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Market Update

Australian Stocks Up on China Imports Increase

Marcus Jacob
10 Jun, 2011
New York City

Australian indexes edged higher after the government released mining tax legislation. Market sentiment was buoyed after exports from China rose at a faster pace than anticipated. Origin Energy completed the sale of 500 million euros bonds.

European Indexes Lower; Samsonite IPO Raises $1.25 Billion

Arthi Gupta
10 Jun, 2011
New York City

The European indexes slid after Italy reported weak GDP growth and German inflation index declined. Samsonite raised $1.25 billion in Hong Kong IPO. Vivendi got the European Commission approval for acquiring Vodafone

German Inflation Falls to 2.3%; Italian GDP Growth Slows

Arthi Gupta
10 Jun, 2011
New York City

French manufacturing output improved in April but industrial production struggled. German wholesale price inflation eased for a second consecutive month in May. The GDP in Italy expanded at a slower pace of 1%. Swedish industrial output fell in April.

Higher Exports Drive U.S. Indexes Up After 6-day Decline

Bikram Pandey
09 Jun, 2011
New York City

U.S. indexes snapped six day losing streak and rebounded more than 0.6% after trade deficit narrowed 7%. The rise in exports supported market momentum. The central banks in Europe and UK left rates on hold. Commodities and oil closed higher.

U.S. Movers: Amerco, Greif, Pall, J. M. Smucker, Thor, Vail Resorts

Mukesh Buch
09 Jun, 2011
New York City

Greif second quarter net income increased to $51 million. Pall third quarter net earnings rose to $71 million. J. M. Smucker fourth quarter net income declined 21% to $94.9 million. Thor Industries third quarter net income rose 17% to $40 mn. Vail Resorts third quarter net income rose 6% to $76 mn.

UK Holds Rate at 0.5%; Home Retail Group Plunges 12.5%

Arthi Gupta
09 Jun, 2011
New York City

The UK indexes gained after the Bank of England left key rate and the size of quantitative easing for the 27th month in a row. The UK trade deficit narrowed in April. Irish consumer price inflation slackened in May. BMW planned additional investment of

U.S. Weekly Jobless Claims Rise; Trade Deficit Narrows

Arthi Gupta
09 Jun, 2011
New York City

U.S. indexes traded sideways after weekly jobless claims rose 1,000 to 427,000 and trade deficit unexpectedly narrowed in April. Exxon Mobil acquired natural gas assets for $1.69 billion.

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.