Stock Markets News Headlines - Yahoo! News

	Stock Markets News Headlines - Yahoo! News
	French probe finds LVMH built up Hermes stake in secret-paper PARIS (Reuters) - The French stock market authority has found LVMH secretly bought shares in rival Hermes to build a stake, and not merely make a financial investment as the luxury group has claimed, a newspaper reported. LVMH said it would fight the findings of the watchdog's probe before its sanctions committee when it meets on May 31 to hear the company's defence. Hermes was not immediately available for comment. LVMH, which owns 22. ... Read More » Markets Weekahead - Sensex risks consolidation; SBI earnings Reuters Market Eye - The BSE Sensex runs the risk of some consolidation after indexes ended at their highest close since November 2010 on Friday. Earnings will be key, with Coal India Ltd , State Bank of India Ltd and Jet Airways Ltd set to report next week. Investors will also be eyeing whether strong foreign buying continues. Overseas investors were net buyers for 21 consecutive sessions as of Thursday, bringing their net purchases for the year to about $13 billion, according to regulatory data. ... Read More » Wall Street Week Ahead: Correction talk gets old as rally sails along By Angela Moon NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. ... Read More » Tata Tele (Maharashtra) share sale cancelled NEW DELHI (Reuters) - Tata Sons Ltd, the promoter of Tata Teleservices (Maharashtra) Ltd , cancelled a share auction it had launched in the telecommunications carrier on Friday after most bids were below a floor price set by the company. Tata Sons had planned to sell 51.6 million shares or a 2.7 percent stake in the phone company and increase the public holding to 25 percent in line with rules issued by the stock market regulator. ... Read More » NYSE cancels irregular trades in Anadarko stock: Bloomberg (Reuters) - The New York Stock Exchange canceled trades in Anadarko Petroleum Corp after a blip in trading cut the market value of the company by 99 percent, according to a report in Bloomberg. Trading in the shares of the $45.15 billion company plunged to trade at 1 cent per share shortly before markets closed on Friday. The stock gained back its losses and closed up 2.5 pct $90.03 on the New York Stock Exchange. NYSE Euronext canceled trades executed at or below $87.56, the news agency said. (http://r.reuters.com/pyv28t) The U.S. ... Read More » Dow, S&P end at records, stocks mark 4th week of gains By Leah Schnurr NEW YORK (Reuters) - U.S. stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. The indexes have pushed to a series of never-before-seen levels as part of the rally that has lifted equities more than 16 percent for the year so far. ... Read More » Stocks rise on hopeful signs for the US economy NEW YORK (AP) — Encouraging news about the U.S. economy extended the stock market's rally Friday. Read More » Dow, S&P end at records, stocks mark fourth week of gains By Leah Schnurr NEW YORK (Reuters) - Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. The indexes have pushed to a series of never-before-seen levels as part of the rally that has lifted equities more than 16 percent for the year so far. ... Read More » Bill clears House for wider SEC economic analyses Legislation cleared the House on Friday that would place stricter requirements on the federal agency overseeing Wall Street to assess the costs and benefits of its regulations before they are issued. The ... Read More » Marketo jumps in 1st day trading on Nasdaq Shares of Marketo, a provider of cloud-based marketing software, leaped in their trading debut on Friday. The stock rose $7.70, or 59.2 percent, to $20.70 in afternoon trading. The shares were priced at ... Read More » Wall Street bonuses, staff levels to rise in 2013: consultant NEW YORK (Reuters) - Wall Street bonuses and staff levels are expected to rise this year as trading and dealmaking activity pick up, according to a closely watched report released on Friday by a compensation consulting firm. Johnson Associates Inc predicts that senior bank executives will receive bonus increases of 5 percent to 15 percent, with investment bankers getting the biggest potential bonus increases of up to 20 percent. ... Read More » Dollar soars, stocks gain amid talk of Fed QE exit By Herbert Lash NEW YORK (Reuters) - Global equity markets rose and the dollar soared against a basket of currencies on Friday, reaching a nearly three-year peak, as speculation mounted over whether the Federal Reserve would soon begin to rein in its asset-buying program. Wall Street opened higher, with the benchmark S&P 500 rebounding from its worst decline in nearly three weeks, following gains in European shares that were lifted by carmakers cheered on by signs of a revival in domestic sales. Also lifting stocks was a survey that showed a rebound in U.S. ... Read More » S&P warns of downgrade, government not too worried New Delhi, May 17 (IANS) Ratings agency Standard & Poor's (S&P) Friday said its outlook on India remained negative and there is a one-in-three chance of a downgrade within the next 12 months. But the government asserted that there is nothing to worry about as it is taking the right measures to keep the country on a sustainable growth path. Read More » Stocks edge higher in early trading on Wall Street NEW YORK (AP) — Stocks are slightly higher in early trading on Wall Street, even as several big retailers slumped after reporting disappointing earnings. Read More » Toscafund bullish on UK economy and stock market By Laurence Fletcher LONDON (Reuters) - A booming population, fuelled by immigration, will help Britain's economy to grow more strongly than Germany's later this decade and could drive its stock market much higher, according to one of the UK's biggest equity hedge funds. Toscafund, with $1.3 billion of funds open to investment, made its bullish predictions amid signs the UK economy is starting to recover from five years of torpor brought on by the financial crisis, while the euro zone is mired in recession. ... Read More » In blow for India, S&P affirms negative rating outlook By Suvashree Dey Choudhury and Shamik Paul MUMBAI (Reuters) - Standard & Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade. The rating agency said the main drag on India's rating is a high fiscal deficit and heavy government borrowing, although it also said India's position had improved over the past year. S&P's statement came as Finance Minister P. ... Read More » S&P maintains negative outlook on India New Delhi, May 17 (IANS) Global ratings agency Standard & Poor's (S&P) Friday said its outlook on India remained negative and there is a one-in-three chance of a downgrade within the next 12 months. Read More » S&P expects GDP growth at 6 percent in 2013/14 MUMBAI (Reuters) - Standard & Poor's expects India to grow around 6 percent in the current fiscal year ending March 2014, said credit analyst Takahira Ogawa. The rating agency also does not expects any significant improvement in structural reforms in India, Ogawa said in a teleconference, after reiterating in a release the negative outlook on India's credit rating, which is one notch above junk status. (Reporting by Suvashree Dey Choudhury; Editing by Prateek Chatterjee) Read More » OCI NV says earnings hit by gas supply constraints (Adds detail, background, writes through) By Maggie Fick CAIRO, May 17 (Reuters) - Egyptian construction andfertiliser group OCI said its core earnings were flatin the first quarter, citing lower construction margins andreduced output at its Egyptian plants due to interruptions insupplies of natural gas. The Dutch-listed parent of Orascom Construction Industries(OCI) said output from its Egyptian plants was reducedby the gas supply reductions, which it linked to a tax disputebetween its subsidiary OCI and the Egyptian authorities. ... Read More » Shares fall as Fed officials talk of QE exit By David Brett LONDON (Reuters) - The dollar held firm near a 10-month high versus a basket of currencies on Friday and European shares fell after a regional Federal Reserve chief said the U.S. central bank may begin to taper its asset buying this summer. European shares were down 0.2 percent at 1,242.49, edging further back from five-year highs and following a retreat in Asian stocks and Thursday's late fall on Wall Street, but still on track for a weekly gain. "The stock market is driven by liquidity and sooner or later this must end," KBC senior economist Koen De Leus said. ... Read More » Coal India earnings may beat estimates - StarMine Reuters Market Eye - Coal India Ltd may beat Jan-March earnings consensus forecast when it reports results on Monday, according to Thomson Reuters StarMine data. StarMine's SmartEstimates, which place greater emphasis on forecasts by top-rated analysts, expects Coal India to report a profit of 52.91 billion rupees for the quarter compared with a wider consensus mean estimate of 49.97 billion rupees. Shares in Coal India were roughly flat at 2:09 p.m. Read More » European shares fall as Fed officials talk of QE exit By David Brett LONDON (Reuters) - The dollar held firm near a 10-month high versus a basket of currencies on Friday and European shares fell after a regional Federal Reserve chief said the U.S. central bank may begin to taper its asset buying this summer. European shares were down 0.2 percent at 1,242.49, edging further back from five-year highs and following a retreat in Asian stocks and Thursday's late fall on Wall Street, but still on track for a weekly gain. "The stock market is driven by liquidity and sooner or later this must end," KBC senior economist Koen De Leus said. ... Read More » Singapore Airlines shares fall on Q4 earnings, tough outlook SINGAPORE, May 17 (Reuters) - Shares of Singapore AirlinesLtd (SIA) fell as much as 3 percent after Asia'ssecond-largest carrier reported weaker-than-expected full-yearresults and warned of a tough outlook amid competition from Gulfcarriers and low-cost regional rivals. SIA shares fell as low as S$11.11 on Friday, the weakestlevel since May 7. SIA said on Thursday net income rose nearly 13 percent toS$379 million ($304 million) for the year to March 31, below anaverage forecast of S$409.6 million, according to ThomsonReuters StarMine SmartEstimates. The fourth-quarter profit of S$68. ... Read More » Penney CEO says company needs time to climb out of 'abyss' By Phil Wahba (Reuters) - J.C. Penney Co Inc Chief Executive Myron Ullman told Wall Street on Thursday that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer. Penney reported another steep quarterly loss on weak sales and heavy clearance deals, but Ullman said the company has taken steps in recent weeks to reassure vendors, shore up its finances, and win back shoppers that defected after a move last year away from coupons. ... Read More » China's State Grid to buy 19.9 pct stake in SP AusNet SINGAPORE, May 17 (Reuters) - Singapore Power International(SPI) has agreed to sell a 19.9 percent stakein Australia's SP AusNet to China's State Grid InternationalDevelopment Ltd for A$824 million ($812 million), SPAusnet said in a stock market filing on Friday. SP AusNet, listed in Australia and Singapore, owns andoperates electricity and gas distribution assets in Victoriastate, including the state-wide electricity transmissionnetwork. SPI will continue to hold a 31.1 percent stake in SP AusNetand SP AusNet will remain publicly listed, the statement said. For details, click on: ($1 = 1. ... Read More »