Hopes for earnings see Wall Street rise October 6, 2009 WALL Street stocks rose yesterday amid signs the global economy was recovering and optimism that corporate earnings reports will beat expectations. The economic optimism spurred gains in energy and other commodities, lifting shares of oil and resource companies. Shares of Exxon Mobil rose 1.6 per cent to $68.66 and were among the top gainers on [...]
KKR to list on Euronext today October 1, 2009 Kohlberg Kravis Roberts (KKR) lists on public markets today. KKR shares will float on the Euronext exchange, after the firm finalised its merger with affiliated fund, KKR Private Equity (KPE), which was already listed on the exchange. Combining with KPE gave KKR a means to complete a market listing, after its initial plans to list [...]
ROLET BRINGS IN THE BANKING BIG HITTERS TO EYE UP M&A TARGETS September 30, 2009 MUCHOS excitement on the markets yesterday after Xavier Rolet continued in his quest to stamp his mark on the London Stock Exchange by axing its long-standing M&A advisers. Rolet has made no secret of his ambitious plans for the exchange, which he hopes to turn into a £10bn business via a number of strategic acquisitions [...]
Virgin Media heads for UK share listing September 28, 2009 CABLE operator Virgin Media said yesterday it would launch a secondary listing on the London Stock Exchange to widen its appeal to British and European investors. The move, which will allow investors to buy the stock in sterling, sent its shares up 5.8 per cent at $13.12 (£8.26) on the Nasdaq exchange in New York. [...]
Excess supply and low demand mean that crude oil could touch a low of $58 September 27, 2009 SEPTEMBER has been a good month for major oil exploration and production companies, with a number of giants such as BP and Tullow striking black gold in recent weeks, sending their share prices soaring. BP’s share price rose more than 4 per cent following the announcement, while Tullow saw a similar gain. But while the [...]
Artio raises $650m as Julius Baer unit floats in New York September 24, 2009 ARTIO Global Investors, the US asset management arm of Swiss private bank Julius Baer, listed on the New York Stock Exchange yesterday, gaining nearly seven per cent on its offering price. The asset manager’s stock opened at $27.30 per share, up from the initial public offering (IPO) price of $26 and rose to $27.74 during [...]
DELL SNAPS UP PEROT FOR $4BN September 21, 2009 PCGIANT Dell announced yesterday that it plans to buy computer services firm Perot Systems for about $3.9bn (£2.4bn), in a bid to compete with Hewlett-Packard and IBM. Dell intends to pay a steep 67.5 per cent premium to expand its technology services business into higher margin IT services, thereby securing more stable and recurring revenues [...]
Santander to raise billions in Brazil IPO September 21, 2009 SANTANDER is to raise up to $7.3bn (£4.5bn) via an initial public offering of shares in its Brazilian subsidiary, the bank said yesterday. The Spanish bank – the world’s second largest – said it would sell shares constituting 16.2 per cent of the division, which will trade on the Brazilian stock exchange and the New [...]
Years of hard work yield success for London’s first couple of wine September 13, 2009 WHEN wine-lover Xavier Rolet, the new CEO of the London Stock Exchange, first saw the house known as La Verriere in southwest France in 1992, he knew he liked it. What he didn’t know was that the 100 acres of old, neglected vineyards on the mountainous property would become the site of a full-blown, deeply [...]
Weak dollar helps stocks on WallSt September 9, 2009 US STOCKS closed higher for a fourth straight day yesterday, sending the Standard & Poor’s 500 index to its best finish so far this year as industrial and technology companies gained from a weak dollar. The dollar’s fall to a 2009 low helped to make US products more competitive overseas. Earth-moving equipment maker Caterpillar, rose [...]