News Headline Summary

US EQUITY WRAP - NASDAQ 100 outperforms on news that Roche is said to seek financing for a potential Alexion takeover bid...

US equity markets closed mixed today with the NASDAQ 100 the stronger of the three indices and the DJIA the weakest. The NASDAQ 100 was boosted by news that Roche is said to seek financing for a potential Alexion takeover bid. This saw Alexion shares move over 23% higher at one point before closing the session up around 15%. This also supported other Biotechnology names with ARIAD Pharmaceuticals up 10% and BioMarin Pharmaceuticals up 11%. The DJIA was weighed upon by its 5th largest component, Boeing, whose shares were down as much as 7% at one stage before closing the session lower by around 5%. This follows news that an incident occurred with a Boeing 787 Dreamliner at London’s Heathrow airport, involving fire crews. This immediately prompted fears of another fault with the 787’s troublesome battery issues, which caused the downside in the share price. Heading into the close, a large buy-side imbalance was observed which supported equity markets in the last 30 minutes of trade. Finally, DJIA closed down 0.01% at 15460.76, S&P 500 up 0.29% at 1679.97 and NASDAQ 100 up 0.64% at 3079.07.

12 Jul 2013 - 15:02 - Equities - Source: RANsquawk

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