Feb 16, 2009 11:10 AM ET
Stocks in India dropped sharply after the interim budeget focus on rural development and failed to offer any subsidy to businesses. Exports in the current fiscal year are expected to rise 26.4% and total international traded is expected to surge 35.5%.
Feb 16, 2009 9:19 AM ET
Hong Kong loses 10,000 jobs as the global financial crisis keep widening. Sales at Chinese major retailers rise 24.5% in January. The benchmark index in Hong Kong dropped 0.7% but in Shanghai increased 2.6%.
Feb 16, 2009 11:41 AM ET
Japan stock indexes were mixed in highly volatile trading as the government announced in a preliminary report the gross domestic product shrank at annual rate of 12.7% in the fourth quarter ended December. In the quarter the GDP declined 3.3% on weak exports adn weak consumption.
Feb 16, 2009 8:31 AM ET
Stocks in Australia dropped after the largest palette maker Brambles reported 31% fall in first half profit. However, the conglomerate Wesfarmers profit jumped. The Australian dollar dropped more than 1% against the U.S. dollar after G-7 finance ministers predict weak economic climate.
Feb 12, 2009 6:00 PM ET
U.S. stocks edged higher after retail sales gained and on optimism on the economic stimulus package. Investors are still looking for clues to the details of the economic package and bank bailout plan. Better than expected earnings at Coca Cola Company also lifted market sentiment.
Feb 12, 2009 5:42 PM ET
Weakness in autos and banks dragged markets in Europe. DAX index dropped 2.7% and CAC 40 index declined 2.1%. Volkswagen plunged 7% after the U.S. stimulus watered down the subsidies to the auto sector. Renault reported a sharp decline of 78% in earnings on 4.1% decline in sales.
Feb 12, 2009 5:41 PM ET
Stock fell 0.8% after BT Group projected that pension deficit will soar to £1 billion next year. The telecom company also reported that operating profit in the third quarter ended December 31 plunged 62% to £277 million from a year ago. Rio Tinto in US$19.5 billion deal with Chinalco.
Feb 12, 2009 3:49 PM ET
Aetna Inc gains after it reported better than expected earnings. Asiainfo Holdings, Chipotle Mexican Grill and Patni Computer Systems drop. BorgWarner and Potlatch Corporation surge. Gildan Activewear plunges 25% after the company declined to give earnings forecast.
Feb 12, 2009 12:26 PM ET
Rio Tinto will sign a US$13 billion asset sale and US$7 billion convertible note issue with Chinalco today. The sale is part of the company effort to lower its debt load. Australian employment rate rises 1.2% to 10.7 million in January.
Feb 12, 2009 5:39 PM ET
Stocks in Tokyo trading dropped sharply after a private think tank projected economic contraction at annual rate of 10.6%, the first double digit decline in more than fifty years. Separately, Bank of Japan reported 0.2% decline in wholesale price index.