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#Stock Market

# stock-market - Friday 28 February, 2020

Covid-19: Stock markets plummet in worst week since 2008 financial crash

China has now recorded almost 80,000 cases of Covid-19.

# stock-market - Tuesday 7 August, 2018

Elon Musk sends Tesla stock price soaring with a tweet On The Up This post contains videos

Elon Musk sends Tesla stock price soaring with a tweet

The controversial CEO says he’s considering taking the company private.

# stock-market - Friday 9 February, 2018

'Full panic mode': Asian markets take fresh beating as global slump continues

Tokyo, Hong Kong and Shanghai were the biggest hit.

# stock-market - Thursday 8 February, 2018

Wall Street, we have a correction: The Dow Jones is plummeting again

The market has fallen 10% since its all-time high two weeks ago.

# stock-market - Tuesday 29 August, 2017

Alleged Champions League bus bomber could face 28 counts of attempted murder

German prosecutors are preparing charges against the man named only as “Sergej W.”.

# stock-market - Friday 23 June, 2017

The government confirms it sold around 28.75% of AIB for €3.4 billion

Paschal Donohoe did not rule out returning to Cabinet to receive backing to sell further stakes in AIB if the opportunity arises.

# stock-market - Friday 3 February, 2017

Snapchat seeking $3 billion as it plans to sell shares on stock market

The fast-growing social network boasts 158 million daily users.

# stock-market - Thursday 22 December, 2016

Irish company raises half a million euro to go exploring for diamonds

Karelian Diamond is hoping to develop its first commercial diamond mine in Finland.

# stock-market - Monday 12 December, 2016

Market value of US military contractor drops by €1.8bn after Trump tweet

The President-elect said he will cut “billions” in costs for military purchases.

# stock-market - Monday 4 January, 2016

The Chinese stock market is in deep, deep trouble, and it's bad news for everyone

Chinese manufacturing has slowed to a crawl in recent times with instability in the Middle East further weighing on the nation’s stock market.

# stock-market - Monday 24 August, 2015

Tim Cook says Apple is fine despite China's market problems

Its stock fell by more than 20% amid fears that China’s slowdown could hurt Apple’s growth there.

# stock-market - Wednesday 8 July, 2015

China could be slipping into a crisis 'far bigger than anything in Greece'

More than half of companies have suspended trading on the stock market.

# stock-market - Thursday 7 August, 2014

Eircom is planning a Jersey debt swap

The telco, which is considering a stock market floatation, could move its assets and liabilities to the island.

# stock-market - Thursday 24 July, 2014

Facebook is raking it in as earnings soar to $2.9 billion

More users, more mobile apps, more ads = lots more money.

# stock-market - Thursday 26 June, 2014

So GoPro's first day on the stock market got off to the best possible start

The company raised $427 million after it sold 17.8 million shares in its first day of trading.

# stock-market - Tuesday 10 June, 2014

The 9 at 9: Tuesday

Good morning! Here are the nine stories you need to know as you kick off your day.

# stock-market - Wednesday 26 March, 2014

This is how much the company behind Candy Crush Saga is worth after going public

The company raised just under $500 million in an IPO which saw shares priced at $22.50 each.

# stock-market - Friday 8 November, 2013

Back down to earth: Twitter shares fall after its sizzling Wall Street debut

“A bit like an IPO hangover” is how one analyst described it.

# stock-market - Thursday 24 October, 2013

Twitter hikes IPO amount to $1.61 billion

The company said it would sell 70 million shares in a price range between $17 and $20 a share.

# stock-market - Tuesday 5 February, 2013

European stocks steady after dive amid Spain, Italy fears

Yesterday European stock markets slumped with banking shares suffering some of the heaviest losses.

# stock-market - Thursday 27 December, 2012

European stocks rise after festive break

Europe’s main stock markets rise as traders focus on whether the United States will avert the 2013 “fiscal cliff”.

# stock-market - Friday 7 December, 2012

Netflix faces US penalty for CEO Facebook comments

Hastings posted a comments that said customers were spending around a billion hours per month watching Netflix

# stock-market - Wednesday 26 September, 2012

Shares fall amid protests against austerity in Athens and Madrid

Protests on the streets of Spain and Greece have spooked the markets.

# stock-market - Tuesday 21 August, 2012

Apple takes Microsoft's record as most valuable company ever*

The technology giant is now worth $623 billion – more than Microsoft was worth in 1999. Ish.

# stock-market - Friday 17 August, 2012

Facebook shares hit an all-time low

The social networking giant’s stock traded as low as $20 before bouncing back slightly yesterday.

# stock-market - Monday 11 June, 2012

Good while it lasted: US stocks sink after Spain inspired rally fizzles

Spain’s tough fiscal challenges and the upcoming elections in Greece have added to concerns about the eurozone.

# stock-market - Wednesday 30 May, 2012

The Daily Fix: Wednesday Daily Fix This post contains videos

The Daily Fix: Wednesday

Your essential evening round-up of the day’s biggest news…

# stock-market - Tuesday 15 May, 2012

Facebook hikes price of its shares, raising value to over $100bn

Facebook had previously planned on selling shares at between $28-$35, but is now going for a price between $34 and $38.

# stock-market - Monday 14 May, 2012

Facebook co-founder renounces US citizenship days ahead of flotation

The move will result in Eduardo Saverin avoiding taxes of about $600 million when he collects his share of the site’s stock offering.

# stock-market - Monday 7 May, 2012

Want to own a piece of Facebook? Here's how to do it

Sometime this month, 337 million shares will be up for grabs when the world’s biggest social network floats on the stock market. But be warned: it may be hard to get a hold of them.

# stock-market - Thursday 2 February, 2012

10 things we've learned from Facebook's IPO Facebook Facts This post contains images

10 things we've learned from Facebook's IPO

Why did Mark Zuckerberg spend $800,000 on planes last year?

# stock-market - Saturday 13 August, 2011

From The Daily Edge The week in photos Week In Photos This post contains images

The week in photos

This is the week that was, in pictures

# stock-market - Tuesday 26 July, 2011

The 11 biggest companies on the Irish stock exchange Big Deals This post contains images

The 11 biggest companies on the Irish stock exchange

Some names you’ll probably know, and some you mightn’t – but, in terms of sheer value, here are the big boys.

# stock-market - Monday 16 May, 2011

Euro hits six-week low against dollar following Strauss-Kahn arrest

The single currency fell briefly before trading up by mid-morning on the London Stock Exchange.

# stock-market - Friday 11 March, 2011

Stock and oil prices react to Japan's earthquake and tsunami disasters

Stocks rose but oil prices fell in response to the terrible events in the Pacific.

# stock-market - Wednesday 25 August, 2010

PRIVATE INVESTORS have been selling shares in Facebook for $76 each, according to reports today – which would value the company at an astonishing €26.6bn, before the company even considers floating itself on a stock exchange.

The Financial Times today reports that shares in the company, being traded privately because the social networking site has not been floated, were fetching remarkable per-share prices on so-called ‘secondary markets’.

There is a slight premium to such shares, however, because of the fact that private limited companies are limited by law to having a maximum of 500 shareholders.

Even still, if the company was to be floated with shares valued at $76 (€59.88), the company would instantly be worth a remarkable $33.7bn – or about €26.6bn.

By comparison, Yahoo! is worth about $18bn on today’s values, while Microsoft and Google – businesses with far more wide-reaching and diverse – are worth $208bn and $143bn each. Apple is worth $219bn.

Google, when floated, had a value of $1.67bn.

Facebook’s $33.7bn valuation would make its founder Mark Zuckerberg (26) between $6.7bn and $10.11bn, depending on how much of the business he retains ownership of, with varying reports saying he owns 20% to 30% of Facebook.

Facebook said two weeks ago it was likely to postpone its Initial Public Offering – entering a public stock exchange – until early 2012. Some of its senior employees are remunerated in shares, however, and are welcome to sell them on private secondary markets.

# stock-market - Thursday 19 August, 2010

PROCESSOR MANUFACTURER INTEL has agreed a massive €6bn cash deal to buy the security and anti-virus firm McAfee.

The deal will see Intel pay $48 (€37.40) per share for the security company, compared to the $29.93 closing price for McAfee shares on the NASDAQ yesterday evening.

Unsurprisingly, McAfee shares have taken an extraordinary spike this morning and were trading at $47.16 – an increase of 57.6% – at the time of writing.

It shares had been worth similar amounts as recently as the end of April, when the company revised its Q2 earnings significantly downward, but recovered some of its value when its ultimate Q2 earnings were higher than its downward forecasts.

Intel said that the deal would reduce its own net earnings in the first year after takeover, but that the takeover would significantly augment its own security services. Its own shares are down slightly today as a result.

It added that the takeover reflected how security was now a concern at the very core of computing, joining energy efficiency and connectivity as the ‘third pillar’ of computing requirement.

The processing giant – which employs over 4,000 people at its campus in Leixlip – said in its earnings reports for 2009 that it had almost $4bn in the bank and another $5.2bn in short-term investments – meaning it will probably have to seek a reasonable amount of financing to help fund the deal.

# stock-market - Wednesday 4 August, 2010

SHARES IN ALLIED IRISH BANKS have fallen by 6% this morning after the bank announced record losses for the first six months of the year. From a close last night of 99c, prices had earlier fallen as low as 86c – a fall of 13% – but rebounded since and currently trade at 93c, down 6%.

IRELAND’S BIGGEST BANK, AIB, has posted one of the biggest losses in its history, with losses of €1.7 billion post-tax losses for the first six months of the year.

The AIB Group’s interim results, released this morning, show an operating profit of €976m before provisions for bad debt were taken into account, but the bank lost €963m in the loans transferred to NAMA – and set aside a massive €2.315 billion to cover loans it doesn’t expect to get back.

The bank’s losses before tax exceeded €2bn – compared to €872m in the same period last year.

The bank confirmed that the Financial Regulator required it to generate €7.4bn in equity capital by the end of December – raising fears that more public funds could be required to keep the bank afloat.

Unsurprisingly as a result, the bank will not be paying a dividend on its shares for the moment.

The bank’s UK arms posted a loss of £55m, but its Polish subsidiary, Bank Zachodni, made a profit of €142m before its bad debt provisions, indicating that the sale of the Polish operation might be top of the agenda in its attempts to restructure.

Publishing its report, the bank described the “six months to 30 June 2010 was a very difficult period for AIB and our customers”, and admitted that a “significant level of credit losses was experiencedin the period in addition to the loss on transfer of the first tranche of loans to the National Asset Management Agency.”

The bank also said that market conditions “remained challenging” and that the banking environment made it difficult to generate income. In the short term it hoped to complete the transfer of loans to NAMA and to restructure under the guidance of the European Commission.

The bank’s executive director, Colm Doherty, told RTÉ’s Morning Ireland that the bank was in discussions to offload some of its foreign operations but said the talks remained confidential.

He conceded, however, that the bank’s restructuring will probably result in job losses.

# stock-market - Monday 26 July, 2010

SHARES IN the two Irish banks have risen significantly this morning as investors react positively to the results of the EU stress tests.

Both of the Irish banks involved – AIB and Bank of Ireland – have seen their prices spike as traders get their first chance to respond to the tests, which were released late on Friday after markets had already closed.

Despite only having been credited with “scraping through” the tests, AIB shares took the bigger jump initially, rising to 96c in early trading – a jump of nearly 7% from their close on Friday – before settling at 93c, still recording a rise of about 3.3%.

Bank of Ireland, which passed the tests with a healthier verdict, has seen its shares rise 3c to 77c, a jump of almost 4%.

AIB shares are still only a quarter of the value they were last October, however, with Bank of Ireland about a fifth of their price from late September.

Financial stocks around the world have recorded more modest gains, with an average rise of about 0.8% in early trading.

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