Tag: stock market

European stock markets dropped on Wednesday as oil prices headed lower after Kuwaiti oil workers ended a three-day strike. The Stoxx Europe 600 index dropped 0.5% to 347.68, falling back from a three-month closing high hit on Tuesday. Sentiment was soured by amore than 2% drop in both WTI crude oil and Brent , which weighed on Europe’s energy majors. Shares of BP PLC fell 1.2%, while TGS-NOPEC Geophysical Company ASA dropped 2.7%. On a more upbeat note in Europe, ARM Holdings PLC put on 2.6% after the chip designer said profit rose 7.6% in the first quarter. Heineken NV gained 0.8% after the brewer reported a rise in beer volumes for the first quarter, thanks to strong sales in Vietnam and China.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

European stock markets dropped on Wednesday as oil prices headed lower after Kuwaiti oil workers ended a three-day strike. The Stoxx Europe 600 index dropped 0.5% to 347.68, falling back from a three-month closing high hit on Tuesday. Sentiment was soured by amore than 2% drop in both WTI crude oil and Brent , which weighed on Europe’s energy majors. Shares of BP PLC fell 1.2%, while TGS-NOPEC Geophysical Company ASA dropped 2.7%. On a more upbeat note in Europe, ARM Holdings PLC put on 2.6% after the chip designer said profit rose 7.6% in the first quarter. Heineken NV gained 0.8% after the brewer reported a rise in beer volumes for the first quarter, thanks to strong sales in Vietnam and China.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Shares in Mitsubishi Motors Corp. fell 15% on Wednesday in Tokyo after it emerged that the Japanese automaker’s cars didn’t pass a fuel economy test and misconduct was a possibility. “One of our models was found to have failed part of a fuel economy test,” a Mitsubishi Motors spokesman said, according to a Reuters report. A Mitsubishi executive was slated to address issues of misconduct related to such testing at a news conference, the report added. Investors are sensitive to news about testing snafus following Volkswagen AG’s emissions scandal that erupted last year. Japanese news outlet NHK said about 600,000 vehicles could be affected, including cars that Mitsubishi makes for rival Nissan Motor Co.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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U.K. stocks dropped for the first time in three days on Wednesday, with a renewed selloff in oil prices driving a downbeat trading mood. The FTSE 100 index slid 0.5% to 6,376.91, easing back from the highest closing level since Dec. 2 reached on Tuesday. Oil prices were a key driver for the trading action in London on Wednesday, hitting sentiment as WTI and Brent slumped more than 2.5%. Shares of BP PLC shaved off 0.9% and Royal Dutch Shell PLC lost 0.8%. Miners, on the other hand, were among biggest gainers on Wednesday after industry giant BHP Billiton PLC cut its iron-ore production target for the year. On Tuesday, peer mining major Rio Tinto PLC also downgraded its expectations for iron-ore production after reporting a sharp fall in shipments in the first quarter. Less supply in the market is seen as a bullish signal for metals prices and could help the sector shake off years of oversupply and low prices. Shares of BHP climbed 1.6%, while Rio Tinto gained 2.4%. ARM Holdings PLC put on 3.7% after the chip designer said profit rose 7.6% in the first quarter. At 9:30 a.m. London time, or 4:30 a.m. Eastern Time, attention turns to unemployment and wage data for the U.K.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.K. stocks dropped for the first time in three days on Wednesday, with a renewed selloff in oil prices driving a downbeat trading mood. The FTSE 100 index slid 0.5% to 6,376.91, easing back from the highest closing level since Dec. 2 reached on Tuesday. Oil prices were a key driver for the trading action in London on Wednesday, hitting sentiment as WTI and Brent slumped more than 2.5%. Shares of BP PLC shaved off 0.9% and Royal Dutch Shell PLC lost 0.8%. Miners, on the other hand, were among biggest gainers on Wednesday after industry giant BHP Billiton PLC cut its iron-ore production target for the year. On Tuesday, peer mining major Rio Tinto PLC also downgraded its expectations for iron-ore production after reporting a sharp fall in shipments in the first quarter. Less supply in the market is seen as a bullish signal for metals prices and could help the sector shake off years of oversupply and low prices. Shares of BHP climbed 1.6%, while Rio Tinto gained 2.4%. ARM Holdings PLC put on 3.7% after the chip designer said profit rose 7.6% in the first quarter. At 9:30 a.m. London time, or 4:30 a.m. Eastern Time, attention turns to unemployment and wage data for the U.K.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Lexmark International Inc. shares rallied in the extended session Tuesday after the printer and software company agreed to be acquired by Apex Technology Co. and PAG Asia Capital for $3.6 billion in cash. Lexmark shares jumped 13% to $39 after hours. Under the agreement, Apex and PAG will acquire Lexmark for $40.50 a share in cash. The companies expect the deal to close by the second half of 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Global Payments Inc. shares ticked higher in the extended session Tuesday after S&P Dow Jones Indices said the payments services company would join the S&P 500 Index. Global Payments shares advanced 1.6% to $77.80 after hours. The stock will replace GameStop Corp. on the index around April 22, S&P said. GameStop shares declined 1.4% to $32 after hours.

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MGM Growth Properties LLC on Tuesday priced its initial public offering at the high end of its expected range, according to media reports. The real-estate investment trust priced 50 million shares at $21 a piece for proceeds of $1.05 billion, according to Dow Jones and Bloomberg. MGM Growth Properties was expected to price within the $18 to $21 range, according to IPO Boutique. Market intelligence firm Ipreo had forecast MGM Properties to debut the largest IPO of the year with $975 million in proceeds.

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Shares of VMware Inc. gained in Tuesday’s extended session after the computer-server software company turned in better-than-expected earnings and announced a sizable stock buyback program. VMware reported its first-quarter earnings fell to $161 million, or 38 cents a share, from $196 million, or 45 cents a share, a year earlier. On an adjusted basis, VMware would have earned 86 cents a share. Revenue rose 5% to $1.59 billion. Analysts surveyed by FactSet had forecast the Silicon Valley company to earn 84 cents a share on revenue of $1.58 billion. The company also plans to buy back up to $1.2 billion in Class A common shares by the end of the year. Shares gained 3.5% in after-hours trading.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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The American Petroleum Institute late Tuesday reported that crude supplies rose by 3.1 million barrels for the week ended April 15, according to sources who reviewed the report. The closely watched Energy Information Administration report will be released Wednesday. Analysts polled by Platts forecast a climb of 1.6 million barrels for crude inventories. May crude was at $40.99 a barrel in electronic trading, down from the contract’s settlement of $41.08 on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News