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European Service Sector Slumps, Swiss Re Swings to Profit

Arthi Gupta
04 May, 2012
New York City

The European indexes edged lower ahead of regional elections this weekend and weaker-than-estimated service sector growth. Mixed earnings did not lift investor sentiment either despite Linde and BNP Paribas reporting better than expected results.

Wall Street Lower on Weak Sentiment, ECB Holds Rates

Bikram Pandey
03 May, 2012
New York City

U.S. indexes traded lower after weekly jobless claims fell to one-month low and the service industry expanded at a slower pace in April. Green Mountain Coffee plunged 46% after it lowered its earnings outlook. European Central Bank left rates at 1%.

U.S. Movers: American Tower, BCE, Cigna, GM, Sara Lee, Teradata, Viacom

Mukesh Buch
03 May, 2012
New York City

American Tower first quarter net surged 141% and raise earnings outlook. General Motors first quarter net tumbled 69% and lifted full year view. Teradata first quarter net soared 40%. Viacom second quarter net surged 56% to $585 million.

UK Home Prices Drop, BG Sells Comgas Stake for $1.8 Billion

Arthi Gupta
03 May, 2012
New York City

The UK indexes advanced and the economic growth outlook was cut for the current year. The UK home prices fell unexpectedly and service sector activity eased in April. BG Group signed a memorandum of understanding to sell Comg

U.S. Jobless Claims Fall 27,000, Productivity Drops 0.5%

Arthi Gupta
03 May, 2012
New York City

U.S. indexes gained after initial weekly jobless claims fell 27,000 to 365,000 and worker productivity decreased in the first quarter. Novartis agreed to acquire Fougera Pharmaceuticals for $1.525 billion. General Motors quarterly earnings plummeted 69% but Visa net soared 47%.

French, Spanish Bond Auctions Diverge, BMW Net Up 18%

Arthi Gupta
03 May, 2012
New York City

The European indexes gained and Spain completed bond auction at a higher borrowing cost and on strong earnings reports. Novartis agreed to acquire U.S.-based Fougera Pharmaceuticals for $1.525 billion. BMW quarterly net rose 18% on strong Asia sales.

Euro Area Producer Prices Climb, Hungarian Surplus Revised Up

Arthi Gupta
03 May, 2012
New York City

The euro area producer price index rose less than estimated in March. Hungarian trade surplus increased in February and Belgian economy expanded in the first quarter.

Australian Stocks Ease; Earnings Decline at Harvey Norman, Westpac

Marcus Jacob
03 May, 2012
New York City

Australian stocks ended lower after commodities eased in international markets. Westpac said first half net declined 25% on the rising costs of bad debts and passed on only 32 basis points of the 50 basis points rate cut. Harvey Norman reported weak results.

World Markets Struggle on Euro Zone Unemployment and Election Worries

Bikram Pandey
02 May, 2012
New York City

U.S. stocks traded sideways after private sector added less than expected jobs in April and unemployment in Europe surged to a record high in fifteen years. U.S. auto sales rose for the sixth month in a row and BMW and Mercedes sales rose 27% in April but GM and Ford sales fell.

U.S. Movers: Broadcom, CBS, Comcast, Devon Energy, MasterCard, Time Warner

Mukesh Buch
02 May, 2012
New York City

Broadcom first quarter net tumbled 61% and CBS Corp net surged 80% as licensing fee rose. Comcast first quarter net surged 30% to $1.22 billion. MasterCard first quarter net surged 21% to $682 million. Time Warner first quarter net fell 11% to $583 million.

UK Mortgage Approvals Rise, Home Retail Plunges 11%

Arthi Gupta
02 May, 2012
New York City

The UK indexes dropped after mortgage approvals rose in March. UK construction activity eased but Irish jobless rate remained flat in April. BSkyB said nine month revenues and profit rose and distanced its self from Murdoch family. Home Retail plunged 11% on weak full year performance.

Nikkei Higher in Thin Trading, Idemitsu Kosan Up on Earnings

Nigel Thomas
02 May, 2012
New York City

Stock gains in Tokyo were limited ahead of a long weekend and elections in Europe. Exporters and auto makers were higher after the yen eased and energy sector stocks advanced after Idemitsu Kosan Co reported better than expected fiscal year earnings.

U.S. Private Sector Adds 119,000 Jobs, MasterCard Net Rises 21%

Arthi Gupta
02 May, 2012
New York City

U.S. indexes edged lower after private employment rose less than estimated in April and March estimate was lowered. Wolverine and private equity firms agreed to acquire the parent of Payless ShoeSource for $2 billion. Ascena Retail agreed to buy Charming Shoppes for approximately $890 million.

ANZ Net Up 5%, Murdoch Faces More Calls to Resign

Marcus Jacob
02 May, 2012
New York City

The Australian market index closed higher and major banks failed to pass on the latest rate cut to consumers. ANZ said first half profit increased 5% to a record high. News Corp rose on the prospect that Rupert Murdoch may be forced out after the latest UK panel report.

European Indexes Higher, UBS Net Plunges 54%

Arthi Gupta
02 May, 2012
New York City

The European market indexes advanced despite the rise in unemployment across the region and manufacturing activity shrank. UBS quarterly net plunged 54% but TNT swung to profit.

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