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Overnight Market News – December 7, 2011

admin — Wed, 07 Dec 2011 11:33:31 +0000

Australia’s Gross Domestic Product Rises 1% in Q03 2011, Following a 1.4% Expansion in the Prior Quarter, Beating Economists’ Median Forecast for a 0.8% Gain
Citigroup Inc Plans to Cut Approximately 4.5k Jobs in the Coming Quarters in Order to Offset Declining Revenue
ING Groep NV Reports that it Must Take a Charge of up to EUR 1.1B as Lower Interest Rates and Stock Markets Hurt a US Annuity Business it is Winding Down
Crude Oil Rises USD 0.35 to USD 101.46 per Barrel
Ethanol Stands at USD 2.18 per Gallon
Natural Gas Falls USD 0.02 to USD 3.48 per British Thermal Unit (Btu)
Silver Falls USD 0.14 to USD 32.53 per Troy Ounce
Gold Falls USD 1.00 to USD 1,729.60 per Troy Ounce
Dow Jones Industrial Average Rises 52.30 Points (0.43%) to 12,150.10
London FTSE Index Rises 31.28 Points (0.56%) to 5,600.00
Japan Nikkei Index Rises 147.01 Points (1.71%) to 8,722.17
Hong Kong Hang Seng Index Rises 298.35 Points (1.58%) to 19,240.60
Brazil Bovespa Index Rises 625.68 Points (1.06%) to 59,536.20

ING Groep NV Forced To Restructure

admin — Tue, 27 Oct 2009 15:55:27 +0000

After being bailed out with EUR 11B in emergency funds from the Dutch Government in October 2008, financial company ING Groep NV has been forced to restructure its business model.

ING Groep NV announced yesterday that as a part of an agreement with the European Commission to pay back its state aid early, the Bank will split its banking and insurance businesses, ultimately getting rid of the latter. ING said that it will sell its insurance units through initial public offerings over the next four years in order to focus solely on banking.

Overnight Market News – October 26, 2009

admin — Mon, 26 Oct 2009 15:49:46 +0000

ING Groep NV to Raise USD 11.3B in Rights Offering and Sell Insurance Businesses to Repay Government Debt
Commercial Real Estate Company, Capmark Financial Group Inc Files for Bankruptcy Protection
Electrolux AB Posts 93% Rise in Third-Quarter Net Profit to USD 236mm on Cost-Reduction
Petroleo Brasiliero SA Sells USD 4B in 10-Year and 30-Year Bonds in Overseas Debt Markets
South Korea’s Economy Grows 2.9% in Third Quarter, Fastest Pace in Over Seven Years
Lloyd’s Banking Group PLC to Announce Plans to Raise GBP 22.5B Through Rights Issue and Conversion of Subordinated Debt to Equity
Crude Oil Stands at USD 80.06 per Barrel
Ethanol Stands at USD 2.07 per Gallon
Natural Gas Stands at USD 4.74 per British Thermal Unit (Btu)
Gold Stands at USD 1,055.10 per Troy Ounce
Dow Jones Industrial Average Falls 109.13 Points (-1.08%)
London FTSE Index Rises 18.72 Points (0.36%)
Japan Nikkei Index Rises 79.63 Points (0.77%)
Hong Kong Hang Seng Index Rises 379.21 Points (1.71%)
Brazil Bovespa Index Falls 1,076.13 Points (-1.63%)

Overnight Market News – August 12, 2009

admin — Wed, 12 Aug 2009 15:17:46 +0000

Lloyds Banking Group to Sell Insight Investment Management Ltd to Bank of New York Mellon Corp for GBP 235mm or USD 386mm
BHP Billiton Ltd, the World’s Largest Miner Reports 65% Decline in Profits to USD 3.26B for Six Months Ended June on Fall-Off in Metal Prices and Demand
UK Unemployment Rises to Highest Level Since 1995 Losing 220k Jobs to 2.44mm in the Three Months Through June, Pushing the Jobless Rate to 7.8%
European Industrial Production Unexpectedly Falls in June by 0.6% from a Month Ago, Led by 4.2% Decline in Production of Consumer Durable Goods
Scandinavian Airline, SAS AG Second Quarter Net Loss Widens to USD 143mm, Plans to Slash 1,500 More Jobs in Cost Cutting Efforts
ING Groep NV, Dutch Financial Company Second Quarter Profit Falls 96% to EUR 71mm Down from EUR 1.92B a Year Ago on Rising Risk Provisions
Crude Oil Stands at USD 69.69 per Barrel
Ethanol Stands at USD 1.64 per Gallon
Natural Gas Stands at USD 3.55 per British Thermal Unit (Btu)
Gold Stands at USD 947.30 per Troy Ounce
Dow Jones Industrial Average Falls 96.50 Points (-1.03%)
London FTSE Index Rises 27.72 Points (0.59%)
Japan Nikkei Index Falls150.46 Points (-1.42%)
Hong Kong Hang Seng Index Falls 638.97 Points (-3.03%)
Brazil Bovespa Index Falls 1,068.85 Points (-1.88%)