Philip Morris International’s share price hit as the tobacco giant chokes on earnings below analyst expectations July 19, 2016 Big Four tobacco firm Philip Morris International's (PMI) share price was down almost four per cent on the New York Stock Exchange after it missed analyst expectations in its second quarter results today. The figures The Marlboro maker's cigarette shipment volume fell 4.8 per cent compared to the second quarter of last year, to 209.3bn [...]
The biggest tech IPO of the year is here – and Line popped July 14, 2016 The biggest tech IPO of the year is here, as Line goes public in a dual listing on the Tokyo and New York stock exchanges. The Japanese messaging firm is the sixth most used messaging app in the world, boasting 218m users. Priced at $32.84, shares popped nearly 30 per cent, opening at $42 per share [...]
Walgreens Boots Alliance posts a 15 per cent slide in net earnings, sending its share price lower despite beating expectations July 6, 2016 Walgreens Boots Alliance, the company that has controlled UK high street pharmacy chain Boots since 2014, has reported analyst estimate beating results but has failed to stop a share sell off. Shares were down by over three per cent in New York following the results announcement. For the third quarter the company reported earnings per share [...]
Roar: Dragon Capital brings Vietnam investment opportunity to the world – via London July 5, 2016 The London Stock Exchange today welcomes a new entrant at a time when several firms are understood to be postponing and calling off flotations after the UK’s Brexit vote. The flagship fund of investment management company Dragon Capital, Vietnam Enterprise Investments Limited (VEIL), today begins trading on the main market with a launch price of 250p. [...]
Analysts doubt London Stock Exchange merger will go through after Brexit vote June 24, 2016 Analysts have serious doubts over the London Stock Exchange’s merger with Deutsche Boerse after the UK voted for a Brexit. The companies themselves have said they remain “fully committed” to the £21bn deal, which shareholders are being asked to approve next month. LSE shareholders are due to vote on the merger on 4 July. But [...]
This unicorn is leaping on its IPO June 23, 2016 Tech bubble? What tech bubble? Twilio shares have surged on its IPO, leaping as much as 70 per cent on its debut on the New York Stock Exchange. Shares surged as high as $25.50 after pricing at $15 per share, giving it a market capitalisation of more than $2bn Read more: These are the seven [...]
Before the bell: What you need to know before the US market open June 23, 2016 Polls are open for the UK's European Union membership vote. Markets are betting people will opt to stay however and rallying around the world. Here's what you need to know before the US market open at 2:30pm London time. In the pre-market the S&P is up by 0.95 per cent, while the Nasdaq is one per cent higher. [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
Argentine confectioner Havanna lists in the country’s first local IPO since 2013 June 6, 2016 Havanna, an Argentinian confectioner, has listed on the Buenos Aires Stock Exchange. It’s the country’s first local listing since 2013 and has been taken as a further sign of economic recovery in Argentina. In May financial group Grupo Supervielle SA raised $280m (£193m) when it listed in New York and Buenos Aires. Havanna placed a [...]
London is crucial to the LSE-Deutsche Boerse merger, says top exec June 6, 2016 The London Stock Exchange (LSE) and Deutsche Boerse are walking a tightrope. As well as attempting to persuade shareholders and regulators to approve their £21bn merger, the tie-up has also attracted passionate interventions from politicians in the UK, Germany and elsewhere. In Westminster, attention has been drawn to two facts: that Deutsche Boerse’s chief executive would take [...]