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Market Update

Australian Profits, Current Account Deficit Rise

Darlington Musarurwa
01 Mar, 2010
New York City

Australian benchmark index gained on higher resource stocks and commodities prices. Company profits increased 2.2% in the last quarter. Rio Tinto raised its stake by 2.7% in Canada based Ivanhoe Mines. Australian current account deficit rises 19% to A$17.5 billion in December.

Tokyo Stocks Advance; Auto Sales Surges 35%

Darlington Musarurwa
01 Mar, 2010
New York City

New car sales in Japan surges 35.1% in February. Finance Minister Kano told lawmakers that he wants prices to rise by the end of the year and hopes that aggregate demand will improve.

Deals of $43 Billion Drive U.S., Europe Stocks

123jump.com Staff
01 Mar, 2010
New York City

Three deals worth $43 billion lifted market sentiment. Personal spending gained more than expected and personal income increased less than anticipated. The dollar strength led commodities to decline but copper closed higher.

Greece Bailout Talks Lifts European Markets

123jump.com Staff
01 Mar, 2010
New York City

European markets indexes closed up 2% on a speculation that Greece is inching closer to a bailout package of

UK Stocks, Pearson Rally; HSBC, Prudential Drop

Mayank Mehta
01 Mar, 2010
New York City

UK stocks closed higher on a rally in resource stocks and commodities. Prudential Plc dropped 12% after it agreed to acquire Asia unit of AIG for $35.5 billion. Pearson plc increased after it reported better than expected earnings. HSBC declined 5.2% after it reported higher loan loss charges.

U.S. Stocks Advance; Manufacturing Slows

123jump.com Staff
01 Mar, 2010
New York City

U.S. stocks advanced after manufacturing expanded for the seventh month in a row. AIG agreed to sell its Asian unit to Prudential Plc for $35.5 billion. Merck KGaA agreed to pay $6 billion beating the offer from Thermo Fisher for Millipore. Copper gained nearly 2%.

Prudential Buys AIG Asian Unit for $35.5 Billion

123jump.com Staff
01 Mar, 2010
New York City

AIG agreed to sell its Asian unit for $35.5 billion to Prudential Plc. The deal will help the troubled U.S. insurer to raise capital to repay U.S. Federal Reserve and Treasury $185 billion bailout. Prudential will raise $20 billion in a rights offering at 40% discount.

Asian Markets Higher; Copper Surges

123jump.com Staff
01 Mar, 2010
New York City

Asian markets closed higher after resource stocks gained in China, Japan and Australia. Copper surged in Asian trading after Chile was struck with 8.8 magnitude earthquake. Insurance stocks gained after Prudential Plc agreed to pay $35.5 billion for Asian insurance division of AIG.

J.C. Penney Q4 2009 Earnings Call Transcript

123jump.com Staff
01 Mar, 2010
New York City

Sales fell 3.6% to $5.55 billion and net income fell 5% to $200 million or 84 cents a share. Gross margin rate was 38.2% for the quarter, an increase of 360 basis points versus last year

Nokia Corp. Q4 2009 Earnings Call Transcript

123jump.com Staff
01 Mar, 2010
New York City

Sales fell 5.5% to

S&P 500, Nasdaq in Feb Up; AIG Drops 10%

123jump.com Staff
26 Feb, 2010
New York City

President Obama''s bipartisan summit on healthcare reform appears to be heading for a stalement. AIG led the decline in S&P index after fourth quarter loss narrowed to $8.9 billion. The Nasdaq Composite added 4.2%, the S&P 500 index increased 2.9% and the Dow advanced 2.6% in February.

UK GDP Revised Up; Lloyds Loss Shrinks

123jump.com Staff
26 Feb, 2010
New York City

Serco Group 2009 net surged 31% and indicated larger order book. Rightmove Plc 2009 profit before tax falls and maintains dividend. Rolls-Royce announced

European Markets Rally; Gobain, Parmalat Shine

Mayank Mehta
26 Feb, 2010
New York City

European markets rallied on the expectations that Germany is closer to providing details of financial assistance to Greece. Bayer AG net for the year dropped 21%. Parmalat SpA 2009 net declined 23% on sales decline of 1.5%. Telefonica SA fourth quarter net surged 22% on Latin American businesses.

AIG, Weight Watchers Falls; Rosetta Stone Rise

Mayank Mehta
26 Feb, 2010
New York City

American International Group, Inc led the decliners in the S&P 500 index with a loss of 7.8%. Fluor Corp reports lower profit and cuts outlook. The Gap, Inc fourth quarter net ahead of expectations.

India Targets Lower Debt, Higher GDP in 2010

Mayank Mehta
26 Feb, 2010
New York City

The fiscal 2011 budget plan to raise $8 billion in stake sale in the government controlled companies and $7 billion through the sale of wireless licenses. Individual income of less than $3,000 will be tax exempt. Infrastructure companies increased after the government increased spending.