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Wall Street ends mixed, energy shares fall

Trader Fred DeMarco works on the floor of the New York Stock ExchangeThe S&P energy index fell 1.3 percent as the prospect of slowing demand for oil in China and Europe and concerns about an oversupply of oil brought Brent crude oil futures to their lowest price since May 31, 2013. Peabody Energy Corp was the biggest loser among the S&P energy names, falling 3.7 percent to $15.29. The strengthening dollar, which rose to its highest this year against the yen, was also seen as weighing on oil prices. We're just seeing energy pulling back a bit after a very big market rally and taking a bit of time to digest those gains," said Adam Sarhan, chief executive of Sarhan Capital in New York.


US stock market ends slightly lower

FILE - In this Sept. 30, 2008 file photo, a Wall St. sign hangs in front of the New York Stock Exchange. U.S. stocks wavered in morning trading Tuesday, Sept. 2, 2014, as investors looked ahead to major economic reports out this week. (AP Photo/Mark Lennihan, File)NEW YORK (AP) ? Concerns over weaker global growth appeared to overshadow strong reports about the U.S. economy Tuesday, nudging the stock market to a tiny loss.


Novartis and Exelixis are big market movers

Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Novartis AG, up $3.43 to $93.47 The drug developer presented positive data for ...

US stock market closes mostly lower

U.S. stocks are ending mostly lower as energy companies fall and investors look ahead to central bank meetings later this week.

Credit Suisse says is investigating allegations of trader misconduct

National flags of Switzerland fly over the entrance of the headquarters of Swiss bank Credit Suisse in ZurichLONDON (Reuters) - Credit Suisse said it was investigating allegations of trader misconduct reported in the Wall Street Journal earlier on Tuesday. "With regard to the story published in today's Wall Street Journal, we cannot comment on employee matters under investigation," Credit Suisse said in a statement. "However, any allegations of this nature are taken very seriously at Credit Suisse." (Reporting by Clare Hutchison; editing by Keiron Henderson)


Wall Street little changed after strong August, data

Traders work on the floor of the New York Stock ExchangeFinancial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index rose to 57.9 in August from 55.8 in July, marking its highest level since April 2010. A separate report from the Institute for Supply Management on the manufacturing sector rose to 59.0, its highest level since March 2011, from 57.1 the month before.


South Africa stocks advance as Bidvest jumps

South African stocks ticked higher on Monday, as Bidvest Holdings advanced after the industrial conglomerate said it could list its food unit in London, a potential windfall for investors. "We're quite fully valued across the board," said Abri du Plessis, a portfolio manager at Gryphon Asset Management in Cape Town. Bidvest, a conglomerate that spans shipping to office furniture, said it is considering a London stock market listing for its food business. The company has long acknowledged the need to separate that unit from the rest of the group, saying its true value has not been reflected fully reflected in Bidvest's share price.

South Africa's Bidvest considers London listing for food busines

By Tiisetso Motsoeneng JOHANNESBURG (Reuters) - South African conglomerate Bidvest is considering a London stock market listing for its food business to help to fund future growth, the company said after announcing an 11 percent rise in annual profit. Bidvest's diverse operations from auto showrooms to shipping and office furniture make it South Africa's second-biggest company by sales, but it has long acknowledged the need to separate its food business from the rest of the group because its true value was not fully reflected in its share price. "Markets are particularly buoyant, money is cheap and there's quite a lot of demand for this particular asset," Bidvest Chief Executive Brian Joffe told reporters in a conference call. Bidvest, which in 2011 rejected buyout bids for the business on the grounds that they would not have benefited shareholders, said on Monday that a separate listing would unlock value because it is becoming increasingly difficult to fund growth with a South African balance sheet.
 
 
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