View the article online at http://citywire.co.uk/wealth-manager/article/a728696
Overnight Markets: US stocks fall on bank earnings
by Himanshu Singh on Jan 17, 2014 at 03:59
The stock of Best Buy Co Inc (BBY.N) plunged 28.6% after it reported a drop in holiday sales and forecast a bigger-than-expected decline in quarterly operating margins.
In the deal news, Apollo Global Management LLC (APO.N) said it would buy CEC Entertainment Inc (CEC.N), the parent of the Chuck E Cheese restaurant chain, for about $948 million. CEC Entertainment's stock jumped 13.1%, while Apollo Global's shares rose 0.8%.
In Asia, shares declined on Friday in early trading amid downbeat results on Wall Street.MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.2%, while Australian shares skidded 0.4% and Japan's Nikkei index dropped 0.8%. Hong Kong’s Hang Seng Index was up 0.06%, while China’s Shanghai Composite Index was trading 0.78% lower. South Korea’s KOSPI Index was down 0.64%.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop
More about this:
On the road
by Dylan Lobo on Jul 28, 2014 at 08:03