ticker

PIMCO CEO Resigns as Fund Outflow Accelerates

Nigel Thomas
22 Jan, 2014
New York City

Allianz said PIMCO CEO Mohamed El-Erian resigned. Credit Agricole agrees to sell its Bulgaria division to reduce

Bank of Japan Leaves Monetary Stimulus Intact, Inflation Accelerates

Hiruki Nakamura
22 Jan, 2014
New York City

The Bank of Japan kept its annual plan to pump between 60 trillion yen and 70 trillion yen intact and left its inflation outlook unchanged. The accompanying statement after a 2-day meeting noted the impact of April sales tax increase on the economy.

BHP Production Surges, Australian Annual Inflation at 2.7%

Marcus Jacob
22 Jan, 2014
New York City

Australian inflation in the December quarter was ahead of expectations and rose 2.7% annual rate. BHP Billiton said iron ore production increased 16% in the last quarter, copper production rose 6% and petroleum production declined 4%. Mount Gibson reported record first-half iron ore sales.

India Movers: Dabur Net Surges, Colgate Struggles; HDFC Net Up 12%

Mukesh Buch
22 Jan, 2014
New York City

Ashok Leyland net swung to a loss. Colgate net rose 2% and operating profit margin declined 17%. Dabur net climbed 15% on 17% increase in sales. HDFC net jumped 12%. M&M net plunged 16%. Torrent profit surged 41%. Thermax net declined 13%. Zee net jumped 10%.

U.S. Indexes Turn Lower, IMF Lifts Global Growth Outlook

Nichole Harper
21 Jan, 2014
New York City

U.S. stocks extended losses for the third day in a row and the dollar was in focus after the yen and euro edged lower. The IMF lifted its economic outlook for 2014 as advanced economies face fewer obstacles and interest rates are expected to stay near record low.

Yen Slides, NEC Sells Biglobe

Hiruki Nakamura
21 Jan, 2014
New York City

Stocks in Tokyo gained as the yen continued its slide towards 105 level. Cosmo Oil signed an agreement with Spain based CEP to develop natural gas fields. NEC agreed to sell its Internet service provider service Biglobe for 70 billion yen.

Baker Hughes, Dow, Delta Air Jump; Halliburton, J&J Drop

Mukesh Buch
21 Jan, 2014
New York City

Baker Hughes net soared 16%. Dow Chemical surged after on media reports that an activist investor took a significant position. Delta net surged on $8 billion tax valuation allowance. Halliburton net climbed 19%. J&J net surged 35%. Verizon net swung to a profit.

Australian Markets Rebound but Dollar Extends Weakness

Marcus Jacob
21 Jan, 2014
New York City

Australian market indexes closed higher led by stronger financial stocks. Australian dollar eased further for the second week in a row. Nucoal Resources Limited plunged to a record low after New South Wales canceled its mining license on corruption charges.

Europe Earnings: Alstom Plunges 12%, Unilever Net climbs 9%

Nigel Thomas
21 Jan, 2014
New York City

Alstom plunged 12% after it lowered fiscal outlook and revenue declined 2%. IMI will return

India Movers: Asian Paints and Kotak Mahindra Net Drops

Mukesh Buch
21 Jan, 2014
New York City

Asian Paints net fell 2% and revenue climbed 13%. Century Ply net swung to a profit. Emami third-quarter net climbed 31% on 7% increase in sales. Jet Airways starts daily Mumbai-Paris flight from May 14. Kotak Mahindra dropped after net declined 6%.

Yen in Focus, Nintendo Plunges 6%

Hiruki Nakamura
20 Jan, 2014
New York City

Stocks in Tokyo closed lower and the yen extended losses after China reported slower but healthy economic growth and strong fixed assets investment and retail sales. Nintendo plunged 6% after the video game maker lowered its Wii U

Australian Markets Trim Losses on China Economic Data

Marcus Jacob
20 Jan, 2014
New York City

Australian stocks reacted to better than expected economic data from China and trimmed early losses. China

Europe Earnings: AB InBev, Blinkx, Deutsche Bank, Legal & General, Peugeot

Nigel Thomas
20 Jan, 2014
New York City

AB InBev agreed to buy back South Korea

India Movers: Wipro Net Edges Up 4%, UltraTech Net Plunges 38%

Mukesh Buch
20 Jan, 2014
New York City

Dewan Housing net climbed 52%. Kajaria Ceramics net jumped 16%. PTC India net surged more than three-fold. Subex won five new customer deals worth $10 million. UltraTech Cement net plunged 38%. Vakrangee profit soared 56%. Wipro net increased 4%.

Record U.S. Indexes as Investors Weigh Earnings

Nichole Harper
17 Jan, 2014
New York City

U.S. stocks traded sideways and investors digested several earnings reports. General Electric earnings rose but fell short of expectations. American Express net doubled. Morgan Stanley and UPS results were lower than expected. Consumer confidence index eased in December.

Market Update