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Australia Estimates Resource Exports to Jump 14%, Stocks Rebound

Marcus Jacob
26 Jun, 2013
New York City

Australian stocks rebounded after China

India Movers: Airtel, Elder Pharma, Godrej, ING Vysya, Reliance Capital

Mukesh Buch
26 Jun, 2013
New York City

Elder Pharma plans to sell its domestic formulations business. ING Vysya to raise $150 million through a qualified institutional placement. Tech Mahindra completed merger with Satyam Computer. Bharti Airtel faces $110 million of penalty from telecom regulatory authority.

U.S. Movers: Barnes & Noble, Carnival, Ennis, Lennar, Sonic, Walgreen

Mukesh Buch
25 Jun, 2013
New York City

Barnes & Noble said quarterly sales declined and net loss widened. Carnival and Ennis quarterly net surged. Lennar sales climbed but net tumbled 70%. Walgreen net jumped 16% and sales rose 3.2%.

U.S. Durable Goods Orders Rise, Stocks Jump 1%

Nichole Harper
25 Jun, 2013
New York City

U.S. markets opened higher after durable goods orders increased at the fastest pace in six months and metropolitan home price rose more than expected in April. European markets jumped more than 1%.

Europe Earnings: Carpetright, Essar Energy, Peugeot, Telefonica, Vodafone

Nigel Thomas
25 Jun, 2013
New York City

Essar Energy net loss for the year narrowed to $162.8 million. Telefonica agreed to sell its Irish unit to Hutchison for

Banks and Automakers Drive European Markets Higher

Nigel Thomas
25 Jun, 2013
New York City

European markets rebounded a day after indexes extended losses and erased yearly gains. Business confidence index in France improved moderately in June. Automakers in Europe traded higher and banks led the gainers.

Nikkei and Yen Struggle; Air Asia and ANA to Dissolve Joint Venture

Hiruki Nakamura
25 Jun, 2013
New York City

Market indexes in Tokyo closed lower and the yen rebounded above 98. ANA Holdings and the largest discount carried Air Asia plan to dissolve their joint venture. Sumitomo Life Insurance may bid for life insurance unit of PT Bank Negara Indonesia.

India Movers: Cairn India, MMTC, Oil India, Pipavav Defence, Tata Steel

Mukesh Buch
25 Jun, 2013
New York City

Cairn India plans to invest $3 billion in its Rajasthan oilfields. Oil India and ONGC Videsh agree to acquire stake in Mozambique oil field from Videocon for $2.48 billion. Tata Steel is looking to raise $1.2 billion through stake sales in group companies.

Australian Indexes Erase Yearly Gains, ANZ Faces Unfair Fees Suit

Marcus Jacob
25 Jun, 2013
New York City

Australian market indexes closed at its low for the year and erased most of the yearly gain as investors shy away from stocks in resource and retail sectors. A consumer advocate group in New Zealand filed a legal challenge for unfair fees charged by ANZ.

European Markets Extend 5-Day Losses, Vodafone to Buy Kabel Deutschland

Nigel Thomas
24 Jun, 2013
New York City

European markets extended losses and erased gains in the year so far and the euro weakened as the dollar advanced. Vodafone agreed to offer 7.7 billion euros to Germany

Wall Street Indexes Drop 1.6%, Vanguard Health and Tenet in $1.8 Billion Deal

Nichole Harper
24 Jun, 2013
New York City

U.S. stocks opened lower as global market worried weighed on market sentiment. China began its monetary tightening that dragged Shanghai index down 5% and the U.S. Fed is expected to taper its monetary stimulus. Copper dropped to a 21-month low.

India Movers: Airtel, GMR, HCL, Jaiprakash Power, Gitanjali Gems

Mukesh Buch
24 Jun, 2013
New York City

GMR Infrastructure seeks damages of $1.4 billion from the Maldives Airports Company. HCL and Vestas Wind Systems entered into a long-term collaboration. Jaiprakash Power halted power generation at its Uttarakhand. Indian jewelers plunge after local gold price declined to a 2-year low.

Nikkei Drops 1.3%, Ruling Coalition Wins Tokyo Election

Hiruki Nakamura
24 Jun, 2013
New York City

The Nikkei in Tokyo turned lower in afternoon trading after stocks in Shanghai plunged more than 5% as cash shortage among banks persisted. Japanese ruling coalition won in local election in Tokyo lifting hopes for its majority in the upper house election in a month.

Weak Asian Markets Drag Australian Stocks Lower, China Worries Loom

Marcus Jacob
24 Jun, 2013
New York City

Australian stocks closed lower after iron ore prices declined and the dollar dropped to the new low in the year. Leighton Holdings won an extension of contract from Fortescue Metals by $1.3 billion to $2.8 billion. Rio Tinto decided to keep its diamond business.

U.S. Movers: Archer-Daniels, CarMax, Dell, Darden Restaurants, Oracle

Mukesh Buch
21 Jun, 2013
New York City

Archer-Daniels confirmed that it is in talks to sell its cocoa business. CarMax first quarter sales and net climbed. Michael Dell defended leveraged buyout of the computer company he founded. Darden Restaurants sales surged 59% but profit plunged 67%. Oracle net climbed 10% to $3.9 billion.

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