May 12, 2011 8:33 AM ET
Stocks in Mumbai dropped sharply tracking losses in international markets despite a sharp fall in oil price. The benchmark index declined 1.4%. Industrial production index in March surged 7.3% but wholesale price index hovered near the recent high. The dip in crude oil price lifted airlines.
May 12, 2011 8:03 AM ET
Stocks in Japan dropped sharply led by resources and commodities linked stocks. Hitachi Ltd said fourth quarter net quadrupled on cost cuts and higher sales of construction equipment and chips. Inpex, Mitsui, Mitsubishi and JX Holdings led the decliners.
May 12, 2011 8:05 AM ET
Australian stocks dropped 1.8% after crude oil prices plunged more than 5% in New York trading. Resource and energy complex stocks led the decliners. Optus estimated slower earnings and revenues growth in the current fiscal year. Bluescope Steel estimated full year loss.
May 11, 2011 7:02 PM ET
U.S. indexes dropped more than 1% after crude oil plunged 5.5%. Higher than expected supplies in the weekly report dragged the oil lower and gasoline plunged 8%. Precious metals closed lower. Earnings lifted European stocks and inflation in China kept investors on the sidelines in Asia.
May 11, 2011 11:08 AM ET
Dean Foods first quarter net income fell to $25 million. Enbridge first quarter net income rose 15% to $393 million. Macy’s first quarter net income surged to $131 million. Rovi first quarter net income declined to $17.0 million. Walt Disney second quarter net income fell 1% to $942 million.
May 11, 2011 10:57 AM ET
Bank of England lowered its economic growth views for 2011 and 2012 and lifted inflation warning to as high as 5%. Separately, UK trade deficit increased in March. HSBC declined after it plans to trim costs as much as $3.5 billion and ITV fell on weaker advertising outlook.
May 11, 2011 10:03 AM ET
U.S. turned lower in the morning after trade deficit widened on higher oil price and sustained imports. China reported inflation of 5.3% and bank loans rose at a slower pace. Walt Disney quarterly net missed earning estimates. Spectrum Brands gained on better than expected sales.
May 11, 2011 9:17 AM ET
European stocks inched higher as earnings lifted trading sentiment despite the ongoing worries linked to Greece. German Chancellor Angela Merkel said Greece must do its part in rebuilding its economic foundation. Maersk and Hermes gained more than 4% on better quarterly results.
May 11, 2011 8:19 AM ET
Stocks in Mumbai traded in a tight range as banks, real estate developers and resources linked stocks led the most active list. State Bank of India lifted prime lending rate by 75 basis points following an increase of 50 basis points by the RBI. Oracle Financial Services soared 11%.
May 11, 2011 7:36 AM ET
Stocks in Japan closed higher for the second day in a row. The yen weakened but held firm. Finance Ministry report showed that the central bank conducted only one currency intervention in the quarter to March.