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Market Update

Nikkei Falls Back 1% Leading Asian Markets Decline

Nigel Thomas
21 Dec, 2012
New York City

The Nikkei index declined 1% after Asian markets sold off on the worries that U.S. lawmakers may not be able avoid differences and jeopardize anemic growth rate. The yen declined and resource sector stocks led the decliners.

Australian and Asian Markets Sell-Off

Marcus Jacob
21 Dec, 2012
New York City

Australian market indexes traded lower after Asian market sold off and commodities prices trended lower after U.S. lawmakers failed to resolve differences. Origin Energy agreed to sell its stake in a oil and condensate project for $287 million. Fairfax agreed to acquire tech investment firm.

UK GDP Growth Lowered, Aviva Sells US Business for $1.8 B

Arthi Gupta
21 Dec, 2012
New York City

The UK indexes fell after gross domestic product increased but current account deficit narrowed in the third quarter. UK consumer confidence declined in December. Aviva agreed to sell Aviva USA to Athene for $1.8 billion.

U.S. Movers: Bed Bath, ConAgra, Nike, Red Hat, Rite Aid, Walgreen

Mukesh Buch
21 Dec, 2012
New York City

Bed Bath third quarter net slipped 2% and ConAgra second quarter net surged 17%. Nike second quarter net declined 18% to $384 million. Rite Aid third quarter net swung to profit and Walgreen first quarter net declined 25%.

U.S. Durable Goods Orders Climb, Pinnacle to Acquire Ameristar for $2.8 B

Arthi Gupta
21 Dec, 2012
New York City

U.S. manufactured durable goods orders, personal income and spending rose more than anticipated in November. Pinnacle Entertainment agreed to acquire Ameristar for $2.8 billion. Mohawk is acquiring Marazzi for $1.5 billion in cash and equity.

European Indexes Lower, Avio Sells Aviation Business

Arthi Gupta
21 Dec, 2012
New York City

The European indexes declined. General Electric agreed to buy the aviation business of Italy-based Avio for $4.3 billion. ING agreed to sell Malaysian investment management business to Kenanga.

Euro Zone Economy Expanded in November, Spanish PPI Eases

Arthi Gupta
21 Dec, 2012
New York City

The euro zone economy expanded in November. German consumer sentiment is set to decline in January. Italian consumer confidence and French business confidence improved in December.

Europe Movers: Carnival, ArcelorMittal, Eni, Novartis, Technip, Nokia

Arthi Gupta
21 Dec, 2012
New York City

Carnival fourth quarter earnings slumped 57%. Technip won $1.25 billion offshore contract in Norway. Kl

ICE to Acquire NYSE Euronext, Stocks Ride Fiscal Cliff Talks Optimisim

Bikram Pandey
20 Dec, 2012
New York City

Stocks seesawed after lawmakers sparred but House Speaker Boehner sounded optimistic. Only 12-years old IntercontinentalExchange Group agreed to acquire NYSE Euronext Group for $8.2 billion and solidify its leadership in derivatives market and extend reach in Europe and challenge CME Group.

Bank of Japan Expands Asset Program, Nikkei Falls 1.2%

Nigel Thomas
20 Dec, 2012
New York City

Investors turned cautious and sold stocks and Bank of Japan expanded its asset purchase program but left it inflation target at 1%. The latest central bank action was widely anticipated.

UK Retail Sales Flat, Accenture Falls 1%

Arthi Gupta
20 Dec, 2012
New York City

The UK indexes edged modestly higher after retail sales remained flat in November. Weir Group agreed to acquire engineering company Mathena. Accenture quarterly revenues rose 2% to $7.22 billion. HSBC subsidiary agreed to sell its entire 18% stake in Bao Viet for $340 million.

U.S. Jobless Claims Rise, Economy Grew Faster 3.1% in Q3

Arthi Gupta
20 Dec, 2012
New York City

U.S. jobless claims rose and the economy expanded at a faster rate in the third quarter than previously estimated. ARRIS agreed to buy Motorola Home business for $2.35 billion. Knight Capital agreed to be acquired by Getco for $1.4 billion.

Australian Markets Gain, Qantas-Emirate Plan Wins Preliminary Approval

Marcus Jacob
20 Dec, 2012
New York City

The benchmark index in Sydney closed higher and extended gains in the year above 12%. Qantas won a preliminary approval for its cooperation with Emirates for sharing passenger and freight transportation across their networks that could save $150 million a year.

EC Approves Four Spanish Banks Restructuring, BNP Exits Egypt

Arthi Gupta
20 Dec, 2012
New York City

The European Commission approved restructuring plans of four Spanish banks. BNP plans to sell its entire 95% stake in BNP Paribas Egypt S.A.E. to Emirates NBD for $500 million.

German Producer Prices at 4-Month Low, Retail Sales in Italy Falls 1%

Arthi Gupta
20 Dec, 2012
New York City

German producer prices eased to a four-month low in November. Swiss jobless rate rose in the third quarter. Italian retail sales fell in October.