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Apr 26, 2015

DealBook P.M Edition - April 24, 2015: Under Regulators' Scrutiny, Comcast and Time Warner Cable End Deal



FRIDAY, APRIL 24, 2015
TOP STORY
Under Regulators' Scrutiny, Comcast and Time Warner Cable End Deal The $45 billion merger plan had raised concerns in the Justice Department and the Federal Communications Commission.

Friday's April 24, 2015 Selected Markets Closing.

Friday's April 24, 2015  Selected Markets
Information


From MarketWatch European Markets at close Report by Karla Mozee
European stocks pared gains Friday, following a lackluster end to a meeting on Greece’s debt troubles, but equities still finished with a win for the week.
The Stoxx Europe 600 SXXP, +0.30%  rose 0.3% to 408.42, stepping back from stronger gains as consumer-services, technology and oil and gas SXEP, -0.65%  and health care shares turned lower.
AstraZeneca shares AZN, -1.67% fell 1.7% after the drug maker posted a fall in first-quarter profit and sales.
But shares of HSBC PLC HSBA, +2.86% HSBC, +3.47%  climbed 2.9% after the banking heavyweight said it is considering moving its headquarters out of the U.K.
The pan-European benchmark ended the week higher by 1.1%, its third weekly gain in four weeks. It is up 19% so far this year.
Greece: Greece’s Athex Composite GD, +3.39%  closed up 3.3% at 761.56, but moved off session highs after a meeting of eurozone finance ministers concluded without any agreement related to economic reforms needed for Greece to receive more bailout funds.
Jeroen Dijsselbloem, head of the Eurogroup finance ministers, said Greece is running out of cash. Economists at Credit Suisse on Friday said Greece could keep operations moving until July without running out of cash. Read: Greece can survive deadlock until July.
Analysts ahead of Friday’s Eurogroup meeting said it appeared unlikely any major breakthrough would emerge, but reports late Thursday following discussions between German Chancellor Angela Merkel and Greek Prime Minister Alexis Tsipras raised the prospect that more progress had been made.
Among stock moves, shares of Piraeus Bank SA TPEIR, +15.52%  jumped 15.5%, Attica Bank SA TATT, +9.30%  rose 9.3% and National Bank of Greece ETE, +6.73% rose 6.7%.
Greek bond prices fell, pushing the yield on 2-year debt up by 72 basis points to 25.5%, and the yield on 10-year bonds up 38 basis points to 12.5%. Prices and yields move inversely.
Germany: Germany’s DAX 30 DAX, +0.74%  closed up 0.7% at 11,810.85. The widely watched Ifo sentiment survey for April rose to 108.6 from 107.9 in March, reaching its highest level since June 2014. Economists polled by The Wall Street Journal had expected the indicator to rise to 108.4.
The findings from Ifo Insitute “could add to evidence that eurozone’s growth engine is gathering steam, despite the weak preliminary manufacturing and service-sector PMIs on Thursday,” said Marshall Gittler, head of global currency strategy, at IronFX Global Ltd., in a note early Friday. The effects from lower oil prices and a weaker euro are “likely to slowly feed through the real economy going forward and could provide further support to domestic sentiment.”
The euro EURUSD, +0.00%  late Friday traded at $1.0870, up from late Thursday’s level at around $1.0826.
On other major stock indexes, France’s CAC 40 PX1, +0.44%  rose 0.4% to 5,201.45, and the U.K.’s FTSE 100 UKX, +0.24%  gained 0.2% to 7,070.70, led by the climb in HSBC shares.