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Ericsson, Financials Lift Stocks
Apr 25, 6:23 PM EDT |
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| ProSiebenSat.1 fell 26% after it reported first quarter loss 8.5 million euros and revenue fall of 2% to 729 million euros. |
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| European markets edged higher on rising commodities, energy and financial stocks. UK reported its first quarter 2008 GDP growth of 0.4% after rising at 0.6% in fourth quarter of 2007. Crude oil futures rebounded on continued supply disruptions from Nigeria, new troules in the Middle East and BP action ahead of strike. Ericsson surged after it reported rise in sales and better than expected earnings. Valeo SA, auto parts maker rose after earnings rise on cost cutting. |
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Oil Up $2, Techs Down, Financials Rally
Apr 25, 5:27 PM EDT |
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| Crude oil futures rebounded after trouble in the Middle East, oil supply disruption in Nigeria and BP pipeline closure. |
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| U.S.stocks traded in a tight range after a hectic day of earnings. Microsoft earnings declined and issued a cautious guidance for the rest of the year. American Express earnings and revenue declined but international markets showed healthy gains. Energy producers rose after oil and commodities rebounded. Dollar traded firm against euro and pound. |
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Honda, Nomura Earnings Fall
Apr 25, 3:39 PM EDT |
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| Core consumer prices in March in Japan rose 1.2% after rising at a rate of 1% in February. |
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| Nomura Holdings reported first quarter loss of 154 billion yen compared to a profit of 33 billion yen from a year ago. The largest brokerage firm in Japan set aside $1.5 billion to cover bond insurance losses. Nomura fell 12% and dragged Daiwa Securities 9% as well. Quarterly trading revenue declined 80%. For the year 2007 Nomura reported a loss of 68 billion yen compared to a gain of 176 billion yen in 2006. |
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Weekly Gains in HK and Shanghai
Apr 25, 2:58 PM EDT |
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| Stocks in HK and Shanghai gained on rising confidence, growing earnings and return of individual investors. |
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| Stocks in Hong Kong edged lower today but surged 5.5% for the week. In Shanghai trading stocks rose 0.8% and for the week soared 16%. The reduction in stamp duty on trading in China lifted stocks for the second day in a row. Citic Securities, Haitong Securities and China Vanke led gainers in the CSI 300 index. Air China gained 4% after it reported 147% rise in earnings. Yunnan Copper full year profit declined 47% in 2007. Bao Steel is looking to raise $8.5 in international offering. |
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Bharti Airtel, Idea Cellular Lift Stocks
Apr 25, 5:08 PM EDT |
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| Stocks in India closed higher on rising earnings from Airtel, Idea Cellular. Ambuja Cement and ACC fell. |
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| Stocks in India closed higher on earnings and despite rising inflation.
Bharti Airtel gained 9% to 920.10 rupees and led gainers in the Sensex index. The company reported 39.3% rise in net profit to 1,792.30 crore rupees on 41.8% increase net revenues to 7,446.82 crore rupees in the fourth quarter. Ideal Cellular rose 4.7% to 107.80 rupees. The company posted 44.6% rise in net profit to 278.20 crore rupees on 50.7% increase in net sales to 1,972.40 crore rupees in the fourth quarter. |
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American Express, Baidu Rise; Microsoft Declines
Apr 25, 5:09 PM EDT |
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| American Express jumped after it reported lower than expected decline in revenue and earnigs and lifted stocks of Visa and MasterCard. |
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| Tech stocks fell after a cautious outlook from Microsoft. Microsoft earnings declined 11% to $4.39 billion on nearly flat revenue of $14.45 billion. Weak guidance for the current quarter dragged the stock lower 6%. However, American Express surged 4% after it reported 11% decline in revenue and earnings. Baidu.com revenue soars 108% from a year ago. |
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