Benzinga | Dec 03, 2013 09:07AM ET
Just 25 days after Twitter's, (TWTR) highly anticipated IPO, analysts gave the company mixed reviews on Monday. In a surprise move, the Bank of America Merrill Lynch initiated coverage on the company with an Underperform rating.
The analysts responsible for the valuation, Justin Post, expects to see an 11.7 percent decline in Twitters share price. Morgan Stanley and JP Morgan, both involved in the underwriting for Twitter's IPO, gave the stock an Equal-weight and Neutral rating, respectively.
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Asian Markets
Asian markets were mixed on Tuesday, the Japanese NIKKEI gained 0.60 percent, China's Shanghai composite was up 0.69 percent and the Shenzhen composite gained 2.05 percent. However the Hang Seng index lost 0.45 percent and the South Korean KOSPI was down 1.05 percent.
European Markets
Europe's markets were down across the board; the UK's FTSE lost 0.83 percent and the eurozone's STOXX 600 was down 0.30 percent. Italy's MIB was down 1.52 percent and the Spanish IBEX lost 0.94 percent.
Commodities
Energy futures were mixed, Brent futures were down 0.05 percent and WTI futures gained 0.22 percent. Gold gained 0.16 percent and silver was up 0.03 percent. Industrial metals were down across the board with tin posting the largest loss, down 1.32 percent.
Currencies
Currency markets were quiet, the euro to dollar ratio was steady at $1.35 and the pound gained 0.13 percent against the dollar. The dollar gained 0.13 percent against the yen and 0.11 percent against the Australian dollar.
Earnings
Notable earnings released on Monday included:
Pre-Market Movers
Stocks moving in the Premarket included:
Earnings
Notable earnings expected on Tuesday include:
Economics
Tuesday's economic calender will be a quiet one with notable releases including Brazilian GDP, eurozone PPI, British construction PMI and US car sales.
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