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Weekly Drop of 3.3% in Nikkei on Yen Strength

Hiruki Nakamura
25 Oct, 2013
New York City

Nikkei in Tokyo eased and closed down 3.3% in the week. The yen gained for the second week in a row. Softbank Corp dropped 5% after Alibaba shelved its plan to list its stock. JFE Holdings lowered earnings outlook and Posco lowered its annual steel sales estimate.

Third Weekly Rise in Australian Indexes; Rio, BHP Retrench from Ventures

Marcus Jacob
25 Oct, 2013
New York City

Australian indexes advanced for the third week in a row and resource and banking stocks led the advance. BHP and Rio Tinto are in talks to sell stakes in international joint ventures as both miners retrench from international expansion.

India Movers: Adani Power, GAIL, Essar, ICICI Bank, IOB, Idea, TVS

Mukesh Buch
25 Oct, 2013
New York City

Adani Power net loss widened. Essar shipping net loss narrowed. GAIL (India) net fell 7%. ICICI Bank net soared 20% and IOB net declined 16%. Idea profit soared 13%. TVS Motor net surged 97%. Tata Sponge net plunged 29%.

U.S. Movers: 3M, Altria, Celgene, Colgate, Ford, McKessonm, Raytheon

Mukesh Buch
24 Oct, 2013
New York City

3M net jumped 6% as sales climbed 7%. Altria net surged 112%. Celgene net plunged 12%. Colgate net soared 20%. Ford net declined 1% but sales jumped 12%. McKesson agreed to acquire Germany-based Celesio for $8.3 billion.

Europe Earnings: Credit Suisse, Ericsson Profit Jump; Unilever Sales Drop

Nigel Thomas
24 Oct, 2013
New York City

Credit Suisse profit surged 79%. Celesio soared after takeover offer of

Earnings Lift Wall Street Indexes, U.S. Trade Deficit Falls 0.4%

Nichole Harper
24 Oct, 2013
New York City

U.S. stocks advanced after a string of positive earnings from large companies. The dollar fell to a 23-month low against the euro. Weekly jobless claims fell. Trade deficit in August eased 0.4% on flat exports and imports but imports from China hit a new record.

Nikkei in Tokyo Gains, Canon Cuts Annual Outlook on Falling Camera Sales

Hiruki Nakamura
24 Oct, 2013
New York City

Market indexes in Tokyo advanced and the yen edged up a fraction. Canon Inc declined after it lowered annual earnings outlook and sales in the camera division are likely to fall more than expected. Nissan Motor issued a worldwide recall of sports utility vehicles.

Australian Banks Lead Market Advance, Record Close in CBA

Marcus Jacob
24 Oct, 2013
New York City

Advances in banks in Australian trading lifted indexes. Investors have been rotating out of mining sector into banks ahead of earnings next week. Wesfarmers was in focus after Coles supermarket chains said September quarter sales increased 4%.

India Movers: Ambuja Cements, Emami, IHFL, Jet Airways, Kotak Mahindra

Mukesh Buch
24 Oct, 2013
New York City

Ambuja Cements net and sales declined. Emami net soared 35% and sales jumped 14%. IHFL advanced after profit and revenue surged. IPCA net rose. Jet Airways net loss widened as passenger yields declined 11%. Kotak Mahindra profit climbed. Raymond net jumped.

U.S. Movers: Bristol-Myers, Boeing, Caterpillar, Corning, Eli Lilly, WellPoint

Mukesh Buch
23 Oct, 2013
New York City

Bristol-Myers net swung to profit after revenue climbed. Boeing net soared 12% as revenue jumped 11%. Caterpillar net plummeted 44% after revenue tumbled 18%. Eli Lilly net dropped 9% but revenue jumped 6%. WellPoint fell 5% but sales surged 17%.

U.S. Indexes Back Off from 4-Year Highs on Earnings Worries

Nichole Harper
23 Oct, 2013
New York City

Stocks on Wall Street took a breather after market indexes flirted with four-year highs. In the last thirteen years, U.S. market indexes have advanced more than 20% only two times. S&P 500 index in the year so far has jumped 22% following 14% rise in 2012.

Nikkei Plunges 2% after Yen Advances 0.8%

Hiruki Nakamura
23 Oct, 2013
New York City

Market indexes in Tokyo plunged 2% as the yen gained 0.8% against the dollar. Rising bad loan worries in China also dragged market sentiment in Tokyo and Asian trading. Nidec Corp first-half sales rose 22%. Japan Exchange first-half revenues rose 67%.

Europe Earnings: Glaxo Net Drops 12%, Orange Revenues Fall 4%

Nigel Thomas
23 Oct, 2013
New York City

GlaxoSmithKline profit plunged 12% to

Australian Indexes Fall on Asian Market Weakness

Marcus Jacob
23 Oct, 2013
New York City

Australian markets traded lower after the yen strengthened and market indexes in Japan, China and India declined. Super Retail Group plans to accelerate new store opening next year. Treasury Wine Estates reaffirmed its annual outlook. Ruralco issued cautious profit views.

India Movers: ACC, Cairn India, Gujarat Pipavav, Hero, L&T Finance, Wipro

Mukesh Buch
23 Oct, 2013
New York City

ACC net plunged 51% and Cairn India net soared 46%. Gujarat Pipavav profit surged above four-fold and Hero MotoCorp climbed 9%. Hindustan Zinc net rose 7% after sales surged 25%. Eros profit surged but revenue slid. L&T Finance net jumped and Wipro net climbed 19%.

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