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World Markets Slide as Fiscal Cliff Looms

Bikram Pandey
28 Dec, 2012
New York City

U.S. indexes extended losses for the fifth day in a row as fiscal cliff is away three days. Market indexes dropped 1% as lawmakers gather for one last time to narrow budget differences. Crude oil price gained and base metal prices inched higher.

Washington Gridlock Drags Indexes for Fifth Day

Nichole Harper
28 Dec, 2012
New York City

U.S. stocks suffer broad losses after Washington gridlock showed no sign of easing. President Barack Obama and congressional leaders are gathering in the White House to avert fiscal cliff that could cut off jobless benefits and delay filing of tax returns for millions of people.

French Economic Growth Lowered to 0.1%, Spanish Retail Sales Fall

Nigel Thomas
28 Dec, 2012
New York City

UK store visits on Boxing Day barely increased 0.6%. French economic growth in the third quarter was lowered to 0.1%. Unemployed persons in France increased in November. Italy completed

Italy Sells

Barry Randall
28 Dec, 2012
New York City

European markets traded lower on the worries that the U.S. lawmakers are likely to miss a deadline to settle budget differences. Market indexes in Paris fell 1.4% and in Frankfurt declined 0.6%. Trading volume in the region fell sharply in the session.

Europe Movers: Atari, Bankia, KBC, Vinci

Nigel Thomas
28 Dec, 2012
New York City

Atari, the struggling game maker declined after it estimated fiscal year loss. Bankia, troubled Spanish bank, plunged 22% after it was removed the Spanish benchmark IBEX 35. Belgium based KBC Groep NV agreed to sell its stake in a bank in Slovenia. Vinci SA acquired Portugal controlled ANA.

U.S. Movers: Acorda, Duke Energy, Parexel, Porsche, Berkshire Partners

Mukesh Buch
28 Dec, 2012
New York City

Acorda completed the acquisition of Neuronex Inc. Parexel Intl. agreed to acquire Liquent, Inc. and lifted 2013 outlook. Porsche SE climbed after it won a hedge fund lawsuit. Berkshire Partners invests $2 billion and merge two telecom network providers.

Nikkei Closes 23% Higher in 2012, Best Gain Since 2005

Nigel Thomas
28 Dec, 2012
New York City

The Nikkei index surged 23% in 2012 and its first gain in three years and best annual gain since 2005. The yen declined 12% against the dollar on the hopes that the recently elected government will conduct aggressive stimulus policies and demand Bank of Japan to set 2% inflation target.

Resource Stocks Drive Australian Rally in Third Day

Marcus Jacob
28 Dec, 2012
New York City

Australian stocks extended gain for the third day in a row after resource stocks rallied for the second day. Iron ore prices traded at a 8-month high as demand from China rebounds. Australian dollar drops to a 2-month low.

House to Meet on Sunday, East Coast Dockworkers Threaten a Strike

Bikram Pandey
27 Dec, 2012
New York City

U.S. stocks trim losses after the House of Representatives decide to meet on Sunday. U.S. Treasury Department takes extraordinary steps to raise $200 billion. Dockworkers on the East Coast threaten a strike. The benchmark index in Germany is set to lead advanced markets with annual rise of 30%.

Budget Impasse Saps Confidence and Stocks

Nichole Harper
27 Dec, 2012
New York City

Stocks on Wall Street fell after Senate Majority Leader Harry Reid said budget deal before year-end is unlikely. Marvell Technology plunged after it lost a patent case with $1.17 billion penalty. Confidence index in December fell to the lowest level since August on Washington gridlock.

Europe Movers: Assa Abloy, Bankia, BMW, Clariant, Thomas Cook

Lyubov Smirnova
27 Dec, 2012
New York City

Thomas Cook extends gains on better than expected 2012 revenues. Resource stocks gained in London trading after metals prices trade higher. Bankia plunged 19% after parent company was estimated with negative book value.

DAX Leads Developed Markets Advance with 30% Surge

Barry Randall
27 Dec, 2012
New York City

European markets traded higher and DAX index in Germany is set to lead the regional advance with a surge of 30%. BMW is expected to exceed 2011 profit and Audi unit of Volkswagen plans to spend

Nikkei Crosses Pre-Tsunami Level, Yen Drops Again

Nigel Thomas
27 Dec, 2012
New York City

The Nikkei index extended gains as the yen dropped to a new 2-year low and the newly elected government prepares for aggressive stimulus. The Nikkei surpassed the high on the day before the 2011 earthquake and extended six week rally to 16% and the gains in the year to 22.2%.

Retailers Shine in Sydney Trading, ASX Index Gains

Marcus Jacob
27 Dec, 2012
New York City

Australian stocks gained for the second day in a row as retailers and resource sector stocks led the advance. Fortescue Metals jumped 4% after the company announced a plan to resume Kings deposit expansion in January.

U.S. Movers: Diodes, Matson, Opko Health, Vale SA, ZaZa

Mukesh Buch
27 Dec, 2012
New York City

Diodes agreed to buy BCD Semiconductor for $151 million in cash. Matson agreed to acquire assets of Reef Shipping. Opko Health agreed to acquire Sao Paulo based Silcon Com

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