- Romania’s major grain traders such as Cargill, Alfred C. Toepfer, Glencore and Nidera exported grain worth EUR1.3 billion from June 2010 through 2011, according to Victor Beznea, president of the Romanian Association of Farm Product Traders (ARCPA).- The record-high EUR1.5 billion raised by the Finance Ministry last week from the foreign markets brings to over EUR4.5 billion the foreign currency debt accumulated by Romania since the beginning of the year.
According to the source, the U.S. carmaker will produce over 70 B-Max prototypes in Romania this summer. The car parts needed to assemble the B-Max models were produced at Ford's car plants in Germany. The B-Max minivans will be tested soon in Belgium, at Ford Lommel Proving Ground and in other countries. After tests are finished, the cars will be dismantled. Ford Romania will start the production of the new car model next year. B-Max will be produced exclusively in Romania. At the end of March, Ford finished installing the production lines for B-Max and a new family of engines at the Craiova car plant. Ford produced about 3,000 Transit Connect light commercial vehicles in Romania. The U.S. carmaker has invested EUR450 million so far in operations carried out in Craiova.
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market data.
NEW YORK (CNNMoney) -- U.S. stocks closed little changed on Monday after a downgrade of Greece's credit rating tempered earlier investor enthusiasm for a series of corporate deals.
At the close, the Dow Jones industrial average (INDU) rose 1 point, or less than 0.1%, to end at 11,953; the S&P 500 (SPX) added less than a point to close at 1,272; and the Nasdaq Composite (COMP) fell 4 points, or 0.2%, to 2,640.
15PrintStocks opened higher following a series of deals. But the gains were short lived after credit agency Standard & Poor's downgraded its rating on Greece to "CCC." S&P also kept its negative outlook on Greece.
The downgrade pressured the currency and commodity markets. Oil fell 2% to $97.30 a barrel. Silver prices slid more than 4%. And and gold dropped 1% to $1,515.60 an ounce.
Energy and material stocks were hit hard, with Cabot Oil (COG) tumbling 3.5% and Halliburton (HAL, Fortune 500) shares down more than 2%.
S&P downgrades Greece
"A couple months ago, the market would have overlooked a Greece downgrade," said David Levy, portfolio manager with Kenjol Capital Management. "But with this negative market sentiment, it's another reason to sell."
Stocks have taken a drubbing as of late, with concerns about the economy leaving investors battered and bruised.
With no economic data on tap for Monday's session, U.S. investors focused on a series of corporate deals announced before the opening bell
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