Stock Futures Higher as Scotland Votes Down Independence, Alibaba's (BABA) IPO Prices Sep 19, 2014 06:42AM

Stock futures are higher Friday after Scotland voted to rejected independence from the U.K. and ahead of the highly-anticipated Alibaba (NYSE: BABA) IPO, which priced at $68.

Dow futures are up 78, S&P 500 futures are up 7 and Nasdaq futures are up 16.

Overnight, results showed 55% of Scottish voters rejecting independence from the U.K. while 45% favored it. "To those in Scotland skeptical of the constitutional promises that were made let me say this - we have delivered on devolution under this government and we will do so again in the next parliament," British Prime Minister David Cameron said. "The three pro-union parties have made clear commitments on further powers for the Scottish parliament—we will ensure that those commitments are honored in full."

Meanwhile, Alibaba (NYSE: BABA) priced its highly-anticipated IPO at $68 per share, the high end of the recently revised range. Shares will open today on the NYSE.


Poroshenko says Russia has now invaded Ukraine - Bloomberg Sep 18, 2014 10:25AM

Poroshenko says Russia has now invaded Ukraine - Bloomberg


ECB Allots EUR 82.6B in First Targeted Longer-Term Refinancing Operation (FXE) Sep 18, 2014 08:52AM

The European Central Bank has today allotted €82.6 billion to 255 counterparties in the first of eight targeted longer-term refinancing operations (TLTROs) to be conducted between September 2014 and June 2016. The programme is designed to enhance the functioning of the monetary policy transmission mechanism by supporting bank lending to the real economy.

In order to participate in the tender that was announced on 16 September, credit institutions had to express their interest and send completed reporting templates by 28 August. A total of 382 entities were eligible to bid in the first TLTRO, representing, either directly or indirectly, 1372 credit institutions. Additional counterparties that intend to participate in the second TLTRO in December will have to send completed reporting templates by 20 November 2014, 3.30 p.m. CET.

The second TLTRO, as previously communicated, will be announced on 9 December and allotted on 11 December.

In the first two tenders, banks and groups of banks are entitled to an initial borrowing allowance equal to 7% of the total amount of their loans to the euro area non-financial private sector, excluding loans to households for house purchase, outstanding on 30 April 2014. Therefore, eligible banks who have not reached their initial allowance limit in the first TLTRO will be able to increase their initial borrowing amount up to that limit in the second TLTRO.

Thereafter, banks will be able to apply for additional funding, depending on the evolution of their lending activities against a specific benchmark.

The TLTROs, first announced on 5 June, together with measures announced on 4 September related to the purchase of non-financial private sector assets, will have a sizeable impact on the ECB’s balance sheet.

Key points:

  • Banks take up €82.6 billion in first of eight TLTROs

  • Programme supports lending to the real economy

  • Part of package of ECB measures that will have sizeable impact on ECB’s balance sheet


Nike (NKE) Suspends Adrian Peterson's Contract Sep 17, 2014 11:56AM

Nike (NYSE: NKE) says it suspended Adrian Peterson's contract.

The company offered the following statement: Nike in no way condones child abuse or domestic violence of any kind and has shared our concerns with the NFL. We have suspended our contract with Adrian Peterson.

Shares of Nike are up 0.4 percent.


EU sanctions on Russia to enter into force tomorrow (RSX) Sep 11, 2014 06:37AM

EU sanctions on Russia to enter into force tomorrow, according to officials.


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