Stock Exchange News Page 2

As reported by the BBC, shares in clothing company Gap went up 7% after reporting strong sales for February. Abnormally warm weather has persuaded American shoppers and the company said its spring items have been selling very well. With sales growing 12%, the firm’s Banana Republic chain also had a particularly strong month. After a...

As reported by the BBC, Apple's stock market value finished above $500 billion for the first time, solidifying its position as the globe’s most valuable company. Only six American firms have ever reached a value of over $500 billion. In 2007, oil giant Exxon was worth this much, while Microsoft was temporarily worth $600 billion in...

As reported by the BBC, India's Essar Energy shares have dropped by over 10% following the company’s reports of a post-tax loss for 2011. The firm saw a loss of $568 million for the calendar year, in comparison to its 2010 profit of $248 million. The company said 2011 had seen many challenges, with weaker refining margins and a lower...

As reported by the BBC, European stock markets ended favourably before a conference of eurozone finance ministers which is expected to settle a new rescue plan for Greece. Cash-strapped Athens must decide on the 130 billion euro (£110bn; $170bn) bailout package before mid-March to dodge a default on its debts. Britain’s FTSE 100 went up...

As reported by the BBC, Billabong shares have gone up by over 60% as the firm announced a restructuring scheme after TPG Capital offered a takeover bid from. Billabong’s shares surged as much as A$2.93 (up from A$1.79) at the Australia Securities Exchange. The firm will sell off a stake of its Nixon brand, shut down unprofitable stores...

As reported by the BBC, for the first time ever, shares in technology firm Apple have exceeded $500 per stake. This marks an astonishing turnaround for the company, whose shares were in 1997 worth as low as $3.19, when it confronted the possibility of bankruptcy. The firm is now worth $460 billion. The firm’s revival by Steve Jobs, who...

Australia’s largest investment bank Macquarie Group has said it anticipates that full year profits will fall by 25 per cent because a weak market is affecting its business, reports the BBC. Its investment and trading banking operations were the most severely hit, said the company in a statement. The bank’s shares dropped five per cent...

Shares of Australian mining firm Lynas have risen after it received a licence from Malaysian authorities to run a rare earth refinery in the SE Asian country. Lynas shares ended 19% stronger at A$1.590 at the Australian Securities Exchange. After being completed, the plant is to be one of the largest supply sources of rare earth elements...

Facebook, the largest social networking site in the world, has announced its stock market flotation plans. Facebook said that it aimed to raise $5bn (£3.16bn), roughly half the amount a number of analysts had predicted. However, the initial public offering (IPO) is still likely to be the largest sale of shares by an online company,...

Hong Kong shares broke a winning streak of six sessions yesterday, dragged down by banks and developers for China, as investors made profits on recent outperformers at the same time all eyes remain on Greece debt-swap deal talks. As reported by Reuters, soft mainland markets that are back in trading after the week-long holiday for Chinese...