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India Movers: Adani Power, Airtel, Bajaj Finance, IOB, L&T, MTNL

Mukesh Buch
21 Mar, 2013
New York City

Adani Power plans to issue shares to promoters on preferential basis. Indian Overseas Bank approved additional stake sales to central government. L&T won new orders valued Rs 2,080 crore.

Cyprus and Creditors at Odds as Europe Seeks to Contain Damage

Barry Randall
20 Mar, 2013
New York City

Cyprus Parliament struck down the proposal to tax depositors and international creditors looked for alternatives to stem the growing debt crisis. Cyprus ministers looked to Russia for emergency help and European regulators debated the fate of bailout as the banking system in Cyprus remains closed.

U.S. Markets Advance, Tensions in Cypruse on the Rise

Nichole Harper
20 Mar, 2013
New York City

Stocks on Wall Street opened higher and struggled to retain the small gains after the two hours of trading. The dollar advanced on the rising tensions between international lenders and Cyprus after lawmakers rejected a tax on bank depositors.

U.S. Movers: Actuant, Adobe, FedEx, General Mills, Lennar, Williams-Sonoma

Mukesh Buch
20 Mar, 2013
New York City

Actuant second quarter net plunged 12% and Adobe first quarter net tumbled 65%. FedEx third quarter net declined 31% to $361 million and General Mills net rose 2%. Williams-Sonoma fourth quarter net climbed 10%.

Europe Movers: Asos, Deutsche Bank, Metro, Rheinmetall, Smiths Group

Nigel Thomas
20 Mar, 2013
New York City

Asos said second quarter sales soared 37% to

Weak Commodities Drag Australian Indexes Lower

Marcus Jacob
20 Mar, 2013
New York City

Australian market indexes traded lower on the growing uncertainties in the euro zone and rising worries of weak demand growth for commodities in China. Resource sector stocks fell sharply on the worries that the iron ore prices may dip to $120 a ton in the next few weeks.

India Movers: 3M India, Manappuram Finance, ONGC, SAIL, SBI, V Mart

Mukesh Buch
20 Mar, 2013
New York City

3M India offer for sell of equity shares. Manappuram Finance said fourth quarter profits may drop. ONGC sign agreement to set up oil terminal costing to $750 million. SBI allots 12.99 million shares to the government. Government approved 10.8% stake sale of SAIL on March 22.

Stocks on Wall Street Weaken on Cyprus Uncertainties

Nichole Harper
19 Mar, 2013
New York City

Stocks in New York accelerated the decline in early afternoon after lawmakers in Cyprus are likely to vote down a proposal to tax depositors as a part of international bailout. Home construction activities increased to a five-year high.

U.S. Movers: Affymax, DSW, FactSet, Lululemon, Walgreen

Mukesh Buch
19 Mar, 2013
New York City

Affymax plunged as the company seeks a buyer or may have file bankruptcy protection. DSW fourth quarter net jumped 40%. FactSet net advanced 5%. Lululemon dropped on quality problems. Walgreen agree to acquire a stake in AmerisourceBergen as a part of sales agreement.

Nikkei Rebounds 2%, Kuroda to Assume BoJ Governor's Office Tomorrow

Hiruki Nakamura
19 Mar, 2013
New York City

Stocks and market indexes in Tokyo rebounded after investors estimated that the risk from controversial depositor-tax in Cyprus spreading to the rest of the euro zone is limited. However, investors fear that the tax sets a dangerous precedent.

Europe Movers: BBC Worldwide, Sainsbury, Ryanair, William Hill, Zigg

Nigel Thomas
19 Mar, 2013
New York City

BBC Worldwide agreed to sell Lonely Planet to NC2 Media for

Australian Stocks and Dollar Ease

Marcus Jacob
19 Mar, 2013
New York City

Australian stocks rebounded in the early hours but failed to stay in the positive zone after comments from the Reserve Bank weighed on the market sentiment.

India Movers: Asian Paints, AGC Networks, GMR, Infosys, ONGC

Mukesh Buch
19 Mar, 2013
New York City

Asian Paints acquired 51% stake in Sleek Group. AGC Networks acquired part of business of the U.S. based Transcend United Technologies. GMR is exploring to bid for $400 million airport upgrade project in Philippines. ONGC may acquire 20% stake in the Mozambique gas field.

Cyprus Deposit-Tax Worries Spark Fears of Bank Run in Southern Europe

Devan Biswas
18 Mar, 2013
New York City

Cyprus bank depositors are facing a

U.S. Movers: Cerner, Cynosure, Cumulus Media, j2 Global

Mukesh Buch
18 Mar, 2013
New York City

Ameresco fourth quarter net climbed 40%. Cerner agreed to acquire automation solution provider Labotix Automation. Cynosure agreed to buy Palomar Medical for $294 million in cash.

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