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Market Update

Australian Tax Worries; Woodside Drops

Darlington Musarurwa
22 Jan, 2010
New York City

Australian stocks closed sharply lower on the worries that mining companies may be asked to pay more taxes on future projects. The leaked report raised new uncertainties on the taxation regime. Lower world prices of metals and energy also weighed on the market sentiment.

Thirteenth Annual Retail Sales Decline in Japan

Darlington Musarurwa
22 Jan, 2010
New York City

Japan supermarket sales fall 5% to 1.2 trillion yen in December and annual sales declined for the thirteenth year in a row. Toyota Motor Corp. recalls 2.3 million cars to fix sudden acceleration.

Rate Worries Drage Sensex; Reliance Net Surges

Mayank Mehta
22 Jan, 2010
New York City

Investors in India sold stocks ahead of the RBI meeting. Reliance increased its share of sales in the domestic market and quarterly revenues surged 80%. Bharti Airtel sales rise 1.4%. Discount carrier SpiceJet swings to a profit. Corporation Bank net surges 19%.

European Markets Down; Bwin, PartyGaming Talks

Mayank Mehta
22 Jan, 2010
New York City

European markets closed lower and now in the red for 2009. Investors worried that additional bank regulations and limits on risk ventures is likely to curb future profits at banks. Bwin Interactive is in merger talks with PartyGaming.

UK Benchmark Lower on Weak Financials

Mayank Mehta
22 Jan, 2010
New York City

UK financials and miners led the decliners for the third day in a row. The benchmark index is in loss for 2010. Miners fell on the worries that China will tighten monetary policy and banks declined on limit on risk taking activities in the U.S. may spread to Europe.

GE, Intuitive Surgical Rise; Google, AMD Fall

Mayank Mehta
22 Jan, 2010
New York City

Intuitive Surgical, Inc led gainers in the S&P 500 index with a rise of 10.5%. Google earnings quadruple and sales increase 17%. General Electric net drops 19%. Kimberly-Clark

Stocks, Metals Drop on China; AmEx Falls

123jump.com Staff
22 Jan, 2010
New York City

Prospects of higher rates in China, India, Korea and Australia prompted fresh worries on global growth. President Obama

World Markets Trade Lower, Bank Profit Worries

123jump.com Staff
22 Jan, 2010
New York City

Markets in Europe traded lower and in Asia declined sharply. Gold, copper and crude oil also fell after a surge in Chinese GDP stoked speculation of tighter monetary policies. Industrial orders in the euro-zone increased and UK retail sales in December less than expected.

U.S., World Indexes Down 2%; Obama Bank Plan

123jump.com Staff
21 Jan, 2010
New York City

President Obama proposed a plan that will limit excessive risk taking by banks with depositors capital and banks are not too big that require a government bailout. Indexes in the New York, Toronto, Mexico City, Sao Paolo and Europe fell between 2% and 2.8%. Gold, copper and crude oil declined.

Lower Banks Drag European Indexes 2%

Mayank Mehta
21 Jan, 2010
New York City

European markets declined nearly 2% for the second time this week and erased the gains of the year. Banks led the decliners after the U.S. proposed limiting risk taking activities by banks. Euro was under pressure as a measure of economic growth softened.

UK Budget Deficit Soars; Banks Drop

Mayank Mehta
21 Jan, 2010
New York City

The UK budget deficit surged in December to a record

Ebay, Estee Lauder, Starbucks, Xerox Rise

Mayank Mehta
21 Jan, 2010
New York City

Goldman Sachs quarterly and annual earnings exceeded estimates and said it will payout $16 billion in bonuses. Estee Lauder, Seagate Technology, Starbucks and Xerox Corp increased after reporting better than expected earnings. eBay surged after it offered annual earnings outlook.

Australian Dollar Gains; CBH Surges on Toho Deal

Mayank Mehta
21 Jan, 2010
New York City

Stocks and commodities in Sydney trading declined after China reported a surge in economic expansion. The Australian dollar strengthened. New Zealand retail sales increased 0.8%. CBH Resources surged 15% after it struck a deal with Toho Zinc Co.

Yen Weakness Lifts Japanese Stocks

123jump.com Staff
21 Jan, 2010
New York City

Stocks in Japan closed higher after the yen weakened. Japanese electronics makers increase after Korean chipmaker Hynix swings to a profit. Insurance companies closed higher after casualty insurers expand in China.

Chinese 10.7% Growth Fuels Bubble Worries

Mayank Mehta
21 Jan, 2010
New York City

Stocks in Hong Kong and Shanghai dropped sharply after China reported fourth quarter economic expansion of 10.7%. Resource, auto makers, realtors and banks led the decliners. Copper production surged and crude oil production increased in 2009.