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Equity Market News 19th May 2012

Equity Org Headlines:

Essar Energy adds 3 percent in mostly lower London energy sector

Antofagasta leads miners higher in London

Hunting plc leads energy sector lower

Sports Direct International leads London retailers higher

Pace plc drops 40 percent on profits warning

Royal Bank of Scotland leads London banks lower

Royal Bank of Scotland leads banks, FTSE 100 higher in London

Lloyds Banking Group drops 8 percent on first-quarter loss

Lloyds shares down on PPI claims

Aquarius Platinum adds 7 percent amid mostly lower mining sector

03/08/05

Permalink 12:49:57 pm, Categories: New York NYSE, Sectors, Travel, Leisure, News and Media, 198 words  

NYSE markets mixed

The stock markets in New York ended the day mixed as crude oil prices rode a roller coaster, more quarterly results rolled in, and one company shook everything up.

The Dow Jones Industrial average gained 0.1 percent to 10,697.59 and the S&P 500 also was up 0.1 percent to 1,245.03, but the Nasdaq composite lost 0.1 percent to 2,216.81.

The shake-up came as German company Adidas agreed to purchase Reebok, which sent shares in Reebok up by 30 percent to $57.14. When joined the two companies will form the world’s second-largest sporting goods company, smaller than only Nike. Nike gained 1.3 percent to $86.92 on the news.

The airline sector did not do nearly as well, with the Amex airline index falling 1.5 percent to close at 50.83. Delta Airlines fell 8.3 percent to $2.32, its lowest share value in 43 years, as investors worried that the carrier was getting closer to bankruptcy. Northwest Airlines declined nearly 8.6 percent to $4.37 on the news that union representatives had walked out on contract negotiations. Skywest lost 1.3 percent to $20.82.

Time Warner lost 0.9 percent to $17.27 on a quarterly report that showed its quarterly earnings falling on a $321 million loss that came in the wake of a $2.5 billion settlement in a securities fraud case filed by shareholders.

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