Stock Indices Market Outlook
Asian stocks fell, with the regional benchmark index heading for the longest streak of weekly losses in five months, after faster U.S. economic growth fueled concern the Federal Reserve may reduce stimulus sooner than expected.
Apollo Tyres Ltd. sought to eliminate an obstacle to its $2.5 billion buyout of Cooper Tire & Rubber Inc. by offering to purchase Cooper’s Chinese unit for $147 million, a witness testified.
Walt Disney Co. dropped in extended trading after reporting lower income at cable networks including ESPN, the company’s biggest source of profit.
Salix Pharmaceuticals Ltd., a maker of drugs for gastrointestinal diseases, said it will acquire Santarus Inc. for about $2.6 billion to gain treatments for diabetes and heartburn.
NMI Holdings Inc. (NMIH), the mortgage insurer backed by Kyle Bass and Carlyle Group LP (CG), raised $27.3 million in a public offering after selling shares at the top of their marketed range.
France’s credit rating was cut by Standard & Poor’s, which said slower growth will constrain the government’s ability to improve public finances and played down the impact of President Francois Hollande’s reforms.
China’s stocks fell, sending the benchmark index to a weekly loss, before the start of a Communist Party meeting tomorrow. Technology and agriculture companies led declines.
Emerging-market stocks fell, with the benchmark index heading for the longest losing streak since March, after faster U.S. economic growth fueled concern the Federal Reserve will cut stimulus sooner than expected.
Asian stocks fell, with the regional gauge headed for a third weekly drop, and emerging market currencies weakened before U.S. payrolls data. The euro depreciated after Standard & Poor’s cut France’s credit rating.
Hong Kong stocks slid, with the benchmark index headed for its longest losing streak in 11 weeks, after stronger U.S. economic growth fueled concern the Federal Reserve may cut stimulus sooner than expected.
