Saudi knocked back by oil prices, Egypt mixed
Tue 2:22am DUBAI, Oct 13 (Reuters) - Saudi Arabia's stock market retreated moderately early on Tuesday because of a plunge of oil prices, while Egypt's market moved little after four days of gains. Brent crude oil sank 5.3 percent to below $50 a barrel on Monday, denting - though not destroying - hopes that oil prices had finally bottomed out. The Saudi stock index slipped 0.3 percent in the opening minutes as top petrochemical producer Saudi Basic Industries, which had jumped 12 percent in the past four days because of stronger oil prices, fell back 0.6 percent. ...
Citi dials down risky block trading amid market turmoil
Over the summer, as the U.S. stock market wobbled and then plunged 4 percent in a day, Citigroup made Mon 10:19pm Over the summer, as the U.S. stock market wobbled and then plunged 4 percent in a day, Citigroup made a tough choice: to dial down risk-taking in the bank's capital markets group. Phil Drury and Doug Adams, then co-heads of U.S. equity capital markets focused on block trading, a corner of the trading business where razor-thin margins can quickly turn to big losses when markets sour, according to people close to the matter. Citi plunged in the rankings for that part of the market during the third quarter to number eight, according to data provider Ipreo.
US pre-open: Futures edge lower as Chinese data disappoints
Mon 5:01pm (ShareCast News) - US stock futures edged lower on Tuesday, as Wall Street was left unimpressed by a set of weak Chinese trade data.
Wall St. ends up slightly as focus turns to earnings
(Reuters) - Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly highMon 1:37pm (Reuters) - Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher as investors remained nervous about third-quarter corporate results.
Wall Street ends up slightly as focus turns to earnings
The Dow rose for a seventh straight session, led by gains in UnitedHealth Group , which rose 2.7 peMon 1:35pm The Dow rose for a seventh straight session, led by gains in UnitedHealth Group , which rose 2.7 percent at $122.51. This week brings results from some top U.S. banks, among other companies, and investors are eyeing a projected 4.8 percent year-over-year decline in third-quarter S&P 500 earnings, according to Thomson Reuters data. A 1.1-percent drop in the energy index was the biggest drag on the S&P 500 as oil prices retreated 5 percent.
Is Now The Time To Invest In BP plc, Tullow Oil plc And The Parkmead ...
Mon 11:14am Stock market turmoil could have uncovered value in BP plc (LON: BP), Tullow Oil plc (LON: TLW) and The Parkmead Group (LON: PMG)
Sensex drops; Infosys falls most in 5 weeks after earnings
Mon 11:14am MUMBAI (Reuters) - India's stock markets fell around 0.6 percent on Monday, retreating from nearly two-month highs after Infosys Ltd reduced its full-year U.S. dollar revenue growth guidance, raising concerns about the outlook for the software services sector. Infosys retreated from a record high hit earlier in the day and closed 3.81 percent lower, posting its biggest single-day percentage fall since Aug. 24, a day when global markets reeled after steep falls in China's shares. ...
Factbox: Ferrari gears up for Wall Street debut
Mon 10:32am Here are some facts on the initial public offering. * FCA will sell up to 10 percent of Ferrari at $48-$52 a share, assigning the luxury sportscar maker a market capitalization of up to $9.8 billion. Including net debt, Ferrari's enterprise value is seen at up to $12 billion.
Ferrari needs more than racy market debut to stay ahead
By Agnieszka Flak MILAN (Reuters) - Ferrari is being launched as a luxury stock for its Wall Street debMon 8:38am By Agnieszka Flak MILAN (Reuters) - Ferrari is being launched as a luxury stock for its Wall Street debut but may struggle to justify such a valuation in the long run given its profit margins and the investment needed to put its prancing horse logo on other products. Fiat Chrysler Automobiles (FCA) is offering a 10 percent stake in Ferrari at $48-$52 a share, a price that would give the maker of famous sports cars such as the Testarossa a market capitalisation of up to $9.8 billion. Including net debt of 2 billion euros inherited as part of its separation from parent FCA, Ferrari's enterprise value could rise to 10.6 billion euros (8 billion pounds) - a valuation that helped push FCA shares as much as 2 percent higher on Monday.
Google, others help messaging startup Symphony raise $100 million ...
Mon 7:03am (Reuters) - Symphony Communication Services, a messaging startup backed by Wall Street banks, said it had raised more than $100 million in a new round of funding from investors including Google, UBS Group AG and European venture capital firm Lakestar. Symphony's chat service allows financial firms, corporate customers and individuals to put all of their digital communications on one centralized platform. The Wall Street Journal, citing sources familiar with the matter, reported last week that the new round of funding would value Symphony at about $650 million.
Global stocks mixed; Wall Street awaits corporate earnings
Mon 4:51am FRANKFURT, Germany (AP) — European stocks were mixed Monday after gains overnight in Asia. U.S. markets were poised for only a modest rise after last week's gains as investors await more corporate earnings reports.
Fiat Chrysler kick-starts sale of Ferrari stake
Mon 2:01am MILAN (AP) — Fiat Chrysler Automobiles NV has begun the process of selling a near 10-percent stake in luxury sports car brand Ferrari to Wall Street investors.