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U.S. Stocks Rebound on Earnings

Bikram Pandey
20 Oct, 2010
New York City

Stocks rebounded after better than expected earnings from banks and industrial companies. Crude oil and metals rebounded. Federal Reserve regional survey indicated that U.S. economy is recovering at modest pace. UK government announced sharp budget cuts.

UK Proposes Sharp Budget Cuts

Darlington Musarurwa
20 Oct, 2010
New York City

The UK indexes traded sideways after Chancellor Osborne unveiled significant budget cuts that will also see a reduction in nearly half a million public sector jobs. The BoE policy makers were divided on quantitative easing in the latest meeting.

US Movers: Altera, Morgan Stanley, J&J and Yahoo

Mukesh Buch
20 Oct, 2010
New York City

Altera declined 2% after sales soared 84% and net soared nearly three-fold. Domino

German PPI Soars; BASF Lifts Outlook, Peugeot Sales Up 10%

123jump.com Staff
20 Oct, 2010
New York City

The European indexes gained after German PPI surged in September. Dutch consumer confidence unexpectedly improved in October. BASF SE lifted its 2010 sales outlook. PSA Peugeot Citro

U.S. Mortgage Activities Index Falls; Morgan Stanley Net Falls

Arthi Gupta
20 Oct, 2010
New York City

U.S. stocks traded higher and mortgage applications and refinancing activities declined. U.S. Treasury announced plans to sell rest of its stake in Citigroup. Morgan Stanley revenues declined 20% and net slumped 67%. Boeing Company swung to quarterly profit. Yahoo third quarter revenues flat.

India Movers: Bajaj Holdings, CEAT, BP, Oberoi Realty

Mukesh Buch
20 Oct, 2010
New York City

Bharat Petroleum increased 1% after government plans to pay subsidies of $2.2 billion for the six months in the current fiscal year. Bajaj Holdings & Investment Ltd second quarter net doubled. CEAT Limited quarterly net plunged 75%.

China Stocks Brave Sudden Rate Hike; HK Stocks Fall

Chandrasekhar Atreya
20 Oct, 2010
New York City

Stocks in China rallied from the earlier lows after the surprised rates increase but Hong Kong stocks declined. China contradicted the U.S media reports and said exports of rate earth minerals will continue and may gain momentum. Morgan Stanley gets approval to sell China International Capital.

Coal India, SBI Bond Offerings in Demand; Tax Collection Up 19%

Chandrasekhar Atreya
20 Oct, 2010
New York City

Stocks in Mumbai closed lower tracking weak sentiment in the international markets after China raised rates. Coal India IPO received 1.71 times subscription on the second day and State Bank of India bond offerings attracted 17 times. Direct tax collections for the six months of the fiscal year soared 19%.

Nikkei in Tokyo Drops 1.7% as China Lifts Rates

Chandrasekhar Atreya
20 Oct, 2010
New York City

Japanese stocks fell sharply after China increased interest rates in a surprise move overnight. Chinese Premier plans to meet leaders of Japan and South Korea in Vietnam. Japan steps up monitoring of funds managed by securities industry.

Australian Dollar and Stocks Drop; Imports Up 5%

Chandrasekhar Atreya
20 Oct, 2010
New York City

Australian shares fell after China increased interest rates and the Australian dollar edged lower. Vacancies for skilled jobs fall 10% in October. September merchandise imports into Australia rises 5%.

Banks Drag U.S. Stocks Lower; Metals, Oil Fall

Bikram Pandey
19 Oct, 2010
New York City

Stocks fell sharply on Wall Street after earnings jitters and mortgage bonds worries. Banks may be forced to pay for failed or depressed mortgages and bond holders demand higher accountability. Apple fell on earnings outlook and IBM fell after services revenues fell in the quarter.

US Movers: Apple, Bank of America, IBM, VMware

Mukesh Buch
19 Oct, 2010
New York City

Apple Inc declined and quarterly sales and net soared. Capital One Financial Corp said its quarterly net more than doubled. IBM quarterly net increased 12%. Bank of America quarterly loss widened.

India Movers: Alembic, Adani, Biocon and ING Vysya

Mukesh Buch
19 Oct, 2010
New York City

Larsen & Toubro and Bajaj Auto reported sharply higher earnings. Adani Enterprises is looking to invest $6.9 billion in Australia projects. Biocon gained after it finalized an agreement with Pfizer to sell its insulin products. ING Vysya Bank Limited said quarterly net soared 40%.

Sensex in India Drops; L&T and Bajaj Auto Net Soar

Chandrasekhar Atreya
19 Oct, 2010
New York City

Mumbai stocks fell for the fourth trading day in a row as investors seek to invest in Coal India offering and State Bank of India bonds. Larsen & Toubro and Bajaj Auto reported sharply higher earnings. Adani Enterprises is looking to invest $6.9 billion in Australia projects.

German Investor Confidence Drops to 21-Month Low

Arthi Gupta
19 Oct, 2010
New York City

The European indexes fell after euro-zone current account deficit widened and construction output fell in August. German economic sentiment slumped in October but exports to exceed

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