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Market Update

Euro Area Trade Gap Narrows; German Employment Rises

Arthi Gupta
15 Jul, 2011
New York City

Euro area trade gap narrowed in May after exports rose 1.5%. European new car registrations fell and Swedish home prices remained flat in June. German factory employment increased and Dutch trade surplus rose in May.

Nikkei Inches to 10,000; Yen Near 4-month High

Nigel Thomas
15 Jul, 2011
New York City

Stocks in Japan regained the upper end of the trading range of the last five weeks as the yen hovers near 4-month high. Electronics retailers jumped on the speculation that Japan may revive energy efficiency program as it faces severe power shortage this summer.

European Markets Rest Ahead of Bank Stress Test Data

Arthi Gupta
15 Jul, 2011
New York City

European indexes traded lower ahead of the European Banking Authority tests results later today. Italian Parliament to vote today on a

BHP Billiton Offers $15 Billion for Petrohawk; FBI Investigates News Corp

Marcus Jacob
15 Jul, 2011
New York City

Australian stocks closed lower. BHP Billiton agreed to acquire Petrohawk Energy for $12.1 billion and assume $3 billion in debt. Fortescue Metals production rose 6% in the quarter but costs surged 18%. News Corp woes deepened as lawmakers in the U.S. and UK deepen investigations.

U.S. Stocks Turn Lower, Republicans Feel Debt Talks Stress

Bikram Pandey
14 Jul, 2011
New York City

U.S. indexes retreated after Fed Chairman Ben Bernanke clarified no immediate plan of economic stimulus on the second day of his testimony. President Barack Obama and Republican lawmakers attempt last minute talks to avert government shutdown as August 2 deadline looms.

UK Indexes 1% Lower; Parliament Demands Murdoch Testimony

Arthi Gupta
14 Jul, 2011
New York City

The UK indexes traded lower on global economic concerns. The Irish Finance Minister Michael Noonan said that Ireland has successfully met the targets set out by the EU and the IMF. Irish annual inflation remained steady in June.

Infosys Technologies Q1 Earnings Call Transcript

123jump.com Staff
14 Jul, 2011
New York City

The Indian technology services company said revenue for the quarter grew 23% to $1.67 billion. On an IFRS basis, net quarterly income rose 18% to $384 million. Earnings per American depositary share rose to $0.67 from $0.57 in the prior-year quarter.

U.S. Jobless Claims Fall, Retail Sales Up; JPMorgan Net Rises 13%

Arthi Gupta
14 Jul, 2011
New York City

U.S. indexes edged higher after weekly jobless claims fell 22,000, retail sales rose 0.1% and producer prices slid 0.4% in June. U.S. business inventories rose more than estimated in May. JPMorgan net rose 13% on significantly lower provision for credit losses.

U.S. Movers: ConocoPhillips, Fairchild, JPMorgan, Nexen, Yum Brands

Mukesh Buch
14 Jul, 2011
New York City

ConocoPhillips plans to split its refining and energy exploration businesses. JPMorgan second quarter net increased 13% to $5.4 billion. Nexen second quarter net increased to $252 million. YUM! Brands second quarter net increased 10% to $316 million.

Greece Debt Deeper in Junk; Italian Bond Yield Rises to 4.93%

Arthi Gupta
14 Jul, 2011
New York City

European indexes traded lower after a rating agency downgraded Greece but Italy managed to sell 5-year bond sale at 4.93% yield. Euro-zone annual inflation was stable at 2.7% in June. Lafarge agreed to sell gypsum assets to Belgian Etex for

Euro-zone Inflation Stable at 2.7%; Hungary Industrial Output Rises

Arthi Gupta
14 Jul, 2011
New York City

Euro-zone inflation remained stable at 2.7% but Italian inflation rose in June. Dutch retail sales eased and Spanish leading index was flat in May. The economic growth forecast of Finland for fiscal year 2010 was revised up to 3.6%.

Japan Stocks Fall on U.S. Debt Worries; Yen Advances to 4-month High

Nigel Thomas
14 Jul, 2011
New York City

Stocks in Japan headed lower and the yen traded volatile after the U.S. debt was placed under a review at a rating agency. The yen rose to a 4-month high of 78.40 against one dollar. Shipping companies led the decliners after the freight rate index fell for the fourth day in a row.

News Corp Faces More Inquiries; Peabody Lifts Macarthur Bid

Marcus Jacob
14 Jul, 2011
New York City

Australian stocks closed lower but resources linked stocks advanced. News Corp was forced to drop its bid to acquire UK based BSkyB after lawmakers united against its bid. Peabody raised its bid for Macarthur and initiated the due diligence process.

U.S. Stocks Up After Bernanke Comments, China GDP Expansion

Bikram Pandey
13 Jul, 2011
New York City

U.S. stocks turned positive after market took a surprise note on the Fed

U.S. Movers: Adtran, Capital One, Kinetic, NovaGold

Mukesh Buch
13 Jul, 2011
New York City

Adtran second quarter net income rose. Capital One second quarter net income surged to $911 million. Kinetic Concepts acquired by consortium valued at $6.3 billion. Validus Holdings agreed to acquire Transatlantic for $55.95 a share.