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FTSE Soars 1.7%, Legal & General Net Down, Premier Farnell Net Up

Arthi Gupta
17 Mar, 2011
New York City

The UK indexes rebounded ahead of the Group of Seven finance ministers meeting. UK inflation estimated to rise to the highest level since August 2008. The OECD forecasted subdued economic growth for UK in 2011. Legal & General fiscal year 2010 revenue and net declined.

VimpelCom Wins Shareholder Approval for $6 Billion Wind Deal

Arthi Gupta
17 Mar, 2011
New York City

Russia based VimpelCom Ltd. said its shareholders approved the combination of the company with Wind Telecom S.p.A. The total deal is valued at $6 billion.

U.S. Jobless Claims Fall, CPI Up 0.5%; FedEx Net Drops

Arthi Gupta
17 Mar, 2011
New York City

U.S. indexes climbed after consumer prices index rose 0.5% in February and weekly jobless claims declined 16,000 to 385,000. Russia based VimpelCom shareholders approved merger with Wind Telecom. FedEx quarterly net declined but beat forecast.

European Stock Up After 6-day Slide; Allianz, Scor, Munich Re Fall

Arthi Gupta
17 Mar, 2011
New York City

European indexes gained after six straight days of declines as U.S. and European scientists help Japan contain radiation leak. A meeting of G7 finance ministers will discuss the impact of the Japanese earthquake on global economy. HeidelbergCement returned to profit.

Euro Area Construction Gains; Switzerland Holds Rate at 0.25%

Arthi Gupta
17 Mar, 2011
New York City

Euro area construction output rebounded in January and German building permits rose in 2010. Swiss economic growth outlook revised up for the current year. Unemployment rate in Greece soared to 14.2% at the end of last quarter and the rate jumped to 18% among women.

Sensex Drops 1%, RBI Lifts Rates and Views on Inflation

Devan Biswas
17 Mar, 2011
New York City

Stocks in Mumbai edged lower after the Reserve Bank of India hiked rates by 0.25% as expected but lifted the current fiscal year inflation estimate to 8% from 7%. Rate sensitive automakers, banks and real estate developers led the decliners.

Nikkei Recovers to 1.4% Fall; Record Yen

Nigel Thomas
17 Mar, 2011
New York City

Stocks in Tokyo in a roller coaster ride dropped as low as 5% after a cautious statement from an American official prompted a sell off in the yen. The yen surged to a post World War II record. Insurance carriers fell and Japanese exporters brace for one month of production loss.

Wesfarmers in Australia Places Premier Coal for Sale; Myer Lowers Outlook

Marcus Jacob
17 Mar, 2011
New York City

Stocks in Sydney in a choppy trading declined to six-month low as international worries overshadowed the trading sentiment. Wesfarmers placed its coal mining division for sales and the retailer Myer lowered its full year outlook for the second time.

Markets in U.S., Europe Fall 2% on Nuclear Worries, Middle East Tensions

Bikram Pandey
16 Mar, 2011
New York City

U.S. indexes dropped as much as 2% after crude oil gained and Japan struggled to contain radiation leaks. Market decline accelerated after housing starts annual rate dropped to 27-year low and building permits declined to a record low. Crude oil gained as violence in Bahrain intensified.

U.S. Movers: Altera, Pacific Sunwear, Morton

Mukesh Buch
16 Mar, 2011
New York City

Altera Corp and Xilinx Inc gained on the expectations of increased capital spending from China based telecom operator. Rambus Inc gained after it extended its technology license with Toshiba Corp. Home builders declined after new home starts dropped.

UK Unemployment Rises to 17-year High; Greggs Surges 5%

Arthi Gupta
16 Mar, 2011
New York City

The UK indexes slid and commodities declined and jobless count rose to the highest since 1994. The UK jobless claims fell unexpectedly but unemployment rate rose to 8%. Rolls-Royce secured Trent 900 engines contract from Asiana Airlines.

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.

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