Bloomberg Business -Credit Suisse plunge: Shares in Credit Suisse Group AG dropped to their lowest level since 1991 after the bank posted a loss of 5.8 billion Swiss francs ($5.8 billion) as it wrote off goodwill and set aside provisions for litigation. Chief Executive Officer Tidjane Thiam has said the global markets and investment banking....
Bloomberg Business -Stocks tumble: Stocks in Europe have tumbled to their lowest since 2014 this morning with the Stoxx 600 down 2.2 percent at 10:55 a.m. London time, heading for its sixth day of declines. The MSCI Emerging Markets Index fell 0.5 percent overnight in Asia amid light trading as the Chinese Lunar Holiday begins,....
Bloomberg Business -Deutsche Bank surges: Deutsche Bank AG shares jumped as much as 15 percent this morning and were trading 13.5 percent higher at 11:05 a.m. London time, leading a surge in European bank shares that sees every bank on the Euro Stoxx Bank Index trading higher. Deutsche Bank is considering a bond buyback to....
Bloomberg Business -Markets recover: The Stoxx Europe 600 Index rose 1.7 percent at 10:50 a.m. in London as bank shares rebounded, led by Commerzbank AG which was trading 16.6 percent higher at 10:55 a.m. London time. Deutsche Bank, which has been at the center of the market storm, is up over 9 percent. Oil rebounded....
Bloomberg Business -Stocks rally again: European stocks are higher this morning, with the Stoxx Europe 600 Index 1.8 percent higher at 10:46 a.m. London time. French bank Credit Agricole SA jumped more than 12 percent after it announced it would sell stakes in French regional banks to shore up capital and pay a cash dividend.....
Bloomberg Business -Oil falls: Oil is trading lower after U.S. crude inventories rose to their highest level since at least 1930 with a barrel of West Texas Intermediate 65 cents lower at $30.12 at 10:55 a.m. London time. Oil industry leaders are gathering in Houston, Texas next week for the IHS CREAWeek conference – often....
Bloomberg Business -China FX reserves stabilize: China’s foreign-exchange reserves fell at a slower pace last month as the nation’s financial markets stabilized and policy makers took more steps toward shoring up growth. The world’s largest currency hoard dropped by $28.6 billion to $3.2 trillion in February, the smallest decline since June, and less than the....
Bloomberg Business -S&P 500 bull market turns seven: The bull market in the S&P 500 celebrates its seventh anniversary today, making it the third longest bull market in the history of the index, and possibly also the least loved. With the index gaining just 0.5 percent over the past 18 months, this may be the....
Bloomberg Business -European markets surge: The Stoxx Europe 600 index climbed 2.4 percent by 10.45 a.m. London time, with the gains led by euro area banks which saw a rally of over 6 percent in the Euro Stoxx Banks (price) Index of over 6 percent. Italy’s FTSE-MIB gained 4.1 percent, while Germany’s Dax was 2.7....
Bloomberg Business -Stocks : The Standard & Poor’s 500 Index declined 0.6 percent at 10:26 a.m. in New York, after U.S. equities closed little changed on Monday. Data showed U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, while a separate report showed manufacturing activity in the state of....
Bloomberg Business -Currencies: South Africa’s rand and Brazil’s real were among the biggest gainers in emerging-market currencies, jumping at least 1.9 percent. Currencies from other commodity-producing nations also strengthened. Australia’s dollar advanced 0.9 percent after the nation’s jobless rate unexpectedly declined, while New Zealand’s currency strengthened 1.5 percent after fourth-quarter economic growth beat projections. “In....
Bloomberg Business -Stocks: The Standard & Poor’s 500 Index declined 0.1 percent at 10:40 a.m. in New York, as the gauge fell from its highest level of the year. Transportation stocks posted the biggest decline out of 24 groups, with Delta Air Lines Inc. and American Airlines Group Inc. losing more than 1.8 percent. The....
Bloomberg Business -Stocks: The S&P 500 rose 0.1 percent at 10:43 a.m in New York, poised for a gain of 1.1 percent in the first quarter. The index is coasting to the end of the three-month period defined by two distinct halves, with a blistering comeback in the last six weeks erasing losses from the....
Bloomberg Business -Pfizer/Allergan merger terminated: Pfizer Inc. has decided to end its $160 billion merger with Allergan Plc, according to a person familiar with the matter. The cancellation comes after the Treasury Department unveiled new rules to combat tax inversions. The cancellation of the deal, which was to be the the largest ever in the....
Bloomberg Business -Stocks: Energy producers and banks led the rebound in the Stoxx Europe 600 Index, up 1.3 percent, the most this month on a closing basis, at 8:41 a.m. in New York. BP Plc and Royal Dutch Shell Plc rose more than 2.5 percent. Banca Popolare dell’Emilia Romagna SC, Banca Monte dei Paschi di....