Archive for June, 2016

Wall St. rallies for third day as Brexit bruises fade

June 30th, 2016

Wall St. rallies for third day as Brexit bruises fade

New York Stock Exchange trader watches announcement by Fed Chair Janet Yellen in New YorkWall Street rolled to a third straight day of gains on Thursday as Britain’s central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International’s $23 billion bid for Hershey. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain’s economy over the summer.

Source
Stock Markets News Headlines – Yahoo! News

Brexit vote huge for UK, global markets coping well-Fed's Bullard

June 30th, 2016

Brexit vote huge for UK, global markets coping well-Fed's Bullard
LONDON, June 30 (Reuters) – Britain’s decision to leave the
European Union at a referendum last week is a “huge issue” for
the country but is not likely to have much impact on the United
States, a…

Source
Reuters: US Dollar Report

Wall Street rallies for third day as Brexit bruises fade

June 30th, 2016

Wall Street rallies for third day as Brexit bruises fade

Traders work on the floor of the NYSEIn the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain’s economy over the summer. “We’re reversing the ‘Brexit’ as it becomes evident that it was more of a political vote and decision than an economic decision,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

Source
Economy News Headlines – Yahoo! News

Wall Street rallies for third straight day

June 30th, 2016

Wall Street rallies for third straight day

Traders work on the floor of the NYSENEW YORK (Reuters) – Wall Street rolled to a third straight day of gains on Thursday as Britain’s central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International’s $23 billion bid for Hershey.

Source
Stock Markets News Headlines – Yahoo! News

FOREX-Sterling tumbles after dovish comments from BoE's Carney

June 30th, 2016

FOREX-Sterling tumbles after dovish comments from BoE's Carney
* Euro falls after Bloomberg report suggests more ECB
stimulus

Source
Reuters: US Dollar Report

Fidelity OTC fund boosted SolarCity stake by 20 percent in May

June 30th, 2016

Fidelity OTC fund boosted SolarCity stake by 20 percent in May
BOSTON (Reuters) – The Fidelity OTC Portfolio, the largest fund investor in SolarCity Corp, boosted its stake in the company by 20 percent in May, just weeks before Tesla Motors offered to buy the…

Source
Reuters: Money

Cash-heavy mutual fund managers buying on 'Brexit' volatility

June 30th, 2016

Cash-heavy mutual fund managers buying on 'Brexit' volatility
NEW YORK (Reuters) – Cash-heavy U.S. mutual fund managers are taking the sell-off triggered by Britain’s decision to leave the European Union as an opportunity buy into U.S. companies ranging from…

Source
Reuters: Money

Chesapeake Partners to shut hedge fund, cites M&A woes

June 30th, 2016

Chesapeake Partners to shut hedge fund, cites M&A woes
BOSTON (Reuters) – Chesapeake Partners, a $1.4 billion hedge fund that bet on special situations including mergers, bankruptcies and spin-offs, is shutting down after an 18-month stretch of losses,…

Source
Reuters: Money

S&P cuts rating on EU to 'AA' after Brexit

June 30th, 2016

S&P cuts rating on EU to 'AA' after Brexit

EU and British flags are adjusted before the EU summit in BrusselsStandard & Poor’s Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to ‘AA’ from ‘AA+’ but raised its outlook to “stable” from “negative” after the United Kingdom voted to leave the bloc. S&P is the first major ratings agency to cut rating on the EU. “After the decision by the UK electorate to leave the EU…we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” S&P said.

Source
Stock Markets News Headlines – Yahoo! News

Wall St. rallies for third day, healing Brexit wounds

June 30th, 2016

Wall St. rallies for third day, healing Brexit wounds

New York Stock Exchange trader watches announcement by Fed Chair Janet Yellen in New YorkWall Street posted solid gains for a third straight day on Thursday as Britain’s central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International’s $23 billion bid for Hershey. The three U.S. indexes were each up at least 1 percent, and have erased the bulk of their losses in the wake of Britain’s shock vote a week ago to leave the European Union that set off the worst two-day decline for Wall Street in 10 months. In the wake of the referendum, Bank of England Governor Mark Carney said on Thursday that the central bank would probably need to pump more stimulus into Britain’s economy over the summer.

Source
Stock Markets News Headlines – Yahoo! News