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Australian Index Plunges 2%, Dollar at a new One-Year Low

Marcus Jacob
23 May, 2013
New York City

Australian market indexes plunged 2% after Chinese survey indicated a decline in manufacturing and U.S. Federal Reserve comments also contributed to the negative narrative. The Australian dollar dropped to a new one-year low.

India Movers: BHEL, JSW Steel, SBI, Thermax, Unitech

Mukesh Buch
23 May, 2013
New York City

BHEL sales slid 2% and JSW Steel profit declined 62% and revenues fell 3%. SBI quarterly net dropped 37% and non-performing assets climbed to 4.75%. Thermax profit and revenue dropped. TVS Srichakra quarterly profit surged.

U.S. Movers: Eaton, Lowe

Mukesh Buch
22 May, 2013
New York City

Eaton Vance second quarter revenues jumped 9% and net climbed 21%. Lowe

Europe Earnings: Britvic, Pandora, SSE, Wm Morrison

Nigel Thomas
22 May, 2013
New York City

Britvic revenue rose 0.3% to

European Leaders Discuss Tax Evasion, Swiss Franc Slides 0.7%

Nigel Thomas
22 May, 2013
New York City

European markets trended lower as leaders of European Union gather in Brussels to discuss corporate tax loop holes and curb tax evasion with Luxembourg and Ireland in focus. Pandora tumbled after the largest investor lowered the stake in the cosmetic jewelry maker.

U.S. Stocks Extend Gains Ahead of Bernanke Testimony

Nichole Harper
22 May, 2013
New York City

U.S. stocks traded higher ahead of the Fed Chairman Bernanke comments and the release of existing home sales data. Crude oil futures declined on the unexpected buildup in inventories.

India Movers: Aban Offshore, AstraZeneca, L&T, Oracle, Zee Entertainment

Mukesh Buch
22 May, 2013
New York City

Aban Offshore secured contract worth Rs 1,110 crore. AstraZeneca sales grew 3.4% and L&T profit dropped 7% and plans to offer 3 shares for every two held. Oracle Financial plans to raise $181 million in a stock offering. Tech Mahindra profit surged 37%. Zee Entertainment revenue climbed 11%.

Bank of Japan Lifts Economic Assessment, Nikkei Jumps 1.6%

Hiruki Nakamura
22 May, 2013
New York City

Market indexes advanced to new highs since December 2007 after the Bank of Japan lifted its economic assessment for the fifth month in a row and did not offer any comments on the rising bond market yields. The yen dropped to a new 4-year low.

Australian Consumer Sentiment Falls Again, Iluka Lowers Outlook

Marcus Jacob
22 May, 2013
New York City

Australian consumer sentiment index in a private survey declined for the second month in a row. Stockland completed its $400 million capital raising plan in an oversubscribed offering. Iluka Resources dropped 6%after it lowered full-year earnings outlook on weak mineral prices.

U.S. Movers: AutoZone, Best Buy, Dick's Sporting, Home Depot, TJX

Mukesh Buch
21 May, 2013
New York City

AutoZone first quarter net jumped 7% and Best Buy net swung to a loss. Dick''s Sporting, TJX and Saks net soared 13% and Urban Outfitters net soared 39%. Home Depot net advanced 19%. TiVo net increased 13%.

Europe Earnings: Burberry Marks & Spencer, Royal Mail, Vodafone

Nigel Thomas
21 May, 2013
New York City

Burberry profit for the year slipped 2.2% and Marks & Spencer profit declined 6.5% to

European Markets Stall, UK Inflation Slows

Nigel Thomas
21 May, 2013
New York City

European markets stalled after a 3-week global markets rally. The pound declined after the UK inflation declined and home prices in London led the rise across the nation. Greek bonds rallied as the yield curve returns to normal pattern.

Stocks on Wall Street Trend Higher; Home Depot Lifts Outlook, Carnival Plunges

Nichole Harper
21 May, 2013
New York City

U.S. stocks edged slightly higher as global markets traded sideways after a 3-week rally. Hedge fund SAC Capital was in focus as regulators are said to seek the closure of the fund. Fed Chairman Bernanke is set to testify before lawmakers tomorrow.

Nikkei Wavers, Softbank to Raise $4 Billion to Fund Sprint Purchase

Hiruki Nakamura
21 May, 2013
New York City

Retail investors in Tokyo drove market trading in Tokyo as broader market indexes wavered after a 9% rise last week. Softbank plans a $3.9 billion bond offering to finance its purchase of Sprint Nextel Corp. GS Yuasa soared 17% after United Air resumed its Dreamliner flights.

Australian Indexes Fall, QBE in Focus on Oklahoma Tornado Losses

Marcus Jacob
21 May, 2013
New York City

Reserve Bank of Australian said constrained credit growth and weakening inflation provided a backdrop for the latest rate cut. However, Boart Longyear joined other mining contractors lowered profit outlook. Stockland is exploring $400 million offering.

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