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Market Update

Europe Movers: Bellway, Kazakhmys, Kingfisher, Resolution, Wolseley

Nigel Thomas
26 Mar, 2013
New York City

Bellway said profit for the first half surged 51% and Kazakhmys said loss for the year swung to $2.27 billion. Kingfisher annual profit dropped 12% to

India Movers: Bharti Airtel, Educomp, L&T, MTNL, Suzlon, TCS

Mukesh Buch
26 Mar, 2013
New York City

Bharti Airtel is set to raises $250 million through dollar bonds. Educomp sold 50% stake sale in Eurokids International. L&T plan to buy 50% stake in Future Generali from Pantaloon. Suzlon raised $650 million to restructure debt holdings.

Cyprus to Shrink Banking Sector, Levy 40% Tax on Uninsured Deposits

Nigel Thomas
25 Mar, 2013
New York City

Cyprus struck a late night deal in Brussels with European lender that will effectively shrink its banking sector and shift the cost of bailout to larger uninsured depositors and close its second largest banks.

U.S. Movers: Apollo Group, Best Buy, Cascade, Dollar General

Mukesh Buch
25 Mar, 2013
New York City

Apollo Group second quarter net plunged 79%. Best Buy co-founder Richard Schulze has returned as chairman emeritus. Cascade fourth quarter net tumbled 57%. Dollar General fourth quarter net surged 9% to $317.4 million.

Wall Street Extends Global Markets Advance on Cyprus Deal

Nichole Harper
25 Mar, 2013
New York City

Stocks on Wall Street advanced and extended gains in European markets after Cyprus and European lenders struck a deal and averted a crisis in the euro zone. Dell received two alternative proposals from Blackstone Group and investor Carl Icahn. Apollo Group soared 10% on better than expected results.

Europe Movers: Centrica, Schroders, TNT Express

Nigel Thomas
25 Mar, 2013
New York City

Centrica agreed to buy natural gas from Cheniere worth

Sharp Rebound in Nikkei Leads Asian Markets

Hiruki Nakamura
25 Mar, 2013
New York City

The yen eased and the benchmark index rebounded after European regulators averted a brewing financial crisis linked to Cyprus that threatened to spill over in the currency union. Consumer finance, securities brokers and auto maker led the gainers.

Australian Stocks and Dollar Rebound with Asian Markets

Marcus Jacob
25 Mar, 2013
New York City

Australian stocks rebounded and participated in Asia-wide rally after Cyprus struck a deal with European lenders for an emergency bailout that will avoid taxing deposits that are insured by the European Union.

India Movers: Colgate, Cairn India, Reddy

Mukesh Buch
25 Mar, 2013
New York City

Colgate India agreed to transfer a division to a parent company controlled subsidiary for $11 million. Cairn India lowered its energy production target for 2014. Dr. Reddy

Stocks Advance on Wall Street on Earnings, Cyprus Worries Linger

Nichole Harper
22 Mar, 2013
New York City

Market indexes shrugged off rising tensions in the euro zone. The dollar gained against the euro zone. Better than expected results from Tiffany, Nike and Darden Restaurants lifted market sentiment. Markets in Asia fell but in Europe erased early losses.

U.S. Movers: Darden, Nike, rue21, Supervalu, Tibco Software, Tiffany

Mukesh Buch
22 Mar, 2013
New York City

Darden Restaurants third quarter net declined 18% and Nike net surged 55% to $866 million. rue21 fourth quarter net slipped 11%. Supervalu sold its five retail grocery banners valued $3.3 billion. Tiffany fourth quarter net edged up.

Europe Movers: BP, Homeserve, Mulberry, MAN, Schroders

Nigel Thomas
22 Mar, 2013
New York City

BP plans to buy back $8 billion in shares and completed 50% stake sale in its Russian venture to Rosneft. Homeserve lowered its outlook. Mulberry said profit before tax for the year is expected to below market expectations. Schroders agree to buy Cazenove Capital.

Nikkei in Tokyo Drops 2.4% on Cyprus Worries

Hiruki Nakamura
22 Mar, 2013
New York City

Stocks in Tokyo fell sharply on the growing uncertainties in the euro zone. The yen gained and commodities eased in Tokyo trading. Broadleaf, a software developer surged 37% on the first day of its trading in Tokyo.

Largest Weekly Drop in Australian Stocks in a Year

Marcus Jacob
22 Mar, 2013
New York City

Stocks in Sydney traded higher after a decline for 4-days and the benchmark index closed down 3%, largest fall in a year. Banks led the advance.

India Movers: Cairn India, HDFC, HCL, ING Vysya, SAIL, TBZ

Mukesh Buch
22 Mar, 2013
New York City

Cairn India began sale of natural gas in Gujarat. HDFC plans to raise $92 million through a bond offering. HCL launch ME tablet in Turkey. ING Vysya becomes 100% subsidiary of Exide. SAIL secondary issue 98% subscribed.