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May 31, 2007
by Elaine Frei
European markets were higher on Thursday. The FTSE Eurofirst 300 gained 0.72 percent to 1,610.66, and continental markets made substantial gains. The Paris CAC-40 added 1.02 percent to 6,104, while the IBEX was 1.16 percent higher to 15,313.5 in Madrid and the Xetra Dax in Frankfurt gained 1.52 percent to 7,883.04. Banks were lower, as were chemicals and pharmaceuticals. ...
by Elaine Frei
Metals prices were higher on Thursday after the US dollar declined in response to lower than expected gross domestic product figures for the first quarter.
August gold was up $7.40 by early afternoon trade in New York to trade at $666.70 per troy ounce after having sold as high as $663.50 and as low as $667.50 in morning trade. ...
by Elaine Frei
The US dollar was higher early in the day on a new report which showed that US Midwest business activity was better than expected in May, even though GDP figures from the first quarter were weaker than had been anticipated. The greenback traded as high as ¥121.98, but by midday trade in New York the dollar had retreated ...
May 30, 2007
by Elaine Frei
The equities markets were mixed Wednesday at midday on Wall Street. The Dow Jones Industrial Average was steady at 13,521.99, while the Nasdaq Composite had dropped 0.1 percent to 2,569.63. The S&P 500 was fractionally higher to 1,518.5. The pharmaceuticals sector and some homebuilders saw declines. Beverage makers were higher, while exchange operators were mixed on deals maneuvering.
Asian and European ...
by Elaine Frei
Crude oil prices were mixed on Wednesday on news from various parts of the world. Brent crude July contracts were 65 cents lower to $67.48 per barrel on the Intercontinental Exchange in London, while West Texas Intermediate crude for July delivery added 25 cents to $63.40 per barrel on the New York Mercantile Exchange. Nymex June gasoline was down ...
by Elaine Frei
Prices for US Treasury bonds were higher on Wednesday after the release of the minutes from this month’s meeting of the Federal Reserve and an auction of $13 billion in five-year paper. The auction drew a bid-to-cover ration of 2.60, higher than at the April auction, but only drew indirect bids of about 19 percent, much lower than April’s figure ...
by Elaine Frei
The US dollar added 0.1 percent to $1.34390 in relation to the euro Wednesday, while it gained 0.2 percent on sterling, to $1.9765. Meanwhile, the greenback traded even at ¥121.60 versus the yen and at SFr1.2250 against the Swiss franc. Despite its inability to make headway against the safe-haven Japanese and Swiss currencies, analysts called recent moves by China ...
May 29, 2007
by Elaine Frei
European equities markets were mostly higher on Tuesday. The Paris CAC-40 was the exception; it dropped 0.25 percent to 6,056.39. But the FTSE Eurofirst 300 added 0.1 percent to 1,601, while the IBEX gained 0.42 percent to 15,188.6 in Spain and in Frankfurt the Dax was 0.54 percent higher to 7,781.04. Carmakers saw gains, helped by lower oil prices, ...
by Elaine Frei
Metals prices were mixed Tuesday. Among precious metals, gold was 0.2 percent higher to $656.75 per troy ounce in late trade in London. Meanwhile, in New York in midday trade, silver added 22 cents to $13.30 per troy ounce. On the other hand, July platinum in New York dropped $13 to trade at $1,264.80 per troy ounce.
Base metals ...
by Elaine Frei
At midday in New York on Tuesday, the Canadian dollar had added 0.8 percent in relation to the US dollar to trade at C$1.0715 to the greenback, its highest level in 29 years. Even though the Bank of Canada held interest rates there at 4.25 percent, analysts expect that there will likely be a hike in rates in July.
The ...
by Elaine Frei
Prices for US Treasury bonds dropped again and yields rose after a new auction of two-year paper on Tuesday disappointed. The auction drew 2.53 bid-to-cover ratio, below the 2.93 level of the most recent auction and below the average ratio of 2.8 for 2-year auctions in the past six months. Indirect bids were lower as well, down ...
May 25, 2007
by Elaine Frei
Trade was light on Wall Street Friday as investors looked forward to the Memorial Day holiday on Monday. At midday, the Dow Jones Industrial Average had added 0.21 percent to 13,469.33, while the Nasdaq Composite was up 0.5 percent to 2,550.51 and the S&P 500 had gained 0.27 percent to 1,511.61. Deals were in focus on the session in both ...
by Elaine Frei
Crude oil prices were mixed on Friday. While several US refineries announced that they would restart after closures, tensions over the situations in Iran and Nigeria still caused concern.
Brent crude was 32 cents lower to $70.40 per barrel by late afternoon in London, while by mid-afternoon in New York July contracts for West Texas Intermediate crude had added ...
by Elaine Frei
Sterling strengthened over the week, helped by the release Wednesday of the minutes from this month's Monetary Policy Committee meeting. The minutes revealed that all nine MPC members voted for May's rate hike and that they considered raising the rate by 50 basis points instead of by the 25 bp that they did raise them.
During the week, sterling added ...
by Elaine Frei
Prices were lower again on Friday on US Treasury bonds, and yields were up slightly as equities markets were stronger and economic news continues to indicate that the Federal Reserve is not likely to cut interest rates anytime soon.
Two-year Treasury bonds yielded 4.86 percent late on Friday, while five-year paper was at a yield of 4.8 percent. Yields on ten-year bonds ...
May 24, 2007
by Elaine Frei
European equities markets were lower on Thursday, with the FTSE Eurofirst 300 down 0.77 percent to 1,597.49. The Dax in Frankfurt was 0.5 percent lower to 7,697.38, while the IBEX-35 in Madrid fell 0.85 percent to 15,094.9 and the Paris CAC-40 dropped 1.17 percent to 6,048.31. Banks were lower, as were carmakers. Utilities and the semiconductors sector were both ...
by Elaine Frei
Metals prices were lower on Thursday after the US dollar strengthened on home sales data.
Among precious metals, gold dropped $7 to trade in a range around $653.30/$654.80 per troy ounce by late in the day in London. Gold prices were as low as $651.50 per troy ounce earlier in the session, a two-month low. Platinum prices ...
by Elaine Frei
After former US Federal Reserve chairman Alan Greenspan voiced concerns that the Chinese stock market could fall suddenly and dramatically, the yen and the US dollar strengthened and emerging market currencies were halted in their gains versus the greenback.
The yen was higher as investors backed off from risky carry-trades after Mr. Greenspan’s remarks. By midday trade in New York, the ...
by Elaine Frei
Prices fell and yields rose on US Treasury bonds on Thursday after new data showed that new homes sales in the US were up by 16.2 percent in April as prices fell 11 percent. The decline in home prices was an all-time record, while the gain in sales was the biggest in 14 years. The new figures ...
May 23, 2007
by Elaine Frei
The New York equities markets were higher at midday on Wednesday. The Dow Jones Industrial Average was 0.28 percent higher to 13,578.15 after having gone as high as 13,609.76, the first time the Dow has ever breached the 13,600 level. The Nasdaq Composite gained 0.27 percent to 2,595.12, while the S&P 500 added 0.36 percent to 1,529.54, again above its ...
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