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BUSINESS
May 5, 1998 | From Washington Post
Investors worldwide ignored the shaky start to Europe's new single currency and poured their money into European markets Monday. It was a surprising conclusion to a tumultuous weekend meeting in which the leaders of Europe chose 11 countries to participate in the new money, called the euro, but also waffled over selecting the head of the new European Central Bank. Because France and Germany were backing rival candidates, the 15 nations of the European Union essentially split the difference.
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BUSINESS
March 28, 2001 | Bloomberg News
The Nasdaq Stock Market said Tuesday it will spend $63 million to acquire control of Easdaq, a small European securities bourse that specializes in initial public offerings, as part of the U.S. market's plan to provide 24-hour global trading. Nasdaq, the second-largest U.S. stock market, earlier had sought a foothold in Europe by trying to form a joint venture with two of Europe's three largest markets, the London Stock Exchange and Deutsche Boerse.
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BUSINESS
December 24, 1999 | From Bloomberg News
German stocks surged Thursday as the government said it plans to drop a tax on asset sales by companies, paving the way for major companies to sell stakes in industries worth about $100 billion and change the corporate landscape in Europe's biggest economy. Allianz and other major stocks soared and the DAX index posted its biggest gain since March 12--when Oskar Lafontaine quit as finance minister--on optimism that companies will make better use of cash tied up in long-term holdings.
BUSINESS
May 11, 2000 | Bloomberg News
Bank of America Corp., the largest U.S. bank, said it's considering acquisitions and hiring investment bankers from rival firms to bolster its securities business in Europe. The Charlotte, N.C.-based bank has no plans to buy a "big investment bank" and would rather recruit bankers from other firms, said Kenneth Lewis, Bank of America's president and chief operating officer. The bank would consider buying a smaller firm to fill a particular niche, he said.
BUSINESS
May 11, 2000 | Bloomberg News
Bank of America Corp., the largest U.S. bank, said it's considering acquisitions and hiring investment bankers from rival firms to bolster its securities business in Europe. The Charlotte, N.C.-based bank has no plans to buy a "big investment bank" and would rather recruit bankers from other firms, said Kenneth Lewis, Bank of America's president and chief operating officer. The bank would consider buying a smaller firm to fill a particular niche, he said.
BUSINESS
July 24, 1997 | From a Times Staff Writer
As hot as the U.S. stock market is, it's a piker compared with European stocks. Most major European markets soared anew on Wednesday, drawing strength from expectations for continued moderate U.S. interest rates, and from the stronger dollar. The German market's key index zoomed 175.67 points, or 4.2%, to a record 4,406.09, in the biggest rally this year. In France, the key index jumped 2.8%, while Dutch shares leaped 2.9% and Italian shares were up 1.8%.
BUSINESS
November 28, 1997 | Bloomberg News
European stocks rose, led by Germany, as a rebound in Japanese shares eased fears of a meltdown in Asian markets and a strengthening U.S. dollar helped boost shares of exporters. Japanese stocks gained for a second day, led by banks and brokerages, amid optimism the government will apply strong measures to bail out the country's faltering financial industry. Tokyo's benchmark Nikkei-225 index rose 3.5% to 16,603.20 points.
BUSINESS
November 25, 1991 | TOM PETRUNO
Many foreign stock markets have shown surprisingly small reactions to Wall Street's recent turbulence--a good reminder of the benefits of international investment diversification. While the Dow Jones industrial average has fallen 5.2% since Nov. 14, including the 120-point plunge on Nov. 15, the Hong Kong stock market has actually risen 0.8% in that period, as measured by the blue chip Hang Seng index. How a few other key markets fared: * German stocks have barely budged.
BUSINESS
August 17, 1988 | From Reuters
Pressure is growing in Western Europe for companies and stockbrokers to tell the public more about the stocks they try to sell. Governments have enacted or are debating new rules, and stockbrokers and market analysts told Reuters that they expect a move toward harmonizing widely varying standards now prevailing in Europe. In Britain, a tough new market-regulating law requiring disclosure of information materially affecting a company's prospects for investors took effect in April.
BUSINESS
August 4, 1993 | TOM PETRUNO
Most European stock markets have rallied briskly over the past week, as the Continent's latest currency crisis opened the door to much-needed interest rate cuts. Despite the markets' gains, many international stock mutual fund managers say they're still eager to boost their ownership of European shares, anticipating an economic recovery.
BUSINESS
May 4, 2000 | Reuters, Bloomberg News
Officials said Wednesday that Nasdaq's role in the soon-to-be-merged Anglo-German bourse propels its European ambitions and moves it closer toward its ultimate goal of erecting a global market. Founded in 1971, Nasdaq has grown from a place to trade stocks over the counter to an electronic market that now is the chief rival of the 208-year-old New York Stock Exchange.
BUSINESS
January 26, 2000 | Bloomberg News
U.S. and European stocks could drop 15% to 20% in the next several months, and the decline is likely to drag Asian markets lower as well, strategists at Morgan Stanley Dean Witter & Co. warned Tuesday. The firm raised the cash weighting in its "Macro Navigator" model portfolios and reduced its exposure to U.S., European and Asian stocks, according to a report by investment strategist Robert J. Pelosky.
BUSINESS
December 24, 1999 | From Bloomberg News
German stocks surged Thursday as the government said it plans to drop a tax on asset sales by companies, paving the way for major companies to sell stakes in industries worth about $100 billion and change the corporate landscape in Europe's biggest economy. Allianz and other major stocks soared and the DAX index posted its biggest gain since March 12--when Oskar Lafontaine quit as finance minister--on optimism that companies will make better use of cash tied up in long-term holdings.
BUSINESS
January 1, 1999 | MARJORIE MILLER, TIMES STAFF WRITER
They are calling it the financial community's Desert Storm. Camp beds and food rations have been brought into bank command centers. Special subway trains and shuttle buses are running. Emergency crews are on standby. To be sure, for many of these tens of thousands of euro soldiers, it's hotel rooms and gourmet catering.
BUSINESS
August 11, 1998 | THOMAS S. MULLIGAN
Investors looking for a haven in European stocks may have been startled to see the markets there dip even more sharply recently than those in the United States. After drops of more than 1% on Monday in markets throughout Europe--even worse in Germany and France--the major European stock indexes are down slightly more from their mid-July peaks than are the Standard & Poor's 500-stock index and the Dow Jones industrial average.
BUSINESS
July 8, 1998 | From Times Wire Services
The London Stock Exchange joined its biggest rival, Frankfurt's Deutsche Boerse, in a surprise alliance Tuesday, laying what both sides hope is the foundation for a single European stock market. Negotiated in secrecy over the last two months, the strategic pact unites the Continent's two largest exchanges in a project to make it cheaper and easier to trade major European stocks.
BUSINESS
September 21, 1992 | TOM PETRUNO
France's slim OK of European unity is no big confidence builder for the Europeans, and neither will it do wonders for U.S. investors, many of whom probably are beginning to view foreign investments with great suspicion. Indeed, last week's mass confusion in European currency markets just made a bad situation worse for Americans who've taken a plunge into foreign stocks and bonds in recent years. First the long Japanese bear market; now a financial disaster in staid old Europe.
BUSINESS
January 1, 1999 | MARJORIE MILLER, TIMES STAFF WRITER
They are calling it the financial community's Desert Storm. Camp beds and food rations have been brought into bank command centers. Special subway trains and shuttle buses are running. Emergency crews are on standby. To be sure, for many of these tens of thousands of euro soldiers, it's hotel rooms and gourmet catering.
BUSINESS
June 30, 1998 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Europe's equity markets, red-hot in the first quarter, turned mixed in the second quarter as high stock valuations and jitters over interest rates and Asia triggered some profit-taking. Still, for the first half of 1998 overall, European markets have utterly dominated global performance charts--reflecting widespread optimism about coming monetary union. While the U.S. Standard & Poor's 500 index is up 17.
BUSINESS
June 22, 1998 | Reuters
Nasdaq and Germany's Deutsche Borse are planning a pan-European electronic stock market to take on London as Europe's major financial center, the Sunday Business newspaper said. The British capital is already under pressure from European exchanges, which have recently won futures market contracts that once routinely were traded in Britain.
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