Mark Barton News
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Most German stocks declined, after the longest winning streak for the benchmark DAX Index since July 2005, as investors weighed the pace of central bank monetary stimulus.
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Investors should avoid inflation- linked government bonds in the U.K. and the U.S. as they’re “over-hyped” and “over-owned,” according to Alan Higgins, chief investment officer at Coutts & Co. in London.
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German stocks advanced, with the DAX Index rising to its third successive record high, as markets opened during a national holiday and volumes fell.
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Spanish government bonds fell, pushing 10-year yields to the highest level this month, as demand dropped when the nation sold a combined 4.57 billion euros ($5.99 billion) of securities at an auction.
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U.K. stocks rose, with the FTSE 100 Index reaching its highest level in more than five years, as commodity producers advanced and Britain’s equity markets reopened following a public holiday.
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Royal Bank of Scotland Group Plc executives said the government may start reducing its 81 percent stake as soon as next year even as the bank posted a bigger- than-estimated decline in first-quarter operating profit.
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European stocks rose, pushing the Stoxx Europe 600 Index toward its longest streak of monthly gains since 1997, as Italy formed a new government and as U.S. consumer spending unexpectedly increased in March.
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The yen and dollar slid against currencies of commodity-exporting nations including New Zealand and South Africa as investors sought higher-yielding assets and gold and U.S. stocks gained.
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Nick D’Aloisio became a millionaire at 17 after selling Yahoo! Inc. on a mobile-phone application he devised two years ago at his home in London.
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The European Union will unveil tougher rules for banks that safeguard investment funds’ assets as part of a push to prevent a fraud similar to the Ponzi scheme orchestrated by Bernard Madoff.
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