- Arjun Dave
- 12 May, 2011
- New York City
UK stocks traded lower after commodities accelerated the decline for the second day in a row. Crude oil fell 2.5% and silver plunged 7% in London trading. For the month, oil is down 15% and silver has fallen 32%. Miners closed lower. Amlin reported sales increase of 14%.
- Bikram Pandey
- 12 May, 2011
- New York City
U.S. stocks declined after commodities extended losses for the second day in a row. U.S. weekly jobless claims declined 44,000 and producer price index increased 0.8%. Retail sales in April increased 0.5%. Cisco reported lower third quarter earnings and guided cautious fourth quarter.
- Arjun Dave
- 12 May, 2011
- New York City
European market indexes edge lower as commodities fall and resource linked stock led the decliners. Industrial production in the euro-zone fell 0.2% in March but surged from a year ago, but market focused on the falling commodities prices. Aegon NV and Allianz SE reported lower net incomes.
- Devan Biswas
- 12 May, 2011
- New York City
Stocks in Mumbai dropped sharply tracking losses in international markets despite a sharp fall in oil price. The benchmark index declined 1.4%. Industrial production index in March surged 7.3% but wholesale price index hovered near the recent high. The dip in crude oil price lifted airlines.
- Nigel Thomas
- 12 May, 2011
- New York City
Stocks in Japan dropped sharply led by resources and commodities linked stocks. Hitachi Ltd said fourth quarter net quadrupled on cost cuts and higher sales of construction equipment and chips. Inpex, Mitsui, Mitsubishi and JX Holdings led the decliners.
- Marcus Jacob
- 12 May, 2011
- New York City
Australian stocks dropped 1.8% after crude oil prices plunged more than 5% in New York trading. Resource and energy complex stocks led the decliners. Optus estimated slower earnings and revenues growth in the current fiscal year. Bluescope Steel estimated full year loss.
- Bikram Pandey
- 11 May, 2011
- New York City
U.S. indexes dropped more than 1% after crude oil plunged 5.5%. Higher than expected supplies in the weekly report dragged the oil lower and gasoline plunged 8%. Precious metals closed lower. Earnings lifted European stocks and inflation in China kept investors on the sidelines in Asia.
- Mukesh Buch
- 11 May, 2011
- New York City
Dean Foods first quarter net income fell to $25 million. Enbridge first quarter net income rose 15% to $393 million. Macy
- Marcus Jacob
- 11 May, 2011
- New York City
Bank of England lowered its economic growth views for 2011 and 2012 and lifted inflation warning to as high as 5%. Separately, UK trade deficit increased in March. HSBC declined after it plans to trim costs as much as $3.5 billion and ITV fell on weaker advertising outlook.
- Bikram Pandey
- 11 May, 2011
- New York City
U.S. turned lower in the morning after trade deficit widened on higher oil price and sustained imports. China reported inflation of 5.3% and bank loans rose at a slower pace. Walt Disney quarterly net missed earning estimates. Spectrum Brands gained on better than expected sales.
- Nigel Thomas
- 11 May, 2011
- New York City
European stocks inched higher as earnings lifted trading sentiment despite the ongoing worries linked to Greece. German Chancellor Angela Merkel said Greece must do its part in rebuilding its economic foundation. Maersk and Hermes gained more than 4% on better quarterly results.
- Devan Biswas
- 11 May, 2011
- New York City
Stocks in Mumbai traded in a tight range as banks, real estate developers and resources linked stocks led the most active list. State Bank of India lifted prime lending rate by 75 basis points following an increase of 50 basis points by the RBI. Oracle Financial Services soared 11%.
- Nigel Thomas
- 11 May, 2011
- New York City
Stocks in Japan closed higher for the second day in a row. The yen weakened but held firm. Finance Ministry report showed that the central bank conducted only one currency intervention in the quarter to March.
- Marcus Jacob
- 11 May, 2011
- New York City
Australian stocks advanced after China reported inflation above 5% but not high enough to slow down the economy. The Australian dollar edged up to $1.08. Westfield lifted outlook for development construction. David Jones after it reaffirmed annual earnings outlook.
- 123jump.com Staff
- 10 May, 2011
- New York City
The financial services provider total quarterly net revenue dropped 9% to $25.22 billion. Net income in the quarter surged 67% to $5.56 billion. Earnings per share rose to $1.28 as against 74 cents per share a year ago.