LPL Financial and Retirement Benefits Group™ Announce Addition of Five Top Retirement Consultants to Retirement Benefits Group™ Platform - Yahoo Finance LPL Financial and Retirement Benefits Group™ Announce Addition of Five Top Retirement Consultants to Retirement Benefits Group™ Platform - Yahoo Finance

Monday, June 4, 2012

LPL Financial and Retirement Benefits Group™ Announce Addition of Five Top Retirement Consultants to Retirement Benefits Group™ Platform - Yahoo Finance

LPL Financial and Retirement Benefits Group™ Announce Addition of Five Top Retirement Consultants to Retirement Benefits Group™ Platform - Yahoo Finance

SAN DIEGO, May 30, 2012 /PRNewswire/ -- LPL Financial LLC, the nation's largest independent broker-dealer* and a wholly-owned subsidiary of LPL Investment Holdings Inc. (LPLA), and Retirement Benefits Group™ ("RBG"), a highly specialized retirement plan consulting firm based in San Diego, CA, today announced the continued expansion of Retirement Benefits Group through the addition of five top retirement plan consultants to the firm.  The five advisors - Matthew Haerr, Christine Soscia, Amir Arbabi, Peter Littlejohn, and William Brown - will provide retirement guidance to institutional clients in the areas of plan design assistance, compliance updates, and investment due diligence, as well as participant communication and education.  These new advisor additions will be based out of the San Diego, CA, Akron, OH, Las Vegas, NV, and Idaho Falls, ID offices of Retirement Benefits Group.

Retirement Benefits Group is supported by the Retirement Partners division of LPL Financial LLC, which is focused on supporting retirement plan-focused advisors.

Darrell Alford, Principal of Retirement Benefits Group, said, "In an increasingly complex retirement landscape for participants, plan sponsors are looking for advisors with fiduciary expertise to help them choose plan structures and investment options that have the potential to offer greater retirement security for their workers.  We are proud that Retirement Benefits Group has expanded over the years as a leader in this space by acting as just such a partner to plan sponsors.  Our rapid growth continues with the addition of these five leading advisors who have many years of experience in the retirement plan space.  With new offices in Idaho and Nevada, we now cover most of the western United States and will continue to expand east, even as we maintain our total focus on providing retirement plan financial advice that is second to none.  Equally important, we are delighted to work with LPL Financial Retirement Partners, which has acted as a strong enabling partner in our ongoing growth."

Bill Chetney, Executive Vice President of LPL Financial Retirement Partners, said, "We congratulate Retirement Benefits Group for their continued successful growth as a leading firm within the retirement plan space.  We are proud to be an enabling partner to Retirement Benefits Group and other advisor practices focused on this space as they work to help Americans realize their retirement aspirations, and we expect to see strong continued growth in this area."

Matthew Haerr has been a Financial Advisor for over 20 years. He has worked with company sponsored retirement plans, family and personal wealth management, and personal retirement planning throughout his career. Matt has helped business owners and corporations develop strategies for company retirement plans including 401(k), profit sharing and pension plans.

Christine Soscia has been in the financial services industry for over 15 years. She works with business owners in helping design, audit and implement employee benefit programs.  Christine also specializes in working with business owners in the areas of strategic tax planning, wealth management, business planning, estate planning and succession planning.

With her primary focus on 401(k) plans, in 2004 Christine was one of the first to graduate from the 401(k) Coach program.  In 2006, she purchased a TPA firm and managed more than 160 plans.  She has appeared on CNBC and Fox Business and has been quoted in various financial publications.  Christine holds Series 63, 7, 24, and 66 registrations with LPL Financial and Life and Health licenses and is a founding member of the Professional Business Advisor group in Las Vegas.

Amir Arbabi assists companies on plan design, fiduciary oversight and investment due diligence.  Utilizing his years of experience with retirement planning, Amir creates customized plans to meet his clients' unique goals and needs.  In addition to his expertise in plan consulting, Amir has extensive knowledge of wealth and investment management from his training at firms such as Merrill Lynch and Morgan Stanley Smith Barney.

Peter Littlejohn joins the Retirement Benefits Group as the practice leader in the Midwest, currently domiciled in Akron, Ohio.  Peter has over 27 years of retirement plan experience, most recently at Highmark Capital Management in San Francisco, where he led the DCIO advisory business beginning in 2009.  Earlier he led retirement businesses at Ivy Funds, Wells Fargo, Strong Capital Management and Cigna Retirement and Investment Services, where he was responsible for sales, marketing, client service and strategic development.

About Retirement Benefits Group
Retirement Benefits Group™ ("RBG"), one of the premier retirement plan consulting groups in the country, offers access to brokerage and related retirement-plan services to corporations, governmental agencies, non-profit organizations and their employees through LPL Financial. RBG, which is headquartered in San Diego, CA with additional offices in Irvine, Riverside, Westlake Village, CA, Phoenix, AZ, Gresham, OR, Las Vegas, NV, Idaho Falls, ID, Temecula, CA, Akron, OH, and White Plains, NY, consults on more than $7 billion in retirement plan assets. Visit for more information.

Financial consultants of RBG are registered representatives with securities offered through LPL Financial, Member FINRA/SIPC. Investment advisory services offered through Retirement Benefits Group, a registered investment advisor and separate entity from LPL Financial.

About LPL Financial
LPL Financial, a wholly-owned subsidiary of LPL Investment Holdings Inc. (LPLA), is the nation's largest independent broker-dealer (based on total revenues, Financial Planning magazine, June 1996-2011), a top RIA custodian, and a leading independent consultant to retirement plans. LPL Financial offers proprietary technology, comprehensive clearing and compliance services, practice management programs and training, and independent research to over 12,900 financial advisors and approximately 680 financial institutions. In addition, LPL Financial supports over 4,400 financial advisors licensed with insurance companies by providing customized clearing, advisory platforms and technology solutions. LPL Financial and its affiliates have approximately 2,700 employees with headquarters in Boston, Charlotte, and San Diego. For more information, please visit

*Based on total revenues, Financial Planning magazine, June 1996-2011


LPL Financial Media Contacts
Joseph Kuo / Chris Clemens
Haven Tower Group LLC
(206) 420-3851 or (206) 420-1525 or

RBG Media Contacts
Larry Deatherage
Retirement Benefits Group
(858) 551-4015

Financial Engines Personalizes Better Retirement Plans with SAS ® - Business Wire

CARY, N.C.--()--Financial Engines, America’s largest independent investment advisor, needed a better way to analyze its massive database of 401(k) participant demographic information. Using software from SAS, the leader in business analytics software and services, the company will quickly and easily harness investment advisor analytics to more clearly understand what customers want and pinpoint drivers for service enrollment, ultimately resulting in more attractive retirement plan offers.

“We chose SAS because we needed a secure, best-in-class solution for managing our customer data”

“We chose SAS because we needed a secure, best-in-class solution for managing our customer data,” said Mike Ault, Director of Investor Communications at Financial Engines. “SAS was both easy to implement and scalable, giving us plenty of room to grow.”

SAS will help Financial Engines save considerable time in data manipulation, processing and analysis. In addition to increased efficiencies, the analysis provides a more comprehensive user view. “With more information and engagement, we can create solutions that meet client needs while growing our business,” said Ault.

“Since our services are available to more than 8 million 401(k) participants nationwide, we can learn a great deal about what influences participant retirement choices,” said Ault. “SAS helps us gather that intelligence efficiently, enabling us to quickly adapt and improve user experience.”

About Financial Engines

Financial Engines is the largest independent investment advisor, committed to providing everyone the trusted retirement help they deserve. The company helps investors with their total retirement picture by offering personalized retirement plans for saving, investment, and retirement income. To meet the needs of different investors, Financial Engines offers both online advice and professional management. Co-founded in 1996 by Nobel Prize-winning economist Bill Sharpe, Financial Engines works with America's leading employers and retirement plan providers to make retirement help available to millions of American workers. Financial Engines Advisors LLC is a subsidiary of Financial Engines Inc. (NASDAQ: FNGN).

For more information, please visit

About SAS

SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 55,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW®. SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2012 SAS Institute Inc. All rights reserved.

Stocks: 4 reasons we feel worse than we should - CBS News

(MoneyWatch) May was a bad month for stocks, and the first day of June wasn't too good, either. Bad job news hit markets hard. Yet the Vanguard Total Stock Index Fund (VTI) is up 2.5 percent for the year. At this pace, it would turn in a 5.9 percent return for the year. Not horrible, not great, but better than last year.

So why are we wallowing in pain and pessimism about the market? Here are four possible reasons:

1. Prospect theory. Research shows that people experience about twice as much pain from losing a dollar as they get pleasure from gaining a dollar. On April 27, the total U.S. stock market was up 12.2 percent for the year. Let's call that 12.2 units of pleasure. Then markets gave up 9.7 percentage points of that pleasure. Since losses cause pain that is twice as strong as gains cause pleasure, we have to deduct 19.4 units of pleasure (-9.7 percent x 2). Thus we are left with a -7.2 units of net pain.

2. Recency bias That refers to the tendency for people to count recent data as more important. And because the market loss is more recent, it hurts a bit more. If stocks had fallen early in the year by 12.2 percent and then recovered to a net 2.5 percent gain, we would be feeling much better even though our wealth would be the same.

3. Vividity. The faster something happens, the more we notice it. Though it took nearly four months for stocks to record that 12.2 percent gain, it took only a bit over a month to lose most of it. That's why investors felt the  plunge in 2008 and 2009 so intensely. The plunge was no worse than the decline that followed the Internet bubble, but the shock and awe factor of everything happening so fast caused excruciating pain.

4. The media. The Dow Jones Industrial Average (DJIA) is in the red, down 0.8 percent for the year. Of course the DJIA is a silly index of a mere 30 stocks that strips out dividends and is weighted in such a way as to defy any logic in today's world. Yet it's what the media quotes.

My advice

Perception can be more powerful than reality. Don't let perception push you into doing dumb things like panicking and selling on market dips. Though it is an all too human a reaction, how did that work for everybody in early 2009? Not too well. History will only repeat itself if we let it.

Asia Stocks Climb Amid Global Policy Stimulus Speculation - Bloomberg

Asian stocks climbed amid speculation global policy makers will take steps to stimulate economic growth and after a four-day drop left the regional gauge at the cheapest level this year.

BHP Billiton Ltd. (BHP), the world’s largest mining company, rose 1.6 percent as commodity prices advanced. Canon Inc. (7751), a Japanese camera maker whose shares fell yesterday to the lowest level since April 2009, gained 3.7 percent. Qantas Airways Ltd., Australia’s largest carrier, tumbled 14 percent to a record low after forecasting full-year profit may plunge as much as 91 percent.

The MSCI Asia-Pacific Index (MXAP) rose 0.6 percent to 109.74 as of 9:20 a.m. in Tokyo, snapping a four-day decline and recouping some of yesterday’s 2.1 percent loss.

“We are likely to see a reasonably strong policy response in a number of countries,” said Angus Gluskie, managing director at White Funds Management in Sydney, who manages more than $350 million. “It’s stacking up to be a reasonably good buying opportunity.”

The MSCI Asia-Pacific has fallen 15 percent from its peak this year on Feb. 29. The measure slumped 10 percent in May, the biggest monthly loss since October 2008, when global markets tumbled following the collapse of Lehman Brother Holdings Inc. Equities continued declines into June as a U.S. jobs report added to concern global growth is slowing amid a deepening debt crisis in Europe.

To contact the reporter on this story: Adam Haigh in Sydney at

To contact the editor responsible for this story: Nick Gentle at

Enlarge image Asian Stocks Advance Amid Speculation on Global Policy Stimulus

Asian Stocks Advance Amid Speculation on Global Policy Stimulus

Asian Stocks Advance Amid Speculation on Global Policy Stimulus

Carla Gottgens/Bloomberg

A pedestrian walks past the BHP Billiton Ltd. headquarters in Melbourne.

A pedestrian walks past the BHP Billiton Ltd. headquarters in Melbourne. Photographer: Carla Gottgens/Bloomberg

June 1 (Bloomberg) -- Wilfred Sit, Asia chief investment officer for Baring Asset Management, talks about his investment strategy and the outlook for China and U.S. monetary policies. Sit also discusses Europe's debt crisis. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

May 30 (Bloomberg) -- Mark Mobius, chairman of Templeton Emerging Markets Group, talks about economic growth in China and India, Europe's sovereign debt crisis and strategy for emerging market stocks. Mobius, speaking with Michael McKee and Carol Massar on Bloomberg Radio's "On the Economy," also discusses energy markets and Facebook Inc. (Source: Bloomberg)

European stocks mixed as eurozone fears weigh - YAHOO!

European stock markets were mixed Monday, finding some support after recent heavy losses driven by increasing concerns over the eurozone debt crisis, weak US data and a slowdown in China.

Dealers said trade was relatively quiet after the turmoil of recent weeks as investors kept close watch on Spain, seen by many as most at risk of needing a debt bailout to follow Greece, Ireland and Portugal.

Madrid and Milan both posted sharp gains in a technical rebound but dealers said the gains lacked conviction, with the European outlook increasingly bleak as the economy slumps back into recession.

A public holiday in London -- which will also be closed Tuesday -- made for muted trade.

In mid-afternoon trade, the Frankfurt DAX was down 0.71 percent, having trading around the key 6,000 points support level during the day, while the Paris CAC 40 was up 0.84 percent.

Madrid meanwhile jumped 3.12 percent, lead by the banks despite increasing speculation Spain will have to seek outside help if it is to stabilise its stricken lenders.

Milan added 2.15 percent.

"For the start of the new trading week things are looking increasingly bleak for European equities," ETX Capital trader Markus Huber commented.

The underlying tone was negative, Huber said, noting "Friday's much worse than expected US job data and news overnight out of China pointing towards a broadening of the slowdown from manufacturing into the service sector."

On foreign exchange markets, the euro was at $1.2486 dollars, up from $1.2423 in New York late Friday.

US stocks opened moderately higher after slumping more than 2.0 percent Friday after much-weaker-than-expected new jobs data showed the US economy stalling.

The blue-chip Dow Jones Industrial Average and the high-tech Nasdaq Composite were marginally weaker at around 1400 GMT.

Tensions on the money markets also eased somewhat Monday, with the yield -- the rate of return earned by investors on benchmark German 10-year bonds rising to 1.2080 percent from 1.172 percent on Friday.

French 10-year bonds fetched 2.2970 percent, up from 2.245 percent, while the rate on Spanish paper eased sharply to 6.3950 percent from 6.495 percent and Italy stood at 5.6770 percent, down from 5.844 percent.

Bond market analysts at BNP Paribas said this reflected a rebalancing of positions after investors had piled into German and French bonds in the search for a safehaven for their money.

In Spain the labour ministry said on Monday that the number of jobseekers in fell by a slight 0.63 percent to 4.71 million people, the second consecutive monthly drop after hitting a record high in March.

In neighbour Portugal, the finance ministry said it would inject more than 6.65 billion euros ($8.2 billion) into private banks BCP and BPI, and the state-owned CGD to meet criteria established by the European Banking Authority.

In Cyprus, news agency CNA reported that President Demetris Christofias has not ruled out seeking aid from the EU's permanent bailout fund, the European Stability Mechanism.

Economists warned that European authorities did not seem to be tackling the debt crisis in a determined and coordinated manner, leaving investors to fear stock prices could sink further still.

"While many consider the recent move to the downside as vastly overdone, any help in the short term seems also hard to come by with politicians continue to disagree about measures to stabilise the current situation and the ECB unwilling being dictated to by falling markets and a worsening in sentiment," Huber said.

UniCredit Chief economist Erik Nielsen said "global political leadership is in short supply these days."

Earler Monday, Asian markets were badly hit by the US jobs data, with Tokyo falling 1.71 percent to its lowest mark since late November. Hong Kong tumbled 2.01 percent, putting it in negative territory for 2012.

World stocks waver as Europe holds another summit - Yahoo Finance

BANGKOK (AP) -- World stock markets wavered Thursday as the lack of a breakthrough in Europe's attempts to shake off its debt crisis kept sentiment gloomy.

Worries over Greece intensified after European leaders adjourned a summit without taking concrete measures to prevent Europe's debt crisis from exploding and Greece from making a messy exit from the region's shared currency.

Britain's FTSE 100 rose 0.2 percent to 5,278.44 in early trading while Germany's DAX lost 0.3 percent to 6,268.31. France's CAC-40 was down 0.1 percent at 3,001.77.

In the U.S., futures pointed to a lower opening ahead of the release of weekly jobless claims and durable goods orders for April. Dow Jones industrial futures fell 0.4 percent to 12,422 while S&P 500 futures were 0.4 percent down at 1,310.50.

The likelihood of Greece leaving the euro has been growing since early May, when political parties opposed to the terms of the country's financial rescue deprived pro-austerity parties of a majority at the polls. New elections are planned for next month.

"Many European countries are preparing for a Greek exit, so I think this is what scares the people most. It will be a chaotic and disorganized exit if and when it happens," said Francis Lun, managing director at Lyncean Holdings in Hong Kong.

"The outlook is still very pessimistic for the euro, so that is why the Asian markets continue to fall," he said.

Trading earlier in Asia proved indecisive. Japan's benchmark Nikkei 225 closed marginally higher at 8,563.38, having earlier in the day skimmed 8,496.61 — its first time below 8,500 in more than four months.

Hong Kong's Hang Seng fell 0.6 percent to 18,666.40. South Korea's Kospi swung between gains and losses before ending up 0.3 percent at 1,814.47. Australia's S&P/ASX 200 shed 0.3 percent to 4,055.80. Benchmarks in Taiwan, Indonesia and mainland China also fell while Singapore rose.

Meanwhile, HSBC Corp. said Thursday its China Purchasing Managers Index based on a survey of manufacturers showed activity weakened further in May.

A preliminary PMI, based on responses by 85 to 90 percent of companies surveyed for the full index which is released later, fell to 48.7 from April's 49.3 on a 100-point scale. Numbers below 50 indicate a contraction.

Beijing has tried to pump money into the economy by easing credit controls but Chinese media say bank lending has barely grown this month compared with a year earlier. That suggested companies were delaying investment due to uncertainty about the economic outlook.

Dariusz Kowalczyk, senior economist at Credit Agricole CIB in Hong Kong, said the results may spur China toward monetary and fiscal easing.

"We expect implementation of stimulus measures flagged earlier this week, especially in terms of infrastructure spending, which would help manufacturing recover. This would ultimately prove positive in the midterm," he wrote in an email.

The prospect of more action by Chinese authorities helped lift construction and infrastructure-related shares. Hong Kong-listed China Resources Cement Holdings added 1.7 percent, China National Building Material Co. added 2.1 percent, and China Railway Group Ltd. jumped 4.1 percent.

Benchmark oil for July delivery was up 20 cents to $90.08 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.95 to settle at $89.90 in New York on Wednesday. Brent crude for July delivery was up 99 cents at $106.55 per barrel in London.

In currency trading, the euro fell to $1.2545 from $1.2573 late Wednesday in New York. The dollar fell to 79.37 yen from 79.47 yen.

Financial Reforms Approved in Portugal Bailout - Benzinga

According to the Wall Street Journal (WSJ), the officials from the European Union and the International Monetary Fund conducted their fourth evaluation of the country on Monday. According to Finance Minister Vitor Gaspar, in his speech after the proceedings, the 78 billion euros bailout program is on track and doesn't need any adjustments.

The fiscal adjustments have been pushed forward along with the stringent financial reforms demanded by the European Union and the International Monetary Fund in exchange for the loan.

The reforms targets are supposed to make Portugal's deficit meet the target of 4.5% of gross domestic product in 2012 and 3% of the GDP in 2013. The next stage of the package for Portugal is 4 billion euros, which according to Mr. Gaspar is needed to fulfill the financing requirements and fulfill the program's adjustment progress.

In an article of the WSJ, “Mr. Gaspar said that the Portuguese financial system is stronger than a year ago, and its banks will be the most capitalized lenders in Europe following capital injections by the state.”

So far the government is on track with the EU and IMF demands but the predicted growth of GDP is dismal and unemployment has risen to 15.2 percent which is a record, according to The Seattle Times.

Also from the Seattle Times, Portugal has profited from the political consensus in enacting the bailout program which was signed by three separate political parties. The Socialists have been calling for more policies focusing on growth because the bailout program has created the highest unemployment rate on record in Portugal.

The Seattle Times provided an announcement that the Finance Ministry will be injecting more than 6.6 billion euros into three of the largest banks in Portugal, these banks need the money to meet the new capital requirements. Some of the much needed aid will come from government recapitalization funds and the issuance of self-financing bonds.

The laws that European banks are required to follow have become more complex and demanding in lieu of the cascade in economic recessions and bailout aid requested. The ratio between capital-to-risker assets held is up to 9 percent, according to The Seattle Times.

This required cushion is like the U.S banks, which are holding more capital in their vaults than they have in years.

Tags: euro zone, portugal

Posted in: News, Politics, Global, Economics, General, Best of Benzinga

Stocks See Choppy Trading Following Last Friday's Sell-Off - U.S. Commentary - NASDAQ

( - Stocks showed a lack of direction over the course of the trading day on Monday after ending the previous session substantially lower. The choppy trading came as traders expressed uncertainty about the outlook for the markets following last Friday's sell-off.

The major averages bounced back and forth across the unchanged line, eventually ending the day mixed. While the Dow edged down 17.11 points or 0.1 percent to 12,101.46, the Nasdaq rose 12.53 points or 0.5 percent to 2,760.01 and the S&P 500 crept up 0.13 points or less than a tenth of a percent to 1,278.17.

The lackluster performance on Wall Street came as many traders stayed on the sidelines following the steep losses seen last Friday, which came on much weaker than expected U.S. jobs data.

The report, which showed the weakest job growth in a year, added to concerns about whether the U.S. economic recovery will be able to hold up in light of the ongoing European debt crisis and slowing growth in China.

However, traders seemed reluctant to continue selling stocks amid indications that the recent pullback by the markets has been overdone.

The worries about the economic outlook still led most traders to refrain from going bargain hunting, leading to the choppy trading.

Meanwhile, the markets largely shrugged off a Commerce Department report showing an unexpected drop in new orders for U.S. manufactured goods.

The report showed that factory orders fell by 0.6 percent in April following a revised 2.1 percent drop in March. The decrease surprised economists, who had expected orders to edge up by 0.1 percent.

In corporate news, (CRM) announced an agreement to acquire social media marketing platform Buddy Media for $689 million in cash and stock. The transaction is expected to be completed during's fiscal third quarter.

Bed Bath & Beyond (BBBY) also announced a deal to buy Linen Holdings for about $105 million in cash. The company said the acquisition will not have any effect on its first quarter results.

Meanwhile, shares of Charming Shoppes (CHRS) closed modestly higher even though the apparel retailer reported weaker than expected first quarter earnings and revenues.

Sector News

Despite the lackluster performance by the broader markets, substantial weakness was visible among airline stocks. Reflecting the weakness in the airline sector, the NYSE Arca Airline Index tumbled by 4.3 percent on the day.

US Airways (LCC) and Delta Air Lines (DAL) turned in two of the airline sector's worst performances, with both stocks plummeting by 11.6 percent.

Housing stocks also saw considerable weakness on the day, resulting in a 3.3 percent drop by the Philadelphia Housing Sector Index. With the loss, the index ended the session at its worst closing level in almost five months.

Banking and brokerage stocks also showed significant moves to the downside, with the KBW Bank Index and the NYSE Arca Broker/Dealer Index falling by 2.2 percent and 1.3 percent, respectively.

Meanwhile, gold stocks showed a notable turnaround over the course of the day. After falling as much as 1.6 percent, the NYSE Arca Gold Bugs Index closed up by 1.4 percent. While gold for August delivery close down $8.20 at $1,613.90, the precious metal moved back to the upside in electronic trading.

Telecom stocks also saw some strength during the session, driving the NYSE Arca Telecom Index up by 1 percent. Qualcomm (QCOM) helped to lead the sector higher.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region came under pressure on Monday following Friday's sell-off on Wall Street. Japan's Nikkei 225 Index tumbled by 1.7 percent, while Hong Kong's Hang Seng Index plummeted by 2 percent.

Meanwhile, the major European markets turned in a mixed performance on the day, with the French CAC 40 Index edging up by 0.1 percent, while the German DAX Index fell by 1.2 percent. The U.K. markets were closed for a public holiday.

In the bond market, treasuries gave back some ground after moving sharply higher in recent sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 6 basis points to 1.527 percent.

Looking Ahead

While the economic calendar remains relatively quiet on Tuesday, the Institute for Supply Management's report on service sector activity is expected to attract some attention.

The index of activity in the sector service is expected to come in unchanged at 53.5 in May, with a reading above 50 indicating growth.

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Financial sector contributes the least to universal equity -

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New Delhi: Unitaid promotes access to treatment for patients of HIV/AIDS, malaria and tuberculosis, mainly in low-income countries. One of its main funding sources has been the introduction of a levy on air tickets in some countries that endorsed the ...

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