123jump.com Staff
19 Mar, 2007
New York City
Market averages rebounded after a week of sideways trading. Barclays PLC and ABN Amro Holding are in preliminary merger talks. European stocks got a lift on the news. In the U.S. ServiceMaster agreed to go private for $4.5 billion and Triad Hospital acquired Community Health Systems for $5.1 billion. Oil field service company Hurluleus paid $2.3 billion in cash to purhcase Todco. Petrobras of Brazil purchased second largest fuel disctibutor Ipiranga for $4.1 billion.
123jump.com Staff
19 Mar, 2007
New York City
After a week of loss stocks regained their upward march on merger news. Community Health fell 4.2%, while Triad rose 5.4%. Drilling contractor Todco rose 19% when oil field-services company Hercules Offshore Inc. agreed to acquire the company for $2.3 billion in cash and stock. Hercules fell 6.1%. Barclays is reporteed to be in exclusive talks to buy ABN Amro Bank.
Elena
19 Mar, 2007
New York City
European stocks finished Monday trading session on a positive note, boosted by deal speculation in various sectors. Dutch banking group ABN Amro led the financial sector higher, rising 9.5% amid speculation that it had received a bid offer for 81 billion-pound from Britain''s Barclays. Brokers also helped the sector, with Deutsche Bank rising 1.7% on upgrades. The U.K. FTSE 100 rose 1%, the German DAX 30 climbed 1.4%, and the French CAC-40 gained 1.4%.
Elena
19 Mar, 2007
New York City
U.S. stock averages traded sharply higher on Monday, with the Dow up 100 points, lifted by overseas gains and a series of deal announcements including merger talk between two European banks. Dutch banking group ABN Amro jumped 9% amid reports that it is in merger talks with the U.K.''s Barclays. The offer is likely to spark a bidding war. Todco soared 17% after Hercules Offshore agreed to buy it for $2.3 billion. Triad Hospitals rose 5% on $5 billion offer from Community Health.
Ivaylo
19 Mar, 2007
New York City
London equities rose on Monday as a flurry of M&A activity restored some momentum to the market. Barclays was in focus as it was revealed the British bank was among several European lenders that has made approaches to ABN Amro of the Netherlands. Mid-cap company Mothercare was also in demand as well as Laird Group. The FTSE 100 was up 28 points at 6,158.6.
Ivaylo
19 Mar, 2007
New York City
Asian markets rallied Monday, with Japanese Nikkei 225 surging in the afternoon session as investors bought Advantest, NTT DoCoMo and other large-caps stocks on expectations of higher dividend payouts. The Shanghai Composite index in China reversed early losses to close higher despite the nation
Elena
19 Mar, 2007
New York City
U.S. stocks rallied at opening Monday, boosted by gains in overseas markets and several merger deals totalling about $10 billion. Hercules Offshore dropped nearly 10% after it said it agreed to buy Todco for $2.3 billion in cash and stock. Quanta Services gained 2.5%, following an agreement to acquire InfraSource Services for $1.26 billion in stock. ServiceMaster surged over 12% after it announced thatit will be bought by an investment group for $5.5 billion, including $1.02 billion in debt.
Ivaylo
19 Mar, 2007
New York City
The market opened with a positive bias and despite some instability in morning trade surged, especially in late session on fresh buying in select stocks like BHEL, ONGC and Reliance Comms. Short covering in the derivatives segment also boosted sentiment. Turnover was below average due to a bank holiday on account of Gudhi Padva. ITC and Hero Honda led the decliners. The Rajya Sabha passed the Appropriation Bill today.
Elena
19 Mar, 2007
New York City
U.S. stock futures pointed to a higher opening Monday, following a positive start for both European and Asian markets. In pre-market highlights, Nortel Networks dropped 2.7% after forecasting flat revenue. ServiceMaster soared 13% in the pre-open after agreeing to be bought by a private-equity consortium for about $5.5 billion, including about $1.02 billion in debt.
Ivaylo
19 Mar, 2001
New York City
European markets advanced Monday morning, as deal speculation boosted Dutch bank ABN Amro and tobacco company Altadis, while TUI gained as it agreed to merge its tourism operations with First Choice Holidays. ABN Amro rallied to a record after reports said Barclays Plc is in talks about buying the largest Dutch bank. Altadis soared, leading tobacco stocks higher. The U.K. FTSE 100 index rose 0.6%, the German DAX Xetra 30 Index rose 1% and the French CAC-40 index climbed 0.7%.
123jump.com Staff
17 Mar, 2007
New York City
Peoples Bank of China raised interest rate for the third time in less than twelve months to curb rising asset prices and slow the economy. Chinese economy continues to grow at more than 10% above the governemet target of 8% and inflation of less than 3%. Third rate hike in interest rate may not be enough to slow the economy as long as record trade surplus persists.
123jump.com Staff
16 Mar, 2007
New York City
Market averages closed lower on a day of volatile trading. Rising inflation and fallling consumer sentiment played a role in market sentiment. Industrial production rose 1% last month in the U.S. Banks and financial services stocks fell on worries of slowing economy and rising inflation. Manitowoc, Ann Taylor and Pacific Sunwear rose on earnings news. Stocks of financial exchanges declined after rising sharply a day ago. Hewlett Packard rose $8 billion share buy back. European markets gained.
123jump.com Staff
16 Mar, 2001
New York City
Stocks fell as Wall Street wrestled with inflation data that was better than market expectations but showed prices continue to rise despite a slowing economy. The Federal Reserve reported industrial production increased 1% in February, well above the 0.3% increase analysts expected. Wal-Mart Stores is scrapping a plan to set up a bank after months of intense debate with federal regulators and in Congress over whether the retailer should be granted the added financial power of a bank.
Ivaylo
16 Mar, 2007
New York City
Asian stocks ended mostly lower Friday, with Japanese stocks dipping as investors struggled with U.S. market data and its influence on exports. Japanese export-related shares turned in a mixed performance. Sony ended in positive territory, while Toyota Motor failed to hold afternoon gains. All regional markets ended lower, only Taiwan bucked the trend and advanced.
Ivaylo
16 Mar, 2007
New York City
Although the benchmark index opened with a positive bias it soon plunged in to negative territory on intense selling pressure in bank, cement and engineering stocks. Strong showing in Reliance Industries helped the markket reduce losses but it still finished lower. Reliance Comms and L&T led the decliners today, while Tata Motors and Ranbaxy rallied. Higher than expected wholesale inflation rate also darkened sentiment.
