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Market Update

Weekly Loss of 1.1% in Australian Indexes

Marcus Jacob
31 May, 2013
New York City

Australian index closed extended losses for the day and declined 1.1% in the week and fell 4.6% in the month. Australian dollar edged slightly higher. Origin Energy CEO in cautious comments said the outlook for Australian coal industry is bleak on the rising U.S. exports.

India Movers: BEL, Berger, DLF, GMR, MMTC, SAIL, Suzlon, Torrent

Mukesh Buch
31 May, 2013
New York City

BEL profit and sales surged. Berger Paints net edged up. DLF net swung to loss as revenue declined 16%.GMR Infra net swung to profit. MMTC and SAIL net tumbled. Suzlon Energy net loss widened. Torrent Pharma net swung to profit.

U.S. Movers: Big Lots, Costco, DISH Network, Express, Joy Global

Mukesh Buch
30 May, 2013
New York City

Big Lots net plunged 21%. Bank of Montreal quarterly revenue was flat and net dropped. Costco comparable store sales climbed to 6% and net surged. DISH Network revised its offer for Clearwire to $4.40 a share in cash. Joy Global profit tumbled.

U.S. GDP Growth Estimate Lowered to 2.4%, Pending Home Sales Rise

Nichole Harper
30 May, 2013
New York City

Stocks and indexes in New York traded higher and the economic growth in the first quarter was lowered in the second quarter. Pending home sales index increased 0.3% to the highest level since April 2010.

Europe Earnings: Kingfisher, Ryanair, Tate & Lyle

Nigel Thomas
30 May, 2013
New York City

Kingfisher revenue in the first quarter slid 2% and profit plunged 29%. Ryanair plans to sale stake in Aer Lingus on regulatory pressure. Tate & Lyle sales jumped but profit declined.

Nikkei Plunges 5%

Hiruki Nakamura
30 May, 2013
New York City

The Nikkei index plunged 5% and the Topix index dropped 3.8% as investors feared market surge may have been overdone. The yen eased and electronics exporters and automakers led the decliners. Fast Retailing plunged 11%.

Weak Australian Capital Spending Drags Indexes

Marcus Jacob
30 May, 2013
New York City

Australian indexes slipped on the global uncertainties but the dollar rebounded after private sector capital spending was lower than expected in March quarter. Online spending increased to 6% of total retail sales according to a private survey.

India Movers: Cadila, Cipla, IOC, M&M, NMDC, ONGC, Tata, Torrent

Mukesh Buch
30 May, 2013
New York City

Cadila Health net surged 54% but Cipla net declined 8%. IOC net profit climbed but ONGC profit plunged. M&M net surged. Madras Cements and NMDC net tumbled. Tata Motors net swung to a loss. Torrent Power net plunged.

U.S. Movers: Brown Shoe, Chico

Mukesh Buch
29 May, 2013
New York City

Chico

Europe Earnings: De La Rue, SalMar, Telford Homes

Nigel Thomas
29 May, 2013
New York City

De La Rue revenue dropped 8% but pre-tax profit for the year jumped 57% to

U.S. Indexes Lower on European Market Weakness

Nichole Harper
29 May, 2013
New York City

On Wall Street indexes fell and European markets dropped more than 1.5%. The dollar edged higher and trading sentiment was driven by the Fed bond buying timetable uncertainty. Smithfield Foods agreed to a deal from China based company. Stewart Enterprises agreed to a merger with Service Corp.

European Markets in Broad Decline of 1.5%

Nigel Thomas
29 May, 2013
New York City

European markets accelerated the decline in early afternoon from the 10% surge in six weeks on the uncertainty surround when the Fed plans to trim buying. Market indexes across the region fell as much as 1.8% and the euro weakened.

India Movers: Aditya Birla, Godrej, Hindalco, Power Grid, Sun Pharma

Mukesh Buch
29 May, 2013
New York City

Aditya Birla Nuvo sales and profit jumped. Godrej net surged and HDIL net swung to loss. Hindalco and NHPC profit plunged more than 25%. Power Grid and REC net climbed. Sun Pharma net soared 23% and Vardhman profit surged.

Nikkei and Japanese Bond Yields Rise, Yen Eases

Hiruki Nakamura
29 May, 2013
New York City

Nikkei index in Tokyo closed higher as retail investors increased stock exposure and the yen weakened. Life insurance companies gained after 10-year Japanese government bond yield rose to 0.95%.

Australian Construction Shrank 2%, New Home Sales Gained 3.9%

Marcus Jacob
29 May, 2013
New York City

Australian market index inched up for the second day in a row after five-day sell-off. Construction work in the March quarter unexpectedly declined. New home sales increased 3.9% to 6,000 units in April.