S&P and Dow See Further Gains, Balfour Beatty Rejects Further Carillion Offer
August 20, 2014 7:22 am
Yesterday’s US session saw the S&P 500 move nearer to its record close of 1987.98, with the index rising by around 0.5% to close at 1982, continuing to feel the rejuvenating effects of a strong earnings season. The Dow was also up by 0.5% at 16,920, approaching the 17,000 mark again.
Balfour Beatty has rejected an upgraded merger offer from rival construction firm Carillion. Attention will be focussed closely on the continuing cut and thrust of the attempted merger, particularly as Carillion is running out of time; unless the UK Takeover Panel agrees to its request for a time extension, if the firm fails to reach a deal with Balfour Beatty by 17:00 BST tomorrow it will be forced to wait six months before coming back with another offer.
After June’s 7-for-1 stock split, Apple stock hit a new record (split adjusted) closing high of $100.53 yesterday, with investors looking forward to the new Apple products likely to make their way onto the market in the months ahead. This is a far cry from early last year, when the share price was almost half that, at $55. On split-adjusted terms, Apple’s highest ever stock price was $100.72 in mid-2012.
In last night’s Asian session, the Hang Seng continued its rise above the 25,000 level, closing up 0.1% at 25,155.48. The Shanghai Composite was down by 0.23% and the Nikkei closed broadly flat, up by just 0.03%. This morning the DAX is currently down by 0.41% and the CAC 40 down by 0.18%. The FTSE is currently down by 0.30%, with the Bank of England monetary policy committee voting 7:2 to leave the interest rate unchanged rather than raising it. Minutes from the FOMC meeting will be released later today.
Yesterday’s US session saw the S&P 500 move nearer to its record close of 1987.98, with the index rising by around 0.5% to close at 1982, continuing to feel the rejuvenating effects of a strong earnings season. The Dow was also up by 0.5% at 16,920, approaching the 17,000 mark again.
Balfour Beatty has rejected an upgraded merger offer from rival construction firm Carillion. Attention will be focussed closely on the continuing cut and thrust of the attempted merger, particularly as Carillion is running out of time; unless the UK Takeover Panel agrees to its request for a time extension, if the firm fails to reach a deal with Balfour Beatty by 17:00 BST tomorrow it will be forced to wait six months before coming back with another offer.
After June’s 7-for-1 stock split, Apple stock hit a new record (split adjusted) closing high of $100.53 yesterday, with investors looking forward to the new Apple products likely to make their way onto the market in the months ahead. This is a far cry from early last year, when the share price was almost half that, at $55. On split-adjusted terms, Apple’s highest ever stock price was $100.72 in mid-2012.
In last night’s Asian session, the Hang Seng continued its rise above the 25,000 level, closing up 0.1% at 25,155.48. The Shanghai Composite was down by 0.23% and the Nikkei closed broadly flat, up by just 0.03%. This morning the DAX is currently down by 0.41% and the CAC 40 down by 0.18%. The FTSE is currently down by 0.30%, with the Bank of England monetary policy committee voting 7:2 to leave the interest rate unchanged rather than raising it. Minutes from the FOMC meeting will be released later today. 
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