US futures drop both on local and European concerns

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/Reuters

US stock futures declined sharply on Monday as concerns about European and US leaders' inability to tackle debt turmoil surged. Chinese fuelled anxiety by predicting extended global slowdown. Futures on the Standard & Poor's 500 lost 16 points reaching 1,197.9, while those on Dow Jones Industrial Average dropped 139 points hitting 11,628. Nasdaq futures gave up 21 points attaining 2,228.75.

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Mon, 21 Nov 2011 14:47:07 GMT

US treasuries increase

Treasury prices increased on Monday as lack of actions in the Congress put off investors from buying risky assets like stocks. Investors seek safer assets as dollar and treasuries. Higher treasury caused a decline in 10-year notes yields by 6 basis points to 1.96%.

Mon, 21 Nov 2011 14:17:01 GMT

Pharmasset agreed on the takeover

On Monday Gilead Sciences Inc. announced about the takeover of Pharmasset Inc. for $137 cash a share; the total sum being $11 billion. The share price of Pharmasset Inc. almost doubled after the announcement. Friday's closing price was $69.02. Gilead Sciences is going to finance the acquisition partly by cash on hand, partly by debt financing.

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