French, Spanish Bond Auctions Diverge, BMW Net Up 18%
The European indexes gained and Spain completed bond auction at a higher borrowing cost and on strong earnings reports. Novartis agreed to acquire U.S.-based Fougera Pharmaceuticals for $1.525 billion. BMW quarterly net rose 18% on strong Asia sales.
Euro Area Producer Prices Climb, Hungarian Surplus Revised Up
The euro area producer price index rose less than estimated in March. Hungarian trade surplus increased in February and Belgian economy expanded in the first quarter.
Australian Stocks Ease; Earnings Decline at Harvey Norman, Westpac
Australian stocks ended lower after commodities eased in international markets. Westpac said first half net declined 25% on the rising costs of bad debts and passed on only 32 basis points of the 50 basis points rate cut. Harvey Norman reported weak re...
Comcast, MasterCard Net Up; Broadcom, Time Warner Net Fall
Comcast first quarter net surged 30% to $1.22 billion. CVS Caremark first quarter net climbed 8.8% to $776 million. Devon Energy first quarter net fell 5.5% to $393 million. IntercontinentalExchange first quarter net increased 15% to $148 mn. Wright Ex...
U.S. Movers: Broadcom, CBS, Comcast, Devon Energy, MasterCard, Time Warner
Broadcom first quarter net tumbled 61% and CBS Corp net surged 80% as licensing fee rose. Comcast first quarter net surged 30% to $1.22 billion. MasterCard first quarter net surged 21% to $682 million. Time Warner first quarter net fell 11% to $583 mil...
UK Mortgage Approvals Rise, Home Retail Plunges 11%
The UK indexes dropped after mortgage approvals rose in March. UK construction activity eased but Irish jobless rate remained flat in April. BSkyB said nine month revenues and profit rose and distanced its self from Murdoch family. Home Retail plunged ...
U.S. Private Sector Adds 119,000 Jobs, MasterCard Net Rises 21%
U.S. indexes edged lower after private employment rose less than estimated in April and March estimate was lowered. Wolverine and private equity firms agreed to acquire the parent of Payless ShoeSource for $2 billion. Ascena Retail agreed to buy Charmi...
ANZ Net Up 5%, Murdoch Faces More Calls to Resign
The Australian market index closed higher and major banks failed to pass on the latest rate cut to consumers. ANZ said first half profit increased 5% to a record high. News Corp rose on the prospect that Rupert Murdoch may be forced out after the lates...
European Indexes Higher, UBS Net Plunges 54%
The European market indexes advanced despite the rise in unemployment across the region and manufacturing activity shrank. UBS quarterly net plunged 54% but TNT swung to profit.
Euro Area Unemployment at 10.9%, German Manufacturing at 33-Month Low
Jobless rate rose in the euro area and Italy in March and manufacturing activity declined in the euro-zone in April. Hungarian industrial producer price index rose from a year ago in March.
Nikkei Higher in Thin Trading, Idemitsu Kosan Up on Earnings
Stock gains in Tokyo were limited ahead of a long weekend and elections in Europe. Exporters and auto makers were higher after the yen eased and energy sector stocks advanced after Idemitsu Kosan Co reported better than expected fiscal year earnings.
World Markets Struggle on Euro Zone Unemployment and Election Worries
U.S. stocks traded sideways after private sector added less than expected jobs in April and unemployment in Europe surged to a record high in fifteen years. U.S. auto sales rose for the sixth month in a row and BMW and Mercedes sales rose 27% in April ...
