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UK Retail Sales Drop 2.1%; Home Prices Struggle

Arthi Gupta
07 Jun, 2011
New York City

The UK indexes climbed after retail sales fell and home price rose in May. Irish property prices declined in April. BP plc may sell some of its 50% stake in TNK-BP joint venture to Russia based Rosneft.

U.S. Indexes Gain; Temple-Inland Rejects Takeover Bid

Arthi Gupta
07 Jun, 2011
New York City

U.S. indexes gained ahead of Fed Reserve Chairman Bernanke''s speech. The Food and Agriculture Organization forecasted high food prices for this year and next. NBCUniversal agreed to buy Blackstone''s stake in Universal Orlando for $1.03 billion. Temple-Inland rejected bid from International Paper.

Stocks in India Close Higher; Infosys Up, Automakers Down

Devan Biswas
07 Jun, 2011
New York City

Stocks in Mumbai traded sideways but on a rising volume. Software services exporters closed higher on new order wins and automakers closed lower ahead of expected natural gas price increase as early as tomorrow. The rupee held firm.

Nikkei in Tokyo Rebounds 0.7%; Toyota Up, Tepco Down

Nigel Thomas
07 Jun, 2011
New York City

The Nikkei benchmark index rebounded on the valuation discount but broader market traded in a tight range. Utilities and banks closed lower on the uncertainty related to Tokyo Electric Power. Automakers closed higher after Toyota scheduled earnings outlook conference on June 10.

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.

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