New York Stock Exchange Wall Street hesitates despite the IPO Alibaba
New York (awp / afp) – Wall Street was reluctant to appear higher on Friday, shortly after the IPO fanfare the largest Chinese Internet retail giant Alibaba, history: the Dow Jones took 0.12% but the Nasdaq yielded 0.34%
By 1700 GMT / 19.00 hours CET, the Dow Jones clinching. 20.21 points to 17’286,20 point, continuing the steady after hitting a record high yesterday, the second in a row. Nasdaq yielded 15.79 points to 4,577.63 Points
The broader S & amp;. P500 let go 0.04% or 0.83 points to 2,010.53 points dropping slightly ground after a new record yesterday.
All morning, brokers have had eyes on the screens showing the title of Alibaba, traded under the symbol “Baba”, which finally began his scoring shortly before the mid-session on the New York Stock Exchange.
When it began, the largest IPO in history was greeted with shouts of enthusiasm on the floor NYSE, iconic platform instead of New York, or noted an influx become rare since the era of electronic communication.
After a jump to $ 99.70, just below threshold of $ 100, up 46% from its IPO set yesterday at $ 68 price, the stock has slightly declined.
It was trading at $ 90.16, in increase to $ 32.59 at 17h15 GMT.
After starting session up, indices however lost much in force, carried down by the Nasdaq, which brings together major technology stocks.
“This is proof that you can never predict market reactions when we see that after a glorious introduction as” the indices are under pressure, “particularly in the area” s ‘Alibaba noted Gregori Volokhine of Meeschaert Financial Services.
While some might attribute it to fears about a possible overvaluation of Alibaba and industry, the price that was quoted Friday as it was Alibaba “justified. “It’s not a red flag,” he has said.
Art Hogan, of Wunderlich Securities, “it is also small profit taking” after a week that experienced new highs on Wall Street.
On the other hand, operators pushed a sigh of relief Friday morning noting that Scotland remained in the lap of the United Kingdom, after the failed ” yes “to the referendum on independence yesterday.
The financial markets feared that a victory camp independence would set a precedent in Europe, favoring the secessionists elsewhere, notably in Spain inclinations and destabilize a region already weakened by a fragile economy.
In this context, the lower than expected in the composite index of the Conference Board in August up going relatively unnoticed.
BOND OF TITLE “TECH” CHINESE
The Internet portal Yahoo !, the second largest shareholder of Alibaba plunged 3.81% to 40.48 dollars, part of the market fearing a decline of interest for the title after the market eagerly awaited Alibaba.
“The title was used until now as the gateway to Alibaba door. Now you can buy it directly, “said Art Hogan. Moreover,” investors are wondering what the group will do with the money he has raised on this one, “estimated at more than $ 8 billion has he continued.
In contrast, the giant Amazon distribution, some feel threatened by the arrival of New York instead of Alibaba, frankly was maintained in the green and clinching 1.01% to 328.29 dollars.
Buoyed by the enthusiasm surrounding the placing on the market of Alibaba, the Chinese Internet company Chinanet Online Holdings soared 115, 69% at $ 2.20.
The specialist professional software Oracle, whose founder and media CEO, Larry Ellison, decided to hand over the reins plunged 4.77% to 39 57 dollars.
In the technology sector still, Apple yielded 0.19% at $ 101.60 on the first day of marketing the iPhone 6 and iPhone 6 More in Apple stores in 20 countries.
The American chain of home improvement stores Home Depot, which said on Thursday that the security of 56 million credit cards had been compromised during the cyber attack which she suffered between April and September however, has appreciated by 0.52% to 92.57 dollars.
The bond market progressed. The yield on 10-year Treasury retreated to 2.593% against 2.629% Thursday night, and that good for 30 years at 3.309% against 3.359% at the previous close.
afp / rp
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