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Market Update

U.S. Investors Shift Focus to Spain after Greek Election

Arthi Gupta
18 Jun, 2012
New York City

U.S. indexes traded lower as Spanish yields rose to a record high. A pro-bailout party won majority of seats but not enough to form a government in Greece. The closely watched election failed to give majority to any party and the new government is expected to demand for bailout reliefs.

Greece Elections Soothe Market Jitters, Spanish Yield at 7.14%

Arthi Gupta
18 Jun, 2012
New York City

The European indexes rose after pro-bailout party won elections in Greece. Rising Spanish and Italian yields have dampened investor sentiment. A leading indicator of the French economy fell in April. U.S.-based Molson Coors completed its acquisition of StarBev for

UK and Bank of England Take Emergency Steps

Arthi Gupta
15 Jun, 2012
New York City

The UK indexes rose and deficit widened and construction output fell in April. Hong Kong Exchange parent agreed to acquire London Metal Exchange for

Bank of Japan Holds Rates, Nikkei in Weekly 1.2% Rise

Nigel Thomas
15 Jun, 2012
New York City

Stocks in Japan were flat and the Nikkei index in the week closed up 1.2% and extended gains for the second week in a row. Bank of Japan held its target interest rate and asset purchase program and investors look for a coordinated action from the central banks around the world.

U.S. Indexes Futures Rise as Central Bankers Step Up Actions

Arthi Gupta
15 Jun, 2012
New York City

U.S. indexes futures traded higher after central banks took preemptive steps to thwart liquidity crunch. The Bank of Japan left its key rate unchanged, the Swiss National Bank said it will act to arrest sudden surges in the franc and the Bank of England offered additional liquidity.

Australian Dollar Drifts Above Parity, Echo to Raise $454 Million

Marcus Jacob
15 Jun, 2012
New York City

Nervous traders stayed on sidelines as Greek election approach and G20 leaders gather next week to discuss global economy. The Australian dollar drifted back to parity for the first time in six weeks. Echo Entertainment plans to raise $454 million.

Euro Area Employment, Surplus Fall; Swedish Unemployment Drops

Arthi Gupta
15 Jun, 2012
New York City

The euro area trade surplus fell and Hungarian production decreased at a faster pace in April. Employment in the euro area declined in the first quarter. European new car registrations extended decline for the second month.

European Central Banks Prepare for Greek Outcomes

Arthi Gupta
15 Jun, 2012
New York City

The European indexes gained on hopes of a coordinated joint action from central banks. Ratings agency downgraded five Dutch banking groups. Carrefour agreed to sell its ownership in the Carrefour Marinopoulos joint venture.

Speculation on Fed Action Drives U.S. Stocks Higher, Global Markets Rest

Bikram Pandey
14 Jun, 2012
New York City

Stocks rallied and U.S. indexes advanced more than 0.7% as speculation about central bank actions mounted after the release of latest inflation data. Crude oil and gold gained. European indexes fell as trading volume dried up ahead of Greek election. Foreign investors in Japan switched to bonds.

U.S. Movers: Korn-Ferry, Pier 1 Imports, Kroger, Quest Software

Mukesh Buch
14 Jun, 2012
New York City

Korn/Ferry fourth quarter slumped 41% and Pier 1 Imports first quarter net grew and lifted its fiscal outlook. Kroger first quarter net gained 1.6% to $439.4 million. Quest Software received proposal to acquire for $25.50 per share of common stock in cash.

European Markets on Alert as Spanish Yield Cross 7%, Nokia Plunges

Devan Biswas
14 Jun, 2012
New York City

European markets traded lower as a growing vortex of worries and uncertainties dragged market sentiment lower. Yields on Spanish 10-year bonds crossed the unsustainable 7% and Italian bond yields rose at the latest auction. Spanish home prices fell at the fastest pace in three years.

U.S. Weekly Jobless Claims Up, Consumer Prices Decline

Arthi Gupta
14 Jun, 2012
New York City

U.S. indexes gained after weekly jobless claims rose 6,000 to 386,000 and consumer prices fell 0.3% in May. The euro area contagion worries notched up after Spanish 10-year yield crossed 7% and Italian yields rose. Nokia plans to slash 10,000 jobs.

Nikkei in Tokyo Declines, Foreign Investors Switch to Japanese Bonds

Nigel Thomas
14 Jun, 2012
New York City

Japanese stocks extended losses as foreign investors sold stocks bonds for the eighth week and added bonds for the third week. Exporters and resource stocks declined after interest rates on Italian and Spanish bonds rose.

Global Worries Catch Up With Australian Stocks

Marcus Jacob
14 Jun, 2012
New York City

Australian stocks traded lower on the growing worries that commodities prices may remain depressed for the rest of the year as euro zone struggles to contain debt contagion. Gloucester Coal plans to pay special dividend of $95 million.

Wall Street Lower on Weak U.S. Data, Awaits Italian Debt Auction

Devan Biswas
13 Jun, 2012
New York City

U.S. indexes failed to hold on to marginal gains and dropped 1% in the afternoon. Retail sales declined for the second month in a row and investors worried about the Italian debt auction tomorrow. Crude oil fell and gold rose.