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Contagion Fears Drive European Yields Higher; ThyssenKrupp Plunges 5%

Arthi Gupta
07 Jul, 2011
New York City

The European indexes gained after Germany''s industrial output climbed more than estimated in May. The French Finance Minister Francois Baroin hinted that the second bailout for Greece would be finalized by September. Rating agency lowered the government-guaranteed debt of four Portuguese banks.

World Markets Focus on Rising European Debt Stress

Bikram Pandey
06 Jul, 2011
New York City

U.S. indexes traded sideways ad service industry grew at a slower pace in May. European markets focused on the rising sovereign bonds spreads to German bunds. Portuguese bonds spread surged to a record high and yields on Spanish, Italian and Irish bonds advanced. Chinese banks worries resurfaced.

U.S. Mortgage, Refinancing Activity Drops; Indexes Down

Arthi Gupta
06 Jul, 2011
New York City

U.S. indexes futures traded lower on global economic worries. U.S. mortgage and refinancing activity declined last week. China raised interest rates by 25 basis points to stem the fastest inflation since 2008. Compuware agreed to acquire dynaTrace software for $256 million.

UK Indexes Lower; Retail Inflation Rises 2.9%

Arthi Gupta
06 Jul, 2011
New York City

The UK indexes declined on worries of a contagion in the euro area. The UK retail inflation rose, private sector job growth eased, and home prices climbed in June. New car registrations in the UK decreased 6.2% annually in June.

Japan Stocks in 7-day Rally; Nintendo, Nippon Paper Up

Nigel Thomas
06 Jul, 2011
New York City

The benchmark index Nikkei increased 1.1% and extended gains for the sixth session and broader Topix index added for the seventh session in a row. The Nikkei has rebounded to a loss of 3.4% from the fall of 17% after the March 11 earthquake. Exporters and trading companies led the gainers.

Portuguese, Greek Bonds Yields Rise; German Factory Orders Up

Arthi Gupta
06 Jul, 2011
New York City

The European indexes traded lower after a rating agency downgraded Portuguese bonds to below investment grade. Portugal, second nation after Greece was lowered to junk rating as debt stress mount in the peripheral euro-zone. German factory orders increased, Spanish industrial production fell in May.

Australian Resource Stocks Mixed on Carbon Tax Debate

Marcus Jacob
06 Jul, 2011
New York City

Australian stocks closed higher ahead of the jobs report. Commodities and Australian dollar gained lifting resource linked stocks. Coal miners closed lower on the prospect of carbon tax implementation. Tiger Airways stopped selling tickets meeting regulatory demands.

U.S. Indexes Decline After Early Gains; Portugal Debt Lowered to Junk

Bikram Pandey
05 Jul, 2011
New York City

U.S. stocks closed nearly unchanged as gold and oil rebounded 2%. More than $12 billion worth of deals were announced. Peripheral nations in the euro-zone dominated the market sentiment. Portugal debt rating was lowered to junk status by a rating agency.

U.S. Movers: Energy Transfer, Immucor, NetScout, Torchmark

Mukesh Buch
05 Jul, 2011
New York City

Energy Transfer Equity agreed to acquire Southern Union for $8.9 billion. Immucor agreed to private for $1.97 billion. Johnson Controls completed acquisition of EnergyConnect Group, Inc. Torchmark declared 3-for-2 stock splits.

UK Service Sector Improves; Persimmons, Tullow in Focus

Arthi Gupta
05 Jul, 2011
New York City

The UK indexes edged higher after service sector activity improved marginally and Irish service sector grew in June. Tullow surged 3.1% after estimating revenue of about $1.05 billion for the first-half.

U.S. Indexes Fluctuate; Energy Transfer Acquires Southern Union for $8.9 B

Arthi Gupta
05 Jul, 2011
New York City

U.S. indexes fluctuated after the release of the factory goods orders report. Energy Transfer agreed to acquire Southern Union for $8.9 billion. Immucor to be acquired by TPG Capital for $1.97 billion. Western Union agreed to buy Travelex Global Business Payments for

OECD Inflation at 3.2%; Sweden Lifts Rate to 2%

Arthi Gupta
05 Jul, 2011
New York City

OECD inflation surged in May on high food and energy prices. Private sector activity growth in the euro area slowed in June and retail sales declined 1.1% in May. Swedish central bank hiked key rate by 25 basis points.

Nikkei in 6-day Rally; Positive Regional Economic Survey

Nigel Thomas
05 Jul, 2011
New York City

Stocks in Japan closed higher for the sixth day in a row prompting worries that market rally may not be supported by fundamentals. The latest spurt was driven by the mildly optimistic regional economic survey released by the Bank of Japan.

European Indexes Mixed; TOTAL Raised Stake in Italian Oil Field

Arthi Gupta
05 Jul, 2011
New York City

The European indexes traded sideways as investors focus on the next bailout conditions for Greece. U.S. based OM Group agreed to purchase Vacuumschmelze for

Australian Rate on Hold; Export Surplus Increase to A$2.3 Billion

Marcus Jacob
05 Jul, 2011
New York City

Australian stocks traded lower after the Reserve Bank of Australia left its key lending rate at 4.75% and offered a benign view on inflation. The rate decision was widely anticipated but the outlook on inflation prompted a slower economic expansion outlook for the rest of the year.

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