ticker

Nikkei Down 0.7%; Japan Demands Bank Loans Forgiveness for Tepco

Nigel Thomas
13 May, 2011
New York City

Stocks in Japan plunged as much as 1.7% after government

Australian Stocks Rebound; St Barbara Proposes Merger with Catalpa

Marcus Jacob
13 May, 2011
New York City

Australian stocks rebounded a fraction after commodities prices stabilized. St Barbara offered Catalpa Resources cash and stock and proposed a merger to produce 480,000 ounces of gold in 2012.

U.S. Stocks Turn Positive; Treasury Sells $16 Billion 30-year Bonds

Bikram Pandey
12 May, 2011
New York City

U.S. indexes turned positive after dropping 0.6% as Fed Chairman Bernanke urged lawmakers not to link raising debt ceiling with budget cuts. Mixed set of latest economic data did not provide clear signal to health of the U.S. economy. U.S. Treasury completed the sale of $16 billion of 30-year bonds.

U.S. Movers: Arctic Cat, BCE, Cisco, Kohl

Mukesh Buch
12 May, 2011
New York City

Arctic Cat fourth quarter net loss was flat to $9.58 million. BCE first quarter net earnings declined 29% to $503 million. Cisco third quarter net income fell 18% to $1.8 billion. Kohl

UK Index Down 1%, Amlin Sales Up 14%, Supergroup Plunges 22%

Arjun Dave
12 May, 2011
New York City

UK stocks traded lower after commodities accelerated the decline for the second day in a row. Crude oil fell 2.5% and silver plunged 7% in London trading. For the month, oil is down 15% and silver has fallen 32%. Miners closed lower. Amlin reported sales increase of 14%.

U.S. Stocks Follow Lower Oil, Silver; Cisco Falls on Outlook

Bikram Pandey
12 May, 2011
New York City

U.S. stocks declined after commodities extended losses for the second day in a row. U.S. weekly jobless claims declined 44,000 and producer price index increased 0.8%. Retail sales in April increased 0.5%. Cisco reported lower third quarter earnings and guided cautious fourth quarter.

European Markets Decline on Lower Oil; Allianz, Aegon Net Plunge

Arjun Dave
12 May, 2011
New York City

European market indexes edge lower as commodities fall and resource linked stock led the decliners. Industrial production in the euro-zone fell 0.2% in March but surged from a year ago, but market focused on the falling commodities prices. Aegon NV and Allianz SE reported lower net incomes.

Sensex in India Declines 1.4%; Grasim Net Soars 32%

Devan Biswas
12 May, 2011
New York City

Stocks in Mumbai dropped sharply tracking losses in international markets despite a sharp fall in oil price. The benchmark index declined 1.4%. Industrial production index in March surged 7.3% but wholesale price index hovered near the recent high. The dip in crude oil price lifted airlines.

Nikkei in Japan Drops 1.5%; Hitachi Net Up Fourfold

Nigel Thomas
12 May, 2011
New York City

Stocks in Japan dropped sharply led by resources and commodities linked stocks. Hitachi Ltd said fourth quarter net quadrupled on cost cuts and higher sales of construction equipment and chips. Inpex, Mitsui, Mitsubishi and JX Holdings led the decliners.

Australian Index Falls 1.8%; Bluscope Estimates Annual Loss

Marcus Jacob
12 May, 2011
New York City

Australian stocks dropped 1.8% after crude oil prices plunged more than 5% in New York trading. Resource and energy complex stocks led the decliners. Optus estimated slower earnings and revenues growth in the current fiscal year. Bluescope Steel estimated full year loss.

Crude Oil Drops 5.5%,U.S. Indexes Fall 1%; Rajaratnam Found Guilty

Bikram Pandey
11 May, 2011
New York City

U.S. indexes dropped more than 1% after crude oil plunged 5.5%. Higher than expected supplies in the weekly report dragged the oil lower and gasoline plunged 8%. Precious metals closed lower. Earnings lifted European stocks and inflation in China kept investors on the sidelines in Asia.

U.S. Movers: Enbridge, Macy

Mukesh Buch
11 May, 2011
New York City

Dean Foods first quarter net income fell to $25 million. Enbridge first quarter net income rose 15% to $393 million. Macy

UK Indexes Pare Losses, ITV, HSBC Fall

Marcus Jacob
11 May, 2011
New York City

Bank of England lowered its economic growth views for 2011 and 2012 and lifted inflation warning to as high as 5%. Separately, UK trade deficit increased in March. HSBC declined after it plans to trim costs as much as $3.5 billion and ITV fell on weaker advertising outlook.

U.S. Trade Deficit Widens on Record Exports; Stocks Turn Lower

Bikram Pandey
11 May, 2011
New York City

U.S. turned lower in the morning after trade deficit widened on higher oil price and sustained imports. China reported inflation of 5.3% and bank loans rose at a slower pace. Walt Disney quarterly net missed earning estimates. Spectrum Brands gained on better than expected sales.

European Stocks Rise on Earnings; Maersk, Hermes, Storebrand Up

Nigel Thomas
11 May, 2011
New York City

European stocks inched higher as earnings lifted trading sentiment despite the ongoing worries linked to Greece. German Chancellor Angela Merkel said Greece must do its part in rebuilding its economic foundation. Maersk and Hermes gained more than 4% on better quarterly results.

Market Update