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Market Update

Political Worries Hover in Japan

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
01 Jun, 2010
New York City

Stock indexes in Japan fell due to political uncertainty in the country. The futures market at the Nikkei 225 faces chaos as Deutsche Bank sends erroneous sell order. Strike at China plants of Honda continues. Hitachi prepares to globalize its water treatment business.

Australia Holds Interest Rate at 4.5%

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
01 Jun, 2010
New York City

RBA holds its benchmark interest rate at 4.5%. National Australia Bank Ltd announces extension to AXA Asia Pacific Holdings Ltd framework deed. Transurban Group announces holding interest of BlackRock Group. Rio Tinto claims government mining tax ads are misleading.

European Markets Fall; French PPI Rises

Arthi Gupta, Mayank Mehta and Sanjay Barot
01 Jun, 2010
New York City

European stocks fall amidst concerns that a slowdown in China may impede global economic recovery. Euro-zone jobless rate edges up to 10.1% in April. Swiss economic growth slows in the first quarter.

Covidien to Acquire ev3 Inc for $2.6 billion

Chandrasekhar Atreya
02 Jun, 2010
New York City

Medical equipment company Covidien Plc, has signed a definitive agreement with ev3 Inc to acquire all of its outstanding shares for $22.50 per share for a total of $2.6 billion.

U.S. Stocks Slump; Covidien to Acquire Ev3

Arthi Gupta, Mayank Mehta and Sanjay Barot
01 Jun, 2010
New York City

U.S. and world markets struggle on declining manufacturing growth in China, political turmoil in Japan and continued oil leaks in Gulf of Mexico. Investors are still worried about the elevated risks for sovereign debt default in the euro-zone. Covidien agrees to acquire Ev3 for $2.6 billion in cash.

Essar to Acquire Controlling Stake in AGC

Chandrasekhar Atreya
31 May, 2010
New York City

Essar Group has agreed to acquire the entire stake of AGC Networks listed in India for $44.5 million or Rs 206.18 crore at Rs 245 per share. The deal is subject to regulatory requirements and completion of the mandatory offer.

Australian Stocks Fall; Super Tax Debate

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
31 May, 2010
New York City

The Australian dollar which had dropped on May 28 after Fitch downgraded Spain from AAA to AA+ was little changed today, as the debt downgrading contributed to market jitters.

European Markets Higher; Spain Debt Downgrade

Arthi Gupta, Mayank Mehta and Sanjay Barot
31 May, 2010
New York City

European stocks traded higher despite a downgrade of Spain''s sovereign debt rating. Euro-zone economic confidence deteriorated and inflation accelerates to 1.6% in May. Polish economic growth slows in the first quarter.

Political Turmoil Weaken Yen

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
31 May, 2010
New York City

The Japanese stocks closed higher after regaining losses in the day on strong earnings growth in pharma companies, leading the Nikkei 225 Stock Average to rise. The broader Topix index increased with advancing stocks leading the declining stocks by a margin of two-to-one.

China Stocks Decline, Property Bond Worries

Mayank Mehta, Chandrasekhar Atreya and Sanjay Barot
31 May, 2010
New York City

Stocks in Shanghai and Hong Kong declined after a rating agency downgraded Spain

Thomson Reuters Q1 Earnings Call Transcript

123jump.com Staff
31 May, 2010
New York City

Sales up 0.3% to $3.14 billion & net income fell 31% to $134 million or 15 cents a share. Operating profit fell 8% as anticipated & the corresponding margin fell 240 basis points to 22.3%. Underlying operating profit fell 6% & margin decreased primarily due to the flow-through on lower revenues.

India

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
31 May, 2010
New York City

The benchmark index in Mumbai trading rose marginally after fluctuating between gains and losses four times in the morning. The index gained a little after the Central Statistics Organization reported today that the GDP expanded 8.6% in the quarter ending March from a year earlier.

Shell Acquires East Resources

Chandrasekhar Atreya
29 May, 2010
New York City

Shell is expanding its portfolio in North American tight gas positions with new acquisitions in high-potential US shale gas acreage in Marcellus Shale and Eagle Ford plays.

Travis Perkins Bid; Consumer Confidence Wanes

Arthi Gupta, Mayank Mehta and Sanjay Barot
28 May, 2010
New York City

UK stocks rebound led by positive gains from retailers but consumer confidence wanes. Shell acquires East Resources Inc. for $4.7 billion. Travis Perkins discusses

Baker Hughes Declines; Novell, Kroger Rise

Mayank Mehta
28 May, 2010
New York City

Baker Hughes Incorporated led the decliners in the S&P 500 index with a loss of 6.6%. Ener1 agrees to joint venture with Wanxiang. Guess profit up 55%. J. Crew posts higher profit. Novell reports 28% profit gain.