ENRC Spreads Plunge on Speculation Over Corruption Investigation

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ENRC Spreads Plunge on Speculation Over Corruption Investigation

ENRC Spreads Plunge on Speculation Over Corruption Investigation

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UK Shares News - 13 Dec 11

» UK markets slumped yesterday, after Moody’s Investors Service placed Eurozone countries under review citing doubts over the success of the recent summit aimed to resolve the European debt crisis, dampening investors’ sentiment.

» Lloyds Banking Group, the top laggard on the FTSE 100 index, declined 8.6%, while Barclays shed 4.6%, amid renewed worries over the Eurozone debt crisis.

» Royal Bank of Scotland Group slipped 6.5%, after the UK Financial Services Authority report revealed reasons for the near-collapse of the bank in 2008.

» Among mining sector stocks, Xstrata, Antofagasta and Kazakhmys retreated between 5.6% and 6.7%, amid speculation that a slowdown in China’s industrial output would decrease demand for copper.

» ENRC dropped 7.4%, amid speculation that Britain's Serious Fraud Office has launched a formal corruption investigation into the company.

» FTSE 100 slumped 1.8% to 5,427.9, while FTSE 250 tumbled 2.3% to close at 9,901.2.



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US Shares News - 13 Dec 11

» US markets tumbled yesterday, after comments from Moody’s Investors Service and Fitch Ratings dampened investors’ optimism about the European leaders’ ability to devise a comprehensive solution to contain the region’s debt crisis.

» Bank of America, the top laggard on the DJIA index, lost 4.7%, while JPMorgan Chase, Citigroup and Morgan Stanley shed between 3.4% and 6.1%, amid concern that the European debt crisis would spread.

» Intel sank 4.0%, after it trimmed its fourth-quarter revenue forecast, citing supply shortages of hard-disk.

» Alpha Natural Resources lost 8.8%, and emerged as the top decliner on the S&P 500 index, while Newmont Mining, Alcoa and Alcoa skidded between 2.5% and 4.5%, as base metal prices retreated.

» Salesforce.com tumbled 6.3%, after a broker cut its recommendation on the stock to “Underperform” from “Neutral”.

» DJIA declined 1.3% to 12,021.4. NASDAQ lost 1.3% to settle at 2,612.3. S&P 500 slumped 1.5% to 1,236.5.



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Spread betting markets on US Shares may also be available through other companies. Notes.


Asian Shares News - 13 Dec 11

» Asian markets are trading lower this morning, tracking a fall in global equity markets, after Moody’s and Fitch placed European countries on ratings review following last week’s summit. Additionally, Moody’s placed eight Spanish banks and two holding companies on review for possible downgrades late Monday.

» In Japan, Honda Motor, Suzuki Motor and Sony paced declines, amid concerns that a slowdown in the global economy would affect demand.

» Technology stocks, Tokyo Electron, Advantest and Renesas Electronics paced losses, after their US peer, Intel, cut its fourth-quarter revenue estimates.

» In Hong Kong, Sinopec and ENN traded lower after they agreed to acquire outstanding shares in China Gas Holdings.

» In South Korea, S-Oil and SK Innovation traded lower, as crude oil prices retreated yesterday.

» Nikkei 225 index is trading 0.9% lower, at 8,576.1. Hang Seng index is trading 1.0% lower at 18,382.2, while the Kospi index is trading 1.6% lower at 1,869.7.




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'ENRC Spreads Plunge on Speculation Over Corruption Investigation', Article by ETX Capital, last update: 13-Dec-11



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