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Market Update

Italian Premier Monti Resigns, German Trade Surplus Shrinks

Arthi Gupta
10 Dec, 2012
New York City

The European indexes traded sideways after Italian premier Mario Monti resigned ahead of schedule. The euro zone investor confidence improved in December and Greek output rose in October. The Italian economy contracted in the third quarter, fifth quarterly shrinkage in a row.

Europe Movers: Air France-KLM, Basilea, STMicroelectronics

Arthi Gupta
10 Dec, 2012
New York City

STMicroelectronics decided to exit ST-Ericsson. Air France-KLM traffic rose 2.2% and BMW worldwide sales increased 26.4% in November. Rentokil completed acquisition of Western Exterminator Company and Eden Advanced Pest Technologies.

U.S. Jobless Rate Drops to 7.7%, Nonfarm Payrolls Rise

Arthi Gupta
07 Dec, 2012
New York City

U.S. indexes traded down on global economic slowdown worries. Yara agreed to acquire Bunge

German 2013 Growth Outlook Lowered, UK Output Falls

Arthi Gupta
07 Dec, 2012
New York City

The European indexes traded sideways. The Bundesbank lowered German growth outlook for 2013. The Greek economy contracted in the third quarter and the UK output fell in October. GDF reduces stake in IP Maestrale.

Europe Movers: Prada, Telecom Italia, Daimler, Deutsche Telekom, Publicis

Arthi Gupta
07 Dec, 2012
New York City

Daimler sold a 7.5%-stake in EADS for about

Wall Street Flat, ECB Cuts Growth Target; Apple Rebounds 1%

Bikram Pandey
06 Dec, 2012
New York City

U.S. indexes traded higher as the prospect of budget negotiation settlement rose. The number of foreclosure sale continues to drop to 19% of all sales across the nation in the third quarter. European Central Bank left its main rate at 0.75% and cut its estimate of growth to 0.3% in the euro zone.

U.S. Jobless Claims Drop, Fiscal Cliff Worries Linger

Arthi Gupta
06 Dec, 2012
New York City

U.S. indexes dropped on fiscal cliff worries and foreclosure sales fell in the third quarter and jobless claims declined 25,000 to 370,000. European central banks held key rates.

Rates in Europe, UK on Hold, Euro Area in Recession

Arthi Gupta
06 Dec, 2012
New York City

Central banks in Europe hold key rates. The euro area economy slipped into recession in the third quarter. German factory orders rebound and UK trade deficit widened in October. Greek jobless rate rose to record levels in September.

Europe Movers: Air Berlin, Barclays, EADS, Micro Focus, Standard Chartered

Arthi Gupta
06 Dec, 2012
New York City

Air Berlin capacity utilization rose in November. Barclays increased its stake in the Absa Group to 62.3%. Micro Focus first-half net fell 2.7% to $60.65 million. Carl Zeiss Meditec annual revenue climbed 13.6% to

World Markets Scale Higher, Citigroup to Eliminate 11,000 Jobs

Bikram Pandey
05 Dec, 2012
New York City

U.S. indexes traded higher after President Barack Obama said budget negotiations can we wrapped in a week. Service sector expanded at a faster pace and manufacturing stabilized. Citigroup announced a plan to eliminate 11,000 positions and take $1 billion charge.

Australian Economic Growth Falls to 0.5%

Marcus Jacob
05 Dec, 2012
New York City

Australian economic growth in September quarter declined to 0.5% after household consumption and housing investment growth fell. Banks passed on full 25 basis points decline in rates to consumers.

U.S. Private Sector Adds 118,000 Jobs, Labor Productivity Soars

Arthi Gupta
05 Dec, 2012
New York City

U.S. private sector employment increased less than estimated in November and labor productivity rose in the third quarter. Lowe''s reiterated sales and earnings guidance for the fiscal year. RioCan agreed to acquire a $1.1 billion portfolio of Canadian retail properties.

Euro Zone Retail Sales Fall, Private Sector Activity Declines

Arthi Gupta
05 Dec, 2012
New York City

Euro zone retail sales decreased in October and private sector activity downturn continued in November. The UK service sector activity dipped in November. The Spanish Treasury raised

Europe Movers: AstraZeneca, HSBC, Nokia, Rio Tinto, Tesco

Arthi Gupta
05 Dec, 2012
New York City

HSBC to sell its entire stake in Ping An Insurance for $9.4 billion. Nokia launched Lumia 920T in China. Tesco third quarter group sales increased 2.4%.

U.S. Indexes Trade Lower, Obama Demands More Taxes from Rich

Bikram Pandey
04 Dec, 2012
New York City

U.S. indexes traded lower and President Obama demanded more tax revenues from rich tax payers. November auto sales rose and analysts lifted industry annual outlook. Australian central bank lowered its key rate to 3%.