Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2024 > News item |
Morning Commentary: Duke Energy convertibles active on quiet morning
By Abigail W. Adams
Portland, Me., April 1 – The convertible bond primary and secondary markets launched the first day of the new quarter quietly with no new deals announced and trading volume light.
Equity indexes dipped into negative territory early in the session with the Dow Jones industrial average down 234 points, or 0.59%, the S&P 500 index down 0.25%, the Nasdaq Composite index down 0.01% and the Russell 2000 index down 0.92% shortly before 11 a.m. ET.
There was $68 million in reported volume about one hour into the session with Duke Energy Corp.’s 4.125% convertible notes due 2026 (Baa2/BBB) accounting for nearly one-third of the total volume in the space.
“That says it all,” a source said in reference to the activity in the market.
While active, Duke’s 4.125% notes were largely unchanged.
The notes were wrapped around 99 with stock at $96.71 early in the session, a source said.
There was $18 million in reported volume.
Duke Energy stock was trading at $95.85, a decrease of 0.89%.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.