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Stocks Higher on Greek Deal Hopes; RiM Plunges 18%

Arthi Gupta
17 Jun, 2011
New York City

U.S. stocks traded higher as Germany and France inch closer to Greek bailout. RiM dropped 12% after it estimated lower sales and earnings. Capital One agreed to acquire ING Direct for $9 billion. Tata Steel agreed to sell its entire stake in Riversdale to Rio Tinto for $1.1 billion.

Euro-zone Construction Output Declines; Trade Deficit Widens

Arthi Gupta
17 Jun, 2011
New York City

Euro-zone construction output declined and trade deficit widened in April. Europe new passenger car registrations increased in May. Spanish industrial orders and turnover growth rate slowed in April. Austria''s central bank lifted its growth forecast for the year.

Greece Reshuffles Cabinet; ING Direct Fetches $9 Billion

Arthi Gupta
17 Jun, 2011
New York City

The European indexes traded higher after Greek Prime Minister George Papandreou reshuffled his cabinet. ING Groep sold ING Direct to U.S.-based Capital One for $9 billion. The euro area trade balance swung to deficit of

Woodside Delays LNG Shipment; Rio Tinto Gains Control of Riversdale

Marcus Jacob
17 Jun, 2011
New York City

The Australian index edged up on Friday but for the week lost 1.7%. Woodside Petroleum delayed its shipment date from Pluto project and estimated $900 million in higher costs. Rio Tinto gained full control of Riversdale Mining after Tata Steel sold its 26% stake.

U.S. Stocks Struggle, Greek Contagion Worries

Bikram Pandey
16 Jun, 2011
New York City

U.S. stocks meandered as investors digested slightly better news on the jobs and housing market after a string of weak economic data. Greece remained the focus as prime minister sought to unify the nation for austerity measures. India lifted rates for the tenth time in last sixteen months.

U.S. Movers: Actuant, Energy Transfer, MediaMind, Pier 1, Kroger

Mukesh Buch
16 Jun, 2011
New York City

Actuant third quarter net earnings soared 75%. Energy Transfer Equity will acquire Southern Union for $7.9 billion. MediaMind agreed to be acquired by DG FastChannel for $517 million. Pier 1 first quarter net income surged 84%. Kroger first quarter net earnings rose 1.6%.

UK Stocks Slide 1% as Retail Sale Fall 1.4%

Arthi Gupta
16 Jun, 2011
New York City

The UK indexes edged lower on euro debt concerns and political strife in Greece. UK retail sales fell in May. Rolls-Royce secured orders worth over

U.S. Jobless Claims Drop; Energy Transfer to Buy Southern Union

Arthi Gupta
16 Jun, 2011
New York City

U.S. indexes declined after weekly jobless claims fell 16,000 and housing starts rose 3.5% in May. Energy Transfer agreed to buy Southern Union for $7.9 billion. Ford planned addition investment of $500 million to increase engine production in China.

Nikkei in Japan Drops 1.7%

Nigel Thomas
16 Jun, 2011
New York City

Stocks in Japan fell tracking losses in New York and European markets. Greek worries and uneven economic recovery in the U.S. dragged market indexes. Greek troubles intensified as riots broke out in Athens and European leaders struggle to decide the share of losses if Greece defaults on loans.

European Markets Lower on Greek Strife; Demag Agrees to $1.4 Billion Offer

Arthi Gupta
16 Jun, 2011
New York City

The European indexes slumped on ongoing concerns in Greece. Euro-zone annual inflation eased to 2.7% in May. The International Energy Agency lifted global oil demand growth forecast for 2011. U.S. based Terex Corp agreed to acquire Demag Cranes for $1.4 billion.

Australian Index Down 1.9%; Hancock Sells Mines for $2.4 Billion to GVK

Marcus Jacob
16 Jun, 2011
New York City

The Australian index dropped 1.9% following the sharp decline in New York. Asian markets declined more than 1% tracking losses in Europe as focus shifted to Greek troubles. The European leaders and the ECB failed to agree on second bailout terms for Greece.

Euro Area Inflation at 2.7%; Greek Unemployment Soars to 15.9%

Arthi Gupta
16 Jun, 2011
New York City

Euro-zone annual inflation eased in May and employment remained flat in the first quarter. The jobless rate in Greece surged in the first quarter to 15.9%. Switzerland left key rate unchanged at 0.25%. Dutch retail sales improved in April.

U.S. Economy Worries, Greece Strife Drive Dow Down 200 Points

Bikram Pandey
15 Jun, 2011
New York City

World markets traded lower as Greece gained centre stage and U.S. economic worries grew. The rising tensions in peripherals nations and growing evidence of weak economic data knocked the U.S. indexes as low as much as 1.8%. Crude oil falls 4.5% and metals weaken as stocks dive.

UK Jobless Claims Increase; Consumer Sentiment Surges

Arthi Gupta
15 Jun, 2011
New York City

The UK indexes slid after weak economic data from the U.S. and European leaders struggle to chalk out second bailout for Greece. The UK jobless claims increased more than estimated and consumer confidence surged to its highest level in May.

U.S. Movers: Aveo, Clarcor, Ecology, Korn/Ferry, Owens-Illinois

Mukesh Buch
15 Jun, 2011
New York City

Aveo announced pricing of underwritten public offering of 57.5 million shares at $17.50 per share. Clarcor second quarter net earnings improved 37%. Korn/Ferry fourth quarter net income surged 128%. Scotts Miracle-Gro anticipates adjusted earnings $3.10 to $3.20 per share for fiscal year 2011.

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