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Market Update

UK Economy Inches Closer to Triple-Dip Recession, German Data Improve

Nigel Thomas
25 Jan, 2013
New York City

European Central Bank said 278 banks are scheduled to repay loans next week issued at the height of crisis two-years ago. UK economy declined at a faster pace in the December quarter. German business climate index improved in January on rising expectations.

Europe Movers: EasyJet, Monte Paschi, Nokia, SolarWorld

Barry Randall
25 Jan, 2013
New York City

Monte Paschi surged 11% on the hopes that the central bank in Italy will approve the aide as early as tomorrow. EasyJet extended gains after reporting higher sales. STMicroelectronics increased 4% on a broker recommendation. SolarWorld plunged 32% on debt restructuring announcement.

European Markets Advance on ECB Loans Repayment

Barry Randall
25 Jan, 2013
New York City

European markets advanced to a new 2-year high after more than expected banks are scheduled to repay loans to ECB next week. Banks led the gainers and the indexes higher in otherwise weak earnings season so far. German business climate index increase offered another signal of improving conditions.

Markets Extend Rally in New York, New Home Sales Fall 7.3%

Nichole Harper
25 Jan, 2013
New York City

Stocks in New extended gains after a string of better than expected earnings from Procter & Gamble, Honeywell, Starbucks and Kimberly-Clark. New home sales decreased 7.3% to annual rate of 569,000 in December but rose to the highest in 2012 in three years.

U.S. Movers: AT&T, Covidien, Honeywell, Microsoft, Kimberly-Clark, P&G

Mukesh Buch
25 Jan, 2013
New York City

AT&T second quarter net loss narrowed and Covidien first quarter net slid to $493 million. Honeywell fourth quarter net swung to profit. Microsoft second quarter net slipped 4%. Kimberly-Clark fourth quarter net declined 33% and P&G net surged 140%.

Nikkei in Tokyo Surges 2.5%, Consumer Prices Fall Again

Nigel Thomas
25 Jan, 2013
New York City

Stocks in Japan surged after the yen declined and investors bid up stocks in anticipation of a change in leadership at the Bank of Japan. Consumer prices declined in December 0.2%, a seventh monthly decline in the last eight months. Prices fell 0.1% in 2012.

Australian Stocks Rally; ResMed, Karoon Advance

Marcus Jacob
25 Jan, 2013
New York City

Stocks in Sydney advanced for the eighth day in a row and market indexes closed at a new 21-month high. Karoon Gas gained after it reported oil discovery off the coast of Brazil. MacMahon declined 4% on the worries that its Mongolian customer has financing difficulties.

India Movers: Maruti, Reliance Power Profit Surge; Sesa Goa Net Falls

Mukesh Buch
25 Jan, 2013
New York City

Biocon third quarter net climbed 8.1% and Coromandel Intl net declined 47.6%. Maruti Suzuki net more than doubled. Reliance Power net profit soared 30%. Sesa Goa net profit declined 28%.

Markets Struggle in New York, European Markets at New Highs

Bikram Pandey
24 Jan, 2013
New York City

Stocks in New York struggled to gain after reaching a new 5-year intra-day high. Jobless claims declined to a five year low. Tech stocks were in focus after Apple Inc reported flat earnings and a sharp slowdown in growth. Japan swung to trade deficit and business activities level in Germany improves.

Europe Movers: EasyJet, ICAP, Logitech, Nokia, Vodafone

Barry Randall
24 Jan, 2013
New York City

Nokia was in focus after it suspended dividend after 20 years. Vodafone gained 3% on the hopes that the U.S. based Verizon Communication may make a bod for the company. Logitech plunged 10% after it reported a quarterly loss. EasyJet gained on higher than expected earnings.

European Markets Push Higher on German Data, Nokia Drops Dividend

Barry Randall
24 Jan, 2013
New York City

European markets advanced to multi-year highs after German business confidence rebounded and a private survey showed that the decline in activities in the euro zone decelerated. Nokia suspended its dividend after 20 years. Logitech plunged 10% after declaring a loss.

Wall Street at 5-Year High, Jobless Claims Drop to 5-Year Low

Nichole Harper
24 Jan, 2013
New York City

Stocks in New York reversed early morning weakness and extended gains. Apple results weighed on the market after it reported flat earnings and issued a cautious outlook. Nokia drops dividend. Japanese trade deficit surges on higher energy imports.

U.S. Movers: 3M, Apple, Amgen, Bristol-Myers, Lockheed Martin, Raytheon

Mukesh Buch
24 Jan, 2013
New York City

Apple said first quarter net was nearly flat. Bristol-Myers fourth quarter net jumped 9% and Lockheed Martin profit dropped 17%. Union Pacific quarterly net jumped 7% to $1.04 billion.

Nikkei Halts 3-Day Decline, Apple Suppliers Under Pressure

Nigel Thomas
24 Jan, 2013
New York City

Stocks in Tokyo gained for the first time in four days after manufacturing expanded at the fastest pace in five months. The components makers for Apple declined after the phone maker reported stagnant earnings.

Australian Markets Extend Gains to New Highs, Fortescue Shipment Rises

Marcus Jacob
24 Jan, 2013
New York City

Stocks in Australia traded at a new 20-month high after the latest manufacturing survey from China showed continued strength. Fortescue Metals iron shipment was ahead of expectations. OZ Minerals plunged on copper production outlook.