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Market Update

European Markets Drops on Spain Election Results and Greek Worries

Nigel Thomas
25 May, 2015
New York City

Spain

Independence Offers A$1.8 B for Sirius, Australian Indexes Advance

Marcus Jacob
25 May, 2015
New York City

Australian market indexes closed higher on Merger Monday. Independence offered to acquire Nickel miner Sirius Resources for $1.8 billion and said it will spin-off the merged asset as a new company.

Senesex in India Drops 1%; Petronet, Mangalore Refinery Net Rises

Mukesh Buch
25 May, 2015
New York City

Market indexes in Mumbai dropped 1% and investors turned cautious after markets in Asia declined. ITC said net in the quarter rose 4%. Chennai Petroleum net soared 20%. City Union Bank net climbed 19%. DCW net surged 92%. Gujarat State Petronet and Mangalore Refinery net climbed.

Pick Up in Inflation and U.S. Stocks Rest Ahead of Memorial Day Weekend

Nichole Harper
22 May, 2015
New York City

Core rate of inflation in April rose faster than expected as prices excluding food and fuel advanced. Stocks meandered ahead of Memorial Day weekend. The Dutch government announced a plan to sell its stake in ABN Amro as early as in the fourth quarter.

Expedia Sells eLong Stake; Intuit Lifts Forecast, HP Sales Fall 7%

Mukesh Buch
22 May, 2015
New York City

Expedia sells its 62.4% stake in China-based eLong for $671 million. Aeropostale net loss narrowed. Brocade net swung to profit. Campbell Soup net slid. Deere net tumbled 30%. Foot Locker profit soared 14%. Gap net declined 8%. HP net plunged 23%. Intuit lifted outlook.

Bank of Japan Holds Bond Program, Nikkei in 6-Day Rally

Hiruki Nakamura
22 May, 2015
New York City

Bank of Japan offered a slightly upbeat assessment of the economic recovery and held its unprecedented monetary stimulus. Stocks rallied for the sixth session in a row. Market capitalization of stocks on the mainboard of TSE closed at a record high after 26 years.

Iron Ore Price at 3-Week Low, Australian Miners Ease

Marcus Jacob
22 May, 2015
New York City

Australian market indexes struggled after iron ore prices declined for the eighth session in a row and dropped to a 3-week low. The latest decline in the Australia

AXA to Acquire Insurer in Brazil; Richemont, Severn Trent Net Decline

Nigel Thomas
22 May, 2015
New York City

Axa agreed to acquire SulAm

State Bank of India Net Surge Powers Sensex Advance

Mukesh Buch
22 May, 2015
New York City

State Bank of India said quarterly net soared 23% and net non-performing assets declined. Regional banks surged in the sector rally. Voltas soared 8% on 18% increase in quarterly profit. Britannia surged 7% on a 55% surge in net. Indiabulls net income doubled.

Fed Powered Market Ascent Continues on Wall Street

Nichole Harper
21 May, 2015
New York City

Market indexes powered ahead and further in the record zone after weekly jobless claims met expectations. Fed minutes also supported the view that rates are not likely to rise at least for another two months and increase is likely to be modest.

CVS Health in $13 B Deal with Omnicare; Best Buy Climbs, NetApp Plunges

Mukesh Buch
21 May, 2015
New York City

CVS Health agreed to acquire Omnicare for $12.7 billion. Cato net jumped 4%. Best Buy net plunged 72%. Buckle profit declined 10%. Dollar Tree net plunged 50%. L Brands profit surged 60%. NetApp net plummeted 32%. Salesforce net swung to profit.

Nikkei at New 15-Year High, Takata May Take Years to Solve Air Bag Recall

Hiruki Nakamura
21 May, 2015
New York City

Nikkei average in Japan jumped to a new 15-year high for second day in a row and banks, utilities and electronics makers led the gainers. Takata was in focus after the airbag maker faced parts shortages to deal with larger recall.

Daily Mail, Royal Mail Net Climb; National Grid, Suedzucker Net Decline

Nigel Thomas
21 May, 2015
New York City

Daily Mail net surged 82%. National Grid profit tumbled 19% to

Australian Indexes Advance, James Hardie Soars

Marcus Jacob
21 May, 2015
New York City

Australian market indexes traded higher in moderate trading and the Aussie dollar held firm near 79 U.S. cents. James Hardie soared 11% after the company offered a special dividend and announced a stock buyback program.

India Earnings: Bajaj Auto, Zee, DLF Net Fall; Tata Steel Swings to Loss

Mukesh Buch
21 May, 2015
New York City

Zee said net in the quarter rose 6% on 20% increases in revenues. Bajaj Auto net declined 19%. DLF net slipped 22%. Tata Steel net swung to a loss. Balaji Telefilms net swung to profit.