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Australian Indexes Drop 2.3%; AMP, IAG, Qantas Net Rise

Marcus Jacob
21 Feb, 2013
New York City

Australian market rally came to an abrupt halt as regional markets dropped. The benchmark index dropped 2.3%, largest one day decline in nine months. IAG said its profit more than tripled and increased insurance premium. Origin Energy net tumbled on margin compression.

India Movers: ABB Net Plunges 73%, Nestle India Net Climbs 21%

Mukesh Buch
21 Feb, 2013
New York City

ABB fourth quarter net plunged 73% and Nestle India net climbed 21%. SAIL board is likely to decide share buy-back plan on February 25. Shriram Transport dropped. Videocon jumped on Mozambique stake sale talk with ONGC.

Europe Movers: Allianz Net Doubles, BAE Profit Falls

Nigel Thomas
21 Feb, 2013
New York City

Allianz SE net doubled to

Office Depot to Buy OfficeMax for $1.2 Billion

Devan Biswas
20 Feb, 2013
New York City

Office Depot agreed to acquire OfficeMax in all stock deal that will create a company with total sales of $18 billion. The office supply industry consolidates after the weak economy drags sales and the competition from online retailers shrink margins.

U.S. Stocks Fall After Home Construction Declines 8.5%

Nichole Harper
20 Feb, 2013
New York City

U.S. stocks declined after home construction fell 8.5% in January after surging 15.7% in December. The weakness in the housing data dragged market sentiment. Office Depot agreed to buy OfficeMax for $1.2 billion.

UK Jobless Claims Decline, Spain Estimates Deficit to Fall to 7%

Barry Randall
20 Feb, 2013
New York City

Markets in Europe traded higher but trading volume was weak. Spain estimated budget deficit in 2012 to decline just below 7%, the lowest in four years. UK jobless claims fell more than expected in January.

U.S. Movers: Analog Devices, DTE Energy, DISH, Dell, Owens Corning

Mukesh Buch
20 Feb, 2013
New York City

Analog Devices first quarter net plunged 31% and DTE Energy net tumbled 46%. DISH Network fourth quarter net declined 33% on lower subscribers. Dell net plunged 31% and Owens Corning net swung to a loss.

Japan Trade Deficit Swells to Record $17 Billion in January

Hiruki Nakamura
20 Feb, 2013
New York City

Stocks in Tokyo gained ahead of the central bank leadership change announcement. Trade deficit in January increased to a record high of $17.4 billion on rising energy imports and weakening yen. Toyota plans to increase domestic auto production from April.

Europe Movers: BHP Billiton, Credit Agricole, France Telecom

Nigel Thomas
20 Feb, 2013
New York City

BHP Billiton net plunged 58% and Credit Agricole loss widened to

Australian Markets at New 4-Year High; Fortescue, BHP, Suncorp in Focus

Marcus Jacob
20 Feb, 2013
New York City

Australian markets closed higher and the ASX index traded at a new 4-year high. Fortescue net declined 40% on lower iron ore prices. BHP Billiton announced chief executive Marius Kloppers will be replaced by Andrew Mackenzie. Suncorp raised dividend by 25%.

India Movers: Reliance, BP and Niko Plan $5 billion Investments

Mukesh Buch
20 Feb, 2013
New York City

Jaiprakash Power launched qualified institutional placement to raise nearly $730 million. LIC Housing Finance plans to raise nearly $37 million. Reliance Industries and two partners plan to invest over $5 billion in KG-D6 basin. Thomas Cook net declined 25%.

Global Markets Rally on Earnings and Rising Confidence

Bikram Pandey
19 Feb, 2013
New York City

U.S. market indexes extended gains in global markets after German confidence surged and earnings on both sides of Atlantic rose. Crude oil held at elevated levels and gold eased for the second day in a row in New York.

S&P 500 Extends Seventh Weekly Advance

Nichole Harper
19 Feb, 2013
New York City

U.S. stocks extended gains after the latest earnings release and widespread gains in the European markets. German investor confidence rose more than estimated. Merger talks among office supply retailers also contributed to the positive sentiment. Homebuilder confidence unexpectedly fell in February.

European Indexes Jump on Improving German Data, Spain Raises

Barry Randall
19 Feb, 2013
New York City

Markets in the European Union soared after German investor confidence in February was ahead of expectations by a wide margin. Spain successfully raised 4 billion euros meeting its debt sale target. Italy is set to complete parliamentary election this weekend.

Japan Stocks in Holding Pattern, Bridgestone Estimates Higher Earnings

Hiruki Nakamura
19 Feb, 2013
New York City

Stocks in Tokyo edged lower and the yen gained against the dollar. Prime minister will delay the appointment of Bank of Japan governor after his return from a trade summit talks with President Obama later this week. Bridgestone soared on earnings surprise.

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