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Market Update

China Indexes Decline on the Prospect of More Rate Hikes

Nigel Thomas
09 Feb, 2011
New York City

Stocks in China region declined on the first of trading after a week long holiday. Resource stocks in Hong Kong and Shanghai fell tracking lower copper and gold prices. Real estate developers fell more than 2% on the worries that future rate hikes may affect asset prices.

Commonwealth Bank of Australia Net Lifts Market Index; Boral Net Up 28%

Marcus Jacob
09 Feb, 2011
New York City

Australian stocks were lifted after Commonwealth Bank of Australia reported higher than expected earnings and declared dividend of $1.32 a share. Construction materials maker Boral soared as much as 7% after first half net rose 28%.

Dow in 7-day Rally; European Markets Surrender Gains

Bikram Pandey
08 Feb, 2011
New York City

U.S. indexes gaine and reache highs not seen in more than two years. The Dow extended gains for a seven session in a row. McDonald

UK Retail Sales Rise; Osborne Raises Taxes on Banks

Marcus Jacob
08 Feb, 2011
New York City

UK stocks edged higher and commodities traded mixed after China hiked interest rate for the third time in five months. UK retail sales rose at the fastest pace in ten months. Premier Foods agreed to sell its canned food business for

U.S. Movers: Avon, Becton, Dickinson, NYSE Euronext, Sara Lee

Mukesh Buch
08 Feb, 2011
New York City

Avon revenue increased 1% and net income declined 15% to $229.5 million. Entergy revenue rose to $2.53 billion and net fell to $228.3 million. Sara Lee revenue decreased 4% and net income rose to $880 million. Teva Pharmaceutical net sales rose 16% to $4.4 billion.

U.S. Indexes Steady; China Rate Hike, Metals Edge Lower

Bikram Pandey
08 Feb, 2011
New York City

U.S. indexes inched higher in early trading but international news dominated the sentiment. China lifted rates ahead of inflation report next week and European miners report sharply higher earnings. UBS AG reported first annual profit since 2006. The euro gained 0.5% to $1.365.

ArcelorMittal Guides Higher Net; Xstrata Net Soars 86%

Nigel Thomas
08 Feb, 2011
New York City

ArcelorMittal traded at a six month high after the steel maker guided high profit in the current quarter and said it will increase output at its mines. Xstrata Plc, the largest coal exporter gained after it reported 86% increase in 2010 earnings but said growth will decline in the current year.

China Hikes Rates Ahead of Inflation Report

Devan Biswas
08 Feb, 2011
New York City

China increased benchmark interest rate for the third time since October as food prices increase and wage pressure build. China has increased 75 basis points in the last two years as global economies recover and inflation in Asia picks up momentum.

European Markets Struggle; German Output Drops, Construction Plunges

Marcus Jacob
08 Feb, 2011
New York City

European markets traded lower after Germany reported 1.5% decline industrial production in December and construction plunged 24%. UBS AG reported its first annual profit since 2008 and attracted net new assets. Xstrata Plc annual net soared 86%. ArcelorMittal guided higher quarterly net.

Sensex in India Drops 1.4%, Banks Decline

Devan Biswas
08 Feb, 2011
New York City

The benchmark index in India dropped 1.4% as investors worry another round of rate hike. Mixed earnings and selling from foreign investors also weighed on investor sentiment. Adani Power and Mundra SEZ earnings rose but Punj Lloyd reported net loss.

India Movers: Adani Power, Bharati Shipyard, Fortis Healthcare, Mundra Port

Mukesh Buch
08 Feb, 2011
New York City

Adani Power net profit surged 50% Bharati Shipyard tumbled after net profit declined 30%. Fortis Healthcare surged after net profit rose 59%. Mundra Port fell and net profit rose 40%. Punj Lloyd tumbled 10.8% after reports of third quarter net loss.

Nikkei in Japan at 9-month High; Toyota Lifts Outlook

Nigel Thomas
08 Feb, 2011
New York City

Stocks in Japan rose and the Nikkei index closed at a 9-month high on better than expected earnings. Toyota lifted its earnings outlook for the year and Japan Tobacco also made positive comments. Toyota said sales in China and emerging market are ahead of expectations. KDDI closed up 5.8%.

Stocks in Australia Up; NAB Net Rises 18%, Macquarie Net Drops 5%

Marcus Jacob
08 Feb, 2011
New York City

Australian stocks gained after the merger fever in the U.S. and record copper prices. Higher earnings from National Australia Bank lifted bank stocks. Macquarie Group declined after it estimated lower earnings. Cochlear first half net increased 16%.

Deals, Earnings Optimisim Drive U.S., World Markets Higher

Bikram Pandey
07 Feb, 2011
New York City

U.S. stocks traded higher as more evidence emerge widening global recovery. India predicted faster economic growth and Indonesia reported higher growth. Merger activities of $20 billion in the U.S. boosted stocks and commodities traded higher.

U.S. Movers: AOL, Cognizant, Humana, Loews, Sysco

Mukesh Buch
07 Feb, 2011
New York City

AOL acquire The Huffington Post for $315 million. Cognizant quarterly revenue surged 45% and net income surged 30% to $206.2 million. Humana revenue rose 9% and net income declined 57% to $107.32 million.