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ECB looking at reining in support for Greek banks: reportsExternal Link

The European Central Bank is looking at measures to rein in support for Greek banks under its emergency liquidity assistance, Bloomberg reported Tuesday. The measures include a proposal to raise the haircuts banks take on the collateral when they borrow from the Bank of Greece. The haircut could be 75% in an orderly default, CNBC said in a separate report. Greek banks are dependent on ELA emergency funds, delivered by the Bank of Greece but only available with the permission of the ECB. Athens on Monday ordered state-owned companies and other public entities to transfer their cash reserves to the Greek central bank. That is seen as a sign the country is feeling a cash squeeze as its bailout talks with international lenders stall. Greece must come up with economic reforms acceptable to its lenders to unlock the next tranche of bailout funds, with May 11 seen as the deadline for delivering the overhauls. At last check on Tuesday, Greece's Athex Composite Index slumped 3.1% to 706.19

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 Apr 2015 08:57:16 GMT
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Asia stocks: Latest quotesExternal Link

Here are the latest trading levels for Asia's major stock markets: Tokyo (Nikkei Average ) up 1.1% ; Hong Kong (Hang Seng Index ) up 2.1% ; Shanghai (Shanghai Composite Index ) up 0.7% ; Sydney (S&P/ASX 200 ) up 0.6% ; Seoul (Kospi ) down 0.2% ; Mumbai (Sensex ) down 0.5% ; Taipei (Taiex ) down 0.1%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 Apr 2015 05:16:21 GMT
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Blue Bell recalls all its products in all marketsExternal Link

Blue Bell Creameries L.P. said late Monday it was voluntarily recalling all of its products on sale anywhere for fear of listeria infection. Privately held Blue Bell, sometimes described as Texas's equivalent of Ben & Jerry's, had closed one of its three plants last month after it tested positive for listeria bacteria, according to an NBC News affiliate in Dallas. Blue Bell previously said five people in Kansas and three people in Texas had tested positive for listeria in connection with the ice cream. "We're committed to doing the 100% right thing, and the best way to do that is to take all of our products off the market until we can be confident that they are all safe," Blue Bell Chief Executive Paul Kruse said in a statement. Blue Bell operates retail outlets in 23 U.S. states, mostly in the South and Midwest, and is featured in area convenience stores and supermarkets. The recall would last at least two to three weeks, NBC quoted the company as saying.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 Apr 2015 03:26:19 GMT
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Hong Kong stocks rebound strongly after heavy declinesExternal Link

HONG KONG (MarketWatch) -- Hong Kong stocks bounced back sharply Tuesday morning after suffering its biggest fall in four months the previous day. The Hang Seng Index advanced 1.5%, with the mainland-China-tracking Hang Seng China Enterprises Index up 1.1%. Index heavyweight China Mobile Ltd. rallied 4.6%, after reporting a 59% jump in its 4G suscribers for the first quarter, despite a 5.6% decrease in net profit. Rival wireless carrier China Unicom Hong Kong Ltd. also climbed 2.6%, extending gains following a previous 2.3% advance after the company's mainland Chinese parent reported a 45% month-on-month jump in its 3G and 4G users for March, although mobile users decreased slightly. The Shanghai-listed shares of China United Network Communications Ltd. zoomed 5.7% higher, heading toward a fourth day of gains -- the shares have surged over 30% since the middle of last week after reports said the company may merge with domestic competitor China Telecom Corp. . The surge prompted the firm to issue a statement on the "abnormal volatility," saying the company had no key information that should be revealed about any merger plan. In Hong Kong, China Telecom also added to previous gains, rising 1.6%. Among other gainers, China Minsheng Banking Corp. improved by 2.8% ahead of its earnings results due later in the day. Mainland real-estate developer Kaisa Group Holdings Ltd. was suspended from trading on Tuesday, after saying a day earlier that it had defaulted on interest payments on its offshore bonds and that it was in talks with its creditors to restructure the debt. Over on the mainland, the Shanghai Composite Index extended losses after a 1.6% decline on Monday, dropping 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 Apr 2015 02:34:33 GMT
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Australia stocks rally, with Rio Tinto report in focusExternal Link

Australian stocks got off to a strong start Tuesday, with the S&P/ASX 200 up 0.9% about an hour into trade, brushing off the dust from a 0.8% fall in the previous session. Earnings and production reports were in focus, particularly the quarterly output numbers from Rio Tinto Ltd. , which showed a drop in iron-ore shipments from the previous three months, though a gain in copper output. Shares of Rio Tinto were up 2%, slightly trailing rival BHP Billiton Ltd.'s 2.3% advance. Leighton Holdings Ltd. added 1.4% after posting a strong first-quarter unaudited-profit gain, while Oil Search Ltd. saw a milder 0.4% improvement after reporting a drop in revenue for the quarter. Financials saw some robust improvement after upbeat U.S. investment-bank earnings overnight, with Macquarie Group Ltd. up 1.4%, National Australia Bank Ltd. up 0.9%, and QBE Insurance Group Ltd. rallying 3.7%. A UBS note to clients, reported by Dow Jones Newswires, appeared to benefit shares which received favorable mention: Iluka Resources Ltd. rose 2.9%, and Qantas Airways Ltd. rallied 2.8% after the pair were named as among the best-priced of the Australian large-cap stocks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 21 Apr 2015 01:06:18 GMT
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