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Market Update

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.

ECB Sets Deadline for Cyprus, Weak Read on German Manufacturing

Barry Randall
21 Mar, 2013
New York City

European markets declined for the third day in a row as the latest read on manufacturing in the region was weaker than expected. The euro eased against the dollar after the European Central Bank set a firm deadline for the acceptance of bailout for Cyprus.

U.S. Home Sales at 3-Year High, Stocks Fall on Cyprus Worries

Nichole Harper
21 Mar, 2013
New York City

Market indexes on Wall Street declined after a positive report on the housing market failed to overshadow growing uncertainties in the euro zone. Existing home sales and median home sale price increased in February.

U.S. Movers: Guess, Jabil Circuit, KB Home, Lululemon, Oracle, Cato

Mukesh Buch
21 Mar, 2013
New York City

Guess Inc said fourth quarter net plunged 11%. Jabil Circuit second quarter net dropped 9%. KB Home loss narrowed as revenue jumped 59%. Lululemon fourth quarter net climbed 49% and Oracle third quarter net was lower than expected.

Europe Movers: Brenntag, Havas, Lanxess, Rieter

Nigel Thomas
21 Mar, 2013
New York City

Brenntag reported annual net soared 21% to

Eighth Monthly Trade Deficit in Japan, Kuroda Faces Skeptics

Hiruki Nakamura
21 Mar, 2013
New York City

Stocks in Tokyo closed higher and Governor of Bank of Japan faced criticism of 2% inflation target at his first press conference. Japan recorded its eighth monthly trade deficit and the yen declined 0.6%.

Australian Political Uncertainty Saps Market Confidence

Marcus Jacob
21 Mar, 2013
New York City

Australian political uncertainty sapped market confidence and index managed to trim losses after Prime Minister Julia Gillard settled leadership challenge. Billabong plunged on speculation that the company may not receive firm takeover offers.