Stock Markets News
CAPM says plans first IPO on main Dubai exchange in 5 years
By Mirna Sleiman DUBAI, March 8 (Reuters) - CAPM Investment, an investment banking and asset management firm in the United Emirates, said it planned to arrange for a company to conduct the first initial public offer of shares on Dubai's main stock market in five years. The company, named Marka, is still in the process of being formed. Fifty-five percent of the company's equity, or 275 million shares, will be offered to the public in the IPO at 1 dirham per share on the Dubai Financial Market, CAPM said. That suggests the IPO would raise $75 million.
The Shanghai Stock Exchange has secured approvals from regulators to set up an international trading center in the free-trade zone, the chairman of the bourse said on Saturday. The move could pave the way for more foreign investors to tap the world's fourth-largest stock market by capitalization and also for foreign companies to issue shares in the world's second-largest economy. Gui Minjie, chairman of the Shanghai Stock Exchange, said significant progress has been made in recent years allowing Chinese firms to list on overseas markets. However, no foreign companies are allowed to issue shares on Chinese bourses.
By Ryan Vlastelica NEW YORK (Reuters) - Friday's stronger-than-expected payrolls report did more than ease concerns about U.S. economic fundamentals - it also seemed to justify Wall Street's record levels, suggesting the market's uptrend could continue. That bet has helped equities shrug off bearish data and geopolitical uncertainties in Ukraine, taking the S&P 500 to a series of record highs. "We're hoping the payroll report means we're on a stronger footing going ahead and that we can get more robust growth going forward," said Michael Mullaney, chief investment officer of Fiduciary Trust Co in Boston.
By Angela Moon NEW YORK (Reuters) - U.S. stocks finished mostly higher on Friday, with the S&P 500 closing at a record after more jobs than expected were created in February and January's figure was revised higher. The S&P 500 ended at a record closing high for the second day in a row. Friday's milestone also was the S&P 500's fifth record closing high in the past seven sessions. The S&P 500 had climbed to an intraday record of 1,883.57 shortly after the opening bell, lifted by the Labor Department's report showing that U.S. employers added 175,000 jobs to their payrolls in February.
How the Dow Jones industrial average did Friday
The stock market ended mixed Friday after a day of muddled trading. Among the three main U.S. stock indexes, one edged higher, one closed little changed and the other closed lower. Investors focused on ...
Stocks closed out a volatile week on Wall Street broadly in the red Friday, as investors digested a batch of mixed economic reports amid lingering concerns over whether central banks will pare back their stimulus programs.
With investors dumping assets ranging from bonds, currencies to equities, there appears to be a lack of hope among investors that central bank policies can generate real economic recovery, said strategists.
Jobless claims drop, showing labor market still healing
The number of Americans filing new claims for jobless benefits fell last week, nearing its lowest level in five years in a sign of resilience for the U.S. labor market.