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Market Update

Spanish Debt Auction Subdued, Cyprus Seeks Bailout

Arthi Gupta
26 Jun, 2012
New York City

The European indexes fell after 28 Spanish banks were downgraded. Spain raised

Italian Retail Sales Decline, French Sentiment Flat

Arthi Gupta
26 Jun, 2012
New York City

German consumer confidence is likely to rise in July and confidence among French households remained unchanged in June. Swiss consumption index fell in May. The Dutch economy expanded in the first quarter and Italian retail sales fell more than estimated in April.

Australian Stocks in 4-day Losses, Rinehart Threatens to Sell Fairfax Stake

Marcus Jacob
26 Jun, 2012
New York City

Australian stocks extended losses for the fourth day in a row and resource sector stocks declined. News Corp is considering splitting its entertainment and news operations as the company struggles with multiple investigations.

Stocks Extend Losses, Microsoft Confirms $1.2 Deal to Buy Yammer

Bikram Pandey
25 Jun, 2012
New York City

On Wall Street stocks declined after investors voiced skepticism about the upcoming meeting of European leaders. Crude oil and commodities extended losses. Microsoft agreed to acquire enterprise networking services provider Yammer for $1.2 billion.

U.S. Movers: Quest Software, Linn Energy, Pioneer Drilling, RiM

Mukesh Buch
25 Jun, 2012
New York City

Fidelity National Financial agreed to acquire J. Alexander''''s for $72 million. Quest Software received proposal for $25.75a share. Linn Energy agreed to acquire properties valued $1.025 billion. Pioneer Drilling lowered second quarter outlook.

New Home Sales Rise to a 2-year High

Mukesh Buch
25 Jun, 2012
New York City

New home sales increased more than expected in May as construction surged in the Northeast. Median home prices edged up and inventory of unsold homes held below five months.

UK Indexes Lower, Household Finance Index Rises

Arthi Gupta
25 Jun, 2012
New York City

The UK indexes trended lower tracking the European markets and the UK household finance index rose in June. Shire plunged 13% after the FDA approved the abbreviated new drug applications for generic Adderall XR filed by Actavis.

World Markets and Wall Street Turn Gloomy on Euro Paralysis

Arthi Gupta
25 Jun, 2012
New York City

World markets are increasingly questioning the slow pace of leadership response as the debt crisis spreads in Europe. The expectations are low ahead of the next summit of European Union and markets in Asia and Europe traded lower as patience wear thin after two years of failed talks.

Nikkei Eases Ahead of Sales Tax Vote Tomorrow

Nigel Thomas
25 Jun, 2012
New York City

Stocks in Tokyo fell for the second day in a row and retailers, resource and shipping sector stocks led the decline. The yen gained a fraction and energy prices fell as investors question the outcome of the latest meeting of the European leaders.

Australian Stocks Decline, Billabong Plunges 48%

Marcus Jacob
25 Jun, 2012
New York City

Investors in Australia and in Asia are increasingly turning away their focus from the euro zone as the summit paralysis sets in. Billabong plunges 48% as investors dump share as the company launches its public offer. Fairfax embarks on a restructuring and shakes up its editorial leadership.

German Public Debt Rises, Spanish PPI Climbs

Arthi Gupta
25 Jun, 2012
New York City

German public debt rose in the first quarter and Hungarian retail sales fell in April. Spanish producer price inflation rose in May and Economic confidence in the Czech Republic weakened in June.

European Markets Worry of Larger Spanish Bailout

Arthi Gupta
25 Jun, 2012
New York City

European markets were on the edge on the first day of trading as the leaders in the region prepare to gather to finalize the region wide banking integration. Spain requested formally for a bank aid and the prospect of a larger bailout loomed.

European Leaders Pledge

Bikram Pandey
22 Jun, 2012
New York City

U.S. indexes rebounded as leaders of Germany, France, Italy and Spain pledged stimulus package of as much as

U.S. Movers: Carnival Corp., Clarcor, Darden Restaurants, Ryder System

Mukesh Buch
22 Jun, 2012
New York City

Carnival Corp. second quarter net tumbled 93.2% to $14 million and Clarcor second quarter nearly flat to $32.9 million. Darden Restaurants fourth quarter net surged 10% and Ryder System lowered its second quarter and full year outlook.

Resources Heavy UK Indexes Drop, Michael Page Plunges 7%

Arthi Gupta
22 Jun, 2012
New York City

The UK indexes turned lower after home price sentiment index remained unchanged in June. Investors focused on the rising prospects of a larger bailout in Spain and growing problem at domestic banks. Banks rose despite a rating agency downgrade.