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Euro Area Growth Estimate Lowered; Accor Sells Motel 6

Arthi Gupta
22 May, 2012
New York City

The European indexes gained more than 1% and the OECD lowered euro area growth forecast and Greece is expected to extend recession in the sixth year in 2013. The UK annual consumer price inflation eased in April. Accor agreed to sell Motel 6 to Blackstone for $1.9 billion.

Nikkei in Tokyo Extends Gains

Nigel Thomas
22 May, 2012
New York City

Stocks in Tokyo extended gains for the second day in a row and exporters were in focus after the yen weakened a fraction and political leaders in the euro zone and China supported growth measures. Resources linked companies closed higher. Renesas Electronics is planning to cut 15% of its workforce.

Australian Indexes Rise on Global Hopes; Leighton, GrainCorp Rise

Marcus Jacob
22 May, 2012
New York City

Australian index gained more than 1% and the dollar traded below the U.S. dollar parity. Leighton Holdings, the global infrastructure group reiterated its annual earnings outlook between $400 million and $450 million. GrainCorp lifted its annual earnings estimate by as much as 11%.

Wall Street Higher on Retail Earnings; Japan, Euro Zone in Focus

Arthi Gupta
22 May, 2012
New York City

U.S. indexes traded higher after retailers reported better than expected earnings but caution prevailed after the estimate of growth in the euro zone were lowered and Japan debt rating was lowered. BestBuy, AutoZone and Williams Sonoma reported better than expected earnings.

Merger Deals of $25 Billion Lift World Indexes

Bikram Pandey
21 May, 2012
New York City

U.S. indexes gained after trading at a 4-month low on Friday. Political leaders in Europe ratcheted up rhetoric of supporting Greece in the euro zone and China said it will support more growth measures. Merger deals of $25 billion were announced today.

U.S. Movers: BlackRock, Campbell Soup, Eaton, Lowe

Mukesh Buch
21 May, 2012
New York City

Campbell Soup third quarter net slipped 5.3% to $177 million. Chinese conglomerate to acquire AMC for $2.6 billion. Eaton acquired Cooper Industries for $11.8 billion. Lowe

Yahoo! Sells Alibaba Stake; DaVita, HealthCare in $4.4 Billion Deal

Arthi Gupta
21 May, 2012
New York City

U.S. indexes gained on the merger announcements. Alibaba agreed to repurchase partial Yahoo! stake for $7.1 billion. DaVita agreed to acquire HealthCare Partners for $4.42 billion. China-based Wanda agreed to buy AMC Entertainment for $2.6 billion and Eaton Corp agreed to buy Cooper Industries.

Nikkei Attempts Rebound, Fanuc Up

Nigel Thomas
21 May, 2012
New York City

Stocks in Tokyo rebounded after a steep loss on Friday and seven consecutive weeks of losses in the benchmark Nikkei index. Fanuc gained after the company plans to expand production capacity of robotics machinery.

Australian Stocks Higher, James Hardie Returns to Profit on Tax Win

Marcus Jacob
21 May, 2012
New York City

Australian stocks rebounded and closed higher after G8 leaders urged Greece to stay in the currency union and honor its financial commitment. James Hardie returned to profitability on one-time tax gain. Resource stocks closed higher.

Euro Area Construction Output Rebounds, Spanish Yields Rise

Arthi Gupta
21 May, 2012
New York City

The European indexes gained after G8 leaders reiterated their support for Greece. Euro area construction output rebounded in March and home prices in the UK rose in April. Ryanair slumped 4% on weak fiscal year outlook. Kabel Deutschland agreed to buyTele Columbus for

Weekly Losses of 4% in U.S. Indexes, Facebook IPO Falters

Bikram Pandey
18 May, 2012
New York City

The U.S. indexes extended losses and closed lower and for the week, the S&P 500 index dropped 4.1% and the Nasdaq tumbled 5%. Facebook on the first day of trading needed underwriter support to prevent the stock falling below its offer price. World markets extend losses for the fourth week.

U.S. Movers: Ann, Donaldson, Foot Locker, Salesforce.com, Gap

Mukesh Buch
18 May, 2012
New York City

Ann first quarter net rose 5% and lifted second quarter outlook. Donaldson third quarter increased 15% to $70.9 million. Foot Locker first quarter net surged 36% to $128 million. Salesforce.com first quarter net swung to $19.5 million loss. The Gap first quarter net was flat at $233 million.

Wall Street Higher Ahead of Facebook Debut

Arthi Gupta
18 May, 2012
New York City

U.S. indexes climbed in early trading ahead of Facebook debut and traders focus on the meeting of the Group of Eight leading nations that begins today. The euro edged lower and commodities traded volatile.

Nikkei Drops to Five-Month Low

Nigel Thomas
18 May, 2012
New York City

Stocks in Japan declined sharply after global economic growth worries mounted and the euro zone uncertainties rose as Spanish banks face another round of capitalization. Exporters declined and the euro dropped to a three month low. For the week the Nikkei index dropped 3.8%.

Australian Indexes in Worst Weekly Loss in Eight Months

Marcus Jacob
18 May, 2012
New York City

Australian stocks traded lower and the benchmark index closed down 2.7% on Friday and plunged 5.6% in the week. The weekly loss was the worst in the last eight months. The Australian dollar traded near the low of the year.

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