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Market Update

U.S., World Markets Selloff; Euro Fiscal Crisis

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
20 May, 2010
New York City

U.S. stocks plunged as investors worry that financial crisis in Europe is developing into a fiscal crisis in the region. U.S. stocks dropped for the sixth day in a row on a weakness in industrial stocks with international sales. Tech heavy Nasdaq dropped nearly 4%.

Advance Auto Rises; MBIA, Toro Drop

Mayank Mehta
20 May, 2010
New York City

GameStop Corp led gainers in the S&P 500 index with a rise of 6.2%. Dr Pepper Snapple Group raises quarterly dividend 67% and Tiffany by 25%. MF Global net loss narrows and plans as much as 15% staff. GameStop quarterly profit rose to $75.2 million. Dollar Tree net income increases 5%.

Declines in European Markets Accelerate

Arthi Gupta, Mayank Mehta and Sanjay Barot
20 May, 2010
New York City

European markets accelerated declines in the late afternoon as the tensions rise in the region and the euro traded weak. Markets in the region and UK dropped between 2.2% and 3%. Valeo SA buys 100% of Electrical Systems venture in India. Air France-KLM Group net loss surged to

UK Index Drops 2.2%; Retail Sales Rise

Arthi Gupta, Mayank Mehta and Sanjay Barot
20 May, 2010
New York City

UK indexes dropped more than 2% after European markets declined between 2% and 3%. The pound declines amid U.K. retail trade report. National Grid rights issue is estimated to raise

Sixth Daily Decline in U.S., World Stocks

Mayank Mehta, Arthi Gupta and Darlington Musarurwa
20 May, 2010
New York City

U.S. stock and world markets declined for the sixth day in a row as the euro zone worries stay in the focus of investors. Initial jobless claims increased 25,000. Accretive Health prices its offering below the initial range. Symantec acquires the security business of VeriSign for $1.28 billion.

China Stocks Reach New Low

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
20 May, 2010
New York City

Stocks in Hong Kong and Shanghai dropped on the weak global market sentiments and worries of more property market curbs. Bank of Beijing receives approval to issue 10 billion yuan of subordinated bonds. Industrial Bank plans to raise $2.6 billion through a rights issue.

Inflation Worries in India; Robust 3G Auction

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
20 May, 2010
New York City

Stocks in Mumbai closed higher after 3G license auction drew nearly twice the revenue that estimated. ONGC and Oil India surged after the government increased the natural gas price terms. Inflation surged in the latest read.

Australian Dollar at 8-month Low

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
20 May, 2010
New York City

The Australian dollar dops to an eight-month low against the US dollar. Western Australia expects to post A$290 million surplus. Healthscope receives a revised bid from a private equity consortium. Super-profit tax continues to be controversial in Australia.

Japan GDP Expands 4.9%; Stocks Weaken

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
20 May, 2010
New York City

The gross domestic product of Japan expanded at 4.9% rate in the first quarter. Resona Holdings plans to buy back the government stake. Large firms to increase bonuses for the first time in two years.

Record U.S. Foreclosures; Stocks Fall

Mayank Mehta, Arthi Gupta and Darlington Musarurwa
19 May, 2010
New York City

U.S. stocks wobbled as European markets and commodities gyrated on weakness in the euro region. U.S. home mortgages rose to a record high to 4.63%. U.S. Fed lifted its economic growth outlook.

Euro Tumbles; Derivatives Volatile

Arthi Gupta, Mayank Mehta and Sanjay Barot
19 May, 2010
New York City

Markets in Europe fell and derivatives markets turned volatile after Germany extended ban on derivatives exposure without the collateral. The euro hit a four-year low against the dollar. EU construction rises 7.6% in March. China

FTSE Falls 2.4%; Rate Decision Unanimous

Arthi Gupta, Mayank Mehta and Sanjay Barot
19 May, 2010
New York City

U.K. stocks decline on concerns tighter regulation as Germany banned short-selling of some bonds. Bank of England was unanimous to keep rates at record low on May 10. Pearson plc buys Melorio. RBS announces sale of RBS Factor S.A. Land Securities, Experian PLC profits rise.

China Stocks Reach New Lows

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
19 May, 2010
New York City

Stocks decline led by property developers. CSCEC plans to build Shenzhen''s third tallest building. Nanjing Iron & Steel to acquire coal mining assets in Anhui. CNOOC confirms oilfield development deal in Iraq.

Australian Confidence, Stocks Drops

Mayank Mehta, Chandrasekhar Atreya and Darlington Musarurwa
19 May, 2010
New York City

Australia

Deere, BJ

Mayank Mehta
19 May, 2010
New York City

Massey Energy Company led the decliners in the S&P 500 index with a loss of 5.6%. Analog Devices profit grows as sales rise 41%. Chico FAS net income more than doubles. Polo Ralph Lauren net income rises two-fold.