Wall Street pauses despite Euro fears July 5, 2011 US stocks ended a thinly traded session mostly flat yesterday as investors paused after last week’s surge, though continually light volume suggested the market could encounter more choppy trading. The Nasdaq closed higher for its sixth straight day, helped by strength in Netflix, while the Dow and the S&P 500 ended five-day streaks that marked [...]
Nasdaq considers approach for London Stock Exchange July 3, 2011 NASDAQ, the US bourse, is understood to be considering a bid for the London Stock Exchange. The LSE became a potential target for Nasdaq chief Bob Greifeld after it failed to tie-up an agreed merger with Toronto bourse operator TMX Group. Greifeld is understood to have asked his senior executives to look at putting together [...]
OTHER PRIZE SPONSORS BY CATEGORY FOR THIS YEAR’S CITY A.M. AWARDS June 30, 2011 Saxo Bank is a global investment bank specialising in online trading and investment across the international financial markets. Saxo Bank enables private investors and institutional clients to trade forex, contracts for difference, exchange-traded funds, stocks, futures, options and other derivatives via multi-award winning online trading platforms, as well as offering professional portfolio and fund management. [...]
LCH.Clearnet in crunch talks over possible takeover deal June 28, 2011 LONDON-based clearing house LCH.Clearnet is in crunch talks this week over a possible takeover deal in the latest wave of global exchange consolidation, City A.M. understands. Boardroom discussions are taking place this week at the world’s largest swaps clearing house, as the firm weighs bids from several potential suitors that could value it at anywhere [...]
Greece’s austerity deal lifts Wall St June 23, 2011 US stocks closed way off session lows yesterday on news Greece agreed to a five-year austerity plan, but lingering economic uncertainty ultimately drove indexes mostly lower, keeping a downward trend in place. The Nasdaq wiped out all its losses, ending the session higher and back in the black for the year. The news out of [...]
US stocks recover on Greece hopes June 21, 2011 US stocks posted gains for the fourth day yesterday on growing hopes that Greece will avoid a debt default, adding momentum to the market’s recent rebound. The Nasdaq had its biggest percentage gain since October, while the S&P 500 marked its best day in two months in what investors believe could be continued short-term buying [...]
China makes the very best of neighbours for Australia June 21, 2011 WHILE Australia’s first stock exchange officially opened in Melbourne in 1861, some 10 years after the start of the Gold Rush, the national Australian Stock Exchange was not established until more than 100 years later, in 1987. But ASX Group, current owner of the entity created by the merger of the Australian Stock Exchange and [...]
Wall St closes up on weak volumes June 20, 2011 US stocks rose yesterday, as the latest development to reduce Greece’s debt helped draw buyers and the S&P 500 touched a key support level, but anaemic volume signalled the recent weakness may not be over. Stocks erased early losses as the S&P 500 dipped toward 1,259.78, its 200-day moving average, which is often viewed as [...]
Santander UK still planning City float this year despite uncertainty June 19, 2011 SANTANDER UK has “pencilled in” its float for early November of this year, City A.M. understands, despite market turbulence and low industry valuations. The bank has scheduled a series of investor meetings for 27-28 September, in which analysts will meet and ask questions of the bank’s new senior management team for the first time. After [...]
Capital One agrees to buy US online branch of ING June 16, 2011 ING Groep NV has agreed to sell its US online banking business to Capital One Financial for $9bn (£5.6bn), the company announced last night. The Dutch banking and insurance conglomerate said in a statement that Capital One will pay $6.2bn in cash and $2.8bn in shares to buy ING Direct USA. Capital One, ranked among [...]