Wall Street's "Santa Claus" rally kept delivering gifts a day after Christmas. The Dow Jones industrial average, Standard& Poor's 500 index and the Russell 2000 index of small-company stocks closed at all-time highs on Friday. The consumer is in good shape, "said David Chalupnik, head of equities at Nuveen Asset Management.» Read More
*The private bank was founded in Geneva in 1805. ZURICH, Aug 26- Swiss private bank Pictet opened its books to public scrutiny for the first time on Tuesday, after being dragged into the spotlight by a change in its 209- year-old structure and a U.S. tax investigation.
SAN FRANCISCO/ NEW YORK, Aug 26- Investors are looking over portfolios to make room for Chinese e-commerce giant Alibaba Group Holdings Inc's market debut next month- and that means some less attractive stocks that funds are holding might be shown the door.
NEW YORK, Aug 25- The U.S. S&P 500 stock index broke through the landmark 2,000 level on Monday, marking a six-year rally which has benefited many Americans from Wall Street to Main Street. "I continue to think this bull market has several years to go," said Steven Einhorn, vice chairman of hedge fund Omega, which manages $10.5 billion.
BOSTON/ NEW YORK, Aug 22- Investors owning 31 percent of Allergan shares have asked the Botox maker to call a special shareholder meeting, activist shareholder William Ackman said on Friday, giving the hedge fund manager a victory in his fight to acquire the Botox maker.
TORONTO, Aug 22- Royal Bank of Canada on Friday reported a bigger-than-expected increase in quarterly earnings, driven by strong results from its wealth management and capital markets divisions. Shares in the bank hit a lifetime high of C $82.15 early on Friday before easing 1.2 percent to C $80.67 on a negative day on the Toronto Stock Exchange.
LONDON, Aug 22- The London Stock Exchange Group said on Friday it would raise 938 million pounds in its first rights issue to part fund the acquisition of U.S. indexes group Frank Russell.
Citigroup says it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the SEC, according to the WSJ.
TORONTO, Aug 22- Royal Bank of Canada reported a 4 percent increase in quarterly earnings on Friday, driven by strong results from its wealth management and capital markets divisions. Canada's largest bank reported net income of C $2.38 billion, or C $1.59 a share, for the third quarter ended July 31, compared with C $2.29 billion, or C $1.51 a share, a year earlier.
NEW YORK, Aug 21- Hedge funds negotiating with Puerto Rico's public power authority PREPA over a possible restructuring of more than $8 billion in bonds include two involved in Argentina's protracted bond negotiations, Knighthead Capital Management and Redwood Capital Management, according to the full bondholder agreement published on Thursday.
Aug 21- Citigroup Inc has been sending hedge fund firms letters informing them that it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the U.S. Securities and Exchange Commission, the Wall Street Journal reported.
DUBAI, Aug 21- Saudi Arabia's stock market regulator proposed rules on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 percent cap on foreign ownership of the market's value. The Saudi Capital Market Authority published the draft rules on its website on Thursday.
DUBAI, Aug 21- Saudi Arabia's stock market regulator proposed rules for opening the $580 billion market to direct investment by foreign institutions, including a rule capping foreign ownership at 10 percent of the market's value. The Capital Market Authority is expected to issue a final version of the rules after a three-month consultation period.
The company, controlled by hedge fund manager Eddie Lampert, said quarterly revenue fell 9.7 percent, reflecting the impact of the separation of its Lands' End clothing business, store closures and sales declines at Sears Canada Inc..
*Wall Street rebounds on Fed minutes, dollar rallies. NEW YORK, Aug 20- Global equity markets rose on Wednesday after minutes from the Federal Reserve indicated there is no rush to bring forward plans to raise interest rates in the future, reversing earlier declines that were driven by hints from the Bank of England of an early rate hike.
NEW YORK, Aug 20- The New York offices of Pimco, the massive asset manager run by Bill Gross, are being fumigated this week because of a bed bug infestation. "Our New York office is addressing an isolated issue with insects, and as a precautionary measure the firm is fumigating certain areas of the office space," a spokesman said on Wednesday.
WASHINGTON, Aug 20- The U.S. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank's July 29-30 meeting. "The committee as a whole has started to shift its stance," said Paul Dales, an economist at Capital Economics in London. "
NEW YORK, Aug 20- Pimco's New York office is addressing an "isolated issue with insects" and as a precautionary measure, the company is fumigating certain areas of the office space, a Pimco spokesman said in a statement on Wednesday.
LONDON, Aug 20- Commodity hedge fund Krom River is determined to stay the course in uncertain conditions despite a hefty sectoral slide, hoping for fresh inflows from investors fearing a retreat in equities.
Aug 18- Asset manager Eaton Vance Corp's quarterly profit narrowly beat analysts' estimates, as it investment advisory and administrative business fees increased 6 percent. Net income attributable to the company's shareholders rose to $77.9 million, or 63 cents per share, from $23.2 million, or 18 cents per share, a year earlier.
Aug 18- Asset manager Eaton Vance Corp's quarterly profit tripled, due to a big drop in the company's non-operating expenses. Net income attributable to the company's shareholders rose to $77.9 million, or 63 cents per share, in the third quarter ended July 31, from $23.2 million, or 18 cents per share, a year earlier.