04302016Sat
Last update: Sat, 30 Apr 2016 02am

Americas

Markets - Equity - Americas

US and European stocks gain as oil, pharma shares rally NEW YORK: European and US stocks climbed Wednesday on higher oil prices and as global pharmaceutical shares got an unexpected boost from the demise of the $160 billion Pfizer-Allergan merger.Sentiment was lifted by a more than five percent jump in oil prices after the US Department of Energy reported a large fall in commercial crude inventories. Analysts of the oil market also pointed to comments from a top Kuwait petroleum officials as strengthening the odds for an agreement by global petroleum exporters later this month to limit output.Pharmaceutical stocks unexpectedly rallied after Pfizer and Allergan withdrew their proposed $160 billion merger following US Treasury restrictions discouraging cross-border deals designed to avert US taxes.Dow member Pfizer jumped 5.0 percent and Allergan 3.5 percent. But other pharma stocks were also strong, with Swiss-based Novartis gaining 2.3 percent, France's Sanofi 3.5 percent and US biotech companies such Biogen and Celgene climbing five percent ...

Markets - Equity - Americas

US stocks rise on higher oil, dovish Fed minutes NEW YORK: Wall Street stocks rose solidly Wednesday as higher oil prices lifted petroleum-linked shares and minutes from the Federal Reserve suggested the US central bank would keep interest rates low.The Dow Jones Industrial Average rose 112.73 (0.64 percent) to 17,716.05.The broad-based S&P 500 rose 21.49 (1.05 percent) to 2,066.66, while the tech-rich Nasdaq Composite Index jumped 76.78 (1.59 percent) to 4,920.72.Dow member Chevron rose 2.3 percent and Apache advanced 5.1 percent as oil prices ...

Markets - Equity - Americas

Wall St rises with healthcare; oil rallies U.S. stocks rose on Wednesday, bolstered by gains in healthcare shares after the collapse of the $160 billion merger of Pfizer and Allergan, and by a rise in energy shares.Indexes slightly pared gains after the release of minutes from the most recent Federal Reserve meeting. They showed policymakers debated last month whether an interest rate hike would be needed in April, though a consensus emerged that risks from a global economic slowdown warranted a cautious ...

Markets - Equity - Americas

CME live cattle futures end higher, but off session tops CHICAGO: Chicago Mercantile Exchange live cattle contracts on Wednesday reversed some of Tuesday's heavy losses, helped by short-covering and bargain hunting, traders said.April live cattle ended 1.400 cents per lb higher at 132.075 cents, and June closed 1.100 cent higher at 121.850.Futures' price discount to early-week prices for market-ready, or cash, cattle encouraged buyers. Uncertainty about subsequent cash returns capped market advances.So far, southern Plains cash cattle sold for $132 to $133, steady to down ...

Markets - Equity - Americas

US STOCKS SNAPSHOT-Healthcare, energy shares boost Wall Street NEW YORK: U.S. stocks jumped on Wednesday, bolstered by gains in healthcare shares after the collapse of the $160 billion merger of Pfizer and Allergan, and by a rise in energy shares.The Dow Jones industrial average rose 113.07 points, or 0.64 percent, to 17,716.39, the S&P 500 gained 21.53 points, or 1.05 percent, to 2,066.7 and the Nasdaq Composite added 76.78 points, or 1.59 percent, to 4,920.72.Copyright Reuters, 2016 ...

Markets - Equity - Americas

US stocks drop ahead of earnings; Allergan hit NEW YORK: Wall Street stocks dropped Tuesday on worries about weak first-quarter earnings as drugmaker Allergan slumped on new US tax rules that threaten the drugmaker's takeover by Pfizer.At the closing bell, the Dow Jones Industrial Average stood at 17,604.45, down 132.55 points (0.75 percent).The broad-based S&P 500 shed 20.82 (1.01 percent) to 2,045.31, while the tech-rich Nasdaq Composite Index dropped 47.83 (0.98 percent) to 4,843.96.Companies in the S&P 500 are expected to see a ...

Markets - Equity - Americas

US stocks drop ahead of earnings; Allergan hit NEW YORK: Wall Street stocks dropped Tuesday on worries about weak first-quarter earnings as Allergan slumped on new US tax rules that threaten the drugmaker's takeover by Pfizer.The Dow Jones Industrial Average fell 133.68 points (0.75 percent) to 17,603.32.The broad-based S&P 500 shed 20.96 (1.01 percent) to 2,045.17, while the tech-rich Nasdaq Composite Index dropped 47.86 (0.98 percent) to 4,843.93.Companies in the S&P 500 are expected to see a 4.2 percent drop in earnings for ...