ticker

German Court Ratifies ESM with Two Conditions

Arthi Gupta
12 Sep, 2012
New York City

The European indexes gained after a German court ratified the European Stability Mechanism. Italy raised

Fed Speculation Drives Markets; Citi to Take $2.9 B Charge for Smith Barney

Bikram Pandey
11 Sep, 2012
New York City

U.S. and European markets rallied and the euro neared four-month high on the growing expectation of another round of stimulus. U.S. trade deficit was stable after exports decreased and lower oil price cut the import bill. Morgan Stanley and Citigroup agreed on $13.5 billion value for Smith Barney.

Nikkei Declines 0.7%, Panasonic Debt Rating Cut

Nigel Thomas
11 Sep, 2012
New York City

Stocks in Tokyo trading were on the defensive after China reported weak economic data and U.S. employment rebound was less than expected. Electronic chip-equipment makers declined after Intel lowered its annual view.

Australian Markets Halt 3-Day Rally

Marcus Jacob
11 Sep, 2012
New York City

Australian stocks declined after a 3-day rally ahead of fate of the German court ruling. Mining companies closed mixed and iron ore prices rose to $95 a ton. CSL Limited won a U.S. government contract for influenza pandemic preparedness.

U.S. Movers: Casey

Mukesh Buch
11 Sep, 2012
New York City

Casey

Markets Extend Gains, U.S. Trade Deficit Flat

Arthi Gupta
11 Sep, 2012
New York City

U.S. indexes extend gains ahead of the Fed meeting. U.S. trade deficit rose slightly in July. The U.S. Treasury priced AIG stock at $32.50 per share. The OECD unemployment rate increased slightly in July.

Europe Movers: Ashmore, Burberry, Deutsche Bank, Philips

Arthi Gupta
11 Sep, 2012
New York City

Ashmore full year pre-tax profit fell to

Euro Nears 4-Month High on German Ruling Optimism

Arthi Gupta
11 Sep, 2012
New York City

The European indexes declined on euro area woes. German wholesale price index rose in August. The UK home prices declined in August and deficit narrowed in July. Philips plans to slash 2,200 positions and lower costs by as much as

UK Confidence at 20-Year Low, Dixons, Marks & Spencer in Focus

Arthi Gupta
10 Sep, 2012
New York City

The UK indexes slid after business confidence plummeted to a 20-year low in August. Shell agreed to sell its 50% working interest in the Holstein Field to Plains Exploration for $560 million. Marks & Spencer Group gained 3% on deal speculation.

Japan Lowers GDP Growth to 0.2%, Current Account Surplus Narrows

Nigel Thomas
10 Sep, 2012
New York City

Stocks in Tokyo trading were on the defensive after China reported weak economic data and U.S. employment rebound was less than expected. Japan lowered its June quarter economic growth to 0.2%. Electronic chip-equipment makers declined after Intel lowered its annual view.

BP to Sell $5.6 B of Gulf of Mexico Assets, China Faces Slowdown

Arthi Gupta
10 Sep, 2012
New York City

U.S. indexes traded lower after weaker-than-estimated Chinese economic data. BP agreed to sell its non-strategic Gulf of Mexico assets to Plains Exploration for $5.55 billion. Garda agreed to be acquired by consortium for C$1.1 billion.

Fed Measures Awaited, Greece in Focus

Bikram Pandey
10 Sep, 2012
New York City

Investors were on the sideline after the market surge last week and ahead of the Fed meeting mid-week. Markets have built up expectations of another round of stimulus. Greece regained focus after coalition members failed to agree on spending cuts demanded by lenders.

U.S. Movers: AIG, Infosys, Plains Exploration, Titan Machinery

Mukesh Buch
10 Sep, 2012
New York City

U.S. Treasury plans to cut its stake in AIG and raise $18 billion in a public offering. Infosys agreed to acquire a Zurich based Lodestone $349 million in cash. Optical Cable surged on net jumped. Plains Exploration agreed to buy US Gulf assets from BP for $5.55 billion.

Miners Cut Jobs in Australia

Marcus Jacob
10 Sep, 2012
New York City

Australian stocks were directionless in trading after China reported monthly imports declined. Xstrata and BHP Billiton announce job cuts totaling 900 positions. Qantas made a case for its international alliance with Dubai based Emirates.

Euro Confidence Recovers, Italian Contraction Revised Deeper

Arthi Gupta
10 Sep, 2012
New York City

Investor confidence in the euro area strengthened in September. Greek production fell in July and Italian economy contracted 0.8% in the second quarter.

Market Update