Stocks appear set to open mixed this morning as tech shares look strong, but energy firms are weakeningr the broader market.
Crude prices are down another 3%, after Russia refused to go along with OPEC’s suggested production cuts.
Big name techs such as Cisco and Intel are seeing renewed buying interest today, as U.S. traders come back to work in earnest after the prolonged Thanksgiving holiday.
In Europe, stocks are mixed too and the same trends are prevailing. Oils are weak, but techs are up, as are miners and media stocks. The FTSE is down seven points to 5286. But the CAC 40 has gained 16 points to 4590. The DAX is up 24 points to 5175.
Overnight in Asia, stocks had gained, led by techs. The Nikkei added 367 points to 11064. The Hang Seng rallied up 69 points to 11392.
In M&A news, Enbridge Inc. has agreed in principle to acquire a 25% stake in Compañía Logistica de Hidrocarburos CLH, S.A., Spain’s largest refined products transportation and storage business, for approximately $530 million.
Mixed message for stocks this morning
Techs poised to open higher but energy shares look weak
- By: James Langton
- November 26, 2001 November 26, 2001
- 09:30