Good evening, this is Laura Speizman , Cyberspace Investment News, with the Friday June 26 report.
The Dow Jones and S&P 500 closed lower for the second week in a row, while the Nasdaq posted slim gains for the week.
Merger activity has had a modest rebound in the past couple of weeks. Highlights of this activity included Sinopec’s acquisition of Addax Petroleum for $7.3 billion, while Holcim, the cement manufacturer, acquired Cemex Australia for $1.6 billion.
Meanwhile debt offerings included Merck, the pharmaceutical company’s, $4.25 billion note offering, Telefonica Emsiones $2.25 billion note offering, and Gas Natural SDG’s 2.5 billion Euro note offering.
While equity has been quieter lately, there have been a couple of IPO’s with VisaNet, the Brazilian Visa affiliate, announcing a $4.3 billion IPO and Western Asset closing a $218.5 million IPO for its fund.
This has been the Friday report. Good night.
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