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European Markets Sideways, Russia Rates on Hold; SAP Up, TF1 Down

Bikram Pandey
25 Mar, 2011
New York City

European markets traded mixed as the EU leaders cut the startup capital for aid fund but set higher target for capital to 600 billion by June. Portugal political and economic crisis deepens and the nation faces a snap election as early as June. Russia holds key rate. SAP AG and L

German Demand Cuts EU Aid Fund, Portugal Crisis Advances

Arjun Dave
25 Mar, 2011
New York City

European leaders haggle to increase the bailout out fund size and Germany asked to limit contribution as the nation faces a regional election. Portugal slips into a deeper crisis as snap election looms as early as June.

Sensex Soars 2.3%; Infosys, TCS, Financial Tech Lead Gainers

Devan Biswas
25 Mar, 2011
New York City

The Sensex index in Mumbai trading soared 2.3% and for the week added 5.2%. The positive earnings outlook and improving sentiment in world markets emboldened investors. Software exporters led gainers after the industry sought tax relief. Financial Technologies plans to list its commodities exchange.

Foreigners Increase Net Purchase of Japanese Stocks; Nikkei Up 1.1%

Nigel Thomas
25 Mar, 2011
New York City

Stocks in Japan rebounded on Friday 1.1% and for the week 3.6% as foreign investors increase their net purchase to the record last seen seven years ago. Automakers plan to increase more output but remain quiet with the parts situation. The rebound lifted construction related stocks.

Australian Indexes Jump 1%, BHP Announced $13 Billion Expansion

Marcus Jacob
25 Mar, 2011
New York City

Stocks in Australia jumped 1% for the second day in a row as miners and resource companies led the gainers. BHP Billiton detailed $13 billion investment plan that will expand capacity of iron ore and energy coal operations. QR Nation plans to spend $185 million to expand its Goonyella network.

World, U.S. Markets in 6-day Rally; Record in Gold, Silver

Bikram Pandey
24 Mar, 2011
New York City

U.S. stocks edged higher after mixed economic data and positive earnings in tech sector lifted the sentiment. Portuguese crisis complicates EU bailout plan. Commodities rose and crude oil extended gains. Gold and silver traded at a new intra-day three-decade high.

U.S. Movers: Best Buy, GameStop, Paychex, Red Hat, Scholastic, Talbots

Mukesh Buch
24 Mar, 2011
New York City

Best Buy fourth quarter net earnings fell to $651 million. ConAgra third quarter net income fell 6.4% to $214.8 million. Paychex quarterly net income rose 17% to $130.6 million. Red Hat fourth quarter net income grew to $33.5 million. SAIC fourth quarter net income rose to $132 million.

UK Retail Sales Fall, Irish Economy Shrinks; Next Surges 5%

Arthi Gupta
24 Mar, 2011
New York City

The UK indexes gained and retail sales fell more than estimated in February. Irish economy contracted in the fourth quarter. Afren agreed to buy stake in Tanga Block from Petrodel. Kingfisher and Next soared after improved fiscal year 2010 performance.

Sensex 3-day Rally in India; Elevated Wholesale Inflation

Devan Biswas
24 Mar, 2011
New York City

Stocks in Mumbai traded higher for the third day despite the latest read on inflation showed an increase and crude oil price surged for the fifth week in a row. Investors are factoring higher earnings from banks, infrastructure and software exporters.

U.S. Jobless Claims Drop 5,000; Durable Orders Decline 0.9%

Arthi Gupta
24 Mar, 2011
New York City

U.S. indexes fell after weekly jobless claims fell 5,000 to 382,000 and durable goods orders declined more than estimated in February. Nordstrom purchased HauteLook for $180 million. Walgreen agreed to acquire drugstore.com for about $409 million.

Portugal Crisis Deepens; EU Discusses Bailout Mechanism

Arthi Gupta
24 Mar, 2011
New York City

The European indexes soared as investors focused on economic recovery and European leaders meet for a two-day summit. Portuguese prime minister resigned and the prospect for international bailout increased. Spanish banks struggle to recapitalize. Swiss Re increased annual dividend.

Narrow Trading in Tokyo; Auto Parts Makers Drop, Tepco Plunges 16%

Nigel Thomas
24 Mar, 2011
New York City

Tokyo stocks traded in a narrow range and investors focused on the efforts at restoring power at the troubled nuclear power plant. Tokyo Electric plunged 16% after it halted its second half dividend. Automaker declined on the worries that parts shortage may persist more than a month.

German Construction Orders Rise 8.6%; Dutch GDP Expands 2.5%

Arthi Gupta
24 Mar, 2011
New York City

Euro area consumer confidence dipped in March. French manufacturers'' confidence improved in March and German construction orders increased in January. Dutch GDP growth in the fourth quarter was revised higher to 2.5% from the previous estimate of 2.4% and 1.8% increase in the third quarter.

Resource Rally Lifts Australian Stocks; Caltex Drops 5%

Marcus Jacob
24 Mar, 2011
New York City

Australian stocks rebounded 1% after investors focused on the metal demand as Japan looks reconstruct. Caltex dropped 5% after it reported sharply lower refining margins from a year ago. Australian government agreed with most of the recommendations of an independent group on new mining tax.

World Markets Retain Positive Bias; Portugal Rejects Deficit Plan

Bikram Pandey
23 Mar, 2011
New York City

U.S. stocks closed higher as new home sales rate dropped to record low in February. The euro was in focus after Portugal rejected the austerity measure and increased the chances of EU bailout. Japan assured that radiation leak does not pose health threat and Tokyo warned infants to avoid tap water.

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