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Market Update

Europe Movers: Aegon, UBS, Ericsson, Symrise, TeliaSonera, Merck

Arthi Gupta
20 Dec, 2012
New York City

Aegon formed strategic partnership with Banco Santander. UBS to face Hong Kong rate manipulation probe. TeliaSonera agreed to divest NextGenTel to Telio for NOK 601 million.

U.S. Stocks Gyrate on Budget Talks, World Markets Advance

Bikram Pandey
19 Dec, 2012
New York City

Market indexes in New York traded lower after protracted budget negotiations took a negative turn. General Motors soared 6% after it plans to repurchase 200 million shares from the U.S. government. Housing starts declined in November. Nikkei index in Tokyo surged 2.4%.

Bank of England Split on Stimulus, BP to Sell Yacheng Gas Field

Arthi Gupta
19 Dec, 2012
New York City

The UK indexes extended global markets gains. BP plc agreed to sell its interest in the Yacheng gas field for $308 million. Balfour Beatty was awarded two major National Grid gas contracts valued at

U.S. Movers: Actuant, FedEx, General Mills, Navistar Intl., Oracle

Mukesh Buch
19 Dec, 2012
New York City

Actuant first quarter net slipped 2% and FedEx second quarter net dropped 12% and reaffirmed fiscal outlook. General Mills second quarter net climbed 22% and lifted guidance. Navistar Intl. said fourth quarter net loss of $2.77 billion. Oracle second quarter net soared 18%.

Treasury to Exit General Motors; Housing Starts Decline but Permits Rise

Arthi Gupta
19 Dec, 2012
New York City

Housing starts fell in November but new building permits and indication of future construction rose. Markel agreed to acquire Alterra for $3.13 billion. Oracle profit rose 18% but FedEx earnings declined 12% in the second quarter.

Nikkei Soars 2.4% on Stimulus Talks and BoJ Expectations

Nigel Thomas
19 Dec, 2012
New York City

The Nikkei index soared 2.4% and crossed 10,000 on the expectations of stimulus budget of as much as $110 billion and the Bank of Japan starts a two-day meeting under an intense political pressure to purse easier monetary policy.

Greek Ratings Upgraded, UBS Settles Libor Probe for $1.5 B

Arthi Gupta
19 Dec, 2012
New York City

The European indexes gained after a rating agency upgraded Greek credit. UBS estimates loss in the fourth quarter on litigation and regulatory charges.

Australian Index Retain Positive Momentum

Marcus Jacob
19 Dec, 2012
New York City

Australian benchmark index closed higher on the rising international markets and improving economic outlook in the euro zone and positive undertone in the U.S. budget negotiations. Resource sector stocks gained after iron prices improved to a 3-month high.

Euro Zone Construction Declines 1.6%, German Confidence Improves

Arthi Gupta
19 Dec, 2012
New York City

Euro area construction output declined in October. German business confidence improved more than anticipated in December. The Dutch economy is set to contract this and next year.

Europe Movers: Axa, freenet, DSM, TUI, UBS, Merck, Swiss Re

Arthi Gupta
19 Dec, 2012
New York City

DSM completed its acquisition of Fortitech for

U.S. Movers: Diamond Foods, FactSet, Jefferies, Sanderson Farms

Mukesh Buch
18 Dec, 2012
New York City

Diamond Foods first quarter net swung to loss as sales declined and FactSet Research first quarter net jumped 9% to $49.8 million and Jefferies Group fourth quarter net surged 48% to $71.6 million. Sanderson Farms fourth quarter net swung to profit.

UK Inflation at 2.7%, IMF Approves $1.17 B Disbursement for Ireland

Arthi Gupta
18 Dec, 2012
New York City

The UK annual inflation remained unchanged at 2.7% in November and home prices increased in October. Irish economy expanded in the third quarter. Rolls-Royce won a $1 billion contract from Japan-based Skymark Airlines.

U.S. Current Account Deficit Narrows, Budget Talks Progress

Arthi Gupta
18 Dec, 2012
New York City

U.S. current-account deficit narrowed in the third quarter. ConocoPhillips agreed to sell its Algerian business unit for $1.75 billion. Coca-Cola Enterprises affirmed full-year earnings guidance.

Spain Raises

Arthi Gupta
18 Dec, 2012
New York City

The European indexes gained on positive developments in fiscal cliff talks. Spain raised

Spanish Bad Loans Surge, Riksbank Slashes Repo Rate

Arthi Gupta
18 Dec, 2012
New York City

Spanish banks'' bad loans ratio reached record levels and Italian current account deficit narrowed in October. Swedish central bank cut its key interest rate by 25 basis points.