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Market Update

Euro Zone Worries Drag Indexes in New York, UPS Cuts Outlook

Arthi Gupta
24 Jul, 2012
New York City

U.S. indexes edged lower as global markets remained focused on the euro zone debt pressures. Cisco planned to slash 1,300 jobs. Whirlpool swung to quarterly profit and EMC Corp second quarter net rose 19%. After the close, Apple is scheduled to release earnings.

Australian Iron Ore Export Prices Fall Extends to Eighth Month

Marcus Jacob
24 Jul, 2012
New York City

Australian stocks rebounded after a private survey showed an increase in Chinese manufacturing activities in July. Export price of iron ore declined for the eighth month in a row. Billabong received another takeover offer at a reduced valuation.

Greek and Spanish Worries Intensify in Euro Zone

Arthi Gupta
24 Jul, 2012
New York City

The European indexes traded sideways in thin trading and debt pressures intensified in the region. Spain raised

Europe Movers: SAP, Software AG, KPN, STMicro, Norsk Hydro

Arthi Gupta
24 Jul, 2012
New York City

The telecom operator KPN said quarterly net declined 24%. Norsk Hydro, the aluminum maker said second quarter revenues fell 13% and swung to a net loss. SAP AG said second quarter sales rose 18% and net increased 12% and Software AG said revenues barely budged 1%.

Euro Area Private Sector Contracts, French Confidence Falls

Arthi Gupta
24 Jul, 2012
New York City

The euro-zone private sector economy contracted and French business confidence fell in July. Hungarian retail sales declined in May. Spanish producer price inflation eased in June.

World Markets Slide 1% to 5% on Merger Monday

Bikram Pandey
23 Jul, 2012
New York City

Global markets plunged on the growing speculation that Spain may be forced to ask a larger bailout ans the crisis deepens. U.S. indexes closed down 1% and recovered from the earlier losses of 2% and European markets plunged between 3% and 5%. Pete

Nikkei Drops 1.9% to Lowest in Six Weeks

Nigel Thomas
23 Jul, 2012
New York City

Nikkei index in Tokyo plunged the most in six weeks in light trading as investors lowered expectations in the euro zone as Spanish crisis broadens in the economy. Print makers declined after Xerox lowered its outlook. Resources linked stocks fell.

U.S. Movers: Genesee, GenCorp, Eaton, Halliburton, McDonald

Mukesh Buch
23 Jul, 2012
New York City

Cnooc agreed to buy Nexen for $15 billion. Genesee agreed to acquire RailAmerica for $1.39 billion. Halliburton second quarter net slid. McDonald

UK Indexes Slump 2.3%, Household Finance Index Decline Slows

Arthi Gupta
23 Jul, 2012
New York City

UK indexes extended world markets decline as the debt crisis in the euro zone resurface and the Libor scandal widens to regulators. UK household finance index rose in July and manufacturing sector is expected to contract this year.

Weak Metals, World Markets Drag Australian Indexes 1.7%

Marcus Jacob
23 Jul, 2012
New York City

Australian indexes plunged 1.7% as markets in Asia declined. World markets turned cautious after fears rose that Spain may be sliding towards a full blown bailout as crisis moves from the banking industry turmoil to economic decline.

Wall Street Down 2%, CNOOC, Nexen in $15.1 B Deal

Arthi Gupta
23 Jul, 2012
New York City

Wall Street extended global decline and dropped 2%. CNOOC agreed to acquire Canada-based Nexen for $15.1 billion. NRG and GenOn are in a $1.7 billion deal. Talisman Energy sells 49% equity interest in UK North Sea Assets. DigitalGlobe and GeoEye agreed to merge.

Spanish Worries Sink European Markets 3%

Arthi Gupta
23 Jul, 2012
New York City

Market indexes in Germany and France plunged more than 3% as Spanish yield soared to a new record. The indexes in Madrid plunged 3.8% and in Italy dropped 5%. Spain lowered economic outlook for next year. China-based Citic agreed to buy CLSA from Credit Agricole for $1.25 billion.

Third Quarterly Decline in Spain, Swiss M3 Growth Improves

Arthi Gupta
23 Jul, 2012
New York City

The Spanish economy contracted for the third quarter in a row. Swiss broad money supply growth rose and Luxembourg''s unemployment rate remained unchanged in June. Danish consumer confidence strengthened in July.

Indexes in New York, Europe Fall as Spain Leads List of Worries

Bikram Pandey
20 Jul, 2012
New York City

Wall Street losses accelerated after technology and financial sectors led the decliners. Euro zone worries contributed to weak earnings from financials. Commodities halted two week rally and the oil declined for the first time in nine days.

Weakness in Financials, Insurance Sectors Drag Nikkei Lower 1.4%

Nigel Thomas
20 Jul, 2012
New York City

Stocks in Tokyo dropped on Friday and the Nikkei index closed down 3.9% in the week. Insurance and financial services stocks declined after weak economic data from the U.S. Toshiba gained but Yamato Holdings declined.