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Divided EU Leaders Face More Cuts in Spending

Maureen Salinas
23 Nov, 2012
New York City

European markets were generally flat after leaders of 27 nations failed to finalize next seven year budget from 2014. Germany, UK, Sweden and Holland are pushing for larger cuts in expenses including popular farm subsidies and European officials pay.

Euro Zone Faces Deeper Downturn, Glencore Wins Approval for Xstrata Merger

Nichole Harper
22 Nov, 2012
New York City

European markets jumped and service sector conditions dropped to a 3-year low. Germany and France are struggling with shrinking orders books and the weakening sentiment in the business communities. SABMiller after first-half net income increased 17%.

Australian Stocks Gain 1% on China Manufacturing Data

Marcus Jacob
22 Nov, 2012
New York City

Australian indexes gained 1% after resource stocks gained after manufacturing index expanded to the highest rate in 13-month. Goodman Fielder said it is on track to achieve its annual savings of $100 million. Lynas said its Malaysian processing plant is scheduled to reach full-capacity next month.

Nikkei Surges 1.6% to Reach 6-Month High, Yen at New 7-Month Low

Nigel Thomas
22 Nov, 2012
New York City

Nikkei index in Japan surged to a six-month high as the yen hit a new seven-month low. Investors have bid up stocks ahead of general elections on the hopes that the new government may put more pressure on central bank to offer more stimulus measures.

U.S. Movers: Best Buy, Deere, Donaldson, News Corp, Salesforce.com

Mukesh Buch
21 Nov, 2012
New York City

Best Buy third quarter net swung to loss as revenue declined. Deere & Co fourth quarter increased 3% and lifted outlook. Donaldson first quarter net declined 21% and Heinz second quarter net climbed 13%. News Corp agreed to acquire 49% stake in YES Network.

Nikkei at 2-Month High, Fifth Monthly Decline in Exports

Nigel Thomas
21 Nov, 2012
New York City

Stock in Japan traded higher after the yen closed at a 7-month low. Japan reported its fourth monthly trade deficit in a row and exports fell for the fifth month on weak global economic conditions and a diplomatic dispute with China.

U.S. Jobless Claims Decline, Greek Saga Continues

Arthi Gupta
21 Nov, 2012
New York City

U.S. indexes declined after European leaders postponed the release of next tranche of Greek bailout to next week. U.S. weekly jobless claims fell 41,000 to 410,000.

Greek Deadlock Continues, UK Deficit Widens

Arthi Gupta
21 Nov, 2012
New York City

The European indexes edged lower after the euro area finance ministers postponed the release of bailout fund to next Monday. German leading economic index climbed in September and UK public sector net borrowing rose in October.

Europe Movers: BASF, Intermediate Capital, Novartis, Suedzucker

Arthi Gupta
21 Nov, 2012
New York City

BASF plans to acquire Pronova BioPharma. Nokia completed the acquisition of earthmine. Intermediate Capital said first-half pre-tax profit fell 64% to

Choppy Trading in New York, Bernanke Urges Congress to Act

Bikram Pandey
20 Nov, 2012
New York City

U.S. stocks closed mixed after a volatile session. Fed Chairman Bernanke stepped up pressure on the Congress to act to avoid fiscal cliff. Hewlett Packard plunged 12% after the latest accounting blunder raised effectiveness of the company board.

Nikkei Halts 4-Day Rally, Shippers Rally on Freight Rate Outlook

Nigel Thomas
20 Nov, 2012
New York City

Nikkei index in Tokyo traded down 0.1% after rallying 5.7% in four session and the yen strengthened after falling to a 7-month low. Shipping companies advanced after Baltic Dry Index gained for the seventh day in a row.

Virgin Australia Retained Profit Outlook, Monadelphous Estimates Higher Net

Marcus Jacob
20 Nov, 2012
New York City

Australian stocks extended gains for the second day and the dollar eased. Resource companies led the advance on the back of rising commodities prices. Monadelphous guided 40% increase in first half sales and 25% increase in current year earnings. Virgin Australia held its profit outlook.

Housing Starts Surge, HP Takes $8.8 Billion Charge on Autonomy

Arthi Gupta
20 Nov, 2012
New York City

U.S. indexes struggled and housing starts surged to the highest rate in more than four years. HP swung to quarterly loss and blamed fraud at its $8.8 billion acquisition of Autonomy last year. Memorial Production agreed to buy oil and gas producing properties from Rise Energy for $271 million.

U.S. Movers: Agilent, Campbell Soup, Chico

Mukesh Buch
20 Nov, 2012
New York City

Agilent Technologies fourth quarter net climbed 47% and Campbell Soup first quarter net slumped 8%. Chico

French Debt Downgraded, Spain Raises

Arthi Gupta
20 Nov, 2012
New York City

The European indexes traded sideways after French debt ratings were cut. Spain raised

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