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U.S. Deficit Widens to $50.2 Billion, Alcoa Net More Than Doubles

Arthi Gupta
12 Jul, 2011
New York City

U.S. indexes traded lower as the euro-zone debt contagion fears expand to Italy and Spain. U.S. trade deficit widened to $50.2 billion in May. NCR agreed to acquire Radiant Systems for $1.2 billion. Alcoa Inc net sales increased 27% and net more than doubled.

Nikkei in Japan Declined 1.4%, Rate on Hold

Nigel Thomas
12 Jul, 2011
New York City

Stocks in Japan declined following the worldwide stocks and commodities selloff. Japanese investors are increasingly factoring a bailout of Spain and Italy in the next six months. Banks led the losers as trading and resource companies also dropped. The yen strengthened.

French Deficit Widens; German Inflation Flat at 2.3%

Arthi Gupta
12 Jul, 2011
New York City

Inflation in the euro area eased and Czech jobless rate dipped in June. Greek import price inflation slackened and French deficit widened in May.

Italian Debt Sale Fails to Improve European Market Sentiment

Arthi Gupta
12 Jul, 2011
New York City

European finance ministers failed to resolve the participation level of private lenders in the second Greek bailout after six hours meeting on Monday. Growing Italian debt fears dragged European indexes more than 2%. Italy completed short term debt sale at a sharply higher rate.

Australian Stocks Follow World Markets Lower; News Corp Drops 4.5%

Marcus Jacob
12 Jul, 2011
New York City

Australian markets followed world markets and declined 1.9% after the euro-zone debt contagion fears widened to Italy. The sudden shift in the sentiment unnerved world stock and commodities markets that saw major indexes decline near 2%.

European Debt Stress Drags S&P 2% Lower; Euro at $1.40

Bikram Pandey
11 Jul, 2011
New York City

U.S. indexes on Monday dropped as much as 2%. The sentiment weakened after the weak jobs report on Friday, rising inflation in China and the spread of sovereign debt stress in Italy accelerated sell-off from the start. Peabody Energy made one more attempt to acquire Australia based Macarthur Coal.

U.S. Movers: Arch, Caterpillar, Micromet, Stillwater, Vanguard

Mukesh Buch
11 Jul, 2011
New York City

Arch Chemicals agreed to be acquired by Lonza Group AG for $1.4 billion. Caterpillar completed acquisition of Bucyrus International of $8.8 billion. Micromet and Amgen enter in a collaboration agreement. Stillwater enters in a deal to acquire Peregrine Metals Ltd for $487.1 million.

Manufacturing Output in Ireland Rises; BSkyB Slumps 6.5%

Arthi Gupta
11 Jul, 2011
New York City

The UK indexes traded lower on global economic concerns as Italy gained the focus of bond investors. Manufacturing output in Ireland increased in May and construction activity dropped in June. BSkyB slumped 6.5% after the company''s proposed acquisition by News Corporation is under scanner.

Nikkei in Tokyo Drops 0.7%; Elpida Plunges 13%

Nigel Thomas
11 Jul, 2011
New York City

The Nikkei index declined after rallying for two weeks and the yen strengthened. Industrials and automakers declined after the U.S. reported sharply lower than expected increase in payrolls. Banks fell after debt contagion fears spread in the euro-zone to Italy.

U.S., World Markets Down on Italian Debt Fears, Chinese Inflation

Arthi Gupta
11 Jul, 2011
New York City

U.S. indexes dropped 1% on the euro-zone debt contagion fears. Italy is the latest focus. Precision Castparts agreed to acquire Primus International for $900 million. Peabody and ArcelorMittal confirmed joint bid for Australia-based Macarthur Coal for $5 billion.

Australia Proposed Carbon Tax; Peabody Sends New Bid for Macarthur

Marcus Jacob
11 Jul, 2011
New York City

Stocks in Australia in a knee jerk reaction closed lower after Prime Minister Julia Gillard proposed to levy $23 a ton of carbon generated by the largest 500 Australian companies. The proposal is expected to be implemented by July 2012. Qantas quickly announced the plan to pass on the tax.

French Industrial Output Increases; Norwegian Inflation Declines

Arthi Gupta
11 Jul, 2011
New York City

The OECD leading index fell in May. French industrial production expanded and Greek industrial output rebounded in May. Denmark surplus rose and Estonia''s trade deficit narrowed to

Italy's 4% Plunge Drags Europe Lower; Nestle Buys Chinese Candy Maker

Arthi Gupta
11 Jul, 2011
New York City

European Union regulators to hold an emergency meeting today as debt fear contagion spreads to Italy. The index in Germany fell 2.3%, in Paris dropped 2.7% and in Italy plunged 4%. Nestle agreed to buy stake in China-based Hsu Fu Chi for $1.72 billion.

U.S. Indexes Drop 1.4% on Weak Jobs Growth

Bikram Pandey
09 Jul, 2011
New York City

U.S. indexes turned lower after unemployment rate increased to 9.2% and payrolls increased only 18,000 in June. The second weak monthly jobs data cast a long shadow on market sentiment and investors scaled back economic expansion outlook. Crude oil decreased and gold gained.

U.S. Movers: Ameron, Ixia, National Oilwell, PriceSmart, Regis

Mukesh Buch
08 Jul, 2011
New York City

Ameron International second quarter net income plunged. National Oilwell agreed to acquire Ameron in cash for $772 million. PriceSmart third quarter net income rose. FTI Consulting estimated second quarter revenues in the range of $395 million to $401 million.

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