Stocks ended the day lower as investors digested disappointing housing news. Investors also noted that banks in Cyprus will be closed until March 21 after finance ministers in the euro area reached an agreement on March 16 forcing depositors to share in the cost of the latest bailout. Cypriot lawmakers are scheduled to meet tomorrow to approve a tax to raise 5.8 billion euros ($7.6 billion) as part of a bailout aimed at preventing a financial collapse and a possible exit from the euro area.
On the economic front, the Housing Market Index was lower, at 44, and is down for the second month in a row. Home builders are blaming lack of available lots and lack of available credit for the drop.
On Monday, March 18, executives and guests of Rait Financial Trust (NYSE: RAS), will visit the New York Stock Exchange (NYSE) to commemorate the company's 15th anniversary.
To mark this occasion, Chairman and CEO Scott Schaeffer will ring the NYSE Closing Bell.
About Rait Financial Trust:
RAIT Financial Trust is an internally-managed real estate investment trust that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets. For more information, please visit www.raitft.com.
Novabase Chairman’s, Rogério Carapuça and Maria Gil Marin, Investor Relations, ring the NYSE Euronext Lisbon closing bell to commemorate the entry in Portuguese index PSI 20. Novabase emerges in 1989, positioned as software-house, specialized in customized development. Over its 23-year history, Novabase has become the Portuguese leader in IT. Propelled by growth in Portugal and around the world, the company has been listed on Euronext Lisbon since July 2000. Its turnover in 2012 was €212 million, 29% from outside of Portugal, with business in 40 countries and 9 different time zones. Novabase has offices in Germany, Spain, France, theMiddle East, Mozambique, Angola and Portugal. It currently boasts more than 2,000 employees.
In the past 3 years, it has invested more than €26 million in research & development for...
In honor of Women’s History Month, the New York Stock Exchange is proud to have Afshan Khan, President and CEO of Women for Women International ring the Opening Bell. Joining her on the podium will be Andaz Hotels, a Presenting Sponsor of the March for Women campaign to highlight WfWI's March for Women. A month-long global campaign to celebrate the power and achievements of women around the world. NYSE celebrated International Women’s Day with an event at the exchange. For more information on International Women’s Day please click on the link http://www.nyx.com/events/nyse-womens-day.
About Women for Women International:
Since 1993, Women for Women International (WfWI) has worked to provide...
From The Trading Floor: Equities are trading in negative territory this morning as a levy imposed by euro area leaders on Cypriot bank deposits sparked concern the regions debt crisis is intensifying
Cyprus received a 10 billion euro bailout from the troika of lenders made up of the European Commission, the European Central Bank and the International Monetary Fund but with harsh conditions, including a bank depositor levy. Deposits of up to EUR100,000 will be taxed at 3%, those of EUR100,000 to EUR500,000 will be taxed at 10% and deposits of over EUR500,000 will be taxed at 15%.
Confidence among U.S. Homebuilders unexpectedly fell for the second month in March, a sign the residential real estate market will take some time to strengthen
Prices of newly built homes increased in 66 of 70 Chinese cities tracked by the National Bureau of Statistics in February. This is up from 53 the previous month