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Market Update

India's Auto Sales Drop to 2-year Low; Stubborn Inflation

Devan Biswas
09 Jun, 2011
New York City

Stocks in Mumbai declined ahead of factory output data tomorrow. The latest inflation data showed an increase in food prices and wholesale prices rose 0.5%. Automakers declined after May unit sales rose at the slowest pace in two years.

European Indexes Brave Greek Worries; Schneider in

Arthi Gupta
09 Jun, 2011
New York City

The European indexes traded higher ahead of the interest rate decision from the European Central Bank. Schneider Electric agreed to acquire China-based Leader & Harvest for $650 million. Stolt-Nielsen completed NOK 1.6 billion 5-year bond issue.

Retailers Gain in Tokyo; Tepco in Wild Swings

Nigel Thomas
09 Jun, 2011
New York City

Stocks in Japan gained for the third day in a row. Tepco traded at a new low on a massive trading volume that only highlighted market jitters. Trading in Tepco accounted for nearly one third of all trading on the Tokyo Stock Exchange. Retailers led the gainers.

Australian Unemployment at 4.9%; Qantas, AA in a Joint Venture

Marcus Jacob
09 Jun, 2011
New York City

Australian stocks gained and the dollar declined after the release of the May employment data. The Australian economy created 7,800 net new jobs in May and unemployment hovered at 4.9% for the third month in a row. Qantas won a preliminary approval for its joint venture with American Airlines.

French Business Confidence Weakens; Portugal

Arthi Gupta
09 Jun, 2011
New York City

French non-farm payrolls rose and German labor costs increased in the first quarter. The GDP in many nations in the euro-zone expanded in the first quarter. Greek economic growth in the first quarter was revised lower to 0.2%.

U.S. Stocks in 6-day Decline; Visa, MasterCard Down, Oil Up

Bikram Pandey
08 Jun, 2011
New York City

The U.S. indexes declined for the sixth day in a row as economic worries gain momentum. The latest regional survey from the Fed indicated slow economic recovery across the nation. Crude oil declined after the OPEC left production quota unchanged. Visa and MasterCard fell.

U.S. Movers: ABM Industries, Ciena, Layne, Ryder, Verint

Mukesh Buch
08 Jun, 2011
New York City

ABM Industries second quarter net income surged 65%. Ciena second quarter net loss narrowed. Layne swung to quarterly profit. Ryder System acquired England based Hill Hire plc. Verint Systems quarterly net loss narrowed.

UK Job Growth Slows; Shop Price Inflation Eases

Arthi Gupta
08 Jun, 2011
New York City

The UK indexes fell after reports of rating downgrade. The UK job growth slowed and shop price inflation eased in May. Punch Taverns surged 7.2% after the company said it is on track to meet full-year expectations.

U.S. Indexes Lower; Avaya Plans $1 Billion IPO

Arthi Gupta
08 Jun, 2011
New York City

The U.S. indexes traded lower ahead of the release of regional economy survey from the Fed. The World Bank forecasted slowdown in growth in developing economies. U.S. consumer credit rose more than estimated in April and mortgage applications declined. Avaya planned to file for $1 billion IPO.

Nikkei in Tokyo Up 0.1%; Nintendo Falls 6%

Nigel Thomas
08 Jun, 2011
New York City

Stocks in Tokyo edged higher as the yen strengthened. Utilities stocks declined on the worries that regulatory oversight may delay restart of 54 nuclear plants after inspection scheduled in spring. Nintendo dropped 6% on heavy volume.

Australian Stocks at 3-month Lows; Stockland, Westfield in Focus

Marcus Jacob
08 Jun, 2011
New York City

Australian stocks declined for the third day this week and extended losses in the fourth week in a row. The dollar edged lower and commodities prices generally closed down. David Jones and JB Hi-Fi fell to two year lows. Stockland and Westfiled put properties for sale.

European Indexes Fall 1%; AXA and Citi in $1.7 Billion Deal

Arthi Gupta
08 Jun, 2011
New York City

The European indexes edged lower after comments from the U.S. Fed Chairman Ben Bernanke yesterday. AXA Private Equity agreed to acquire $1.7 billion buyout fund assets from Citigroup. Total sold Gassled stake to Silex Gas Norway for NOK 4.64 billion.

Greece Jobless Rate Soars to 16.2%; German Trade Surplus Fell

Arthi Gupta
08 Jun, 2011
New York City

Euro area economy expanded 0.8% and Iceland''s economy rebounded 2% in the first quarter. Germany trade surplus fell and French trade deficit widened in April. Greek unemployment surged to 16.2%. Romanian industrial production slackened in April.

U.S. Stocks in 5-day Losses; Treasury Sells $32 Billion Debt

Bikram Pandey
07 Jun, 2011
New York City

U.S. stocks declined for the fifth day in a row and U.S. Treasury completed the sale of $32 billion of 3-year notes. Stocks pared early gains after Fed chairman estimated economic recovery in the second half. In Europe, retail sales increased and Germany indicated higher orders in April.

U.S. Movers: G-III, Navistar, Pep Boys, Temple-Inland

Mukesh Buch
07 Jun, 2011
New York City

Booz Allen fourth quarter net more than tripled. G-III Apparel said quarterly net loss of narrowed. Navistar second quarter net income increased to $74 million. Talbots swung to quarterly profit. Temple-Inland rejects unsolicited takeover proposal from International Paper.