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Market Update

Australian Markets Halt 3-Day Rally, BHP Falls After Production Report

Marcus Jacob
18 Jul, 2012
New York City

Stocks in Sydney declined for the first time in four days as investors focused on the weakening global economic outlook. The latest comments from the Fed Chairman Bernanke and the I.M.F. contributed to the weak market sentiment.

U.S. Housing Starts Surged 6.9%, BofA Swings to Profit

Arthi Gupta
18 Jul, 2012
New York City

U.S. indexes traded higher after two separate reports on the housing industry indicated a rebound. Olin agreed to acquire K. A. Steel Chemicals for $328 million. Bank of America swings to profit on higher mortgage loans. BlackRock quarterly net declined 11%.

Earnings Lift European Indexes, Credit Suisse Soars 6%

Arthi Gupta
18 Jul, 2012
New York City

The European indexes gained on better-than-anticipated earnings. Germany raised

HSBC Compliance Chief Resigns at Senate Money Laundering Hearing

Devan Biswas
17 Jul, 2012
New York City

HSBC is facing as much as $1 billion in fines for violating anti-terrorism laws and facilitating money laundering at its Mexican unit and providing access to the U.S. financial system to drug cartels.

Wall Street Rebounds on Earnings, Bernanke Cautious on Outlook

Bikram Pandey
17 Jul, 2012
New York City

U.S. indexes rebounded from the morning losses and commodities closed higher. HSBC faces $1 billion fine for a decade long compliance failure at its U.S. unit. Goldman Sachs looks for other ways to bolster earnings after trading and risk-taking generate weak profits.

UK Inflation at 2.4%, HSBC Faces $1 Billion Fine

Arthi Gupta
17 Jul, 2012
New York City

The UK indexes dropped after inflation eased and home prices rose. HSBC is facing as much as $1 billion in fines for violating anti-terrorism laws. Bank of England Governor denied that the New York Fed gave warnings on rate fixing.

U.S. Movers: Goldman Sachs, Johnson & Johnson, Mattel, Omnicom, Coca-Cola

Mukesh Buch
17 Jul, 2012
New York City

Goldman Sachs net fell 12% to $927 million. Johnson & Johnson second quarter net declined 49.3% to $1.41 billion and Mattel reported second quarter results ahead of expectations. State Street net falls.

U.S. Consumer Prices Flat, Coca Cola Net Falls on Higher Costs

Arthi Gupta
17 Jul, 2012
New York City

U.S. indexes advanced after consumer prices remained unchanged but industrial output rose in June. State Street agreed to acquire Goldman Sachs Administration Services for $550 million. Coca-Cola quarterly earnings declined on higher costs.

IMF Approves

Arthi Gupta
17 Jul, 2012
New York City

The European indexes traded higher and Spanish bond yields fell at the latest debt auction. Rating agency downgraded 13 Italian banks with negative outlook. The IMF approved

Yen Strength Worries Finance Ministry, Aderans in $163 Million Deal

Nigel Thomas
17 Jul, 2012
New York City

Tokyo financial markets closed higher after a 3-day weekend and the yen strengthened prompting another round of tough talks from the finance minister. The IMF lifted its outlook for Japan to 2.4% but cut global economic views.

Australian Rate Cut Hopes Dashed, Rio Production Up 4%

Marcus Jacob
17 Jul, 2012
New York City

Australian indexes closed higher for the third day after the RBA highlighted the economic strength in its latest assessment. The dollar closed higher and investors shifted attention to the next meeting of the central bank on August 7. Rio Tinto said first half iron production increased 4%.

U.S., World Markets Cautious After IMF Trims Outlook

Bikram Pandey
16 Jul, 2012
New York City

U.S. indexes traded sideways as trading volume inched lower and the IMF lowered its global growth outlook. The global lender warned the U.S. to lift its debt limit sooner than later and urged European leaders to accelerate fiscal and banking integration.

U.S. Movers: Citigroup, Gannett, Glaxo, Thermo Fisher, Visa, MasterCard

Mukesh Buch
16 Jul, 2012
New York City

Citigroup second quarter net declined 12% to $2.9 billion and Gannett net plunged 21%. Glaxo offered $3.6 billion for Human Genome. Thermo Fisher agreed to buy One Lambda for $925 million in cash. Visa and MasterCard settle class action lawsuits.

IMF Lowered UK Outlook, GSK in Hostile Offer for Human Genome

Arthi Gupta
16 Jul, 2012
New York City

The UK indexes dipped after home prices fell in July. The International Monetary Fund cut UK growth outlook. GlaxoSmithKline agreed to acquire Human Genome for $14.25 per share. G4S failed to fulfil Olympic contract.

U.S. Retail Sales Fall, Par Pharmaceutical in $1.9 Billion Buyout

Arthi Gupta
16 Jul, 2012
New York City

U.S. indexes edged lower after retail sales fell unexpectedly in June. Par Pharmaceutical inked a merger agreement to be acquired by TPG for $1.9 billion. Thermo Fisher agreed to acquire One Lambda for $925 million in cash.