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Market Update

Australian Jobless Rate Rises to 6%, Caltex Net Doubles

Marcus Jacob
09 Jul, 2015
New York City

Aussie dollar closed below 75 U.S. cents and markets return to calm after Chinese regulators succeeded in arresting the sustained fall in market indexes. Australian jobless rate increased to 6% in June. Caltex Australia said first-half profit more than doubled.

Calls for Greek Debt Restructuring Grow, Enel in $3.5 Deal with Endesa

Nigel Thomas
09 Jul, 2015
New York City

AstraZeneca sell its international rights for gastroenterology drug to Switzerland-based Tillotts Pharma. Associated British Foods group revenues increased 2%. Balfour Beatty forecasted pre-tax profit of about

Sensex in India Falls; Essar and Rosneft in Refinery Sale Talks

Mukesh Buch
09 Jul, 2015
New York City

Essar Oil plans to sell its 49.9% stake in its Vadinar refinery to Russia-based Rosneft. Eros International is in advanced talks to sell 10% stake in Eros Now.

Sustained Plunge in Shanghai Worries Global Financial Markets

Nichole Harper
08 Jul, 2015
New York City

World markets and commodities extend losses as Chinese regulators fail to contain the deepening crisis of confidence in Shanghai. Crude oil dropped for the fifth day in a row and approached $51 a barrel in New York trading. In addition, all trading on the NYSE is halted for technical reasons.

3% Drops in Nikkei Extends Asian Markets Decline

Hiruki Nakamura
08 Jul, 2015
New York City

Nikkei average in Tokyo dropped 3% after a sustained plunge in Chinese stocks extended to commodities and currencies market with worldwide implications. In a preliminary estimate, exports in June for the first three weeks rose 10% and imports dropped 5.5%.

Accenture to Buy China Focused Digital Agency, Container Store Surges

Mukesh Buch
08 Jul, 2015
New York City

Accenture agreed to acquire Hong Kong-based PacificLink. BB&T received Federal Reserve approval to acquire Susquehanna Bancshares. Container Store net loss widened. Chase Corp net soared 13%. VMware affirmed revenues and earnings forecast.

New 2015-Low in Commodities, Australian Indexes Drop 2%

Marcus Jacob
08 Jul, 2015
New York City

Australian indexes dropped 2% after Chinese sell-off extended losses to more than 30% in the last four weeks. Iron ore, coal, copper and crude oil prices declined to new lows in 2015.

Greece Requests 3-Year Bailout Lacking Reform Details

Nigel Thomas
08 Jul, 2015
New York City

Greece formally requested a bailout but the proposal lacked details on reforms as banks are expected to run out of cash as early as tomorrow. CropEnergies said net surged seven-fold but bioethanol maker lowered fiscal revenues outlook. Daejan profit jumped 49% to

China Plunge Sparks Asia-wide Sell-off, Sensex Drops 1.7%

Mukesh Buch
08 Jul, 2015
New York City

Sensex in Mumbai declined following an Asia-wide sell-off after the Shanghai index plunged 7%. NMDC plans to establish three-million-tons-a- year steel plant in Karnataka. Saavn to raise $100 million as the music streaming service ramps up marketing.

Oil, Copper at 2015-Low; Asian Investors Cast Doubts on Propped Up Euro

Nichole Harper
07 Jul, 2015
New York City

Crude oil, natural gas, coal and copper trade at 2015-low after Chinese stocks extended losses in the third week. The ongoing turmoil in the euro zone also weighed on the world market sentiment. Asian investors worry that European bias is propping up the euro.

AMD, Schulman Plunge on Lower Outlook

Mukesh Buch
07 Jul, 2015
New York City

Advanced Micro Devices tumbled on weak revenues outlook. Schulman net swung to a loss and lowered earnings forecast. Euronet agreed to acquire XE. Horizon Pharma propose to acquire Depomed for $3 billion.

Sensex in India Falls; L&T Finance in Stake Sale Talks

Mukesh Buch
07 Jul, 2015
New York City

Reliance plans to sell 3.1% stake in Network18. IRB Infra won an order worth ₹2,650 crore or $400 million from the National Highways Authority of India. Sterlite Tech secured an order of $1.1 in defence sector.

Nikkei Rebounds 1.3%, Seven & I Jumps on Sales Outlook

Hiruki Nakamura
07 Jul, 2015
New York City

Nikkei average rebounded a day after Greek historic no vote as investors focused on domestic and regional economic news. Seven & I forecasted net sales in first-half to jump 5%. Dentsu gained after reporting better-than-expected sales in June.

Rates on Hold in Australia, Elevated Housing Market Worries RBA

Marcus Jacob
07 Jul, 2015
New York City

Reserve Bank of Australia left its reference rate unchanged and offered a slightly optimistic outlook for the economy but also highlighted elevated home prices especially in large cities.

Axel Springer and ProSiebenSat.1 are in Merger Talk

Nigel Thomas
07 Jul, 2015
New York City

Axel Springer and ProSiebenSat.1 AG are in merger talks. 3i Infrastructure and AMP agreed to acquire 50% stake in the Denmark-based ESVAGT for