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Yen rebound Drags the Nikkei Down 2.6%

Nigel Thomas
16 Jan, 2013
New York City

Stocks in Tokyo fell sharply from a 32-month high after the yen declined for the second day. Market indexes have surged more than 26% in the last two months. Aircraft parts suppliers declined after ANA grounded a fleet of Boeing 787 for inspection after an emergency landing.

Australian Auto Sales Jump, Consumer Sentiment Rises

Marcus Jacob
16 Jan, 2013
New York City

Australian markets closed higher after auto sales jumped in December and banks gained. The latest read on consumer sentiment showed a positive bias. Boral, construction material company plans to trim 700 jobs.

U.S. Movers: JPMorgan, Northern Trust, Goldman Sachs, U.S. Bancorp

Mukesh Buch
16 Jan, 2013
New York City

JPMorgan fourth quarter net soared 53% and Northern Trust quarterly net jumped 29%. Goldman Sachs fourth quarter net surged nearly three-fold. BNY Mellon net profit climbed 23%.

India Movers: Bajaj Auto Net Up 3%, Essar Oil Swings to Profit

Mukesh Buch
16 Jan, 2013
New York City

Bajaj Auto dropped after third quarter net profit grew 3% and DEN Networks third quarter net profit surged nearly four-fold. Essar Oil third quarter net swung to profit. Ranbaxy and Daiichi Sankyo plan to merge businesses in Thailand.

Wall Street Trims Losses, Debt Ceiling Talks Adds to Market Volatility

Bikram Pandey
15 Jan, 2013
New York City

Market indexes in New York steadily recovered from the morning decline after retailers gained. Apple, Intel and General Electric were in focus ahead of earnings this week. Debt ceiling concerns added to market volatility as lawmakers struggle to find a compromise.

Optimism Lifts Nikkei to 32-Month High, Yen Gains Trimmed

Nigel Thomas
15 Jan, 2013
New York City

Nikkei index in Tokyo closed at a 32-month high and the yen declined further prompting comments from Economics Minister Amari. The yen traded at a new 26-month low and markets are anticipating revised inflation target at the BoJ meeting next week.

Australian Markets Steady, Rio Tinto Plans 15% Growth in Iron Ore Output

Marcus Jacob
15 Jan, 2013
New York City

Australian stocks turned lower after resource stocks and banks failed to hold on to the gains of the day. Rio Tinto plans to increase iron ore production by 15% in 2013 and said it is on track to commence production at its gold and copper mine in Mongolia.

European Markets slide, German Economy Shrinks 0.5%

Nigel Thomas
15 Jan, 2013
New York City

European markets traded lower in the region ahead of corporate earnings. Markets accelerated losses on the worries that the U.S. debt negotiations may drag for another two months.

India Movers: Axis Bank, Bajaj Finance, Crompton Greaves, GRUH Finance

Mukesh Buch
15 Jan, 2013
New York City

Axis Bank advanced 2.2% on third quarter net profit climbed 22% and Bajaj Finance net profit jumped 33%. Crompton Greaves plans to set up second power transformer manufacturing unit. Decolight Ceramics won export order for tiles.

Renault to Trim 17% Staff in France; H&M, Burberry Sales Beat Expectations

Barry Randall
15 Jan, 2013
New York City

Renault plans to trim 17% of its staff in France in the next four years joining other automakers in the region. Burberry Group soared 7% after sales were ahead of expectations. SAP AG declined after it reported weaker than expected earnings. H&M, the apparel retailer monthly sales increase.

Stocks Falter on Washington Gridlock and Earnings Caution

Nichole Harper
15 Jan, 2013
New York City

Stocks were under pressure in New York and Washington rhetoric turned traders cautious. General caution and negative sentiment prevailed ahead of the corporate earnings release this week. Lennar reported higher than expected earnings on an increase in new orders.

U.S. Movers: Dell, Express, Forest Laboratories, Lennar, Lululemon

Mukesh Buch
15 Jan, 2013
New York City

Dell jumped on the speculation that the company may go private. Express lifted outlook for the fourth quarter and full year 2012. Forest Laboratories third quarter net swung to $153.6 million loss. Lennar fourth quarter jumped more than three-fold and new order climbed 32%.

U.S. Retail Sales Rise, Wholesale Price Index Falls

Mukesh Buch
15 Jan, 2013
New York City

Retail sales in December were ahead of expectations after consumers overlooked Washington gridlock and the prospects of future tax increase. Reported wholesale price index declined for the third month in a row, however the index does not capture the broader prices increases in the service sector.

Obama Hints Firmer Tone in Debt Talks, Fed Estimate Improving Economy

Bikram Pandey
14 Jan, 2013
New York City

Stocks struggled in New York and merger deals drove market sentiment in Europe. President Obama hinted firmer tone in the next debt ceiling negotiations and Fed official estimated accelerating economic growth in the next two years. UPS abandoned its $6.9 billion deal to but TNT Express.

European Output Declines For Third Month, Markets Struggle

Barry Randall
14 Jan, 2013
New York City

European markets were weak across the region but merger activities lifted larger markets. Industrial production declined 3.7% in November, third monthly decline in a row.

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