Apr 28, 2008
Wall Street ended Monday on an indecisive note
Wall Street ended Monday on an indecisive note, investors hesitant between the pessimistic prognosis of the investor Warren Buffett on the U.S. economy, and the good news of redemption stock market confectioner Wrigley by March, for the occasion associated with the same Warren Buffett.
The Dow Jones thirty core values closed down by 0.16% or 20.11 points to 12.871,75 and the index expanded Standard & Poor's 500 Index lost 0.11% (1.47 points) at 1.396,37.
In contrast, the Nasdaq composite market, a strong technology component, has managed to climb 0.06% (1.47 points) at 2.424,40.
The billionaire Warren Buffet has douché the optimism of investors by reiterating that the U.S. economy was in recession in his eyes, and especially adding that it would be more severe than most people anticipate.
"My general feeling is that the recession will be longer and deeper than most people think," he said on CBNC television channel. "It will be neither short nor superficial."
The prognosis came to stoke the fears of investors while looming on the horizon the first estimate of GDP growth in first quarter U.S., Wednesday, and the same day the prospect of a monetary relaxation of only 25 basis points to might augur the end of the cycle of declining rates by the Fed.
COUP FOR THE THUMB OF M & A FIRE IS LONG
No comment could be obtained in immediate with Buffett on his remarks on the economy, but they broke at the end of the meeting momentum on Wall Street by a resurgence of activity on mergers and acquisitions .
The place was so far supported by the announcement that the March confectionery group had joined with the same Warren Buffett to buy Wrigley, world's leading manufacturer of chewing gum, for $ 23 billion (14.7 billion ' euros), and thus form the world's number one confectionery.
The new Wrigley has been burning of 23.15% to 76.91 dollars, and resulted in its wake the competitor Hershley, which took 4.63% to 36.35 dollars. Speakers have also deduced that the share price had perhaps become interesting, and that the time purchases cheaply might have sounded.
Ford was awarded his side 9.47% to 8.21 dollars, another billionaire, Kirk Kerkorian, who announced through his company Tracinda's intention to launch a bid on some of the actions of the carmaker.
The airline U.S. Airways flew about it by 20.39% to 8.62 dollars, sources had indicated that it was in advanced discussions with United Airlines for a merger.
In technology, Microsoft has dropped 2.82% to 28.99 dollars, Yahoo had left past the deadline for its response to draft a possible unfriendly takeover of the giant software without visible new development. The two rival groups, Google took the opportunity to s'adjuger 1.48% to 552.12 dollars.
by erectusplus at 7:07 PM |
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