Brent Crude Falls; Gold Rises, Phones 4 U goes into administration; Dixon Carphone Sees Gains
September 15, 2014 7:53 am
Disappointing Chinese Industrial Production figures released over the weekend have continued to hit oil prices, with Brent Crude reaching a low of $96.21 per barrel at one point earlier on the ICE Futures Europe exchange. Chinese Industrial Production and Retail Sales Figures failed to meet expectations, coming in at 6.9% and 11.9% respectively instead of the 8.8% and 12.1% expected. Gold, however, has rebounded from its low levels of last week, as the dollars’ continued strength has markets looking towards the Federal Reserves’ Policy Meeting this week, watching for indications regarding the raising of interest rates. The S&P 500 and Dow both closed down on Friday, the former by 0.6% the latter by 0.36%.
In company news, Phones 4U has gone into administration, with EE being the final mobile operator to pull the plug on the firm. The company’s 720 outlets have not opened today and the firm’s website is unavailable, with a message stating that they are offline ‘following the unexpected decision of EE and Vodafone to withdraw supply’. Competitor Dixons Carphone is currently benefiting from the upheaval, with DC.L currently trading up by over 2%.
In Europe, Heineken has rejected a takeover bid by SAB Miller, stating its desire to remain independent. Heineken stock is currently up by around 1,5%, while London-traded stock of SAB Miller seems to be coping well with the rejection, with stock currently up by almost 5.5% amidst ongoing speculation concerning SAB Miller itself as the possible subject of a takeover bid by larger competitor Anheuser Busch InBev.
In the US, Sprint Mobile has proved to be a big winner after Apple’s product launch last week, with its new iPhone for Life plan boosting the firm’s share price by over 20%, closing up on Friday by 6.54%. In other stocks news, Yahoo’s share price closed up by almost 4% on Friday, boosted by this week’s upcoming IPO from Alibaba, a company which Yahoo owns a sizeable percentage of. Yahoo stock is currently up by over 2.5% in pre-market trading.
Disappointing Chinese Industrial Production figures released over the weekend have continued to hit oil prices, with Brent Crude reaching a low of $96.21 per barrel at one point earlier on the ICE Futures Europe exchange. Chinese Industrial Production and Retail Sales Figures failed to meet expectations, coming in at 6.9% and 11.9% respectively instead of the 8.8% and 12.1% expected. Gold, however, has rebounded from its low levels of last week, as the dollars’ continued strength has markets looking towards the Federal Reserves’ Policy Meeting this week, watching for indications regarding the raising of interest rates. The S&P 500 and Dow both closed down on Friday, the former by 0.6% the latter by 0.36%.
In company news, Phones 4U has gone into administration, with EE being the final mobile operator to pull the plug on the firm. The company’s 720 outlets have not opened today and the firm’s website is unavailable, with a message stating that they are offline ‘following the unexpected decision of EE and Vodafone to withdraw supply’. Competitor Dixons Carphone is currently benefiting from the upheaval, with DC.L currently trading up by over 2%.
In Europe, Heineken has rejected a takeover bid by SAB Miller, stating its desire to remain independent. Heineken stock is currently up by around 1,5%, while London-traded stock of SAB Miller seems to be coping well with the rejection, with stock currently up by almost 5.5% amidst ongoing speculation concerning SAB Miller itself as the possible subject of a takeover bid by larger competitor Anheuser Busch InBev.
In the US, Sprint Mobile has proved to be a big winner after Apple’s product launch last week, with its new iPhone for Life plan boosting the firm’s share price by over 20%, closing up on Friday by 6.54%. In other stocks news, Yahoo’s share price closed up by almost 4% on Friday, boosted by this week’s upcoming IPO from Alibaba, a company which Yahoo owns a sizeable percentage of. Yahoo stock is currently up by over 2.5% in pre-market trading.
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