HONG KONG/LONDON—A share rally that has lifted stocks to record levels in recent days lost momentum on Friday, weighed down by renewed uncertainty over China’s property sector and as markets paused for breath ahead of U.S. jobs data due later in the day. The U.S. dollar gained against sterling, which took a beating after the…
Global Share Rally Pauses as China Property Weighs, US Data Loom
November 5, 2021
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‘Cash Machine’ BP Boosts Share Buyback as Profit Surges
LONDON—BP added more than a billion dollars to its share buyback programme on Tuesday as it likened itself to a “cash machine” benefiting from higher oil and gas prices and a strong trading performance in the third quarter. Natural gas and power prices around the world surged this autumn as tight gas supplies collided with…
NYSE Like a Drugged Bull in Bullfight Over Share Orders, Exchange President Says
October 8, 2021
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NEW YORK—The head of the New York Stock Exchange on Thursday called for regulators to change rules that make it difficult for the NYSE to compete for stock orders, as the market share of exchanges has dwindled versus off-exchange trading platforms during the retail trading boom. “On exchange, we are artificially constrained from competing for…
China Evergrande Shares Slide 6 Percent in Early Trade
September 24, 2021
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HONG KONG—Shares of cash-strapped China Evergrande fell as much as 6 percent in early trade on Friday, paring gains of nearly 18 percent the previous day as time ticked by on an interest payment deadline for the country’s most indebted developer.
Shares Gain as Evergrande Says It Will Make Interest Payment
September 22, 2021
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World shares and U.S. futures advanced Wednesday after Chinese developer Evergrande said it intends to make an interest payment on its debt that is due Thursday. Shares rose in Paris, Frankfurt and Shanghai but fell in Tokyo. Markets have been rattled by Evergrande’s struggle to meet debt payments and uncertainty over what if anything the…
Investors Tune in as Universal Leaps on Market Debut
Universal Music Group’s shares leapt more than a third in their stock market debut on Tuesday as investors bet a boom in music streaming still has a long way to run. The world’s biggest music label, which represents musicians and song catalogs from Billie Eilish to The Rolling Stones and Bob Dylan, saw its market…
National Express in Talks for All-Share Takeover of Stagecoach
LONDON—British transport company National Express is in talks to acquire rival operator Stagecoach Group in an all-share deal, offering scope for cost savings and underpinning their recovery from COVID-19. The tie-up, which would value Stagecoach at about 445 million pounds ($609 million), comes as government support to help the companies get through the pandemic is…
Lagardere Share Price Jumps 20 Percent After Vivendi Increases Stake
PARIS—Shares in France’s Lagardere surged 20 percent on Thursday after media group Vivendi said it would buy another stake in the company, paving the way for a full takeover. Canal+ owner Vivendi, which already owns 27 percent of Lagardere, said it had agreed to buy Amber Capital’s 17.9 percent holding for 24.10 euros per share,…
Microsoft Shares Edge Higher on $60 Billion Buyback Program
September 15, 2021
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Microsoft Corp. shares rose 1 percent in early trading on Wednesday after the company announced a $60 billion share repurchase plan, its biggest ever. The announcement comes just days after two U.S. Senate Democrats unveiled a proposal to tax corporate stock buybacks to help fund President Joe Biden’s $3.5 trillion investment plan. The senators said…
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