News Column

Stocks Poised To Open Higher, Burger King And Tim Hortons In Tie-Up Talks

August 25, 2014



WASHINGTON (Alliance News) - US stocks are set to rise Monday morning amid merger news and talk of monetary stimulus from the European Central Bank.

The ECB is willing to inject considerably more cash into the system if needed to keep low rates of inflation from taking hold, Draghi told other central bankers at the Federal Reserve's annual meeting in Jackson Hole Friday evening.

The shift in Draghi's tone propelled European shares sharply higher this morning.

In corporate news, Burger King (BKW) is in talks to buy Tim Hortons (THI) and form a new publicly listed company that would be based in Canada. The deal would make it the world's third-largest fast-food restaurant company.

Burger King shares are set to jump 12%, while Tim Hortons is up 16% pre-market.

Swiss drug maker Roche will buy California'sInterMune (ITMN) for USD8.3 billion. InterMune shares surged up 36.5% pre-market.

Aerospace and defense giant Boeing Co. (BA) announced Monday that it has received an order by Singapore-based BOC Aviation for 82 airplanes, valued at USD8.8 billion at list prices.

In Libya, armed militants have reportedly taken control of Tripoli's international airport.

Crude oil futures for October delivery are up USD0.14 or 0.14% at USD93.79 a barrel.

Gold futures for December are down USD0.40 or 0.03% at USD1,279.80 an ounce, still hovering around a 9-week low, on a strong dollar.

US new-home sales figures for July are slated for release at 10 a.m. EST.



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Source: Alliance News


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