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Market Update

U.S. Movers: AIG, Cisco, Sprint Nextel, Laclede Group

Mukesh Buch
17 Dec, 2012
New York City

AIG offers to sell $6.5 Billion of AIA shares. Cisco completed acquisition of privately held Cariden Technologies for $141 million. Sprint Nextel wins bid for Clearwire at $2.97 per share. Laclede Group agreed to buy two utilities from Southern Union valued $1.03 billion.

New York Manufacturing Drops, Sprint Completes Clearwire Deal

Arthi Gupta
17 Dec, 2012
New York City

The U.S. indexes gained on renewed optimism on fiscal cliff talks. Sun Life Financial agreed to sell its U.S. annuity business for $1.35 billion. Laclede agreed to acquire two Southern Union utilities in $1.035 billion deal.

Australian Index Falls, Uranium Miners Gain

Marcus Jacob
17 Dec, 2012
New York City

Australian stocks traded mixed and the benchmark index declined on a weakness in bank stocks. Uranium mining linked stocks traded higher after the opposition party was returned to power in Japan that favors restarting of nuclear power plants.

European Indexes Lower, GDF Suez Sells 60% Stake in Canadian Portfolio

Arthi Gupta
17 Dec, 2012
New York City

The European indexes edged lower on disappointing economic data. GDF Suez agreed to sell 60% equity interest in its Canadian renewable generation portfolio for

Euro Area Swings to Trade Surplus, French Economic Activity Falls

Arthi Gupta
17 Dec, 2012
New York City

German manufacturing employment rose, French economic activity declined and Italian trade surplus rebounded in October. Euro zone swung to a trade surplus in October.

Europe Movers: Banco Santander, Telenor, Novartis, KPN, H & M

Arthi Gupta
17 Dec, 2012
New York City

Zurich Insurance estimated aggregate claims net of reinsurance of about $700 million relating to storm Sandy. H & M November group total sales increased 7%. Linde agreed to acquire Calea France.

Stocks Waver, Lawmakers Struggle to Narrow Differences

Bikram Pandey
14 Dec, 2012
New York City

U.S. stocks drifted directionless as lawmakers fail to find a common ground to avoid automatic spending cuts and tax increase set to kick in two weeks. Apple Inc declined 3% and extended losses to 40% from the peak in September as China debut of iPhone 5 failed to impress analysts.

Survey in Japan Show Sharp Decline in Confidence Ahead of Election

Nigel Thomas
14 Dec, 2012
New York City

Stocks in Japan traded near the recent highs and the yen dropped to a 9-month low. Markets have rallied in the last three weeks on the hopes that the main opposition party is likely to win the next general election on Sunday.

Australian Markets Flat; IAG Takes Loss on UK Sale, Caltex Estimates Profit

Marcus Jacob
14 Dec, 2012
New York City

Australian stocks and dollar held ground and a private survey in China showed an improving business climate. APN News Media plunged after it issued profit warning. Caltex Australia estimated to rebound to profit in the current year. IAG plans to take $240 million charge on the sale of a UK unit.

U.S. Movers: Adobe, Nordson, Quiksilver, VeriFone

Mukesh Buch
14 Dec, 2012
New York City

Adobe fourth quarter net surged 28% to $222.3 million as cloud revenue jumped. Nordson fourth quarter net climbed 24% and lifted sales outlook. Quiksilver fourth quarter net tumbled 94% and VeriFone net plunged 86%.

Consumer Price Index Falls, Discovery to Buy SBS Nordic for $1.7 B

Arthi Gupta
14 Dec, 2012
New York City

The U.S. indexes traded higher and a survey of businesses in China indicated economic recovery but the euro zone growth rates are still shrinking. Discovery agreed to acquire SBS Nordic operations for $1.7 billion and PPG to buy the North American coatings business of AkzoNobel for $1 billion.

German Manufacturing Declines, UK Ratings Downgraded

Arthi Gupta
14 Dec, 2012
New York City

The euro zone private sector contraction eased in December. French ratings were affirmed but the UK ratings downgraded to negative. New car registration in the EU slumped in November.

Europe Movers: ABB, AkzoNobel, ArcelorMittal, G4S, UBS, CVS

Arthi Gupta
14 Dec, 2012
New York City

UBS faces a fine of $1 billion in the Libor probe. ABB plans to restructure its power systems division to seek higher returns. G4S agreed to buy South Africa-based Deposita for

UBS in $1 Billion Libor Probe Settlement, World Markets Cautious

Bikram Pandey
13 Dec, 2012
New York City

Stocks on Wall Street turned lower after budget negotiations took a divisive turn and lawmakers struggled to find a compromise. UBS AG is said to face a fine of $1 billion in the Libor probe, the largest so far, as sixteen banks face investigations.

Japanese Bond Yields Slide, Nikkei Surges 1.7% Ahead of Elections

Nigel Thomas
13 Dec, 2012
New York City

Stocks in Tokyo surged and the benchmark Nikkei soared 1.7% to a new 8-month high ahead of general election on Sunday. Defense stocks gained for the second day in row as tensions escalated in disputed territories with China.