The trading session in the U.S. initially began with divergent movements of the indices under the influence of big sales in the Asian region today and discussions about bailout of Ireland. The strong decline in new construction in October and data understated inflation in the U.S. also contributed negatively to the index at the beginning of the session. An hour later, however, price-weighted Dow Jones IA index, increased by 0.1% to 11 034.86 points, while the broader stock market benchmark S & P 500 added 0.4 percent to 1,182 points, led by shares in the consumer sector. On the Nasdaq stock exchange Nasdaq Composite leading index increased by 0.5% to 2 482.91 points. For the predominance of purchasers of shares helped the news that carmaker General Motors increased by 31% the number of shares that will sell through its initial public offering (IPO). The investors will be offered 478 million shares in the carmaker to the originally planned 365 million shares, writes CNN. It is expected the IPO to bring it revenues of nearly $ 20 billion. Yesterday, General Motors and increase the price band of its IPO to 32-33 dollars per share, compared with the previously announced 26 to 29 dollars per share. Data on inflation in the U.S. today showed that consumer prices rose 0.2 percent on a monthly and 1.2% yoy in October, which was less than expected.
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The German unit of U.S. car giant General Motors – Opel, will chase the expansion through an investment of 11 billion euros in the development of new cars over the next five years. The plan is part of a strategy to transform the company into a profitable within two years. This report by the leadership of GM, Air Force forward. From GM also reported that the planned reduction of 8 300 people in Europe and the closures in Antvertp. One of the main objectives of GM is to obtain approval of plans by European governments to be able to get vital loans to the company to become profitable again. At this stage the intentions of GM have been identified as “financially reasonable and realistic to achieve” an independent auditor, said the head of the company’s Europe, Nick Reilly.
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The Union organization in the automobile manufacturer Opel rejected the restructuring plan submitted by parent company General Motors (GM). This confirmed the president works council Klaus Franz to Germany daily Frankfurter Rundschau. “The loss of nearly 9 thousand jobs in Europe is unacceptable,” says Francis told the newspaper. Negotiations on the future of Opel and its British Vauxhall marks are expected to be renewed in the second week of January. Since GM had said he wanted to cut about 8300 employees of 50-thousand in Europe, but the distribution of cuts in different plants remains unclear. Such job losses are “economic fatuity” according to Franz, who believes that by 2013 around 10 500 positions either way will be closed in the Opel and Vauxhall for the exit of workers into retirement. Klaus Franz also calls for greater independence, the Opel within the group of GM and a free connection with the company’s global market. Opel became the protagonist of the saga continued this year. Several companies want to become owner of the manufacturer after General Motors announced that it sells.
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