New York Report: S&P hits record high as US deal cheers investors October 17, 2013 THE S&P 500 closed at a record high yesterday as investor confidence grew following a last-minute deal to avoid a US default, but weaker-than-expected results from heavyweights IBM and Goldman Sachs pressured the Dow. The S&P 500’s intraday record of 1732.92 broke the all-time high set 19 September. Over 80 per cent of stocks traded [...]
Tech champion says London is equal to New York for flotations October 16, 2013 LONDON has reached parity with New York when it comes to opportunities for companies seeking to float, according to Tech City chief Joanna Shields, despite UK gaming giant King’s decision last month to list in the US. “I think the conditions are right… I think we have parity. In many ways we’re competitively advantaged over [...]
New York Report: Wall St soars as Washington nears debt deal October 16, 2013 US stocks closed more than one per cent higher yesterday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling, which would avoid the threat of a debt default. US Senate majority leader Harry Reid and Senate republican leader Mitch McConnell said senators had come to an [...]
Twitter picks NYSE for float October 15, 2013 TWITTER said last night it will list on the New York Stock Exchange, dealing a blow to the Nasdaq, which traditionally handle banner tech floats. The social network also showed that it kept up its pace of revenue and user expansion in the just-ended third quarter, and it is now set to kick off its [...]
New York Report: Default worry preoccupies US markets October 15, 2013 US stocks fell in a volatile session yesterday as the impasse over the debt ceiling in Washington continued with very little sign of progress towards a resolution. Despite some key corporate earnings, traders held off on making big bets given the political uncertainty. Selling accelerated during the afternoon after Senator Richard Durbin said Senate negotiations [...]
New York Report: Stocks fall as government standoff drags October 7, 2013 US stocks fell yesterday, extending two weeks of losses, as a lack of progress in ending the partial US government shutdown or the debt-ceiling standoff kept investors nervous. The S&P 500 ended near its lows of the session in a volatile day and dropped for its 10th time in the past 13 sessions. The CBOE [...]
Twitter unveils $1bn float plan October 3, 2013 TWITTER aims to raise $1bn during its initial public offering according to documents made public last night. The social network’s S1 filing, the document filed with the US Securities and Exchange commission, revealed that the company is unprofitable, and that its losses have risen 41 per cent to $69.3m during the six months ending 30 [...]
New York Report: Shares drop as stalemate in DC lingers on October 3, 2013 US STOCKS dropped yesterday as investors worried that a budget stalemate in Congress would become entangled with much more critical legislation to raise the federal borrowing limit. The standoff between congressional Democrats and Republicans to pass an emergency funding bill, which has led to a third day of a partial US government shutdown, continued with [...]
“Sell” rating for Alcoa as aluminium prices fall October 3, 2013 Deutsche Bank has downgraded its rating on Alcoa's stock from "hold" to "sell", citing lower aluminium prices over the last two quarters as the reason for doing so. Thing aren't boding too well for the world's third largest producer of aluminium, which has 40 per cent of its revenue accounted for by primary metals business. [...]
Empire State shares climb in market debut October 2, 2013 SHARES of Empire State Realty Trust, owner of the Empire State Building, climbed in their first day of trading yesterday as investors bet the marquee property will be able to attract more tenants as New York’s technology sector continues to grow. The shares, which were initially sold late Tuesday at $13 a piece, rose as [...]