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Market Update

Euro Area Deficit Widens; German PPI Eases

Arthi Gupta
20 Jun, 2011
New York City

Euro-zone hourly labor cost climbed in the first quarter and current account deficit widened in April. French new industrial orders rose in April. German producer price inflation slowed in May.

Australian Index Drops 0.7%; Caltex Lowers Outlook

Marcus Jacob
20 Jun, 2011
New York City

Australian stocks dropped as markets in Asia declined after the euro-zone finance ministers failed to agree on Greek bailout terms and delayed the decision to early July. The uncertainty and rising prospect of Greek defaults unnerved the Asian markets. Caltex lowered its profit estimate.

Europe Defer Aid to Greece; Indexes Slump

Arthi Gupta
20 Jun, 2011
New York City

The European indexes slumped after euro-zone finance ministers failed to reach a consensus on the disbursement of the second tranche of aid to Greece. Publicis Groupe agreed to acquire Genedigi for further expansion in China.

U.S. Indexes Surrender Gains; IMF Lowers World Oulook

Bikram Pandey
17 Jun, 2011
New York City

U.S. stocks surrendered early gains after expectations of a resolution on Greek debt lifted sentiment in the morning. The IMF lowered the estimate of world economic growth to 4.3%, for U.S. to 2.5% and euro-zone to 2%. China and India are expected to grow at 9.6% and 8.2% respectively.

U.S. Movers: Capital One, Lender Processing, RiM, Steel Dynamics

Mukesh Buch
17 Jun, 2011
New York City

Capital One agreed to acquire ING Direct from ING Groep in $9 billion. Lender Processing estimated second quarter earnings per share in the range of $0.54 to $0.56. Research In Motion first quarter net income declined 9.5% to $695 million and guided lower sales and earnings in the current quarter.

UK Indexes Climb; Vallares IPO Raises $2.2 Billion

Arthi Gupta
17 Jun, 2011
New York City

The UK indexes climbed on optimism for a resolution to the Greece sovereign debt crisis. ARM agreed to acquire U.S.-based Obsidian Software. CSR and Zoran agreed to revised terms for proposed merger. Vallares raised

Stocks Higher on Greek Deal Hopes; RiM Plunges 18%

Arthi Gupta
17 Jun, 2011
New York City

U.S. stocks traded higher as Germany and France inch closer to Greek bailout. RiM dropped 12% after it estimated lower sales and earnings. Capital One agreed to acquire ING Direct for $9 billion. Tata Steel agreed to sell its entire stake in Riversdale to Rio Tinto for $1.1 billion.

Euro-zone Construction Output Declines; Trade Deficit Widens

Arthi Gupta
17 Jun, 2011
New York City

Euro-zone construction output declined and trade deficit widened in April. Europe new passenger car registrations increased in May. Spanish industrial orders and turnover growth rate slowed in April. Austria''s central bank lifted its growth forecast for the year.

Greece Reshuffles Cabinet; ING Direct Fetches $9 Billion

Arthi Gupta
17 Jun, 2011
New York City

The European indexes traded higher after Greek Prime Minister George Papandreou reshuffled his cabinet. ING Groep sold ING Direct to U.S.-based Capital One for $9 billion. The euro area trade balance swung to deficit of

Woodside Delays LNG Shipment; Rio Tinto Gains Control of Riversdale

Marcus Jacob
17 Jun, 2011
New York City

The Australian index edged up on Friday but for the week lost 1.7%. Woodside Petroleum delayed its shipment date from Pluto project and estimated $900 million in higher costs. Rio Tinto gained full control of Riversdale Mining after Tata Steel sold its 26% stake.

U.S. Stocks Struggle, Greek Contagion Worries

Bikram Pandey
16 Jun, 2011
New York City

U.S. stocks meandered as investors digested slightly better news on the jobs and housing market after a string of weak economic data. Greece remained the focus as prime minister sought to unify the nation for austerity measures. India lifted rates for the tenth time in last sixteen months.

U.S. Movers: Actuant, Energy Transfer, MediaMind, Pier 1, Kroger

Mukesh Buch
16 Jun, 2011
New York City

Actuant third quarter net earnings soared 75%. Energy Transfer Equity will acquire Southern Union for $7.9 billion. MediaMind agreed to be acquired by DG FastChannel for $517 million. Pier 1 first quarter net income surged 84%. Kroger first quarter net earnings rose 1.6%.

UK Stocks Slide 1% as Retail Sale Fall 1.4%

Arthi Gupta
16 Jun, 2011
New York City

The UK indexes edged lower on euro debt concerns and political strife in Greece. UK retail sales fell in May. Rolls-Royce secured orders worth over

U.S. Jobless Claims Drop; Energy Transfer to Buy Southern Union

Arthi Gupta
16 Jun, 2011
New York City

U.S. indexes declined after weekly jobless claims fell 16,000 and housing starts rose 3.5% in May. Energy Transfer agreed to buy Southern Union for $7.9 billion. Ford planned addition investment of $500 million to increase engine production in China.

Nikkei in Japan Drops 1.7%

Nigel Thomas
16 Jun, 2011
New York City

Stocks in Japan fell tracking losses in New York and European markets. Greek worries and uneven economic recovery in the U.S. dragged market indexes. Greek troubles intensified as riots broke out in Athens and European leaders struggle to decide the share of losses if Greece defaults on loans.