- Devan Biswas
- 10 Feb, 2011
- New York City
European markets edged lower after world markets fell on the fears of rising inflation worldwide. European markets also declined after Cisco Systems earnings fell and Credit Suisse lowered its target rate of return to 15% form 18%. Air France reported quarterly loss.
- Bikram Pandey
- 10 Feb, 2011
- New York City
U.S. stocks traded lower after Cisco Systems reported lower earnings on a rise in sales. U.S. jobless claims at the end of last week fell by 36,000 to 383,000. Foreclosure filings in January declined 17%, fourth monthly decline in a row.
- Nigel Thomas
- 10 Feb, 2011
- New York City
Stocks in Japan declined ahead of three day weekend and GDP and inflation data next week. Asahi Glass fell on cautious outlook but Nissan rose as automakers report rising sales and earnings. Shipping companies rose after freight rate index gained.
- Devan Biswas
- 10 Feb, 2011
- New York City
Stocks in Mumbai fell for the third day in a row and the benchmark index fell 0.7%. The Sensex index fell 4% in the three-day sell off. Telecom companies declined after the regulator proposed one-time fee for 2G radio spectrum that may cost industry $1.3 billion. Weekly wholesale inflation declined.
- Mukesh Buch
- 10 Feb, 2011
- New York City
Elecon Engineering soared 5% after net profit surged 85.6%. EPC Industrie Ltd surged 20% after M&M will acquire 38% stake. KRBL slumped 8% after net profit fell 12%. Reliance Infrastructure soared 9.4% after ADAG group stocks recover from the sell-off.
- Nigel Thomas
- 10 Feb, 2011
- New York City
Stocks in Hong Kong closed sharply lower as investors pull money out of Asia. Hong Stock Exchange declined 5% on heavy volume on the worries that trading volume will fall further. The benchmark index in Hong Kong fell 2% but in Shanghai rose 1.6%.
- Marcus Jacob
- 10 Feb, 2011
- New York City
Stocks in Australia were firm ahead of Rio Tinto earnings. After the close iron ore miner said annual net soared to $14.32 billion and increased full year dividend 20%. Transurban underlying earnings increased 9.5% to $362.8 million. Telstra net dropped 36%.
- Bikram Pandey
- 09 Feb, 2011
- New York City
U.S. stocks edged lower after rallying for seven days in a row. Treasuries rallied as 10-year bond auction of $24 billion drew record foreign investor interest. Fed Chairman Bernanke said unemployment rate is likely to remain high. NYSE Euronext and Deutsche Boerse are in deal talk.
- Devan Biswas
- 09 Feb, 2011
- New York City
Stocks in London edged lower and government announced a deal with banks to hold bonuses and lend more to small businesses. The deal was criticized by the members of the ruling party and the opposition as ineffective. Reckitt Benckiser dropped on a cautious outlook.
- Mukesh Buch
- 09 Feb, 2011
- New York City
Ingersoll-Rand fourth quarter revenue gained 13% and net earnings rose to $212.1 million. Coca-Cola net revenue rose 40% and net income surged 274% to $5.77 billion. Walt Disney first quarter revenue increased 10% to $10.7 billion and net income soared 54% to $1,302 million.
- Arjun Dave
- 09 Feb, 2011
- New York City
London Stock Exchange Group Plc agreed to acquire Toronto based TMX Group for $3.2 billion. Intense competition for stock trading and heavy technology cost brought two distant exchanges together.
- Bikram Pandey
- 09 Feb, 2011
- New York City
U.S. stock are heading lower in the early trading after the Dow rallied for the seven sessions in a row. London Stock Exchange Group agreed to merge with Canada based TMX Group. Fed Chairman Bernanke said unemployment is likely to remain high for some time.
- Devan Biswas
- 09 Feb, 2011
- New York City
European markets were on the defensive after mixed earnings in the region. PSA Peugeot Citroen said it will open a factory in India and sales rose 16% and earnings were ahead of previous estimate. LSE agreed to merge with Canada based TMX Group. Sanofi declined after it estimated lower net.
- Devan Biswas
- 09 Feb, 2011
- New York City
Stocks in Mumbai decline for the second day more than 1% and closed down 3% in two days. The inflation worries and slower economic growth has worried foreign and domestic investors. Auto sales in January soared 26% and Maruti Suzuki sales surged 14.7% in the month.
- Mukesh Buch
- 09 Feb, 2011
- New York City
Bharat Petroleum fell 2.1% after net profit plunged 50%. Everonn Education gained 4% after net profit rose 56%. Mahindra & Mahindra surged 4% and net profit soared 57%. Reliance Infrastructure slumped 19% and Reliance Communications dropped 14%.