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Market Update

Australia Lowers Economic and Fiscal Outlook, Stocks Fall

Marcus Jacob
22 Oct, 2012
New York City

Australian stocks turned lower from a new 15-month high on the weakness in resource sector. Australian government lowered its estimate of surplus and mining industry tax receipts over next four years.

Stocks Slide on Earnings and Euro Zone Worries

Bikram Pandey
19 Oct, 2012
New York City

Market indexes fell more than 1.5% after corporate earnings disappointed investors. European markets also closed lower as European leaders fail to resolve difference for a single banking supervision authority. Market indexes have jumped six-fold since 22% decline on Black Monday 25 years ago.

Best Weekly Gain of 5.5% in Nikkei Since December

Nigel Thomas
19 Oct, 2012
New York City

Nikkei index in Tokyo extended gains for the fourth day in a row as the yen weakened. The Nikkei jumped above 9,000 and closed more than 5% in the best weekly gain since December. China linked stocks advanced on the hopes of deceleration in the growth decline.

U.S. Movers: Air Products, Baker Hughes, GE, Honeywell, McDonald

Mukesh Buch
19 Oct, 2012
New York City

Air Products fourth quarter net declined 57% and Baker Hughes third quarter net plunged 60%. General Electric net increased 8% but foreign exchange fluctuations affected revenues. Honeywell net climbed 10%. McDonald

Australian Indexes at New 15-Month High

Marcus Jacob
19 Oct, 2012
New York City

Australian stocks closed at a new 15-month high after sentiment recovered in the mining sector. European leaders negotiated an agreement to finalize the legislation to offer banking aid to Spain. National Australia Bank declined after it reported flat earnings expectations in the fourth quarter.

U.S. Indexes Lower; Chipotle Plunges 15%, Microsoft Revenues Fall

Arthi Gupta
19 Oct, 2012
New York City

U.S. indexes edged lower after Google, Microsoft, McDonald

EU Leaders Delay Spanish Banking Aid Legislation

Arthi Gupta
19 Oct, 2012
New York City

The European markets fell after leaders delayed the Spanish banking aid legislation implementation. German producer prices rose and the UK public sector net borrowing declined. ING agreed to sell its Asian units for

Europe Movers: Aggreko, Bunzl, Petrofac, Swiss Re, ING, Carrefour

Arthi Gupta
19 Oct, 2012
New York City

Petrofac reiterated its net profit growth target in 2012 of at least 15%. Bunzl third quarter group revenue rose 5%. Swiss Re announced management changes.

U.S. Stocks Fall, Google Drops 9% on Missed Expectations

Bikram Pandey
18 Oct, 2012
New York City

U.S. indexes declined after the rise in weekly jobless claims was offset by the improved leading indicators index and Philadelphia region manufacturing. Google dropped as much as 10% after it reported weak revenues and earnings in earnings filings that were released during the trading hours.

UK Retail Sales Rebound, Man Group Plunges 10%

Arthi Gupta
18 Oct, 2012
New York City

The UK indexes edged higher after retail sales rebounded in September. BP plans to sell its stake in TNK-BP. Kier Group completed the sale of its 50% stake in two private finance initiative projects for

U.S. Jobless Claims Soar; Morgan Stanley, Phillip Morris Intl Fall

Arthi Gupta
18 Oct, 2012
New York City

U.S. indexes traded sideways after mixed economic data. The jobless claims soared 46,000 to 388,000 and a leading economic index rose in September. Wesco agreed to acquire Canada-based EECOL for C$1.14 billion. Morgan Stanley slipped to quarterly loss.

Spain Raises

Arthi Gupta
18 Oct, 2012
New York City

The European indexes traded sideways ahead of the EU summit in Brussels. Spain raised

French Leading Index Rises 0.6%, Swedish Jobless Rate at 7.4%

Arthi Gupta
18 Oct, 2012
New York City

French leading index climbed and Italian deficit narrowed in August. Swiss watch exports declined in September.

Europe Movers: Nokia, Saab, Remy Cointreau, Nestle, Tele2

Arthi Gupta
18 Oct, 2012
New York City

Nokia loss widens, Akzo Nobel swung to loss and Saab net plunged to SEK 151 million in the third quarter. Nestle nine-month sales rose 11% to Sfr67.6 billion. Remy Cointreau first-half sales were

Stocks in New York Advance on Housing Data, Euro Gains

Bikram Pandey
17 Oct, 2012
New York City

U.S. market extended gains in a worldwide rally after housing starts jumped 15% to a 4-year high. European markets gained after Spain avoided a rating decline and Japan inches towards another economic stimulus package.