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Weak Techs and Miners Drag Europe
Dec 19, 1:08 PM EST |
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| Euronext shares rose 0.7% in Paris after shareholders of Euronext exchange approved the pan-European stock exchange's tie-up with NYSE Group. |
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| European stocks closed in the red Tuesday, dragged down by weaker tech companies and resource stocks. German software group SAP declined 1% after peer Oracle posted lower-than-expected sales of new software licenses. Miner companies like Rio Tinto and BHP Billiton posted losses. German steelmaker Salzgitter dropped 3.8% on downgrade. The German DAX 30 and London FTSE 100 dropped 0.7% each, while the French CAC 40 slipped 0.8%. |
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Market Falls on Economic Worries
Dec 19, 11:44 AM EST |
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| Delta Air Lines filed a reorganization plan that calls for it to emerge from Chapter11 bankruptcy protection. It also rejected US Airways' $8.3 B bid. |
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| Stocks traded in the negative, as economic data and disappointing earnings news raised concerns about the strength of the domestic economy. Inflation at the wholesale level showed its biggest jump in more than 30 years in November, pushed higher by gas prices. Overseas news also weighed on sentiment, as the stock market in Thailand plunged 15% after the Thai government announced controls on foreign investment. |
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Sensex Down 2.5%
Dec 19, 10:45 AM EST |
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| India benchmark index declined Tuesday on a broadly-based sell-off, tracking weak Asian markets. |
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| The market sank today, coming under heavy selling pressure in the wake of Thai Central Bank to restrict foreign inflows which influenced emerging markets negatively. All sectors finished lower with IT and capital goods hit the worst. Hero Honda was the only Sensex stock to gain while BHEL was the leading decliner. NTPC and Reliance Communication also plunged. Sugar stocks were among the few to hold to their gains. |
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Oracle Drags Nasdaq 1% Lower
Dec 19, 10:07 AM EST |
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| Morgan Stanley reported Q4 profit drop of 10% but still above estimates. On a per share basis, the company posted $2.08, down from $2.32 a year ago. |
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| U.S. stocks opened lower on Tuesday after government data showed the sharpest rise in producer prices in 32 years last month, sparkling inflation and higher interest rates concerns. Oracle Corp. fell 4.6% after the software maker posted disappointing sales results. Circuit City Stores said it swung to a loss in Q3 because of sharp discounts on flat-panel televisions and computer equipment. The company also lowered its full-year sales forecas. The stock slipped 17%. |
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London Slips, Britvic Shines
Dec 19, 9:51 AM EST |
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| London benchmark index was weak in late morning trade on Tuesday, though there was some upbear news around Britvic merger deal. |
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| Britvic shares shone in a weak London market on Tuesday as anticipation of a bid received a boost by reports that Permira had bought a 9.2% stake in the soft drinks company. Permira is reported to have bought the stake from Axa Investment Managers. Also, miners came under heavy selling pressure as investors took to profit-taking. Other underperformers included Vodafone, Hanson. The FTSE 100 declined 28.6 points, or 0.5%, in late morning trade. |
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Thai Shock For Asia
Dec 19, 7:32 AM EST |
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| Asian stocks fell sharply on Tuesday with Thai stocks leading the decline on the central bank decision. |
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| Markets closed lower on Tuesday as Thai shares slumped more than 14% after the central bank of the country announced rules to discourage foreign funds inflows from boosting the local currency, the baht, any further. Tokyo stocks also closed sharply lower on financials while HK dipped on selling pressure. Resource stocks were mostly lower, pacing declines in crude-oil prices. |
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Europe Lower On Tech Stocks
Dec 19, 6:32 AM EST |
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| European shares declined inearly trading on Tuesday on poor performances by technology and resource companies. |
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| European markets traded lower in early session on Tuesday, as technology companies such as SAP and resource shares are among the leading decliners on investors weighing some overnight profit-taking in the U.S. with corporate news. The broad-based drops paced profit-taking-related losses in U.S. stock markets overnight, especially in the technology sector. The U.K. FTSE 100 index declined 0.4%, the German DAX Xetra 30 index dipped 0.5% and he French CAC-40 index lost 0.6%. |
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Gold Extends Losing Streak
Dec 19, 5:17 AM EST |
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| Gold ended lower on Monday for a third consecutive session with silver prices declining nearly 4%. |
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| Silver registered its weakest finishing level in seven weeks. The market is still at most risk to extend long liquidation as the dollar sentiment improved and fund players positioned long ahead of year-end, and the market set to weaken over the next two weeks over the Christmas/New Year holiday period. Gold seems to be incredibly oversold on the fascination of market with exchanging paper assets. |
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