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Heavy Rains Hamper Mining in Australia; Index Down 1.65%

Chandrasekhar Atreya
30 Dec, 2010
New York City

The benchmark index in Australia closed fell 1.65% in the year. A surge in commodities and energy prices lifted the dollar for the eighth day in a row and touched high last seen in 1982. Several mines in Queensland are forced to close production as rains and flooding hamper activities and life

U.S. Stocks Rise on Global Recovery Optimism

Bikram Pandey
29 Dec, 2010
New York City

U.S. indexes closed higher after the dollar edged lower. Crude oil price declined by hovered near 28-month high. Gold and silver traded at 3-decade high. Copper touched intra-day high. Treasury auction of 7-year bonds attracted a strong interest.

U.S. Movers: BJ

Mukesh Buch
29 Dec, 2010
New York City

Resources linked companies edged lower but metals prices held their grounds. Pulse Electronics Corp soared 18% after Bel Fuse Inc expressed an interest in combining two companies. BJ

UK Indexes Fall; Anglo American Invests in Brazil Project

Arthi Gupta
29 Dec, 2010
New York City

The UK indexes fell and housing equity injections increased in the third quarter. Anglo American plc agreed to invest as much as $700 million in an iron ore project in Brazil. Smith & Nephew declined 2% after U.S. regulatory inquiry.

European Indexes Near Two-Year Highs; German CPI Rises

Arthi Gupta
29 Dec, 2010
New York City

The European indexes rose to two-year highs after euro-zone money supply improved in November. German consumer price index climbed 1.7% in December. Spanish retail sales fell and Swedish trade surplus improved in November. Skanska agreed to sell its 50% share in PPP Highway Autopista Central.

World and U.S. Markets at Highs; Groupon to Raise $1 Billion

Arthi Gupta
29 Dec, 2010
New York City

U.S. stock index traded higher as markets in Europe trade near two-year high and Asian markets retained momentum. China cuts rare earth minerals export quota by 35%. Air travel disruption continued on the third day after East Coast snowstorm.

India Estimates Record Grain Crop and Faces Record Food Prices

Chandrasekhar Atreya
29 Dec, 2010
New York City

Stocks in Mumbai surged more than 1% on higher traded volumes ahead of the derivatives contracts expiry on Thursday. Punjab and Sind Bank fixed its public offering price. Record grain harvesting is expected in the current fiscal year surpassig the previous record in 2009.

Tower Australia Recommends $1.76 billion Dai-ichi Life Offer

Chandrasekhar Atreya
29 Dec, 2010
New York City

Australian stock index closed flat as miners fell despite a rise in precious metals prices. Tower Australia recommended $1.76 billion takeover offer from Dai-ichi Life. Rains bring down coal production in Australia and Darlymple Bay Coal terminal suspends operations.

Foreign Investors Increase Japan Bond Holdings

Chandrasekhar Atreya
29 Dec, 2010
New York City

Stocks in Tokyo gained on earnings outlook. Holdings of Japanese government bonds by overseas investors surged 6% to 57.5 trillion yen in the September quarter. Purchase of television sets surges 255% in November ahead of expiry of government incentives.

Elevated Home Prices in Shanghai; Hang Seng Surged 1.5%

Chandrasekhar Atreya
29 Dec, 2010
New York City

Hong Kong

U.S. Treasuries Slide, Gold Tops $1,400; World Markets Sideways

Bikram Pandey
28 Dec, 2010
New York City

U.S. eked out fraction gains as Treasuries fell after weaker than expected demand at the latest $35 billion five-year auction. Holiday retail sales were ahead of expectations. Gold surged and silver closed at a record after consumer confidence dropped and home price index fell.

European Indexes Gain; French GDP Growth Slows

Arthi Gupta
28 Dec, 2010
New York City

The European indexes climbed after French GDP rose 0.3% in the third quarter. German industry group lifted industrial sector growth forecast for 2011. Swiss UBS consumption fell and Swedish retail sales slackened in November. Alcatel-Lucent agreed to pay $137 million to settle U.S. bribery cases.

U.S. Holiday Sales Up 5.5%; Stocks Flat

Arthi Gupta
28 Dec, 2010
New York City

U.S. indexes traded flat after holiday retail sales rose more than expected. Apparel and jewelry sales drove the holiday purchases and higher discounts attracted more shoppers online. Consumer confidence index declined in December and metropolitan home price index fell 1% in October.

India Movers: Gujarat NRE Coke, Lanco Infratech, Surya Pharma

Mukesh Buch
28 Dec, 2010
New York City

Cipla received notice from national pharmaceutical pricing authority demanding $10 million. Kingfisher launched five new flights on its domestic network. Zee Entertainment launched four TV channels in Australia.

Rupee Edges Lower; India Steps Up 82 Mining Licenses Scrutiny

Chandrasekhar Atreya
28 Dec, 2010
New York City

Mumbai stocks fluctuated in thin volume trading. Uttar Pradesh signed several agreements with major companies to make the state a power-surplus state. India sought to decide the fate of 82 coal mining licenses that are dormant for last three years.

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