Profit takers drive Wall Street lower February 9, 2011 INVESTORS took profits after a recent rise in US stocks today, but a late-hour rally in Bank of America shares helped the Dow squeeze out its eighth straight day of gains. Market participants remain confident that solid corporate earnings will inspire further advances, but a recent string of lightly traded sessions raises worries that buying [...]
London Stock Exchange in merger deal February 8, 2011 THE LONDON Stock Exchange (LSE) has agreed a merger with Canada’s TMX Group to create one of the world’s biggest market platforms. The merged company will have a market capitalisation of £4.3bn, making it the seventh-biggest exchange in the world and the largest in terms of number of companies listed. The London Stock Exchange has [...]
Dow rise fuelled by McDonald’s lift February 8, 2011 THE Dow notched a seventhstraight day of gains yesterday, but light volume suggested that investors don’t believe the more than five-month rally has the legs to keep going. Surprisingly strong sales by McDonald’s boosted optimism on consumer spending and drove the Dow’s gains on what turned out to be the quietest day of trading so [...]
Wall Street’s size and high liquidity are a draw for IPOs February 8, 2011 The New York Stock Exchange, or NYSE, is the world’s largest stock exchange by market capitalisation. Figures from December 2010 show that the value of its 3,923 listed companies was $13.39 trillion (£8.31 trillion). This in itself makes it an exchange that should not be ignored by UK investors looking for global diversification. The origins [...]
The world lists in New York February 8, 2011 America is home to many of the world’s biggest companies. However, as mentioned above, NYSE Euronext has a truly global reach. Leading business from Asia, Latin America and Europe choose the exchange for their primary or secondary listings. And this includes many of the UK’s largest blue chip businesses. The top five UK companies listed [...]
Mergers drive US despite light volume February 7, 2011 MERGER activity drove the Dow and S&P to two-and-a-half-year highs yesterday in the latest in a series of mileposts that point to more gains ahead. Buying accelerated after the S&P 500 broke through the 1,313 mark, taking the index further into levels that prevailed before the financial crisis. More than two stocks rose for every [...]
Wall Street rises on strong retail figures February 3, 2011 US stocks ended near the session’s highs yesterday, with investors favouring shares of retailers after encouraging chain-store sales raised confidence ahead of today’s jobs report. The Morgan Stanley retail index rose 2.8 per cent, driven by companies such as Sears Holdings, up almost eight per cent, and Ross Stores, up six per cent and at [...]
Amsterdam: 400 years on, and still rich in promise February 1, 2011 The Amsterdam Stock Exchange was established in 1602 by the Dutch East India Company to allow people to buy and sell its printed stocks and bonds. As such, it is considered the oldest stock exchange in the world. Things have changed a lot since then, though, and the Amsterdam exchange now forms part of NYSE [...]
Oil hits $100 due to Suez supply fears January 31, 2011 OIL surged over $100 a barrel for the first time in more than two years yesterday as investors feared the turmoil engulfing Egypt could disrupt shipments passing through the Suez canal and impact supply. Brent crude for March, the global benchmark, leapt by $1.59 to settle at $101.01 a barrel – the highest since Lehman [...]
Recovering economies drive Exxon profit rise January 31, 2011 Exxon Mobil has reported a better-than-expected 53 per cent increase in quarterly profit, helped by a lower tax rate and recovering world economy. Oil demand rose last year and the US government expects another 1.5 per cent gain this year as businesses’ and consumers’ appetite for fuels rise as the global economy slowly mends. Exxon [...]