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Aug 27, 2013

FTC to Host Roundtable on Consumer Protection and the New Healthcare Marketplaces: FTC | Roundtables


 
The Federal Trade Commission, the nation’s consumer protection agency, will host a roundtable in Washington, DC, on September 19, 2013, to discuss how to empower and protect consumers from scammers with the advent of healthcare marketplaces opening this fall under the Affordable Care Act (ACA).
Scammers follow the headlines, often seeking to exploit interest in new high-profile programs and developments in the marketplace.  This discussion will bring together experts on the ACA, federal and state consumer protection officials, representatives of legal services and community-based organizations, and consumer advocates to discuss key features of the law, state approaches to implementation, and how to help consumers avoid potential scams. 
           
“Consumer Protection and the Healthcare Marketplace” will take place from 9 a.m. to 12:15 p.m. in the  FTC’s Satellite Building Conference Center, Room C, 601 New Jersey Avenue, NW, Washington, DC.  The event will be webcast.  Space is limited.  To register to attend, please send an email with your name and organization to Tracey Thomas at tthomas@ftc.gov.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them.  To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.
MEDIA CONTACT:
Office of Public Affairs
202-326-2180

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More news from the FTC >>

Gerald Celente - The Truthseeker - RTTV - August 25, 2013

New York Times website likely taken down by malicious attack by CNBC News Headlines August 27, 2013.


Adam Jeffery | CNBC
The New York Times building in New York City.
 
The New York Times said its website has been taken down, in what was likely an external malicious attack Tuesday.

(Read more: New York Times suffers outage; Twitter experiencing hiccups, too )
Eileen Murphy, VP of corporate communications, initially reported the outage via Twitter.

While the Times was down, Twitter also experienced some hiccups on its website. A Twitter account for the group of hackers called the Syrian Electronic Army claimed that it had attacked the social media website and changed the ownership listing of Twitter's domain name registration.The same account later posted to Twitter that it had also taken over the registrations for the Times website and for the Huffington Post UK domain.

Twitter told CNBC that it was investigating the issue.
Twitter's website is currently functioning, however, some Twitter users are reporting that they can no longer see images on the site.

Read more :  http://www.cnbc.com/id/100988768

DealBook P.M. Edition August 27, 2013: Spanish Authorities Arrest Former JPMorgan Employee.



TOP STORY
Preet Bharara, the United States attorney in Manhattan , announced the charges against two derivative traders Javier Martin Araujo and Julien Grout, in New york on august 14 .
Spanish Authorities Arrest Former JPMorgan Employee The Spanish police say Javier Martin-Artajo surrendered on Tuesday morning, and his case will now be handled by Spain's national court.
DEALBOOK »

DEALBOOK HIGHLIGHTS
Bank Executive Admits to Using Bailout Money to Buy Condo Darryl Layne Woods, the former chairman of Mainstreet Bank in Missouri, used a good portion of the $1 million in bailout money that his bank received to buy himself a luxury vacation condo in Florida.
After Ackman's Exit, J.C. Penney Remains a Hedge Fund Play Several of William A. Ackman's rivals in the hedge fund world aren't bailing out of the troubled retailer just yet.
Standard Deduction: A Holiday From Taxes, and Often From the Strings Attached Tax policy experts are suspicious of tax holidays, and most experts question the effectiveness of attaching restrictions to such legislation. Many companies find a way around them, says Victor Fleischer.
LOOKING AHEAD
Economic Data Data to be released this week include pending home sales for June, and weekly mortgage applications (Wednesday); revised second-quarter gross domestic product, and new weekly unemployment claims (Thursday); and personal income and spending for July, the Institute for Supply Management survey of Chicago purchasing managers for August, and the University of Michigan consumer confidence survey for August (Friday).
Corporate Earnings Companies scheduled to report results include Accor (Wednesday); Campbell Soup, Krispy Kreme, Salesforce.com, Carrefour, L'Oréal, Pernod Ricard and Vivendi (Thursday); and Hermès International (Friday).
Overseas On Wednesday, Brazil's central bank will issue its decision on the nation's benchmark interest rate, and the new governor of the Bank of England, Mark J. Carney, is set to deliver his first policy address.

On Thursday, Japan will report on retail sales in July, Germany will report on unemployment in August, and Spain will report on revisions in its estimate for its gross domestic product in the second quarter



Quotation of the Day
"At a time when many other Americans were losing their homes, he was siphoning off public funds to buy a luxury vacation condo in Florida." Tammy Dickinson, the United States attorney for the Western District of Missouri, on a bank executive pleading guilty to misusing bailout money.

Wall Street at Close Report by MarketWatch August 27, 2013.: U.S. stocks drop on Syria; Dow at 2-month low.

U.S. stocks drop on Syria; Dow at 2-month low

By Kate Gibson, MarketWatch 
 
NEW YORK (MarketWatch)U.S. stocks fell hard on Tuesday, with the Dow ending at a two-month low, as unease over possible U.S. action against Syria shook global markets. 

Gold rose to a three-month high, bonds rallied, and crude oil closed above $109 a barrel for the first time since early last year. 


“Global events are taking the forefront here. Hearing that the U.S. may be more aggressive with Syria set a negative tone to the market,” said Brad Sorensen, director of market and sector analysis at Charles Schwab.
“Any time there are rumors of military conflict, the first reaction is to pull back. But I don’t think it’s anything that will be sustained. U.S. assets aren’t particularly threatened and oil production isn’t in danger,” added Sorensen. He cautioned against making too much of Wall Street’s action in the week ahead of the long Labor Day weekend, given that many traders are on vacation and trading volume is low.
The Dow Jones Industrial Average DJIA -1.14%   shed 170.33 points, or 1.1%, to 14,776.13, with Bank of America Corp. BAC +0.07%   and Microsoft Corp. MSFT +0.06%   pacing declines that included all but two of its 30 components.
In its worst session since June 20, the S&P 500 index SPX -1.59%   lost 26.30 points, or 1.6%, to 1,630.48, with financial and technology hardest hit and utilities faring best among its 10 major sectors, all of which closed lower.
The Nasdaq Composite COMP -2.16%   declined 79.05 points, or 2.2%, to 3,578.52, with the technology-heavy index suffering its worst point loss this year.
For every stock rising, four fell on the New York Stock Exchange, where 683 million shares traded. Composite volume cleared 3.2 billion. 


Syrian violence roils markets
World markets dropped this morning with fears of a possible U.S. military strike against Syria, Facebook stock is nearing a record high, and the latest indication that the new-home market is catering to older, affluent buyers. Photo: AP

Wall Street erased gains late Monday after Secretary of State John Kerry said the United States would hold Syria accountable for using chemical weapons that opposition groups contend killed more than 1,300 people.
“The threat of U.S. intervention in Syria in any form was enough for traders to look down positions and move to the sidelines,” Fred Dickson, chief investment strategist at Davidson Cos., wrote in emailed commentary.
Defense Secretary Chuck Hagel said in a televised interview with the BBC that U.S. forces in the region are ready should President Barack Obama order action against Syria.
On Tuesday, the unease over tensions in the Middle East had the Chicago Board Options Exchange Volatility Index VIX +11.88% , or VIX, surging nearly 12%. 

Investors soaked up benchmark government debt and precious metals in a flight to safety.
The yield on the 10-year Treasury note 10_YEAR -2.76% , used in determining mortgage rates and other consumer loans, fell 8 basis points to 2.714%. Yields move opposite to prices.
The dollar DXY -0.30%  slipped against the currencies of major U.S. trading partners, including the yen USDJPY -1.52%  and the euro EURUSD +0.16%  .
Gold futures GCZ3 +1.60%   jumped $27.10, or 2%, to $1,420.20 an ounce, pushing gold into a bull market off its June lows. Crude-oil futures CLV3 +2.83%   gained $3.09, or 2.9%, to $109.01 a barrel.
The retreat in U.S. equities followed the biggest dip in nine weeks by European stocks, while the MSCI Emerging Markets Index EEM +0.25%   fell 1.8% and most Asian markets ended lower. Read more about global impact in Market Extra.
Wall Street’s reaction to Tuesday’s economic reports was negligible.
Consumer confidence rose a bit in August, according to the Conference Board, with sentiment improving some on jobs and earnings prospects.
A separate report had U.S. home prices rising in June, with stock-index futures holding their losses in the wake of the data.
“The economic reports, while decent, don’t seem to be having much of an impact on today’s market,” noted Sorensen, who observed investors were even more blase’ about word from the Treasury Department on Monday that the U.S. would reach its capacity to pay its bills in mid-October.
“I don’t think that’s a big surprise; everybody knew the debt ceiling would be hit in October. We’ll see more reaction once Congress gets back in session after the Labor Day holiday,” he said.
Treasury Secretary Jacob Lew repeated Tuesday that the White House would not negotiate over the debt limit, saying he believes members of Congress understand the importance of the nation meeting its obligations.

Bloomberg Enlarge Image
Bill Ackman of Pershing Square.
Among Tuesday’s movers, J.C. Penney Co. JCP +0.08%   declined 1.4% after Bill Ackman’s Pershing Square Capital Management LP sold its holdings in the department-store chain for $504 million.
Other notable decliners included Advanced Micro Devices Inc AMD -0.60% , its shares down 5.3%, and First Solar Inc FSLR -0.03%  , off 5%.
Shares of Goodyear Tire & Rubber Co. GT +0.84%   advanced 2%. 



Kate Gibson is a reporter for MarketWatch, based in New York.

Wall Street at Close Report by CNBC August 27, 2013: Stocks end near lows, Dow skids over 150 as Syria fears escalate; Vix spikes 12%

Stocks end near lows, Dow skids over 150 as Syria fears escalate; Vix spikes 12%

Stocks finished sharply lower for a second session Tuesday, with the Dow falling to a two-month low, amid escalating worries over potential U.S. military action in Syria.
Defense Secretary Chuck Hagel told the BBC the U.S. military is "ready to go" if President Barack Obama orders action over a chemical weapons attack in Syria.
Meanwhile, NBC News reported the U.S. could launch a missile strike against Syria "as early as Thursday."
Name Price Change %Change
DJIA Dow Jones Industrial Average 14776.13
-170.33   -1.14%
SandP 500 S&P 500 Index   1630.48
  
  -26.30 -1.59%
NASDAQ Nasdaq Composite Index   3578.52
  -79.05 -2.16%

The Dow Jones Industrial Average dropped more than 150 points, led by Bank of America and Microsoft. The blue-chip index posted its 13th decline this month, the most number of drops in a month since July 2012.
The SandP 500 and the Nasdaq also fell sharply, posting their worst day in two months. The Dow and S&P 500 are on track for their biggest monthly declines since May 2012.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, spiked near 17.
All key SandP sectors closed in the red, dragged by techs and financials. 
What's causing the sell-off?
Alan Valdes, DME Securities, joins to discuss today's market movements. "Underlying numbers were very good today, but uncertainty is weighing on the markets," he says.
Art Cashin, director of floor operations at UBS Financial Services said he is worried about the situation in Syria, calling it "another wide-open variable." "I know some people are dismissing it as an excuse for a market that was looking to go down, but I think if you look at things like the spread between Brent and West Texas beginning to spread out, that tells you there is some real concern," he said. (Read more: Cramer: This is the 'go-to' sector, despite Syria) Oil prices settled above $109 a barrel, its best one-day gain of the year, amid worries that potential military action in the Middle East could disrupt oil production. John Kilduff of Again Capital said that Syria's location was vital, even though it is not a major oil exporter. "It's clearly become a proxy war for almost the whole region," said Kilduff. "What's happening is you have Egypt and Syria that are not oil producers…You have a tight market and two significant flash points, and it keeps getting undermined by things like the problems with the Libyan oil, the lack of Iranian oil." (Read more: Is a spike in oil prices around the corner?) And Treasury prices gained. The benchmark 10-year Treasury yield eased to to 2.76 percent from 2.79 percent late Monday. Separately, the Treasury auctioned $24 billion in 2-year notes at a high yield of 0.386 percent. The bid-to-cover ratio, an indicator of demand, was 3.21, versus a recent average of 3.48. Gold prices rallied to a 15-week high as the geopolitical tension sparked a flight to safer investments. European stocks suffered their biggest daily drop in two months. On Monday, U.S. Secretary of State John Kerry said he believed Syria had used chemical weapons on its own people, and that the Syrian government must be held to account. "I think [the Fed] desperately would love to taper but it's going to be difficult at this point for Mr. Bernanke to keep a straight face and say that this is a data-driven decision," said Cashin. "So far, the data's been lousy and unless he gets a miracle with the non-farm payrolls, I think it's going to be tough to justify tapering." (Read more: Get ready for a'massive interest rate shock' soon) Patrick Kernan of Cardinal Capital who trades S&P 500 options said the CBOE pit has been busier Tuesday than in recent sessions. "But it is by no means crazy," he said. "Customers were buying short-dated options this morning and as the day progressed, people have been buying longer-dated options, to the end of the year. They've been moving their volatility buys further out." Investors seem to be protecting more against a downside move, he said.
JCPenney slumped after Pershing Square's Bill Ackman sold his entire 18-percent stake in the retailer, totaling nearly 39 million shares. Ackman quit the board two weeks ago amid clashes with the company and other directors over strategy. BlackBerry is considering spinning off BlackBerry Messenger into a subsidiary called BBM, according to a report from Dow Jones, citing sources familiar with the matter. Among earnings, Tiffany raised its earnings forecast for the year as robust sales in China and higher prices helped offset weak business in the U.S. Still, shares of the upscale jewelry retailer finished lower, along with the broader market. TiVo is scheduled to post earnings after the closing bell. On the economic front, home prices gained 0.9 percent in June on a seasonally-adjusted basis, according to the S&P/Case Shiller composite index. On a non-adjusted basis, prices rose 2.2 percent. Compared to a year earlier, prices were up 12.1 percent, in line with economists' expectations. (Read more: As investors shift,housing is the new stock market) And consumer confidence gained to 81.5 in August, according to the Conference Board, topping expectations for 79.1. Monday's weaker-than-expected manufacturing data boosted hopes for a later start to the scaling back of Federal Reserve asset purchases. (Read more: US durable goods plunge in July, cash shadow over Q3) "Recent data releases are consistent with the U.S. economy still remaining in a soft patch in early third quarter. However, it only marginally argues against the Fed tapering quantitative easing in September," said Bank of Tokyo-Mitsubishi's Lee Hardman in a research note. (Read more: Insider says Summers may be named Fed chief soon)
—By CNBC's JeeYeon Park (Follow JeeYeon on Twitter:

US Intervention in Syria Odds Raised: MoneyShow Investors Daily Alert August 27, 2013.


INVESTORS DAILY ALERT
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
GURUS' VIEWS & STRATEGIES
What's Next for Munis?, Mark Salzinger
CHARTS IN PLAY
IDEAS FROM AROUND THE WORLD
Today's Featured Videos
A Non-Traditional MLP, Elliott Gue

NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS AUGUST 27, 2013: 10 Questions for Jacob Lew

| MY ALERTS


FGC BOLSA- FGC FIN

Compiled: August 27, 2013 02:35:57 PM

The Caucus

10 Questions for Jacob Lew
The Treasury secretary spoke to John Harwood about extending government funding past Sept. 30, dealing with the so-called budget sequester and raising the federal debt limit.

CMI | Spot Prices as of Close of Trading Date in New York August 27, 2013.

Spot Prices as of close of trading in New York
Tuesday, August 27, 2013
Updated 8/27/2013 Today Change Week Ago Month Ago Year Ago
GOLD $1,422.05 +$27.20 $1,374.15 $1,323.45 $1,674.50
SILVER $24.73 +$0.65 $23.12 $19.83 $31.15
PLATINUM $1,535.30 -$12.50 $1,528.40 $1,426.50 $1,556.50
PALLADIUM $753.10 +$4.30 $753.30 $726.50 $658.40
GOLD/SILVER RATIO 57.50


BIV Today's Business News August 27, 2013: BC Chamber joins litigation to push for open borders.




Economy and Finance

Peace Arch border crossing

BC Chamber joins litigation to push for open borders

The BC Chamber of Commerce has joined a group
pushing back against border measures that it says pose
a serious threat to B.C. businesses and ... READ MORE

Mining and Energy

 

Joint Review Panel
requests public
comment on Site C
hearings

A three-person panel jointly appointed by the federal and B.C. governments to review BC Hydro’s Site C dam is requesting comments from the public about how to ... READ MORE

Real Estate and Development

 

B.C. housing
affordability down
in Q2: RBC

Housing affordability in British Columbia declined in 2013’s second quarter, according ... READ MORE

Ports and Shipping

 

Port Metro Vancouver reports increased volumes

The volume of cargo shipped through Port Metro Vancouver (PMV) was up in the first half of ... READ MORE

More News...

   

Vivity Labs launches Fit Brains training app for kids

UBC signs academic co-operation agreement with China’s Chongqing government

This Week's Issue

 

Investment regulators keep lid on social media

Despite the growing use of Twitter and Facebook as an investor tool, Canadian regulations are still focused on enforcing ... READ MORE

NYT | Opinion Today August 27, 2013: Egypt's Journalists, Still Under Siege

August 27, 2013

Opinion Today



Op-Ed Contributor

Egypt's Journalists, Still Under Siege

By IBRAHIM ESSA
Since the beginning of my career, I have faced accusations of blasphemy and death threats. It's as if terrorism will never end in Egypt.
Opinionator | Draft

Don't Ask What I'm Writing

By MARK SLOUKA
Want to lose a friend who's a writer? Ask her, a month in, how it's going.
The Two Cultures of Educational Reform
Opinionator

The Two Cultures of Educational Reform

By STANLEY FISH
Online teaching - its possibilities and its deadly caveats.
Op-Ed Contributor

The Risk Pool

By JENNIFER FINNEY BOYLAN
At the start of another school year, parents, remember: if we never give our children permission to get things wrong, they're unlikely to ever learn how to get things right.
The Plight of the Black P.O.W.
Opinionator | Disunion

The Plight of the Black P.O.W.

By THOMAS J. WARD JR.
African-American soldiers captured during the Civil War faced harrowing, often deadly treatment at the hands of the Confederates.
From Lynas to Pollan, Agreement that Golden Rice Trials Should Proceed
Dot Earth Blog

From Lynas to Pollan, Agreement that Golden Rice Trials Should Proceed

By ANDREW C. REVKIN
Two recent reports by journalists strip away distortions and myths surrounding the controversy over genetically engineered Golden Rice.
ADVERTISEMENT
Editorial

Responding to Syrian Atrocities

By THE EDITORIAL BOARD
Any military response by President Obama should be carefully targeted and backed by international support.
Editorial

Dangerous Ticks

By THE EDITORIAL BOARD
More research is needed to control Lyme disease and other tick-borne illnesses.
Editorial

Inside Donald Trump's University

By THE EDITORIAL BOARD
A lawsuit offers compelling evidence of Mr. Trump's bait-and-switch scheme that affected thousands of people.

The Opinion Pages

Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
Ted Cruz Plays Two Truths and a Lie
Taking Note

Ted Cruz Plays Two Truths and a Lie

By JULIET LAPIDOS
The senator refused to concede that the president would never sign a bill to defund healthcare reform.
What Joseph Bottum Wants
Evaluations

What Joseph Bottum Wants

By ROSS DOUTHAT
On the conservative Catholic's case for same-sex marriage.
The Real Trouble With Economics
The Conscience of a Liberal

The Real Trouble With Economics

By PAUL KRUGMAN
It's the economists, stupid.
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ADVFN III Evening Euro Markets Bulletin August 27, 2013.


ADVFN III Evening Euro Markets Bulletin
Daily world financial news Tuesday, 27 August 2013


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London close: Syrian crisis hits stocks despite upbeat economic data
Data showing improving confidence in Germany and the States wasn't enough to lift markets on Tuesday as investor sentiment was rattled by escalating tensions between Syria and the West.

Business confidence in Germany improved across the board in August as the Eurozone's largest economy continues to build momentum. The IFO report, based on a survey of 7,000 German executives, came in better than expected this morning with the business climate, current assessment and expectations sub-indices all showing improvement month-on-month.

Meanwhile, the index of US consumer confidence as measured by the Conference Board edged higher this month, surprising analysts who had expected a slightly decline.

Investors however largely shrugged off the figures with markets cementing losses made in early trading. The FTSE 100 in London finished down 51.13 points at 6,440.97.

Senior Market Analyst Michael Hewson from CMC Markets said: "The uncertainty being created by the potential for some form of military action in Syria, political uncertainty in Italy and the timing of a Fed tapering programme appears to have convinced a lot of people that the risks of getting involved in these markets somewhat outweighs any potential rewards, hence today's sharp falls."

Oil gains on Syrian crisis

Oil prices rose strongly today on concerns that heightened tensions in Syria could disrupt Middle East supplies. Brent crude for October delivery was trading at a six-month high of $113.97 a barrel (+2.93% on the day) by the close in London.

US Secretary of State John Kerry said last night that Syria would be held accountable for the "moral obscenity" of an alleged chemical weapons attack that has killed well over a thousand people. "By any standard it is inexcusable," he said, sparking speculation of a potential US involvement in the Syrian crisis.

Defense Secretary Chuck Hagel said that the US has "assets in place" and forces are "ready to go" if intervention is decided. Meanwhile, UK Prime Minister David Cameron cut his holiday short and recalled parliament to vote on possible response to last week's attack.

Syrian Foreign Minister Walid al-Muallem responded by saying that the government - which has not yet claimed responsibility - wouldn't step down and its defences would "surprise" those wanting to step in.

FTSE 100: Petrofac jumps on confident outlook

Oilfield services group Petrofac surged today after saying it remains on track to deliver growth this year despite both revenues and profits slipping in the first half. The company reiterated that the full year would be significantly weighted to the second half as it delivered results that beat consensus forecasts on most fronts.

Oil producers meanwhile were making gains as crude prices rose on the back of tensions in the Middle East. BP, Shell and BG Group were registering decent gains by the close.

Investec was weighing on the share price of airline group IAG after downgrading the stock from 'buy' to 'hold' following its near-70% jump so far this year (as of Friday's closing price). The broker said that rising capacity and stubbornly-high fuel prices will act as headwinds for the industry in 2014.

Royal Bank of Scotland slipped after the Financial Times reported that MPs were stepping up their campaign to split the lender into a 'good bank' and 'bad bank'.

Antofagasta was also a heavy faller after reporting that revenues in the first half dropped 12.1% to $2.7bn, reflecting a decline in copper prices and increased costs. Precious metals peers Fresnillo and Randgold however were high risers as gold and silver prices edged higher.

Retail firms M&S and Next were performing well after the stocks had their ratings upgraded by Citigroup and Bank of America, respectively.

FTSE 250: Polymetal hit by broker downgrade

While resource stocks such as Centamin, Premier Oil and African Barrick Gold tracked commodity prices higher today, precious metals group Polymetal was hit by a downgrade from HSBC to 'neutral'.

In contrast, UBM was performing well after UBS lifted the media and events firm to 'buy', adding the stock to its 'Most Preferred' list. After a period of underperformance, the Swiss bank says that UBM's valuation is "too cheap".


FTSE 100 - Risers
Petrofac Ltd. (PFC) 1,373.00p +8.54%
Fresnillo (FRES) 1,310.00p +7.11%
Randgold Resources Ltd. (RRS) 5,335.00p +4.10%
BG Group (BG.) 1,210.00p +2.37%
Bunzl (BNZL) 1,376.00p +1.62%
Marks & Spencer Group (MKS) 479.10p +1.59%
Next (NXT) 4,990.00p +1.51%
Royal Dutch Shell 'A' (RDSA) 2,092.50p +1.43%
Morrison (Wm) Supermarkets (MRW) 296.90p +1.40%
Royal Dutch Shell 'B' (RDSB) 2,177.00p +1.35%

FTSE 100 - Fallers
International Consolidated Airlines Group SA (CDI) (IAG) 300.50p -4.84%
GKN (GKN) 331.40p -4.25%
Royal Bank of Scotland Group (RBS) 330.10p -4.12%
Aberdeen Asset Management (ADN) 352.00p -4.01%
Eurasian Natural Resources Corp. (ENRC) 215.00p -3.85%
TUI Travel (TT.) 343.90p -3.78%
Wolseley (WOS) 3,230.00p -3.70%
Standard Chartered (STAN) 1,437.50p -3.69%
IMI (IMI) 1,451.00p -3.52%
CRH (CRH) 1,358.00p -3.35%

FTSE 250 - Risers
Perform Group (PER) 520.50p +3.38%
Premier Oil (PMO) 355.30p +3.25%
Centamin (DI) (CEY) 41.00p +3.14%
Genus (GNS) 1,490.00p +2.90%
Ocado Group (OCDO) 298.70p +2.65%
Alent (ALNT) 345.90p +2.61%
African Barrick Gold (ABG) 170.30p +2.34%
Menzies(John) (MNZS) 775.00p +2.31%
Cranswick (CWK) 1,155.00p +2.12%
Cairn Energy (CNE) 278.10p +1.94%

FTSE 250 - Fallers
Thomas Cook Group (TCG) 136.10p -8.47%
Polymetal International (POLY) 741.00p -8.46%
JPMorgan Indian Inv Trust (JII) 284.70p -7.32%
Hochschild Mining (HOC) 223.10p -7.00%
Imagination Technologies Group (IMG) 262.80p -5.67%
Bank of Georgia Holdings (BGEO) 1,704.00p -4.75%
Jupiter Fund Management (JUP) 341.10p -4.72%
Bovis Homes Group (BVS) 757.00p -4.54%
Spirent Communications (SPT) 124.20p -4.39%
International Personal Finance (IPF) 584.00p -4.34%

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Europe close: Stocks fall as US mulls Syria invasion
- US could invade Syria amid turmoil
- US house prices increase at slower rate
- US consumer confidence grows
- German business sentiment rises
- UK services sector expands

FTSE: -0.72%
DAX: -2.02%
CAC 40: -2.12%
FTSE MIB: -2.09%
IBEX 35: -2.81%
Stoxx 600: -1.68%

European stocks were in the red amid reports Western countries could attack Syria within days.

US Defence Secretary Chuck Hagel said troops in the world's biggest economy were ready to intervene after the Syrian regime was said to have used chemical weapons against civilians near Damascus on Wednesday.

Sources who attended a meeting in Istanbul on Monday between Syrian opposition leaders, US diplomats and other governments told Reuters that rebels were advised to expect military action.

The news comes after US Secretary of State John Kerry said President Obama would hold Syria's government under the Assad regime accountable for the attack.

The White House confirmed Obama spoke to global leaders about possible international responses to the conflict. The US is said to be looking at ways to invade Syria without the approval of the United Nations, where Russia would likely veto any action.

Syria's foreign minister Walid al-Moallem on Tuesday vowed the government would defend itself against any foreign attack.

The Arab League "demands that all the perpetrators of this heinous crime be presented for international trials," according to a copy of the statement obtained by Reuters.

Policymakers weigh Fed stimulus

US policymakers continued to mull over the Federal Reserve's tapering of quantitative easing.

The central bank is expected to start scaling back its $85bn per month in bond purchases at its next meeting in September so long as the economy shows enough improvement.

Also weighing on markets was remarks from Treasury Secretary Jack Lew who said the US government will reach its debt limit by mid-October unless Congress acts quickly.

The debt ceiling was last raised in January and the government can no longer borrow if the limit is reached, which is currently capped at $16.7tn

US house prices grow at slower pace

The S&P/Case-Shiller index of property values in 20 cities rose 12.1% in June from the same month in 2012 after rising 12.2% in the year ended in May, the biggest gain since March 2006 and in line with expectations.

Separately, the Conference Board revealed US consumer confidence unexpectedly jumped in August as citizens grew more optimistic about the outlook for the economy. The sentiment index climbed to 81.5 from 81 in July, beating the consensus estimate of 79.

In Germany, business sentiment increased in August as Europe's largest economy showed solid momentum. The Ifo indexes, based on a survey of 7,000 German executives, climbed to 107.5 from 106.2 in July. It was slightly higher than the 107 expected by economists.

Meanwhile, the Confederation of British Industry also revealed that Britain's services sector grew at the fastest rate in business volumes since 2007 in the last quarter.

Carmakers biggest fallers

A gauge of carmakers slid including Renault, Porsche, Volkswagen, Daimler and Bayerische Motoren Werke. They were the biggest fallers on the Stoxx Europe 600 index.

Antofagasta retreated after the miner reported a drop in first half profits due to falling copper prices.

Petrofac's shares surged after the oilfield services company said it remains on track to deliver growth for the full year.

Royal Bank of Scotland decreased following reports MPs were stepping up their campaign to have the bank split into a 'good bank' and 'bad bank'.

Polymetal International plunged after HSBC Holdings downgraded the gold miner to 'neutral' from 'overweight'.

UBM gained after UBS upgraded the publisher of InformationWeek to 'buy' from 'neutral'.

Brent crude soars as Syria tension grows

The Syrian crisis pushed Brent crude futures higher, up $2.826 to $113.960 per barrel on the ICE.

The euro/dollar rose 0.16% to the 1.3389 dollar mark.

US Market Report
Stocks fall on concerns over Syria, debt ceiling
- John Kerry says Syrian attack 'inexcusable'
- US to hit debt ceiling by mid-October
- Durable goods disappoint

Dow Jones: -0.43%
Nasdaq: -0.01%
S&P 500: -0.40%

Wall Street stocks finished with moderate losses on Monday, erasing gains by the close of trade, as concerns over Syria and the US debt ceiling weighed on sentiment.

US Secretary of State John Kerry said last night that Syria would be held accountable for the "moral obscenity" of the chemical weapons attack that has killed well over a thousand. “By any standard it is inexcusable,” he said.

Senior Market Analyst Michael Hewson from CMC Markets said that the comments "raised concerns that some form of confrontation could be being considered".

Meanwhile, Treasury Secretary Jacob Lew was reported saying that the US government would reach the debt ceiling by mid-October unless Congress agrees to raise the limit. “Operating the government with no borrowing authority, and with only the cash on hand on a given day, would place the US in an unacceptable position,” Lew said.

In other news, durable goods orders came in much worse than estimated, dropping by 7.3% in July following a revised 3.9% gain the month before. Analysts had expected a decline of just 4%.

"Overall, given the renewed strength in the surveys the fall in orders could just be a temporary blip, particularly as orders have been fairly robust over the preceding few months," said Paul Ashworth, the Chief US Economist at Capital Economics.

"Nevertheless, at the very least it is a reminder that the expected pick-up in economic growth in the second half of the year will be gradual."

Drug manufacturer Amgen was a high riser after agreeing to buy Onyx for $10.4bn.

Facebook was making gains, rising 2% to $41.34. This means that the social network's market cap surpassed $100bn for the first time.

Meat processor Tyson Foods slid after Bank of America downgraded the stock from 'buy' to 'neutral' following a recent strong run.


S&P 500 - Risers
Amgen Inc. (AMGN) $113.75 +7.72%
Big Lots Inc. (BIG) $34.02 +5.49%
CH Robinson Worldwide Inc (CHRW) $58.83 +2.85%
Peabody Energy Corp. (BTU) $18.25 +2.24%
Celgene Corp. (CELG) $141.16 +2.09%
Home Depot Inc. (HD) $75.43 +2.08%
Best Buy Co. Inc. (BBY) $35.81 +2.08%
Owens-Illinois Inc. (OI) $30.31 +1.78%
Apollo Group Inc. (APOL) $18.82 +1.73%
Alexion Pharmaceuticals Inc. (ALXN) $107.19 +1.64%

S&P 500 - Fallers
Tyson Foods Inc. (TSN) $29.17 -7.34%
Archer-Daniels-Midland Co. (ADM) $34.50 -4.91%
Expedia Inc. (EXPE) $47.20 -3.36%
Autodesk Inc. (ADSK) $37.89 -2.62%
Abercrombie & Fitch Co. (ANF) $37.78 -2.33%
Visa Inc. (V) $175.00 -2.29%
Hershey Foods Corp. (HSY) $93.36 -2.21%
Tesoro Corp. (TSO) $47.96 -2.14%
Campbell Soup Co. (CPB) $45.40 -2.13%
McCormick & Co. (MKC) $68.77 -1.98%

Dow Jones I.A - Risers
Home Depot Inc. (HD) $75.43 +2.08%
McDonald's Corp. (MCD) $95.31 +0.19%
Alcoa Inc. (AA) $8.06 +0.12%
Boeing Co. (BA) $105.53 +0.05%

Dow Jones I.A - Fallers
Procter & Gamble Co. (PG) $78.54 -1.84%
Microsoft Corp. (MSFT) $34.15 -1.73%
Verizon Communications Inc. (VZ) $46.94 -1.41%
AT&T Inc. (T) $33.82 -1.37%
Pfizer Inc. (PFE) $28.02 -1.13%
Coca-Cola Co. (KO) $38.12 -1.04%
Johnson & Johnson (JNJ) $87.53 -1.00%
JP Morgan Chase & Co. (JPM) $51.80 -0.99%
Intel Corp. (INTC) $22.27 -0.74%
General Electric Co. (GE) $23.61 -0.71%

Nasdaq 100 - Risers
Amgen Inc. (AMGN) $113.75 +7.72%
CH Robinson Worldwide Inc (CHRW) $58.83 +2.85%
Regeneron Pharmaceuticals Inc. (REGN) $245.01 +2.58%
Celgene Corp. (CELG) $141.16 +2.09%
Avago Technologies Ltd. (AVGO) $37.48 +2.01%
Facebook Inc. (FB) $41.34 +1.95%
Alexion Pharmaceuticals Inc. (ALXN) $107.19 +1.64%
Dollar Tree Inc (DLTR) $54.12 +1.56%
Altera Corp. (ALTR) $35.15 +1.41%
Gilead Sciences Inc. (GILD) $60.42 +1.31%

Nasdaq 100 - Fallers
Expedia Inc. (EXPE) $47.20 -3.36%
Autodesk Inc. (ADSK) $37.89 -2.62%
Mondelez International Inc. (MDLZ) $30.72 -1.93%
Microsoft Corp. (MSFT) $34.15 -1.73%
Nuance Communications Inc. (NUAN) $19.01 -1.55%
Catamaran Corp (CTRX) $55.33 -1.51%
Check Point Software Technologies Ltd. (CHKP) $56.89 -1.44%
F5 Networks Inc. (FFIV) $85.86 -1.42%
Kraft Foods Group, Inc. (KRFT) $52.08 -1.40%
Amazon.Com Inc. (AMZN) $286.21 -1.31%

Broker Tips
Broker tips: IAG, M&S, Premier Foods
Investec has downgraded its rating for British Airways owner International Airlines Group (IAG) from 'buy' to 'hold' after strong gains seen across the airlines sector since the start of the year.

"European airlines have benefited from reduced capacity and a flattening of fuel prices in 2013. Strong yields have led to stellar trading for most airlines, driving a material sector re-rating," said analyst James Hollins. Looking forward in 2014, he said that rising capacity and stubbornly-high fuel prices will act as headwinds.

HIgh Street giant Marks & Spencer (M&S) was performing well on Tuesday morning after Citigroup upgraded the stock from 'neutral' to 'buy' and lifted its target from 470p to 535p.

"The combination of recent, material upgrades to UK economic growth forecasts, and M&S management initiatives have markedly improved the credibility of double-digit FY15 and FY16 M&S EPS [earnings per share] growth forecasts."

Credit Suisse has lifted its recommendation for food manufacturer Premier Foods from 'neutral' to 'outperform' and raised its target from 100p to 155p.

"Valuing a business that is structurally over-indebted where profit expectations are falling is nigh on impossible – a deteriorating profit outlook simply crushes the equity value (now only 17% of the enterprise value). However if the profits have stabilised and can even show some growth, then the reverse is true – the equity leverage into a profit upturn is material."