UK Economic Growth Unrevised at 0.5%, Dixons Surges 9%
The UK indexes rose after the third quarter economic growth estimate was held at 0.5% but business investment declined. The UK services index rose in September and Ireland said annualized wholesale prices increased in October.
U.S. Indexes Plunge 4% on Growing Economic Worries
The S&P 500 and the Nasdaq dropped 4% in volatile trading after market pessimism grew and investors reacted to the loss of highest rating for the U.S. debt. European markets fell after G7 statement failed to provide more clarity and Germany resisted ca...
U.S. Indexes in 8% Correction, Weak Labor Report; Kraft to Split
U.S. markets resumed their slide after weaker than expected jobs market report. The Dow, S&P 500 and the Nasdaq are now in correction with at least 8% decline in the last two weeks. Kraft Foods decided to split the company into two and General Motors r...
U.S. Stocks Struggle, Private Sector Adds 114,000
The U.S. indexes gained after a decline for eight days in a row after private sector added 114,000 jobs in July. MasterCard, TimeWarner, Comcast and Clorox reported better than expected earnings. European markets struggled on the growing worries about ...
Record Jobless Rate in Greece; Swiss Sentiment Improves
Hungarian industrial production accelerated in February and retail sales in the Netherlands surged. Norwegian home prices increased 5.1% in the first quarter. Greece jobless rate rose to record 15.1% in January. Swiss economic sentiment improved in April.
Merger Monday; RockTenn Acquires Smurfit-Stone for $3.5 B, Sara Lee in Play
U.S. indexes traded sideways as merger news dominate trading. RockTenn agreed to acquire Smurfit-Stone for $3.5 billion and Surgery Partners purchased NovaMed for $214 million. Halliburton net surges. Sara Lee Corp becomes the target of deals from priv...
UK Proposes Sharp Budget Cuts
The UK indexes traded sideways after Chancellor Osborne unveiled significant budget cuts that will also see a reduction in nearly half a million public sector jobs. The BoE policy makers were divided on quantitative easing in the latest meeting.
U.S. Stocks Decline; Pfizer Acquires King Pharma for $3.6 Billion
U.S. stocks traded lower ahead of the minutes of FOMC meeting. Pfizer agreed to buy King Pharma for $3.6 billion. Chevron sold 23.44% Colonial Pipeline stake to the private equity group KKR. Dollar Tree agreed to buy Canada based Dollar Giant Store for...
UK Home Prices Slump; BP, SOCAR Deal
The UK indexes rose after the BoE held key rate at 0.5% and quantitative easing at £200 billion. The UK home prices plummeted 3.6% in September and manufacturing output grew in August. BP and SOCAR signed deal to develop deepwater gas field in Azerbai...
U.S. Stocks Rise; IBM to Buy Netezza
U.S. stocks gained on renewed global economic optimism. France based conglomerate Safran SA agreed to acquire U.S. based L-1 Identity Solutions for $1.6 billion. Sahara India may bid for MGM Inc for $2 billion. IBM agreed to buy Netezza for $27 a share.
FTSE Gains 1.7%; Home Prices Fall
The UK indexes advanced after home prices fell 1.1% in September. The UK mortgage lending weakened in July and M4 money supply declined in August. BAE Systems agreed to buy L-1 Identity Solutions Intelligence Services Group for $295.8 million.
Import Prices Up; Mortgages Applications Fall
U.S. stocks traded lower after import prices rose 0.6% in August and mortgages applications fell for a second consecutive week. ACE agreed to acquire Rain and Hail for $1.1 billion. HealthSouth reaffirmed its annual earnings outlook.
