Financial News

SYDNEY (XFN-ASIA) - Share prices closed higher as investor sentiment was buoyed by the overnight rise in US equity markets with the Dow Jones index hitting another record high, dealers said. They said dovish overnight comments from Federal Reserve chairman Ben Bernanke eased interest rate concerns which in turn boosted local banking stocks here and aided bargain hunting in mining stocks. The S&a ...

SYDNEY (XFN-ASIA) - Share prices closed higher as investor sentiment was buoyed by the overnight rise in US equity markets with the Dow Jones index hitting another record high, dealers said. They said dovish overnight comments from Federal Reserve chairman Ben Bernanke eased interest rate concerns which in turn boosted local banking stocks here and aided bargain hunting in mining stocks. The S&a ...

SYDNEY (XFN-ASIA) - Coal seam gas producer Queensland Gas Company Ltd said it has advised shareholders to take no action over Santos Ltd's 606 mln aud takeover offer for the firm. QGC said it will evaluate Santos' 1.26 aud a share offer and advise shareholders on it as soon as practicable. QGC noted that over the past two years the firm has built an extremely important strategic position in t ...

SYDNEY (XFN-ASIA) - Share prices are expected to open higher as the threat of higher interest rates both in Australia and the US ease, dealers said. They said a positive start to the session is expected after the Dow Jones Industrial Average closed at a record high for the second straight day overnight as investors shrugged off lackluster economic news and grew more optimistic that the Federal Re ...

BOSTON (Dow Jones) -- ImClone Systems Inc. shares jumped over 8% Wednesday after the biotech company revealed in documents released as part of its on-going squabble with dissident investor Carl Icahn that it had received an attractive takeover bid from an undisclosed pharmaceutical company. In a regulatory filing, ImClone (IMCL) said that it had been approached in July by a "major international ...

(Updates with full report) FRANKFURT (AFX) - Shares closed just short of intraday highs, boosted by continued lower oil prices and positive morning trade on Wall street, as Infineon led advancers aided by a broker recommendation and Volkswagen gains continued after it purchased a 15 pct stake in MAN, dealers said. At closing, the DAX 30 index was 54.15 points or 0.90 pct higher at 6,046.37, havi ...

A rally in shares of Vodafone Group, climbing bank stocks, and seven-month lows for oil compensated Wednesday for another profit warning and a share price tumble at Airbus owner EADS, lifting broader European markets. The U.K. FTSE 100 indexclosed up 0.5% at 5,966, paced by a rally in Vodafone ( VOD) after a well-received investor presentation, and share strength from banks including Bradford & ...

Volkswagen is to acquire a 15% share in German truckmaker MAN as it eyes a three-way alliance in the industry. The sum paid and terms of the deal have not been revealed, but Volkswagen said it had no plans to buy MAN outright. Last month, MAN tried to buy Swedish truckmaker Scania - in which VW has an 18.7% stake - but its bid was rejected. Volkswagen has indicated that it would consider integrating its own Brazilian truck business into a three-way partnership with MAN and Scania. Consolida ...

FRANKFURT (AFX) - German shares were higher in midafternoon trading, led by Infineon and supported by lower oil prices. At 2.45 pm, the DAX 30 index was 15.50 points or 0.26 pct higher at 6,007.72, having moved between 5,995.41 and 6,031.21 today. The MDAX was at 8,509.73, up 9.79 points or 0.12 pct, while the TecDAX was at 653.73, up 1.15 points or 0.18 pct. The DAX futures contract was at 6,0 ...

LONDON (Dow Jones) -- Volkswagen said Wednesday that it has bought a stake in truck maker Man, sending Man shares down more than 7% as hopes that it won't have to raise its offer price for Swedish truck maker Scania faded. The German car makersaid that it's purchased an interest totaling 15.06% in Manbut doesn't intend to launch a full takeover of the company. Man shares declined 7.2%, while ...