NEW YORK (awp international) – There was hardly any movement on the highly rated US stock exchanges on Monday. Half an hour before the start of trading, the broker IG valued the leading index Dow Jones Industrial 0.03 percent higher at 35,470 points and the technology-heavy Nasdaq 100 0.12 percent firmer at 15,451 points. Both indices had benefited from a speech by US Federal Reserve Chief Jerome Powell last Friday – the latter had even climbed to a record high again, while the Dow was still a little short.
As part of an international central bank conference, Powell had announced a reduction in purchases of US government bonds this year thanks to progress on the labor market and the inflation target. However, he also referred to the further rampant delta variant of the Coronavisus and emphasized that the start of the decline in the bond purchase program was not a direct sign of an imminent rate hike. In the financial markets, the cautious statements on interest rates, which had allayed worries about an abrupt change in monetary policy, were primarily taken into account.
The shares of the manufacturer of hospital beds, operating tables and patient monitoring systems Hill-Rom rose pre-market by over seven and a half percent to 143.09 US dollars after the pharmaceutical and medical technology company Baxter, according to the “Wall Street Journal”, its purchase offer to ten billion dollars respectively In July, Baxter had offered $ 144 per share, according to the report, and was thus thrown out of Hill-Rom.
In contrast, the shares of Adtran lost over six percent. The US group wants to take over the telecommunications equipment supplier Adva Optical. In the intended transaction, Adva is valued at almost 760 million euros, as the companies announced on Monday. The takeover is to take place via a share swap, with Adva shareholders receiving 0.8244 shares of the merged company (“HoldCo”) for each security. The Adtran shares would be exchanged on a one-for-one basis for shares in the new holding company.
The shares of the Chinese online company Netease, listed in New York, fell by almost eight and a half percent. They suffered from the fact that the Chinese leadership tightened the rules for young users of online games.
Chinese companies from a wide variety of industries have been facing increasing control by the domestic government for weeks. Just before the weekend, the “Wall Street Journal” reported, citing people familiar with the matter, that a ban on US IPOs by Chinese companies that had large amounts of sensitive consumer data was planned. This is likely to affect tech companies in particular./gl/stk
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