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Euro Area Sentiment Dips; Spanish Inflation 3.6%, Retail Sales Drop 4.8%

Arthi Gupta
30 Mar, 2011
New York City

Euro-zone economic sentiment dipped in March. Dutch factory price inflation accelerated in February. The Bank of Spain forecasted 0.8% GDP growth in 2011. Spanish retail sales fell in February. Portuguese retail sales decreased and factory output rose in February.

Sensex Adds 0.8% to 7-day Rally, Silver Shines

Devan Biswas
30 Mar, 2011
New York City

Mumbai stocks surged for the seventh day in a row after foreign investors increased net stock purchase in the last one week and crude oil price eased. Silver hit another high and gold near recent highs. Reliance Industries won two oil exploration blocks and ONGC won ten.

Nikkei in Tokyo Surges 2.6% on Production Resumption Progress

Nigel Thomas
30 Mar, 2011
New York City

The benchmark index in Tokyo soared 2.6% after the yen declined and more companies make a progress in resuming production. Hitachi, Nissan and IHI were among the leading companies that resumed partial operations. Tepco dropped another 18%.

Australian Index Gains 1.4%; BHP Resumes Gulf of Mexico Drilling

Marcus Jacob
30 Mar, 2011
New York City

The Australian benchmark index increased 1.4% on the back of a rise in commodities prices. BHP Billiton resumed drilling operations in the Gulf of Mexico and Rio Tinto struggles with Riversdale acquisition.

GE to Acquire France Based Converteam for $3.2 Billion

Mukesh Buch
29 Mar, 2011
New York City

General Electric agreed to acquire 90% of Converteam based in France for $3.2 billion. The deal strengthens the company position in the alternative energy field.

U.S. Consumer Confidence Dips; European Debt Worries

Bikram Pandey
29 Mar, 2011
New York City

U.S stocks gained after the release of consumer confidence and metropolitan residential price indexes. The home prices declined 3.1% in January from a year ago and consumer confidence dipped to a 3-month low. GE agreed to acquire France based Converteam for $3.2 billion.

U.S. Movers: Apollo Group, Lennar, McCormick, Phillips-Van Heusen

Mukesh Buch
29 Mar, 2011
New York City

Apollo Group reported second quarter net loss of $64.0 million. Lennar first quarter net income increased to $27.4 million. McCormick first quarter net income rose to $76.8 million. Phillips-Van Heusen fourth quarter net income increased to $52.2 million.

UK GDP Revised Higher, Real Income Falls; CPP, Thomas Cook Drop

Marcus Jacob
29 Mar, 2011
New York City

UK GDP in the fourth quarter was revised higher to a shrink of 0.5% compared to previous estimate of 0.6% decline. 2010 economic growth was unrevised at 1.5%. Household spending declined 0.3% in real terms in last quarter of 2010 and for the year declined the most in 33 years.

U.S. Stocks Lackluster; BP, Apollo Group in Focus

Bikram Pandey
29 Mar, 2011
New York City

U.S. stocks traded sideways and crude oil eased for the third day in a row. Residential prices index in metropolitan areas declined in January 3.1% from a year ago led by 9.1% drop in Phoenix. Apollo Group dropped as much as 10% after it estimated lower than expected annual revenues.

European Markets Slide; Italian Banks Fall

Nigel Thomas
29 Mar, 2011
New York City

European markets drifted lower in the early trading and indexes in Germany and France dropped more than 0.6% but trimmed the losses in the afternoon. Italian banks dropped after UBI Banca planned 1 billion euros of capital addition ahead of the European stress test.

Sensex in 6-day Rally Surges 6%; Hero Honda Wins Investment Approval

Devan Biswas
29 Mar, 2011
New York City

Stocks in Mumbai traded higher for the sixth day in a row after crude oil prices eased. The index has soared 6% since the low on March 21. Hero Honda won a government approval for foreign investment. Punjab National Bank and Corporation Bank sold stocks to the government of India at a premium.

Nikkei Down on Tepco Delisting Worries; Radiation Fears at Fukushima

Nigel Thomas
29 Mar, 2011
New York City

Stocks in Tokyo opened sharply lower on lingering radiation leak worries. Tepco said higher level of toxic plutonium was found at the troubled nuclear power plant. Government denied the speculation that Tepco is likely to be nationalized but the stock of the utility dropped 18% to record low.

Rio Tinto Extends Riversdale Offer; JB Hi-Fi to Buy Back 10% Stock

Marcus Jacob
29 Mar, 2011
New York City

Fractional gains in commodities prices lifted Australian index. Rio Tinto extended its Riversdale Mining offer for the fourth time and said it acquired consent of 41.04%. The extended offer also increased the offer price to A$16.50 a share.

U.S. Movers: Cal-Maine, Eastman Kodak, GSI Commerce, Wabtec

Mukesh Buch
28 Mar, 2011
New York City

American Express released its online payment gateway. eBay agreed to acquire GSI Commerce for $2.4 billion. Rural-Metro agreed to take company private for $438 million. Wabtec Corporation soared as much as 10% after it forecast higher first quarter earnings per share.

U.S. Stocks Gain; Eastman Kodak, Rural-Metro Soar

Bikram Pandey
28 Mar, 2011
New York City

U.S. stocks traded higher after personal income increased 0.3% and disposable personal income increased 0.3% in February. Markets in Europe traded lackluster and German ruling coalition lost two regional elections. Eastman Kodak soared on a patent ruling case.

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