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Market Update

U.S. Stocks Finish Higher; Commodities Slip

Bikram Pandey
19 May, 2011
New York City

U.S. stocks traded sideways as tech stocks displayed positive momentum. Investors questioned the surging valuation of the latest Internet public offering LinkedIn. Economic data suggested halting and slow recovering in manufacturing and home sales. Commodities fell and the dollar eased.

Eurpean Markets Advance; Richemont Misses Earnings

Nigel Thomas
19 May, 2011
New York City

European markets closed higher after commodities and resource linked stocks advanced. Glencore International closed up 2% on its first day of trading. Richemont declined after it reported lower than expected earnings. Pandora A/S plunged 15% after it increased prices of jewelry.

Japan in Recession with 0.9% GDP Fall; Utilities Stocks Decline

Nigel Thomas
19 May, 2011
New York City

Stocks in Japan declined after the economy shrank at 3.7% annual rate in the fourth quarter and fell for the second quarter in a row. The two quarters of decline in a row pushed the economy in recession. Renesas Electronics reported annual net loss in line with expectations.

Australian Stocks Rebound; Brambles Sales Rise, James Hardie Loss

Marcus Jacob
19 May, 2011
New York City

Stocks in Australia rebounded after commodities gained and the Australian dollar rebounded. Resource stocks led the recovery. Brambles increased after it reported nine-month sales increased 5% and reaffirmed full year outlook. James Hardie said operating net declined 12% excluding one-time charges.

U.S. Stocks Halt 3-day Fall; LinkedIn Sets IPO Price at $45

Bikram Pandey
18 May, 2011
New York City

U.S. stocks closed higher after losing for three days. LinkedIn finalized its public offering to raise $353 million and set its price of $45 a share. Glencore International Plc, the commodities trader is expected to price its offering 530 pence a share.

U.S. Movers: BJ

Mukesh Buch
18 May, 2011
New York City

Analog Devices first quarter net earnings increased to $241.8 million. BJ

Resources and Property Stocks Lift UK Indexes, Experian, Land Securities Up

Arjun Dave
18 May, 2011
New York City

UK stocks traded higher after commodities gained and real estate sector stocks advanced. Land Securities said pre-tax annual net rose 15%. Fashion apparel retailer FCUK said first quarter sales rose 3.6%.

U.S. Stocks Turn Lower; Target, Deere, Dell Earnings Rise

Bikram Pandey
18 May, 2011
New York City

U.S. stocks edged lower as weak sentiment affected trading. Commodities advanced and crude oil gained 2%. Target earnings gained 2.7% and Dell soared after earnings advanced. Deere & Co quarterly net rose 65%.

European Markets Decline, Spain Bad Loans Ratio Falls to 6.1%

Nigel Thomas
18 May, 2011
New York City

European markets traded sideways as resource linked stocks gained but banks were under pressure. European Union officials intensified campaign and said Greek default is not an offensive. Bank of Spain said bad loan ratio declined to 6.11% in March from 6.2% in February.

India Stocks Struggle; Bajaj Auto Bajaj Finserv Net Soar, RIL Falls

Devan Biswas
18 May, 2011
New York City

Stocks in Mumbai traded sideways as investors digested rising earnings from Bajaj Auto and Bajaj Finserv. However, market was unnerved after the State Bank of India reported 99% drop in earnings. Reliance Industries fell after a report indicated gas production may not increase for three more years.

Nikkei Jumps 1%; Renesas Denies Resumption Plans, Skymark Dives 15%

Nigel Thomas
18 May, 2011
New York City

The benchmark index in Tokyo jumped 1% after several news hinted at the recovering industrial climate and improving power condition in the central Japan industrial belt. Renesas Electronics may resume its production in June and reach full capacity by October but company sources deny the time table.

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%.