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Australian Index Drops 0.9%; Healthscope Bid

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

Stocks fell ahead of release of key indices data next week. Healthscope receives A$1.74 billion bid. Gindalbie raises A$175 million for iron ore project. The Australian dollar decreased 0.1% to 89.44 U.S. cents.

Banks, Retailers Fall in New York

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

U.S. stocks closed higher after banks fell on the investigation from regulators. Disappointing earnings report from retailers and a 3-day rally in stocks exhausted appetite for stocks in trading. Dollar continued to gain ground against the euro and crude oil declined.

China Stocks Rebound Near Bear Levels

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

Stocks in Shanghai and Hong Kong gained as investors returned. Domestic earnings, calmer European markets and positive economic data in the U.S. encouraged investors. PetroChina plans to issue 40 billion yuan bonds. Tencent revenues grow 69% in first quarter. Gemdale said April sales rise 22%.

SAP Pins Hopes on Sybase Purchase

123jump.com Staff
13 May, 2010
New York City

German software maker SAP AG agreed to acquire Dublin, California-based software company Sybase Inc for $5.8 billion in an all cash deal to improve sagging sales by using Sybase

Euro Falls; Spain, Portugal Austerity Steps

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

European indices closed higher on strong earnings and on the easing of fears about the EU debt crisis. SAP agrees to acquire Sybase for $5.8 billion. Credit Agricole SA first-quarter profit rises. Telefonica first quarter profit increases 2%. Cap Gemini SA proposes share repurchase program.

U.K. Stocks Gain, Sainsbury Net Rises

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

U.K. stocks gain on commodity prices and positive earnings momentum. Coalition government takes first step to curb budget deficit. UK trade deficit rises in March and mortgage repossessions falls in first quarter. Tullett Prebon said takeover talks terminated.

Sybase, Whole Foods Rise; Cisco Falls

Mayank Mehta
13 May, 2010
New York City

Cisco Systems, Inc led the decliners in the S&P 500 index with a loss of 3.4% after it reported quarterly profit increase of 63%. SAP AG agrees to acquire Sybase for $5.8 billion. Whole Foods quarterly sales increased 13% and net surged 147%. Urban Outfitters quarterly net rose 72%.

Australia Job Growth Accelerates

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

The benchmark index in Australia gained after the release jobs report. Job growth accelerates as Australia adds 33,700 jobs in April. Optus annual profit soars 16% to A$676 million.

Yen Slips, Current Account Surplus Widens

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

Nikkei 225 Stock Average rebounded on the weakening yen and improving profit outlook for exporters. Current account surplus surged 65% in March and bankruptcies declined 13% in April. Bank of Japan begins dollar lending operation.

Optimism Drives India Stocks Higher

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

Stocks in Mumbai closed higher on the prospect of improving economic growth and earnings. Nitesh Estates closes below its initial public offer price. Sara Lee agrees to sell its 51% stake in the Godrej Sara Lee Ltd. Thermax indicated better outlook in the current fiscal year.

U.S. Stocks Struggle; Dollar Gains

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

U.S. stocks trade cautiously as jobless claims fell and concerns about the the euro crisis ease. U.S. dollar soars to one-week high against the euro. April import price index rises 0.9% and export prices increase 1.2%. Weekly jobless claims decrease 4,000. SAP AG buys Sybase for $5.8 billion.

3-Day Rally in U.S. Stocks; Gold Gains

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

U.S. indexes accelerated gains in the late afternoon on rising optimism. Better than expected earnings at companies in U.S. and Europe and deal talks to acquire Fidelity National also supported the sentiment. Niska Gas Storage Partners LLC completed initial public offering to raise $359 million.

Inflation Worries China Investors

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

Indexes in Hong Kong and Shanghai closed higher but consumer stocks fell on the worries of rising interest rates. China Railway Construction wins nearly $500 million contract. Zijin Mining agrees to buy 60% stake in Congo Mining Company.

European Markets Focus on Earnings, Spain

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

European indexes gained on positive earnings from Deutsche Telekom, Allianz, ING, Natixis and Aegon. Euro-area GDP increased 0.2% in the quarter to March industrial output gained 1.3% in the month. Spain announced austerity measures to trim government spending.

Bank of England Supports Deficit Cut Plan

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

U.K. stocks rise after Prime Minister David Cameron pledged to cut budget deficit as soon as possible. Unemployment rate in the first quarter to March was 8.0% and GDP increased by 0.2%. Towers Watson & Co. profit drops after merger.

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