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Slower Wage Growth Drags Australian Stocks; Tully Sugar in Focus

Marcus Jacob
18 May, 2011
New York City

The Australian benchmark index gained as the first quarter wages increased 0.8% from the previous quarter and gained 3.8% from a year ago. Graincorp soared 5% on takeover talks and Tully Sugar shareholders approved the change that will facilitate the takeover.

U.S. Stocks Extend Losses Third Day; Gold Declines

Bikram Pandey
17 May, 2011
New York City

U.S. stocks traded lower after weak housing starts data and extended losses for the third day. Oil fell below $98 a barrel and gold dropped as much as $11. Retail stocks were in focus after Wal-Mart, Saks and TJX reported earnings. European and Asian markets were on the defensive.

U.S. Movers: Hewlett-Packard, Saks, Home Depot, TJX, Wal-Mart

Mukesh Buch
17 May, 2011
New York City

Hewlett-Packard second quarter net earnings increased 5% to $2.3 billion. Saks first quarter net income grew 3% to $28.4 million. Home Depot first quarter net income soared 12% to $812 million. TJX first quarter net income plunged to $265.9 mn. Wal-Mart first quarter net income grew 3% to $3.4 bn.

UK Inflation Surges to 30-month High; Vodafone Net Falls 8%

Nigel Thomas
17 May, 2011
New York City

UK stocks turned lower after inflation surged to highest last seen in October. The Bank of England Governor Mervyn King blamed the recent pick up in inflation on higher taxes and energy prices. Vodafone Plc said annul net declined 7.8%.

U.S. Indexes Lower on Weak Housing Starts; HP Falls 8%

Bikram Pandey
17 May, 2011
New York City

U.S. stocks traded lower after housing starts in April declined 10.6% and industrial production was weaker than expected. Wal-Mart Stores Inc said same store sales at its U.S. locations declined 1.1%, eight quarterly fall in a row. Hewlett Packard lowered its annual outlook.

European Markets Weak, German Index Drops 1.4%; OMV

Arjun Dave
17 May, 2011
New York City

European markets traded sideways but the index in Germany dropped more than 1.4% after economic sentiment index declined for the third month in a row and dropped to near 10% of its average. French conglomerate Bouygues SA quarterly net plunged 81%. OMV AG announced

Sensex Drops 1.1%; State Bank of India Net Plunges 99%

Devan Biswas
17 May, 2011
New York City

Stocks in Mumbai declined after State Bank of India earnings plunged on a sharp rise in non-performing loans. The Sensex index dropped 1.1%. ONGC and other government controlled oil marketing companies declined after the government lowered subsidies to energy companies.

Tokyo Utilities and Banks Fall on Tepco Debt Plan

Nigel Thomas
17 May, 2011
New York City

Stocks in Tokyo were flat but banks and utilities declined for the third day in a row. Finance Minister Yoshihiko Noda sent a clear signal to the market and urged creditors to work with Tepco to lower debt and facilitate the compensation to victims.

Tech Stocks Lead U.S. Market Decline; Oil Drops 2.5%

Bikram Pandey
16 May, 2011
New York City

U.S. stocks struggled after commodities declined and the euro rebounded. European finance ministers finalized the bailout conditions for Portugal and urged Greece to expedite its privatization program before additional funding. Crude oil declined 2.5% and commodities swing.

Australian Stocks Higher; James Hardie Cuts Debt

Marcus Jacob
17 May, 2011
New York City

Australian stocks struggled as commodities traded lower and global economic growth worries resurfaced. Reserve Bank of Australia left its tightening bias in the latest meeting but showed no urgency. James Hardie to reinstate its dividend and lowered its debt.

UK Stocks Defensive, Miners Rebound; BP, Shell Down

Nigel Thomas
16 May, 2011
New York City

UK stocks edged lower on global economic worries following a weakness in European markets. Miners closed higher on a slight rebound in base metal prices but energy linked companies declined on a weakness in crude oil prices.

U.S. Movers: J. C. Penney, Lowe

Mukesh Buch
16 May, 2011
New York City

Elbit Systems first quarter net income plunged to $27.9 million. J. C. Penney first quarter net income rose 7% to $64 million. Lowe

U.S. Stocks Struggle, Nasdaq Drops NYSE Bid

Bikram Pandey
16 May, 2011
New York City

U.S. stocks traded sideways as commodities declined. Monday merger news included the sale of struggling publisher Primedia Inc for $525 million, SanDisk agreement to acquire Pliant Technology and Nasdaq and ICE dropping their bid for NYSE Euronext.

European Automakers, Banks Decline; Greece, Portgual in Focus

Arjun Dave
16 May, 2011
New York City

European markets traded lower as finance ministers gather to discuss Portugal bailout conditions. Investors were nervous about the fate of additional financing for Greece. The euro edged higher but commodities declined. Inflation in the euro-zone increased to 2.8% and preliminary trade deficit rose.

Sensex in India Drops 1%; Retail Petrol Price Hiked

Devan Biswas
16 May, 2011
New York City

Stocks in Mumbai declined on global economic growth worries ahead of European leaders meeting to provide another bailout to Greece. Commodities prices closed lower but India controlled oil companies lifted retail petrol prices.

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