ticker

U.S. Movers: MBIA, East West Bancorp, Lockheed Martin

Mukesh Buch
30 Dec, 2010
New York City

MBIA Inc soared after two banks withdrew lawsuits. East West Bancorp surged after the bank repaid TARP funds. General Moly, China restricts rare-earth exports. Lockheed Martin won order of $437 million from US Navy. Qwest redeemed outstanding 3.5% convertible notes of approximately $1.1 billion.

UK Home Prices Drop; WPP Acquires Blue State Digital

Arthi Gupta
30 Dec, 2010
New York City

The UK indexes slid after home prices fell for a third straight month in November. WPP Digital agreed to acquire Blue State Digital. Balfour Beatty won infrastructure contracts in Hong Kong worth

European Indexes Slide; Italy Producer Price Inflation Surges

Arthi Gupta
30 Dec, 2010
New York City

The European indexes declined after EuroCoin Indicator climbed in December. Swiss current account surplus improved in the third quarter. Spain current account deficit narrowed in October. Italian manufacturing sentiment rose in December.

U.S. Jobless Claims Fall; U.S. Middle Class Consumer Spending Rebounds

Arthi Gupta
30 Dec, 2010
New York City

U.S. weekly jobless claims declined 34,000. PAA Natural Gas agreed to buy SG Resources Mississippi for $750 million. Boston Properties completed the acquisition of John Hancock Tower for $930 million. A private survey of consumers indicates a sharp rebound in consumer spending in upper middle class.

India Stocks in 2-day Rally; Elevated Inflation

Chandrasekhar Atreya
30 Dec, 2010
New York City

Stocks in Mumbai rallied tracking gains in Asia. Investors are looking for a sustained economic expansion in 2011 as commodities hover near highs for the year. Sensex in the year is up 15%. Food and fuel prices surge in the latest read on inflation.

China Fines 79 Banks and Deems Internet Telephony Providers Illegal

Chandrasekhar Atreya
30 Dec, 2010
New York City

Hong Kong

Nikkei Drops 3% in 2010 as Volumes Drops to 6-year Low

Chandrasekhar Atreya
30 Dec, 2010
New York City

Stocks in Tokyo lost more than 1% after the yen strengthened to a seven-week high. For the year the benchmark index declined 3%. Trading volumes on the Tokyo Stock Exchange is likely to drop for the third year in a row and to six year low.

Heavy Rains Hamper Mining in Australia; Index Down 1.65%

Chandrasekhar Atreya
30 Dec, 2010
New York City

The benchmark index in Australia closed fell 1.65% in the year. A surge in commodities and energy prices lifted the dollar for the eighth day in a row and touched high last seen in 1982. Several mines in Queensland are forced to close production as rains and flooding hamper activities and life

U.S. Stocks Rise on Global Recovery Optimism

Bikram Pandey
29 Dec, 2010
New York City

U.S. indexes closed higher after the dollar edged lower. Crude oil price declined by hovered near 28-month high. Gold and silver traded at 3-decade high. Copper touched intra-day high. Treasury auction of 7-year bonds attracted a strong interest.

U.S. Movers: BJ

Mukesh Buch
29 Dec, 2010
New York City

Resources linked companies edged lower but metals prices held their grounds. Pulse Electronics Corp soared 18% after Bel Fuse Inc expressed an interest in combining two companies. BJ

UK Indexes Fall; Anglo American Invests in Brazil Project

Arthi Gupta
29 Dec, 2010
New York City

The UK indexes fell and housing equity injections increased in the third quarter. Anglo American plc agreed to invest as much as $700 million in an iron ore project in Brazil. Smith & Nephew declined 2% after U.S. regulatory inquiry.

European Indexes Near Two-Year Highs; German CPI Rises

Arthi Gupta
29 Dec, 2010
New York City

The European indexes rose to two-year highs after euro-zone money supply improved in November. German consumer price index climbed 1.7% in December. Spanish retail sales fell and Swedish trade surplus improved in November. Skanska agreed to sell its 50% share in PPP Highway Autopista Central.

World and U.S. Markets at Highs; Groupon to Raise $1 Billion

Arthi Gupta
29 Dec, 2010
New York City

U.S. stock index traded higher as markets in Europe trade near two-year high and Asian markets retained momentum. China cuts rare earth minerals export quota by 35%. Air travel disruption continued on the third day after East Coast snowstorm.

India Estimates Record Grain Crop and Faces Record Food Prices

Chandrasekhar Atreya
29 Dec, 2010
New York City

Stocks in Mumbai surged more than 1% on higher traded volumes ahead of the derivatives contracts expiry on Thursday. Punjab and Sind Bank fixed its public offering price. Record grain harvesting is expected in the current fiscal year surpassig the previous record in 2009.

Tower Australia Recommends $1.76 billion Dai-ichi Life Offer

Chandrasekhar Atreya
29 Dec, 2010
New York City

Australian stock index closed flat as miners fell despite a rise in precious metals prices. Tower Australia recommended $1.76 billion takeover offer from Dai-ichi Life. Rains bring down coal production in Australia and Darlymple Bay Coal terminal suspends operations.

Market Update