$1.4trn in US cuts agreed July 14, 2011 STOCKS spiked briefly in New York last night after the White House briefed that Republicans and Democrats have agreed on $1.5 trillion (£930bn) in deficit cuts, with further progress to come. Talks have spilled into this week from last weekend, with heated exchanges allegedly causing US President Barack Obama to storm out of one meeting. [...]
NYSE votes for Deutsche deal July 7, 2011 SHAREHOLDERS in the New York Stock Exchange (NYSE) yesterday agreed to its planned $9.6bn (£6bn) takeover by Deutsche Boerse. The deal now needs approval from 75 per cent of the Frankfurt exchange operator’s shareholders by next Wednesday. The creation of the exchange titan also needs to survive a European Commission antitrust review.
Commodity shares lift FTSE on sunny US and China stats July 7, 2011 COMMODITY stocks led the FTSE 100 sharply higher yesterday, as US jobs data boosted confidence that the world’s biggest economy was showing signs of picking up heading into second-half. Integrated oils rose along with crude oil as reports showed US private employers stepped up hiring in June and the number of Americans filing for jobless [...]
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 [...]