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Sydney Closes Lower; RBA Expects Resource Boom to Last

Chandrasekhar Atreya
19 Nov, 2010
New York City

Australian shares closed marginally lower and fell 1.4% for the week. BHP decides to open its rail line in Pilbara region to smaller mining companies. Fortescue plans to double its iron ore capacity in its Pilbara hubs.

FTSE Surges 1.4%, Retail Sales Rise; SABMiller Net Up

Arthi Gupta
18 Nov, 2010
New York City

The UK indexes traded higher after Ireland is negotiating a bailout package with the EU, the ECB and the IMF. The UK public borrowing surpassed expectations, retail sales rose, and gross mortgage lending fell in October. SABMiller net rose on price increases as well as growth in emerging markets.

European Indexes Climb; Current Account Deficit Rises

Arthi Gupta
18 Nov, 2010
New York City

The European indexes rose on optimism of a successful bailout plan for Ireland. Euro area current account deficit rose in September. German employment climbed in the third quarter. Dutch unemployment rate fell in October but consumer confidence improved in November. Portugal PPI rose in October.

U.S. Jobless Claims Rise, Stocks Up; Irish Bailout Package

Arthi Gupta
18 Nov, 2010
New York City

U.S. stocks gained on expectations for a resolution to the Irish debt crisis and weekly jobless claims rose 2,000 to 439,000. GM priced its public offering at $33 per share. OECD cut 2011 global growth forecast. Western Coal received C$3.3 billion merger proposal from Walter Energy.

India Movers: Axis Bank, JSW, Reliance Communications

Mukesh Buch
18 Nov, 2010
New York City

Stock in Mumbai rose. AXIS Bank fell 2.7% after it agreed to acquire Enam Securities for nearly $400 million. JSW Steel soared 3.5% on $60 million expansion plan. Reliance Communications tumbled 4.8% as government panel highlighted irregularities in 2G spectrum.

U.S. and European Indexes Diverge; Commodities Fall

Bikram Pandey
18 Nov, 2010
New York City

U.S. stocks traded sideways and European markets closed higher. Commodities and crude oil declined for the fourth day in a row. Gold and silver fell from the recent highs. The dollar declined against the yen and the euro. Europe and UK express readiness to extend financial support to Ireland.

China Region Stocks Rally; Consumer Confidence Slips

Chandrasekhar Atreya
18 Nov, 2010
New York City

China region stocks gained after falling for four days in a row. Hong Kong index surged 1.4% after U.S. retail sales rose and tighter restriction on mainland were perceived administrative and not restrictive. Consumer confidence drops in the third quarter for the first time in six quarters in China.

Nikkei Gains 2%; T&D, Tokio Marine, Sony, Canon Up

Chandrasekhar Atreya
18 Nov, 2010
New York City

Tokyo stocks gained more than 2% as the yen weakened, exporters rallied and insurance companies gained ahead of earnings. U.S. State Department removes sanctions on Inpex over nuclear supplies to Iran. Mitsubishi and Xstrata plan to double thermal coal output at their plant in Australia.

Sydney Stocks Gain; QR National IPO Attracts Foreign Investors

Chandrasekhar Atreya
18 Nov, 2010
New York City

Australian shares edged higher as miners gained and financials fell. Shareholders filed a lawsuit seeking compensation for damages from National Australia Bank. QR National offering attracts $2.6 billion in bids from overseas investors. Competition authorities blocks Franklin Supermarket sale.

India Movers: ABG Shipyard, Gravita India, Mahindra Satyam

Mukesh Buch
16 Nov, 2010
New York City

Stock in Mumbai Slumped. Ansal Housing gained 2.3% and net profit increased 107%. ABG Shipyard fell 0.4% after net profit rose 22.7%. Gravita India steeps 87.5% premium over the initial public offer price of Rs 125. Mahindra Satyam tumbled 11.8% after net profit dropped 76%.

U.S. Movers: BJ

Mukesh Buch
17 Nov, 2010
New York City

BJ''s third quarter net sales rose 4.8%. Chico''s net income increased 27%. Sina Corp. net income in the quarter surged 87%. Target earnings in the quarter rose 23% to $535 million. Warner Music Group fourth quarter total revenues decreased 13%.

UK Indexes Higher; Jobless Claims Fall

Arthi Gupta
17 Nov, 2010
New York City

The UK indexes rose after jobless claims unexpectedly dropped in October. The BoE policy makers split three ways for second month. The UK pledged support for Ireland. Experian first-half net rises.

Ireland Debt Package in Works; European Indexes Gain

Arthi Gupta
17 Nov, 2010
New York City

The European indexes advanced after the European Union confirmed support to Ireland. Euro area construction output fell in September. S&P lowered Cyprus sovereign debt ratings. Spain GDP remained unchanged in the third quarter and Sweden home prices rose in October.

U.S. Housing Starts Fall; CPI Rises 0.2%; GM IPO

Arthi Gupta
17 Nov, 2010
New York City

U.S. stocks declined after housing starts fell more than expected and the consumer price index rose in October and mortgage applications dropped as rates rose. GM boosted IPO size by 31% to 478 million shares. Sara Lee won European approval to sell business units to Unilever.

FTSE Falls 2%; Inflation Soars; Home Prices Rise

Arthi Gupta
16 Nov, 2010
New York City

The UK indexes dropped after inflation accelerated in October and home prices rose in September. RBS agreed to sell

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