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European Indexes Fall 1%; AXA and Citi in $1.7 Billion Deal

Arthi Gupta
08 Jun, 2011
New York City

The European indexes edged lower after comments from the U.S. Fed Chairman Ben Bernanke yesterday. AXA Private Equity agreed to acquire $1.7 billion buyout fund assets from Citigroup. Total sold Gassled stake to Silex Gas Norway for NOK 4.64 billion.

Greece Jobless Rate Soars to 16.2%; German Trade Surplus Fell

Arthi Gupta
08 Jun, 2011
New York City

Euro area economy expanded 0.8% and Iceland''s economy rebounded 2% in the first quarter. Germany trade surplus fell and French trade deficit widened in April. Greek unemployment surged to 16.2%. Romanian industrial production slackened in April.

U.S. Stocks in 5-day Losses; Treasury Sells $32 Billion Debt

Bikram Pandey
07 Jun, 2011
New York City

U.S. stocks declined for the fifth day in a row and U.S. Treasury completed the sale of $32 billion of 3-year notes. Stocks pared early gains after Fed chairman estimated economic recovery in the second half. In Europe, retail sales increased and Germany indicated higher orders in April.

U.S. Movers: G-III, Navistar, Pep Boys, Temple-Inland

Mukesh Buch
07 Jun, 2011
New York City

Booz Allen fourth quarter net more than tripled. G-III Apparel said quarterly net loss of narrowed. Navistar second quarter net income increased to $74 million. Talbots swung to quarterly profit. Temple-Inland rejects unsolicited takeover proposal from International Paper.

UK Retail Sales Drop 2.1%; Home Prices Struggle

Arthi Gupta
07 Jun, 2011
New York City

The UK indexes climbed after retail sales fell and home price rose in May. Irish property prices declined in April. BP plc may sell some of its 50% stake in TNK-BP joint venture to Russia based Rosneft.

U.S. Indexes Gain; Temple-Inland Rejects Takeover Bid

Arthi Gupta
07 Jun, 2011
New York City

U.S. indexes gained ahead of Fed Reserve Chairman Bernanke''s speech. The Food and Agriculture Organization forecasted high food prices for this year and next. NBCUniversal agreed to buy Blackstone''s stake in Universal Orlando for $1.03 billion. Temple-Inland rejected bid from International Paper.

Stocks in India Close Higher; Infosys Up, Automakers Down

Devan Biswas
07 Jun, 2011
New York City

Stocks in Mumbai traded sideways but on a rising volume. Software services exporters closed higher on new order wins and automakers closed lower ahead of expected natural gas price increase as early as tomorrow. The rupee held firm.

Nikkei in Tokyo Rebounds 0.7%; Toyota Up, Tepco Down

Nigel Thomas
07 Jun, 2011
New York City

The Nikkei benchmark index rebounded on the valuation discount but broader market traded in a tight range. Utilities and banks closed lower on the uncertainty related to Tokyo Electric Power. Automakers closed higher after Toyota scheduled earnings outlook conference on June 10.

European Indexes Higher; Ahold Sales Up 5.9%

Arthi Gupta
07 Jun, 2011
New York City

The European indexes edged higher after ratings agency revised its outlook on Hungary to stable from negative. VimpelCom acquired 90% of New Telephone Company. Finland-based Metso agreed to buy technology of Swiss Holzmag GmbH. Ahold quarterly profit rose 6.2% boosted by sales and margins.

Australia Holds Rate at 4.75%; Metcash Net Up 6%

Marcus Jacob
07 Jun, 2011
New York City

Australian stocks declined for the sixth day and extended losses in the fourth week. The Reserve Bank of Australia left key rate at 4.75% and guided higher inflation in the next one year. Metcash annual net increased 6.1% but indicated a cautious outlook.

Euro Area Retail Sales Improve; German Factory Orders Rise

Arthi Gupta
07 Jun, 2011
New York City

Euro area retail sales improved in April and German factory orders rose in April and service sector employment growth slackened in the first quarter. Norwegian jobless rate declined and Swiss inflation increased in May. Hungarian industrial production slowed in April.

U.S. Stocks in 4-day Losses; Global Selloff in Banks, Tech Stocks

Bikram Pandey
06 Jun, 2011
New York City

U.S. indexes extended losses for the fourth day in a row as banks and tech stocks led the decliners. U.S. stocks have been on the decline for the five weeks in a row as tech stocks weaken. For the year S&P 500 index is up 3%. Airlines fell after the industry group lowered the annual profit estimate.

UK Manufacturing Expands; Melrose in $590 M Deal

Arthi Gupta
06 Jun, 2011
New York City

The UK indexes fell after manufacturing expanded in the second quarter boosted by overseas demand. Aegis confirmed talks with France-based Ipsos over sale of Synovate. SABMiller subsidiary agreed to sell stake in Kenya Breweries for $225 million. Melrose disposed Dynacast division for $590 million.

U.S. Indexes Trade Sideways; IATA Lowers Industry Profit Estimate

Arthi Gupta
06 Jun, 2011
New York City

The U.S. indexes traded sideways after disappointing economic jobs data. The International Air Transport Association slashed airline industry current year profit forecast to $4 billion from $8 billion in March. LaSalle Hotel Properties agreed to acquire Park Central Hotel for $405.5 million.

Nikkei in Tokyo Down 1.2%, Tepco Plunges 27%, Banks Fall

Nigel Thomas
06 Jun, 2011
New York City

Stocks in Japan plunged on the ongoing worries related to the Tokyo Electric Power and rising bills of power generations for utility companies. The weak U.S. jobs data also dampened the sentiment. Banks closed lower on the worries that capital new international requirements may lift capital needs.

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