After a midday rally in the green the Hang Seng slid to finish .5% in the red. China Coal Energy was the
index’s biggest loser at 2.79% down.
European shares start with a thud down 1.2% to a one week low. The banking, automotive,
construction & technology sectors were all down 1.1-1.4%. It seems everyone has given up hope on the
European Summit before it even begins. Individual stocks that took a beating today were Shire, after US
regulators ruled against the company’s generic copy of Adderall XR, and Nokia, down 7% after analysts
said its partner, Microsoft, may turn into a rival selling its own smartphones.
Netflix is up this morning in pre-trade after being upgraded to neutral from sell and its current price,
$67, being rated as fair value.
Amazon has struck a deal to supply LoveFilm, its streaming service, with content from News Corp’s 20 th
century fox movie and TV library.
Commodities are starting the week mixed, with silver down and crude continuing its slide, and gold and
natural gas looking upward.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu