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Second Weekly Decline in Iron Prices, Australian Stocks Falter

Marcus Jacob
30 May, 2014
New York City

Australian market indexes declined on Friday and for the week closed unchanged after spot iron ore prices traded below $100 per ton for the second week in a row. The RBA said total credit increased 0.5% in April. Lynas Corp completed $40 million stock offering.

India Movers: BHEL, Cipla, DLF, L&T, M&M, ONGC, Sun Pharma, Tata

Mukesh Buch
30 May, 2014
New York City

BHEL net and revenue plunged. Cipla profit dropped 6%. DLF net swung to profit. L&T net surged 69%. M&M profit edged up. ONGC net surged 44%. Power Grid Corp profit jumped. Sun Pharma profit soared 57%. Tata Chemicals net loss widened and Tata Motor net rose 0.7%.

Abercrombie, Palo Alto, Sanderson Farms Jump; Tech Data Drops

Mukesh Buch
29 May, 2014
New York City

Abercrombie net loss widened after sales fell. Costco net rose 3% and sales climbed 7%. Chico''s profit jumped 6%. Palo Alto net loss widened but revenue soared 49%. Pall net surged 21%. Sanderson Farms profit climbed 14%. Tech Data net plunged 24%.

Europe Earnings: Kingfisher, Man Group, Paypoint, Severn Trent, Tesco

Nigel Thomas
29 May, 2014
New York City

Helical Bar profit and revenues surged. Kingfisher net soared 19% to

Stocks on Wall Street Zigzag, Weekly Jobless Claims Fall

Nichole Harper
29 May, 2014
New York City

U.S. stocks opened higher and weekly jobless claims declined 27,000. The U.S. economy shrank at annual pace of 1% in the second estimate after the impact of winter freeze was deeper than expected.

U.S. GDP Contracts on Deeper Winter Slowdown

Mukesh Buch
29 May, 2014
New York City

The U.S. gross domestic product in the first three months on 2014 declined at 1% annual compared to first estimate of 0.1% increase, the Commerce Department reported today.

Retail Sales in Japan Drop, Mitsubishi UFJ Acquires Fund Administrator

Hiruki Nakamura
29 May, 2014
New York City

The Nikkei Stocks Average gained in thin trading and the yen held firm below 102 against the U.S. dollar. April retail sales plunged 13.7%, after the announced sales tax increase brought forward sales in March. Mitsubishi UFJ agreed to acquire Bermuda based hedge fund administrator.

Iron Prices Drop to 20-month Low, Australian New Home Sales Rise 2.9%

Marcus Jacob
29 May, 2014
New York City

Australian market indexes closed lower and investors turned cautious after spot iron ore price dropped below $97 a ton. Australian private capital expenditure declined 4.2% and new home sales in April increased 2.9%.

India Movers: BPCL, Bajaj, Coal India, Escorts, Hero, Hindalco, IOC, Tata

Mukesh Buch
29 May, 2014
New York City

BPCL net declined 15% and IOC net plunged 35% despite higher government subsidies. Bajaj Electricals net swung to a loss. Coal India net plunged. Hero Motocorp profit slipped. Hindalco net declined 48%. NALCO profit dropped 30%.

Valeant Lift Allergan Offer and Sell its Skin Care Rights to Nestle

Mukesh Buch
28 May, 2014
New York City

DSW plunged on weak quarterly results. Toll Brothers quarterly net surged nearly three-fold. Valeant lifted takeover offer for Allergan and sold its skin care products right to Nestle for $1.4 billion in cash. Workday net loss widened.

S&P 500 Index at Record Intra-day High, Valeant Lifts Allergan Bid

Nichole Harper
28 May, 2014
New York City

U.S. stocks traded near flat line and investors looked ahead to GDP report tomorrow. Valeant lifted its offer for Allergan to $50 billion and increased cash portion. German unemployment increased for the first time in six months in May.

Europe Earnings: De La Rue, Glaxo, Origin Enterprises, Weir

Nigel Thomas
28 May, 2014
New York City

De La Rue profit climbed 25% to

Construction Companies Lead Nikkei's Advance in Tokyo

Hiruki Nakamura
28 May, 2014
New York City

Nikkei in Tokyo advanced and the year traded near 2-month high and construction companies were in focus on the expectations of city development tax incentives. Senko Co said annual sales and net income rose.

Australian Indexes Struggle Near 6-Year High

Marcus Jacob
28 May, 2014
New York City

Australian market indexes closed at six-year highs on the strength in banks. Precious metal miners declined after spot gold price dropped 2% to a three-month low. Qantas plans to eliminate 450 call centre jobs in Australia.

India Movers: Apollo, Havells, JSW Steel, Jet Airways, Oil India, SCI

Mukesh Buch
28 May, 2014
New York City

Apollo Hospitals net jumped 7%. Havells India profit climbed 25%. Hawkins net soared. JSW Steel net surged 63%. Jet Airways net loss widened. Oil India net and sales plunged. SAIL profit edged up. SCI surged after net swung to profit. Thermax profit dropped 8%.

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