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October Home Sales UP 10.1%; IMF Warns

123jump.com Staff
23 Nov, 2009
New York City

U.S. stocks traded higher after the release of better than expected existing home sales in October. European markets gained momentum after the home statistics and closed up more than 2.2%. IMF chief warned that banks have declared only half the losses.

European Indexes Gain 2.2%; Composite Index Up

Mayank Mehta
23 Nov, 2009
New York City

European benchmark indexes closed higher after commodities rallied and energy prices gained. The composite index of services and industries showed an expansion across 16-nations in the euro zone. Alstom SA was awarded

FTSE Index Up 2.2%; Lloyds

Mayank Mehta
23 Nov, 2009
New York City

The UK benchmark index rose 2.2% after a rise in commodities and energy prices. Lloyds Banking Group plans to issue

Ciena, Rambus Fall; Cigna Rises

Mayank Mehta
23 Nov, 2009
New York City

Zions Bancorporation led gainers in the S&P 500 index with a rise of 12.0%. Ciena Corp dropped 9% after it acquired optical network from Nortel. AnnTaylor Stores gained on an analyst upgrade. Mercado Libre surged 8%.

Australian Stocks Up; James Hardie Loss

Darlington Musarurwa
23 Nov, 2009
New York City

Stocks in Australia gained after commodities prices and gold edged higher. James Hardie Industries swung to a quarterly loss but projected higher than expected annual profit. Qantas plans to spend A$4.4 billion on new aircraft.

Sands China and China Longyuan IPOs

Darlington Musarurwa
23 Nov, 2009
New York City

Stocks in Hong Kong and Shanghai traded mixed as UBS warned of rising speculative attacks on the currency. Sands China Ltd completed its $2.5 billion public offering. The largest wind power generator China Longyuan Power plans to raise at least $2 billion in an initial public offering.

Reliance Negotiates LyondellBasell Acqusition

Mayank Mehta
23 Nov, 2009
New York City

Stocks in Mumbai traded higher after Reliance Industries Ltd inches closer to acquire bankrupt LyondellBasell for at least $10 billion in cash. The debt laden company is operating under bankruptcy. Royal Dutch Shell is likely to take 10% stake in Essar Oil as a part of payment for refinery sale.

World Markets Close Lower; Gold Shines

Mukesh Buch
20 Nov, 2009
New York City

U.S. stocks struggled as the world markets edged lower and commodities priced hovered near their recent highs. Gold trade above $1,150 an ounce. Michigan led the U.S. with unemployment rate of 15.1% and Florida and California registered record rate in October.

Sensex in India Above 17,000; Cox & Kings IPO

Mayank Mehta
20 Nov, 2009
New York City

Stocks in Mumbai traded higher. Rupee edged lower but traded below 46.75 to a dollar. The IPO of a tour operator Cox & Kings India Ltd is 6.2 times oversubscribed. Bhusan Steel sells 5% stake to strategic investors. Scripps Networks agreed to acquire majority stake in NDTV unit for $55 million.

European Makets Close Lower; Trichet Comments

Mayank Mehta
20 Nov, 2009
New York City

European markets closed lower. The ECB President Trichet comments suggest a gradual unwinding of economic stimulus. JC Decaux renews its exclusive advertising contacts in Shanghai. Technip awarded gas facilities contract in Abu Dhabi. Solon SE nine-month loss shrinks.

UK Stocks Settle; Gartmore Group Listing

Mayank Mehta
20 Nov, 2009
New York City

UK stocks struggled. Nationwide Building Society estimated tougher home market outlook in 2010. Home builder stocks declined. The pound decreased against the yen and the dollar on the rising deficit. Gartmore Group Ltd prepares public offering to raise

Dell, D.R. Horton Drop; Dillard's Rises

Mayank Mehta
20 Nov, 2009
New York City

Dell plunged nearly 9% after it missed quarterly revenues and earnings estimates. The Dress Barn, Inc quarterly net rises. The Gap, Inc third quarter net up 25%. Intuit Inc quarterly loss increases. D.R. Horton, Inc fourth quarter loss narrows.

Rates on Hold in Japan; Deflation Talks

Darlington Musarurwa
20 Nov, 2009
New York City

Bank of Japan keeps rate at 0.1%. Deputy Prime Minister declares Japan has slipped into deflation. Semiconductor related stocks declined after Dell reported third quarter profit decline of 54%.

Leading Indicators Index in Australia Up

Darlington Musarurwa
18 Nov, 2009
New York City

The leading indicators index in Australia rose 5.8% in September. The RBA plans to ease acceptance of mortgage loans based securities as collateral. Agribusiness AWB Limited reported full year net loss of A$250.8 million on revenues increase of 7% to A$6.69 billion.

Delta, SkyTeam Offer $1 Billion to JAL

Darlington Musarurwa
18 Nov, 2009
New York City

Delta Airlines and SkyTeam agreed to extend $1 billion to JAL. NTT DoCoMo to introduce 4G telecom service in late 2010. MUFJ and Morgan Stanley may keep brokerage operations separate, despite the expected merger.

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