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UBS Surges 10%, Banks in Europe Rise

Arthi Gupta
27 Jul, 2010
New York City

European stocks surged after upbeat earnings from UBS and Deutsche Bank and watered down agreement at Basel Committee. German consumer confidence index gained. SAP AG reported quarterly net surged 15%. Euro-zone private sector credit growth improves and M3 money supply rises in June.

Sydney Gains; Macarthur Cancels Citic Deal

Chandrasekhar Atreya
27 Jul, 2010
New York City

Stocks in Australia gained helped by banks. Macarthur terminates venture agreement with China

Nikkei Drops; Rising Yen Affects Exports

Chandrasekhar Atreya
27 Jul, 2010
New York City

Stocks in Japan closed marginally lower and banks gained and yen traded at elevated level. Yahoo Japan and Google are in talks to partner for Internet search and ad business. Japan gives a $149 million loan to Kenya to build rice farms.

U.S. Stocks Gain; Basel Softens Reforms

Arthi Gupta
27 Jul, 2010
New York City

U.S. stocks trade higher after European banks reported better-than-expected earnings. BP Plc appointed Robert Dudley as its chief executive replacing Hayward and $30 billion worth of assets sale. The Basel Committee finalized capital and liquidity reform only after watering down stringent proposals.

Shanghai Falls; Everbright Wins IPO Approval

Chandrasekhar Atreya
27 Jul, 2010
New York City

Stocks in China fell for the first time in seven days on report that banks may suffer losses in infrastructure loans. Zijing trading remains suspended for the second day. Everbright Bank gets approval for IPO. Weekly sales of homes in Shanghai surges 44%.

Sensex Rallies; RBI Lift Rates in India

Chandrasekhar Atreya
27 Jul, 2010
New York City

Reserve Bank of India lifted rates and said it will provide economic assessment every six weeks. Stocks in Mumbai traded higher. MakeMyTrip.com plans to raise $100 million through a listing in the U.S. Fortis decides to sell its minority stake in Parkway ending two month takeover battle.

U.S. Indexes Gain on Home Sales, FedEx Outlook

123jump.com Staff
26 Jul, 2010
New York City

U.S. stocks closed higher on positive views on the economy. FedEx lifted its full year earnings view and new home sales surged 24% from the revised May sales. Banks in Europe led the gainers in the region after the release of stress test data. Asian markets closed mixed but retained positive bias.

Beckman Declines; A123 Systems, Sohu Rise

Mayank Mehta
26 Jul, 2010
New York City

Beckman Coulter, Inc. led the decliners in the S&P 500 index with a loss of 21.1%. Clorox to sell its auto care products for $750 million. Lorillard second quarter net fall 8% on flat sales.

European Markets and Banks Up

Arthi Gupta
26 Jul, 2010
New York City

The European markets gain after banking stocks rebounded on results of the stress tests. The CEBS accuses German banks of not furnishing full debt details. The economic index of the euro-zone rises in June. The Economy Minister of Germany estimated economy to expand at 2% in 2010.

UK Indexes Rise; BP CEO Replacement

Arthi Gupta
26 Jul, 2010
New York City

The UK indexes advance tracking gains in the U.S. indexes. The UK home prices fall 0.1% in July and the Bank of England noted that corporate debt markets deteriorated slightly. The UK Treasury awards more regulatory powers to the central bank.

U.S. Stocks Struggle; Lorillard Net Falls

Arthi Gupta
26 Jul, 2010
New York City

U.S. stocks trade lower and better than expected bank stress test results in Europe. Obama urged the U.S. Senate for an early passage of the small business bill. BP provided an update on the Gulf of Mexico oil spill and the oil giant reiterated there were no potential changes to management.

Sensex Retreats; Maruti Net Drops 10%

Chandrasekhar Atreya
26 Jul, 2010
New York City

Stocks in Mumbai traded lower on weaker than expected earnings from Maruti. Monsoon gains momentum. SKS Microfinance lifted its price range for public offering. EIL declined 13% after the company priced secondary offering below current market price.

China Stocks Gain; 23% Loans Default Worries

Chandrasekhar Atreya
26 Jul, 2010
New York City

Stocks in China region rallied after investor sentiment gained on improving global economic outlook. Banks in China may struggle to recoup about 23% of the 7.7 trillion yaun loans for local infrastructure projects. Trading of Zijin Mining stocks have been suspended in Hong Kong and Shanghai.

Nikkei Rallies; Trade Surplus Rises 41%

Chandrasekhar Atreya
26 Jul, 2010
New York City

Stocks in Japan rallied strongly on positive earnings outlook. Japan

Sydney Rallies; Smaller Gains in Inflation

Chandrasekhar Atreya
26 Jul, 2010
New York City

Stocks in Australia started on a bright note and sustained the gains buoyed by optimism in U.S. and Europe. PPI rises less than expected due to falling cost of vehicles and meat. Pre-Election Economic & Fiscal Outlook released. NAB sells 100 billion yen of five-year Samurai bonds.

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