Latest News In Stock Market Investment Research – June 11, 2010

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U.S. gasoline prices down 7% in a month

11 Jun 2010 at 4:19am

NEW YORK (MarketWatch) — Average U.S. retail prices at the pump totaled $2.70 a gallon on Friday, down from $2.90 a month ago, according to the AAA Daily Fuel Gauge Report. Prices averaged $2.63 a gallon over the same period a year ago.

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Qualcomm spends $1.05bln on Indian spectrum

11 Jun 2010 at 4:12am

LONDON (MarketWatch) — Qualcomm on Friday said it has provisionally won Broadband Wireless Access (BWA)spectrum in the 2.3 GHz band in four telecom circles in India with a $1.05 billion bid. It will soon announce its Indian partners.

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Study: Cheaper Roche drug can prevent blindness

11 Jun 2010 at 4:10am

LONDON (MarketWatch) — Avastin is a cheaper alternative than Lucentis in preventing blindness, according to a study in the British Medical Journal, Dow Jones Newswires reported. Both drugs are made by Roche

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EU to lend oil containment equipment to BP

11 Jun 2010 at 3:46am

LONDON (MarketWatch) — The EU will lend oil-containment equipment to BP to help it manage a massive oil leak in the Gulf of Mexico. The request is for various types of booms to restrict the oil spreading, the EU said in a statement.

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Spanish stocks up over 4%, led by banks

11 Jun 2010 at 3:20am

MADRID (MarketWatch) — The Spanish IBEX-35 soared 4% on Friday, up 380 points to 9,583.50, in the wake of a string of mergers in the financial sector and on the heels of a successful bond auction on Thursday. Traders were noting that that action was driving investors to cover short positions on major banks. Heavyweight Santander rose 8%, while BBVA gained 6.5%. Banco de Sabadell rose 7.5%, announcing Friday it will merge with smaller Banco Guipuzcoano , on the heels of another savings bank merger announced the prior day. Other domestic banks were also soaring: Bankinter , up 10%, Banco Popular Espanol and up 7.9%. At its annual general meeting on Friday Santander’s Chairman Emilio Botin, said he expects the group’s profits to be similar to 2009, Dow Jones Newswires reported.

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Siemens nets 500 million euros to link wind farms

11 Jun 2010 at 3:20am

LONDON (MarketWatch) — Siemens on Friday said it received an order worth 500 million euros ($606 million) from the German transmission grid company Transpower to connect its offshore wind farms. The two farms are located in the North Sea and will have a combined power generating capacity of 800 megawatts once they are linked.

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FSA’s Dewar to step down in May

11 Jun 2010 at 2:22am

LONDON (MarketWatch) — Sally Dewar, the U.K. Financial Services Authority’s managing director of risk plans to step down in May next year, ruling herself out as a potential successor to Hector Sants, the regulator’s chief executive. “Having reflected and made the decision not to put myself forward for the chief executive role, regardless of future regulatory structure, I feel that now is the right time for me to step down,” Dewar said. Her decision comes as the regulator faces a major shake-up, with Chancellor George Osborne expected to outline his plans next week. The Conservative Party had been planning to return responsibility for banking supervision to the Bank of England, but the plan was dropped as part of its deal to create a coalition government with the Liberal Democrats.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Volkswagen posts 8.6% gain in May global sales

11 Jun 2010 at 2:18am

LONDON (MarketWatch) — Volkswagen Group on Friday reported an 8.6% improvement in May global sales to 604,200 vehicles. Since the beginning of the year, the Wolfsburg, Germany-based automaker has sold a total of 2.94 million vehicles worldwide, an 18.1% rise when compared with the same period a year ago. The company said, despite the better numbers, 2010 remains a “challenging year” for the automotive industry.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Spain says not seeking EU aid: report

11 Jun 2010 at 2:11am

LONDON (MarketWatch) — A spokesperson for Spain’s economy ministry on Friday said the country had not requested aid from the European Union and would not do so, Reuters reported, after a German newspaper said the EU was making preparations to activate a rescue package in the event it was needed. “This is lie. There’s no rescue. There’s nothing asked for, nor will there be, nothing but nothing,” the spokesperson said, according to Reuters. FT Deutschland, without citing sources, said euro-zone countries are preparing a package in the event the Spain’s banking problems force Madrid to seek assistance.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.K. May manufacturing output sees 0.4% fall

11 Jun 2010 at 1:48am

LONDON (MarketWatch) — British total manufacturing output fell 0.4% in April, the Office for National Statistics reported Friday. Compared to the same month last year, output rose 3.4%. Economists had forecast a monthly rise of 0.4% and an annual rise of 2.8%. The broader industrial production measure also showed a 0.4% decline in April. Production was up 2.1% compared to April 2009. Separately, the ONS said the prices of goods leaving U.K. factories, known as output producer prices, rose 0.3% in May and were up 5.7% compared to the same month last year. The monthly rise matched forecasts, while annual output PPI was projected to rise 5.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.K. May inflation expectations rise: BOE survey

11 Jun 2010 at 1:39am

LONDON (MarketWatch) — British inflation expectations rose over the last quarter, according to the Bank of England’s latest quarterly survey published Friday. The survey, conducted last month, found median expectations for consumer price inflation over the next 12 months of 3.3%, up from 2.5% in February and the highest since August 2008. Asked to give the current rate of inflation, respondents gave a median answer of 3.6%, up from 3.3% in February. Fifty-two percent of respondents said they expected interest rates to rise over the next 12 months, compared with 54% in February. Six percent said they expected rates to fall, in line with responses over the last couple of quarters, the BOE said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


South Korea to unveil new forex rules

11 Jun 2010 at 1:29am

HONG KONG (MarketWatch) — South Korea is about to announce new rules on foreign exchange transactions that will encompass restrictions on derivatives, according to reports Friday. The measures, designed to reduce volatility of foreign capital flows and help stabilize the won, will likely be enacted “the next few days,” according to reports, which cited an unidentified South Korean government official.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Brit Insurance shares surge after bid approach

11 Jun 2010 at 12:27am

LONDON (MarketWatch) — Shares in Brit Insurance Holdings jumped 21% on the London Stock Exchange Friday after the group said it had received, and rejected, an unsolicited indicative offer from a private equity group. In the announcement late Thursday, Brit said the proposal significantly undervalued the firm and has advised the private equity group “that it does not represent a basis on which the board is prepared to engage in any further discussions.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


UBS reportedly faces Luxembourg probe

11 Jun 2010 at 12:23am

LONDON (MarketWatch) — Switzerland’s UBS is facing a preliminary forgery investigation by prosecutors in Luxembourg over how it oversaw funds linked to Bernard Madoff, according to media reports citing Luxembourg police. Wealth management giant UBS was the custodian for the LuxAlpha and the Luxembourg Investment Fund, which were forced to suspend customer redemptions after Madoff was arrested for fraud. The two funds have also been at the center of numerous lawsuits as investors have sued to recover their lost money.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


India’s April industrial output surges 17.6%

11 Jun 2010 at 12:21am

HONG KONG (MarketWatch) — India’s industrial output in April jumped 17.6% from the same month a year earlier, trouncing estimates, according to figures released Friday, on robust growth in the manufacturing sector and buoyant mining activity. The percentage growth was aided by weaker growth a year earlier, when the nation’s industrial production added just 1.1%. The expansion was stronger than the median forecast of 13.5% in a Reuters survey of analysts.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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June 11 2010 03:48 am | Stock Market News

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