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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.

U.S. Movers: AEP Industries, Google, Heinz, McDonald, Travelers

Mukesh Buch
10 Jun, 2013
New York City

AEP Industries second quarter sales and profit declined. Google agreed to acquire Waze Inc. for $1.1 billion. Heinz completed acquisition offer of $23 billion. McDonald May sales increased. Travelers agreed to acquire The Dominion of Canada for about $1.1 billion in cash.

S&P Lifts U.S. Debt Outlook, Stocks Struggle

Nichole Harper
10 Jun, 2013
New York City

U.S. stocks traded sideways and resource sector stocks declined after China reported weak exports and imports data. U.S. debt rating outlook was revised by S&P.

Italian Economy Shrinks 0.6%, French Output Rebounds

Nigel Thomas
10 Jun, 2013
New York City

European markets traded sideways and Italian economic shrinkage was revised to 0.6%. French industrial output increased in April from March but the production was still lower than a year ago month. Resource stocks in Europe declined after China reported weak trade data.

Europe Earnings: AstraZeneca, G4S, M&S, Severn Trent, Vue, Xaar

Nigel Thomas
10 Jun, 2013
New York City

AstraZeneca agreed to acquire Pearl Therapeutics for $1.15 billion. Marks and Spencer plans to invest

Nikkei Rebounds 4.9%, Japan Revises March Quarter Growth to 4.1%

Hiruki Nakamura
10 Jun, 2013
New York City

Stocks in Tokyo rebounded as Bank of Japan starts a 2-day policy meeting and the Cabinet Office revised first quarter economic growth estimate to 4.1%. The yen weakened and the Nikkei soared 4.9%.

India Movers: GMR Infra, HOEC, L&T, NMDC, SAIL

Mukesh Buch
10 Jun, 2013
New York City

Dharamsi Morarji net swung to profit on the rising sales. GMR Infra wrote off nearly $80 million on two of its global assets. HOEC net swung to loss. L&T secured road project worth $1.3 billion.

U.S. Unemployment Rate Rises to 7.6%, Employers Add 175,000 Jobs

Nichole Harper
07 Jun, 2013
New York City

Market indexes in New York traded higher after May unemployment rate rose to 7.6% and U.S. employers added 175,000 net new jobs. The labor market data was one of the better economic reports in the last five weeks. Walmart announced $15 billion share repurchase program.

U.S. Movers: Cooper, Quiksilver, Thor, TiVo, Vail Resorts

Mukesh Buch
07 Jun, 2013
New York City

The Cooper Companies second quarter sales and profit climbed. Quiksilver net loss widened as revenue dropped. Thor Industries surged after third quarter sales and net jumped. TiVo settled its patent litigations. Vail Resorts third quarter net soared 23%.

Nikkei in Tokyo in Bear Phase, Pension Fund Shifts Token Stock Allocation

Hiruki Nakamura
07 Jun, 2013
New York City

Stocks in Tokyo extended losses and the Nikkei declined to a two-month low. Government Pension Fund said it will increase its Japanese equities allocation by 1% to 12% and cut its bond holdings to 60%. The yen jumped close to 95 against one dollar.

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