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Nikkei Drops 2.3% on Sentiment Reversal, Fast Retailing Plunges 6%

Nigel Thomas
04 Apr, 2012
New York City

Stocks in Tokyo dropped sharply and the Nikkei index declined below 10,000 for the first time in three weeks as investor sentiment reversed. Fast Retailing plunged 6% after the largest apparel retailer reported less than expected 5.1% same store sales increase.

Australia Records Second Monthly Trade Deficit, Dollar Falls

Marcus Jacob
04 Apr, 2012
New York City

Australian exports declined 2% in February to $24.4 billion and imports fell 4% to $24.9 billion as consumers and businesses held back purchases. The dollar declined to a two-month low on the prospect of a rate cut next month.

Fed Minutes Drag Sentiment, Indexes Near 4-Year Highs

Bikram Pandey
03 Apr, 2012
New York City

U.S. stocks declined, bond yield rose and the dollar gained after the latest Fed minutes of meeting showed no commitment for new monetary stimulus. Chrysler led March auto sales as small cars drive the industry sales rebound.

UK Construction at 21-Month High; Cairn Acquires Norway

Arthi Gupta
03 Apr, 2012
New York City

The UK indexes edged lower and construction sector activity rose to a 21-month high in March. Cairn Energy agreed to buy Norway-based Agora Oil & Gas AS for $450 million.

U.S. Movers: Conn

Mukesh Buch
03 Apr, 2012
New York City

Conn

U.S. Factory Orders Rise; Chrysler Sales Jump 34%

Arthi Gupta
03 Apr, 2012
New York City

U.S. indexes declined after factory orders rose less than estimated in February. Auto industry is likely to increase its annual sales target of 14 million in the year. Illumina urged shareholders to reject Roche offer. Dell agreed to acquire Clerity Solutions.

Nikkei Trends Lower as Yen Climbs to 3-week High

Nigel Thomas
03 Apr, 2012
New York City

Stocks in Tokyo edged lower and declined in six of the last ten sessions. The yen strengthened to a 3-week high as Japanese multinationals repatriate profits to rebuild domestic operations.

OECD Area Inflation Stable at 2.8%; Euro Zone PPI Eases

Arthi Gupta
03 Apr, 2012
New York City

OECD area inflation remained stable but euro area industrial producer prices rose in February. Spanish unemployment climbed in March.

European Markets Turn Lower; Molson Coors in

Arthi Gupta
03 Apr, 2012
New York City

The European indexes pared gains on concerns of global economic growth. Spain struggles to contain public debt as jobless rate increased in March. Molson Coors agreed to acquire StarBev for

Australian Rates on Hold; Weak Retail Sales Growth

Marcus Jacob
03 Apr, 2012
New York City

Australian stocks inched higher in a directionless trading after the central bank left its key lending rate on hold but held out a possible rate cut at its next meeting in a month. Retail sales in February grew at anemic rate highlighting weak consumer spending.

Global Markets and U.S. Indexes Extend Rally to Second Quarter

Bikram Pandey
02 Apr, 2012
New York City

U.S. stocks extended gains on the first day of the second quarter as the rally as the rally advances to the seventh month. Commodities advanced after manufacturing index gained but construction spending fell. European markets trimmed gains and stocks gained in new financial year in Japan and India.

UK Manufacturing at 10-Month High; GSK Raises Stake in Theravance

Arthi Gupta
02 Apr, 2012
New York City

The UK indexes soared after manufacturing activity and business sentiment rose in March and housing equity injections remained unchanged in the fourth quarter. GlaxoSmithKline increased its stake in U.S.-based Theravance.

Coty's $10 Billion Bid for Avon Has Wall Street's Support

Nichole Harper
02 Apr, 2012
New York City

Avon Products rejected $10 billion cash offer from a privately held Coty. The perfume seller said it does not want to proceed if Avon rejects its friendly overtures but pressured the company to open its books that may lead to a higher offer.

U.S. Manufacturing Improves, Construction Spending Drops

Arthi Gupta
02 Apr, 2012
New York City

U.S. indexes rebounded after manufacturing sector activity rose in March. U.S. construction spending fell in February. Avon rebuffed $10 billion Coty takeover offer. Dow Chemical to cut 900 jobs worldwide.

U.S. Movers: Avon, Glaxo, Global Payments, Groupon, Express Scripts

Mukesh Buch
02 Apr, 2012
New York City

Avon rejected $10 billion offer from Coty. Glaxo raised its stake in Theravance. Global Payments third quarter net soared 21% and lifted full year revenue guidance. Groupon revised fourth quarter guidance. Express Scripts completed acquisition of Medco Health for $29.1 billion.

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