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Market Update

Euro Area Retail Sales Fall; Hungarian Unemployment Falls to 11%

Arthi Gupta
29 Jun, 2011
New York City

Euro area retail sales and sentiment fell in June. French GDP growth revised down in the first quarter. Spanish retail sales declined in May. Hungarian jobless rate declined in the three month period to May. Romania''s central bank held key rate at 6.25%.

European Indexes Soar 1.7%; Philips to Buy Indal

Arthi Gupta
29 Jun, 2011
New York City

The European indexes traded higher ahead of austerity vote in the Greece. The EU officials stepped up media campaign in the support of austerity measures. Euro-zone economic sentiment index fell to 105.1 in June. Philips agreed to acquire Indal. Japan-based Kyocera agreed to buy Unimerco.

Australian Stocks Rebound; Transpacific Estimates Loss

Marcus Jacob
29 Jun, 2011
New York City

Australian stocks rebounded ahead of Greek austerity vote. Resource stocks gained on the back of higher oil and metals. Transpacific Industries revised lower its annual outlook.

U.S., European Markets Look Beyond Greek Vote; IMF Selects Lagarde

Bikram Pandey
28 Jun, 2011
New York City

U.S. indexes turned positive ahead of closely watched Greek vote tomorrow. The Dow, Nasdaq and S&P 500 indexes added more than 1%. The euro gained. Crude oil and commodities advanced. The IMF appointed French Finance Minister Christine Lagarde as the next managing director.

U.S. Movers: Ice, ITT, Nike, Shire

Mukesh Buch
28 Jun, 2011
New York City

ICE mobile is now available for Android devices and mobile trading. ITT Corp. signed seven-year strategic partnership agreement to provide products and services with Saudi Arabian Oil Company. Nike fourth quarter net income grew 14% to $594 mn. Shire completes acquisition of Advanced BioHealing Inc.

UK GDP Expands 0.5%, Home Price Index Drop 2.2% in May

Arthi Gupta
28 Jun, 2011
New York City

The UK indexes rose after GDP expanded 0.5%, employment rose 1.4%, business investment and consumer spending slid in the first quarter. Irish consumer confidence deteriorated to a 4-month low in June. Cable & Wireless plunged 14% on weak fiscal year 2012 outlook.

Greece Uncertainty Drags Global Indexes Lower; Nike Net Rises 14%

Arthi Gupta
28 Jun, 2011
New York City

U.S. indexes traded flat with Greece in focus. General Dynamics won a $286 million contract from the U.S. Army. McCormick agreed to acquire Kamis for about $291 million. Nike quarterly earnings and revenues more than expected.

European Commercial Vehicle Sales Up; Swedish Retail Sales Fall

Arthi Gupta
28 Jun, 2011
New York City

European commercial vehicle sales improved and Swedish retail sales dropped in May. German consumer confidence set to strengthen in July. Italy''s producer prices rose and Swiss consumption indicator increased in May.

Unions Strike in Greece Ahead of Vote Tomorrow

Arthi Gupta
28 Jun, 2011
New York City

The European indexes declined ahead of the austerity measures vote in Greek parliament. Greek unions call for a two-day strike. Carrefour received offer from Brazil-based Gama to form a strategic partnership.

Stocks in Japan Rebound on Manufacturing Recovery Hopes

Nigel Thomas
28 Jun, 2011
New York City

Japanese stocks rebounded after investors focused on domestic events. The makers of steel, autos and electronics rose on the expectations of quicker than estimated recovery in manufacturing. Department sales decline slowed from a year ago in May and lifted stocks of retailers.

Australian Stocks Swing Higher; Rio Tinto Predicts 10 Years of Growth

Marcus Jacob
28 Jun, 2011
New York City

Australian index inched higher as investors tiptoed back to the market and set aside the worries related to Greece. Crude oil declined but resources linked stocks closed higher. Rio Tinto chief executive predicted company growth for the next ten years.

Financials Lift U.S. Indexes; Italy, Greece Worries in Rearview

Bikram Pandey
27 Jun, 2011
New York City

U.S. indexes rebounded after a weakness of seven of the last eight weeks. Banks closed higher after rule setting committee passed a watered down proposal to increase capital and delayed the implementation to between 2016 and 2018. European bond investors expand focus to Italy.

U.S. Movers: Icagen, Park Electrochemical, Universal Forest

Mukesh Buch
27 Jun, 2011
New York City

Park Electrochemical first quarter net fell. Stanley Black agreed to acquire Sweden based Niscayah AB for $1.2 billion. Universal Forest will align the costs due to significantly weaker-than-expected sales in the first five months.

UK Home Prices Decline 0.1%; Ocado Swings to Profit

Arthi Gupta
27 Jun, 2011
New York City

The UK indexes gained on optimism of a solution to the Greece debt crisis The Greek Parliament begins a debate on the austerity measures today and a parliament vote is expected on Wednesday. The UK home prices declined in June.

U.S. Personal Income Rises 0.3%; Dow, Nasdaq Up 1%

Arthi Gupta
27 Jun, 2011
New York City

U.S. indexes traded higher after personal income rose 0.3% in May. S1 agreed to merge with Fundtech in $700 million stock swap purchase. Metropolitan Health agreed to acquire Continucare for $416 million.