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Market Update

Tokyo Stocks Down; Sanyo Plunges 20%

Darlington Musarurwa
05 Nov, 2009
New York City

Stocks in Japan closed lower on weak earnings and a rise in energy prices dragged chemical makers. Sanyo Electric plunged 20% after Panasonic offered 40% lower than the closing price. Toyota Motor first net plunges but it lowered annual loss to 200 billion yen.

Australian Markets Struggle; Transurban Up 19%

Darlington Musarurwa
05 Nov, 2009
New York City

Stocks in Australia fell on the worries that elevated energy prices will affect corporate profits. Transurban Group surged 19% after it rejected Canadian offer that undervalued the company. Australia

Cisco Outook Powers Techs; World Markets Up

Mukesh Buch
05 Nov, 2009
New York City

U.S. stocks surged after reports on productivity and weekly jobless claims pleased investors. CVS plunged after it reported larger than expected client losses at its pharmacy benefit division. Hyatt and Ancestry.com IPO close up. Cisco outlook powered tech stocks with the Nasdaq index up 2.4%.

India Tax Collection Rises; Patni Surges

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

Tax collection in India increased 3.9% in the first seven months in fiscal year indicating rising income of corporations and individuals. Wireless telecoms rebounded on the talks of lower connection fees. Larsen & Toubro unit and Patni are in merger discussion.

Deutsche Telekom, Ubisoft, BNP Paribas Gain

Mayank Mehta
05 Nov, 2009
New York City

The ECB left its key lending rate unchanged at 1% and indicated a gradual winding of various direct lending programs. Deutsche Telekom third quarter net profit rises 7.2%. Enel SpA third quarter net profit fell 43%. BNP Paribas third quarter profit rose 43%. Ubisoft SA surged on annual outlook.

Vedanta, Invensys, Unilever Fall in London

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

The Bank of England left its key lending rate unchanged at 0.5% and increased the Treasury bond purchase plan by

CVS, Whole Foods Drop; Cisco Rises

Mayank Mehta
05 Nov, 2009
New York City

CVS Caremark Corporation led the decliners in the S&P 500 index with a loss of 19.4%. Whole Foods plunged 15% after it reported weaker than expected earnings. Children

U.S. Stocks Rise; Rates on Hold in Europe

Mukesh Buch
05 Nov, 2009
New York City

U.S. stocks edged higher after the weekly jobless claims declined 20,000 in the last week and productivity increased at the fastest pace of 9.5%. Cisco, Whole Foods and Research in Motion traded higher. The Bank of England and the ECB left their rates unchanged.

Japan Steel Works Surges; Automakers Lag

Darlington Musarurwa
04 Nov, 2009
New York City

Japanese automakers reported a rise in U.S. sales in October but lagged the gains of Korean makers. Japan is expected to keep stricter lending rules and maintain accommodative monetary policy. Japan Steel Works surged on estimating annual profit compared to a loss a year ago.

China Stocks, Casinos Rise

Darlington Musarurwa
04 Nov, 2009
New York City

World Bank estimated that China is expected to meet its 8% economic expansion target supported by the government stimulus. Gold miners close higher on a rise in gold. Casino stocks surged after Macau casino revenues surged 42% in October.

Australian Retail Sales Fell; Westpac Warns

Darlington Musarurwa
04 Nov, 2009
New York City

Australian retail sales fell 0.2% in September and building approvals increased 2.7%. Service industry expands in October. Westpac warns of credit crunch and second half profit declined 10% to A$2.33 billion. Gold miners surged as gold closes at a record high.

Fed on Hold, Dollar Drops; Hyatt IPO

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

The Fed left its target rate range at historic low between zero and 0.25% and indicated low rates for an extended period of time as long as labor markets are weak and inflation remains low and stable. The dollar drops. Berkshire Hathaway AAA rating may be cut. Hyatt Hotels IPO scheduled tomorrow.

European Markets Rise; GM Rejects Opel Sale

Mayank Mehta
04 Nov, 2009
New York City

European markets closed higher. German automakers gained on higher U.S. sales in October. Societe Generale third quarter earnings doubled. Total SA quarterly net declined 37% on lower refining margin and lower oil price.

M&S, Next Earnings Lift UK Indexes

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

UK stocks closed higher after retailers Marks & Spencer and Next plc reported better than expected earnings. Home builders advanced on positive comments from Redrow and Taylor Wimpey. Diageo completed its $500 million bond offering.

Garmin, Con-way Plunge; Solera Soars

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

Garmin Ltd plunged 12% after it reported lower than expected revenues but a surprise rise in net. Solera Holdings surged 12% after it lifted its fiscal year earnings outlook. Trucking company Con-way Inc plunged after quarterly revenues and net fell.