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Market Update

U.S. Movers: Alcoa, Chevron, Community Health, Fastenal, WMS

Mukesh Buch
12 Apr, 2011
New York City

Alcoa declined after it reported lower than expected sales. Chevron expects profit rise in first quarter. Community Health responds to Tenet lawsuit. Fastenal first quarter net earnings surged 42%. WMS Industries lowered third quarter revenue outlook.

UK Annual Inflation Eases; Allied Irish Banks Plunges 10%

Arthi Gupta
12 Apr, 2011
New York City

Stocks declined in London after Japan struggled with more earthquakes. The UK retail sales dropped, home prices rose more than estimated and trade deficit narrowed. Aviva lowered its stake in Delta Lloyd NV. Punch Tavern revenues declined 3.6% in the first half.

U.S. Trade Deficit Narrows, Import Prices Rise; Alcoa Swings to Profit

Arthi Gupta
12 Apr, 2011
New York City

U.S. indexes fell after Japanese authorities raised the nuclear disaster level at the Fukushima Daiichi nuclear plant to the highest level. The U.S. trade deficit narrowed to $45.8 billion and import prices soared on higher fuel prices. Alcoa swung to profit but sales were lower than expected.

European Indexes Slide; Fiat Raises Chrysler Stake, Glencore IPO

Arthi Gupta
12 Apr, 2011
New York City

European indexes declined after Japan raised the nuclear disaster level at the Fukushima nuclear plant to the highest level. Fiat increased its stake in Chrysler to 30%. German investor sentiment deteriorated more than estimated in April.

German Inflation at 2.1%, French Current Account Deficit Widens

Arthi Gupta
12 Apr, 2011
New York City

European online recruitment activity improved in March. German inflation confirmed at 2.1% in March and economic sentiment deteriorated in April. French current account deficit widened in February. Spanish annual inflation remained unchanged at 3.6% in March.

Hang Seng Drops 1.3%, Shanghai Eases Ahead of Inflation, GDP Release

Devan Biswas
12 Apr, 2011
New York City

Stocks in Shanghai and Hong Kong declined on the worries that inflation may overshoot government target for the second month in a row. China is scheduled to release GDP and inflation data this week. Banks and real estate developers declined and steelmakers gained on earnings expectations.

Nikkei Drops 1.7%, Two Strong Quakes Hit Japan

Nigel Thomas
12 Apr, 2011
New York City

Stocks in Tokyo dropped for the second day after one earthquake hit Fukushima region and another powerful quake stuck in the ocean near Tokyo. The Nikkei dropped 1.7%. Crude oil eased. Tokyo Steel estimated higher annual net loss.

Australian Index Declines 1.5%, IMF Cuts Global Outlook

Marcus Jacob
12 Apr, 2011
New York City

Australian stocks and dollar turned lower after international worries overshadowed market sentiment. The IMF cut global economic output and trimmed the U.S. economic growth rate to 2.8% and Japan

World, U.S. Markets Decline; Crude Oil Falls

Bikram Pandey
11 Apr, 2011
New York City

U.S. stocks lost steam and crude oil declined from the 30-month high. Schneider Electric is exploring an offer for Tyco International. Endo agrees to acquire American Medical Systems for $2.9 billion. Crude oil falls after Libya accepts the African Union proposal.

U.S. Movers: Benchmark Electronics, Cliffs, Endo, Level 3, QuickLogic

Mukesh Buch
11 Apr, 2011
New York City

Benchmark Electronics lowered first quarter guidance sales to be of $540 million. Cliffs receive cash payment of as much as $270 million after price settlement with ArcelorMittal. Endo Pharmaceutical agreed to acquire American Medical Systems for $2.9 Billion in cash. Shaw Group net income fell 98%.

UK Indexes Rise; Irish Industrial Production, Construction Drops

Arthi Gupta
11 Apr, 2011
New York City

The UK indexes traded higher after banking stocks rose after the independent commission did not recommend breaking large banks. Irish industrial production and construction dropped. BHP Billiton completed its $10 billion stock buyback program.

U.S. Stocks Up; Endo to Buy American Medical Systems for $2.9 B

Arthi Gupta
11 Apr, 2011
New York City

U.S. indexes gained ahead of first quarter earnings season. U.S. government averted shut-down crisis as lawmakers agree on spending cuts. Endo agreed to acquire American Medical Systems for $2.9 billion. TimberWest Forest agreed to be purchased for C$1.03 billion.

French Industrial Output Eases; Dutch Trade Surplus Increases

Arthi Gupta
11 Apr, 2011
New York City

The OECD leading index rose in February. German corporate insolvencies dropped in January. French industrial output slackened in February and Dutch trade surplus rose in February. Romanian inflation accelerated to 8.01% in March.

European Indexes Lower; Hochtief Plunges 8.6%

Arthi Gupta
11 Apr, 2011
New York City

European indexes traded sideways led by automakers. Meyer Burger agreed to acquire Roth & Rau for

Fifth Daily Decline in Sensex; Shippers, Builders Decline

Devan Biswas
11 Apr, 2011
New York City

Mumbai stocks extended losses for the fifth day in a row as crude oil hovered near 30-month high and industrial production increased 3.6% in February. The less than expected growth in production also contributed to the weak trading sentiment.