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Australian Miners Rebound; Gloucester Receives $2.2 Billion Offer

Marcus Jacob
23 Dec, 2011
New York City

Australian benchmark index increased more than 1% and for the week closed down 0.5%. Gloucester Coal received $2.2 billion merger offer from China based Yanzhou Coal. Retailers traded weak on the worries that the slump may extend next year.

Wall Street in 3-day Rally; European Markets Advance 1%

Bikram Pandey
22 Dec, 2011
New York City

Stocks in New York traded higher for the third day in a row after weekly jobless claims declined and added to a string of positive economic news. Third quarter estimate was revised lower to 1.8%. Market indexes in Europe gained after central bank offered more liquidity.

U.S. Movers: Akamai, Herman Miller, Mead Johnson, Micron, Tibco, Yahoo

Devan Biswas
22 Dec, 2011
New York City

Akamai soared after it acquired Internet infrastructure provider for $268 million. Herman Miller declined 9% on weak estimate of third quarter sales. Bank of America agreed to pay $335 million to settle charges stemming from Countrywide. WCA Waste agreed to a merger deal. Mead Johnson dropped 8%.

UK Growth Revised to 0.6%; Current Account Deficit Widens

Arthi Gupta
22 Dec, 2011
New York City

The UK indexes traded higher after gross domestic product expanded 0.6% and the volatile current account deficit widened in the third quarter. Ireland''s retail sales increased in November.

Bank of Japan Says Economy Paused; Toyota, Honda Production Falls

Nigel Thomas
22 Dec, 2011
New York City

Stocks in Tokyo traded lower as the benchmark Nikkei index declined for the first time in three days. Japan

U.S. Jobless Claims Drop, GDP Growth Estimate Lowered Again

Arthi Gupta
22 Dec, 2011
New York City

The U.S. indexes futures edged higher after weekly jobless claims fell to 364,000 and gross domestic product growth was revised down to 1.8% in the third quarter. Akamai agreed to acquire Cotendo for $268 million.

Australian Retailers Near Yearly Lows; Kathmandu Drops 23%

Marcus Jacob
22 Dec, 2011
New York City

Australian stocks edged lower after a weakness in resource stocks and retailers. Kathmandu, the outdoor apparel retailer dropped 23% after it said same store sales in the last five weeks are below a year ago period.

Italian, Hungarian Retail Sales Up; Polish Jobless Rate Climbs

Arthi Gupta
22 Dec, 2011
New York City

Italian and Hungarian retail sales rose in October and unemployment in Poland increased to 12.1% in November. The Dutch gross domestic product fell in the third quarter by 0.2%.

European Bond Yields Rise; TeliaSonera in Stake Increase in Kazakhstan

Arthi Gupta
22 Dec, 2011
New York City

European markets advanced and yields rebounded a day after the ECB offered half a trillion euros at cheap rate of 1%. Italian and Spanish bonds yields increased after falling for eight days in a row. TeliaSonera raised stake in Kcell for $1.5 billion. Lufthansa agreed to sell its stake in bmi.

U.S. Indexes Rebound From Losses; Deeper Housing Recession

Bikram Pandey
21 Dec, 2011
New York City

Tech stocks led the decliners on the worries that spending may be weaker in the enterprise segment. Nasdaq index rebounded from the decline of more than 2%. Existing home sales increased 4% in November but sales between 2007 and 2010 were revised down 14%, indicating deeper than estimated downturn.

U.S. Movers: Cintas, Delphi Financial, Expedia, Nike, Oracle

Devan Biswas
21 Dec, 2011
New York City

Enterprise technology stocks were on the decline after Oracle reported weaker than expected earnings. IBM, EMC and SAP dropped more than 4%. Expedia Inc increased 3% after it completed the spinoff of travel message board operator TripAdvisor Inc. Nike jumped 3% on better than expected earnings.

Tokyo Stocks Advance; November Trade Deficit Widens

Nigel Thomas
21 Dec, 2011
New York City

Stocks in Tokyo trading rebounded and exporters, banks and resources linked stocks led the gainers. Japanese ocean freight companies formed alliances to stabilize prices as freight rate hover near three-year low. November exports fell 4.5% and imports rose 11.4%.

UK Confidence at 3-Year Low; Public Borrowing Drops

Arthi Gupta
21 Dec, 2011
New York City

The UK indexes climbed on positive developments in Europe. Public sector borrowing in the UK declined in November and consumer confidence fell in December. The Bank of England policy makers were unanimous in holding key rates and quantitative easing.

Oracle Drags Nasdaq Down 2%; U.S. Mortgage Applications Drop

Arthi Gupta
21 Dec, 2011
New York City

The Nasdaq dropped 2% after Oracle cited difficulties in signing large deals and reported weaker than expected earnings. U.S. mortgage applications fell last week. Japan-based Tokio Marine Holdings agreed to acquire Delphi Financial for $2.7 b

Australian Indexes Rebound; Fortescue Signs Rail Expansion in Pilbara

Marcus Jacob
21 Dec, 2011
New York City

Australian stocks soared tracking the gains in international markets. The dollar advanced. BHP agreed to sell its 51% stake in the diamond project on Baffin Island in Canada for $9 million to Peregrine Ltd. Fortescue agreed to pay $330 million to expand its railroad network to new iron ore mines.

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