Trading light in US as investors wait on the Fed August 28, 2012 US stocks ended little changed in another day of scarce activity yesterday after mixed economic data gave investors little reason to shift their focus from Federal Reserve chairman Ben Bernanke’s speech on Friday. The Fed chief is scheduled to address a conference of central bankers in Jackson Hole, Wyoming, and could announce new measures to [...]
Lacklustre data and fears over Greece hurt US August 22, 2012 THE S&P 500 erased earlier losses to close flat yesterday after minutes from the latest Federal Reserve meeting indicated the central bank might be ready for another round of stimulus. Minutes from the 31 July to 1 August meeting suggested the Fed is likely to deliver another round of monetary stimulus “fairly soon” unless the [...]
Soros reveals new stake in Man United August 20, 2012 BILLIONAIRE investor George Soros has splashed out on a 7.85 per cent passive stake in Manchester United, a filing with the US Securities and Exchange Commission revealed late last night. Soros Fund Management bought over three million of the new class A shares, which were created for the club’s initial public offering (IPO) in New [...]
Wall Street flat after six week rallying boom August 20, 2012 US stocks were flat yesterday, on signs of fatigue after a six-week run of gains, as the European Central Bank quelled speculation about the form of market intervention that may be taken to stem the region’s debt crisis. Despite the lethargic trading, Apple shares hit a new high, becoming the most valuable public company of [...]
Twilight star rings NYSE opening bell August 14, 2012 LONDON-born actor Robert Pattinson took to the trading floor in New York yesterday to ring the New York Stock Exchange’s opening bell. Pattinson was in town to promote his recent film Cosmopolis – an adaptation of a Don De Lillo book in which he plays a wealthy Manhattan asset manager travelling across the city in [...]
Retailers pick up during light Wall St trading August 14, 2012 US stocks ended little changed yesterday in what investors described as a fatigued market after the S&P 500 rose in seven of the past eight sessions. Retailers were a notable standout after Home Depot raised its profit forecast due to improvement in the housing market and US retail sales data that was stronger than expected, [...]
MAN UTD KICKS OFF IPO WITH SKY-HIGH RATING August 8, 2012 MANCHESTER United is set to become a publicly traded company tomorrow after investors filled the order book for its shares, despite warnings from analysts that the stock is overpriced. City A.M. understands that there has been sufficient demand for the club to push ahead with its listing on the New York Stock Exchange, which will [...]
Knight Capital shares higher August 7, 2012 KNIGHT Capital shares showed signs of improvement yesterday, as the embattled market maker began to regain some of the share volume lost after software glitch caused a huge trading loss last week. Meanwhile, NYSE Euronext said yesterday Knight would resume its responsibilities as a designated market maker on the New York Stock Exchange next Monday. [...]
S&P hits 1,400 on optimism over Europe August 7, 2012 U S stocks rose for a third straight day yesterday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank (ECB) would act soon to contain the Eurozone’s debt crisis. Trading was light, which could distort the level of optimism investors truly have that Europe will [...]
Knight Capital shares tank as it secures lifeline August 6, 2012 KNIGHT Capital said yesterday that a group of investors has rescued the firm in a $400m (£256.2m) deal that keeps the embattled leader in US equities market-making in business, but comes at a huge cost to existing shareholders. Chief executive Tom “TJ” Joyce said the new investors supported him and his management team, but it [...]