NYSE boss:high freq trading safe October 13, 2009 THE head of the New York Stock Exchange said that it was not necessary to bring more oversight to high frequency trading, a split-second stock trading strategy that has come under increasing scrutiny. The US Securities and Exchange Commission recently said it was reviewing high frequency trading. “I frankly hope the SEC does not do [...]
Alcoa posts a surprise profit October 8, 2009 ALCOA shares rose by around four per cent yesterday after the aluminium producer reported its first profit in a year in what Wall Street viewed as a bellwether of how industrial companies are recovering. Five investment banks – Citigroup, Desjardins, UBS, RBC and S&P Research – raised Alcoa’s target stock price, a day after the [...]
Insurers fail to lift the FTSE as investors await US results October 7, 2009 BRITAIN’S leading shares closed lower yesterday as falls in oil majors and food retailers offset gains in insurers as investors waited for the start of the earnings seasons in the US to give a fresh direction. The FTSE 100 closed down 29.08 points, or 0.6 per cent, at 5,108.90, after ending 2.3 per cent higher [...]
Aviva to list in New York October 7, 2009 INSURANCE giant Aviva has announced plans to list on the New York Stock Exchange as it embarks on a drive to raise its profile in the US. The company, the world’s fifth-largest insurer by gross premiums, said it would begin trading on 20 October, just days after it said it would launch a partial initial [...]
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 [...]