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Euro and Markets Trend Lower as Spanish Economy Weakens

Arthi Gupta
29 May, 2012
New York City

The European indexes pared gains after Bank of Spain forecasted weakening economy and retail sales extended slump. Italy sold

Nikkei in Japan Steady, Renesas Plunged 11%

Nigel Thomas
28 May, 2012
New York City

Stocks in Tokyo gained and Renesas Electronics plunged 11% after the company plans to eliminate 12,000 jobs and raise $1.3 billion. In light trading stocks generally drifted up. Nomura was linked to second insider trading case and Sumitomo Heavy confirmed it was suspended from a defense contract.

Australian Markets Rebound, Hastie Collapses

Marcus Jacob
28 May, 2012
New York City

Australian stocks gained on the hopes that Greece will stay in the euro zone and the currency union will avoid the latest ripple in the financial contagion. Engineering contractor Hastie Group collapsed with $500 million debt and sought bankruptcy protection.

UK House Prices Up 0.2%, Diageo to Acquire Brazil Based Ypi

Arthi Gupta
28 May, 2012
New York City

The UK indexes closed higher tracking European markets and home prices rose in May. Diageo agreed to acquire the premium Brazilian cacha

Spain, Greece, Italy Worries Grip European Markets

Arthi Gupta
28 May, 2012
New York City

The European indexes edged higher after pro-bailout parties in Greece regained ground in opinion polls ahead of the June 17 election. Swedish retail sales fell in April. Italian confidence slumped in May. Deutsche Wohnen agreed to acquire BauBeCon Group for about

Spanish Banks Added to Global Markets Worries List

Bikram Pandey
25 May, 2012
New York City

U.S. stock fluctuated as world markets focused on the ongoing financial and debt crisis in Spain and the euro zone. The troubled Spanish home lender Bankia asked $19 billion in government bailout as the bank battles with high default rates.

U.S. Movers: Flowers Foods, Fred's, Frontline, rue21, Semtech, VeriFone

Mukesh Buch
25 May, 2012
New York City

Flowers Foods first quarter net slipped 8% and lifted fiscal outlook. Fred''s said first quarter net increased 10% and rue21 first quarter net soared 20.6%. Semtech first quarter net tumbled by 90% and VeriFone second quarter net plunged 42.5% to $14.5 million.

Wall Street Looks Beyond Greek Crisis

Arthi Gupta
25 May, 2012
New York City

U.S. indexes declined on rising worries in Europe. Bank of America and Barclays agreed to sell their remaining stake in Archstone to Lehman for $1.58 billion. Citigroup completed sale of equity interest in Turkey-based Akbank for $1.15 billion.

Two Month Slump of 16% in Nikkei in Tokyo

Nigel Thomas
25 May, 2012
New York City

Stocks in Tokyo traded sideways and the Nikkei index declined for the eighth week in a row and extended losses to 16% from the peak in late March. Japan Tobacco agreed to acquire Belgium based cigarette maker Gryson NV for $600 million.

Eurobonds Hopes Extend Gains in European Markets

Arthi Gupta
25 May, 2012
New York City

The European indexes extended gains for the second day and the Euro area leading index fell and Spanish producer price inflation eased in April. Delphi offered to acquire the motorized vehicles unit of FCI for

Australian Index in Negative Territory

Marcus Jacob
25 May, 2012
New York City

Australian stocks closed lower and the ASX 200 index erased gains of the year and closed down 0.7% for the year. The index has steadily lost all its gains in the last two months after commodities prices eased on the rising prospects of a global slowdown.

Global Markets Struggle on Lowered Expectations

Bikram Pandey
24 May, 2012
New York City

U.S. stocks extended losses as global economic conditions weaken. The latest economic indicators in German, euro zone and China indicated a slowdown in manufacturing and service sector and falling confidence. UK recession was deeper than previously estimated. Oil rebounded and the dollar gained.

U.S. Movers: Costco, Heinz, HP, NetApp, Signet Jewelers, Tiffany

Mukesh Buch
24 May, 2012
New York City

Costco third quarter net soared 19% to $386 million but Heinz fourth quarter net plunged 22% to $175.3 million. HP second quarter net plunged 31% to $1.6 billion and announced a layoff of 27,000. NetApp offered a cautious outlook. Tiffany first quarter net was lower than expected.

U.S. Weekly Jobless Claims Drop; HP to Slash 27,000 Jobs

Arthi Gupta
24 May, 2012
New York City

U.S. weekly jobless claims fell 2,000 to 370,000 and durable goods orders rose 0.2% in April. General Mills agreed to acquire Brazilian food maker Yoki and HP planned to slash 27,000 jobs. Tiffany and NetApp plunged on earnings worries.

Yen Strength, Euro Worries Add to Nikkei Volatility

Nigel Thomas
24 May, 2012
New York City

Stocks in Japan traded volatile and the yen held its ground as investors focused on the Chinese manufacturing slowdown and growing uncertainties in the euro zone. Nikkei is set to decline for the eighth week in a row and has fallen 17% from its peak on March 27.

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