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Market Update

European Markets Rebound; Accor, L'Oreal and Novartis in Focus

Nigel Thomas
17 Jul, 2013
New York City

European markets rebounded from morning losses and traded higher after a string of earnings reports from L

India Movers: DCB, HDIL, HDFC Bank, L&T, RCapital

Mukesh Buch
17 Jul, 2013
New York City

Development Credit Bank net surged. HDFC Bank net and revenue in the first quarter surged. L&T won new construction order worth $350 million in Oman.

Nikkei Extends Gains to Third Day, Mitsubishi Motors Soars 11%

Hiruki Nakamura
17 Jul, 2013
New York City

Stocks in Tokyo closed higher for the third day in a row and investors looked ahead to elections on Sunday. Ruling coalition is expected to win a majority in the upper house of the parliament. Mitsubishi Motors soared 11%.

BHP Billiton Iron Ore Production Jumps 7%, Oil Output Rises 6%

Marcus Jacob
17 Jul, 2013
New York City

Australian stocks closed lower after trading sideways and investors looked overseas for future direction. BHP Billiton reported record production in five commodities and petroleum production increased less than expected 6% in the year to June. Billabong soared 34% on a debt purchase agreement.

U.S. Indexes Trend Lower; Goldman Sachs, Coca-Cola Earnings in Focus

Nichole Harper
16 Jul, 2013
New York City

U.S. indexes traded lower after consumer price index increased 0.5% in June and industrial production rose 0.3%. Earnings at Goldman Sachs were ahead of expectations but Coca-Cola earnings and revenues lagged expectations.

U.S. Movers: Baidu, Citigroup, Coca-Cola, Goldman Sachs, J&J, Mosaic

Mukesh Buch
16 Jul, 2013
New York City

Brown & Brown second quarter net soared 22% as revenue climbed 12%. Baidu plans to acquire 91 Wireless for $1.9 billion. Citigroup net jumped 11% but Charles Schwab net dropped 7%. Coca-Cola net rose 4% to $2.68 billion. Goldman Sachs net doubled and J&J net soared 171%.

Europe Earnings: Glaxo, Premier Foods, Rio Tinto, Swedbank, Telecom Italia

Nigel Thomas
16 Jul, 2013
New York City

Chinese police lists charges against local unit of Glaxo. Rio Tinto second quarter production climbed and reaffirmed its full-year guidance. Swedbank net income slumped to 1.59 billion kronor. Telecom Italia delayed its plan to spin-off its fixed-line.

Weaker Yen Lifts Nikkei in Tokyo to 7-week High

Hiruki Nakamura
16 Jul, 2013
New York City

Stocks in Tokyo gained after the yen declined and exporters led the advance. Investors shifted focus to quarterly profit and looked for profit improvement linked to weaker yen. Best Denki soared 14% on four-fold increase in earnings.

Cautious Comments from RBA in Australia, Rio Tinto Iron Production Up 7%

Marcus Jacob
16 Jul, 2013
New York City

Australian indexes closed flat after cautious statement from the central bank held out optimism for a rate cut in the future. Rio Tinto said second quarter iron ore production increased 7% and it is on track to cut exploration spending by $750 million.

India Movers: Ashok Leyland, Advanta, CMC, Exide, TTK Prestige

Mukesh Buch
16 Jul, 2013
New York City

Ashok Leyland net swung to loss as sales plunged 22%. Advanta net swung to a profit as sales surged. CMC first quarter net declined 13%. Reliance Infra profit grew 2.4%. TTK Prestige net declined 16%.

European Markets Extend Gains, Hungarian Construction Soars 12%

Nigel Thomas
15 Jul, 2013
New York City

Market indexes in Europe extended gains of last week but trimmed early advance. Resource and commodities linked companies gained after China

China's Growth Slows to 7.5%, Industrial Production Slowest Since 2009

Devan Biswas
15 Jul, 2013
New York City

Economic growth in the second quarter to June slowed to 7.5% after government cracked down on construction activities and also exports slowed. Industrial production slowed to 8.9%, slowest since 2009.

U.S. Retail Sales Rise 0.4%, Stocks Drift Lower

Nichole Harper
15 Jul, 2013
New York City

U.S. stocks drifted lower after retail sales were lower than expected and China reported economic expansion of 7.5%. Industrial production in China increased 8.9%, slowest since 2009. Metal prices rose and energy prices traded higher.

Australian Auto Sales Rise 4%, Stocks Higher on China GDP Growth of 7.5%

Marcus Jacob
15 Jul, 2013
New York City

Australian stocks closed higher and auto sales in June rose to a record high and China met economic growth expectations laid out by the government. RHG Limited accepted a revised offer from Resimac. Precious and base metals prices rose.

U.S. Consumer Confidence Index Falls; JPMorgan and Wells Fargo in Focus

Nichole Harper
12 Jul, 2013
New York City

Stocks in New York traded sideways after JPMorgan Chase reported higher than expected earnings and Wells Fargo earnings soared 19%. Consumer confidence index declined unexpectedly in July. Gold and oil advanced.