Nasdaq glitch confuses investors of Facebook IPO
Some investors who thought they had bought Facebook shares at the opening of trading were left without knowing for hours whether they had received the shares.
Sensex recovers on SBI earnings boost
MUMBAI (Reuters) – The Sensex provisionally rose 0.8 percent on Friday after State Bank of India reported higher-than-expected earnings, which led to buying in financial shares. Stocks pared early session losses which were triggered by continued weakness in the rupee which hit a new life low in the session. Shares in SBI closed 5.82 percent up, while ICICI Bank rose 2.76 percent. Tata Motors shares closed 3.5 percent down. The Sensex rose 0.78 percent to 16,195.81 points. The Nifty added 0.44 percent at 4,891.45 points.
Spain stocks extend losing streak after downgrade
Spain’s stock market flirted with seven-year lows Friday as investors continued to worry about the stability of the eurozone’s financial system in light of the downgrading by credit ratings agency Moody’s of the country’s banking industry.
Stock index futures point to modest rebound
U.S. stock index futures pointed to a slightly higher open on Wall Street on Friday, with futures for the S&P 500 and the Dow Jones up 0.2 percent and Nasdaq futures up 0.3 percent at 4:41 a.m. EDT. Japan’s Nikkei average dived 3 percent on Friday to log a seventh straight week of losses, its longest such run since the third quarter of 2001, as investors sold stocks and other risky assets on concerns over slowing global growth and a deepening euro zone crisis. Incoming French President Francois Hollande meets with U.S. …
TEXT-S&P Summary: Central China Real Estate Ltd.
We expect CCRE’s projects to remain concentrated in Henan province. This is despite thecompany’s increased operating scale and number of projects. We believe that CCRE has limitedscope to mitigate economic conditions and policy risks in Henan. Nevertheless, policy risks arelower than in markets in coastal regions because the property market in Henan is less developedand more end-user driven. CCRE’s good sales execution is likely to support steady property sales, in our view. …
BSE Sensex recovers after SBI earnings
MUMBAI (Reuters) – The BSE Sensex sharply cut earlier losses to edge higher on Friday after better-than-expected earnings from State Bank of India relieved concerns about non-performing loans and credit growth in the lending sector. The benchmark BSE index rose 0.25 percent, recovering from an earlier fall of as much as 1.6 percent. The 50-share NSE index gained 0.27 percent. SBI shares rose 3.3 percent after India’s biggest lender reported net profit surged from a year earlier on the back of a sharp drop in provisions for bad loans and strong credit demand. The NSE bank index rose 1. …
Nervous investors send S&P lower for fifth day
NEW YORK (Reuters) – U.S. stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country’s banks and another round of weak data undermined hopes for U.S. economic recovery. Growing worries over developments in the euro zone and lackluster economic data pushed the S&P’s losing streak to five consecutive days. The index, which closed at a level not seen since mid-January, has now relinquished more than half of its gains from the first quarter. …
Insight – Who got Facebook IPO shares? Fairness may not come into it
NEW YORK (Reuters) – A lot of loyal Facebook fans and occasional investors are discovering a hard truth this week: Money and connections talk, especially when it comes to a hot deal handled by Wall Street. The scramble for shares in what is one of largest initial public offerings in U.S. history quickly divided the haves from the have-nots on Thursday. Those with big brokerage accounts and a long history as customers of Wall Street firms likely got at least part of their orders for Facebook shares filled, but would-be buyers who had no such ties were lucky to get any. …
Insight: Who got Facebook IPO shares? Fairness may not come into it
NEW YORK (Reuters) – A lot of loyal Facebook fans and occasional investors are discovering a hard truth this week: Money and connections talk, especially when it comes to a hot deal handled by Wall Street.
Investors brace for Facebook debut on Wall Street
(Reuters) – Investors are bracing for Facebook’s Wall Street debut on Friday after the world’s No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. Valued at $104 billion, Facebook is larger than Starbucks Corp and Hewlett-Packard combined, sparking intense speculation on how much higher its valuation will rise once shares start trading. “A 15 to 20 percent pop is in the realm of possibility,” said Tim Loughran, a finance professor at the University of Notre Dame. …