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Australian Rejects GrainCorp Takeover by ADM

Marcus Jacob
29 Nov, 2013
New York City

Resource stocks led market indexes in Australia lower. Australian government rejected a takeover offer for GrainCorp and said foreign investment in the sector is not in its best interest. Credit growth in private sector increased 0.3% in October.

Europe Earnings: Deutsche Bank, Kingfisher, Rio Tinto, Thomas Cook, Wolseley

Nigel Thomas
28 Nov, 2013
New York City

Deutsche Bank is in talks with Permira Advisers to sell Tilney Investment. Kingfisher sales jumped 8%. Rio Tinto plan to invest $3 billion to increase production capacity. Thomas Cook said loss narrowed as EBIT soared 49%. Wolseley trading profit climbed 9%.

India Movers: Alstom T&D, Eros, Nestle, Suzlon Energy

Mukesh Buch
28 Nov, 2013
New York City

Alstom T&D plan to rise up to Rs 294 crore from a secondary offering. Eros Intl jumped after Singapore-based Temasek Holdings acquired a stake. Nestle India denied media report that its parent plans to increase stake. Suzlon Energy signed contract with Mitsui Australia for 52 wind turbines.

India Movers: Alphageo, Heidelberg, Il&Fs, MRF, TCS, Tech Mahindra

Mukesh Buch
29 Nov, 2013
New York City

Alphageo won seismic data analysis contracts. Heidelberg Cement plans to issue convertible-debentures. Il&Fs subsidiary won a contract of $70 million in Ukraine. MRF net soared 12% after sales jumped 5%. Tech Mahindra and MES plan to merge.

CVS in $2 Billion Deal, American and US Air Merger Advances

Nichole Harper
27 Nov, 2013
New York City

Stocks on Wall Street gained and initial jobless claims last week declined. Durable goods orders fell in October 2% and volatile commercial aircraft orders plunged 16%. CVS agreed to acquire infusion service provider for $2.1 billion. Bankruptcy judge approved a merger between American and US Air.

Tokyo Stocks Decline, Honda Expands Capacity in Brazil

Hiruki Nakamura
27 Nov, 2013
New York City

Stocks in Tokyo declined after rising for two days in a row and the yen traded near the three-month low. Honda Motor began construction at a manufacturing plant in Brazil. Hitachi agreed to acquire India based payment processor Prizm Payment Services.

U.S. Movers: AeroVironment, Barnes & Noble, HP, Nuance, TiVo

Mukesh Buch
27 Nov, 2013
New York City

AeroVironment net tumbled 81%. Barnes & Noble net surged and revenues declined. Hewlett-Packard swung to a profit. Infoblox said net loss widened and revenue soared 28%. Nuance Communications net swung to a loss. TiVo net plummeted 79% but sales climbed 43%.

Australian Dollar Dips, ADM Revises Graincorp Offer

Marcus Jacob
27 Nov, 2013
New York City

Stocks in Sydney trading closed lower after steady gain in the morning trading. Australian dollar dipped to a three-month low. Archer Daniels Midland revised its offer for Graincorp and offered to invest in distribution infrastructure.

Europe Earnings: Accor, Generali, Informa, Royal Mail, Telford, Veolia, WPP

Nigel Thomas
27 Nov, 2013
New York City

Accor dropped after a stake sale and a decision to split the company. Generali plans to reduce

India Movers: Bharti Airtel, Cairn India, Thermax, Swan Energy, Voltas

Mukesh Buch
27 Nov, 2013
New York City

Bharti Airtel plan to sell bonds in Europe to raise $1 billion ahead of spectrum auction. Cairn India launched $1 billion stock buyback program. Thermax secured order worth Rs 269 crore. Voltas won three orders of Rs 1,000 crore in the Middle-East.

U.S. Building Permits at 5-Year High, Consumer Confidence Falls

Nichole Harper
26 Nov, 2013
New York City

Stocks advanced and extended year-to-date gains. Metropolitan home prices index increased in September. Building permits jumped to a five-year high in October and consumer confidence index declined to a seven-month low.

BoJ Minutes Show Japan Lags in Reaching Inflation Target

Hiruki Nakamura
26 Nov, 2013
New York City

The latest Bank of Japan policy committee meeting minutes showed growing agreement among policy makers that the inflation target of 2% is not likely to be reached before the end of the current fiscal year. Also, economic growth is expected to slowdown in fiscal 2014.

U.S. Movers: Cracker Barrel, DSW, Men

Mukesh Buch
26 Nov, 2013
New York City

Cracker Barrel net soared 18%. DSW net jumped 10%. Hormel Foods net climbed 19%. Men

Europe Earnings: Algeta, Britvic, De La Rue, Severn Trent, Sanderson

Nigel Thomas
26 Nov, 2013
New York City

Algeta received preliminary acquisition offer from Bayer AG. Britvic profit climbed 8%. De La Rue reported flat yearly profit. KCOM profit edged up. Mitchells & Butlers net doubled to

Australian Banks in Favor, Bega Extends Warnambool Offer Deadline

Marcus Jacob
26 Nov, 2013
New York City

Stocks in Sydney traded higher in choppy trading and Aussie dollar edged up. Banks traded near record high prices as investors rotated out of resource stocks and a rating agency reaffirmed its view on the health of banking sector. Bega Cheese extended its offer deadline for Warnambool.

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