Yahoo Finance Trending tickers: Bitcoin | Macy's | Rolls-Royce | Glencore
Bitcoin (BTC-USD)
Bitcoin reversed nearly a week of gains on Monday morning, briefly dropping below $41,000 (£32,663), with the dip resulting in around $270m of long positions to be liquidated.
It stands as the single largest one-day decline in over a month – the crypto asset has seen a steady climb of late on optimism that a spot Bitcoin ETF might be approved by regulators in the US. If approved, an ETF could bring significant new capital to the market through the likes of asset managers Blackrock and Fidelity. It has long been in the regulatory pipeline.
As of 9.30am on Monday bitcoin was trading at $42,300 to the dollar, down 3.3%. Ethereum (ETH-USD), the second largest crypto asset by market cap, also dropped more than 4% to trade at $2,244.
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Macy's (M)
Retail darling Macy's stock was up almost 20% in premarket trade in the US after reports by WSJ and Yahoo Finance late Sunday that the chain received a $5.8bn buyout offer from real estate investor Arkhouse Management and asset manager Brigade Capital Management.
The offer – which values Macy's at about $21 a share – was reportedly submitted on Dec. 1. The company's board is mulling the offer.
The WSJ first reported reported news on the offer earlier Sunday. Macy's declined to comment to Yahoo Finance.
The offer price marks a 32.4% premium to Macy's closing price on Nov. 30.
Rolls-Royce (RR.L)
Engine-maker Rolls-Royce led the FTSE 100 on Monday morning, rising more than 2% off the back of an increased price target from broker Citi.
Citi set a 431p target for the firm following bumps from UBS and Deutsche Bank on Friday. The pair increased the target to 400p from 350p.
Glencore (GLEN.L)
Elsewhere in the FTSE miners were leading declines, as base metal prices were pushed lower by the dollar on disappointing consumer price data coming from China.
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Endeavour (EDV.L), Fresnillo (FRES.L), Glencore and Rio Tinto (RIO.L) moved lower in tandem, all trading more than 1% down in the morning session.
Anglo American (AAL.L) bucked the trend, meanwhile, despite at least four brokerages lowering price targets on the stock. The company faced heavy selling on Friday as it slashed production to cut costs.
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