Shares News

PARIS (Reuters) - Steel magnate Lakshmi Mittal vowed to press ahead with his bid to acquire Arcelor, despite plans by the Luxembourg-based group to merge with Russia's Severstal, saying his offer made more sense for shareholders. Arcelor (CELR.PA: Quote, Profile, Research) said on Friday it had agreed to buy Russia's Severstal (CHMF.MM: Quote, Profile, Research) to create the world's biggest st ...

BOULDER, Colo. (Dow Jones) -- The art of market speculation is to trade for the sole purpose of taking profits while managing risk. Many people feel an opinion is required about a certain stock or even the broad market before a bias can be taken, but that philosophy is related to the investor not the speculator. Every day, floor traders and screen based market participants alike, trade and s ...

By Friedel Rother LONDON (Reuters) - Leading shares cruised to their biggest weekly gain in over six months on Friday, ending a volatile week on an upbeat note as rallying banks, miners and oil stocks combined with moderate U.S. inflation data to put the market firmly in positive territory. Miners, the driving force behind the benchmark FTSE index's recent swings, were among the biggest gainers. Kazakhmys ended up nearly 6 percent, followed by gains of over 4 percent each for Anglo American ,  ...

By Julien Ponthus LUXEMBOURG (Reuters) - Arcelor has agreed to buy Russia's Severstal to create the world's biggest steelmaker, in a 13 billion-euro (8.9 billion pounds) deal that would thwart Mittal Steel's hostile bid for the Luxembourg-based group. Arcelor, now the second-largest steelmaker behind Mittal in volume, said on Friday that the enlarged group would be the industry's most profitable, with 40 percent of its core earnings in the lucrative Brazilian and Russian markets. Arcelor Chie ...

The London market ended a volatile week on a very positive note with the FTSE 100 clawing back a further chunk of its recent losses and registering its first back-to-back gain in three weeks. // A strong overnight performance from Wall Street on Thursday which continued in morning trading on Friday after the release of data that showed the US inflation remained in check, was the main driver behin ...

European equities enjoyed a strong end-of-week rally, which helped restore some sense of stability after this year’s gains were wiped out by a concerted flight from risk earlier in the week. // After hitting a near five year high of 1,407.52 on May 11, the FTSE Eurofirst 300 index closed Monday’s session at 1,271.45 - more than 9 per cent off its peak, and in negative territory for the year. The ...

NEW YORK (Dow Jones) -- Shares of General Motors Corp. extended their recent rally Friday following a brokerage upgrade and a report that as many as 30,000 workers at the automaker and its main parts supplier, Delphi Corp., have accepted buyouts. The stock (GM) rose more than 3.5% in early trading, putting the Dow Jones Industrial Average component's shares up roughly 13% for the week and 35% y ...

NEW YORK (Dow Jones) -- Mueller Water Products Inc.'s $400 million initial public offering rose Friday as the manufacturer of fire hydrants and other equipment capped off a big week in the IPO market with MasterCard and Vonage. Mueller Water Products (MWA) opened at $16.50, above its $16 price. The stock changed hands at $16.20 on volume of 4.6 million on the New York Stock Exchange. The Tampa ...

Wall Street opened higher on Friday as investors warmed to new economic data. General Motors kept on climbing, while investors were eying brokerages and investment banks, following analyst upgrades. // In morning trading, the S&P 500 was up 0.3 per cent or 3.47 points at 1,276.35, while the Nasdaq Composite also gained 0.3 per cent, up 6.87 points at 2,205.11. The Dow Jones Industrial Averag ...

By Julien Ponthus LUXEMBOURG (Reuters) - Arcelor has agreed to buy Russia's Severstal to create the world's biggest steelmaker in a 13 billion-euro (8.9 billion pounds) deal that would block Mittal Steel's hostile bid for the European group. Arcelor said on Friday that the Severstal deal, announced just a week after Mittal improved its offer, would involve the issue of new Arcelor shares at a price of 44 euros each, 20 percent above Mittal's current hostile offer. Arcelor Chief Executive Guy  ...