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India Estimates Slowest GDP Growth in a Decade

Arjun Dave
07 Feb, 2013
New York City

Gross Domestic Product is expected to slow down to 5% in the year ending in March as food prices drive inflation to a record high among emerging nations. The government is facing election in next 14 months and is expected to face an uphill battle to lower spending and fiscal deficit.

U.S. Indexes Trend Lower, Weekly Claims Fall

Nichole Harper
07 Feb, 2013
New York City

Stocks in New York traded lower after market sentiment veered towards consolidation and latest earnings failed to spark interest. The dollar edged up and gold gained after central banks in Europe and U.K. held rates. Weekly unemployment claims fell in the last week.

U.S. Movers: Cognizant, Cigna, Noble Energy, Sprint, Teradata, NY Times

Mukesh Buch
07 Feb, 2013
New York City

Cognizant fourth quarter net climbed 16%. Cigna net surged 49% and lifted outlook. Noble Energy net swung to $251 million profit. Sprint loss widened. Teradata net jumped 15% and New York Times net surged more than three-fold.

Rates in Europe, UK on Hold; Vodafone Reaffirms Outlook

Barry Randall
07 Feb, 2013
New York City

European markets were generally steady after the central banks in Europe and U.K. left key rates unchanged. Spain completed its bond offering at higher yields but yields fell at French bond auction. Vodafone reiterated its earnings outlook.

Europe Movers: Alcatel, BNP, Burberry, Compass, Sanofi, Stat Oil, Vodafone

Barry Randall
07 Feb, 2013
New York City

Banks rebounded after the European Central Bank left its reference rate unchanged at 0.75%. Burberry Group replaced chief operating and finance officers. Alcatel reported another loss and chief executive stepped down. Compass Group reported higher than expected increase in sales.

Nikkei Retreats; Nikon Plunges 19%, Mazda Soars in Active Trading

Hiruki Nakamura
07 Feb, 2013
New York City

The Nikkei index retreated from a 4-year high and the yen pared back some of the recent weaknesses as investors fear overextended rally may be vulnerable to more yen swings. Sony reported eight quarterly loss and Mazda soared on heavy volume on higher net estimate.

Australian Earnings Lift Market Sentiment, Jobless Rate Steady

Marcus Jacob
07 Feb, 2013
New York City

Australian stocks extended gains for the second day on the positive earnings from National Australian Bank, Tabcorp and Telstra. Australian employment increased 10,400 in January and jobless rate held steady at 5.4%.

India Movers: Ambuja Cements, Cipla, Godrej, HDFC, Tech Mahindra

Mukesh Buch
07 Feb, 2013
New York City

Ambuja Cements fourth quarter net surged 77% and Apollo Hospitals net jumped 24.7%. AstraZeneca net swung to loss and Cipla net climbed 25.5%. Godrej Ind net soared 112% and HDFC slashed its prime lending rate. Tech Mahindra net surged 36%.

New York Trading Suggests Market Consolidation Ahead

Bikram Pandey
06 Feb, 2013
New York City

U.S. markets traded sideways and $23.5 billion Liberty Global deal with Virgin Media dominated news cycle. Earnings were also in focus after several companies exceed market expectations. The Nikkei index in Tokyo soared more than 3%.

U.S. Stocks Trend Lower Despite Stronger Earnings

Nichole Harper
06 Feb, 2013
New York City

U.S. stocks traded sideways after investors digested better than expected earnings from Ralph Lauren, Time Warner and Walt Disney. The euro edged lower ahead of the ECB meeting tomorrow and Spanish bond auction. Oil and copper traded mixed.

U.S. Movers: ArcelorMittal, BP, Cummins, CVS, Glaxo, Time Warner

Mukesh Buch
06 Feb, 2013
New York City

ArcelorMittal fourth quarter net loss widened and BP net plunged 78%. Cummins net tumbled 30% on weaker sales and CVS Caremark net climbed 7% to $1.13 billion. Glaxo net declined 34% and Time Warner net surged 51%. Disney net declined 6%.

RBS Agreed to $612 Million Libor Probe Fines

Nigel Thomas
06 Feb, 2013
New York City

Royal Bank of Scotland Group Plc agreed to pay the second largest fine linked to the Libor probe to the regulators in the U.S. and U.K. The bank narrowly avoided the criminal charges and its Japanese unit was also snared in the investigation.

European Markets Await ECB Decision, Spanish Bond Auction

Barry Randall
06 Feb, 2013
New York City

European markets traded cautious ahead of the European Central Bank meeting and closely watched Spanish bond auction tomorrow that may raise as much as

Europe Movers: Vinci, Virgin, Volvo

Barry Randall
06 Feb, 2013
New York City

Banks across the region were under pressure ahead of the European Central Bank meeting tomorrow. Vinci SA declined 4% after it reported weaker than expected 2012 results and guided flat sales in the current year. Volvo AB gained on improving outlook in the U.S. and Europe.

Liberty Global and Virgin Media in $16 Billion Deal

Barry Randall
06 Feb, 2013
New York City

Liberty Global Inc agreed to acquire U.K. cable television services provider Virgin Media Inc for $16 billion in cash and stock. Including the debt, the deal is valued at $23.3 billion.

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