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India Movers: ACC, Cummins, EIL, Graphite India, Spicejet

Mukesh Buch
04 Feb, 2011
New York City

ACC fell after net profit tumbled 31%. Andhra Bank raises prime lending rate by 50 basis points. Cummins India tumbled after net profit declined 6%. Engineers India reported third quarter net profit rose 10%. Spicejet fell 12%.

Australian Stocks at 10-month and Dollar at 1-month Peaks

Marcus Jacob
04 Feb, 2011
New York City

Australian indexes closed at a 10-month high and the dollar advanced to a month peak on the rising commodities prices and the central bank estimate that the economy will recover from flood damages by the second half. QBE Insurance gained after it agreed to acquire Balboa Insurance for A$700 million.

U.S. Indexes Swings Higher; Gold Surges 1.7%

Bikram Pandey
03 Feb, 2011
New York City

World markets are increasingly worried that rising tensions in the Middle East may spread to oil producing nations. U.S. retailers same store sales rise 4.2%. Two largest steel companies in Japan agree to create second largest steelmaker in the world. Earnings bolstered trading setiment in U.S.

UK Services Expand to 8-month Peak, GlaxoSmithKline Up

Nigel Thomas
03 Feb, 2011
New York City

UK stocks edged lower and service industry expanded in January at a faster pace. Royal Dutch Shell fourth quarter earnings were lower than expected and Vodafone Group Plc guided higher operating earnings. GlaxoSmithKline rose after the drugmaker increased dividend payout and announced share buyback.

U.S. Movers: Cardinal Health, Kellogg, Moody

Mukesh Buch
03 Feb, 2011
New York City

Cardinal Health second quarter revenue gained 2%. CVS Caremark fourth quarter net revenue decreased 4.1% to $24.8 billion. MasterCard fourth quarter net revenues increased 10.7% to $1.4 billion. Viacom first quarter revenue decreased 5% to $3.8 billion. YUM Brands fourth quarter revenue surged 6%.

European Markets Slide; Shell Misses Earnings, Benz Auto Sales Up 23%

Nigel Thomas
03 Feb, 2011
New York City

European markets edged lower as crude oil prices rose to a 2-year high. Copper and zinc and aluminum traded higher. Royal Dutch Shell earnings miss dragged markets in Holland and in UK. Mercedes-Benz vehicles in January rose 23% to 82,700.

Lackluster New York Trading; Crude Oil 2-year High, Visa, MasterCard Net Up

Bikram Pandey
03 Feb, 2011
New York City

U.S. stocks traded sideways as crude oil climbs to a 2-year high and copper and cotton surge. Commodities markets turn jittery for the third day as popular unrest in the Middle East spread to Yemen. Visa, News Corp, Royal Dutch Shell and Hermes earnings rise. MasterCard quarterly net soared 41%.

Sensex in India Surges 1.9%; Food Inflation Worries

Devan Biswas
03 Feb, 2011
New York City

Stocks in Mumbai surged tracking gains in international markets but elevated inflation tempered the surge. Food prices rose 17.05% and fuel prices increased 11% as demand run ahead of supplies. Ashok Leyland unit sales declined 2% in January.

India Movers: Ashok Leyland, BF Utilities, Glaxo, Voltas

Mukesh Buch
03 Feb, 2011
New York City

Ashok Leyland January total sales fell 2% to 7,711 units. Great Offshore quarterly net profit slumped 96%. GlaxoSmithKline third quarter net profit surged 58%. National Aluminium increased prices by 5%. Voltas Limited third quarter net profit declined 7%.

Nippon Steel, Sumitomo Metal to Merge; Sony Sales Fall 1.4%

Nigel Thomas
03 Feb, 2011
New York City

Two largest steelmakers in Japan, Nippon Steel Corp and Sumitomo Metal Industries Ltd agreed to merge to form the second largest global steel maker. Rising input prices played a role in the merger. Mitsubishi UFJ Financial said nine-month net rose. Sony Corp third quarter revenues declined 1.4%.

Cyclone Yasi Damage Worries; Australian Stocks Up

Marcus Jacob
03 Feb, 2011
New York City

Australian stocks closed higher as Cyclone Yasi makes its way inlands in North Queensland. Homes, power lines and trees are flattened as the powerful storm covers a vast area. Tabcorp earnings rose 2.9% and declared dividend of 24 cents.

U.S., European Markets, Commodities Flat

Bikram Pandey
02 Feb, 2011
New York City

U.S. stocks were lackluster after a strong finish yesterday as events in Middle East overshadowed earnings parade. European indexes traded sideways as crude oil and copper and silver traded near their highs. Electronic Arts rose on forecast and Time Warner gained on 22% rise in earnings.

U.S. Movers: AOL, Broadcom, Lubrizol, Time Warner, Whirlpool

Mukesh Buch
02 Feb, 2011
New York City

AOL revenues decreased 26% to $596.0 million. Broadcom revenues increased 45% to $1.95 billion. Time Warner fourth quarter total revenues increased 8% to $7.8 billion. Whirlpool reported fourth quarter total sales increased 4% to $5.0 billion.

UK Construction Index Up; Imperial Tobacco Rises 5%

Marcus Jacob
02 Feb, 2011
New York City

UK stocks led the European markets as resource heavy index gained more than 0.5%. UK construction activity rebounded in January after a weather-related slowdown in December. Imperial Tobacco quarterly sales rose 5% and ICAP Plc guidance met market estimate.

European Markets Struggle; Scania, Sandvik, Atlas Copco Down

Bikram Pandey
02 Feb, 2011
New York City

European markets closed mixed with a lower bias after several Scandinavian companies reported earnings misses. Atlas Copco, Scania and Sandvik fell on lower than expected results. BMW said U.S. sales rose 21% and Mercedes-Benz U.S. sales rose 11%.

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