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Market Update

Indexes Set Records on Wall Street


Author: Nichole Harper
ticker.com
Last Update: 1:01 PM ET November 11 2014

12:55 PM New York Market indexes on Wall Street struggled to advance after a weak start. Bond market and the federal government were closed on Veterans Day today. European markets traded sideways. The Nikkei and Topix indexes in Japan closed at multi-year highs.

Market indexes on Wall Street opened lower after indexes advanced for four days in a row and reached new highs.

Broader averages turned higher and may close higher matching a five-day surge registered in the summer.

Tollbooth Index, the index tracking 45 companies with the rising bargaining power, edged up 0.04% or 3.74 to 9,810.44.

S&P 500 index edged up 0.76 or 0.03% to 2,038.74 and the Nasdaq Composite Index rose 4.30 or 0.09% to 4,655.82.

For the year, S&P 500 index advanced 10% and the Tollbooth Index has gained 9%.

U.S. Movers

CST Brands Inc (CST) fell 13 cents to $39.62 after the retailer of convenience goods and fuel said revenue in the third-quarter ending in September dropped 3% to $3.22 billion from a year ago period.

Net income in the quarter surged 50% to $63 million or 83 cents a diluted share compared to $42 million or 56 cents from a same quarter last year.

D.R. Horton, Inc (DHI) climbed 3.2% or 75 cents to $24.19 after the home builder reported net sales in the fourth-quarter ending in September soared 38% to $2.4 billion from a year ago period.

Net income in the quarter climbed 19% to $166.3 million or 45 cents a diluted share compared to $139.5 million or 40 cents from a same quarter last year.

European Markets

In London trading, FTSE 100 index slid 0.07% or 4.41 to 6,606.84 and in Frankfurt the DAX index fell 0.1% or 11.07 to 9,340.80.

In Paris, CAC 40 index rose 0.2% or 9.38 to 4,232.20.

In the European corporate news, Maersk net surged 25% $1.50 billion. BMW October sales soared 11%. Henkel fell 4% to 440 million but kept sales and earnings outlook.

Henkel AG & Co KGaA, the Germany-based consumer goods and laundry products maker reported sales in the third-quarter ending in September rose 1.2% to 4.24 billion from 4.18 billion a year ago period.

Net profit in the quarter declined 3.9% from a year ago to 440 million compared to 458 million and diluted earnings per share slipped to 1 from 1.05.

The company said sales in all three units and emerging markets were stronger than a year ago, despite lower North American sales.

The company lifted its profit margin forecast while maintained sales and earnings per share growth.

UniCredit SpA, the Italy-based financial service provider said revenues in the third-quarter ending in September dropped 3.2% to 5.55 billion from 5.66 billion a year ago period.

Group net profit in the quarter surged 79% from a year ago to 722 million compared to 204 million and earnings per share jumped to 0.42 from 0.22.

Vodafone Group Plc, the U.K.-based mobile company reported group revenue in the first-half ending in September climbed 8.9% to 20.75 billion from 19.06 billion a year ago period.

Profit in the period plunged 69.5% from a year ago to 5.50 billion compared to 18.06 billion and diluted earnings per share dropped to 20.37 pence from 67.23 pence.

Asian Markets

Topix Index, the broader Japanese equity market index closed at a six-year high and the yen deepened losses in the year.

The Nikkei 225 Stock Average soared 2.1%, the highest close since 2007. Chiyoda Corp reported quarterly net dropped 20%.

The Bank of Japan said total bank lending in October climbed 2.4% compared to 2.3% increase in September.

The Nikkei 225 Stock Average climbed 343.58 or 2.1% to 17,124.11 and the broader Topix index jumped 15.10 or 1.1% to 1,375.21.

The yen closed at 115.41 against one dollar.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc