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Market Update

Tokyo Indexes Drift Lower

Hiruki Nakamura
17 Jan, 2014
New York City

Stocks in Tokyo traded mixed and market indexed fell 0.9% in the week. Foreign investors sold a net 287 billion yen of Japanese stocks in the week ending on Jan 10, Ministry of Finance reported today. Nintendo dropped on weak outlook.

American Express, Morgan Stanley Rise; GE, Intel Fall

Mukesh Buch
17 Jan, 2014
New York City

American Express net doubled. Carlyle agreed to acquire Ortho-Clinical business of J&Johnson for $4.15 billion. GE net jumped 5%. Morgan Stanley net plunged 85% but revenue jumped 11%. Intel net advanced 6%. Schlumberger net surged 22%.

Europe Earnings: Accor, Essilor Intl, Pandora, Shell

Nigel Thomas
17 Jan, 2014
New York City

Accor said quarterly sales fell 3% to

Australian Indexes Fall 0.1%, Aussie Dollar at 42-Month Low

Marcus Jacob
17 Jan, 2014
New York City

Australian market indexes closed lower on Friday and declined 0.1% in the week. The Aussie dollar continued its steady slide and dropped to a 42-month low. Woodside Petroleum secured a site to build LNG processing facility in Canada.

Reliance Industries and Tata Consultancy Report Record Profits

Mukesh Buch
17 Jan, 2014
New York City

HDFC Bank net surged 25%. Hindustan Zinc net jumped 7%. ITC net soared 16.3%. MindTree plunged after net declined 31%. Reliance net rose 0.2% to $0.9 billion and revenue jumped 10% to $17.2 billion. TCS net surged 15%.

Wall Street Stocks Lower on Earnings Disappointments

Nichole Harper
16 Jan, 2014
New York City

U.S. market indexes drifted lower after weaker than expected earnings from Citigroup, Goldman Sachs and United Health. Best Buy Co plunged nearly one third after sales lagged in holiday period. Weekly jobless claims declined 2,000 last week.

Best Buy Plunges 28%, Weak Results from Citi and Goldman

Mukesh Buch
16 Jan, 2014
New York City

BlackRock net surged 24% and revenue jumped 9%. BB&T net advanced 6%. Best Buy holiday sales dropped. Citigroup fourth-quarter net plunged 17%. Goldman Sachs net climbed 6%. UnitedHealth net surged 15% on revenue increase of 8%.

Volatile Nikkei Closes Higher, Japanese Machinery Orders Rise

Hiruki Nakamura
16 Jan, 2014
New York City

Stocks in Tokyo diverged and market indexes closed higher at close in a volatile trading session. Core machinery orders surged 9.3% in November. Mitsubishi Motors advanced 8% on 154% sales surge in China.

Europe Earnings: Sports Direct, Richemont, Carrefour, Home Retail, Ahold

Nigel Thomas
16 Jan, 2014
New York City

Sports Direct acquired 4.63% stake of Debenhams. Richemont revenues gained 3% to

Australian Markets Rebound, Miners Report Production Growth

Marcus Jacob
16 Jan, 2014
New York City

Australian market indexes rebounded on better-than-expected production reports from mining and energy companies. The Aussie dollar edged lower. Rio Tinto said annual production in Pilbara region increased 5%. Woodside Petroleum sales declined less than expected.

India Movers: Axis Bank, Bajaj Auto, HCL, KEC, LIC Housing, L&T

Mukesh Buch
16 Jan, 2014
New York City

Axis Bank net climbed 19% Bajaj Auto net soared 11%. HCL net jumped 6%. KEC Intl secured orders worth Rs 1,215 crore. LIC Housing Finance net surged 38%. L&T unit secured new orders for Rs 1,000 crore.

S&P 500 Index Nears Record, BofA Earnings Lift Sentiment

Nichole Harper
15 Jan, 2014
New York City

Market indexes on Wall Street advanced after Bank of America reported better than expected. New York region manufacturing index showed a stronger than expected growth. World Bank lifted its global economic growth estimate.

Indexes in Japan Rebound 2%; Hitachi and NTN Surge

Hiruki Nakamura
15 Jan, 2014
New York City

Stocks in Tokyo rebounded after the yen reversed its three-day advance. Market indexes jumped at least 2% after Topix dropped the most since August. Bearings makers and Hitachi Ltd jumped on earnings expectations.

U.S. Movers: AEP, Bank of America, Fastenal, GM, Linear Tech, WNS

Mukesh Buch
15 Jan, 2014
New York City

AEP net plunged 54%. Bank of America net surged to $3.44 billion as mortgage losses ease. Fastenal net rose 0.5% and net sales climbed 8%. GM plans to open four plants in China through 2015. Linear Technology net surged 18%.

Burberry Soars on Earnings, H & M December Sales Rise

Nigel Thomas
15 Jan, 2014
New York City

Burberry said retail revenue surged 14% to