Angus Gluskie News
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Japanese and Australian stock futures rose after manufacturing in the U.S. unexpectedly grew in April at the fastest pace in 10 months, boosting the outlook for Asian exporters.
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Asian stocks fell for a fourth day as political uncertainty in Europe sparked concern the region will struggle to contain its debt crisis.
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Japanese shares dropped for a fourth day after the Dutch prime minister resigned over austerity measures, deepening concern over Europe’s debt crisis, and a leading gauge of China’s economic growth slowed.
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Japanese and Australian stock futures fell as Europe’s backlash against budget cuts intensified with the resignation of Dutch Prime Minister Mark Rutte and as services and manufacturing output in the euro zone contracted, damping the outlook for Asian exporters.
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Japanese stock futures were little changed after a bigger-than-expected increase in U.S. retail sales countered lingering concerns that Europe’s sovereign-debt crisis is spreading. Australian equity futures rose.
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Asian stocks fell for a second day, extending last week’s loss, amid concern exporter earnings are deteriorating and that Chinese banks may have understated the risks of loans to local governments.
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Asian stocks rose for a second day as Greece struck a deal with creditors to help Europe contain its debt crisis and slowing inflation gave Chinese authorities room to stimulate growth in the world’s second largest economy.
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Australian equities headed for a weekly advance after U.S. manufacturing rose and jobless claims dropped, adding to signs the world’s biggest economy is recovering. Japanese stock futures fell as the yen rebounded and a technical indicator showed signs of overheating.
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Australia & New Zealand Banking Group Ltd., the worst performer among Australia’s four largest bank stocks this year, posted second-half profit that missed analyst forecasts after volatile markets eroded trading profit.
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Rupert Murdoch’s recent setback in Australia is giving investors the chance to make the largest profit on any pending acquisition in the world.
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