» UK markets closed lower yesterday, led by declines in banking sector stocks, after the UK government backed proposals to reform the country’s banking system. Furthermore, comments made by the European Central Bank President on the state of the European economy, dented market sentiment.
» Mining sector stocks, BHP Billiton, Antofagasta, Fresnillo, Kazakhmys and Vedanta Resources dropped between 1.5% and 3.6%, tracking a fall in base metal prices.
» Lloyds Banking Group, the top laggard on the FTSE 100 index, fell 4.2%, while Royal Bank of Scotland and Barclays declined 3.0% and 3.2%, respectively, as Britain mulled to introduce barriers between the banks’ retail and investment banking divisions.
» Utility stock, National Grid slipped 1.0%, as Deutsche Bank downgraded its rating on the stock to “Sell” from “Hold”.
» FTSE 100 edged down 0.4% to settle at 5,365.0, while FTSE 250 slid 0.6% to close at 9,748.4.
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US Shares News - 20 Dec 11
» US markets dropped sharply yesterday, amid reports that the European Union finance ministers had failed to reach a consensus on raising the joint ceiling of their temporary and permanent rescue funds.
» Bank of America, the top decliner on the DJIA index, slipped 4.1%, while JPMorgan Chase, Citigroup and Morgan Stanley declined between 3.7% and 5.5%, amid concerns that large banks would be required to hold extra capital as per a new global framework.
» Goldman Sachs lost 2.7%, as Nomura cut its target price on the stock.
» Microsoft, Hewlett-Packard, Alcoa and FedEx lost between 1.8% and 4.2%, amid concerns about the global economy.
» Schnitzer Steel Industries tumbled 9.2%, after it forecasted weaker-than-expected first-quarter results.
» DJIA slid 0.8% to close at 11,766.30. NASDAQ slumped 1.3% to settle at 2,523.1. S&P 500 declined 1.2% to settle at 1,205.4.
Where to Spread Bet on US Shares
Wall Street Shares
S+P 500 Shares
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Asian Shares News - 20 Dec 11
» Asian markets are trading higher this morning, led by a sharp rise in exporter stocks, amid optimism that global demand for exporters would recover. This came after Federal Reserve Bank of Richmond President, Jeffrey Lacker, forecasted that the US economy would grow 2% to 2.5% next year.
» In Japan, exporters, Fujitsu, Sharp and Mazda Motor paced higher.
» Olympus gained value, following a report that the company might raise ¥100 billion by selling preference shares.
» In Hong Kong, Huaxia Bank and China Vanke paced gains, after China Securities Journal reported that the Chinese central bank might cut the required reserve ratio for banks again in the near term.
» In South Korea, carmakers, Kia Motors and Hyundai Motor, traded higher, reversing their earlier session losses.
» Nikkei 225 index is trading 0.5% higher, at 8,340.8. Hang Seng index is trading 0.5% higher at 18,168.6, while the Kospi index is trading 0.9% higher at 1,793.1.
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'US Stock Markets Fall as EU Finance Ministers Fail to Agree', Article by ETX Capital, last update: 20-Dec-11
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