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Market Update

FTSE 100 Index Gains 9% in 2010; Weir, Arm Holdings, Fresnillo Soar

Arthi Gupta
31 Dec, 2010
New York City

The UK indexes dropped after home prices rose in December and for the year FTSE 100 index gained 9%.India-based Sahara Group bought Grosvenor House Hotel for

Europe 2010: DAX Up 17%; Athens Index Down 35%

Arthi Gupta
31 Dec, 2010
New York City

European indexes diverged in 2010. Germany led the region with a gain of 17% and Greece led the decliners with a loss of 35%. UK index rose 9% but the index in France declined 3.4%. Russia and Turkey rose more than 22%.

U.S. Stocks Mixed; Treasury Raised Ally Financial Stake

Arthi Gupta
31 Dec, 2010
New York City

U.S. stock futures traded sideways on the last trading session of year 2010. Indexes in Indonesia, Philippines, India and South Korea led world markets. The U.S. Treasury raised its stake in Ally. Dynegy Board accepted $665 million buyout offer from Ichan controlled company.

Sensex in India Gains 17.3%; Sahara Buys Grosvenor Hotel for

Chandrasekhar Atreya
31 Dec, 2010
New York City

Stocks in Mumbai continued to rise for the third day in a row. The Sensex index gained 17.3% in 2010 as economy rebounded and international fund flows continued. Sahara Group acquired London based Grosvenor House for $726 million.

Shanghai Index Down 14.3% in 2010; China Steps Up Land Auction Scrutiny

Chandrasekhar Atreya
31 Dec, 2010
New York City

Shanghai key benchmark index gains more than 2% for the day but lost 14.31% in 2010. Hang Seng index rose 5.3% in the year. China steps up scrutiny of recently sold but undeveloped land and seized at least two land parcels from developers. Non-ferrous metals international trade surged 46.5%.

Australian Mines Face Widespread Disruptions; ASX Fall 2.6% in 2010

Chandrasekhar Atreya
31 Dec, 2010
New York City

Australian benchmark stock index ends the day 1% down and for the year 2010 declined 2.57%. Rain havoc continues in Queensland forcing miners to invoke the emergency clauses for coal supplies. Dalrymple Bay expects to resume export of coal on the New Year day.

Costco Q1 Earnings Call Transcript

123jump.com Staff
31 Dec, 2010
New York City

The membership warehouse club operator net sales increased 11% to $18.82 billion in the quarter. Net income for the quarter rose 17.3% to $312 million. Earnings grew to 71 cents per diluted share, compared to 60 cents per diluted share in the year-ago quarter.

U.S. Stocks Decline, Emerging Markets Gain; Another Record in Copper

Bikram Pandey
30 Dec, 2010
New York City

U.S. stocks traded lower as weekly jobless claims declined below 400,000 and the index of pending home resale increased 3.5% in November. Venezuela devalued bolivars against the dollar by 40%, the second devaluation in the year. Crude oil closed lower.

U.S. Movers: MBIA, East West Bancorp, Lockheed Martin

Mukesh Buch
30 Dec, 2010
New York City

MBIA Inc soared after two banks withdrew lawsuits. East West Bancorp surged after the bank repaid TARP funds. General Moly, China restricts rare-earth exports. Lockheed Martin won order of $437 million from US Navy. Qwest redeemed outstanding 3.5% convertible notes of approximately $1.1 billion.

UK Home Prices Drop; WPP Acquires Blue State Digital

Arthi Gupta
30 Dec, 2010
New York City

The UK indexes slid after home prices fell for a third straight month in November. WPP Digital agreed to acquire Blue State Digital. Balfour Beatty won infrastructure contracts in Hong Kong worth

European Indexes Slide; Italy Producer Price Inflation Surges

Arthi Gupta
30 Dec, 2010
New York City

The European indexes declined after EuroCoin Indicator climbed in December. Swiss current account surplus improved in the third quarter. Spain current account deficit narrowed in October. Italian manufacturing sentiment rose in December.

U.S. Jobless Claims Fall; U.S. Middle Class Consumer Spending Rebounds

Arthi Gupta
30 Dec, 2010
New York City

U.S. weekly jobless claims declined 34,000. PAA Natural Gas agreed to buy SG Resources Mississippi for $750 million. Boston Properties completed the acquisition of John Hancock Tower for $930 million. A private survey of consumers indicates a sharp rebound in consumer spending in upper middle class.

India Stocks in 2-day Rally; Elevated Inflation

Chandrasekhar Atreya
30 Dec, 2010
New York City

Stocks in Mumbai rallied tracking gains in Asia. Investors are looking for a sustained economic expansion in 2011 as commodities hover near highs for the year. Sensex in the year is up 15%. Food and fuel prices surge in the latest read on inflation.

China Fines 79 Banks and Deems Internet Telephony Providers Illegal

Chandrasekhar Atreya
30 Dec, 2010
New York City

Hong Kong

Nikkei Drops 3% in 2010 as Volumes Drops to 6-year Low

Chandrasekhar Atreya
30 Dec, 2010
New York City

Stocks in Tokyo lost more than 1% after the yen strengthened to a seven-week high. For the year the benchmark index declined 3%. Trading volumes on the Tokyo Stock Exchange is likely to drop for the third year in a row and to six year low.