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Ninth Decline in 10 Days in Iron Ore Prices, Australian Indexes Dive

Marcus Jacob
26 Jun, 2015
New York City

Australian market indexes traded down and extended weekly losses after iron ore prices declined for the ninth time in the last ten days as traders eye $60 a ton price for China delivery. Bradken plunged 13% after it agreed to an investment deal with a consortium of private equity groups.

Potash Corp Offers

Nigel Thomas
26 Jun, 2015
New York City

K&S received

RBI Flags Tougher Times for Banks in India, $3 B Capital Injection

Mukesh Buch
26 Jun, 2015
New York City

RBI warns in its semi-annual report that the asset quality at Indian banks is likely to worsen. Indian government may be forced to inject as much as $3 billion in banks in the current fiscal year.

Indexes Struggle on Wall Street and Europe, Robust U.S. Consumer Spending

Nichole Harper
25 Jun, 2015
New York City

Stocks on Wall Street turned lower on stretched valuations and investors digested jobless claims and consumer spending reports. Consumer spending increased at the fastest pace in six years in May on rising demand for automobiles and other durable goods.

Nikkei in Downward Draft, J. Front Estimates Higher Sales

Hiruki Nakamura
25 Jun, 2015
New York City

Nikkei average in Tokyo closed down and the yen weakened after Greek debt collapsed and U.S. revised its first-quarter economic growth. J. Front Retailing reported first-quarter sales declined 0.1% but estimated sales to rise 2.4% in the first-half.

Accenture, Lindsay Rise; Barnes & Noble, Bed Bath & Beyond, Cree Fall

Mukesh Buch
25 Jun, 2015
New York City

Accenture lifted fiscal outlook. Barnes & Noble net loss narrowed and revenues plunged 10%. Bed Bath & Beyond net declined 15%. Cree plunged on weak forecast. Lindsay profit tumbled 22%. Shaw Communications net dropped 8%.

Australian Indexes Fall 1% on the Weight of Greek Worries

Marcus Jacob
25 Jun, 2015
New York City

Australian indexes traded down nearly 1% and energy and resource sector stocks led decliners. Gold and crude oil prices closed nearly unchanged. Collins Foods, the operator of fast food franchises, reported 30% increase in revenues but swung to a loss in the year.

UK to Divest Stake in GIB; DS Smith, Hennes & Mauritz Net Jump

Nigel Thomas
25 Jun, 2015
New York City

The UK Government plans to trim its stake for as much as

Modi Unveils Ambitious $70 B Housing and Urban Development Plan Across India

Mukesh Buch
25 Jun, 2015
New York City

Prime Minister Modi unveiled three pronged plan to kick off housing projects, build smart cities and provide infrastructure to smaller cities. The ambitious plan calls for government spending of $70 billion over the next seven years. Investors took positive view of the plan and bid up stocks.

S&P 500 Turns Lower, U.S. Economy Shrank at a Slower Pace

Nichole Harper
24 Jun, 2015
New York City

Market indexes on Wall Street traded lower and the U.S. economy shrank at a slower pace than previously estimated last month. Crude oil and gold eased. European markets declined after Greece and international lenders failed to agree on a compromise.

3M to Buy Capital Safety, Netflix Announces 7-1 Stock Split

Mukesh Buch
24 Jun, 2015
New York City

3M agreed to acquire Capital Safety for $2.5 billion. Carnival net more than doubled. Monsanto profit surged 33% on 8% increase in revenues. Lennar net and revenues climbed 33%. Netflix plans for a 7-for-1 stock split.

Ahold and Delhaize Confirm to Merge, Bouygues Rejects Altice Offe

Nigel Thomas
24 Jun, 2015
New York City

Ahold and the Belgium-based Delhaize agreed to merge and Ahold terminated its stock buyback program and announced

Nikkei Extends Gains, Yen Edges Lower

Hiruki Nakamura
24 Jun, 2015
New York City

Stocks in Tokyo extended gains and the yen weakened. Konica Minolta agreed to acquire the U.S. based Radiant Vision System for 30 billion yen. Nomura Research estimated higher sales and earnings in the current fiscal year.

In Australia PMS to Acquire Skilled Group, Flight Centre Plunges Again

Marcus Jacob
24 Jun, 2015
New York City

Australian market indexes closed flat in active trading and Programmed Maintenance Services agreed to acquire rival Skilled Group Ltd for A$652 million. Myer Holdings refinanced A$600 million bank debt with better terms. Flight Centre Travel Group plunged for the second day in a row.

Sensex Halts 8-Day Advance, Monsoon Intensifies Across India

Mukesh Buch
24 Jun, 2015
New York City

Strong monsoon rains supported market advance in Mumbai at the opening. However, Sensex halted 8-day rally after the collapse of Greek talks in the euro zone. JBM Auto launched its manufacturing plant in Sanand, Gujarat.

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