New York Report: Wall St falls for fourth trading session in a row December 4, 2013 THE Dow and the S&P 500 finished lower for the fourth consecutive session yesterday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus. Stocks fell for much of the session, but edged closer to break-even levels in the last hour of [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]
Fiat boss rules out flotation of Chrysler unit before end of 2013 November 25, 2013 ITALIAN car-maker Fiat said yesterday that a planned initial public offering (IPO) of its US unit Chrysler will not take place this year, prolonging the uncertainty over whether it can reach a deal to buy the stake in the group it does not already own. Yet late last night Chrysler amended its S1 filing with [...]
Hilton hotel and Aramark price New York floats December 2, 2013 THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats. Hotel operator Hilton Worldwide and catering company Aramark, both backed by private equity firms, announced plans to raise up to $2.37bn (£1.44bn) and $833.8m respectively in initial public offerings [...]
Twitter picks NYSE for float October 15, 2013 TWITTER said last night it will list on the New York Stock Exchange, dealing a blow to the Nasdaq, which traditionally handle banner tech floats. The social network also showed that it kept up its pace of revenue and user expansion in the just-ended third quarter, and it is now set to kick off its [...]
Barclays’ Antony Jenkins must show dealmakers some love June 30, 2014 On the day that Barclays felt the full brunt of allegations about its so-called “dark pools” from a New York attorney general, its corporate finance arm in Europe was reporting a significant success. The London Stock Exchange (LSE) announced a merger deal and with it a near £1bn rights issue, solely underwritten by Barclays. This [...]
London Stock Exchange to buy Russell Investments for £1.6bn June 26, 2014 The London Stock Exchange went on the front foot yesterday to clinch the group’s biggest takeover in its 200-year history, landing a £1.6bn deal to challenge the dominance of its US rivals. The group will buy American index provider Russell Investments from Northwestern Mutual Insurance Company, after beating New York-based rival MSCI in a hotly [...]
Profits rise at ICE as it awaits its takeover of exchange rival NYSE November 5, 2013 ATLANTA-BASED InterContinental Exchange (ICE) said yesterday it expects to close its takeover of NYSE Euronext within days, and reported an eight per cent rise in third-quarter profit, helped by lower taxes and new clearing revenues. The derivatives exchange and clearing house operator said in December it would buy the owner of the New York Stock [...]
Wall St The Week Ahead: Wall Street all a-Twitter over public offering November 3, 2013 TWITTER will be the talk of Wall Street this week when the social media company goes public in the stock market’s most anticipated initial public offering since last year’s Facebook. Twitter is expected to price its IPO on Wednesday evening and begin trading on Thursday on the New York Stock Exchange. Twitter has said it [...]
Exxon’s profit falls but output still increasing October 31, 2013 EXXON Mobil, the world’s largest publicly traded oil company, reported higher-than-expected quarterly results yesterday as output rose for the first time in more than two years, but refining weakness hurt earnings. Exxon and other large oil companies struggling to boost production in recent years have spent heavily on new projects. In the first nine months [...]