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Australian Rates on Hold; Weak Retail Sales Growth

Marcus Jacob
03 Apr, 2012
New York City

Australian stocks inched higher in a directionless trading after the central bank left its key lending rate on hold but held out a possible rate cut at its next meeting in a month. Retail sales in February grew at anemic rate highlighting weak consumer spending.

Global Markets and U.S. Indexes Extend Rally to Second Quarter

Bikram Pandey
02 Apr, 2012
New York City

U.S. stocks extended gains on the first day of the second quarter as the rally as the rally advances to the seventh month. Commodities advanced after manufacturing index gained but construction spending fell. European markets trimmed gains and stocks gained in new financial year in Japan and India.

UK Manufacturing at 10-Month High; GSK Raises Stake in Theravance

Arthi Gupta
02 Apr, 2012
New York City

The UK indexes soared after manufacturing activity and business sentiment rose in March and housing equity injections remained unchanged in the fourth quarter. GlaxoSmithKline increased its stake in U.S.-based Theravance.

Coty's $10 Billion Bid for Avon Has Wall Street's Support

Nichole Harper
02 Apr, 2012
New York City

Avon Products rejected $10 billion cash offer from a privately held Coty. The perfume seller said it does not want to proceed if Avon rejects its friendly overtures but pressured the company to open its books that may lead to a higher offer.

U.S. Manufacturing Improves, Construction Spending Drops

Arthi Gupta
02 Apr, 2012
New York City

U.S. indexes rebounded after manufacturing sector activity rose in March. U.S. construction spending fell in February. Avon rebuffed $10 billion Coty takeover offer. Dow Chemical to cut 900 jobs worldwide.

U.S. Movers: Avon, Glaxo, Global Payments, Groupon, Express Scripts

Mukesh Buch
02 Apr, 2012
New York City

Avon rejected $10 billion offer from Coty. Glaxo raised its stake in Theravance. Global Payments third quarter net soared 21% and lifted full year revenue guidance. Groupon revised fourth quarter guidance. Express Scripts completed acquisition of Medco Health for $29.1 billion.

Euro Area Manufacturing Shrinks; Danish Retail Sales Fall

Arthi Gupta
02 Apr, 2012
New York City

Jobless rate in the euro area climbed, Danish retail sales fell and Swiss retail turnover growth eased in February. Manufacturing output contracted across the euro-zone in March.

European Indexes Sideways; Jobless Rate at 10.8%

Arthi Gupta
02 Apr, 2012
New York City

The European indexes lost early momentum after unemployment rose in February. Privately held cosmetic maker Coty offered to acquire U.S. based Avon Products for $10 billion. Barry Callebaut first-half net declined.

Nikkei Gains on First Day of New Finanical Year

Nigel Thomas
02 Apr, 2012
New York City

Stocks on the first day of a new financial year gained after investors shifted focus to opportunities linked to Japan reconstruction. The latest survey of big manufacturers showed no change in sentiment in the first quarter but automakers said sentiment improved for the third month in a row.

Australian Building Approvals Drop 7.8%; Stocks Inch Lower

Marcus Jacob
02 Apr, 2012
New York City

Australian stocks edged lower after residential building approvals declined 7.8% in February from January but home prices inched higher in large cities.

RiM Overhauls Management, Fifth Quarterly Sales Decline

Devan Biswas
30 Mar, 2012
New York City

Research in Motion announced more executive changes and vowed to focus on its core smartphone products as quarterly sales declined for the fifth quarter in a row.

U.S. Indexes Extend Gains; Consumer Spending Up 0.8%

Nichole Harper
30 Mar, 2012
New York City

U.S. stocks extend gains on the last day of the quartet and the benchmark index is set to close up 12% in the quarter. The stocks were higher after U.S. consumer spending rose 0.8% in February, the most in seven months and European ministers agreed to increase bailout fund size.

Australian Indexes Surge 7% in First Quarter

Marcus Jacob
30 Mar, 2012
New York City

Australian stocks eased on the last day of the quarter and the week. For the week the benchmark index gained 2% and soared 7% in the first quarter. Qantas announced fuel surcharge to recover some of the recent increase in fuel prices. Retailers rebound in the first quarter.

Europe Increases Bailout Fund to

Arthi Gupta
30 Mar, 2012
New York City

Finance ministers in Europe raised combined limit of bailout funds to $930 billion that may have to be revised higher in a year. Euro area annual inflation eased in March. German and Spanish retail sales fell in February.

U.S. Indexes in 3-day Losses; Oil Falls 2%

Bikram Pandey
29 Mar, 2012
New York City

U.S. stocks eased for the third day in a row on the rising worries about inflated domestic market valuations and the health of the economy in the euro zone. Best Buy plans to shutter 50 stores and a Korea based company may bid for operator of Payless ShoeSource. Crude oil decreased 2%.

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