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Market Update

U.S. Indexes Close at Day's High

Devan Biswas
15 Oct, 2012
New York City

U.S. indexes closed at the high of the day after retail sales were ahead of expectations confirming the slow economic recovery in place. Softbank agreed to pay $20 billion to acquire 70% stake in Sprint Nextel. Latest trade data from China lifted Asian markets.

UK Home Prices Rise 3.5%, FTSE in Slight Rebound

Arthi Gupta
15 Oct, 2012
New York City

The UK indexes advanced after home prices increased in October and gross domestic product is estimated to drop 0.2% this year. Santander UK withdrew out of its agreed purchase of 316 RBS branches valued at

Softbank to Acquire 70% Stake in Sprint Nextel for $20 Billion

Arthi Gupta
15 Oct, 2012
New York City

SoftBank agreed to acquire 70% stake in Sprint Nextel in a complex deal that will offer $8 billion investment in the company and $12.1 billion to current shareholders.

U.S. Retail Sales Rise 1.1%, Citigroup Net Plunges 88%

Arthi Gupta
15 Oct, 2012
New York City

U.S. indexes gained after retail sales rose more than estimated in September. Softbank agreed to acquire a 70% stake in Sprint Nextel for $20.1 billion. Citigroup earnings plummet but beat estimates.

European Markets Advanced on Chinese Economic Data

Arthi Gupta
15 Oct, 2012
New York City

The European indexes rose on better than estimated Chinese economic data. Greek premier Samaras optimistic on securing the next tranche of bailout fund soon. ITT agreed to acquire Bornemann Pumps for

Greek Import Price Inflation Rises, Czech Deficit Widens

Arthi Gupta
15 Oct, 2012
New York City

Greek import price inflation rose and Czech current account deficit widened in August. Swiss producer and import price climbed in September.

Europe Movers: Clariant, Fiat Industrial, H & M, Norsk Hydro

Arthi Gupta
15 Oct, 2012
New York City

CNH Global rebuffs Fiat''s buyout proposal as inadequate. H & M September total sales increased 15%. Hydro and Orkla agreed to form the largest aluminum solutions provider.

Wall Street Indexes in Worst Weekly Decline in Four Months

Bikram Pandey
12 Oct, 2012
New York City

Stocks on Wall Street declined in choppy trading on earnings worries and ongoing sovereign debt crisis in the euro zone. For the week, the S&P 500 index declined 2.2% and the Nasdaq Composite index fell 2.9%. U.S. Treasury said fiscal 2012 deficit declined to $1.089 trillion.

U.S. Producer Prices Rise; JPMorgan, Wells Fargo Earnings Up

Arthi Gupta
12 Oct, 2012
New York City

U.S. indexes rose after JPMorgan and Wells Fargo reported upbeat earnings. U.S producer prices rose in September. Ecolab agreed to acquire Champion Technologies for $2.2 billion. Ares Management to acquire majority stake in Smart & Final for $975 million.

European Production Climbs, UK Construction Output Slumps 11.6%

Arthi Gupta
12 Oct, 2012
New York City

The European indexes declined after the euro zone production rose unexpectedly and UK construction output slumped in August. Spanish and Italian yields fell.

Europe Movers: Telef

Arthi Gupta
12 Oct, 2012
New York City

Telef

Stocks on Wall Street Ease, SoftBank Pursues Sprint

Maureen Salinas
11 Oct, 2012
New York City

Crude oil jumped after Turkey forced Air Syria fight with 35 passengers to land in Ankara and claimed it found Russian military equipment and armament. SoftBank is reportedly in discussion with SprintNextel that may lead to a $15 billion deal.

U.S. Jobless Claims Slump, Trade Deficit Widens

Arthi Gupta
11 Oct, 2012
New York City

U.S. indexes climbed after jobless claims decreased 30,000 to 339,000, trade deficit widened in August and foreclosure filings declined in the third quarter. Wal-Mart targeted sales increase between 5% and 7% in fiscal 2014.

Telenor Dissolves India Venture Before Wireless Auction

Arthi Gupta
11 Oct, 2012
New York City

Telenor ASA, the Norway-based telecommunication company said it has reached an agreement with its Indian wireless joint venture partner Unitech Ltd. to amicably settle all disputes between the two parties.

European Markets Jump, Spanish Debt Downgraded

Arthi Gupta
11 Oct, 2012
New York City

The European indexes gained more than 1% and Spanish debt was downgraded to near junk level. Italian three-year bond yields rise in auction. German consumer prices climbed in September and Greek jobless rate rose to a new record in July.