NEW YORK: Alibaba bullish after record LISTING, DJIA + 0.1% – Dagens Industri

NEW YORK: Alibaba bullish after record LISTING, DJIA + 0.1% – Dagens Industri

NEW YORK: Alibaba bullish after record LISTING, DJIA +0.1%

                  2014-09-19 22:32
             

 STOCKHOLM (AFX), the leading American stock indices closed on Friday around near unchanged levels. A strong start in the wake of a Scottish no to independence slowed after leading indicators came in below expectations, while the Chinese Alibaba's record on the New York Stock Exchange ended in the spotlight
  The Dow Jones industrial average closed 0.1 percent higher on the index level 17,282, while the broad S & amp; P 500 was unchanged at 2.011. Technology-heavy Nasdaq Composite was down 0.3 percent to 4,580.
  The IPO of Alibaba and exercise of options pushed up sales, which amounted to approximately 1.4 billion shares on the New York Stock Exchange and approximately 2.8000000000 shares on Nasdaq.
  "While the headlines are all about Alibaba, then the underlying trade should be centered on the exercise date is for very many contracts," said Joe Kinahan, chief strategist at TD Ameritrade, told Bloomberg News.
  The Chinese e-commerce giant Alibaba IPO  was undoubtedly today's most high-profile event. The listing was the largest of its kind ever, and interest in the shares, which closed more than 38 percent above the market price $    68, was huge.
  Alibaba, which started in 1999 by founder Jack Ma, went to the closing of the course evaluation on both Amazon and Ebay - together. In addition, the company settled in as one of the ten most highly valued companies in the S & amp; P 500 index, according to Bloomberg News.
  Investors in Dresser-Rand Group also saw their shares increase in value. Shares rose 9.4 percent from anonymous sources stated to Bloomberg that the German company Siemens is preparing a 6.5-billion-dollarbud on the company, and thus defy Sulzer, who earlier this week said it was in talks with Dresser-Rand about a possible merger.
  Electric car manufacturer Tesla dropped 1.7 percent. Goldman Sachs said on Friday that the company may need at least $    6 billion to fund its planned battery plant in  Nevada, and that the company may need to raise capital through a rights issue.
  Oracle fell 4.2 percent, after it became known that the software company founder Larry Ellison leaves the position as CEO after 35 years, and instead will become chairman.
  The thin macro agenda gave no support to the market as the leading indicators for August rose by 0.2 percent; lower than the increase of 0.4 percent was expected, according to Bloomberg News analyst survey.
  After the US-closing exchanges announced the rating agency Fitch that it confirms the United States' AAA credit rating, and the outlook remains stable.
  In the bond market, the interest rate on ten-year U.S. treasuries 4 basis points to 2.58 percent. 

John Hultling +46 8 5191 7911
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