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India Movers: Aditya Birla Nuvo, Aptech, Suzlon Energy

Mukesh Buch
11 Feb, 2011
New York City

Aditya Birla Nuvo gained 4% after net profit surged. Cairn India rose 4% after net profit soared 591%. Educomp closed higher 6% after net profit surged 58%. Essar Shipping and Port of Antwerp International sign a pact.

China Differentiates Bank Reserves Ratios; Weekly Drop of 4.5% in HK Index

123jump.com Staff
11 Feb, 2011
New York City

Hong Kong stocks lost 4.5% in the week. Property developers were in focus after Shanghai new home sales in December declined 25%, however 84 new projects are expected to start this year. China differentiated reserve requirements for small and large banks as lending surge above 1 trillion yen.

Reserve Bank of Australia Forecast Stable Rates

Marcus Jacob
11 Feb, 2011
New York City

Sydney benchmark index declined 0.7% and the RBA governor assured Australian lawmakers that rates are not expected to change for sometime. Governor Glenn Stevens also noted that food price increase is temporary and said higher commodities prices will fuel larger surge in domestic income.

Mixed Close on Wall Street; Europeans Worry Global Inflation

Bikram Pandey
10 Feb, 2011
New York City

U.S. stocks decline and the dollar gained. Indexes were under pressure and tech stocks declined after Cisco fell 14%. Broader index S&P 500 barely closed higher. European markets declined on weak commodities and markets in Asia declined.

UK Rates on Hold; Rio Tinto, Diageo Fall; Smith & Nephew Rises

Marcus Jacob
10 Feb, 2011
New York City

UK stocks closed lower and the Bank of England held rates and left bond buying program unchanged. Rolls Royce net was nearly wiped on costs related Qantas engine failure charges. Rio Tinto net soared and said it is focused on lowering its debt and will spend $12 billion in capital expenditure.

U.S. Movers: Bunge, Cisco, MetLife, PepsiCo, Thomson Reuters

Mukesh Buch
10 Feb, 2011
New York City

Bunge fourth quarter net income rose to $292 million. Cisco second quarter net income declined 17.9% to $1.5 billion. MetLife fourth quarter net income plunged 82% to $51 million. PepsiCo quarterly net income fell 5% to $1.36 billion. Thomson Reuters fourth quarter net income fell 11% to $307 mn.

European Markets Sell Off; Credit Suisse, Air France Fall 6%

Devan Biswas
10 Feb, 2011
New York City

European markets edged lower after world markets fell on the fears of rising inflation worldwide. European markets also declined after Cisco Systems earnings fell and Credit Suisse lowered its target rate of return to 15% form 18%. Air France reported quarterly loss.

U.S. Indexes Decline; Weak Earnings at Cisco and Pepsi

Bikram Pandey
10 Feb, 2011
New York City

U.S. stocks traded lower after Cisco Systems reported lower earnings on a rise in sales. U.S. jobless claims at the end of last week fell by 36,000 to 383,000. Foreclosure filings in January declined 17%, fourth monthly decline in a row.

Nikkei Steady Ahead of GDP, Inflation Data; Asahi Down

Nigel Thomas
10 Feb, 2011
New York City

Stocks in Japan declined ahead of three day weekend and GDP and inflation data next week. Asahi Glass fell on cautious outlook but Nissan rose as automakers report rising sales and earnings. Shipping companies rose after freight rate index gained.

Sensex in 4-day Selloff; Telecom Regulator Proposes One-time Fee

Devan Biswas
10 Feb, 2011
New York City

Stocks in Mumbai fell for the third day in a row and the benchmark index fell 0.7%. The Sensex index fell 4% in the three-day sell off. Telecom companies declined after the regulator proposed one-time fee for 2G radio spectrum that may cost industry $1.3 billion. Weekly wholesale inflation declined.

India Movers: Elecon Engineering, GMR, Reliance Infrastructure, SAIL

Mukesh Buch
10 Feb, 2011
New York City

Elecon Engineering soared 5% after net profit surged 85.6%. EPC Industrie Ltd surged 20% after M&M will acquire 38% stake. KRBL slumped 8% after net profit fell 12%. Reliance Infrastructure soared 9.4% after ADAG group stocks recover from the sell-off.

Hang Seng Index Down 2%; Shanghai Index Up 1.6%

Nigel Thomas
10 Feb, 2011
New York City

Stocks in Hong Kong closed sharply lower as investors pull money out of Asia. Hong Stock Exchange declined 5% on heavy volume on the worries that trading volume will fall further. The benchmark index in Hong Kong fell 2% but in Shanghai rose 1.6%.

Rio Tinto Net Soars 194%; Telstra Net Drops 36%

Marcus Jacob
10 Feb, 2011
New York City

Stocks in Australia were firm ahead of Rio Tinto earnings. After the close iron ore miner said annual net soared to $14.32 billion and increased full year dividend 20%. Transurban underlying earnings increased 9.5% to $362.8 million. Telstra net dropped 36%.

U.S Treasuries Rally on Record Foreign Interest; Asian Markets Decline 1%

Bikram Pandey
09 Feb, 2011
New York City

U.S. stocks edged lower after rallying for seven days in a row. Treasuries rallied as 10-year bond auction of $24 billion drew record foreign investor interest. Fed Chairman Bernanke said unemployment rate is likely to remain high. NYSE Euronext and Deutsche Boerse are in deal talk.

UK Bonus Deal with Banks Deemed Ineffective, Reckitt Benckiser Falls 6%

Devan Biswas
09 Feb, 2011
New York City

Stocks in London edged lower and government announced a deal with banks to hold bonuses and lend more to small businesses. The deal was criticized by the members of the ruling party and the opposition as ineffective. Reckitt Benckiser dropped on a cautious outlook.

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