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Sensex Soars 2% on International Demand for Coal India IPO

Chandrasekhar Atreya
21 Oct, 2010
New York City

Stocks in Mumbai surged tracking gains in the international markets, steady foreign fund flows and strong interest in Coal India IPO. Environmental ministry rejects Vedanta

China

Chandrasekhar Atreya
21 Oct, 2010
New York City

China reported a robust economic expansion in the third quarter. However, 9.6% growth was the third decline in a row but still kept regulators worried on the resurgent inflation. The two inflation measures, CPI and PPI rose in September. China Mobile quarterly earnings rose only 3.5% as competition eats into margins.

Yen Hovers at 15-year High; Same Store Sales in Japan Rise

Chandrasekhar Atreya
21 Oct, 2010
New York City

Japanese stocks fluctuated and dropped for a second day to close little changed after the yen hovered near its 15-year highs. Toyota recalls 1.53 million vehicles. Toshiba Corp swung to profit in the first half. Same store sales at convenience stores rose 12.9% in September and third monthly increase in a row.

Australian Stocks Flat; Coles, Newcrest Revenues Rise

Chandrasekhar Atreya
21 Oct, 2010
New York City

Australian shares after trading higher in the morning boosted by resource stocks but lost most of the gains at close. Gold output at Newcrest Mining rises 79% in September quarter. Coles reported 5% increase in revenues in the quarter to September

U.S. Stocks Rebound on Earnings

Bikram Pandey
20 Oct, 2010
New York City

Stocks rebounded after better than expected earnings from banks and industrial companies. Crude oil and metals rebounded. Federal Reserve regional survey indicated that U.S. economy is recovering at modest pace. UK government announced sharp budget cuts.

UK Proposes Sharp Budget Cuts

Darlington Musarurwa
20 Oct, 2010
New York City

The UK indexes traded sideways after Chancellor Osborne unveiled significant budget cuts that will also see a reduction in nearly half a million public sector jobs. The BoE policy makers were divided on quantitative easing in the latest meeting.

US Movers: Altera, Morgan Stanley, J&J and Yahoo

Mukesh Buch
20 Oct, 2010
New York City

Altera declined 2% after sales soared 84% and net soared nearly three-fold. Domino

German PPI Soars; BASF Lifts Outlook, Peugeot Sales Up 10%

123jump.com Staff
20 Oct, 2010
New York City

The European indexes gained after German PPI surged in September. Dutch consumer confidence unexpectedly improved in October. BASF SE lifted its 2010 sales outlook. PSA Peugeot Citro

U.S. Mortgage Activities Index Falls; Morgan Stanley Net Falls

Arthi Gupta
20 Oct, 2010
New York City

U.S. stocks traded higher and mortgage applications and refinancing activities declined. U.S. Treasury announced plans to sell rest of its stake in Citigroup. Morgan Stanley revenues declined 20% and net slumped 67%. Boeing Company swung to quarterly profit. Yahoo third quarter revenues flat.

India Movers: Bajaj Holdings, CEAT, BP, Oberoi Realty

Mukesh Buch
20 Oct, 2010
New York City

Bharat Petroleum increased 1% after government plans to pay subsidies of $2.2 billion for the six months in the current fiscal year. Bajaj Holdings & Investment Ltd second quarter net doubled. CEAT Limited quarterly net plunged 75%.

China Stocks Brave Sudden Rate Hike; HK Stocks Fall

Chandrasekhar Atreya
20 Oct, 2010
New York City

Stocks in China rallied from the earlier lows after the surprised rates increase but Hong Kong stocks declined. China contradicted the U.S media reports and said exports of rate earth minerals will continue and may gain momentum. Morgan Stanley gets approval to sell China International Capital.

Coal India, SBI Bond Offerings in Demand; Tax Collection Up 19%

Chandrasekhar Atreya
20 Oct, 2010
New York City

Stocks in Mumbai closed lower tracking weak sentiment in the international markets after China raised rates. Coal India IPO received 1.71 times subscription on the second day and State Bank of India bond offerings attracted 17 times. Direct tax collections for the six months of the fiscal year soared 19%.

Nikkei in Tokyo Drops 1.7% as China Lifts Rates

Chandrasekhar Atreya
20 Oct, 2010
New York City

Japanese stocks fell sharply after China increased interest rates in a surprise move overnight. Chinese Premier plans to meet leaders of Japan and South Korea in Vietnam. Japan steps up monitoring of funds managed by securities industry.

Australian Dollar and Stocks Drop; Imports Up 5%

Chandrasekhar Atreya
20 Oct, 2010
New York City

Australian shares fell after China increased interest rates and the Australian dollar edged lower. Vacancies for skilled jobs fall 10% in October. September merchandise imports into Australia rises 5%.

Banks Drag U.S. Stocks Lower; Metals, Oil Fall

Bikram Pandey
19 Oct, 2010
New York City

Stocks fell sharply on Wall Street after earnings jitters and mortgage bonds worries. Banks may be forced to pay for failed or depressed mortgages and bond holders demand higher accountability. Apple fell on earnings outlook and IBM fell after services revenues fell in the quarter.

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