Futures are perking up this morning and are setting stocks up for a firmer opening. Traders are turning their attention to earnings and some percolating merger news, and there's a calm on Wall Street after Friday's late day, mad dash down-hill ride for stocks.
Dutch bank ABN Amro withdrew its recommendation of a takeover by Barclays, leaving it neutral between the British bank's offer and a higher bid from Royal Bank of Scotland's consortium.
Spain's Santander Central Hispano bank on Thursday reported a 54 percent rise in second-quarter net profit on strong lending activity in Europe and Latin America and with an extra boost from an asset sale.
British bank Barclays has raise its offer for ABN Amro Holding to $93.1 billion with help from two Asian partners, an attempt to remain competitive with a rival bid from a group led by Royal Bank of Scotland.
As Barclays increased its bid for Dutch bank ABN Amro, Barclays President Bob Diamond stressed the strategic importance of its new partnerships, the newly introduced cash element of the deal and pinned the British bank's hopes of clinching the deal on the rising value of its shares.
Mergers and acquisitions and a generous portion of quarterly earnings along with OPEC news is turning the stock market picture back to the plus side after Friday's selloff, though looming in the background are credit market concerns.
British bank Barclays has raised its bid for Dutch group ABN Amro 67.5 billion euros ($93 billion), helped by some of the biggest ever overseas investments by China and Singapore.
A banking consortium led by Royal Bank of Scotland said it cleared all regulatory hurdles and would launch its $97.8 billion bid for Dutch bank ABN AMRO on Monday as planned.
Emerging markets specialist Standard Chartered is in takeover talks with South Africa's fourth-biggest bank, Nedbank Group, financial daily Business Day reported on Thursday.
British bank Barclays said on Thursday it might change its agreed offer for ABN Amro and possibly include some cash, as it battles a higher bid from a consortium of three major European banks.
ABN Amro said on Wednesday it would hold discussions with Barclays on a new bid proposal unveiled this week by the consortium that is seeking to dislodge Barclays as ABN's preferred merger partner.
Barclays is planning to sweeten its offer for ABN Amro after a consortium of rivals led by Royal Bank of Scotland revised its bid for the Dutch bank, the Financial Times said on Tuesday.
Dutch bank ABN Amro can proceed with its sale of U.S. unit LaSalle, the Dutch Supreme Court said, boosting the prospect that Barclays will succeed in its near $90 billion takeover bid for ABN.
NYSE Euronext has joined Dutch and British financial authorities in examining trading patterns in ABN Amro's shares and American depository receipts in the period before the multibillion euro (dollar) bidding war over ABN became public, the bank said Tuesday.
The Dutch Supreme Court will issue its ruling on ABN Amro''s suspended sale of U.S. subsidiary LaSalle on Friday, July 13, at 10 am Amsterdam time, the court said on Tuesday.
European stocks are expected to have positive momentum next week as large-cap companies continue to perform on the back of strong global revenue streams.
Progress made by Britain's Barclays in its offer for ABN Amro demonstrates its ability to offer the Dutch bank's shareholders "certainty and deliverability," Chief Executive John Varley said on Wednesday.
Barclays, which is competing with Royal Bank of Scotland to buy ABN Amro Holding in the largest takeover fight in the financial industry's history, said Monday it received approval from Dutch regulators to delay its proposed takeover.
A group led by Irish financier Derek Quinlan has bought the 42-storey tower in London's Canary Wharf financial district owned by Royal Bank of Scotland and used by Citigroup as its European headquarters, Quinlan said on Monday.
British bank Barclays's hopes of taking over Dutch rival ABN Amro won a boost on Tuesday when a court adviser said ABN could sell its U.S. arm without a shareholder vote.