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Australian Indexes Track Lower Iron Ore Price, UGL Plunges 17%

Marcus Jacob
15 May, 2013
New York City

Australian indexes slipped after spot iron ore price declined in China and BHP highlighted restrained capital expenditure plan. Australian dollar traded at a new low for the year. UGL Limited plunged 17% on lowered earnings outlook.

India Movers: Bajaj, DLF, GVK Power, Hindalco, Pfizer, Muthoot Finance

Mukesh Buch
15 May, 2013
New York City

Bajaj Finance fourth quarter net soared 52% and DLF offering was oversubscribed. GVK Power net loss widened and Novelis controlled by Hindalco said its net dropped to $202 million. Pfizer net climbed 21% and Karnataka Bank declined 19%. Muthoot Finance net plunged 26%.

U.S. Movers: Pan American Silver, Sony, Ranbaxy, Valspar

Mukesh Buch
14 May, 2013
New York City

Pan American Silver second quarter net plunged 60% and Post Holdings net tumbled 59%. Sony jumped after hedge fund Third Point proposed spin-off of its entertainment division. Ranbaxy settles U.S. claims for $500 million. Valspar second quarter net edged up.

U.S. Stocks Extend Gains, Global Markets Cautious

Nichole Harper
14 May, 2013
New York City

U.S. indexes traded higher after bulls took charge of trading and financials and industrials led the gainers. Import price index fell 0.5% on lower oil prices. Euro declined after German investor confidence index was lower than expected and industrial production increased in the euro zone.

Europe Earnings: Aurubis, ICAP, Intesa Sanpaolo, Severn Trent, Tata Steel

Nigel Thomas
14 May, 2013
New York City

Aurubis second quarter net declined 80% and ICAP net for the year plunged 18%. Intesa Sanpaolo first quarter net tumbled 62%. Tata Steel wrote off $1.6 billion for its Corus purchase and blamed on European steel demand weakness.

Tokyo Stock Retreat; Pioneer, Yamaha Motor in Focus

Hiruki Nakamura
14 May, 2013
New York City

Stocks in Tokyo traded lower and the yen declined and market indexes edged lower from the recent 5-year highs. Yamaha Motor reported lower than expected earnings. Pioneer surged 26% after the company plans to sell stakes to Mitsubishi Electric and NTT DoCoMo.

Australia Faces Rating Downgrade as Budget Deficit Soars to $19 Billion

Marcus Jacob
14 May, 2013
New York City

Australian government delayed its goal of returning to a budget surplus to 2015 and revised its deficit estimate for the current fiscal year to $19.4 billion. Australia faces a possible credit rating downgrade after the latest budget estimate.

India Movers: Ranbaxy Settles U.S. Claims, Tata steel Writes off $1.6 billion

Mukesh Buch
14 May, 2013
New York City

Amtek Auto third quarter net soared nearly three-fold and Dr. Reddy

U.S. Movers: Cellcom, Dell, Elan, Stratasys, Valhi

Mukesh Buch
13 May, 2013
New York City

Cellcom Israel first quarter net plunged 61% and Dell special committee seeks information from Carl Icahn. Elan Corporation agreed to pay $1 billion to buy 21% royalties. Valhi net swung to profit.

Stocks on Wall Street Search Direction, Retail Sales Rise

Nichole Harper
13 May, 2013
New York City

Stocks on Wall Street traded sideways and retail sales in April rose unexpectedly. Markets in Europe eased but in Japan soared after the yen dropped to a new 5-year low.

Yen Slides to 5-Year Low and Lifts Nikkei to a New High

Hiruki Nakamura
13 May, 2013
New York City

The yen declined more and broader market indexes extended gains after G7 ministers offered a tacit approval to the latest yen weakness. Traders are looking for the yen to drop to 115 against one dollar and the Nikkei index to jump above 15,000. Exporters were in demand in trading today.

Europe Earnings: Blinkx, Lonmin, Partnership Assurance, Via Varejo

Nigel Thomas
13 May, 2013
New York City

Blinkx profit for the year surged nearly six-fold. Lonmin in the first-half climbed three-fold. Partnership Assurance Group plans a listing in London. Klein family plans to sell stake in Via Varejo for $988 million.

Australian Dollar Drops to One-Year Low, Indexes Struggle

Marcus Jacob
13 May, 2013
New York City

Australian indexes traded sideways and the dollar closed below parity with the U.S. currency and to the lowest last seen in June. Resource stocks led the decliners. Westside Retail Trust said lease rates at new leases in Australia are lower than a year ago.

India Movers: RPower Net Climbs; BOB, BOI, Dena Bank Net Decline

Mukesh Buch
13 May, 2013
New York City

Bank of Baroda fourth quarter net declined 32%, Bank of India net declined 21% and Dena Bank net plunged 51%. J.K. Cement net dropped 30%. Nestle India net was nearly flat and RPower net climbed 15%. Sobha Developers net declined 28%.

U.S. Movers: Apache, Dell, Dish Network, Priceline, Telus

Mukesh Buch
10 May, 2013
New York City

Apache first quarter net dropped 9% and CareFusion quarterly net surged 163%. Dish Network net declined 40% and Telus Corp net jumped 14%. Priceline net climbed 40% to $244.3 million. Telus Corp net jumped 14%.

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