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Optimism Lifts Nikkei to 32-Month High, Yen Gains Trimmed

Nigel Thomas
15 Jan, 2013
New York City

Nikkei index in Tokyo closed at a 32-month high and the yen declined further prompting comments from Economics Minister Amari. The yen traded at a new 26-month low and markets are anticipating revised inflation target at the BoJ meeting next week.

Australian Markets Steady, Rio Tinto Plans 15% Growth in Iron Ore Output

Marcus Jacob
15 Jan, 2013
New York City

Australian stocks turned lower after resource stocks and banks failed to hold on to the gains of the day. Rio Tinto plans to increase iron ore production by 15% in 2013 and said it is on track to commence production at its gold and copper mine in Mongolia.

European Markets slide, German Economy Shrinks 0.5%

Nigel Thomas
15 Jan, 2013
New York City

European markets traded lower in the region ahead of corporate earnings. Markets accelerated losses on the worries that the U.S. debt negotiations may drag for another two months.

India Movers: Axis Bank, Bajaj Finance, Crompton Greaves, GRUH Finance

Mukesh Buch
15 Jan, 2013
New York City

Axis Bank advanced 2.2% on third quarter net profit climbed 22% and Bajaj Finance net profit jumped 33%. Crompton Greaves plans to set up second power transformer manufacturing unit. Decolight Ceramics won export order for tiles.

Renault to Trim 17% Staff in France; H&M, Burberry Sales Beat Expectations

Barry Randall
15 Jan, 2013
New York City

Renault plans to trim 17% of its staff in France in the next four years joining other automakers in the region. Burberry Group soared 7% after sales were ahead of expectations. SAP AG declined after it reported weaker than expected earnings. H&M, the apparel retailer monthly sales increase.

Stocks Falter on Washington Gridlock and Earnings Caution

Nichole Harper
15 Jan, 2013
New York City

Stocks were under pressure in New York and Washington rhetoric turned traders cautious. General caution and negative sentiment prevailed ahead of the corporate earnings release this week. Lennar reported higher than expected earnings on an increase in new orders.

U.S. Movers: Dell, Express, Forest Laboratories, Lennar, Lululemon

Mukesh Buch
15 Jan, 2013
New York City

Dell jumped on the speculation that the company may go private. Express lifted outlook for the fourth quarter and full year 2012. Forest Laboratories third quarter net swung to $153.6 million loss. Lennar fourth quarter jumped more than three-fold and new order climbed 32%.

U.S. Retail Sales Rise, Wholesale Price Index Falls

Mukesh Buch
15 Jan, 2013
New York City

Retail sales in December were ahead of expectations after consumers overlooked Washington gridlock and the prospects of future tax increase. Reported wholesale price index declined for the third month in a row, however the index does not capture the broader prices increases in the service sector.

Obama Hints Firmer Tone in Debt Talks, Fed Estimate Improving Economy

Bikram Pandey
14 Jan, 2013
New York City

Stocks struggled in New York and merger deals drove market sentiment in Europe. President Obama hinted firmer tone in the next debt ceiling negotiations and Fed official estimated accelerating economic growth in the next two years. UPS abandoned its $6.9 billion deal to but TNT Express.

European Output Declines For Third Month, Markets Struggle

Barry Randall
14 Jan, 2013
New York City

European markets were weak across the region but merger activities lifted larger markets. Industrial production declined 3.7% in November, third monthly decline in a row.

Europe Movers: France to Pay

Nigel Thomas
14 Jan, 2013
New York City

TNT Express plunged after UPS abandoned its offer for the parcel delivery company. Swatch Group gained 4% after it agreed to acquire luxury watch unit of Harry Winston. Saint Gobain gained after it received an offer for its glass division in North America.

Apple Speculation Drags U.S. Indexes

Nichole Harper
14 Jan, 2013
New York City

Stocks in New York traded lower ahead of comments from Fed officials. Tech stocks led the decliners on the speculation of weaker-than-expected demand for popular phones from Apple. UPS withdrew its offer for TNT Express.

Australian Home Loans Approvals Fall, Credit Card Balance Fall Record 2.3%

Marcus Jacob
14 Jan, 2013
New York City

Australian stocks trimmed gains and new home loans approvals declined in November. Job advertisements fell for the tenth month in a row as businesses restrain from hiring on record strength in the dollar. Consumers repay debt to lower debt and repair personal balance sheet.

UPS Withdrew $6.9 billion TNT Offer, Harry Winston Sells Watch Unit

Mukesh Buch
14 Jan, 2013
New York City

Harry Winston agreed to sell its watch division to Swatch Group for $750 million. PPG Ind said fourth quarter net climbed 5%. UPS withdrew its $6.9 billion offer for TNT Express. V.F. Corp and Altamont offered to acquire Australia based Billabong for $555 million.

India Movers: Jaiprakash Power Swings to Loss, TCS Up 3.5%

Mukesh Buch
14 Jan, 2013
New York City

Jaiprakash Power third quarter net loss swung to a quarterly loss. JSW Steel said third quarter steel production increased 8%. Petronet LNG third quarter climbed 7.8% and Tata Consultancy Services net profit in the quarter grew 3.5% to nearly $700 million.

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