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U.S. Housing Starts Soar 15%; CPI Increases 0.3%

Arthi Gupta
19 Oct, 2011
New York City

The U.S. indexes slumped in early trading after mortgage activity declined on higher interest rates. U.S. housing starts soared 15% and consumer prices rose in September. Morgan Stanley swung to quarterly profit.

German Growth Lowered to 3%; Euro Area Output Rises

Arthi Gupta
19 Oct, 2011
New York City

Euro area current account gap narrowed but construction output rose in August. The German economy estimated to slow to 3% growth in the current year. Iceland

Australian Stocks, Dollar Rebound; BHP Billiton Iron Ore Shipments Rise 11%

Marcus Jacob
19 Oct, 2011
New York City

Australian stocks closed higher on the hopes that the euro zone rescue fund will be increased in size. BHP Billiton said its iron ore shipments increased 11% in the quarter and impacts of the floods will linger till the end of the year.

Spain Suffers Another Downgrade; Greece Nearly Shutdown

Arthi Gupta
19 Oct, 2011
New York City

European indexes gained on optimism of a resolution to the sovereign debt crisis. Third credit rating agency lowered Spain''s credit rating and cited a lack of progress in debt resolution. Greek unions began a 48-hour strike to protest against further austerity measures.

Wall Street Rallies 1.8% on Euro Pact Optimism; France Under Scrutiny

Bikram Pandey
18 Oct, 2011
New York City

Stocks in late rally in New York soared on speculation that European rescue fund will be increased to

U.S. Stocks Rebound; Goldman Loss, Bank of America Swings to Profit

Nichole Harper
18 Oct, 2011
New York City

U.S. indexes turned positive and erased losses of 0.8% on the rising optimism about bank earnings and housing market. Bank of America reported better than expected earnings and Goldman Sachs lost money in the quarter as estimated. IBM

U.S. Movers: Bank of America, IBM, Goldman Sachs, Coca-Cola, UnitedHealth

Mukesh Buch
18 Oct, 2011
New York City

Bank of America third quarter net income swung to $6 billion. IBM third quarter net income rose 7% to $3.8 billion. Goldman Sachs reported third quarter net loss of $428 million. Coca-Cola third quarter net earnings rose 8% to $2.2 billion.

European Markets Extend Losses; German Survey Points to Recession

Devan Biswas
18 Oct, 2011
New York City

European markets extended losses for the second day as investors turned cautious after Germany cooled the expectations ahead of the economic summit this weekend. German survey showed a growing chance of a mild recession in the next two quarters. Milan judge rejected a court case against Berlusconi.

Nikkei in Japan Drops 1.6%, Thailand Lowers Growth Outlook

Nigel Thomas
18 Oct, 2011
New York City

Stocks in Japan declined after rising to a 6-week high on the cautious outlook for the euro zone ahead of the weekend summit. Chinese slower economic expansion also contributed to market jitters and Thai floods wreak more havoc in the central Thailand as water rushes down to Bangkok.

Australian Markets Fall 2%; Telstra Shareholders Approve Handover

Marcus Jacob
18 Oct, 2011
New York City

Australian stocks were caught in cross currents weak Chinese economic growth data and ongoing worries in the euro zone. The benchmark indexes declined more than 2% and Qantas cancelled 80 additional flights. Telstra shareholders approve handover of fixed line monopoly to NBN.

Wall Street Down 1.7%; Investors Recalibrate Euro Zone Optimism

Bikram Pandey
17 Oct, 2011
New York City

U.S. stocks declined after European officials played down market expectations of a quick solution to the euro zone debt crisis. Financials and resources stocks led the decliners in New York and European trading. Latest earnings from Wells Fargo and Citigroup showed weak revenue outlook.

Merger Monday: $28 Billion Deals; Wells Fargo Drops 6%

Nichole Harper
17 Oct, 2011
New York City

Market indexes in New York opened lower and declined more than 1% after three deals of $28 billion were announced. Wells Fargo fell as much as 6% after quarterly revenues declined. Citigroup quarterly revenues were flat. Home improvement retailer Lowe

U.S. Movers: AmeriGas, Citigroup, Gannett, Hasbro, Sun Life, Wells Fargo

Mukesh Buch
17 Oct, 2011
New York City

AmeriGas agreed to acquire Energy Transfer Partners for $2.9 billion. Citigroup third quarter net earnings surged 74% to $3.8 billion. Sun Life expects to report third quarter loss of $621 million. Wells Fargo third quarter net earnings soared 21% to $4.1 billion.

Germany Lowers Expectations; Statoil Offered $4.4 B for Brigham Exploration

Devan Biswas
17 Oct, 2011
New York City

European markets turned volatile after comments from German finance minister and spokesman for German Chancellor played down expectations of comprehensive solution on the weekend summit. Statoil ASA agreed to acquire Brigham Exploration for $4.4 billion.

Nikkei Trades at 6-week High; Olympus Plunges 24%

Nigel Thomas
17 Oct, 2011
New York City

Stocks in Japan closed higher following gains in the international markets and a rise in commodities prices. Thailand flood claim one more industrial estate and another is in direct path of the flood waters north of Bangkok. Olympus plunged 24% on the worries of a regulatory scrutiny.

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