Bargain hunters help lift Wall St March 17, 2011 WALL Street rebounded after three days of declines yesterday, but the advance could be temporary as concerns about Japan’s nuclear crisis persisted. The S&P 500 recovered after giving up the year’s gains on Wednesday, but options activity showed traders are increasing hedges against another decline in stocks. “As the headlines come out of Japan, there [...]
Fed update helps to limit Wall St’s losses March 15, 2011 US stocks fell one per cent but ended far from session lows yesterday on the Federal Reserve’s more upbeat economic view and growing sentiment that Japan’s nuclear crisis would only temporarily depress shares. In a second straight day of losses tied to Japan, the S&P 500 fell to within four points of support at 1,257, [...]
KKR has more than $11bn for acquisitions March 15, 2011 Private equity giant Kohlberg Kravis & Roberts has told investors it has more than $11bn (£6.8bn) available to buy companies. KKR, which raised an $18bn global buyout fund in 2006, is just starting to raise a new North America-focused fund with a target size of $8-10bn. “We believe that is incredible capital to take advantage [...]
Nasdaq moves in on NYSE bid March 14, 2011 NASDAQ stock exchange is poised to make a hostile takeover bid for the New York Stock Exchange (NYSE), after entering late stage talks with Bank of America Merrill Lynch to fund the attempted break-up of NYSE and Deutsche Boerse’s merger. Nasdaq is close to securing $5bn (£3.1bn) of financing for its takeover bid, which could [...]
Wall Street suffers in quake aftermath March 14, 2011 US stocks fell in the wake of Japan’s devastating earthquake yesterday, but other than specific industries such as nuclear power, the broad impact on equities was expected to be short-lived. Trading volume was unusually low compared with other sell-offs, coming in at 7.68bn shares traded on the New York Stock Exchange, the American Stock Exchange [...]
Galleon trial witness testifies March 10, 2011 A DISGRACED former McKinsey partner told jurors at the Galleon Group insider trading trial yesterday that he leaked stock tips about the firm’s clients to hedge founder Raj Rajaratnam. Anil Kumar was the first of several of the hedge fund founder’s former friends to testify for the government at the high-profile trial in New York. [...]
The lady who took the lead March 10, 2011 NO, NO, no, I did not see myself as a feminist, in some ways the feminist movement did more harm than good,” says Debbie Moore, the first woman to float a company on the London Stock Exchange (LSE). “Having a female Prime Minister improved the atmosphere, but not just for women, for everyone with entrepreneurial [...]
Optimism on jobs fuels Wall St rally March 3, 2011 INVESTORS betting on a big gain in US payrolls pushed Wall Street to its best one-day rally in three months yesterday, but weak volume remained a concern. As oil paused from its recent climb, the market’s focus shifted to stronger-than-expected economic data a day before the February US employment report. The median estimate is for [...]
Wall St shrugs off fresh oil price rise March 2, 2011 US stocks eked out gains yesterday despite another rise in oil prices as investors bet the latest data signaled the economy could absorb expected higher energy costs. Wall Street seesawed as oil fluctuated throughout the day. Brent crude LCOc1 hit a 2 1/2-year high above $117 a barrel in the late morning but later slipped. [...]
Wall Street’s fear gauge leaps 13pc March 1, 2011 CONCERNS that rising oil prices could hurt economic recovery prompted investors yesterday to sell stocks and hedge against further declines. The CBOE Volatility Index (VIX), Wall Street’s so-called fear gauge, jumped 13.1 per cent to 20.75 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in [...]