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Aug 01, 2010, 03:23 PM (GMT+8) |
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Evening Wrap
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Morning Call |
Afternoon Update |
Evening Wrap
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| Last Updated: 30-Jul-2010
6:00 pm
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| GlobalScan |
- Nomura Said to Hire 40 Students as Global Bankers at Triple Pay
- Sinopec Says BP Declined Its Offer to Buy Some `Good' Assets After Spill
- Total Reports 72% Increase in Profit After Raising Production
- PPR First-Half Profit Rises 87%, Boosted by Clothing Demand Outside Europe
- Michelin First-Half Profit Beats Estimates as Demand Recovers
- L'Oreal Heiress Bettencourt's Financial Adviser De Maistre Held by Police
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| LocalScan |
Market Highlights for the evening session will be updated at 6.00 p.m.
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| FeaturedHeadline |
Asian Stocks Decline on Japanese Economic Data, Macquarie Profit Outlook
Asian stocks fell, dragging down the MSCI Asia Pacific Index by the most in almost two weeks, as higher-than-estimated unemployment in Japan and a poorer Macquarie Group Ltd. earnings outlook overshadowed increased profit targets at Sony Corp. and Panasonic Corp. Mizuho Financial Group Inc., Japan's third-largest lender by market value, lost 1.4 percent amid concerns about the health of the world's second-largest economy. Macquarie, Australia's biggest investment bank, slumped 3.1 percent after saying some of its businesses are set to report lower earnings. Sony and Panasonic, the world's largest consumer-electronics makers, climbed more than 3.5 percent in Tokyo. The MSCI Asia Pacific Index sank 0.5 percent to 119.19 as of 5:48 p.m. in Tokyo, the biggest drop since July 19. Today's drop pared the measure's advance this month to 5.7 percent, the most since March. The gauge has slumped 7.7 percent from its high this year on April 15 on concern Europe's debt crisis and Chinese steps to curb property prices will slow global growth. The Nikkei 225 Stock Average fell 1.6 percent in Japan, where a government report also showed industrial production sank unexpectedly. Australia's S&P/ASX 200 Index and South Korea's Kospi Index declined 0.7 percent. Hong Kong's Hang Seng Index lost 0.3 percent. China's Shanghai Composite Index dropped 0.4 percent.
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European Stocks Decline Before U.S. GDP Data; Lafarge, Gamesa Lead Drop
European stocks fell for a third day before a report on U.S. gross domestic product that may show growth slowed in the world's largest economy. Asian equities and U.S. index futures retreated. Lafarge SA led a selloff in construction-related companies after the world's largest cement maker cut its outlook for demand. HeidelbergCement AG retreated 3.6 percent as earnings trailed estimates. Gamesa Corporacion Tecnologica SA slumped 10 percent after the Spanish maker of wind turbines reduced its sales forecast. Alcatel-Lucent SA rallied 6.8 percent after confirming its full-year margin targets. The Stoxx Europe 600 Index declined 0.4 percent to 255.19 at 10:06 a.m. in London, trimming its first monthly gain since March to 4.9 percent. The gauge is down 6.2 percent from this year's high on April 15 amid concern that austerity measures from indebted European governments will hurt economic growth.
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