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Australian GDP Shrinks 1.2% on Weather; Fortescue Chief Resigns

Marcus Jacob
01 Jun, 2011
New York City

Devastating weather dragged the economy in the first quarter. The GDP shrank 1.2%, first decline since the fourth quarter of 2008 and exports plunged 8.7%, the largest fall in 37 years. The dollar gained. Fortescue Metals chief executive Andrew Forrest resigned.

European Indexes Lower; Schneider Offers $2 Billion for Telvent

Arthi Gupta
01 Jun, 2011
New York City

European indexes slid after manufacturing growth in China slowed. Greece remained in focus. France-based Schneider Electric agreed to acquire Telvent for $2 billion. Intact Financial offered C$2.6 billion for AXA Canada. Lenovo agreed to buy Germany''s Medion for

Euro Area Manufacturing Growth Falls; French Unemployment Falls

Arthi Gupta
01 Jun, 2011
New York City

Manufacturing sector growth declined in the euro area with the growth in Germany slumping to a seven-month low in May. Swiss retail turnover growth accelerated in April. French unemployment fell in the first quarter.

U.S. Stocks Retain Momentum Despite Weak Economic Data

Bikram Pandey
31 May, 2011
New York City

U.S. stocks closed higher on positive sentiment in Europe. Latest economic data suggest weak housing market and uneven economic recovery. Europe and Greece make a progress in finalizing bailout terms. Nokia plunged on earnings and sales warnings. Manufacturing outlook improves in Japan.

UK Indexes Up 0.8%; Serco Offers Intelenet

Arthi Gupta
31 May, 2011
New York City

The UK indexes rose on optimism of a resolution to Greece

U.S. Movers: Ashland, FuelCell, Nokia, Bank of Nova Scotia, Wal-Mart

Mukesh Buch
31 May, 2011
New York City

Ashland agreed to acquire privately owned International Specialty Products for $3.2 billion in cash. Nokia lowered its second quarter and full year 2011 outlook. Bank of Nova Scotia second quarter net income surged to $1.46 billion. Wal-Mart win merger proposal of Massmart.

U.S. Home Prices, Confidence Drop; Nokia Drops 16%

Bikram Pandey
31 May, 2011
New York City

U.S. stocks traded higher after metropolitan cities home price index declined in March. Chicago area manufacturing decelerated at the fastest pace in nearly thirty months and U.S. consumer confidence index declined. Nokia plunged 16% after it estimate weak quarterly results.

European Markets Rally 2%; Greece to Focus on Austerity, Privatization Plans

Arjun Dave
31 May, 2011
New York City

European markets traded higher after investors turned positive on Greek developments. The IMF and the EU regulators are expected to reach a deal with Greek government to push through austerity measures and privatization plan. Banks in Germany and France advanced.

Nikkei in Tokyo Soars 2% on Manufacturing Oulook

Nigel Thomas
31 May, 2011
New York City

Stock in Japan surged after a survey of manufacturers indicated production to increase to pre-quake level in June. The news lifted the benchmark index 2% and industrial companies led the advance. Euro-zone linked stocks also rose after Greek debt worries eased.

Australian Home Approvals Fall 1.3%; SunRice Rejects Ebro Deal

Marcus Jacob
31 May, 2011
New York City

Australian benchmark index added 0.9% and current account deficit in the fourth quarter increased to $10.4 billion and home construction approval in April declined 1.3%. SunRice Group shareholders rejected merger proposal with Spain based Ebro Foods.

European Markets Positive, Italy Sells

Arjun Dave
30 May, 2011
New York City

European markets overlooked the ongoing Greek debt worries and focused on valuations and earnings. Italy completed the sale of 8.3 billion euros and Spain is set sell bonds on June 2. Greece confirmed its plan to complete austerity measures despite the opposition from other ruling parties.

Sensex in India Drifts; Unitech, GSFC, NMDC Up

Devan Biswas
30 May, 2011
New York City

Stocks in Mumbai traded lower in weak trading volume. Asian markets generally edged lower in weak trading. The rupee edged lower and traded near 2-month low. Reliance Infra annual net increased 2% and GSFC quarterly net soared. Unitech increased after it guided current year sales to increase 16%.

Stocks in Tokyo Decline as Trading Volume Drops to New Low

Nigel Thomas
30 May, 2011
New York City

Stocks in Japan declined and trading volume dropped to the lowers for the year. The stronger yen dragged exporters lower. Honda Motor delayed its stock purchase plan and Pacific Metals lowered its current year net outlook.

Australian Stocks, Dollar Edge Lower; Suncorp Loss

Marcus Jacob
30 May, 2011
New York City

Australian stocks edged lower as resources stocks led the decliners. Four leading banks closed lower and the Australian dollar closed lower. Suncorp edged lower and the insurance company guided higher margins.

U.S. Stocks Turn Positive on G-8 Debt Talk; Metals Up

Bikram Pandey
27 May, 2011
New York City

U.S. stocks advanced and world markets edged higher for the second week in a row. The dollar declined against the euro by 0.7% in the week and crude oil, copper and gold gained. G-8 leaders indicated global economic recovery is broadening and said nations will work to lower debt burden.

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