ticker

Japan Sought China, Korea Cooperation in Currency Management

Chandrasekhar Atreya
13 Oct, 2010
New York City

Japanese stocks moved in a narrow range to close little changed. The yen weakens for the first time in five days but stayed near 15-year highs. Used automobiles sales surge in September after the subsidies expired. Japan asks China and South Korea to act in concert to ensure stability of the yen.

Fitch Says Australian Banks Pass Stress Tests

Chandrasekhar Atreya
13 Oct, 2010
New York City

Stocks in Australia stayed little changed after fluctuating several times. Consumer confidence rises in October. Resource stocks are expected to rise as iron ore prices increase ahead of rebuilding of stocks in China. Australian banks have sufficient capital to withstand 40% decline in home prices.

Fed Minutes Lift Hopes for U.S. Stimulus; Oil Eases

Devan Biswas
12 Oct, 2010
New York City

U.S. stocks rebounded after the Fed minutes noted its willingness to buy more U.S. Treasuries. Banks and consumer sector stocks closed higher. The dollar struggled as the markets in Asia and Europe closed lower.

Google, King Pharma, ActivIdentity Rise; Global Payments Fall

Bikram Pandey
12 Oct, 2010
New York City

U.S. stocks traded lackluster as the dollar edged lower and commodities traded near recent highs. Google Inc increased 1% after it formed a joint venture to distribute electricity. King Pharmaceuticals soared on a takeover agreement with Pfizer.

UK Retail Sales, Home Prices Fall; Slower Economic Growth

Arthi Gupta
12 Oct, 2010
New York City

The UK indexes slid after retail sales growth slackened and home prices fell in September. The UK economy slowed in the third quarter but annual inflation remained at 3.1% in September and trade deficit narrowed in August.

German WPI Rises; French Current Account Deficit Widens

Arthi Gupta
12 Oct, 2010
New York City

The European indexes gained after German inflation and WPI rose in September. French current account deficit widened in August and Holland recorded trade surplus of

U.S. Stocks Decline; Pfizer Acquires King Pharma for $3.6 Billion

Darlington Musarurwa
12 Oct, 2010
New York City

U.S. stocks traded lower ahead of the minutes of FOMC meeting. Pfizer agreed to buy King Pharma for $3.6 billion. Chevron sold 23.44% Colonial Pipeline stake to the private equity group KKR. Dollar Tree agreed to buy Canada based Dollar Giant Store for more than $50 million.

Slower Growth in Industrial Output in India Drags Sensex Down

Chandrasekhar Atreya
12 Oct, 2010
New York City

Stocks in Mumbai fell after the industrial output increased sharply lower. Rupee closed lower. Industrial production index increased 5.6% in August and in the first five months the index was up 10.6% compared to a year ago. Coal India is expected to raise as much as $35 billion.

Shanghai Stocks in Five-month Rally

Chandrasekhar Atreya
12 Oct, 2010
New York City

Stocks in Shanghai continued their rally to reach a five-month high aided by commodity stocks. Banks closed lower after China temporarily increases the reserve ratio of some large banks to curb liquidity. China Vanke sales nine-month sales soared more than 50%.

Nikkei Drops 2.1%, Yen Surges

Chandrasekhar Atreya
12 Oct, 2010
New York City

The yen resumed its ascent and closed at 15-year high against the dollar and record high against the euro. The benchmark index Nikkei dropped 2.1%. Household sentiment drops in September. Japan is likely to surpass China and as the largest holder of U.S. Treasuries. The two nations hold $1.66 trillion of U.S. debt.

Sell-off Grips Sydney Stocks; Business Confidence Declines

Chandrasekhar Atreya
12 Oct, 2010
New York City

Australian shares closed lower in a broad sell-off after business confidence fell in September even though business conditions index rose. Karoon Gas proposes to list its South American asset in a public offering in Brazil. Conquest Mining is looking to raise as much as $100 million.

World Markets Volatile, Record in Gold, Silver and Copper

Devan Biswas
11 Oct, 2010
New York City

U.S. stocks turned volatile in the final hour. Gold closed at a record high and the yields on U.S. Treasuries hovered near recent low. The U.S. dollar traded mostly lower against major currencies. Copper closed at a 2-year high, silver at 30-year high and gold closed at a new record.

Gymboree, Chesapeake, LDK Solar and Warner Chilcott Rise

Bikram Pandey
11 Oct, 2010
New York City

Gymboree surged after the company agreed to go private. Warned Chilcott soared more than 7% after the company received regulatory approval for its drug to treat osteoporosis. LDK Solar surged more than 10% after it lifted revenues outlook.

UK Indexes, Pound Rise; KNOC Inches Closer to Acquire Dana

Arthi Gupta
11 Oct, 2010
New York City

The UK indexes and the pound gained after the world leaders meeting failed to settle the rising tensions in the currency markets. Irish manufacturing output declined in August. KNOC received acceptances of 89% Dana Petroleum shares. Weir Group confirmed completion of BDK acquisition.

French Industry Growth Stagnates; Statoil, Talisman JV of $1.3 B

Arthi Gupta
11 Oct, 2010
New York City

The European indexes rose on expectations that the U.S. Fed will increase asset purchases. French industry growth remained flat in August and Italian industrial production surged. Talisman and Statoil announced joint venture worth $1.3 billion in Eagle Ford Shale property.

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