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Market Update

European Indexes Higher; Ahold Sales Up 5.9%

Arthi Gupta
07 Jun, 2011
New York City

The European indexes edged higher after ratings agency revised its outlook on Hungary to stable from negative. VimpelCom acquired 90% of New Telephone Company. Finland-based Metso agreed to buy technology of Swiss Holzmag GmbH. Ahold quarterly profit rose 6.2% boosted by sales and margins.

Australia Holds Rate at 4.75%; Metcash Net Up 6%

Marcus Jacob
07 Jun, 2011
New York City

Australian stocks declined for the sixth day and extended losses in the fourth week. The Reserve Bank of Australia left key rate at 4.75% and guided higher inflation in the next one year. Metcash annual net increased 6.1% but indicated a cautious outlook.

Euro Area Retail Sales Improve; German Factory Orders Rise

Arthi Gupta
07 Jun, 2011
New York City

Euro area retail sales improved in April and German factory orders rose in April and service sector employment growth slackened in the first quarter. Norwegian jobless rate declined and Swiss inflation increased in May. Hungarian industrial production slowed in April.

U.S. Stocks in 4-day Losses; Global Selloff in Banks, Tech Stocks

Bikram Pandey
06 Jun, 2011
New York City

U.S. indexes extended losses for the fourth day in a row as banks and tech stocks led the decliners. U.S. stocks have been on the decline for the five weeks in a row as tech stocks weaken. For the year S&P 500 index is up 3%. Airlines fell after the industry group lowered the annual profit estimate.

UK Manufacturing Expands; Melrose in $590 M Deal

Arthi Gupta
06 Jun, 2011
New York City

The UK indexes fell after manufacturing expanded in the second quarter boosted by overseas demand. Aegis confirmed talks with France-based Ipsos over sale of Synovate. SABMiller subsidiary agreed to sell stake in Kenya Breweries for $225 million. Melrose disposed Dynacast division for $590 million.

U.S. Indexes Trade Sideways; IATA Lowers Industry Profit Estimate

Arthi Gupta
06 Jun, 2011
New York City

The U.S. indexes traded sideways after disappointing economic jobs data. The International Air Transport Association slashed airline industry current year profit forecast to $4 billion from $8 billion in March. LaSalle Hotel Properties agreed to acquire Park Central Hotel for $405.5 million.

Nikkei in Tokyo Down 1.2%, Tepco Plunges 27%, Banks Fall

Nigel Thomas
06 Jun, 2011
New York City

Stocks in Japan plunged on the ongoing worries related to the Tokyo Electric Power and rising bills of power generations for utility companies. The weak U.S. jobs data also dampened the sentiment. Banks closed lower on the worries that capital new international requirements may lift capital needs.

Portugal Election Hovers European Market Sentiment

Arthi Gupta
06 Jun, 2011
New York City

The European indexes traded lower after Portugal ruling party lost the general election. Greece set to receive next tranche of the

5-day Decline in Australian Stocks; Tabcorp, Iluka in Focus

Marcus Jacob
06 Jun, 2011
New York City

Australian indexes closed lower for the fifth day in a row and dropped three weeks in a row by 9%. Trading volume declined for the fifth day in a row. Job advertisements in Australia declined 6.5% in May. Iluka Resources gained after indicating price increase between 40% and 75% in the second half.

Euro Area PPI Eases; IMF Grants $225 Million in Aid to Iceland

Arthi Gupta
06 Jun, 2011
New York City

The IMF granted $225 million aid to Iceland. Euro area investor confidence weakened in June and producer price inflation eased in April. Spanish industrial production declined and Czech industrial production slowed in April. Net wages in Romania rose in April.

U.S. Markets Turn Down on Jobs Report; Active Global Deal Making

Bikram Pandey
03 Jun, 2011
New York City

U.S. stocks fell after payrolls increase in May lagged. The private sector additions were in the service sector. Deal making remains active despite weakening economic backdrop. Walgreens buys drugstore.com, Groupon files to raise $750 million and Samsonite looks for investors in Hong Kong.

UK Construction Orders Slump; Service Sector Growth Slows

Arthi Gupta
03 Jun, 2011
New York City

The UK indexes traded flat after construction orders slumped in the first quarter and service sector growth slowed in May. Ireland services sector activity improved In May. WPP acquired a 70% stake in Brazilian digital agency Gr

U.S. Movers: Blyth, Cascade, Quiksilver, UTi, VeriFone

Mukesh Buch
03 Jun, 2011
New York City

Blyth reported first quarter net loss of $3.0 million. Cascade first quarter net income surged 190% to $16.4 million. Quiksilver reported second quarter net loss of $83.3 million. SAIC first quarter net income rose to $131 million. VeriFone second quarter net income soared 24.6% to $25.2 million.

U.S. Adds 54,000 Jobs in May; Service Sector Activity Rises

Arthi Gupta
03 Jun, 2011
New York City

The U.S. indexes declined after non-farm payrolls increased in May at the slowest pace in eight months. U.S. warned of possible debt rating downgrade. Walgreens agreed to acquire drugstore.com for $409 million.

European Indexes Mixed; Fiat Lifts Chrysler Stake

Arthi Gupta
03 Jun, 2011
New York City

The European indexes traded sideways on Greek debt worries. U.S. Treasury proposed to sell Chrysler stake to Fiat for $560 million. Samsonite planned to raise $1.5 billion in a Hong Kong IPO.