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Latest in Stock Market


Fiat-Chrysler makes a killing from Ferrari IPO

After the US-Italian car giant brought a 10-percent stake of the legendary racing car brand to Wall Street last week, it has now announced gross proceeds of close to a billion dollars from the share issue. After closing the book on the Ferrari initial public offering (IPO) on Monday, Fiat-Chrysler Automobiles (FCA) said the sale …

Deutsche Welle

Morgan Stanley earnings take a hit

US investment banking heavyweight Morgan Stanley has seen its third-quarter profits dropping steeply. The lender attributed the fall largely to poor bond trading operations, with major rivals not doing any better. New York-based investment bank Morgan Stanley on Monday reported a 42-percent drop in third-quarter net profit. The lender, which is also a major wealth …

Deutsche Welle

German shares outperform on Metro, Deutsche Bank

German shares were the top performers Monday morning, lifted by a positive outlook for retail giant Metro and promises by Deutsche Bank to overhaul its investment banking unit. Chinese GDP data made for a slight hiccup. Germany’s blue-chip DAX index was up 0.7 percent by mid-morning at 10,174 points, beating pan-European shares listed on the …

Deutsche Welle

US Fed rate decision keeps markets volatile

Asian shares have rallied on relief that the US Fed held off on raising interest rates. But renewed concerns about the health of the global economy have caused equities’ trading to remain choppy across the world. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent to a four-week high on Friday, with financials …

Deutsche Welle

US stocks volatile after Fed keeps rate steady

US stock markets swung between big gains and losses after the Fed kept interest rates near zero. Investors struggled to decide how to interpret the decision and what it means for the health of the US economy. Wall Street gave up a rally of more than 1 percent on Thursday, after the Federal Reserve decided …

Deutsche Welle

Opinion: One fried stock, please!

While Chinese investors can’t seem to satiate their hunger for domestic shares, the Germans are avoiding them like the plague. But there are plenty of exceptions, according to our columnist Zhang Danhong. When Klaus was first handed the certificate that made him an official VW shareholder, he was only 8 years old. His parents wanted …

Deutsche Welle

US, European stocks plummet after China rout

Panic selling gripped US and European stock markets on Monday after Chinese shares sank deeper, posting their largest intra-day fall since 2007 on worries that the Asian powerhouse was in for a hard landing. US stocks tumbled in opening trade on Monday, with the Dow plummeting more than 1,000 points or 6 percent within minutes …

Deutsche Welle

World stock markets post worst week of 2015

World stock markets have tumbled on concerns over a slowdown in China. The week ended with reports of more manufacturing gloom in China and investors moving to the safety of bonds and gold. In the US the Standard and Poor’s 500 index saw its biggest daily percentage drop in nearly four years on fears of …

Deutsche Welle

Walmart drags down US markets

The world’s largest retailer was the biggest drag on the Dow Tuesday after it disappointed investors with weak second-quarter results. The company has been struggling to compete with online merchants and dollar stores. Shares in US retail giant Walmart fell by more than 3 percent Tuesday as its quarterly results fell short of expectations, hit …

Deutsche Welle

Egyptian Resorts Co achieves $ 21.4m net profits in H1 of 2015

The Egyptian Resorts Co achieved a profit in the first half (H1) of 2015, reporting net profits of EGP 167.5m ($21.4m) compared to EGP 21.3m ($2.7m) in losses in H1 of 2014. However, over the first quarter (Q1) of 2015, the company’s net profits reached EGP 3.2m, marking a 73.4% decline compared to the same …

Rana Yehia

Allianz profits on track, but stock sags

Europe’s biggest insurer has confirmed its full-year earnings forecast as a result of low damage claims and gains from asset sales. But investors were unimpressed, pegging the stock lower. German insurer Allianz announced Friday it would post operating profit at the top of its target range this year, with earnings predicted to reach 10.8 billion …

Deutsche Welle

China cracks down on automated trading

As stocks in China continue slipping, the Asian country’s securities watchdog has started looking into the impact of computerized trading on the share market. It hopes to stop the current volatility of stock prices. In its latest bid to restore calm to the domestic stock markets, Chinese authorities confirmed Friday that they’d started investigating automated …

Deutsche Welle

Twitter surprises investors with strong earnings

Despite the problems facing the social media giant, Twitter has posted an unexpected jump in quarterly revenue. The company is still struggling to attract more users and is looking for a permanent CEO. San Francisco-based Twitter Inc. posted a revenue of $502 million (454.7 million euros) in the second quarter, an increase of 61 percent …

Deutsche Welle

Beijing springs to action as China shares gyrate

Asian markets were mostly down on Tuesday as Shanghai saw another day of wild volatility a day after the heaviest one-day losses in more than eight years. China's government pledged to lend further support. China's benchmark Shanghai stock index closed down 1.7 percent on Tuesday, slashing losses from earlier in the day but still defying government efforts to improve sentiment…

Deutsche Welle

Egypt index falls after deadly car bombing, Dubai hits resistance

By Olzhas Auyezov – Reuters Egyptian stocks have been on the rise since the ouster of former president Mohamed Morsi in July, driven largely by local retail investors who support the new army-backed government – but are wary of any escalation of violence. “Yesterday was a dramatic day and the country has entered a period …

Daily News Egypt