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Japan Plans to Cut Stake in Tobacco Company, Nikkei Plunges 2.3%

Hiruki Nakamura
26 Feb, 2013
New York City

Stocks in Tokyo dropped and the yen advanced against the euro and the dollar after Italy headed for a hung parliament. Japan Tobacco eased 0.7% after the government filed to lower its stake to raise as much as $10 billion.

Weak Iron Ore Prices Pare Australian Gains; QBE, Flight Center Net Rise

Marcus Jacob
26 Feb, 2013
New York City

Australian stocks closed higher but pared gains after the spot iron ore price declined 1.1% despite the port closures in Western Australia. QBE reported full-year net increased 8%. Flight Center reported record first half net with an increase of 13%. Ramsay Health Care net rose 10%.

India Movers: Blue Dart and Sanofi Net Jump, Ranbaxy Loss Narrows

Mukesh Buch
26 Feb, 2013
New York City

Blue Dart fourth quarter net jumped 101%. Kalindee Rail extends losses ahead of railway budget. Pantaloon net swung to a loss and Ranbaxy quarterly loss narrowed. Sanofi India net jumped 24%. Kingfisher relinquishes international flight rights.

BASF Net Falls 13%, Vivendi Net Plunges 94%

Nigel Thomas
26 Feb, 2013
New York City

BASF fourth quarter net declined 13.4% and for the year net plunged 21%. Pandora plans to buy back 700 million kroner of shares this year. Vivendi earnings for the year tumbled 94%.

Wall Street Extends Global Advance, Sterling Falls on UK Downgrade

Nichole Harper
25 Feb, 2013
New York City

U.S. stocks extended global market advance after Italian elections are expected to deliver outcome favored by investors and Japan is likely to appoint the next head of central bank who prefers easier monetary policy. 2010 Gulf of Mexico oil spill trial began today against BP Plc.

Italian Exit Polls Suggest Luigi Leading Berlusconi

Barry Randall
25 Feb, 2013
New York City

Stocks across Europe soared and banks in Italy jumped more than 3% after early exit polls indicated results favored by markets. 2010 Gulf of Mexico oil spill trial against the BP Plc began in the U.S. and the company is also engaged in settlement talks with state governments.

U.S. Movers: Dillard's, Elan, FirstEnergy, Lowe

Mukesh Buch
25 Feb, 2013
New York City

Dillard''s fourth quarter net soared 14%. Elan Corp proposal of Royalty Management not lead to entire share capital of the company. FirstEnergy net swung to a $148 million loss and Lowe

Europe Movers: Pearson Profit Falls 54%, VW Profit Surges 41%

Nigel Thomas
25 Feb, 2013
New York City

Pearson, the book and newspaper publisher said operating profit for the year plunged 54% and Royalty Pharma agreed to acquire Elan Corp for $6.5 billion. Volkswagen profit for the year surged 40.9%.

Nikkei Soars 2.4% to 4-Year High on Region Trade Talks and BoJ Speculation

Hiruki Nakamura
25 Feb, 2013
New York City

The Nikkei in Tokyo soared on a speculation that the next appointee for the central bank leadership favors easier monetary policy. Prime Minister Abe showed readiness to enter Trans-Pacific Partnership trade talks.

Australian Indexes Gain; Beach Energy, Chevron in Shale Gas Partnership

Marcus Jacob
25 Feb, 2013
New York City

Australian stocks closed higher and the iron ore prices edged lower after a private survey in China indicated a slower manufacturing expansion in February. QBE is scheduled to release earnings tomorrow. Beach Energy and Chevron partner for shale gas exploration in South Australia.

India Movers: Deccan Chronicle, Jet Air, KSB Pump

Mukesh Buch
25 Feb, 2013
New York City

Claris Lifesciences fourth quarter net declined 27% and EIH net tumbled 28%. GMR Infrastructure plans to sell its 70% stake in a Singapore plant. KSB Pumps net climbed 21%. Power Finance Corp is seeking a bank license.

Stocks on Wall Street Rise on Earnings and German Confidence Data

Nichole Harper
22 Feb, 2013
New York City

U.S. stocks traded higher after Hewlett Packard and AIG results surpassed expectations. In addition, German business confidence index rose in February lifting the outlook for world exports. European Commission lowered its economic assessment of the region.

Tokyo Stocks Pare Losses, Exporters, Financials Lead Decliners

Hiruki Nakamura
22 Feb, 2013
New York City

Stocks in Tokyo traded rebounded after a day of sell-off and morning weakness. The yen eased but the makers of automobiles and electronics fell and financials led the decliners. Prime Minister Shinzo Abe is scheduled to hold a summit with the U.S. President Barack Obama.

Australian Markets Rebound; Billabong Forced to Revise Debt Terms

Marcus Jacob
22 Feb, 2013
New York City

Financial markets in Sydney traded higher after slightly positive comments from RBA Governor Glenn Stevens. Billabong reported a large loss and was forced to revise its debt terms with banks. Casino operator Crown reported 40% decline in first half profit.

U.S. Movers: AIG, Abercrombie, HP, Heinz, Safeway, Washington Post

Mukesh Buch
22 Feb, 2013
New York City

AIG fourth quarter net swung to a loss and Abercrombie & Fitch climbed more than two-fold. Hewlett-Packard first quarter net plunged 16% and said no plans to break up. Heinz third quarter net jumped 5% and Washington Post posted quarterly net swung to a loss.

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