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Australian Markets Struggle, Billabong Plunges 27%

Marcus Jacob
10 Apr, 2013
New York City

Australian market indexes struggled to gain as consumer sentiment index declined in April. Billabong plunged 27% after it received a significantly lower than expected bid. Bank of Queensland agreed to acquire Virgin Money Australian for $40 million.

India Movers: Cairn India, Jindal, MMTC, Siemens, Tata Steel, TCS

Mukesh Buch
10 Apr, 2013
New York City

Cairn India fourth quarter oil production jumped 12%. Jindal Stainless in strategic agreement with Korean steelmaker Posco. Siemens India secured contract from Bangladesh. Tata Steel fourth quarter steel production jumped 27% and sales surged 29%.

Stocks Flat in New York, JCPenney Recalls CEO Ullman

Nichole Harper
09 Apr, 2013
New York City

U.S. stocks traded flat as investors awaited the start of the earnings season. Yen decline paused but inched near the 100-mark against one dollar. Troubled retailer fired its celebrity chief executive after sales plummeted for four quarters in a row and rehired former head.

Europe Movers: Aurubis, ADB, FirstGroup, Lagardere, Telecom Italia

Nigel Thomas
09 Apr, 2013
New York City

Aurubis chief executive officer expects better outlook in the US and Europe. ADB agrees to pay

Japanese Markets Rest after a 4-Day Surge, Yen Inches to 100

Marcus Jacob
09 Apr, 2013
New York City

Stocks in Japan were flat and real estate and exporters declined after surging for four days in a row. The yields on Japanese bonds of longer maturities rose ahead of bond auction later in the week. The yen inched towards 100 level against a dollar.

Australian Stocks Jump 1.5%, Inflation in China Falls to 2.1%

Marcus Jacob
09 Apr, 2013
New York City

Australian stocks rebounded for the second day and the benchmark index increased 1.5% after China reported a slowdown in inflation. A private survey showed that a business conditions index in Australia dropped to a four-year low.

India Movers: ABB, Apollo, Educomp, IL&FS, TCS, Wipro

Mukesh Buch
09 Apr, 2013
New York City

ABB secured an order worth $30 million in Australia. Apollo Tyres plans set up manufacturing unit in Thailand or Indonesia. IL&FS win road project for nearly $300 million. TCS agreed to acquire France based Alti SA, for

U.S. Markets Decline Ahead of Earnings

Nichole Harper
08 Apr, 2013
New York City

U.S. markets extended losses on Monday as investors await the start of the earnings season. European markets closed higher and the Nikkei in Tokyo surged for the fourth day as the yen declined to the level last seen in 2009.

U.S. Movers: AZZ, GE, Merz, Oriola-KD, Ericsson

Mukesh Buch
08 Apr, 2013
New York City

AZZ fourth quarter net surged 14%. GE agreed to buy Lufkin Industries Inc. for $3.3 billion. Merz withdraw to acquire Obagi Medical. Oriola-KD agreed to buy Sweden based Medstop Group for $229 million. Ericsson agreed to purchase media-room business from Microsoft.

Europe Movers: Cairn, Lundin, Mecom, Pirelli, Technip, Virgin Media

Nigel Thomas
08 Apr, 2013
New York City

Lundin discovered crude in the North Sea. Mecom reported advertising revenues in Dutch operations declined 28%. Pirelli delayed its business forecast. Technip secured an engineering contract for

Supercharged Nikkei Soars 2.8%, Yen Trades Above 99

Hiruki Nakamura
08 Apr, 2013
New York City

Stocks in Tokyo advanced for the fourth day in a row to a 4-year high and the yen dropped near 100 against one dollar. Real estate, banks and exporters led the gainers. Of the 225 stocks in the Nikkei index, 218 closed higher.

Australian Stocks Snapped 4-Day Decline, Construction Activities Contract

Marcus Jacob
08 Apr, 2013
New York City

Australian stocks rebounded after declining for four days in a row and construction industry index indicated contraction in March, 34th monthly decline in a row. Australian dollar fell.

India Movers: Aditya Birla Nuvo, BHEL, Idea, MMTC, TVS, RCom

Mukesh Buch
08 Apr, 2013
New York City

Aditya Birla Nuvo divested its carbon black business. BHEL secured total orders worth more than $5 billion in fiscal 2013. The telecom regulator fined Idea for $56 million. RCom plan to sell 80% stake in Reliance Globalcom.

U.S. Labor Participation Rate at 34-Year Low on Weak Job Creation in March

Nichole Harper
05 Apr, 2013
New York City

U.S. indexes declined after employers added less than expected net new jobs in March. Unemployment rate declined to 7.6% and labor participation rate plunged to 34-year low of 63.3%. Trade deficit in February declined 3.4% on the rising exports and flat imports.

U.S. Movers: Acura, Franklin Covey, GenCorp, NII, WD-40

Mukesh Buch
05 Apr, 2013
New York City

Acura Pharma was awarded a patent by the U.S. Patent Office. Franklin Covey second quarter net surged 37% and GenCorp second quarter net swung to loss. NII agreed to sell its Peruvian operations for $400 million. WD-40 net in the second quarter slipped.

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