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Market Update

Australian Jobless Rate Falls to 5.1%, Qantas and Emirates in Alliance

Marcus Jacob
06 Sep, 2012
New York City

Australian unemployment rate declined to 5.1% in August but worker participation rate fell as younger people find it difficult to gain jobs outside the mining sector. Qantas sealed its alliance with Dubai based Emirates and Lynas won a temporary approval to start its refinery in Malaysia.

Europe Movers: Generali, Bayer, Merck, Nokia

Arthi Gupta
06 Sep, 2012
New York City

IAG and Qantas have agreed to terminate their joint business. Generali agreed to sell its entire 69.13% stake in Migdal for

Rates on Hold, ECB to Buy Unlimited Euro Zone Bonds

Arthi Gupta
06 Sep, 2012
New York City

European Central Bank left its key lending rate unchanged and announced a plan to buy unlimited amount of government bonds. The widely expected move dragged the yields of Spain and Italian bonds lower and lifted market indexes. Generali agreed to sell its stake in Migdal for

EU Productivity Declines, Greek Jobless Rate at 24.4%

Arthi Gupta
06 Sep, 2012
New York City

The euro zone economy contracted in the second quarter. German factory orders rose more than estimated in July and record jobless rate in Greece in June. Riksbank unexpectedly lowered repo rate by 25 basis points.

World Markets on Hold Ahead of the ECB Decision

Bikram Pandey
05 Sep, 2012
New York City

U.S. and world indexes were on hold ahead of the policy decision from the European Central Bank. Economies of euro zone contracted for the seventh month in a row and Chinese manufacturing is expected to fall to a 3-year low annual rate. Safeway Inc plans to sell its stake in a gift card company.

UK Shop Price Inflation, Service Sector Activity Improves

Arthi Gupta
05 Sep, 2012
New York City

The UK indexes drifted lower after shop price inflation rose marginally and service sector activity improved in August. Irish service sector activity rebounded and the UK foreign currency reserves increased in August. BP Plc faces gross negligence charges in the Gulf of Mexico oil spill.

U.S. Movers: Conn

Mukesh Buch
05 Sep, 2012
New York City

Conn

U.S. Productivity Climbs, FedEx Lowers Outlook

Arthi Gupta
05 Sep, 2012
New York City

U.S. indexes declined after labor productivity rose more than estimated in the second quarter. FedEx lowered first quarter earnings outlook. General Cable completed the acquisition of the North American portion of Alcan Cable for $151 million.

Nikkei in 5-Day Slump, Automakers Fall

Nigel Thomas
05 Sep, 2012
New York City

Stocks in Tokyo closed lower for the fifth day in a row and closed at a five-week low after weak manufacturing and construction data in the U.S. confirmed global economic slowdown. Toyota, Honda and Nissan edged lower after missing U.S. auto sales target in August.

Australian GDP Growth Declines to 0.6%

Marcus Jacob
05 Sep, 2012
New York City

Australian GDP growth in the June quarter fell to 0.6% after rising at 1.4% in the previous quarter. The economy is expected to slow further in the second half as the iron price drop to a 3-year low.

Euro Zone Output Contracts, Retail Sales Drop

Arthi Gupta
05 Sep, 2012
New York City

Euro zone economic downturn continued in August, as output contracted in Germany, France, Italy and Spain. Swiss consumer prices fell in August and retail sales in the euro zone declined in July.

Europe Movers: BASF, BMW, Deutsche Bank, ING, Richemont

Arthi Gupta
05 Sep, 2012
New York City

Richemont confirmed operating profit for the six months to be around 20% to 40% higher than last year. BMW U.S. vehicle sales declined in August. Schneider disposed AXA stake for

European Indexes Sideways, German Auction Falls Short of Target

Arthi Gupta
05 Sep, 2012
New York City

The European indexes traded sideways ahead of the ECB policy meeting tomorrow. Germany sold

Afternoon Rebound Pares Market Losses, Strong Rebound in Auto Sales

Bikram Pandey
04 Sep, 2012
New York City

U.S. indexes reversed earlier losses on a rally in tech stocks. Construction spending fell and factory activities, orders and employment fell in August confirming worldwide slowdown. GM auto sales in August increase 10% and Toyota sales jump 46%.

U.S. Movers: Campbell Soup, Heckmann, Quanex, Valeant Pharmaceuticals

Mukesh Buch
04 Sep, 2012
New York City

Campbell Soup net jumped 27% and issued fiscal guidance. Heckmann to buy Power Fuels total valued approx $370 million. Smithfield Foods net declined 25%. Valeant Pharmaceuticals to acquire Medicis Pharmaceutical for $2.6 billion in cash.