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China Stocks Close Lower; Ping An Earnings

Mayank Mehta
29 Apr, 2010
New York City

Stocks in Hong Kong and Shanghai closed lower on the worries that euro zone financial crisis may deepen. Banks reported higher profits. Ping An Insurance Co reported a surge in profit. China Shenhua Energy Co reported better than expected earnings after the close.

Euro Weak; Amadeus IPO

Arthi Gupta, Mayank Mehta and Sanjay Barot
29 Apr, 2010
New York City

European stocks rebounded as Siemens profit surged 54%. Banco Santander SA net increase 6% in the quarter and Bayer posts 63% rise in first quarter net. ArcelorMittal returns to profit in the first quarter.

London: Unilever, BSkyB, Astrazeneca

Arthi Gupta, Mayank Mehta and Sanjay Barot
29 Apr, 2010
New York City

In nervous trading U.K. stocks closed higher as positive earnings lifted select stocks. Unilever Plc, BSkyB and AstraZeneca gained on higher earnings. Mortgage approvals increased 4.6% in March and home prices in April increased as higher demand.

Akamai, First Solar Rise; Visa, Kodak Fall

Mayank Mehta
29 Apr, 2010
New York City

Akamai Technologies, Inc led gainers in the S&P 500 index with a rise of 16%. Exxon Mobil net climbs 38%. Kellogg announces $2.5 billion buyback. ConocoPhillips net income more than doubles. Waste Management net income climbs 17%. Fortune Brands quarterly profit jumps to $72 million.

Australian Stocks Rebound; ANZ Net Soars

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
29 Apr, 2010
New York City

Stocks in Australia rebounded after world markets and commodities prices gained. Home price increase growth in March quarter declined to 3.1% from 5.3% in the previous quarter as the recent rate hike takes hold. First half profit at ANZ increased 36%.

India Launches Disinvestment Plan; SJVN IPO

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
29 Apr, 2010
New York City

The benchmark Sensex index rebounded from the largest one day drop in three months on better than expected earnings, recovering global markets and inflation data. Food price declined in the period. The government launched disinvestment with the proposed 10% stake sale in SJVN Ltd.

HP Acquires Palm; U.S., World Stocks Rebound

Arthi Gupta, Mayank Mehta and Sanjay Barot
29 Apr, 2010
New York City

U.S. stocks traded higher after weekly jobless claims declined. Hewlett Packard agreed to acquire Palm Inc for $1.2 billion. Visa Inc second quarter net surged 33%. Aetna Inc quarterly net increased 29%.

Fed Estimates Low Rates; Greek Bailout Cost Soar

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

Fed left its interest rate target near zero and noted that though the economic activities are picking up, labor markets remain weak and substantial resource slack continue to restrain cost pressure and rates are likely to remain low for an extended period of time.

China Postpones Land Auction, Stocks Fall

Mayank Mehta
28 Apr, 2010
New York City

Property developers led the decliners in Hong Kong and Shanghai trading. China postponed a residential land auction to next month after bids exceeded the upper limit set by the government. Beijing will issue new directive for second and third homes in the city.

AOL, Robert Half, JetBlue, WellPoint Fall

Mayank Mehta
28 Apr, 2010
New York City

Robert Half International Inc led the decliners in the S&P 500 index with a loss of 11%. Wyndham profit rises. General Dynamics net income up 1.2%. Hess Corp swings to profit on revenue increase of 34%. AOL earnings drop 58% in first quarter. Sprint Nextel loss widens.

UK Investors Worry Greek Fallout

Mayank Mehta
28 Apr, 2010
New York City

UK stocks closed lower despite positive earnings. The situation in euro zone took another negative turn after the rating agency S&P lowered Spain debt rating a day after Greece and Portugal debts were downgraded. Investors are worried that without a speedy political solution Greece may default.

Euro 1-year Low; Contagion Fears Deepen

Mayank Mehta, Arthi Gupta and Darlington Musarurwa
28 Apr, 2010
New York City

European stocks declined as Greek bond yields surge to record level and bonds of Portugal and Spain decline sharply. The euro dropped to one-year low against the dollar. Merck KGaA and Puma decline. Continental AG sees 2010 sales up as much as 10%. Rhodia SA swung to a quarterly profit.

Retail Sales Rise in Japan; Nikkei Drops 2.6%

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
28 Apr, 2010
New York City

Stocks in Japan dropped sharply after world markets declined. Rating downgrade of Greek and Portugal debt raised fears of wider contagion in the euro region. Japan Airlines accelerated route cuts and estimated loss in the year. March retail sales surged at the fastest pace in thirteen years.

Inflation in Australia on the Rise

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
28 Apr, 2010
New York City

The benchmark index in Australia declined 1.2% after world markets dropped. A downgrade of Greek and Portugal debt lifted bond yields to record high and the euro fell nearly 1%. Macarthur Coal third quarter sales surge 50%. In Sydney trading banks declined.

India Follows World Markets Decline

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
28 Apr, 2010
New York City

World market declines overshadowed positive earnings dragging market indexes and rupee lower. Bharti Airtel Ltd fourth quarter profit declined 8% on severe price competition. Canara Bank quarterly net profit gained declined 30%. LIC Housing Finance Limited quarterly net rose 36%.

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