Bank of America shares slide to their lowest since March 2009 December 19, 2011 SHARES of Bank of America closed below $5 yesterday for the first time since the depths of the bear market in March 2009. The stock closed at $4.99, down four per cent, after dropping as low as $4.92. Bank of America accounted for roughly six per cent of composite volume on the New York Stock [...]
Bank of America leads US stock fall December 19, 2011 BANKS dragged the US stock market lower yesterday, with losses accelerating late after Bank of America’s stock price fell below $5 for the first time in nearly three years. When BofA, the largest US bank, plunged through $5, it ignited a late-day decline in the sector and the broader market, which fell by one per [...]
Don’t lock the world out of London: New rules send the City back to the dark ages December 15, 2011 THERE is a well-used phrase in management, that it is better to make a wrong decision than none at all. The exception must be Mark Makepeace, chief executive of the FTSE Group, who this week ruled all listings in London from next month must have a 25 per cent free float In enforcing this, he [...]
LSE defends City in floats blame game December 8, 2011 CONCERNS that fund managers are overpaying for newly-listed shares and investment banks are charging extortionate fees are unfounded, the London Stock Exchange said yesterday, in a report recommending improvements to the IPO market. On a series of key areas, from pre-IPO engagement with the investor community and investment bank fees to the number of banks [...]
US slide continues for a fifth session November 22, 2011 US stocks fell for a fifth day in a row yesterday, having lost more than five per cent over that period as borrowing costs in Spain hit another record high. The market remains anchored by concerns about the worsening debt crisis in Europe where rising yields suggest the outlook continues to deteriorate and stocks have [...]
Occupy NY in police clashes November 17, 2011 MORE than 170 people were arrested in New York yesterday as police quashed an attempt by protesters to shut down Wall Street. Police set up barricades on the roads around Wall Street and pushed activists onto the pavement to stop them from blocking the route taken by staff at banks and the New York Stock [...]
Choppy day for Wall St November 17, 2011 TRIGGER-HAPPY investors dumped US stocks yesterday, scared by the market’s sudden fall through a key technical level brought on by more worries about Europe’s debt troubles. The S&P 500 steadily slipped through the morning until it broke through 1,225, when selling picked up in both the futures and cash markets. Investors have been increasingly focused [...]
Eurozone dangers prompt a sell-off November 16, 2011 US stocks fell yesterday, with selling accelerating late in the session on more warnings about the potential impact of the Eurozone’s debt crisis on the global economy and the banking system. Worries about growth weighed on sensitive sectors like financials and materials. Losses deepened after ratings agency Fitch said even though the outlook on the [...]
Wall Street edges up on retail stats November 15, 2011 US stocks rose yesterday, boosted by swift steps toward formation of a new Italian government and stronger-than-expected reports on the US economy. Stocks sensitive to economic growth led the rally, with technology and industrials the best performers. Apple rose more than 2.5 per cent, up for only the second day in the last eight. But [...]
US stocks dented by Europe worries November 14, 2011 US stocks fell yesterday as rising bond yields in Italy and other Eurozone countries reminded investors that despite changes in governments, the region’s debt crisis could still spin out of control. Banks posted the largest losses, but overall volume was unusually weak. The KBW bank index dropped 2.5 per cent, with Bank of New York [...]