceuticals sector was lower. Roche dropped 1.5 percent to SFr215.50 even though Bear Stears made positive comments, reaffirming its “outperform” rating and target share price ...
by Elaine Frei
In Hong Kong on Tuesday, the Hang Seng index dropped 2.9 percent to 18,639.53. The index fell 564.48 points, its worst one-day loss since the day after the September 11 attacks in the United States in 2001. The declines came after recent gains that sent the Hang Seng to an all-time closing high of 19,265.32 just last Thursday.
The worst ...
by Elaine Frei
Colder weather said to be on the way sent crude oil prices up on Tuesday. Heating oil prices were also sent higher as forecasters predicted cold weather for the east coast of the United States. Prices were also sent higher as it seemed as if China is planning on bringing its strategic reserves higher while costs remain ...
by Elaine Frei
The euro strengthened again on Tuesday, helped by new data that showed the money supply in the Eurozone growing at an annual rate of 8.5 percent in October, above the 4.5 percent reference rate set by the European Central Bank. Meanwhile, two more French officials added their voices to recent French declarations that the euro was getting too strong ...
November 27, 2006
by Elaine Frei
In Tokyo on Monday equities markets saw gains, especially in domestically-focused stocks, as the Nikkei 225 added 1 percent to 15,885.38 and the Topix index ended the session 1 percent higher as well, at 1,553.01.
Export-focused stocks did not have as good a day of it. In the electronics sector, Sony dropped 0.7 percent to ¥4,570 after it said that eight ...
by Elaine Frei
The New York equities markets were lower at midday on Monday as investors returned from the long Thanksgiving Day weekend. The Dow Jones Industrial Average was 1 percent lower to 12,154.4, while the Nasdaq Composite dropped 1.7 percent to 2,418.55 and the S&P 500 fell 1 percent to 1,386.74.
Retailers saw losses even though the National Retail Federation ...
by Elaine Frei
In London on Monday, the FTSE 100 was 1.2 percent lower to 6,050.1, its lowest close since early October and its largest one day percentage decline since the end of September. Meanwhile, the FTSE 250 also declined, dropping 0.9 percent to 10,493.6.
The retail sector saw declines on slow sales for clothing retailers due to mild weather so far this autumn. ...
by Elaine Frei
The FTSE Eurofirst 300 dropped 1.5 percent on Monday to close at 1,429.00. The declines was the Eurofirst’s furthest one-day fall in nearly six months.
Utilities were down after the announcement last week that the merger between Gaz de France and Suez was being delayed, as some hoped that Italian utility Enel might yet engineer a merger with Suez. ...
by Elaine Frei
Crude oil prices were up during the day on Monday but not as much as might be expected after Saudi Arabia’s oil minister said over the weekend that OPEC will cut production again in December. He discounted the importance of price in the decision and emphasized the principle of balancing supply with demand.
January contracts for Brent ...
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The New York equities markets were lower in early afternoon trade on Thursday after the Chicago Purchasing Manager’s index showed regional manufacturing in the Midwest was at 49.9 in November, a drop from October’s reading of 53.5. It was the first time since April 2003 that the Chicago index had come in below 50, the level at which ...
