Lithia & Driveway Boosts Share Repurchase Program By $350 Mln
(RTTNews) - Automotive retailer Lithia & Driveway (LAD) announced Tuesday a $350 million increase to its share repurchase authorization by its Board of Directors, bringing total funds available for future repurchases to approximately $660 million.
To date this year, LAD has invested over $156 million to repurchase nearly 609,500 shares, 2.2% of outstanding shares, at a weighted average price of $257 per share.
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U.S. Consumer Sentiment Improves More Than Expected In November
Preliminary data released by the University of Michigan on Friday showed consumer sentiment has improved by more than expected in the month of November. The University of Michigan said its consumer sentiment index climbed to 73.0 in November from 70.5 in October. Economists had expected the index to inch up to 71.0.
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Bay Street Likely To Open On Negative Note
Lower Canadian and U.S. stock futures, weak commodity prices and European stocks point to a negative start for the Canadian market Friday morning. The focus will be on Canadian employment data.
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Pound Falls Following BoE Rate Cut
The British pound weakened against other major currencies in the European session on Friday, after the Bank of England cut interest rates as expected but signaled stickier inflation.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the European session on Friday.
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Sensex, Nifty End Marginally Lower
Indian shares moved in a narrow range before finishing marginally lower on Friday after a busy week of central bank meetings and Donald Trump's victory in the U.S. presidential election.
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Richemont H1 Profit Hits On Weak China Demand; Stock Dips
Shares of Compagnie Financiere Richemont AG were losing around 4 percent in the morning trading in Switzerland after the Swiss luxury goods group reported Friday sharply lower profit in its first half with wider loss from discontinued operations as well as slightly lower sales. Weak demand in Asia Pacific, mainly China, offset improved performance in all other regions.
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European Shares Slide As China Approves $838bn Debt Swap
European stocks drifted lower on Friday as China's top legislative body - the National People's Congress (NPC) - approved the State Council's proposal to increase local government debt limit by $838 billion after a week-long session.
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FTSE 100 Drifts Lower In Lackluster Trade
U.K. stocks were subdued on Friday, a day after the Bank of England cut interest rates as expected but signaled stickier inflation.
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