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Spanish Debt Auction and a Rebound in Euro Lifts Markets

Arthi Gupta
15 Dec, 2011
New York City

European indexes gained after Spain raised

U.S. Indexes Drop 1%; Gold Falls $93, Oil Down 5%

Bikram Pandey
14 Dec, 2011
New York City

Market indexes in New York traded lower for the third day in a row as bond market yields rose in Europe and the euro declined. The S&P 500 index dropped nearly 4% in the week as the euro retreated more than 3%. Oil plunged 5%, silver tumbled 8% and gold dropped $93 an ounce.

Tokyo Stocks Struggle, Nexon IPO Raises $1.2 Billion

Nigel Thomas
14 Dec, 2011
New York City

Nikkei index Japan eased as markets in Asia fell and commodities eased. Revised financial statements from Olympus showed that the company was solvent in each of the last five year period, avoiding worst fears of investors. Nexon, the online gaming company raised $1.2 billion in a public offering.

UK Unemployment at 17-Year High; Logica Plunged 15%

Arthi Gupta
14 Dec, 2011
New York City

The UK indexes declined after unemployment increased to a 17-year high in the three months to October. Thomas Cook fell 3% after reporting an annual pre-tax loss. Wm Morrison planned to create more than 7,000 new jobs in 2012 and Logica plc plans to restructure and eliminate 1,300 jobs.

U.S. Mortgage Activity Rose 4.1%; GE Reaffirms 2012 Outlook

Arthi Gupta
14 Dec, 2011
New York City

The U.S. indexes futures fell and the mortgage and refinancing activity rose 4.1% in the previous week. Coca-Cola agreed to buy half of the equity in a Middle East based beverage business for $980 million. Joy Global quarterly net surged 33%.

Australian Stocks Flat; Wespac May Not Pass on Future Rate Cut

Marcus Jacob
14 Dec, 2011
New York City

Australian benchmark indexes closed nearly flat and the dollar briefly traded below parity. Mining and energy stocks generally closed higher. Rio Tinto said it has no immediate plans to increase its stake in Canada based Ivanhoe Mines. Westpac chief indicated future rate cuts may not be passed on.

German Outlook Cut; Swedish Unemployment Drops to 4.4%

Arthi Gupta
14 Dec, 2011
New York City

Euro area industrial production declined in October and a private survey lowered German growth outlook for this year and 2012. Portuguese inflation eased and Swiss producer and import prices declined in November.

Italian Bond Yields Rise; Euro-zone Production Drops

Arthi Gupta
14 Dec, 2011
New York City

European indexes edged lower after the U.S. Federal Reserve left key rate near zero and did not announce new stimulus measures. The Italian Treasury sold

World Markets in Holding Pattern; European Banks Slide

Bikram Pandey
13 Dec, 2011
New York City

World markets were in a holding pattern as the European banks sell assets to meet revised capital guidelines. Greece is expected to extend recession to the fifth year in 2012 as construction industry collapses. U.S. retailers and consumer spending linked stocks traded lower.

Weak U.S. Retail Sales in November; Best Buy Plunges 12%

Nichole Harper
13 Dec, 2011
New York City

U.S. stocks traded sideways ahead of the Fed statement this afternoon and retail sales in November rose at the slowest month since June. Best Buy dropped 12% after the electronics retailer reported weaker sales and 29% fall in earnings.

European Bond Yields Rise; Greece to Exceed Deficit Targets

Devan Biswas
13 Dec, 2011
New York City

European markets traded sideways as several of fiscal compact agreement provisions went effective today. Yields on Italian, Spanish and Irish bonds closed higher. Greece deficit is expected to exceed its target as tax collection lags and economy faces recession for the fourth year in a row.

Nikkei in Tokyo Declined 1.2%; Honda Earnings Worries

Nigel Thomas
13 Dec, 2011
New York City

The benchmark index in Tokyo declined 1.2% after investors reassessed the EU summit fiscal compact failed to produce immediate steps to contain debt contagion. Honda declined on the worries that it may lower its annual earnings outlook. Olympus is set to file revised financial statements.

Australian Markets Edge Lower; 15% Rise in Commodities Exports

Marcus Jacob
13 Dec, 2011
New York City

Australian exports of commodities in the current fiscal year is estimated to increase 15% to $206 billion on 13% increase in iron ore and 14% rise in thermal coal exports. Stocks edged lower on the euro zone worries and a weakness in the international markets.

Second View on EU Summit Drags World Market Indexes

Bikram Pandey
12 Dec, 2011
New York City

U.S. indexes turned lower and dropped by 2% in the late afternoon after investors had second thoughts about the last week summit of European leaders. Chipmakers were on the decline after Intel lowered fourth quarter revenue outlook.

Wall Street Falls 2%, Intel Lowers Sales Outlook

Nichole Harper
12 Dec, 2011
New York City

U.S. indexes dropped nearly 2% after investors focused on the details of the fiscal compact that was agreed last week at the summit of the European Union nations. Market decline was accelerated after a rating agency said it will review sovereign debt ratings of EU nations.

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