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European Markets Flat; Reiffeisen Bank Net Up

Arjun Dave
26 May, 2011
New York City

European markets traded flat as commodities increased and crude oil hovered near $100 price. Talks of Greek default dominated trading sentiment. European automakers declined. Austria based Reiffeisen Bank reported a slight increase in quarterly earnings.

Sensex in India Advanced 1.1%; Tata Steel, Coal India Up on Earnings

Devan Biswas
26 May, 2011
New York City

Stocks in Mumbai trading closed higher after struggling for the last five days. Tata Steel swung to profit on higher sales and estimated higher global steel prices in the current year. Coal India gained after it reported higher than expected annual net. Dish TV India cut its net loss by 40%.

Nikkei in Tokyo Soars 1.5%; Canon Up 6%, Ricoh to Cut 10,000 Staff

Nigel Thomas
26 May, 2011
New York City

Stocks in Tokyo advanced tracking the gains in the U.S. markets in overnight trading. Canon Inc soared after it proposed to buy back 1.2% of its shares. Ricoh plans to eliminate 10,000 staff in the next three years.

Australian Index Soars 1.7%; GrainCorp Net Surges 66%

Marcus Jacob
26 May, 2011
New York City

Australian stocks rebounded after struggling for three days in a row as sentiment improved. In regional trading, Asian markets advanced after U.S. indexes and commodities prices regained their bearings. GrainCorp first half net soared 66% and guided higher annual net.

U.S. Stocks Rebound from 3-day Decline; Gold, Oil Rise

Bikram Pandey
25 May, 2011
New York City

U.S. stocks gained after falling for three days in a row as commodities and crude oil advanced. U.S. home prices decline. Spirit Airlines Inc cuts its public offering terms and size. In Europe, Greece

UK Home Loans Drop 18%; GDP Estimate Unrevised at 0.5%

Nigel Thomas
25 May, 2011
New York City

Stocks in London gained as miners and energy linked companies advanced. UK first quarter estimate was unrevised at 0.5%. Mortgage approvals dropped 18% from a year ago and average loan value declined 1.1%. Cupid soared nearly 20% after it made positive comments.

U.S. Movers: Bank of Montreal, Costco, Hormel Foods, Toll Brothers

Mukesh Buch
25 May, 2011
New York City

Bank of Montreal second quarter net income increased 7.5% to $800 million. Costco third quarter net income grew to $324 million. Hormel Foods second quarter net earnings surged 41% to $109.6 million. Toll Brothers second quarter net loss narrowed to $20.8 million.

U.S. Home Prices Fall 5.5%; Durable Goods Orders Drop 3.6%

Bikram Pandey
25 May, 2011
New York City

U.S. stocked traded sideways as commodities gained and the dollar edged higher. April durable goods orders declined 3.6% and home prices fell 5.5% in the first quarter. Costco Wholesale Corp and Ralph Lauren Corp declined on weaker than expected earnings.

European Slide, Banks, Miners Rise; Greece in Focus

Arjun Dave
25 May, 2011
New York City

European markets traded lower on the ongoing worries related to Greece Italy and Ireland. Greek opposition party leader rejected privatization plan. Banks and mining companies rebounded on bargain hunting. Automakers in Germany closed higher.

Sensex in Mumbai Drops 0.9%; Suzlon, Ashok Leyland Up

Devan Biswas
25 May, 2011
New York City

Stocks in Mumbai declined on the global worries and a rise in commodities prices and crude oil price. The rupee hovered near 2-month low. Banks, property developers and Suzlon Energy increased after it won orders for 200 turbines in Africa.

Stocks in Japan Decline on Weak Semi Equipment Makers, Realty Developers

Nigel Thomas
25 May, 2011
New York City

Stocks in Japan declined for the second day this week following the weakness in Asian markets. Semiconductor equipment makers closed lower after Applied Materials reported weaker than expected earnings. Real estate developers declined on negative comments from a broker.

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