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Is it already October? It seems like it was just yesterday that we were sitting in the Gowanus Yacht Club sipping Duff’s and contemplating the plight of the quant funds, leveraged buyouts and wondering whether or not Citigroup’s Chuck Prince was headed the way of Bonnie Prince Charlie. Oh, right. That was yesterday. Seasons are changing but the song remains the same. And so does our favorite outdoor Brooklyn bar.
So. Markets. What happened today? Right. The Dow Jones Industrial Average set a new record, breaking through 14000, the S&P 500 hit record numbers and NASDAQ climbed closer to the dot com one point oh bubble levels. The Dow tape read 14087.55 at the close. On the New York Stock Exchange Monday, 2,476 stocks rose and 786 fell. Volume was relatively light, with 938.1 million shares traded on the exchange.
The factor most responsible for the climbing indexes was the aggregate buying and selling of equities measured and weighted by the indexes.
Our random index of the day is the Bombay Stock Exchanges Sensex. Here’s what the action looked like. A rise at the open slipped quickly into a decline. Late in the day things bounced back, bringing it to a record high. The rally didn’t last, however, and the index closed more or less flat for the day.
Takeover rumors swirled around Travel Zoo, while shares and options climbed though the roof and jumped into orbit. Representatives of Travelzoo and Priceline aren’t commenting, which is only fueling the feeding frenzy.
And in bank run news, the Bank of England has asked KPMG to be on standby to be the administrator of Northern Rock should it fail. Banking M&A types continue to run spreadsheets trying to figure out a rescue plans for the crippled bank.
The best part of waking up is FT Alphaville in your cup.
Posted by , Oct 01, 2007 5:24PM
BOE had KPMG on for Northern Rock, right? That detail appears to be missing in the last item. I mean, not that there are a ton of other bank runs at the moment.