UK Mortgage Lending Rises; Stocks Weak
The UK indexes fall for the second consecutive day after weaker-than-expected U.S. new home sales data. Pound trades higher after the release of Bank of England minutes but the BoE policy makers differ over interest rate. UK banks approve more mortgage...
European Markets Slide
European stocks stumble after new home sales in the U.S. slumped 33% in May. Euro-zone composite PMI falls to three-month low in June. BASF agrees to buy Cognis in $3.8 billion deal.
U.S. Stocks Decline on Weak Home Sales
U.S. stocks rise on optimism that the Federal Reserve will hold a key interest rate at a record low. White House said appeals block on drilling ban. AT&T acquires rural wireless assets from Verizon Wireless. Adobe Systems Inc. said second quarter net r...
U.S. Home Sales Fall; Walgreen Net Falls
U.S. stocks trade lower after May home sales declined. Existing home sales in the month fell 2.2% to 5.66 million and increased 19.2% from a year ago month. Fitch downgrades its debt rating on BNP Paribas SA. Walgreen third quarter profit declines.
Spanish Banks Ratings Kept; European Stocks Down
European markets fell after Fitch downgrades BNP Paribas’ credit rating by a notch and S&P kept its ratings on Spanish banks but increased loan loss reserves. The euro area current account deficit in April was €5.1 billion. German business climate ...
UK Budget to Trim Expenses; VAT to Rise
The UK indexes traded lower after the interim budget that proposed higher VAT and eliminated nearly one million tax payers with low income and lowered the corporate tax to 24% . The government also cuts growth outlook and public sector pay freeze for t...
U.S. Stocks Up; Yuan Band to Widen
U.S. stocks traded higher after China allowed the yuan to trade more freely against the dollar. U.S.-based Corn Products agrees to buy National Starch unit for $1.3 billion and Valeant agreed to merge with Biovail.
European Markets 9-Day Rally Continues
European markets extend their gains for a ninth consecutive session after China decides to lift the peg of its currency against the dollar. Portugal producer prices rises 0.4% in May. Hungary Central Bank maintains key policy rate unchanged at 5.25%.
Commodities, Stocks Rise in UK
The UK indexes soar after China’s decision to lift the peg of its currency against the U.S. UK home price inflation slows in June. Hagens Berman Sobol Shapiro reaches $103 million settlement with Astra Zeneca. Xchanging agrees to buy Data Integration.
European Market 8-Day Streak Continues
European markets continue to rise after eight sessions of straight gains. German producer prices rise 0.3% in May. Spanish bank Banco Santander’s UK affiliate bids for about 300 RBS branches.
Greenspan Warns of Inflation
U.S. stocks trade sideways as global markets retain positive bias. Private equity fund controlled by KKR agrees to buy Japanese recruitment firm Intelligence for $356 million.
UK Money Supply, Borrowings Decline
The UK indexes rose on optimistic economic data. The broadest measure of money supply decreased by £15.1 billion and public sector net borrowing declined to £16 billion in May. UK gross mortgage lending increased 7% in May. BP Plc faces harsh criticism.
