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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.

Jittery Stocks on Wall Street Extend Losses on Third Day

Nichole Harper
21 Jun, 2013
New York City

U.S. market indexes are set to decline for the third day in a row after the Fed laid out its stimulus exit plan that has been in place for more than four years. The Fed

Europe Earnings: BC Partners, Deutsche Annington, Flybe, Rosneft

Nigel Thomas
21 Jun, 2013
New York City

BC Partners agreed to buy Springer Science & Business Media for

Stocks in Japan Turn Corner, Weekly Rise of 4.3% in Nikkei

Hiruki Nakamura
21 Jun, 2013
New York City

Stocks in Japan turned corner as traders and analysts forecasted the end of market correction. The Nikkei index has held the ground near 13,000 after four weeks of selling and surged 4.3% this week. The yen resumed its slide.

Australian Indexes Extend Losses, BHP Sells Iron Ore Mine Stake

Marcus Jacob
21 Jun, 2013
New York City

Australian market indexes extended losses in the week to 1% and the dollar dropped to the low of the year. Resource sector stocks led the decliners. BHP said it sold 15% stake in its iron ore mines in Western Australia to two Japanese conglomerates.

India Movers: Airtel, Cipla, Essar, HUL, Reliance Capital, S Mobility

Mukesh Buch
21 Jun, 2013
New York City

Bharti Airtel market share held at 28.4% in May. Cipla received approval to acquire its South African unit for $512 million. Essar Steel raised $1 billion to repay the debt. Hindustan Lever launched its open offer to increase stake to 75%. Reliance Capital suspends gold sale.

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