French probe finds LVMH built up Hermes stake in secret: paper
2013-05-18 14:27:45 GMT : (Markets - Equity/Europe)
PARIS: The French stock market authority has found LVMH secretly bought shares in rival Hermes to build a stake, and not merely make a financial investment as the luxury group has claimed, a newspaper reported.LVMH said it would fight the findings of the watchdog's probe before its sanctions committee when it meets on May 31 to hear the company's defence.Hermes was not immediately availabl...
TSX rises as gold miners lone sore spot
2013-05-17 22:02:26 GMT : (Markets - Equity/Americas)
TORONTO: Canada's main stock index rose on Friday as robust economic data helped drive gains in energy stocks and financial shares, offsetting weakness in gold producers.The materials sector, a major component of the S&P/TSX composite which includes gold miners, was the lone sector to finish in the red of ten main sectors, as the price of gold fell for a seventh straight session.That weakn...
Strong data pushes US stocks to new records
2013-05-17 21:58:05 GMT : (Markets - Equity/Americas)
NEW YORK: US stocks resumed their upward push Friday with both the Dow and S&P 500 closing at new all-time highs following favorable US economic reports.The Dow Jones Industrial Average jumped 121.18 (0.80 percent) to 15,354.40.The broad-based S&P 500 rose 15.65 (0.95 percent) to 1,666.12, while the tech-rich Nasdaq Composite Index added 33.72 (0.97 percent) to 3,498.96.Friday's gains ...
European stocks stage rebound
2013-05-17 13:48:35 GMT : (Markets - Equity/Europe)
LONDON: Europe's main stock markets rebounded on Friday, with Paris jumping above 4,000 points for the first time since July 2011 as traders went bargain-hunting after earlier losses, dealers said.In late morning deals, the Paris CAC 40 rallied to 4,009.15 points, which was the highest level since July 7, 2011. It later stood at 3,992.65 points, up 0.34 percent from Thursday's close.Elsewh...
US stocks follow foreign markets higher
2013-05-17 13:43:36 GMT : (Markets - Equity/Americas)
NEW YORK: US stocks Friday opened in positive territory following gains in leading foreign markets.Five minutes into trade, the Dow Jones Industrial Average rose 55.13 (0.36 percent) to 15,288.35.The broad-based S&P 500 increased 7.15 (0.43 percent) to 1,657.62, while the tech-rich Nasdaq Composite Index jumped 18.67 (0.54 percent) to 3,483.91.Leading indices in France, Germany, Britain and Ja...
Asia shares mixed after US stocks dip
2013-05-17 07:46:36 GMT : (Markets - Equity/Asia)
HONG KONG: Asian shares were mixed on Friday after US stocks dipped on weaker-than-expected economic data following recent record-breaking gains.The dollar gained slightly in Asia as investors cautiously adjusted their positions following the unit's recent surge with brokers saying plenty of players, including importers, were willing to buy on dips.Tokyo gained 0.67 percent or 100.88 points to...
China shares close out third weekly gain with late flourish
2013-05-17 07:09:40 GMT : (Markets - Equity/Asia)
HONG KONG: China shares closed out their third-straight weekly gain strongly on Friday, as investors chased a rally in property stocks ahead of April home price data due on Saturday.The CSI300 of the leading Shanghai and Shenzhen A-share listings climbed 1.5 percent, while the Shanghai Composite Index closed up 1.4 percent at 2,282.9. This week, they rose 2 and 1.6 percent, respectively.Copyright ...
FTSE falls after Fed comments
2013-05-17 07:07:46 GMT : (Markets - Equity/Europe)
LONDON: Britain's top share index fell on Friday, easing back further off 5-1/2-year highs, with investors cautious after US central bank officials said the Federal Reserve could begin easing up its monetary stimulus this summer.The FTSE 100 was down 3.35 points, or 0.1 percent, at 6,684.45 by 0702 GMT, having slipped 0.1 percent on Thursday - to snap a 10 session winning streak - when weak da...
Tokyo stocks close up 0.67pc
2013-05-17 06:20:12 GMT : (Markets - Equity/Asia)
TOKYO: Tokyo stocks advanced 0.67 percent Friday, recovering from earlier losses, on growing expectations of Japan's economic recovery on the back of its government's economic measures.The benchmark Nikkei 225 index on the Tokyo Stock Exchange closed up 100.88 points to 15,138.12, while the Topix index of all first-section shares rose 0.64 percent, or 8.01 points, to 1,253.24.Copyright AFP...
China shares flat in morning trade
2013-05-17 04:11:18 GMT : (Markets - Equity/Asia)
SHANGHAI: Chinese shares were flat in early trading on Friday, dealers said.The benchmark Shanghai Composite Index edged up 0.07 percent, or 1.62 points, to 2,253.43.Copyright AFP (Agence France-Presse), 2013
Asia shares mixed after US stocks dip
2013-05-17 04:04:29 GMT : (Markets - Equity/Asia)
HONG KONG: Asian shares were mixed on Friday after US stocks dipped on weaker-than-expected economic data following recent record-breaking gains.The dollar gained slightly in Asia as investors cautiously adjusted their positions following the unit's recent surge with brokers saying plenty of players, including importers, were willing to buy on dips.Tokyo stocks lost 0.12 percent by the break, ...
US stocks dip on Walmart, middling data
2013-05-16 22:53:28 GMT : (Markets - Equity/Americas)
NEW YORK: US stocks Thursday took a pause from a recent winning streak, selling off after a disappointing earnings report from Walmart and some middling economic data.The Dow Jones Industrial Average dropped 42.47 (0.28 percent) to 15,233.22.The broad-based S&P 500 fell 8.31 (0.50 percent) to 1,650.47, while the Nasdaq Composite Index slipped 6.37 (0.18 percent) to 3,465.24. Both the Dow and t...
European shares dented by earnings, weak US data
2013-05-16 22:27:55 GMT : (Markets - Equity/Europe)
LONDON: European shares ended a touch lower on Thursday, pegged back by downbeat earnings news and US data, although some analysts expect the market to resume its grind higher.The FTSEurofirst 300 closed down 0.21 point at 1,245.45, with heavyweight Swiss insurer Zurich off 3.3 percent after a 7 percent drop in first-quarter net profit.Concerns about the global economy were heightened by weak data...
Stocks slip, dollar gains on Fed policy remarks
2013-05-16 22:05:14 GMT : (Markets - Equity/Americas)
NEW YORK: Global equity markets fell on Thursday after a regional president of the Federal Reserve said the US central bank could begin to ease up on its loose monetary policy this summer, leading the dollar to recover against the euro.Equities had traded mostly flat to slightly lower during most of the session on reports that US housing, labor and regional business conditions pointed to soft spot...
Telus, banks help TSX overcome soft data
2013-05-16 21:56:47 GMT : (Markets - Equity/Americas)
TORONTO: Canada's main stock index advanced on Thursday, boosted by stronger financial stocks and a move by telecoms company Telus Corp to acquire a smaller wireless carrier.Telus said it will pay C$380 million ($370 million) for Mobilicity, whose recent entry into the industry helped force prices down, even though the debt-laden company failed to draw many customers.The index's gains were...
Wall Street slips after Fed comments, but Cisco surges
2013-05-16 21:55:18 GMT : (Markets - Equity/Americas)
NEW YORK: US stocks fell on Thursday, with the downturn accelerating late in the day after a Federal Reserve official said the central bank could begin easing up on its monetary stimulus this summer.The three major US stock indexes had earlier traded in a tight range, supported by a gain of more than 12 percent in Cisco Systems shares and as investors took in a batch of economic data that pointed ...
US stocks mixed after setting fresh records
2013-05-16 14:28:02 GMT : (Markets - Equity/Americas)
NEW YORK: US stocks were mixed in early trade Thursday after two record-setting days, with US economic data confirming the March-April lull but also pointing to continued Fed easing.Thirty minutes into trade, the Dow Jones Industrial Average was down 15.59 points (0.10 percent) to 15,260.10The broad-based S&P 500 lost 2.61 (0.16 percent) at 1,656.17, while the Nasdaq Composite gained 3.16 poin...
Sri Lanka's bourse at 1-1/2 year high on foreign, retail buying
2013-05-16 14:10:00 GMT : (Markets - Equity/Asia)
COLOMBO: Sri Lankan shares rose more than 1 percent on Thursday to hit a 1-1/2 year high, with foreigners dominating trading, while retail investors also bought after a fall in interest rates.The main stock index rose 1.06 percent, or 65.88 points, to close at 6,287.00, its highest since Nov. 11, 2011.Foreign investors bought 1.28 billion rupees ($10.16 million) of stocks. On a net basis, they bou...
Indian shares gain on rate cut hopes, MSCI additions
2013-05-16 13:05:01 GMT : (Markets - Equity/Asia)
MUMBAI: Indian stocks edged higher on Thursday, with the NSE index at a 2-1/2 year high, as lenders continued their rally on expectations of early rate cuts by the central bank, while four additions to the MSCI India index, including Wockhardt, also gained.Expectations the Reserve Bank of India could cut interest rates as early as its next policy review on June 17 have risen sharply after data ear...
TSX may open lower on weak euro zone data
2013-05-16 12:55:37 GMT : (Markets - Equity/Americas)
TORONTO: Canada's main stock index looked set to open lower as weak euro zone consumer inflation figures overshadowed positive data that showed Japan's economy grew faster than expected.TOP STORIES * Japan's economy expanded at a rapid clip at the start of the year, the first hard evidence that Prime Minister Shinzo Abe's sweeping stimulus is beginning to rouse consumers and busine...