Saturday, 17th May 2008
8:30am
US stocks closed mostly lower on Friday, with a slide in consumer confidence and surging crude oil prices fueling worries about the economy, but with losses limited as energy and commodity stocks provided support to the broad market.
The Dow Jones Industrial Average declined 5.86 points to end at 12,986.8, giving it a 1.9% weekly gain.
Of the Dow's 30 component stocks, 17 ended in the red, led by American Express, off 2.4%, and General Motors, down 2.6%.
Oil giants Chevron and Exxon Mobil led the Dow's winners, with Chevron up 1.9% and Exxon up 1.5%. Their advances coincided with a rise in crude futures, which rallied to a fresh high of $127.82 a barrel, before retreating a bit to close at $126.29 a barrel, up $2.17.
With a barrel of oil now well into...
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Friday, 16th May 2008
4:48pm
END-OF-DAY REPORT: Headline shares close ahead but well off highs, the gains supported by strength among oil issues on the back of firm crude prices, with British Energy among the top blue-chip risers after confirming bid approaches.
At the close of play, the FTSE100 was 52.5 points higher at 6,304.3 with the FTSE250 ahead 115.4 points at 10,454.3 and the FTSE Smallcaps 4.9 points weaker at 3,218.3.
NEW YORK
By the London close, the Dow Jones Industrial Average was down 84.7 points at 12,908.0, with the Nasdaq Composite down 23.54 points at 2,510.15 and the S&P500 losing 8.54 points at 1,415.03.
LONDON MARKETS - BLUE CHIPS
M&A talk helped British Energy to add 35.5p at 715.5p, as the group said it has received at least two offers for the company, with sources close...
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3:18pm
MIDAFTERNOON REPORT: Headline shares remained firm midafternoon, the gains fuelled by strength among oil issues on the back of firm crude prices, with British Energy among the top blue-chip risers after confirming bid approaches.
At 3:00pm, the FTSE100 was 75.7 points higher at 6,327.5 with the FTSE250 ahead 131.5 points at 10,470.4 and the FTSE Smallcaps 5.3 points weaker at 3,217.9.
NEW YORK
Wall Street were a little changed in early trading as investors digest new record highs for oil and a surprising jump in new home construction.
The Dow Jones Industrial Average was down 22.6 points at 12,970.1 in early deals, with the Nasdaq Composite down 9.74 at 2,523.99 and the S&P500 adding 0.58 at 1,424.15.
LONDON MARKETS - BLUE CHIPS
M&A talk helped British Energy to add 36.5p...
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3:08pm
US stocks declined, after quickly surrendering opening gains as crude-oil futures broke to another record high, hitting an earlier improvement in investor sentiment, encouraged by an unanticipated rise in April home construction.
The Dow Jones Industrial Average declined 19.38 points, or 0.2%, to 12,973.28.
Among the blue chips, General Electric fell 0.3% after the Louisville, Ky.-based company said it might sell its $7.2 billion appliance business.
The S&P 500 shed 1.68 points, or 0.1%, to 1,421.89, while the Nasdaq Composite dropped 9.61 points, or 0.4%, to 2,524.12.
Ahead of Wall Street's opening bell, stock futures extended gains after the government estimated home builders broke ground on 8.2% more homes in April, led by a spike in starting construction on multi-family homes.
At 10 a.m. Eastern, the University of Michigan is scheduled to...
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12:37pm
MIDDAY REPORT: Headline shares were firmly higher at midday, the gains fuelled by strength among oil issues on the back of firm crude prices, with British Energy among the top blue-chip risers after confirming bid approaches.
At high noon, the FTSE100 was 83.2 points higher at 6,335 with the FTSE250 ahead 161.5 points at 10,500.4 and the FTSE Smallcaps 5.2 points weaker at 3,218.
NEW YORK
Wall Street is on track to open higher Friday, looking to advance for a third day straight, and following on from gains in Europe, although any bad news in today's housing report could dent investors' confidence.
According to spread bettors IG index, the Dow Jones Industrial Average is expected to open around 26 points higher at 13,018. S&P 500 futures were 3.9 higher at 1,427.5, while Nasdaq 100 futures were...
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