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Hang Seng Drops 1.4%; China Railways Halts Libya Projects

123jump.com Staff
02 Mar, 2011
New York City

Stocks in China edged lower after rising for four days in a row and the benchmark Hang Seng index fell 1.4%. Airlines and property developers declined and cement makers fell after rising for two days. China Railway Construction dropped after it halted three construction projects.

Nikkei in Japan Drops 2.4%; Japan Passes $1.1 Trillion Budget

Nigel Thomas
02 Mar, 2011
New York City

The benchmark index Nikkei declined 2.4% as crude oil surged and the lower house of Japan passed $1.1 trillion budget. The yen strengthened. Exporters and automakers led the decliners.

Australian GDP Expands 0.7%; Stocks Fall on Middle East Worries

Marcus Jacob
02 Mar, 2011
New York City

Australian stocks closed lower after oil and gold surged and unrest spread in Iran. Fighting continued in Libya and protesters returned to streets in Yemen and Oman. Australian GDP expanded 0.7% in the fourth quarter and increased 2.7% in 2010.

S&P 500 and Nasdaq Drop 1.6%; Oil Nears $100, Gold at 31-Year High

Bikram Pandey
01 Mar, 2011
New York City

U.S. stocks dropped, oil rallied and gold closed at 31-year high as investors feared higher oil price impact may impact the economic recovery. Investors largely ignored Fed chairman comments that higher commodity prices have temporary impact on the economy. SEC charges ex-director of Goldman Sachs.

U.S. Movers: AutoZone, Domino

Mukesh Buch
01 Mar, 2011
New York City

AutoZone second quarter net income increased 20% to $148.06 million. Bank of Montreal first quarter net income rose to $776 million. Domino

UK Home Prices, Home Loans Rise; Xchanging, United Business Media Plunge

Arthi Gupta
01 Mar, 2011
New York City

The UK indexes traded sideways after home prices and mortgage approvals rose and Irish manufacturing activity improved in February. Barclays agreed to acquire Egg

Outlook for Europe Lifted; Vivendi Swings to Profit, Nestle Bids for Yoplait

Arthi Gupta
01 Mar, 2011
New York City

The European indexes edged higher after euro-zone and German manufacturing expanded in February and German jobless rate fell. Swedish GDP rose more than estimated and Hungarian producer price index eased in January. Nestle and two France based companies are in the race to acquire Yoplait stake.

Dow Declines on Bernanke Comments; AutoZone Net Up, Youku Loss Narrows

Arthi Gupta
01 Mar, 2011
New York City

U.S. indexes trade lower and Fed Chairman Bernanke said rates are likely to remain low. Health Care REIT agreed to buy real estate assets of Genesis for $2.4 billion. Range Resources sold Barnett Shale Assets for $900 million. Japan-based Daiichi Sankyo purchased Plexxikon for $805 million.

Sensex in India Soars 3.7%, Exports Surge 29%, Strong Auto Sales

Devan Biswas
01 Mar, 2011
New York City

Stocks in Mumbai gained a day after budget that estimated narrower deficit and auto sales soared in February. A private survey indicated manufacturing expanded at a faster pace in the month. Exports in January soared 29% and the government lifted its exports target to $225 billion.

China Stocks Extend Gains; HSBC Drops, Poly Real Estate Rises

Devan Biswas
01 Mar, 2011
New York City

Stocks in China gained after manufacturing index declined to a six-month low and fell for the third month in a row. Poly Real Estate Group rose after 2010 net rose 40%. HSBC Holdings declined 5% after it lowered target rate of return on equity. Trading volume on mainland Chinese exchanges soared.

Nikkei in Japan Rally as Investors See Low Inflation Risk, Auto Sales Drop 12%

Nigel Thomas
01 Mar, 2011
New York City

Stocks in Japan closed higher for the second day as foreign investors see low risk of sharp rise in inflation. The benchmark Nikkei index added 2.9% in two days and export sensitive stocks led gainers. Automakers closed up. Dentsu jumped 5% after it was appointed to represent Facebook in Japan.

Australian Rates on Hold, Retail Sales Rise 0.4%

Marcus Jacob
01 Mar, 2011
New York City

Australian stocks and dollar closed nearly unchanged after the Reserve Bank of Australia left rates on hold and cited rising wage pressures. Current account deficit in the quarter to December widened to $7.3 billion and retail sales in January rose 0.4%.

World Markets Brave Higher, European Inflation Accelerates

Bikram Pandey
28 Feb, 2011
New York City

U.S. indexes trade higher after personal spending and income rose. Pending contracts of sale of U.S. homes rose in January. In Europe, inflation stayed above the target level of the central bank. Crude oil stayed high and financial budget in India estimated smaller deficit on a quicker growth.

U.S. Movers: Berkshire, Dril-Quip, Quicksilver, Tenet Healthcare

Mukesh Buch
28 Feb, 2011
New York City

American Water Works fourth quarter net income increased 10.4% to $40.2 million. Endo Pharmaceuticals fourth quarter net income declined 37% to $93 million. Interpublic Group quarterly net income soared 51% to $195 million. Public Storage net income in the quarter rose 3.3% to $121.4 millin.

UK Home Prices Rise; HSBC Profit Surges

Arthi Gupta
28 Feb, 2011
New York City

The UK indexes traded lower after home prices in England rose and Irish retail sales fell in January. HP Enterprise Services won deal worth more than $400 million from Centrica. Tesco entered in a venture to develop shopping malls in China.

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