New York climbs back to life as markets reopen October 31, 2012 THE NEW York Stock exchange re-opened yesterday after a two-day closure caused by Hurricane Sandy. Although much of the city remained without power, and a severely reduced transport system was in place, New York’s financial hub returned to life with many returning to work despite offices relying on backup power. After New York’s mayor Michael [...]
After the storm October 30, 2012 ■ Stock markets set to re-open today ■ New York may be without power for days ■ Obama and Romney halt campaign events NEW YORK began to pick up the pieces of Hurricane Sandy’s aftermath last night, after Wall Street was brought to a standstill for a second consecutive day. Millions still face power outages [...]
New York Stock Exchange set to resume full trading today October 30, 2012 THE NEW York Stock Exchange will re-open today, little more than 24 hours after the passing of the monster storm and severe flooding caused by Hurricane Sandy. “NYSE Euronext will open for normal trading operations in coordination with all US equities, bonds, options and derivatives markets,” the exchange said. “Trading will commence on the New [...]
NYSE expected to re-open for trading today October 30, 2012 THE US stock market was closed for a second straight day yesterday as cash equity trading was cancelled in the wake of Hurricane Sandy. Yesterday’s shutdown was the first time weather had resulted in a two-day market shutdown since the Great Blizzard of 1888. Exchanges expect to reopen today. NYSE Euronext said the New York [...]
Frankenstorm October 29, 2012 First two day close of New York exchange due to weather since 1888 Millions left without power as storm surge threatens Manhattan Insurers estimate the total cost of the damage could reach $10bn HURRICANE SANDY last night hit the US’s North East coast, closing stock exchanges, grounding aeroplanes, flooding low-lying areas, and potentially landing insurers [...]
Frankenstorm: Don’t fall foul of the Broken Windows Fallacy October 29, 2012 THERE are times, fortunately not too often in these days of technological revolution and extraordinary scientific progress, that human beings can but bow to the forces of nature. We may be capable of flying to the moon but there are some natural events that leave us powerless and unable to control events. Everybody with family, [...]
The calm before the fiscal storm October 29, 2012 AS HURRICANE Sandy hits the eastern seaboard of the US, just how much will it rock the markets? And could it be a game changer for the presidential elections – now only a week away? According to an analyst note by the chief investment strategist of S&P Capital IQ, Sam Stovall, history says that hurricanes [...]
Wall Street battens down the hatches for Frankenstorm October 29, 2012 US STOCK exchanges shut down their trading floors today and Wall Street firms prepared staff to work from home or regional offices as New York braced itself for the arrival of hurricane Sandy. The New York Stock Exchange said yesterday it would close its trading floor for weather-related reasons for the first time since hurricane [...]
Stock Exchange exec: Finance and football don’t always mix October 24, 2012 AS a follower of Preston North End since childhood, Alastair Walmsley, the London Stock Exchange’s newish head of primary markets, could be forgiven for not being too displeased that Manchester United chose the New York Stock Exchange rather than his employer’s very own stock market on which to float its shares. In his LSE role [...]
BlackRock rides out fundraising storm to float US income trust October 18, 2012 BLACKROCK, the world’s biggest fund manager, yesterday overcame tough market conditions to close a £65m initial public offering (IPO) for a US equity income trust set to list in London. The fund manager said the BlackRock North American Income Trust, which will invest in American equities, would list on the main market of the London [...]