Greek officials and inspectors have reportedly made considerable progress on talks towards measures that would save the country more money and lead to more spending cuts.
The FTSE in London finished up 0.37% and the DAX in Germany settled up 0.77%. This, as Spanish and Italian bond yields eased.
Hong Kong's Hang Seng index finished ahead by 1.69% and the Nikkei in Japan settled up 2%.
September crude oil futures settled up 80 cents at $92.20 a barrel. December gold futures finished up $6.90 to settle at $1,616.20 an ounce.The benchmark 10-year Treasury was flat with the yield sitting at 1.567%. The greenback was down 0.08%, according to the dollar index. On the corporate news front, Knight Capital Group (KCG) announced it has secured $400 million in financing as the firm continues to try to combat the damage done by last week's trading debacle caused by a software glitch. In a Securities and Exchange Commission filing, Knight said an unnamed group of investors had "agreed to purchase an aggregate of $400 million of 2% convertible preferred stock," which "will be convertible into approximately 267 million shares of common stock of the Company." Knight shares closed down 24% at $3.07. Best Buy (BBY) founder Richard Schulze has offered to buy the company for $24 to $26 a share. Shares surged 13% to close at $19.99, providing evidence of some investor skepticism about the deal. Tyson Foods (TSN), the meat and chicken processor, posted worse-than-expected third-quarter results amid tepid protein demand domestically and sharply higher grain costs. Shares fell 8%. Shares of Regions Financial (RF) rose 1% after the bank's stock was upgraded to buy from neutral at Bank of America. The firm, which also lifted its price target to $8 from $7, said it sees "material upside potential" left at current levels.
2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions.
>To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV