ECONOMY & MARKETS

Finance Minister Urges Europe to Act Quickly

Finance minister urges Europe to act quickly
The ongoing European debt crisis is threatening the global economy and must be dealt with swiftly and decisively, Canada's finance minister Jim Flaherty said at a conference on Wednesday.

TSX to open up on China move, GDP eyed

TSX to open up on China move, GDP eyed
Toronto's main stock index was set to open higher on Wednesday, extending gains from the previous session after China unexpectedly cut its bank reserve requirement ratio by 50 basis points, and ahead of Canadian growth data.
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File image of the Nasdaq Composite stock market index seen inside their studios at Times Square in New York

NASDAQ 52-Week High Stocks on Tuesday (HAIN, PCYC, NTK, MGAM, MAGS, LARK, INHX, HITK, HALO, AKRX, ANCX)

Following are the stocks trading on Nasdaq that touched 52-week highs on Nov. 29. The new 52-week high indicates a stock is trading at its highest price in the past 52 weeks. This is an important indicator for many investors in determining the current value of a stock or predicting a trend in a stock's performance. One popular strategy employed by stock traders is to purchase companies hitting new highs.
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Global Stocks Hit by Fresh Bank Tremors

Stocks fell and the euro weakened Wednesday after Standard & Poor's hit some of the world's leading banks with a credit downgrade and euro zone leaders' move to ramp up the regional bailout fund drew a tepid response.
A pedestrian walks past the NASDAQ building in New York City

Post-Market NASDAQ Movers (LLEN, FIBK, MNTA, SGEN, AMLN, OVTI, SVNT, TCBI, SPPI, ARUN)

The top after-market NASDAQ stock market gainers are: L & L Energy, First Interstate Bancsystem, Momenta Pharmaceuticals, Seattle Genetics, and Amylin Pharmaceuticals. The top after-market NASDAQ stock market losers are: OmniVision Technologies, Savient Pharmaceuticals, Texas Capital BancShares, Spectrum Pharmaceuticals, and Aruba Networks.
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Caution on Eurozone Bailout Progress Hits Asian Shares

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
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Asian Shares Fall on Caution over Euro Bailout

Asian shares fell and the euro trimmed gains Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
Standard and Poor's

S&P Downgrades 37 Large Banks

Bank of America (NYSE:BAC) and Citigroup (NYSE:C) are among a group of 37 large financial institutions that were downgraded today by Standard & Poor's, according to Bloomberg News. The downgrades were somewhat expected, as S&P had announced earlier in the year it would be revising its methodology for rating banks in order to give more weight to those institutions' capital ratios.
An American Airlines jet touches down at the airport in Port-au-Prince

American Airlines Parent AMR Files for Bankruptcy, Names Thomas Horton as CEO

AMR Corp. (NYSE:AMR), the parent company of American Airlines, has filed for bankruptcy protection under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York to shed its debt load and reduce costs after failed negotiations with pilot unions and higher fuel costs forced the company to take the last resort.
Europe's Stock Markets

Europe's Markets Rise After Italian Bond Auction

European shares rose on Tuesday as short-term traders helped boost the market following good demand at an Italian bond auction despite soaring borrowing costs, while BASF rose after lifting its sales target.
Nikkei

Japan's Nikkei Rises 2%, But Europe Selling Caps Rally

The Nikkei average climbed more than 2 percent on Tuesday, closing at a two-week high on hopes that euro zone leaders were readying steps to ease the debt crisis and that a robust U.S. holiday shopping season was underway.
Traders work on the floor of the New York Stock Exchange

U.S. Stock Futures Mixed After Sharp Rally

Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 up 0.15 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.27 percent at 4:19 a.m. ET.
Petrol

Petrol Prices May be Cut by a Rupee - Source

The state refiners could cut petrol prices by an approximate price of Re. 1 per litre (or 1.5 percent), as softening Singapore spot gasoline prices have offset the impact of a declining rupee, an industry source said on Monday.
Gold, silver and other precious metals soar

Gold Gains Following Eurozone Optimism

Gold rebounded to a one-week high following the substitution of last week's selling pressures with expectations of a stronger effort by euro-zone leaders to stem the spread of the sovereign-debt crisis. Spot gold held steady above $1,700 per ounce on Tuesday.
TMX Group Inc.'s CEO Thomas Kloet poses before the company's annual shareholders meeting in Montreal

TMX deal must preserve Montreal's status: watchdog

A former Quebec premier wants regulators to seek assurances that Montreal remain the center of Canadian derivatives trading before they approve a proposed C$3.8 billion takeover of the country's largest exchange operator.
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Nexon Pushes Ahead with IPO as Hacking Impact Looms

Online gaming firm Nexon Co said on Monday it would raise up to 98 billion yen ($1.3 billion) in an initial public offering this month, pushing ahead with its planned listing even as a massive hacking attack threatens to dampen excitement for the stock.
Molten gold

Gold Prices Surge on Fresh Hope for Eurozone

Gold prices surged Monday as German and French leaders worked on emergency plan to save the Eurozone within weeks rather than months and strong U.S. retail buying bolstered equities.

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