A very mixed day for energy prices

Benchmark oil for May delivery fell 41 cents to close at $99.19 in midday trading in New York. Wholesale gasoline fell 0.4 cents to close at $2.882 a gallon. Heating oil rose 1.1 cents to close at $2.921 a gallon. Natural gas rose 13.5 cents to close at $4.411 per 1,000 cubic feet. Brent crude, used to set prices for international varieties of crude used by many U.S. refineries, rose 7 cents to close at $106.99 in London.

Weather, interest rates keep home prices down

U.S. home prices dipped in January for a third straight month, likely because of slower sales in recent months caused by cold weather, a limited supply of homes and higher mortgage rates.

The Standard & Poor’s/Case-Shiller 20-city home price index, released Tuesday, declined 0.1 percent from December to January, the same drop as the previous two months. That figure is not adjusted for seasonal variations, so the dip partly reflects weaker winter sales.

The index rose a healthy 13.2 percent in January compared with 12 months earlier. But that is down from a 13.4 percent increase in 2013.


Consumers more upbeat about economic prospects

U.S. consumer confidence has rebounded to the highest reading in six years, providing a further sign that the economy’s prospects should brighten with warmer weather.

The Conference Board said Tuesday that its confidence index rose to 82.3 this month from a February reading of 78.3. It was the strongest reading since the index stood at 87.3 in January 2008, as the Great Recession began.

‘Candy Crush’ maker raises $500 million in IPO

The maker of the popular mobile game “Candy Crush Saga” has raised $499.5 million in an IPO that values the Irish company at about $7.1 billion.

Shares were priced at $22.50 each, the middle of King Digital Entertainment PLC’s expectations. The company is selling 15.3 million of the 22.2 million shares. The rest of the stock is being sold by existing shareholders.

King Digital Entertainment PLC had $1.88 billion in revenue last year. Its other top games include “Pet Rescue Saga” and “Farm Heroes Saga.”

The company says it will use the proceeds for working capital and other general corporate purposes. The shares are expected begin trading Wednesday on the NYSE under the ticker symbol “KING.”

Only subscribers are eligible to post comments. Please subscribe or login first for digital access. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.