Market Overview

Market Update

Shares of Mosaic Company (NYSE: MOS) fell about 3% after the company announced its plans to cut its quarterly finished phosphate production by around 10%. Mosaic will reduce phosphate production by 250,000 tonnes over the next three months. The company continues to project strong demand in 2012 for both potash and phosphate.

Shares of Citigroup Inc (NYSE: C) gained about 1.2% after the company announced its plans to sell its Belgian consumer business to French bank Credit Mutuel Nord Europe.

Shares of W. P. Carey & Co LLC (NYSE: WPC) rose about 0.05% after the company closed on a $450 million unsecured revolving credit facility.

India's Mahindra & Mahindra Ltd (OTC: MAHMF) announced its plans to lift prices of its XUV500 sport-utility vehicle by 3% to 4%. Mahindra & Mahindra will raise prices by INR30,000 to INR55,000 at showrooms in New Delhi from January 1.

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