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Market Update

Treasury to Exit General Motors; Housing Starts Decline but Permits Rise

Arthi Gupta
19 Dec, 2012
New York City

Housing starts fell in November but new building permits and indication of future construction rose. Markel agreed to acquire Alterra for $3.13 billion. Oracle profit rose 18% but FedEx earnings declined 12% in the second quarter.

Nikkei Soars 2.4% on Stimulus Talks and BoJ Expectations

Nigel Thomas
19 Dec, 2012
New York City

The Nikkei index soared 2.4% and crossed 10,000 on the expectations of stimulus budget of as much as $110 billion and the Bank of Japan starts a two-day meeting under an intense political pressure to purse easier monetary policy.

Greek Ratings Upgraded, UBS Settles Libor Probe for $1.5 B

Arthi Gupta
19 Dec, 2012
New York City

The European indexes gained after a rating agency upgraded Greek credit. UBS estimates loss in the fourth quarter on litigation and regulatory charges.

Australian Index Retain Positive Momentum

Marcus Jacob
19 Dec, 2012
New York City

Australian benchmark index closed higher on the rising international markets and improving economic outlook in the euro zone and positive undertone in the U.S. budget negotiations. Resource sector stocks gained after iron prices improved to a 3-month high.

Euro Zone Construction Declines 1.6%, German Confidence Improves

Arthi Gupta
19 Dec, 2012
New York City

Euro area construction output declined in October. German business confidence improved more than anticipated in December. The Dutch economy is set to contract this and next year.

Europe Movers: Axa, freenet, DSM, TUI, UBS, Merck, Swiss Re

Arthi Gupta
19 Dec, 2012
New York City

DSM completed its acquisition of Fortitech for

U.S. Movers: Diamond Foods, FactSet, Jefferies, Sanderson Farms

Mukesh Buch
18 Dec, 2012
New York City

Diamond Foods first quarter net swung to loss as sales declined and FactSet Research first quarter net jumped 9% to $49.8 million and Jefferies Group fourth quarter net surged 48% to $71.6 million. Sanderson Farms fourth quarter net swung to profit.

UK Inflation at 2.7%, IMF Approves $1.17 B Disbursement for Ireland

Arthi Gupta
18 Dec, 2012
New York City

The UK annual inflation remained unchanged at 2.7% in November and home prices increased in October. Irish economy expanded in the third quarter. Rolls-Royce won a $1 billion contract from Japan-based Skymark Airlines.

U.S. Current Account Deficit Narrows, Budget Talks Progress

Arthi Gupta
18 Dec, 2012
New York City

U.S. current-account deficit narrowed in the third quarter. ConocoPhillips agreed to sell its Algerian business unit for $1.75 billion. Coca-Cola Enterprises affirmed full-year earnings guidance.

Spain Raises

Arthi Gupta
18 Dec, 2012
New York City

The European indexes gained on positive developments in fiscal cliff talks. Spain raised

Spanish Bad Loans Surge, Riksbank Slashes Repo Rate

Arthi Gupta
18 Dec, 2012
New York City

Spanish banks'' bad loans ratio reached record levels and Italian current account deficit narrowed in October. Swedish central bank cut its key interest rate by 25 basis points.

Europe Movers: Air Berlin, Allianz, Petrofac, Royal Imtech

Arthi Gupta
18 Dec, 2012
New York City

Allianz agreed to pay more than $12.3 million to settle SEC charges. Gerresheimer acquires Indian pharma plastic packaging manufacturer Triveni. Petrofac expects to deliver net profit growth of at least 15% in 2012.

Budget Talks Optimism Boosts U.S. Stocks

Bikram Pandey
17 Dec, 2012
New York City

Stocks on Wall Street gained on the progress in budget negotiations however lawmakers cautioned that a deal may be sealed next month. Commodities gained and the dollar eased. Liberal Democratic Party returned to power after five years lifting hopes for policy actions.

UK Home Prices Fall, BP Sells Stake in Sean Gas Field

Arthi Gupta
17 Dec, 2012
New York City

The UK indexes dropped after home prices fell in December. BP plc agreed to sell its interest in the Sean gas field to SSE for $288 million. AVEVA acquired Global Majic

LDP Reclaims Power in Japan; Yen at 20-Month Low, Tepco Surges 33%

Nigel Thomas
17 Dec, 2012
New York City

The opposition Liberal Democratic Party was voted with super majority in a general election in Japan. Nikkei index gained 0.9% and reached a new 8-month high and electric utilities surged. Tepco soared 33%. The yen declined to 20-month low.