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Nikkei Trims Early Losses on China Data and Weaker Yen

Hiruki Nakamura
22 Aug, 2013
New York City

Stocks in Tokyo closed lower and in weak trading volume and investors focused on improving manufacturing data from China and ongoing concern about the early withdrawal of stimulus in the U.S.

Australian Indexes Fall in Heavy Volume, Fortescue Beats Expectations

Marcus Jacob
22 Aug, 2013
New York City

Trading volume on Australian exchanges recovered near the high for the year after earnings reports from Fortescue Metals, Origin Energy, Seven West Media, Tatts Group and Toll Holdings. Fortescue reported a sharp jump in sales and earnings.

India Movers: Bajaj, Jaiprakash, L&T, NMDC, Reliance Industries

Mukesh Buch
22 Aug, 2013
New York City

Bajaj Corp agreed to acquire Nomarks from Ozone Ayurvedics. Ind-Swift net loss narrowed. Jaiprakash Associates plans to sell a stake in its cement unit to UltraTech Cement. L&T secured orders valued Rs. 1,504 crore. Reliance finalizes terms for $1.75 billion foreign loans.

Fed Minutes Show Support for Tapering Timeline

Nichole Harper
21 Aug, 2013
New York City

U.S. indexes briefly rebounded after the release of Fed statement that showed a broad support for the stimulus tapering timeline. Indexes however dipped back near the low of the day. U.S. Treasury yields traded sideways. European market indexes fell. Rupee led the emerging market currency plunge.

Volatile Trading Persists in Tokyo, Tepco Plunges

Hiruki Nakamura
21 Aug, 2013
New York City

Stocks in Tokyo declined in lackluster trading and volume on stock exchange hovered near the yearly low. The yen weakened. Tepco, the owner and operator of crippled Fukushima Dai-Ichi nuclear power plant may seek overseas help to arrest contaminated water leak.

Australian Banks Gain as Resource Stocks Fall, Woodside Net Up 7.5%

Marcus Jacob
21 Aug, 2013
New York City

Australian market indexes rebounded in late afternoon to trim losses. Takeover Panel approved the rescue package for Billabong International Limited. Woodside Petroleum first-half revenues increased 7.5%. Charter Hall Retail REIT estimated flat operating earnings in the current year.

U.S. Movers: American Eagle, Intuit, Smucker, Lowe

Mukesh Buch
21 Aug, 2013
New York City

American Eagle net grew 3%. Intuit net swung to a loss but sales climbed. Smucker net rose 2%. Lowe

Europe Earnings: Carlsberg, Glanbia, Heineken, Hikma, Lloyds

Nigel Thomas
21 Aug, 2013
New York City

Carlsberg net plunged 35%. Glanbia profit slipped 5% but revenue climbed 12%. Heineken revenue grew 3% and net tumbled 17% to

India Movers: GAIL, Fortis Healthcare, IOB, Mysore Paper, Unitech

Mukesh Buch
21 Aug, 2013
New York City

Fortis Healthcare sold its remaining stake in Vietnam based hospital for $80 million. IOB plans to raise approx $500 million before end of the year. Mysore Paper loss widened.

Emerging Markets Extend Losses, Retailers' Earnings Lift U.S. Indexes

Nichole Harper
20 Aug, 2013
New York City

U.S. stocks extended gains after retailers reported better than expected earnings. Best Buy, Home Depot and TJX reported stronger than expected quarterly results. J.C. Penney reported larger loss and sales in the quarter fell 12%. Emerging and Asian markets extended losses.

Nikkei Plunges 2.6% on Emerging Markets Worries

Hiruki Nakamura
20 Aug, 2013
New York City

Volatile Nikkei index in Tokyo dropped 2.6% and Japan posted its thirteenth monthly trade deficit in a row as trade gap doubles from a year ago month in July to 1 trillion yen. Emerging markets linked stocks declined.

BHP Billiton Annual Net Drops 30%, Australian Dollar Eases

Marcus Jacob
20 Aug, 2013
New York City

Australian indexes closed lower and consumer staples, resource and banking stocks led the decliners. Reserve Bank of Australia left the door open for a rate cut at the next meeting. BHP Billiton said annual net declined 30% to $10.9 billion. NAB third-quarter net increased to $1.7 billion.

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