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U.S. Markets Decline Ahead of Earnings

Nichole Harper
08 Apr, 2013
New York City

U.S. markets extended losses on Monday as investors await the start of the earnings season. European markets closed higher and the Nikkei in Tokyo surged for the fourth day as the yen declined to the level last seen in 2009.

U.S. Movers: AZZ, GE, Merz, Oriola-KD, Ericsson

Mukesh Buch
08 Apr, 2013
New York City

AZZ fourth quarter net surged 14%. GE agreed to buy Lufkin Industries Inc. for $3.3 billion. Merz withdraw to acquire Obagi Medical. Oriola-KD agreed to buy Sweden based Medstop Group for $229 million. Ericsson agreed to purchase media-room business from Microsoft.

Europe Movers: Cairn, Lundin, Mecom, Pirelli, Technip, Virgin Media

Nigel Thomas
08 Apr, 2013
New York City

Lundin discovered crude in the North Sea. Mecom reported advertising revenues in Dutch operations declined 28%. Pirelli delayed its business forecast. Technip secured an engineering contract for

Supercharged Nikkei Soars 2.8%, Yen Trades Above 99

Hiruki Nakamura
08 Apr, 2013
New York City

Stocks in Tokyo advanced for the fourth day in a row to a 4-year high and the yen dropped near 100 against one dollar. Real estate, banks and exporters led the gainers. Of the 225 stocks in the Nikkei index, 218 closed higher.

Australian Stocks Snapped 4-Day Decline, Construction Activities Contract

Marcus Jacob
08 Apr, 2013
New York City

Australian stocks rebounded after declining for four days in a row and construction industry index indicated contraction in March, 34th monthly decline in a row. Australian dollar fell.

India Movers: Aditya Birla Nuvo, BHEL, Idea, MMTC, TVS, RCom

Mukesh Buch
08 Apr, 2013
New York City

Aditya Birla Nuvo divested its carbon black business. BHEL secured total orders worth more than $5 billion in fiscal 2013. The telecom regulator fined Idea for $56 million. RCom plan to sell 80% stake in Reliance Globalcom.

U.S. Labor Participation Rate at 34-Year Low on Weak Job Creation in March

Nichole Harper
05 Apr, 2013
New York City

U.S. indexes declined after employers added less than expected net new jobs in March. Unemployment rate declined to 7.6% and labor participation rate plunged to 34-year low of 63.3%. Trade deficit in February declined 3.4% on the rising exports and flat imports.

U.S. Movers: Acura, Franklin Covey, GenCorp, NII, WD-40

Mukesh Buch
05 Apr, 2013
New York City

Acura Pharma was awarded a patent by the U.S. Patent Office. Franklin Covey second quarter net surged 37% and GenCorp second quarter net swung to loss. NII agreed to sell its Peruvian operations for $400 million. WD-40 net in the second quarter slipped.

Nikkei in 3-Day Advance of 6.9%, Worrisome Slide in Yen Continues

Hiruki Nakamura
05 Apr, 2013
New York City

Stocks in Tokyo extended gains for the third day in a row and the benchmark Nikkei soared 6.9%, the most in two years. Real estate and banks led the gainers. The yen, third worst performing currency in the world, extended losses to 18% in the year so far.

Europe Movers: Air France, EasyJet, IAG, HMV

Nigel Thomas
05 Apr, 2013
New York City

European airlines Air France, IAG, EasyJet declined after fears rising bird flu outbreak in China. Hilco agreed to acquire HMV in

Australian Indexes and Dollar Ease on Weak Commodities

Marcus Jacob
05 Apr, 2013
New York City

Australian stocks traded lower in weak trading sentiment in Asia. Banks led the decliners and resource stocks closed mixed. Base metals traded higher but precious metals declined along with crude oil futures on the move in the U.S. dollar.

India Movers: GMR, Maruti, Power Grid Corp, L&T, Reliance, Voltas

Mukesh Buch
05 Apr, 2013
New York City

GMR bid for airport development project in Philippines. Maruti surged on weaker yen. Power Grid board approved investment of $700 million. Shriram City hired banks for share sale of up to $182 million.

U.S. Movers: International Speedway, Mitcham, RPM Intl, Greenbrier

Mukesh Buch
04 Apr, 2013
New York City

International Speedway second quarter net declined 21%. Ocwen Financial completed the purchase of Liberty Home Equity Solutions. Provident New York plans to acquire Sterling Bancorp for $344 million in stock. RPM Intl second quarter net swung to loss.

ECB and BoE Hold Rates

Nigel Thomas
04 Apr, 2013
New York City

European Central Bank held its reference rate at 0.75% and Bank of England kept its benchmark rate at 0.5% and did not expand its bond buying program.

U.S. Markets Rebound on Japan Monetary Easing, Weekly Claims Rise

Nichole Harper
04 Apr, 2013
New York City

U.S. stocks rebounded after Bank of Japan embarked on aggressive and bold monetary easing with a goal to double monetary base and inflation of 2% in the next two years. U.S. weekly jobless claims increased more than expected.

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