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Largest Weekly Drop in Australian Stocks in a Year

Marcus Jacob
22 Mar, 2013
New York City

Stocks in Sydney traded higher after a decline for 4-days and the benchmark index closed down 3%, largest fall in a year. Banks led the advance.

India Movers: Cairn India, HDFC, HCL, ING Vysya, SAIL, TBZ

Mukesh Buch
22 Mar, 2013
New York City

Cairn India began sale of natural gas in Gujarat. HDFC plans to raise $92 million through a bond offering. HCL launch ME tablet in Turkey. ING Vysya becomes 100% subsidiary of Exide. SAIL secondary issue 98% subscribed.

ECB Sets Deadline for Cyprus, Weak Read on German Manufacturing

Barry Randall
21 Mar, 2013
New York City

European markets declined for the third day in a row as the latest read on manufacturing in the region was weaker than expected. The euro eased against the dollar after the European Central Bank set a firm deadline for the acceptance of bailout for Cyprus.

U.S. Home Sales at 3-Year High, Stocks Fall on Cyprus Worries

Nichole Harper
21 Mar, 2013
New York City

Market indexes on Wall Street declined after a positive report on the housing market failed to overshadow growing uncertainties in the euro zone. Existing home sales and median home sale price increased in February.

U.S. Movers: Guess, Jabil Circuit, KB Home, Lululemon, Oracle, Cato

Mukesh Buch
21 Mar, 2013
New York City

Guess Inc said fourth quarter net plunged 11%. Jabil Circuit second quarter net dropped 9%. KB Home loss narrowed as revenue jumped 59%. Lululemon fourth quarter net climbed 49% and Oracle third quarter net was lower than expected.

Europe Movers: Brenntag, Havas, Lanxess, Rieter

Nigel Thomas
21 Mar, 2013
New York City

Brenntag reported annual net soared 21% to

Eighth Monthly Trade Deficit in Japan, Kuroda Faces Skeptics

Hiruki Nakamura
21 Mar, 2013
New York City

Stocks in Tokyo closed higher and Governor of Bank of Japan faced criticism of 2% inflation target at his first press conference. Japan recorded its eighth monthly trade deficit and the yen declined 0.6%.

Australian Political Uncertainty Saps Market Confidence

Marcus Jacob
21 Mar, 2013
New York City

Australian political uncertainty sapped market confidence and index managed to trim losses after Prime Minister Julia Gillard settled leadership challenge. Billabong plunged on speculation that the company may not receive firm takeover offers.

India Movers: Adani Power, Airtel, Bajaj Finance, IOB, L&T, MTNL

Mukesh Buch
21 Mar, 2013
New York City

Adani Power plans to issue shares to promoters on preferential basis. Indian Overseas Bank approved additional stake sales to central government. L&T won new orders valued Rs 2,080 crore.

Cyprus and Creditors at Odds as Europe Seeks to Contain Damage

Barry Randall
20 Mar, 2013
New York City

Cyprus Parliament struck down the proposal to tax depositors and international creditors looked for alternatives to stem the growing debt crisis. Cyprus ministers looked to Russia for emergency help and European regulators debated the fate of bailout as the banking system in Cyprus remains closed.

U.S. Markets Advance, Tensions in Cypruse on the Rise

Nichole Harper
20 Mar, 2013
New York City

Stocks on Wall Street opened higher and struggled to retain the small gains after the two hours of trading. The dollar advanced on the rising tensions between international lenders and Cyprus after lawmakers rejected a tax on bank depositors.

U.S. Movers: Actuant, Adobe, FedEx, General Mills, Lennar, Williams-Sonoma

Mukesh Buch
20 Mar, 2013
New York City

Actuant second quarter net plunged 12% and Adobe first quarter net tumbled 65%. FedEx third quarter net declined 31% to $361 million and General Mills net rose 2%. Williams-Sonoma fourth quarter net climbed 10%.

Europe Movers: Asos, Deutsche Bank, Metro, Rheinmetall, Smiths Group

Nigel Thomas
20 Mar, 2013
New York City

Asos said second quarter sales soared 37% to

Weak Commodities Drag Australian Indexes Lower

Marcus Jacob
20 Mar, 2013
New York City

Australian market indexes traded lower on the growing uncertainties in the euro zone and rising worries of weak demand growth for commodities in China. Resource sector stocks fell sharply on the worries that the iron ore prices may dip to $120 a ton in the next few weeks.

India Movers: 3M India, Manappuram Finance, ONGC, SAIL, SBI, V Mart

Mukesh Buch
20 Mar, 2013
New York City

3M India offer for sell of equity shares. Manappuram Finance said fourth quarter profits may drop. ONGC sign agreement to set up oil terminal costing to $750 million. SBI allots 12.99 million shares to the government. Government approved 10.8% stake sale of SAIL on March 22.

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