- Devan Biswas
- 31 Oct, 2011
- New York City
European indexes declined and yields on Italian and Spanish bonds gained. Belgium completed the sale of
- Nichole Harper
- 31 Oct, 2011
- New York City
U.S. stocks trended lower on the last trading day of October and indexes soared more than 11% in the month. The S&P 500 index gained 11.8% and the Nasdaq index added 11.9% in the month. MF Global filed for bankruptcy protection after the deal with Interactive Brokers fell apart.
- Nigel Thomas
- 31 Oct, 2011
- New York City
Finance ministry in Japan intervened in the currency market and propped up the yen by 4%. The yen had traded near its 25-year high. Stocks declined and investors surmised the intervention will not sustain the weaker yen. Ebara Corp plunged 11% and Mitsui OSK dropped 4% on weak earnings outlooks.
- Marcus Jacob
- 31 Oct, 2011
- New York City
Australian stocks closed lower on the last day of October and but gained 7.1% in the month. October month gain was the best since July 2009. Banks led the decliners and resource stocks closed mixed. Qantas resumed flight operations after an order from labor tribunal.
- Arjun Dave
- 30 Oct, 2011
- New York City
Fair Work Australia ordered Qantas strike suspended early Monday morning and flights are expected to resume in the afternoon. However, structural problems at Qantas are not going to go away as the airline reposition in Asia and battles for a profitable market share in long haul travel to Europe.
- Bikram Pandey
- 28 Oct, 2011
- New York City
U.S. stocks declined and the S&P 500 index declined after a rally on Thursday. Investors recalibrated their enthusiasm about Greek bond restructuring and European bank recapitalization plan. Yields on Italian bonds surged near record.
- Devan Biswas
- 28 Oct, 2011
- New York City
Cablevision Systems declined after it lost more than estimated video service subscribers. Cigna Corp turned lower and the company lifted annual earnings outlook. Whirlpool Co plunged after it reported weaker sales and plans to cut 5,000 jobs. China based search engine operator Baidu Inc jumped.
- Nichole Harper
- 28 Oct, 2011
- New York City
Stocks in New York eased after a sharp rally on Thursday. Consumer spending accelerated and rose 0.6% in September and consumer confidence index was revised higher in October. Whirlpool Corp plans to cut 5,000 jobs and Chevron said third quarter net more than doubled. Cigna lifted annual outlook.
- Devan Biswas
- 28 Oct, 2011
- New York City
European markets traded lower a day after leaders agreed to finalize the terms of Greek bonds restructuring. Bond market sceptic drove the yield for Spanish and Italian bonds higher. Italy completed the sale of
- Nigel Thomas
- 28 Oct, 2011
- New York City
The benchmark Nikkei index in Tokyo gained 1.4% and for the week added 4.2%. Softbank earnings more than doubled on iPhone sales. Sharp, Ibiden, Omron and Terumo lowered earnings outlook for the year and cited stronger yen and weak demand in Europe. Thai floods prompt more production worries.
- Marcus Jacob
- 28 Oct, 2011
- New York City
Australian stocks extended gains for the second day and the Australian dollar declined a fraction. Commodities closed mixed in Asian trading. Qantas Airways strike has cost the company A$68 million so far and A$15 million a week. Nearly 10,000 travelers are affected and seven planes are grounded.
- Bikram Pandey
- 27 Oct, 2011
- New York City
Stocks, commodities and euro soared after European leaders agreed to restructure Greek bonds and banks were asked to raise capital and meet higher reserve requirements. The euro gained, oil soared 4%, gold added 1% and copper surged 7%. U.S. bond yields rose and European yields traded near highs.
- Devan Biswas
- 27 Oct, 2011
- New York City
Akamai Technologies surged 15% after quarterly revenues and earnings rose more than expected. Visa Inc reported 14% higher net as payment volume processed increased. ExxonMobil earnings surged after crude oil prices rose 18% from a year ago. PF Chang
- Nichole Harper
- 27 Oct, 2011
- New York City
U.S. stocks soared after European leaders agreed after a marathon ten hours of negotiations to restructure Greek debt. U.S. economy in the third quarter expanded at 2.5%, faster than the 1.3% in the second quarter. ExxonMobil third quarter revenues increased 32% and net soared 41% to $10.3 billon.
- Devan Biswas
- 27 Oct, 2011
- New York City
European markets surged after the European Union leaders agreed on a plan to restructure Greek debt, ask banks to recapitalize and increase the size of the rescue fund with the help of outside investors. Banks soared in Frankfurt, Milan and Paris.