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European Markets Struggle; German Output Drops, Construction Plunges

Marcus Jacob
08 Feb, 2011
New York City

European markets traded lower after Germany reported 1.5% decline industrial production in December and construction plunged 24%. UBS AG reported its first annual profit since 2008 and attracted net new assets. Xstrata Plc annual net soared 86%. ArcelorMittal guided higher quarterly net.

Sensex in India Drops 1.4%, Banks Decline

Devan Biswas
08 Feb, 2011
New York City

The benchmark index in India dropped 1.4% as investors worry another round of rate hike. Mixed earnings and selling from foreign investors also weighed on investor sentiment. Adani Power and Mundra SEZ earnings rose but Punj Lloyd reported net loss.

India Movers: Adani Power, Bharati Shipyard, Fortis Healthcare, Mundra Port

Mukesh Buch
08 Feb, 2011
New York City

Adani Power net profit surged 50% Bharati Shipyard tumbled after net profit declined 30%. Fortis Healthcare surged after net profit rose 59%. Mundra Port fell and net profit rose 40%. Punj Lloyd tumbled 10.8% after reports of third quarter net loss.

Nikkei in Japan at 9-month High; Toyota Lifts Outlook

Nigel Thomas
08 Feb, 2011
New York City

Stocks in Japan rose and the Nikkei index closed at a 9-month high on better than expected earnings. Toyota lifted its earnings outlook for the year and Japan Tobacco also made positive comments. Toyota said sales in China and emerging market are ahead of expectations. KDDI closed up 5.8%.

Stocks in Australia Up; NAB Net Rises 18%, Macquarie Net Drops 5%

Marcus Jacob
08 Feb, 2011
New York City

Australian stocks gained after the merger fever in the U.S. and record copper prices. Higher earnings from National Australia Bank lifted bank stocks. Macquarie Group declined after it estimated lower earnings. Cochlear first half net increased 16%.

Deals, Earnings Optimisim Drive U.S., World Markets Higher

Bikram Pandey
07 Feb, 2011
New York City

U.S. stocks traded higher as more evidence emerge widening global recovery. India predicted faster economic growth and Indonesia reported higher growth. Merger activities of $20 billion in the U.S. boosted stocks and commodities traded higher.

U.S. Movers: AOL, Cognizant, Humana, Loews, Sysco

Mukesh Buch
07 Feb, 2011
New York City

AOL acquire The Huffington Post for $315 million. Cognizant quarterly revenue surged 45% and net income surged 30% to $206.2 million. Humana revenue rose 9% and net income declined 57% to $107.32 million.

UK Indexes Rise on Resource Stocks; Xstrata, Cairn, Yell Up

Marcus Jacob
07 Feb, 2011
New York City

The UK benchmark index increased 0.9% tracking the gains in commodities and world market sentiment. Cairn Energy Plc said it is likely to complete the sale of its India unit as early as end of March. Randgold Resources net surges.

European Markets Lead Higher; Adidas, SolarWorld Up, Julius Baer Down

Nigel Thomas
07 Feb, 2011
New York City

European markets closed higher as commodities perk up and merger deals of more than $20 billion in the U.S. bolstered trading sentiment. Adidas AG gained after its chief made positive comments and predicted one billion euros sales in China this year. SolarWorld AG rose after earnings rose 26%.

U.S. Indexes Edge Higher; Danaher, Beckman Coulter in $6.8 Billion Deal

Bikram Pandey
07 Feb, 2011
New York City

U.S. stocks inched higher as merger deals of more than $13 billion were announced. Danaher agreed to acquire Beckman Coulter for $6.8 billion and Chesapeake Energy said it will sell its Fayetteville shale asset for $5 billion. AOL agreed to pay $315 million for the blogger The Huffington Post.

AOL Bets on Huffington Post for $315 Million

Bikram Pandey
07 Feb, 2011
New York City

AOL in a largest deal since its separation from Time Warner in 2009 agreed to pay $315 million for the Huffington Post. Co-founder Arianna Huffington will retain editorial control and MapQuest and MovieFone and AOL

India Estimates 8.6% Economic Growth; Inflation Worries

Devan Biswas
07 Feb, 2011
New York City

Stocks in Mumbai closed higher after the government confirmed the current fiscal year economic growth of 8.6%. The higher growth also comes with a sharp rise in current account deficit and a surge in inflation to above 8%. Cipla third quarter net declined 20%. Suzlon swung to quarterly loss.

India Movers: Piramal Life Sciences, Cipla, Hindustan Copper and Suzlon

Mukesh Buch
07 Feb, 2011
New York City

Aurobindo Pharma declined 1.2% and net profit rose 9.8%. Borosil increased 1.3% after third quarter net profit surged three-fold. Cipla plunged 3% after quarterly profit declined 20%. Eicher Motors rose 1% after net profit more than doubled. Suzlon Energy gained 3.5 on lower than expected loss.

Nikkei in Tokyo Advances; Sega Net Up, Credit Saison Lifts Outlook

Nigel Thomas
07 Feb, 2011
New York City

Stocks in Japan closed higher after the U.S. unemployment rate declined. Exporters led the gainers. Sega Sammy added 3% after nine-month income more than doubled and Credit Saison 9% after it lifted full year earnings estimate.

Australian Retail Sales Rise 0.2%; Myer Drops 11.5%

Marcus Jacob
07 Feb, 2011
New York City

Australian stocks closed higher despite the weakness in retailers. Australian retail sales rose 0.2% in December and Myer estimated full year profit to declined 5%. JB Hi-Fi rose on the expectation of better second half earnings. Miners and energy companies declined tracking international prices.

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