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Stocks Climb on the Prospects of Republican Gains; Dollar Drops

Bikram Pandey
02 Nov, 2010
New York City

U.S. stocks rose on the prospect of a landslide win by the Republican Party. The dollar declined on the prospect of gridlock in Washington. Oracle agreed to acquire Art Technology for $1 billion. India and Australia raised interest rates.

Oracle Offers $1 Billion for Art Technology

Devan Biswas
02 Nov, 2010
New York City

Oracle Corp agreed to acquire e-commerce software Art Technology for $1 billion. The acquisitive database software added its ninth target for the year as it expands into Internet and telecom application software.

U.S. Movers: BP, Expeditors International, Energizer, MEMC

Bikram Pandey
02 Nov, 2010
New York City

BP plc gained after it reported third quarter revenues increased 10%. Energizer Holdings, Inc. plunged after quarter sales drifted lower. Expeditors International of Washington, Inc quarterly sales and earnings surged more than 60%.

FTSE Rises 1.1%; Construction Activity Slumps; Imperial Tobacco Net Soars

Arthi Gupta
02 Nov, 2010
New York City

The UK indexes rose on strong earnings. The UK construction activity fell to an 8-month low in October. Irish manufacturing sector expanded but consumer sentiment deteriorated to 17-month low in October. BP net plunged on $7.7 billion pre-tax charge related to the Gulf of Mexico oil spill.

Euro-zone Manufacturing Rebounds; Romania Retained Key Rate

Arthi Gupta
02 Nov, 2010
New York City

The European indexes gained after euro area manufacturing activity improved in October. Romania Central Bank retained key rate at 6.25%. German manufacturing sector expanded and machinery orders surged. French manufacturing PMI dipped in October.

China Stocks Decline on Inflation Fears

Devan Biswas
02 Nov, 2010
New York City

Stocks in China region fell on the worries that government may be forced to raise rates and tighten home lending. Those fears were underscored today as local economists raise the prospect of faster inflation and India and Australia lifted rates today. Commodities prices edged lower.

U.S. Stocks Cautions Ahead of Election, Rate Decisions

Arthi Gupta
02 Nov, 2010
New York City

U.S. stocks traded higher ahead of the two-day Fed meeting and midterm elections. Google sued the U.S. Interior Department over messaging-service contract. GE Capital agreed to sell stake in Garanti Bank to BBVA for $3.78 billion.

India Rate Hikes Fail to Tame Stubborn Inflation

Devan Biswas
02 Nov, 2010
New York City

Stocks traded sideways as the Reserve Bank of India lifted rates for the sixth time this year. The rate hikes have failed to tame elevated food prices and stubborn inflation and record property and asset prices.

India Movers: Bajaj Auto, DLF, Emami, Orbit, PVR

123jump.com Staff
02 Nov, 2010
New York City

Stock in Mumbai closed lower. Bajaj Auto Ltd. rose 1% after sales increased 32%. DLF Limited plunged 3.5% after RBI tightened home lending and raised rates. Emami Limited surged 5.4% after net profit gained 45.3%. GlaxoSmithKline rose 1% after net profit rose 31%. PVR Limited gained 3%.

Stocks Waver Ahead of Election and Fed Meeting

Devan Biswas
01 Nov, 2010
New York City

U.S. stocks struggled as investors guessed the size of Fed stimulus this week. Commodities traded higher as the dollar traded volatile and China reported manufacturing expansion. Ambac Financial Group missed a bond payment and is seeking to file a bankruptcy.

U.S. Movers: Baker Hughes, EXCO, Wilmington Trust

Bikram Pandey
01 Nov, 2010
New York City

Baker Hughes Inc rose more than 5% after earnings exceeded expectations. EXCO Resources Inc soared after chief executive offered to take company private. Fortinet Inc soared on the takeover speculation. Wilmington Trust plunges on a lower than expected buyout offer.

UK Manufacturing Activity Grows; Home Prices Fall

Arthi Gupta
01 Nov, 2010
New York City

The UK indexes advanced after manufacturing activity growth accelerated unexpectedly and home prices fell in October. Irish private sector credit growth slackened in September. BG Group sanctioned Queensland Curtis LNG project.

European Indexes Decline; Poland, Holland, Sweden Show Gains

Arthi Gupta
01 Nov, 2010
New York City

The European indexes traded sideways ahead of the rate decision in the U.S tomorrow. The IMF estimated economy in Poland to expand 3.5%. Swedish manufacturing growth slackened and Swiss industrial activity declined in October. ICBC agreed to buy U.S. brokerage firm from BNP Paribas.

U.S. Personal Income Dips; McKesson to Acquire US Oncology for $2.2 B

Arthi Gupta
01 Nov, 2010
New York City

U.S. stocks gained after manufacturing index in China rose to 6-month high. U.S. personal income unexpectedly fell 0.1% in September. AIG raised $20.5 billion through AIA IPO. McKesson agreed to acquire U.S. Oncology for $2.16 billion in cash.

India Movers: ACC, ICICI Bank, Hero Honda, Maruti

Mukesh Buch
01 Nov, 2010
New York City

Stock in Mumbai surged after market leader Reliance Industries, pharmaceuticals and banks report higher earnings. Hero Honda Motors fell 1.3% after net profit declined 15.33%. Reliance Industries fell 0.2%. The Shipping Corporation of India net surged six fold. TVS Motor surged 6.2%.

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