While you were sleeping.. Global equity markets edged higher on Monday as Wall Street rose on Internet and healthcare stocks, while declining yields on government debt also initially provided US equities a lift. Pfizers failed bid for AstraZeneca weighed on European shares earlier in the session, with the British drugmaker the biggest drag on the FTSE 100 in London and the pan-regional FTSEurofirst 300 index. But Pfizer rebounded on the failed bid. At one point, it was the second-largest contributor to gains in the S&P 500 index, after Apple. Pfizer rose 0.5 percent at $29.28 a share, while AstraZeneca closed down 11.1 per cent in London. High-growth momentum stocks were among the strongest of the day in Wall Street, with TripAdvisor Inc up 5.2 per cent and Netflix Inc up 4.2 per cent. Vertex Pharma gained 3.4 percent. Over in Europe, the Dax rose 0.3 per cent, the CaC was up 0.3 per cent, while the FTSE100 was flat, up 0.05 per cent. Yet another announcement from Russian President Vladimir Putin that troops along the border with Ukraine have been pulled back didn’t seem to affect the markets much, perhaps due to the fact this is becoming too regular an occurrence.
Posted on: Mon, 19 May 2014 23:07:06 +0000
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