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Market Update

U.S. Jobless Rate Drops to 8.9%; IMF Forecasts High Food Prices

Arthi Gupta
04 Mar, 2011
New York City

U.S. indexes gained after payrolls rose 192,000 and jobless rate fell. The IMF forecasted high food prices on rising demand. Dresser-Rand agreed to acquire Spain-based Grupo Guascor for $690 million.

Sensex in India Drifts; Banking Amendment Bill Clears Cabinet

Devan Biswas
04 Mar, 2011
New York City

Mumbai stocks surrendered earlier gains. Union Cabinet approved the banking reform bill that will increase shareholder voting right proportional to holding and require an approval for a stake higher than 5%. Tata Power plans to increase its generating capacity eightfold in the next seven years.

Shanghai Stocks Rally 1.4% Ahead of Plenary Meeting

Devan Biswas
04 Mar, 2011
New York City

China region stocks gained as investors focused on the meeting of lawmakers, bankers and policymakers beginning tomorrow for the next ten days. China is looking to drive economic growth in the next five years through higher consumption.

Nikkei in Japan Jumps 1%; Sumitomo Electric Develops Cheaper Car Battery

Nigel Thomas
04 Mar, 2011
New York City

Stocks in Tokyo trading closed higher as crude oil eased and positive economic data in the U.S. The yen fell against the euro lifting the export sensitive stocks. Sumitomo Electric Industries soared 8% after it developed cheaper car battery.

Australian Stocks Gain 1.2%; Newcrest Lifts Gold, Copper Estimate at PNG Mine

Marcus Jacob
04 Mar, 2011
New York City

Australian stocks closed higher following the increase in New York and London trading. Fletcher Building extended its offer for Crane by two weeks. Newcrest soared 5% after it doubled the estimate of copper and gold at its mine in Papua New Guinea.

S&P 500 Index Soars 1.7%; Oil, Gold Head Lower

Bikram Pandey
03 Mar, 2011
New York City

U.S. indexes gained on a dip in oil and jobless claims declined to the level last seen in May 2008. The crude oil declined to $100 a barrel after Arab leaders work to bring a peace in Libya. J.C. Penney, Macy

U.S. Movers: Big Lots, Cott, Family Dollar, Heinz, Valero

Mukesh Buch
03 Mar, 2011
New York City

Big Lots fourth quarter net income gained 4.5% to $110.06 million. H.J. Heinz third quarter net income increased 20% to $273.78 million. Royal Bank of Canada first quarter net income surged 23% to C$1.84 billion. The Kroger fourth quarter net income soared to $278.8 million.

UK Indexes Rise 1.6%, Home Prices Fall; Aviva, Taylor Wimpey Net Up

Arthi Gupta
03 Mar, 2011
New York City

The UK indexes rebounded after oil prices declined. The UK home prices fell and service sector growth slowed in February. Irish service sector activity improved in February. The UK government approved News Corp.''s merger with BskyB. Japan-based Itochu agreed to acquire Kwik-Fit for

Euro Area GDP Expands 0.3%, ECB Holds Rates; Carrefour, GDF Suez Net Up

Arthi Gupta
03 Mar, 2011
New York City

The European indexes soared after the ECB retained key rate; European service sector activity showed mixed trends and retail sales improved. Spanish consumer confidence rose in February. Total agreed to acquire minority stake in Russia-based Novatek for $4 billion.

U.S. Indexes Turn Higher on Jobless Claims; AIG Sells Met Life Stake

Arthi Gupta
03 Mar, 2011
New York City

U.S. indexes gained after crude oil prices eased for the first time in three days. AIG raised $9.6 billion from sale of MetLife stake.

India Inflation Declines; Auto, Cement Sales Rise

Devan Biswas
03 Mar, 2011
New York City

Mumbai stocks edged up in a choppy trading as auto sales and two-wheelers sales rise. Bajaj Auto and Hero Honda report sharp gain in unit sales. Cement companies gained after ACC and UltraTech reported higher shipments in February. The latest wholesale price index showed a slight decline.

China Targets 7% Growth, Inflation Worries

Devan Biswas
03 Mar, 2011
New York City

Stocks in Shanghai edged lower ahead of plenary meeting this week and approve several economic projects. China has targeted 7% economic growth in the period between 2011 and 2015. China said former Railways Minster Liu is under bribery investigation. Airlines declined.

Nikkei in Japan Up 0.9%, Panasonic Completes $6 Billion Bond Offering

Nigel Thomas
03 Mar, 2011
New York City

Stocks in Japan closed higher on positive U.S. economic data. Panasonic completed the sale of $6 billion bond offering, the largest offering from a non-financial Japanese company. Exporters and automakers led the gainers in Tokyo trading.

Australian Home Construction Approvals Fall 15.9%; Trade Surplus Narrows

Marcus Jacob
03 Mar, 2011
New York City

Stocks in Australia edged higher in a quiet trading. Resource and healthcare stocks led the gainers in trading. Australian trade surplus in January narrowed to $1.88 billion and home construction approvals fell 15.9%.

Jobs Data Lift U.S. Stocks, Lawmakers Postpone Shutdown

Bikram Pandey
02 Mar, 2011
New York City

U.S. stocks traded higher and U.S. lawmakers approve temporary spending bill that will trim budget by $4 billon. A private survey indicated U.S. companies added more jobs in February. Crude oil gained as unrest in Middle East escalates. Spain