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Market Update

U.S. Indexes Pause Near Record Levels, BMC in $6.9 Billion LBO Deal

Author: Nichole Harper
Last Update: 11:08 AM ET May 06 2013

11:05 AM New York – U.S. indexes paused near record levels set last week on the back of easy monetary policy from central banks. Crude oil futures held firm despite a unilateral air strike carried out by Israel. BMC Software agreed in a leveraged buyout that valued the company at $6.9 billion.

U.S. market indexes traded flat after better-than-expected payrolls data on Friday and market indexes hovered near record territory.

Oil prices held firm after investors surmised that recent unilateral stroke by Israel in Syria will not disrupt oil supplies.

Israel said it carried out focused strike and targeted missile supply center that could help the Hezbollah group. Israel did not issue any warnings or shared information of the attack with any of its so called partners in Europe and the U.S.

Chinese military withdrew from the recent outposts built in the Indian side of the border between the two most populous nations after India protested.

China has been staking military claims for its borders in clashes with Taiwan, Japan and disputed islands with Vietnam and Philippines.

European Markets

European market indexes declined from the 5-year highs after retail sales fell and service and manufacturing sector output shrank for the fifteenth month in a row.

In Frankfurt trading, the DAX 30 index traded flat and in Paris the CAC 40 index declined 6.1 or 0.2% to 3,907.

Markets in UK, Ireland and Greece were closed for public holidays.

Retail sales in the euro zone decreased 0.1% in March after a revised 0.2% fall in February, according to Luxembourg based eurostat.

Asian Markets

Markets in Asia closed mixed and markets in Japan were closed for a public holiday.

Malaysian market index soared as much as 8% and closed up 3.9% after the ruling coalition retained its hold on power.

The latest election showed that Prime Minister Najib Razak’s UMNO party and its allies are likely to win 133 seats in 122-member parliament and extend the hold on the government beyond 56 years.

However, opposition coalition led by former finance minister Anwar Ibrahim made headway and prevented the ruling coalition to win two-third majority but failed to unseat them.

Stocks in Review

BMC Software Inc fell 0.4% after it agreed to be acquired by a consortium of private equity groups led by Bain Capital and Golden Gate Capital Corp for about $6.9 billion.

Tyson Foods Inc declined 4% after the meat processor reported a steep decline in second-quarter earnings as customers switched to chicken from beef.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc