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Market Update

Wall Street Down 2%, CNOOC, Nexen in $15.1 B Deal

Arthi Gupta
23 Jul, 2012
New York City

Wall Street extended global decline and dropped 2%. CNOOC agreed to acquire Canada-based Nexen for $15.1 billion. NRG and GenOn are in a $1.7 billion deal. Talisman Energy sells 49% equity interest in UK North Sea Assets. DigitalGlobe and GeoEye agreed to merge.

Spanish Worries Sink European Markets 3%

Arthi Gupta
23 Jul, 2012
New York City

Market indexes in Germany and France plunged more than 3% as Spanish yield soared to a new record. The indexes in Madrid plunged 3.8% and in Italy dropped 5%. Spain lowered economic outlook for next year. China-based Citic agreed to buy CLSA from Credit Agricole for $1.25 billion.

Third Quarterly Decline in Spain, Swiss M3 Growth Improves

Arthi Gupta
23 Jul, 2012
New York City

The Spanish economy contracted for the third quarter in a row. Swiss broad money supply growth rose and Luxembourg''s unemployment rate remained unchanged in June. Danish consumer confidence strengthened in July.

Indexes in New York, Europe Fall as Spain Leads List of Worries

Bikram Pandey
20 Jul, 2012
New York City

Wall Street losses accelerated after technology and financial sectors led the decliners. Euro zone worries contributed to weak earnings from financials. Commodities halted two week rally and the oil declined for the first time in nine days.

Weakness in Financials, Insurance Sectors Drag Nikkei Lower 1.4%

Nigel Thomas
20 Jul, 2012
New York City

Stocks in Tokyo dropped on Friday and the Nikkei index closed down 3.9% in the week. Insurance and financial services stocks declined after weak economic data from the U.S. Toshiba gained but Yamato Holdings declined.

U.S. Movers: Autoliv, Baker Hughes, Google, Novartis, Travelers Cos.

Mukesh Buch
20 Jul, 2012
New York City

Baker Hughes second quarter net soared 17% to $439 million. Google second quarter net surged 17% to $2.79 billion. Novartis second quarter net flat to $2.73 billion. Travelers Companies second quarter net swung to $499 million profit.

U.S. Movers: BB&T, Chipotle, General Electric, Microsoft, Schlumberger

Mukesh Buch
20 Jul, 2012
New York City

BB&T second quarter net surged 66%. eBay trimmed third quarter earnings guidance. General Electric second quarter net climbed 6.7% to $4 billion and Microsoft second quarter net swung to $492 million loss. Schlumberger second quarter net increased 4% to $1.40 billion.

UK Public Sector Borrowing Rises, Vodafone Revenues Fall 8%

Arthi Gupta
20 Jul, 2012
New York City

The UK indexes declined after public sector net borrowing rose in June. The home price sentiment index dropped in July. Vodafone declined 2.8% on weak first quarter revenues. London and Singapore exchanges are reported to have merger talks.

Wall Street Lower on Euro Zone Worries; Microsoft Swings to Loss

Arthi Gupta
20 Jul, 2012
New York City

U.S. indexes edged lower as euro zone worries mounted. eBay trimmed earnings outlook on $3 billion debt offering impact and Microsoft swung to quarterly loss on hefty goodwill impairment charges.

Australian Indexes Close Lower After Choppy Trading

Marcus Jacob
20 Jul, 2012
New York City

Australian stocks closed lower today in choppy trading and resource stocks closed higher after oil increased for the eighth day in a row. For the week the ASX index increased 2.9%. Ten Network was halted ahead of the sale of its outdoor advertising unit.

Europe Movers: Heineken, KTM, Scania and Sulzer

Arthi Gupta
20 Jul, 2012
New York City

Haldex AB declined 7% after second quarter plunged 85%. Heineken N.V. increased 1% after it agreed to acquire its partner in Singapore based Pacific Breweries. Scania AB added 5% after quarterly net fell 40%, less than expected.

European Indexes Mixed, Spanish Yield Above 7%

Arthi Gupta
20 Jul, 2012
New York City

The European indexes traded lower ahead of the euro area finance ministers conference call. Heineken offered to acquire Fraser & Neave

German PPI Eases, French Leading Index Drops

Arthi Gupta
20 Jul, 2012
New York City

German producer price inflation slowed and Danish retail sales decreased in June. The French leading economic index declined for a second straight month and Dutch consumer spending fell in May.

Weak U.S. Economic Data Overshadow Positive Earnings

Bikram Pandey
19 Jul, 2012
New York City

U.S. indexes were flat after weak batch of economic data overshadowed generally positive earnings. Home sales fell in June and weekly unemployment claims rose. UK retail sales exceeded expectations and German lawmakers approved Spanish bailout with conditions.

UK Retail Sales Climb, Libor Scandal Scrutiny Widens

Arthi Gupta
19 Jul, 2012
New York City

The UK indexes were nearly flat as regulators around the world widen the Libor scandal investigation. UK gross mortgage lending declined but retail sales increased in June. Kingfisher slumped 2.6% on weak outlook.