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European Markets Slide; Shell Misses Earnings, Benz Auto Sales Up 23%

Nigel Thomas
03 Feb, 2011
New York City

European markets edged lower as crude oil prices rose to a 2-year high. Copper and zinc and aluminum traded higher. Royal Dutch Shell earnings miss dragged markets in Holland and in UK. Mercedes-Benz vehicles in January rose 23% to 82,700.

Lackluster New York Trading; Crude Oil 2-year High, Visa, MasterCard Net Up

Bikram Pandey
03 Feb, 2011
New York City

U.S. stocks traded sideways as crude oil climbs to a 2-year high and copper and cotton surge. Commodities markets turn jittery for the third day as popular unrest in the Middle East spread to Yemen. Visa, News Corp, Royal Dutch Shell and Hermes earnings rise. MasterCard quarterly net soared 41%.

Sensex in India Surges 1.9%; Food Inflation Worries

Devan Biswas
03 Feb, 2011
New York City

Stocks in Mumbai surged tracking gains in international markets but elevated inflation tempered the surge. Food prices rose 17.05% and fuel prices increased 11% as demand run ahead of supplies. Ashok Leyland unit sales declined 2% in January.

India Movers: Ashok Leyland, BF Utilities, Glaxo, Voltas

Mukesh Buch
03 Feb, 2011
New York City

Ashok Leyland January total sales fell 2% to 7,711 units. Great Offshore quarterly net profit slumped 96%. GlaxoSmithKline third quarter net profit surged 58%. National Aluminium increased prices by 5%. Voltas Limited third quarter net profit declined 7%.

Nippon Steel, Sumitomo Metal to Merge; Sony Sales Fall 1.4%

Nigel Thomas
03 Feb, 2011
New York City

Two largest steelmakers in Japan, Nippon Steel Corp and Sumitomo Metal Industries Ltd agreed to merge to form the second largest global steel maker. Rising input prices played a role in the merger. Mitsubishi UFJ Financial said nine-month net rose. Sony Corp third quarter revenues declined 1.4%.

Cyclone Yasi Damage Worries; Australian Stocks Up

Marcus Jacob
03 Feb, 2011
New York City

Australian stocks closed higher as Cyclone Yasi makes its way inlands in North Queensland. Homes, power lines and trees are flattened as the powerful storm covers a vast area. Tabcorp earnings rose 2.9% and declared dividend of 24 cents.

U.S., European Markets, Commodities Flat

Bikram Pandey
02 Feb, 2011
New York City

U.S. stocks were lackluster after a strong finish yesterday as events in Middle East overshadowed earnings parade. European indexes traded sideways as crude oil and copper and silver traded near their highs. Electronic Arts rose on forecast and Time Warner gained on 22% rise in earnings.

U.S. Movers: AOL, Broadcom, Lubrizol, Time Warner, Whirlpool

Mukesh Buch
02 Feb, 2011
New York City

AOL revenues decreased 26% to $596.0 million. Broadcom revenues increased 45% to $1.95 billion. Time Warner fourth quarter total revenues increased 8% to $7.8 billion. Whirlpool reported fourth quarter total sales increased 4% to $5.0 billion.

UK Construction Index Up; Imperial Tobacco Rises 5%

Marcus Jacob
02 Feb, 2011
New York City

UK stocks led the European markets as resource heavy index gained more than 0.5%. UK construction activity rebounded in January after a weather-related slowdown in December. Imperial Tobacco quarterly sales rose 5% and ICAP Plc guidance met market estimate.

European Markets Struggle; Scania, Sandvik, Atlas Copco Down

Bikram Pandey
02 Feb, 2011
New York City

European markets closed mixed with a lower bias after several Scandinavian companies reported earnings misses. Atlas Copco, Scania and Sandvik fell on lower than expected results. BMW said U.S. sales rose 21% and Mercedes-Benz U.S. sales rose 11%.

U.S. Companies Add 187,000 Jobs; Oil, Copper in Focus

Bikram Pandey
02 Feb, 2011
New York City

U.S. stocks struggled in early trading after private sector added 187,000 jobs in January. Services added 166,000 jobs. U.S. auto sales in January increased 17%. AOL, IAC/InterActiveCorp and The Nasdaq OMX Group earnings rose.

India Stocks Rebound; Jet Air Net Up, Hero Honda Net Down

Devan Biswas
02 Feb, 2011
New York City

Stocks in Mumbai bounced off from the lows on higher auto sales and rising corporate profits but investors worries that elevated commodities prices and inflation may hobble future earnings. Jet Air net rose 12% and Bajaj Auto unit sales rose 18%.

India Movers: Bajaj Auto, Hero Honda, Unitech

Mukesh Buch
02 Feb, 2011
New York City

Bajaj Auto declined after January sales rose 18% to 313,583 units. Hero Honda plunged 5% after third quarter net profit declined 20%. NMDC third quarter net profit soared 81.4%.

Casio, Nomura, NTT Data Earnings Lift Tokyo Stocks

Marcus Jacob
02 Feb, 2011
New York City

Stocks in Tokyo gained more than 1.5% for the second day in a row as companies report better than expected earnings. Resource linked stocks gained after copper and nickel trade higher. Nomura, Casio, NTT Data report higher earnings. Toyota, Nissan and Honda U.S. auto sales increase more than 13%.

Australian Indexes Rise 0.9%; Cyclone Yasi Worries

Devan Biswas
02 Feb, 2011
New York City

Australian stocks closed higher as metals and crude oil prices rise in international markets. Insurers face another round of losses as Cyclone Yasi approach eastern shores. Copper, tin and nickel surged as mines in Queensland shutdown.

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