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Australian Indexes Down 2.5%; Billabong Plunged 44%

Marcus Jacob
19 Dec, 2011
New York City

Australian shares plunged after investors worried that ongoing euro zone crisis will drag commodities prices. Retailers declined more than 3% after surf apparel retailer Billabong plunged 44% on earnings warnings.

Wall Street in 3% Weekly Loss, Euro Zone Ratings on Watch List

Bikram Pandey
16 Dec, 2011
New York City

U.S. stocks traded sideways as investors weighed positive economic news with the debt rating downgrades of banks. A ratings agency placed France and six other euro zone nations on a negative outlook. The U.S. House passed a $1 trillion spending bill to avert a U.S. government shutdown.

U.S. Movers: Accenture, Adobe, Research in Motion, Quiksilver, Zynga

Devan Biswas
16 Dec, 2011
New York City

Zynga, the online game developer was flat after it priced its public offering and raised $1 billion and 75% of the offered shares changed hands. Research in Motion declined after it announced product delays. Accenture fell after it cut its annual earnings outlook. Adobe gained on positive outlook.

U.S. Inflation Flat; United Rentals Offers $1.9 Billion for RSC

Nichole Harper
16 Dec, 2011
New York City

U.S. stocks advanced after latest read on the inflation was lower than expected. Bank stocks were in focus after another rating downgrade cut the debt rating of banks Goldman Sachs, Bank of America and Credit Suisse. Zynga, the social game developer raised $1 billion in a public offering.

Italian Austerity Approval Advances; Airbus on Track

Devan Biswas
16 Dec, 2011
New York City

European markets closed mixed and bonds yields of Italy and Spain were on the decline. Italy

Nikkei Struggles Nearl Yearly Low; Nexon Down Again

Marcus Jacob
16 Dec, 2011
New York City

Stocks in Japan closed higher tracking rising markets in New York and in Europe. Commodities linked companies gained and banks closed mixed. Nexon, the online gaming company declined for the third day in a row after it completed the largest public offering in Japan and raised $1.2 billion.

Australian Stocks Rebound After 3-day Fall; IAG in Deal with AMI

Marcus Jacob
16 Dec, 2011
New York City

Australian stocks rebounded after extending losses for three days in a row. ANZ said at the annual general meeting that it has enough capital to withstand the euro zone. Insurance Australia Group agreed to buy New Zealand based general insurance from AMI for NZ$380 million.

U.S. Economic Data Lift Indexes; 'Escalating Crisis' in Euro Zone

Bikram Pandey
15 Dec, 2011
New York City

Global markets edged higher after U.S. economic news lifted sentiment. Michael Kors Holdings Ltd public offering surged 21% on the first day of trading and raised $944 million. IMF managing director said crisis in the euro zone will need help from nations outside the region.

UK Retail Sales Fall; Old Mutual Sells Nordic Business for

Arthi Gupta
15 Dec, 2011
New York City

The UK indexes advanced after retail sales volume declined and Ireland''s manufacturing price inflation eased in November. UK inflation expectations for the year ahead eased in November.

U.S. Weekly Jobless Claims Fall, Producer Prices Rise

Arthi Gupta
15 Dec, 2011
New York City

The U.S. indexes gained after weekly jobless claims fell to 366,000, producer price index rose 0.3% and foreclosure filings declined 14% in November. Lam Research agreed to acquire Novellus for $3.3 billion and Fujifilm agreed to buy SonoSite for $995 million.

Nikkei in Tokyo Falls 1.7% , Tankan Index Turns Negative

Nigel Thomas
15 Dec, 2011
New York City

Stocks in Tokyo extended losses after the latest quarterly survey of big businesses showed a fall in confidence. Large businesses also plan to cut capital expenditure in the quarter ahead. Ocean freight companies dropped to the lows of the year after rates fell on the Asia-Europe route.

Euro Area Inflation Steady; French Output Stagnates

Arthi Gupta
15 Dec, 2011
New York City

Employment in the euro area fell in the third quarter. German private sector improved but French private sector output stagnated in December. Swedish unemployment rate dropped in November to 6.7% and Dutch jobless rate held at 5.8%.

Weak Commodities Extend Losses in Australia; JB Hi-Fi Down

Marcus Jacob
15 Dec, 2011
New York City

Australian stocks extended losses for the third day in a row as commodities plunged in Asian markets. Silver tumbled 8%, copper fell more than 6% and gold declined 5%. Australian banks reiterate their lack of willingness to pass on future rate hikes as profits soar to record high.

Spanish Debt Auction and a Rebound in Euro Lifts Markets

Arthi Gupta
15 Dec, 2011
New York City

European indexes gained after Spain raised

U.S. Indexes Drop 1%; Gold Falls $93, Oil Down 5%

Bikram Pandey
14 Dec, 2011
New York City

Market indexes in New York traded lower for the third day in a row as bond market yields rose in Europe and the euro declined. The S&P 500 index dropped nearly 4% in the week as the euro retreated more than 3%. Oil plunged 5%, silver tumbled 8% and gold dropped $93 an ounce.

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