Renren soars after float May 4, 2011 SHARES of Renren, dubbed “China’s Facebook”, surged nearly 50 per cent in their stock market debut yesterday in the latest sign that investors are eager to buy into social media and China’s booming internet sector. The shares rose to $20.62 (£12.50), or 47.3 per cent above their $14 IPO price, in early trading on the [...]
US shares knocked by economic stats May 4, 2011 WEAK economic figures heightened stock investors’ anxiety over the extended rally, knocking US shares lower for a third day yesterday. Recent winners in the energy and industrials sectors were hit most, and a key indicator of investor worry rose for a fourth day in what some say is the outset of extended weakness for stocks. [...]
Nasdaq takes bid for NYSE to investors May 3, 2011 NASDAQ OMX and Intercontinental Exchange (ICE) are planning to take their takeover bid for NYSE Euronext straight to the Big Board’s shareholders, as they ramp up attempts to corner the company into talks. Nasdaq and ICE have said they will launch a tender offer for NYSE’s shares later this month. It comes after NYSE’s board [...]
Arch Coal to buy International May 2, 2011 ARCH Coal, the second largest US coal producer, will buy smaller peer International Coal Group for $3.4bn (£2.04bn), the companies said yesterday. Arch will pay $14.60 per share for International Coal, a 32 per cent premium to the closing stock price on Friday. The companies expect the deal to close in the second quarter. The [...]
US stocks slip after bin Laden bounce gives way to fears May 2, 2011 US stocks slipped yesterday, as an early bounce on Osama bin Laden’s death gave way to questions around the longevity of the market’s recent rally. The impact of bin Laden’s death by US forces on financial markets prompted a quick flurry of buying, which was viewed as an emotional response. The Dow swung 92 points [...]
Corporate results boost US stocks April 26, 2011 A FRESH batch of corporate results pushed US stocks to their best levels since June 2008 yesterday, renewing optimism that profit growth will remain resilient enough to keep equities on the rise. The S&P 500 barreled through the 1,344 level, seen as a key resistance point the benchmark index needed to surpass in order to [...]
US stocks fall over fears of commodity price rises April 25, 2011 IN the lightest volume session of the year, US stocks fell yesterday after a lowered outlook from Kimberly-Clark increased concerns about higher commodity costs squeezing profits in coming quarters. About 5.4bn shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below the daily average of 7.74bn. Kimberly-Clark fell 2.7 per [...]
Results surprises push US shares up April 20, 2011 BIG earnings surprises gave a positive turn to investor sentiment yesterday, propelling US stocks to their best day in a month and lifting the Dow to its highest in almost three years. Investors had been set up for a series of disappointments but got an unexpected treat from blue chips Intel and United Technologies, sparking [...]
Goldman results limit market gains April 19, 2011 ENCOURAGING results from health care and materials companies lifted US stocks yesterday, but weak earnings from Goldman Sachs limited gains in a market skeptical of the growth outlook. Investors were reluctant to make big bets as the market readied for a spate of high-profile earnings. Volume was extremely low, with 6.56bn shares traded on the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2011 FINANCIAL TIMES BOSCH WARNS JAPAN CRISIS WILL SLOW GLOBAL GROWTH The impact of last month’s Japanese earthquake will cut global economic growth by a quarter of a percentage point and could put a big dent in planed increase in car production this year, the head of the world’s largest car parts supplier warned. Franz Fehrenbach, [...]