The top after-market NASDAQ gainers Thursday were: Arena Pharmaceuticals, Inc., Brooks Automation, Inc., Orexigen Therapeutics, Inc., Mindspeed Technologies, Inc. and Leap Wireless International, Inc. The top after-market NASDAQ losers were: Amtech Systems, Inc., American Public Education, Inc., Codexis, Inc., Nuance Communications, Inc. and SciClone Pharmaceuticals, Inc.
Cuadrilla Resources to start fracking in the UK. Image: Reuters. The UK Shale gas explorer Cuadrilla Resources is expected to start fracking soon and may resume gas production by 2014, it has been reported
Newspapers are displayed next to traders from Interactive Investor in their office in Glasgow GERMANY Chancellor Angela Merkel said Wednesday that Eurozone nations must stick to their previous commitments on budget consolidation and fiscal disciple as the newly agreed European Fiscal Pact inched closer to unravelling. In a joint statement with Slovenia's Prime Minister, Janez Jansa, Merkel said "we must stick to the programmes and the rules that have been agreed.
Commerzbank Bank CEO Martin Blessing arrives for his second day of questioning in the UK trial between the German bank and former staff at its investment banking subsidiary at the High Court in central London Commerzbank , Germany's second-biggest lender, must pay more than €50m in promised bonus and performance payments to more than 100 London -based traders after a High Court decision Wednesday. Judge Robert Owen ordered the Frankfurt-based bank, which received more than €18bn in German taxpayer support to prevent its collapse in 2008, to pay bonuses guaranteed by its former investment banking unit, Dresdner Kleinwort, the very same year. The bankers claimed the promise, made by Dresdner's former CEO Stefan Jentzsch, to pay bonus and incentive payments were legally binding and that Commerzbank's decision not to honour the agreements earlier this year amounted to a breach of contract
Traders are pictured at their desks at the Frankfurt stock exchange Spanish shares slumped and its benchmark borrowing costs spiked as investors switched focus to yet another indebted European economy as the region's financial crisis intensifies.
CEO of Allianz SE Diekmann smiles before news conference in Munich Allianz said it expects first quarter profits to rise more than 50 percent after fewer-than-expected payouts for natural disasters in the first three months of this year. In a statement released in advance of next week's formal earnings report, Europe's biggest insurance group said net income should reach €1.4bn while operating profit should rise by at least 53 percent to €2.3bn
A Carlsberg beer logo is seen at a pub in central London Carlsberg posted a 43 percent slump in first quarter profits as new tax rules in Russia , its biggest markets, hit sales. The world's fourth-largest brewing company said net income for the three months ending in March fell to 574m Danish kroner (£62.1), well shy of analysts' estimates, even as sales rose slightly on the period to 12.9bn Danish kroner. "In the traditionally small first quarter of the year, the group delivered continued solid growth and performance in Northern and Western Europe and Asia, while destocking impacted our Russia n results as expected," said CEO Jorgen Buhl Rasmussen
European shares hit five-month low European shares posted sharp declines and the single currency fell to a five-month low Tuesday after Alexis Tsipras, the leader of the Left Coalition party tasked with forming a new government in Greece, said voters have rejected the terms of the EU and IMF -led bailouts, declaring the austerity terms linked to them "null and void." The euro sank below $1.30 after the statement and shares across the region gave back modest earlier gains as Tsipras seemed to suggest a wholesale withdraw from the €174 billion bailout if his Syriza party is able to form a new government after failed attempts by the election's first-place finisher, New Democracy. "The popular verdict clearly renders the bailout deal null," he told reporters in Athens, adding that he wants an international commission to examine if terms of the so-called PSI portion of the bailout is legal. The broadest measure of blue chip share price performance, the FTSE Eurofirst 300, slid 1.4 percent after the statement, reversing an earlier gain, to trade at 1,020.15, the lowest level since early January. German bund futures for June delivery hit an all-time high of 142.46 as traders bet on a flight to safety as investors and pension funds exit riskier markets.
Futures on major US stock indices point to a lower opening Tuesday as growing concerns over political instability in Greece weighed on sentiment. Futures on the S&P 500 are down 0.61 percent, futures on the Dow Jones Industrial Average are down 0.54 percent and Nasdaq 100 futures are down 0.68 percent.
House prices in the UK fell in April after the end of a stamp duty holiday for first time buyers and with poor weather limiting viewings (Reuters) UK house prices dropped at their quickest rate for six months in April, according to the Royal Institute of Chartered Surveyors (RICS), in yet another set of worrying data for Britain's homeowners. Poor weather and the end of a stamp duty holiday for first time buyers in March dragged UK house prices down as viewings dwindled and demand slipped