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Nikkei's 6.4% Plunge Sparks Global Sell-off

Hiruki Nakamura
13 Jun, 2013
New York City

The Nikkei index in Tokyo plunged 6.4% as turbulent market extended volatility in the third week. Markets in Japan are in a bear market territory for the second time in as many weeks and the yen rises as foreign investors sell stocks and unwind the currency hedge.

Positive Australian Jobs Report Failed to Lift Market Sentiment

Marcus Jacob
13 Jun, 2013
New York City

Australian market indexes tested the 2013 lows and the Australian dollar traded weak. On the domestic front, employers added 1,100 jobs in May, sharply higher than 10,000 job cuts expected by many economists.

India Movers: Apollo Tyres, Gujarat Gas, MMTC, Sun Pharma, Tata Motors

Mukesh Buch
13 Jun, 2013
New York City

Apollo Tyres declined on company''s debt after deal to buy U.S. based Cooper Tire. BG Group Plc completed its stake sale in Gujarat Gas. MMTC offering demand exceeded offering size by 33%. Tata Motors dropped ahead of June auto sales data.

U.S. Movers: Cooper Tire, Agilysys, Pfizer, Ulta Salon

Mukesh Buch
12 Jun, 2013
New York City

Cooper Tire agreed to be acquired by India based Apollo Tyres for $2.5 billion. Agilysys sales surged and net swung to profit. Oxford Industries net plunged 24%. Pfizer and Takeda get $2.15 billion for settlement of patent infringement. Ulta Salon soared after sales and net climbed.

U.S. and World Markets Churn on Fed and ECB Fears

Nichole Harper
12 Jun, 2013
New York City

U.S. stocks churn as investors attempt to decipher the next move from the Fed and European Central Bank. The latest market surge has been supported by the accommodative policies of central banks and investors are increasingly focused on the impact of early stimulus withdrawal.

Europe Earnings: Inditex, Sainsbury, Kabel, Severn Trent, Volkswagen

Nigel Thomas
12 Jun, 2013
New York City

Inditex first quarter sales jumped 5% and net rose 2% to

Corporate Japan Skeptical of Abenomics, Machinery Orders Fall 8.8%

Hiruki Nakamura
12 Jun, 2013
New York City

Market indexes in Japan extended losses and the yen gained nearly 3%. Machinery orders declined in April as corporate Japan stays on the sideline and look for the Abenomics to deliver tangible results.

Australian Indexes Extend Losses, Confidence Rebounds after a 2-Month Fall

Marcus Jacob
12 Jun, 2013
New York City

Australian markets closed down and consumer confidence index in June increased after falling for two months. Business and personal finance commitment increased 3.2% in April, which is expected to boost economic growth in the second quarter.

India Movers: Agro Tech, Adani, Aurobindo Pharma, MMTC, Titan

Mukesh Buch
12 Jun, 2013
New York City

Agro Tech management withdrew its proposed buyback offer. Adani Ports allotted 66.7 million shares at an issue price of Rs. 150. LIC lowered its stake in Aurobindo Pharma. Titan plunged 13% after regulatory curb on gold import is expected to hurt margins.

Central Bank Support Withdrawal Worries U.S. and Global Markets

Nichole Harper
11 Jun, 2013
New York City

U.S. stocks extended losses in Europe and Japan on the rising market anxieties linked to central bank actions. On Wall Street stocks traded sideways on the speculation that Fed may withdraw stimulus earlier than expected. Bank and financial services led the decliners in New York.

U.S. Movers: Annie

Mukesh Buch
11 Jun, 2013
New York City

Annie

Europe Earnings: Britvic, Dialight, Ocado, Prada, Remy Cointreau

Nigel Thomas
11 Jun, 2013
New York City

Britvic wins merger approval with A.G. Barr. Dialight first-half revenue soared 50%. Ocado Group jumped on market rumors of a tie-up with Marks & Spencer. Prada first quarter revenue and profit climbed 14%. Remy profit for the year soared 18%.

Nikkei Drops 1.5% After BoJ Left Bond Policy Intact

Hiruki Nakamura
11 Jun, 2013
New York City

Bank of Japan left its policy actions unchanged after a 2-day meeting and bond yields rose and the yen declined. The central bank did not extend the recent bank loans maturity to two years from one year as expected by traders. Softbank lifted its offer for Sprint Nextel by 7.5%.

Australian Mining Industry Capex at a 10-Year Low

Marcus Jacob
11 Jun, 2013
New York City

Australian stocks closed higher but the weakness in resource sector dragged the market sentiment. Mining industry capital expenditure index hit a new low in a decade in April, according to a private survey. Virtus Health soared on first day of trading.

India Movers: Cinemax, Elder Pharma, ONGC, Prime Focus, Tech Mahindra

Mukesh Buch
11 Jun, 2013
New York City

Cinemax approved the proposed merger with PVR. Elder Pharma surged after a stake sale. Regulators initiate an inquiry for coal block corruption against Jindal Steel & Power. ONGC withdrew its statement that it acuired Mozambique gas field from Videocon.

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