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Market Update

RBA Lowers Rate to 3%, Australian Current Account Deficit Widens

Marcus Jacob
04 Dec, 2012
New York City

Australian markets halted a 3-day rally and the benchmark index declined 0.6%. Reserve Bank of Australian cut its key lending rate by 25 basis points to 3% and cited global weak economic conditions. Current account deficit widened in the third quarter to $14.9 billion.

Strong Demand Drive Auto Sales, Toll Brothers Revenues Soars 48%

Arthi Gupta
04 Dec, 2012
New York City

U.S. indexes struggled and the dollar inched lower as European markets resumed the advance. November auto sales were ahead of expectations and annual sales are likely to reach record high in the last five years. Atlas Pipeline agreed to acquire Cardinal Midstream for $600 million.

German Exports Improve 3.6%, Baxter to Buy Gambro for $4 Billion

Arthi Gupta
04 Dec, 2012
New York City

Euro zone industrial producer prices eased in October. German exports increased 3.6% in the third quarter. UK construction activity deteriorated and Spanish unemployment rose in November. Baxter agreed to acquire Swedish dialysis products maker.

Europe Movers: BMW, Dexia, Elekta, ICON, Philips, Wolseley

Arthi Gupta
04 Dec, 2012
New York City

Elekta six month net sales rose 22% to SEK 4.18 billion. Wolseley first quarter revenue rose 2.1% to

Republicans Offer $2.2 Trillion Deal, Honda Leads November Auto Sales Advance

Bikram Pandey
03 Dec, 2012
New York City

U.S. indexes closed lower after manufacturing index fell unexpectedly. Republican proposed $1.4 trillion in spending cuts and $800 billion in tax revenues from limiting tax breaks. Auto sales in November were ahead of expectations and Honda led the industry with 39% surge.

Australian Retail Sales Flat and Weak Manufacturing

Marcus Jacob
03 Dec, 2012
New York City

Australian stocks extended gains for the second day in a row after a flood of economic data offered a mixed picture. Manufacturing sector shrank for the eighth month in a row and home prices were flat last month. Retail sales were flat after rising 0.5% in September.

UBS to Settle Libor Probe for $450 Million, Saputo to Buy Morningstar Foods

Arthi Gupta
03 Dec, 2012
New York City

U.S. indexes opened higher and Saputo agreed to acquire Morningstar Foods for $1.45 billion. CSC agreed to sell credit services business to Equifax for $1 billion. UBS is said to near an agreement with American and British regulators to settle rate fixing charges for $450 million.

Weak Euro Area Manufacturing, Greece Announces

Arthi Gupta
03 Dec, 2012
New York City

The European indexes traded higher after a private survey showed improving manufacturing in China. The downturn in the euro zone manufacturing sector eased in November. Greece announced

Europe Movers: Ascent Resources, Cable & Wireless, EADS, Total, UBS

Arthi Gupta
03 Dec, 2012
New York City

Cable & Wireless agreed to sell its Monaco and Islands businesses to Bahrain Telecommunications for $680 million. EADS confirmed plans for potential changes in the company shareholding structure and corporate governance.

Stocks Close Unchanged as Political Rhetoric Notches Up in Washington

Bikram Pandey
30 Nov, 2012
New York City

U.S. dollar inched lower and the euro gained as political rhetoric in Washington ratchet up. Lawmakers show no sign of compromise as the budget negotiation deadline looms. Oil gained and commodities prices edged higher on a cautiously optimistic outlook about economic growth in China.

Best Monthly Gain in Nikkei Since Feb, Yen Falls on New Stimulus Plan

Nigel Thomas
30 Nov, 2012
New York City

Nikkei index in Tokyo advanced after Japanese government approved the $1.2 billion stimulus measures ahead of general elections. Nikkei gained the best monthly gain since February. The yen traded near eight month low. Industrial production rose in October on a surge in electronics parts production.

Australian Index Nears One-Month High

Marcus Jacob
30 Nov, 2012
New York City

Australian stocks opened higher following the gains in Asian and European markets. Banks and resource sector stocks closed up. Qantas said October customer traffic increased 5.9% but revenue per seat declined. Lynas said it started its Malaysian rare earth plant.

U.S. Personal Spending Falls, Income Climbs

Arthi Gupta
30 Nov, 2012
New York City

U.S. indexes traded sideways as lawmakers negotiate budget details. U.S. personal income increased but spending fell in October. Japan announced $10.7 billion of stimulus measures to boost economic growth.

Euro Area Jobless Rate at 11.7%, UK Confidence Soars

Arthi Gupta
30 Nov, 2012
New York City

The euro area jobless rate rose and German retail sales fell in October. Annual inflation in the euro zone eased and UK consumer sentiment soared to an 18-month high in November. Osram plans to reduce 4,700 jobs by 2014.

U.S. Movers: Avago Technologies, Genesco, OmniVision, Ulta Salon

Mukesh Buch
30 Nov, 2012
New York City

Avago Technologies fourth quarter slid 3% to $159 million. Genesco third quarter net surged 57% and lifted outlook. OmniVision second quarter plunged 51%. United Natural Foods first quarter net jumped 42% and Ulta Salon third quarter net soared 43%.