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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.

U.S. Movers: Coca-Cola, Sygenta, Walt Disney, XL Group

Mukesh Buch
09 Feb, 2011
New York City

Ingersoll-Rand fourth quarter revenue gained 13% and net earnings rose to $212.1 million. Coca-Cola net revenue rose 40% and net income surged 274% to $5.77 billion. Walt Disney first quarter revenue increased 10% to $10.7 billion and net income soared 54% to $1,302 million.

LSE to Acquire Canada Based TMX Group for $3.2 Billion

Arjun Dave
09 Feb, 2011
New York City

London Stock Exchange Group Plc agreed to acquire Toronto based TMX Group for $3.2 billion. Intense competition for stock trading and heavy technology cost brought two distant exchanges together.

U.S. Indexes Lower After Seven Days of Gains, Bernanke Faces Lawmakers

Bikram Pandey
09 Feb, 2011
New York City

U.S. stock are heading lower in the early trading after the Dow rallied for the seven sessions in a row. London Stock Exchange Group agreed to merge with Canada based TMX Group. Fed Chairman Bernanke said unemployment is likely to remain high for some time.

Sanofi Net Falls, Peugeot Net Ahead of Estimate; LSE, TMX to Merge

Devan Biswas
09 Feb, 2011
New York City

European markets were on the defensive after mixed earnings in the region. PSA Peugeot Citroen said it will open a factory in India and sales rose 16% and earnings were ahead of previous estimate. LSE agreed to merge with Canada based TMX Group. Sanofi declined after it estimated lower net.

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