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Spanish Economic Growth Halts; Credit Suisse Cuts 1,000 Jobs

Devan Biswas
31 Oct, 2011
New York City

European indexes declined and yields on Italian and Spanish bonds gained. Belgium completed the sale of

U.S. Indexes Head Lower; MF Global Files Bankruptcy

Nichole Harper
31 Oct, 2011
New York City

U.S. stocks trended lower on the last trading day of October and indexes soared more than 11% in the month. The S&P 500 index gained 11.8% and the Nasdaq index added 11.9% in the month. MF Global filed for bankruptcy protection after the deal with Interactive Brokers fell apart.

Yen Drops 4% on Japanese Intervention; Ebara, Mitsui OSK Fall

Nigel Thomas
31 Oct, 2011
New York City

Finance ministry in Japan intervened in the currency market and propped up the yen by 4%. The yen had traded near its 25-year high. Stocks declined and investors surmised the intervention will not sustain the weaker yen. Ebara Corp plunged 11% and Mitsui OSK dropped 4% on weak earnings outlooks.

Best Monthly Gains in Australian Stocks in 2 Years; Qantas Up 4%

Marcus Jacob
31 Oct, 2011
New York City

Australian stocks closed lower on the last day of October and but gained 7.1% in the month. October month gain was the best since July 2009. Banks led the decliners and resource stocks closed mixed. Qantas resumed flight operations after an order from labor tribunal.

Qantas to Resume Flights; But For How Long

Arjun Dave
30 Oct, 2011
New York City

Fair Work Australia ordered Qantas strike suspended early Monday morning and flights are expected to resume in the afternoon. However, structural problems at Qantas are not going to go away as the airline reposition in Asia and battles for a profitable market share in long haul travel to Europe.

Investors Dial Back Europe Accord Enthusiasm; U.S. Confidence Index Up

Bikram Pandey
28 Oct, 2011
New York City

U.S. stocks declined and the S&P 500 index declined after a rally on Thursday. Investors recalibrated their enthusiasm about Greek bond restructuring and European bank recapitalization plan. Yields on Italian bonds surged near record.

Cablevision, Whirlpool, Expedia Fall; Goodyear, Baidu, Chevron, CBRE Rise

Devan Biswas
28 Oct, 2011
New York City

Cablevision Systems declined after it lost more than estimated video service subscribers. Cigna Corp turned lower and the company lifted annual earnings outlook. Whirlpool Co plunged after it reported weaker sales and plans to cut 5,000 jobs. China based search engine operator Baidu Inc jumped.

U.S. Stocks Sideways; Cigna Lifts Outlook; Chevron Net Doubles

Nichole Harper
28 Oct, 2011
New York City

Stocks in New York eased after a sharp rally on Thursday. Consumer spending accelerated and rose 0.6% in September and consumer confidence index was revised higher in October. Whirlpool Corp plans to cut 5,000 jobs and Chevron said third quarter net more than doubled. Cigna lifted annual outlook.

German Court Suspends Parliament Committee; Italian Yields Rise

Devan Biswas
28 Oct, 2011
New York City

European markets traded lower a day after leaders agreed to finalize the terms of Greek bonds restructuring. Bond market sceptic drove the yield for Spanish and Italian bonds higher. Italy completed the sale of

Nikkei Rises 1.4%; Olympus, Ibiden Fall; Sharp, Komatsu, Terumo Rise

Nigel Thomas
28 Oct, 2011
New York City

The benchmark Nikkei index in Tokyo gained 1.4% and for the week added 4.2%. Softbank earnings more than doubled on iPhone sales. Sharp, Ibiden, Omron and Terumo lowered earnings outlook for the year and cited stronger yen and weak demand in Europe. Thai floods prompt more production worries.

Australian Stocks Extend Gains; Qantas Strike Cost A$68 Million

Marcus Jacob
28 Oct, 2011
New York City

Australian stocks extended gains for the second day and the Australian dollar declined a fraction. Commodities closed mixed in Asian trading. Qantas Airways strike has cost the company A$68 million so far and A$15 million a week. Nearly 10,000 travelers are affected and seven planes are grounded.

Wall Street Surge Follows European Decisions; Bond Market Sceptical

Bikram Pandey
27 Oct, 2011
New York City

Stocks, commodities and euro soared after European leaders agreed to restructure Greek bonds and banks were asked to raise capital and meet higher reserve requirements. The euro gained, oil soared 4%, gold added 1% and copper surged 7%. U.S. bond yields rose and European yields traded near highs.

Akamai, Altria, ExxonMobil, Franklin Resources Rise; Visa, PF Chang's Ease

Devan Biswas
27 Oct, 2011
New York City

Akamai Technologies surged 15% after quarterly revenues and earnings rose more than expected. Visa Inc reported 14% higher net as payment volume processed increased. ExxonMobil earnings surged after crude oil prices rose 18% from a year ago. PF Chang

U.S. GDP Growth Accelerates to 2.5%; S&P 500 Index Jumps 2%

Nichole Harper
27 Oct, 2011
New York City

U.S. stocks soared after European leaders agreed after a marathon ten hours of negotiations to restructure Greek debt. U.S. economy in the third quarter expanded at 2.5%, faster than the 1.3% in the second quarter. ExxonMobil third quarter revenues increased 32% and net soared 41% to $10.3 billon.

European Agreement Lifts Indexes 5%; Deutsche Bank, BNP Paribas Vault 15%

Devan Biswas
27 Oct, 2011
New York City

European markets surged after the European Union leaders agreed on a plan to restructure Greek debt, ask banks to recapitalize and increase the size of the rescue fund with the help of outside investors. Banks soared in Frankfurt, Milan and Paris.

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