- Elena
- 23 Apr, 2007
- New York City
European stock markets closed in the negative on Monday, despite positive news from Swiss giants Novartis and Nestle. The banking sector weighed as investors digested a 67-billion-euro bid launched by Barclays to buy ABN Amro. Shares of ABN Amro turned lower to close down 1.4% after a potential bidding consortium cancelled talks they were due to have with the Dutch bank on Monday. Barclays shares lost 2.3%. The French CAC-40 fell 0.4%, the U.K. FTSE 100 lost 0.1%, the German DAX 30 lost 0.1%.
- Elena
- 23 Apr, 2007
- New York City
U.S. stocks traded in a lackluster fashion, with the Dow a little off the 13,000 mark weighed down by Pfizer. The company lost 1.4% following a brokerage downgrade on its stock. Hasbro, the No. 2 U.S. toymaker, climbed 7% after it reported quarterly profit well above analyst estimates. Biotech stocks were the most notable gainers, driven higher by surging MediImmune on the back of a $15.6 billion buyout offer from AstraZeneca.
- Elena
- 23 Apr, 2007
- New York City
Merger deals in the bank sector were the leading market drivers on Monday. After Barclays reached an agreement to acquire ABN Amro in a deal worth $91 billion, Bank of America said Monday it agreed to buy LaSalle Bank Corp. for $21 billion. Fortis, Royal Bank of Scotland and Santander said they cancelled talks with ABN Amro that were due to be held on Monday.
- Elena
- 23 Apr, 2007
- New York City
Wall Street posted modest gains at opening on Monday, reflecting some profit taking after last-week strong gains, as well as news of two mega mergers, including the UK''s Barclays which agreed to buy Dutch bank ABN Amro for $91 billion in the biggest bank deal in history. In another deal, drugmaker AstraZeneca agreed to pay $15.6 billion for U.S. biotech company MedImmune. AstraZeneca shares lost 4.3%, while MedImmune surged 17.5%.
- Ivaylo
- 23 Apr, 2007
- New York City
London stocks were virtually unchanged in mid-day trade on Monday as banking stocks fell on concern that Barclays record offer for ABN Amro could spark a costly bidding war for the Dutch group. AstraZeneca has agreed to buy US biotech MedImmune in an all-cash deal which is expected to bolster the drug pipeline and portfolio of the company. The FTSE 100 was unable to hold opening gains, falling 0.1% with Barclays leading the decliners.
- Ivaylo
- 23 Apr, 2007
- New York City
Asian markets ended mostly higher on Monday, with Japan finishing slightly higher and Hong Kong closing a bit lower, while China soared on expectations that stock-index futures will be launched soon. Tokyo trading was relatively quiet as pessimism about corporate-earnings expectations for this fiscal year by Japanese companies countered earlier gains. Steel producer Posco led South Korean shares higher.
- Elena
- 23 Apr, 2007
- New York City
U.S. stock futures pointed to a robust opening, with the Dow expected to rise above the 13,000 mark for the first time Monday. The positive pre-market sentiment was generated by merger activity, as well as optimism about corporate profits. British bank Barclays PLC agreed to acquire Dutch bank ABN Amro for $91.16 billion in what would be the world''s biggest bank deal. In another deal, drugmaker AstraZeneca said it will buy U.S. drug maker MedImmune for $15.6 billion.
- Ivaylo
- 23 Apr, 2007
- New York City
The benchmark index opened with a postive bias and surged past the 14,000 level but momentum was lost in late session on profit-taking and the Sensex ended with a modest gain. The market-breadth was negative. Tata Steel led the advancers, while ITC was the worst performing stock. Arcelor Mittal has received approval from the US and Mexican competition authorities to acquire Sicartsa.
- Ivaylo
- 23 Apr, 2007
- New York City
Barclays agreed to buy ABN Amro in the largest-ever banking deal sending European markets to a six-and-a-half-year high Monday, supported also by favorable updates from Swiss company Novartis and Nestle. Novartis led drugmakers higher after posting first-quarter profit that topped expectaions. The German DAX Xetra 30 index rose 0.1%, the U.K. FTSE 100 index rose 0.1% and the French CAC-40 index increased 0.2% a morning after the first round of the French presidential election.
- Elena
- 23 Apr, 2007
- New York City
Barclays offered 3.225 of its shares for each ABN Amro shares, valuing the Dutch bank at 36.25 euros a share including a previously-announced 0.60 euros final dividend. The offer is a 33% premium to the price on March 16. A lot of analysts expect a rival to outbid the offer. ABN Amro shares climbed 1.1% to 36.70 euros in morning trading. Shares in Barclays lost 1.4% in London.
- Ivaylo
- 23 Apr, 2007
- New York City
Gold futures ended higher Friday, supported by overnight Asian buying and fresh investment interest after a downward correction Thursday. Platinum was perhaps the biggest advancer of the day in the precious metals market, with July platinum climbing on sustained anticipation of exchange-traded funds soon to be launched in Europe. In Nymex energy trading, crude oil futures expired Friday, surging sharply as traders covered oversold positions.
- 123jump.com Staff
- 07 Jan, 2008
- New York City
European markets dropped on a weakness in metals and mining sector, declining financials, and falling retailers. Marks & Spencer, Next, Kingfisher, and Sainsubury declined on the worries that retail sales in the holiday period were weaker than estimated. Credit Suisse and UBS declined after a local Swiss report suggested that new capital may be required in the banks. Credit Suissse dropped 2.6%. Xstrata fell 6% and BHP declined more than 3%.
- 123jump.com Staff
- 07 Jan, 2008
- New York City
U.S. stocks traded sideways as tempers rose with a near altercation between Iranian and the U.S. Navy. Three popular averages closed with fractional changes. Jeffries reported that it may have lost as much as $24 million in two trading accounts using funds. The Treasury Secretary Henry Paulson comments suggested that housing market slowdown may prompt a correction in economic grwoth. He stressed that the economy is still resilient. Crude oil fell on global economic worries.
- 123jump.com Staff
- 20 Apr, 2007
- New York City
U.S. averages rose on the bank of steady stream of positive earnings. American Express, Caterpillar, Honeywell, McDonalds, Pfizer and Google earnings supported market enthusiasm. China Citic Bank raised $5.4 billion in preparation of simultaneous listing in Shanghai and Hong Kong. European markets closed higher on merger talk between Societe Generale in France and Unicredit in Italy. Sony Ericsson profit doubled on rising sales of mobile handsets in Europe.
- 123jump.com Staff
- 20 Apr, 2007
- New York City
Averages in New York trading maintained gains in the late afternoon trading on positive earnings from American Express, Honeywell and Caterpillar. Caterpillar, American Express gained 4.5% and Honeywell advacned 5%. Google jumped after beating expectations with an increase of 3.4%. Oakley rose 13% and NVR jumped 10% on earnings.