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US markets close in mixed; Asian markets open in red

April 29th, 2008

The American markets had a mixed day on Monday. NASDAQ lost points for the first hour of trade before taking a reveral route. The reverse course continued for almost till the end before which the index reversed and closed the day a mere 1.47 points up. Dow Jones Industrial Average closed in the red losing 20.11 points. The S&P 500 lost 1.47 points.

Mars, the makers of M&M’s has announced it is interested in acquiring the chewing gum company Wm. Wrigley Jr. Company for about $23 Billion. Warren Buffett seems to be joining hands with Mars to make the later America’s gaint food company.

Wm. Wrigley Jr. Company (Public, NYSE:WWY) closed the day at 76.91 up by +14.46 (23.15%). The script has a P/E of 33.77

Meanwhile, the Asian markets opened the Tuesday morning in the red. All Ordinaries is down 3.5 points. Straits Times, Seoul Composite and Taiwan Weighted too are marginally in red. The oil prices are the most watched after its price touched near $120 a barrel.

1 U.S. dollar = 104.101603 Japanese yen
1 U.S. dollar = 40.0496616 Indian rupees

Entry Filed under: Global Markets