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Market Update

BoJ Rejected Asset Purchase Program Expansion, Nikkei in 6-Day Rally

Hiruki Nakamura
07 Mar, 2013
New York City

Bank of Japan left its bond buying program unchanged at the last meeting chaired by Governor Shirakawa. The yen eased and market indexes extended gains for the sixth day in a row.

Australian Trade Deficit Widens, 33rd Monthly Decline in Construction

Marcus Jacob
07 Mar, 2013
New York City

Australian indexes rested after a solid surge in last four weeks. Trade deficit widened in January on lower shipments of coal and iron ore largely related to weather conditions. Construction activities declined for the 33rd month in a row in February.

NYSE Sells 4.8% Stake in MCX; Tata, AirAsia in Airline Dea

Mukesh Buch
07 Mar, 2013
New York City

Bank of India raised $170 million from the central government. DLF board approved stock offering. Gitanjali plans to raise $250 million. NYSE Euronext sold 4.79% stake in MCX. Tata Sons and AirAsia won a government approval for its discount carrier investment proposal.

Jobs, Core Capital Goods Orders Extend Rally, World Markets Cautious

Bikram Pandey
06 Mar, 2013
New York City

Stocks on Wall Street extended gains and orders for machinery and factory goods that signal business investment surged in January. Private sector also added net new 198,000 jobs. The euro eased ahead of the ECB meeting. The Bank of Japan is expected to accelerate monetary easing.

Nikkei at New 4-Year High

Hiruki Nakamura
06 Mar, 2013
New York City

Tokyo stocks surged following the market advance in New York. The Nikkei soared to a new 4-year high and the yen eased as the central bank starts its last meeting under the present Governor Shirakawa.

U.S. Movers: American Eagle, AeroVironment, Big Lots, Fresh Market, VeriFone

Mukesh Buch
06 Mar, 2013
New York City

American Eagle fourth quarter net jumped 85% and Big Lots net rose 5%. AeroVironment third quarter net declined 33% and Fresh Market second quarter net climbed 13%. Seaspan net surged 151%. VeriFone first quarter net swung to $11.84 million profit.

Australian Public Spending Lifts 2012 Economic Growth

Marcus Jacob
06 Mar, 2013
New York City

Australian GDP expanded at 0.6% in the December quarter and gained 3% in 2012, the fastest annual growth since 2007. However, the economic growth was uneven and growth drivers were softer than expected.

India Movers: Adani, Alembic, AstraZeneca, Dish TV, NHPC, Ranbaxy

Mukesh Buch
06 Mar, 2013
New York City

Mavi Investment Fund sold 75 million shares of Adani Power. AstraZeneca India promoters reduce their stake in the company. Dish TV board approved divestment of Singapore arm. Central government divested 12.5% stake in Rashtriya Chemicals.

Europe Movers: Admiral Group, Carrefour, Henkel, Legal & General, Vodafone

Nigel Thomas
06 Mar, 2013
New York City

Admiral Group fiscal profit jumped 17% to

Narrow Dow Average Passes Intraday Record, Service Industry Expands

Nichole Harper
05 Mar, 2013
New York City

Stocks on Wall Street extended gains on economic optimism. The narrow and legacy Dow Jones Industrial average surpassed previous intraday record in 2007. Service industry index gained at a fastest pace in a year.

Investors in Tokyo Turn Cautious, Fast Retailing Up 5%

Hiruki Nakamura
05 Mar, 2013
New York City

Tokyo stocks halted a 3-day rally as investors feared that the market gains of the last three months may have extended stocks. Fast Retailing increased after same store sales at Uniqlo jumped 9.6% in February.

U.S. Movers: Ascena Retail, Glencore, Bank of Nova Scotia, Xstrata

Mukesh Buch
05 Mar, 2013
New York City

Ascena Retail second quarter net declined 7% and Glencore profit for the year tumbled 75% and merger date with Xstrata extended. Bank of Nova Scotia first quarter net climbed 12%. Xstrata profit for the year plunged 77% to $1.37 billion.

Auto and Retail Sales Lift Australian Stocks, RBA on Hold

Marcus Jacob
05 Mar, 2013
New York City

Australian stocks closed higher after retail sales unexpectedly increased in January after falling for three months in a row. Reserve Bank of Australia left key rate at 3% for the second month in a row. Automobile sales in February increased 5.2%.

Europe Movers: Deutsche Post, Glencore, Serco, Xstrata

Nigel Thomas
05 Mar, 2013
New York City

Deutsche Post fiscal net surged 43% to

India Movers: Adani, DLF, GMR, M&M, Natco Pharma, Tata Motors

Mukesh Buch
05 Mar, 2013
New York City

Adani Enterprises share sale oversubscribed. Essar Oil received environmental clearance for coal bed methane gas. M&M third quarter net jumped 51%. Videocon sell 10% stake in Mozambique.