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Market Update

Europe Movers: Ahold Sells 60% Stake in ICA to Hakon, Novo Nordisk Drops 12%

Barry Randall
11 Feb, 2013
New York City

Royal Ahold agreed to sell 60% stake in the Swedish retailer ICA for $3.1 billion as the Dutch retailer shifts focus to domestic operations. Novo Nordisk plunged 12% after the U.S. drug regulator demanded more tests that could delay the insulin drug launch for years. Sanofi gained 4%.

U.S. Movers: Boardwalk, CNA Financial, Loews, Radian Group

Mukesh Buch
11 Feb, 2013
New York City

Boardwalk Pipeline fourth quarter net soared 26% and CNA Financial swung to a quarterly loss. Loews fourth quarter resulted in a net loss. Onex sells 50% stake in RSI Home Products for $323 million. Radian Group net loss widened.

Euro Ministers Discuss Cyprus, Spanish and Italian Yields Rise

Nigel Thomas
11 Feb, 2013
New York City

European markets traded higher as finance ministers gather to discuss the euro and the aide to Cyprus. G20 finance ministers are scheduled to meet in Moscow this weekend. Bond yields in Spain and Italy rose as political tensions mounted.

Australian Indexes Rise, Third Monthly Decline in Home Loans

Marcus Jacob
11 Feb, 2013
New York City

Australian indexes closed higher as most markets across Asia were closed to celebrate Lunar New Year. Home loans in December declined 1.5% from November, third monthly fall in a row. The Australian dollar eased to below $1.03.

India Movers: Reliance Signs $1 Billion Contract with Ericsson

Mukesh Buch
11 Feb, 2013
New York City

Emami net jumped 22% and GMR Infrastructure loss widened. Gujarat Petronet slipped 5.7% and GIPCL net surged more than three-fold. Jaypee Infratech net plunged 60%. RCom signed network contract with Ericsson for $1 billion. Sun Pharm withdraws the merger agreement.

World Markets Rise on Earnings and European Agreement

Bikram Pandey
08 Feb, 2013
New York City

Stocks in New York traded higher and the S&P 500 index inched to a new high in the year after a string of earnings report and improving economic data from China and European lawmakers agreed to trim seven year budget. Oil gained.

U.S. Trade Gap Narrows 21%, Stocks Advance

Nichole Harper
08 Feb, 2013
New York City

U.S. stocks traded higher after trade deficit narrowed in December. Markets in Asia and Europe were higher after China reported a surge in exports to the U.S. and Europe and domestic demand improved. Oil rose to a high for the year.

U.S. Movers: AOL, Buckeye, CBOE, Entergy, LinkedIn, Moody

Mukesh Buch
08 Feb, 2013
New York City

AOL fourth quarter net surged 57% and Buckeye net plunged 42%. CBOE fourth quarter net climbed 25% and Entergy net soared 92%. LinkedIn net vaulted 67% and the site crossed 200 million members. Moody

Chinese International Trade Soar in January

Arjun Dave
08 Feb, 2013
New York City

China reported a surge in exports and imports as demand in domestic and international markets rebounded. Adjusting for holiday calendar, exports rose more than 12% and imports gained more than 3%. Exports to the U.S. increased at the fastest pace in 10 months and to the EU in a year.

Europe Movers: Credit Agricole, 888 Holdings, Software AG, Telecom Italia

Barry Randall
08 Feb, 2013
New York City

Online gambling stocks in London traded higher after New Jersey Governor said he would online wagering on games operated by Atlantic City casinos. Software AG increased on a stock buyback plan. Telecom Italia reported 11.7 billion euros in operating earnings.

European Markets Higher, Leaders Agree to Trim EU Budget

Barry Randall
08 Feb, 2013
New York City

European markets edged up after European Union leaders agreed to trim the budget spending in the next seven-year plan. Oil gained after China reported a surge in exports in January indicating recovering demand in domestic and world markets.

Tokyo Rally Halted, Sony Plunges 10%

Hiruki Nakamura
08 Feb, 2013
New York City

Stocks in Tokyo halted a 12-week rally and closed down on Friday. Nikkei declined 0.3% in the week after the yen pause its recent slide. Sony plunged 10% after investors take profit after the stock ran up 42% in January.

Australian Indexes at 22-Month High, RBA Lowers Growth Estimate

Marcus Jacob
08 Feb, 2013
New York City

Australian stocks closed at a 22-month high after investors reacted to positive international trade data from China. Reserve Bank of Australia lowered its economic growth rate for 2013 and estimated inflation to be within its target range.

India Movers: ACC, Sun Pharma Net Decline, MRF, M&M Net Jump

Mukesh Buch
08 Feb, 2013
New York City

ACC third quarter net declined 18.6% and Balaji Telefilms net soared more than three-fold. Cadila Health net plunged 31% and M&M net jumped 30%. MRF net surged 60% and McNally won order of Rs 171.84 crore. Sun Pharm net tumbled 80%.

Markets in New York and Europe Consolidate on Earnings and Elevated Euro

Bikram Pandey
07 Feb, 2013
New York City

U.S. market indexes declined after cautious comments from European policymakers and weak earnings. Oil traded near elevated prices and market indexes recovered half the 1% decline. Retailers reported higher same store sales in January.