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European Markets Decline After Rate-Cut to 1%

Devan Biswas
08 Dec, 2011
New York City

European markets traded lower and small markets fell sharply. The European Central Bank lowered its benchmark rate 25 basis points to 1% and offered longer dated loans and expanded collateral it is willing to accept but failed to increase its bond buying program.

Tokyo Stocks Struggle Near 1-month High; Tepco Drops 11%

Nigel Thomas
08 Dec, 2011
New York City

The Nikkei index in Japan declined ahead of the European summit. Softbank led the net new subscriber additions for the mobile communications services for the 20th month in a row. Freight shipping companies struggled near the 10-year lows. Tokyo Electric dropped on nationalization worries.

Australian Unemployment Inches Up to 5.3%; IAG in Focus

Marcus Jacob
08 Dec, 2011
New York City

Australian stocks edged lower in a broad market weakness. The unemployment rate increased to 5.3% in November as employers cut more than expected full-time positions and added fewer than expected part-time jobs. IAG gains on takeover speculation.

World Markets Waver Ahead of EU Summit and Rate Decision

Bikram Pandey
07 Dec, 2011
New York City

U.S. stocks wavered as investors focused on the 2-day summit of European leaders and a possible rate cut on Thursday by the European Central Bank. Commodities gyrated and bond yields trended higher in New York and Europe. The entire board at Olympus is expected to resign.

U.S. Movers: Citigroup, First Solar, Men's Wearhouse, Monsanto, Talbots

Devan Biswas
07 Dec, 2011
New York City

Citigroup edged lower and banks declined after the third largest bank said it will take $400 million charge and eliminate 4,500 positions. Dollar General said controlling shareholders plan to cut stake to 53.7%. J.C. Penney takes a stake in Martha Stewart Living.

Nikkei Rebounds 1.7%; Mitsui in Oil Tanker Deal

Nigel Thomas
07 Dec, 2011
New York City

The Nikkei index advanced and closed at one-month high following positive sentiment in Asian markets. Trading volume surged and resources linked companies and banks led the gainers. Mitsui O.S.K. agreed to form a joint venture with Danish and Singaporean partners to operate oil supertanker services.

Australian GDP Expands 1% on Construction, Mining Boom

Marcus Jacob
07 Dec, 2011
New York City

Australian stocks resumed the advance after the release of the third quarter economic growth data. The economy expanded 1% in the quarter and surged 2.5% from a year ago quarter on the continued boom in construction and mining sectors.

UK Inflation, Output Drops; Kesa Falls on Loss

Arthi Gupta
07 Dec, 2011
New York City

The UK indexes declined on the worries that more banks may be downgraded. The industrial and manufacturing production in UK declined more than estimated in October and shop price inflation eased to a one-year low in November. Kesa Electricals plunged 7.5%.

U.S. Indexes Ease; Mortgage Refi Applications Rebound

Arthi Gupta
07 Dec, 2011
New York City

The U.S. indexes turned lower ahead of the two-day euro area summit starting tomorrow in Brussels. U.S. mortgage applications rebounded. Citigroup announced to cut 4,500 jobs worldwide.

French Deficit Narrows; German Production Rebounds

Arthi Gupta
07 Dec, 2011
New York City

French trade deficit declined and German industrial production rebounded in October. Swiss jobless rate remained unchanged in November. Norway''s current account surplus rose in the third quarter.

European Indexes Higher; IMF Offers More for Euro Bailout

Arthi Gupta
07 Dec, 2011
New York City

European indexes edged higher ahead of the two-day EU summit and European policymakers contemplate a second bailout fund with $50 billion from the IMF. Germany sold

U.S. Indexes Higher on the Prospect of EU Plans

Bikram Pandey
06 Dec, 2011
New York City

U.S. and European markets traded sideways and metals declined. U.S. indexes followed weak European and Asian markets after a rating agency placed 15 euro zone nations on a rating watch. An independent panel said management at Olympus hid losses of $1.5 billion.

U.S. Movers: 3M, AutoZone, Clearwire, Leap Wireless, Toll Brothers

Mukesh Buch
06 Dec, 2011
New York City

3M Company affirmed its 2011 earnings and anticipated better 2012 outlook. AutoZone first quarter net increased 11% to $191 million. Clearwire plans to raise $300 million in a public offering. Toll Brothers fourth quarter net declined to $15 million.

Nikkei in Tokyo Drops 1.4%; Meiji Plunges on Cesium Scare

Nigel Thomas
06 Dec, 2011
New York City

Stocks and indexes in Tokyo trading fell on the worries that the euro zone summit at the end of the week may not produce intended results. Meiji, the maker of powdered milk recalled 40,000 cans after a radioactive contamination scare.

UK Home Prices, Retail Sales Fall; Wolseley Revenue Up 5%

Arthi Gupta
06 Dec, 2011
New York City

UK indexes traded flat and investors were cautious ahead of the 2-day summit in Europe. Home prices, retail sales and car registrations in the UK declined. BP accused Halliburton of destroying unfavorable results from tests on cement used to plug the well in the Gulf of Mexico.

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