Financial News

Asian stocks staged a modest rebound Friday as strong machinery-orders data helped restore direction to flailing Tokyo and an airline takeover deal propelled Hong Kong's index. Japan's Nikkei 225 stock average closed up 0.8% to 14,750.84. On Thursday, it digested its biggest one-day percentage drop in a year, plunging 3%. The Topix index of Tokyo-listed shares rose 1.1% on Friday to 1,498.68.  ...

By Peter MarshPublished: June 9 2006 22:01 | Last updated: June 9 2006 22:01Arcelor on Friday night night faced the threat of possible legal action by Severstal if it chooses to bow to shareholder pressure and institute a new process to decide on a controversial merger with the Russian group and create the world's biggest steel producer. Severstal said on Friday it would be "very surprised" if th ...

European shares rallied off 2006 lows to close higher on Friday, with investors bidding up technology and mining stocks on hopes this week's selling had gone too far. The German DAX Xetra 30 indexfinished up 1.7% at 5,464, the French CAC 40 indexended 1.8% higher at 4,768 and the U.K. FTSE 100 indexclosed up 1.7% at 5, 655. European technology stocks got a lift after Texas Instruments Inc. ( ...

European shares rallied off 2006 lows Friday, taking their lead from a late rebound in the U.S. markets, with technology and mining stocks among the biggest risers. The German DAX Xetra 30 indexadded 1.2% to stand at 5,449, the French CAC 40 indexalso climbed 1.2% at 4,742 and the U.K. FTSE 100 indexrose 1.3% at 5,635. The pan-European Dow Jones Stoxx 600gained 1.3% at 309.70, after finishin ...

U.K. shares staged a comeback Friday, with mining stocks again the biggest movers, this time on the upside. Xstrata, BHP Billiton, Rio Tintoand Anglo American (AAUK) were all among the main index's biggest gainers. Miners have been some of the most volatile stocks in the recent market slide, and were among the biggest fallers on Thursday. Analysts at Merrill Lynch said the recent pullback in m ...

LONDON/PARIS (Reuters) - Media buying firm Aegis Group made a last-ditch appeal to shareholders on Friday to reject a demand from its biggest investor, French financier Vincent Bollore, for two seats on the board. Bollore also pressed his case with Aegis Chairman Lord Sharman in a letter dated June 9, warning that denying him board representation would be "contrary to the fundamental principles o ...

LONDON/PARIS (Reuters) - Media buying firm Aegis Group (AGS.L: Quote, Profile, Research) made a last-ditch appeal to shareholders on Friday to reject a demand from its biggest investor, French financier Vincent Bollore, for two seats on the board. Bollore also pressed his case with Aegis Chairman Lord Sharman in a letter dated June 9, warning that denying him board representation would be "contr ...

ZURICH (Reuters) - Euronext board member Olivier Lefebvre said on Friday that more merger talks were planned with Borsa Italiana, but that it was too early to predict their outcome. "We have started talks in good spirits," Lefebvre told reporters on the sidelines of a financial markets conference. "More talks are planned," he added, declining to elaborate further. Euronext and Borsa Italiana ar ...

A morning rebound by Asian markets failed to gain traction Friday, as a weak showing by exporters helped Japanese stocks erase early gains inspired by a turnaround on Wall Street, and benchmarks in Korea and Australia pared back their winnings. The Nikkei was down as much as 1.30% to 14,455.93. On Thursday it suffered its biggest one-day percentage drop in a year, plunging 3.07%. The Topix i ...

WASHINGTON (Reuters) - Nasdaq Stock Market CEO Robert Greifeld said on Thursday that the U.S. exchange group intends to adhere closely to UK takeover rules in handling its stake in London Stock Exchange. The LSE (LSE.L: Quote, Profile, Research) rebuffed a buyout bid from Nasdaq in late March. Under UK rules, Nasdaq may not bid again until late September. Meanwhile, Nasdaq has raised its LSE sta ...