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U.S. Stocks Struggle After Housing Starts Drop 22.5%

Arthi Gupta
16 Mar, 2011
New York City

U.S. indexes struggle on a persistent radiation leak concerns in Japan and resurfacing of sovereign debt worries in Europe. U.S. housing starts in February were the lowest in 27 years and building permits dropped to their lowest on record set in April 2009.

Debt Worries Resurface in Europe; Wacker Chemie Swings to Profit

Arthi Gupta
16 Mar, 2011
New York City

Investors refocused on the rising debt yields in peripheral nations and mounting tensions in the Middle East and North Africa. Portugal completed 1 billion euros bonds sale at a higher yield of 4.33%. Wacker Chemie returned to profit.

Euro Inflation 2.4%, Iceland Holds Rate; EU Car Registration Rises 0.9%

Arthi Gupta
16 Mar, 2011
New York City

Inflation in most of the euro nations climbed in February and Belgian trade deficit narrowed in January. Czech retail sales surged in January. Iceland retained key rate at 4.25%. Swiss investor confidence improved in March. New car registration in the EU increased 0.9% in February.

Sensex Rises 1.3% on Higher Corporate Advance Tax Payment

Devan Biswas
16 Mar, 2011
New York City

Stocks in Mumbai closed higher following gains in Asian markets and a rebound in sentiment ahead of the rate decision tomorrow. The ten largest companies by market cap paid 25% more advance tax for the current quarter.

Nikkei Rebounds 5.7% in Cautious Trading; Tokyo Electric Power Drops 24%

Nigel Thomas
16 Mar, 2011
New York City

Tokyo stocks rebounded 6% after investors took a calmer view and worries of a nuclear radiation leak receded at least for now. The gains were trimmed after another strong aftershock in Chiba Prefecture and a talk of another fire at the troubled nuclear power plant. Tokyo Electric dropped 24%.

Australian Stocks Break 5-day Losing Streak

Marcus Jacob
16 Mar, 2011
New York City

Australian stocks in a roller coaster ride closed up tracking the gains in Tokyo markets. Crude oil eased by energy and resource stocks in Sydney rebounded led by the uranium miners. Billabong lowered its earnings outlook and Gindablie Metals revised Western Australia mine project cost 30% higher.

U.S. Indexes Trim Losses After Fed Holds Rates

Bikram Pandey
15 Mar, 2011
New York City

U.S. indexes extended losses following a global selloff after the benchmark index in Tokyo suffered its worst one day loss in 24 years. Rising tensions in Saudi Arabia and ongoing violence in Libya also added to market jitters. Crude oil and gold declined. Fed left rates on hold.

U.S. Movers: Broadwind Energy, DSW, Hitachi, Williams-Sonoma

Mukesh Buch
15 Mar, 2011
New York City

ATP Oil & Gas fourth quarter net loss widened. DSW fourth quarter net income rose to $18.4 million. FactSet Research second quarter net soared 25.3% to $45.2 million. Hitachi reported buildings and production facilities suffered damages. Williams-Sonoma quarterly earnings rose 28.3% to $113.40 mn.

Sensex in India Drops 1.3%; India Needs to Explain Nuclear Treaty Details

Devan Biswas
15 Mar, 2011
New York City

Stocks in Mumbai plunged more 2.7% at the opening but recovered to close down 1.3% after a panic selling in Japan sparked a selloff in Asia. Indian government needs to shed more light on its recently signed treaty with nuclear power plant makers on the safeguard provisions and liability assignments.

FTSE Declines 2.3%; Close Brothers Net Slumps

Arthi Gupta
15 Mar, 2011
New York City

The UK indexes slid after reports of radiation leakage from Japanese nuclear plants dragged commodities stocks. The UK leading index rose and home prices eased in January. Serco Group agreed to buy The Listening Company.

Dow Declines 2% as World Markets Slide on Japan Supply Chain Fears

Arthi Gupta
15 Mar, 2011
New York City

U.S. indexes extended losses on increasing concerns of a nuclear radiation leak reaching a wider Japan after the third explosion at a nuclear power plant. U.S. import prices rose in February and Nasdaq and ICE launch a bid for the NYSE Euronext.

European Indexes Plunge; Germany Shuts Down 7 Nuclear Plants

Arthi Gupta
15 Mar, 2011
New York City

Markets in Germany plunged 5% at the opening and in Europe dropped more than 3% after Japan suffered its second worst one-day decline in 24 years. The IMF approved

Euro Area Employment Rises; German Investor Confidence Deteriorates

Arthi Gupta
15 Mar, 2011
New York City

Euro area employment rose and Spanish home prices eased in the fourth quarter. German investor confidence deteriorated in March. French inflation slowed in February. Dutch retail sales and industrial production rose in January.

Nikkei in Tokyo Plunges 10.6%; Asian Markets Follow

Nigel Thomas
15 Mar, 2011
New York City

Tokyo suffered its second worst decline in stock market in 24 years as panicked investors sold stocks in the early morning after a third blast at the troubled nuclear power plant. The benchmark index plunged 14% before recovering to close down 10.6%. Toyota suspended at all 12 plants in Japan.

Australian Index Drops 2.1%; Origin Energy Raises $2.3 Billion

Marcus Jacob
15 Mar, 2011
New York City

Stocks in Australia plunged in a regional sell off after Japan faced multiple crises. Prime Minister Kan warned of high level of radiation from a nuclear power plant and set off a panic that saw Nikkei index dropped to its second worst one-day loss of 14%.

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