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European stocks rally after Chinese growth dataExternal Link

LONDON (MarketWatch) -- European stock markets moved sharply higher at the open on Wednesday, with resource firms posting some of the biggest gains after better-than-expected growth data from China. The gross domestic product in China grew by 7.4% in the first quarter, beating forecasts of a 7.3% print, but below the 7.7% seen in the final quarter last year. The Stoxx Europe 600 index rose 0.9% to 329.49, partly recovering from a 1% slide on Tuesday. Mining firms helped boost the pan-European benchmark, getting a lift from the Chinese data. Shares of heavyweights Rio Tinto PLC and BHP Billiton PLC both gained more than 1%. Supermarket chain Tesco PLC jumped 3.5% after it reported full-year results. Among country-specific indexes, the U.K.'s FTSE 100 index climbed 0.7% to 6,587.53, while France's CAC 40 index added 1.1% to 4,393.51. Germany's DAX 30 index put on 0.9% to 9,261.28.

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.


Wed, 16 Apr 2014 07:14:21 GMT
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Suspect in custody after two unattended bags found at Boston Marathon finish lineExternal Link

LOS ANGELES (MarketWatch) -- A suspect was taken into custody Tuesday night after two backpacks were reportedly found unattended at the Boston Marathon finish line. Photographers from WBZ-TV said they saw a barefoot man carrying a backpack and screaming "Boston Strong" before police cleared the area. The bags were found at approximately 6:50 p.m. Eastern. Both bags were eventually detonated by the bomb squad. One was likely a "hoax device" made from a rice cooker while one was left behind by a media outlet, Boston authorities told NBC News. Survivors, first responders and relatives of victims were on hand earlier in the day to mark the anniversary of last year's Boston Marathon bombing.

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.


Wed, 16 Apr 2014 04:47:56 GMT
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Moelis prices IPO at $25 a share: reportsExternal Link

SAN FRANCISCO (MarketWatch) -- Moelis & Co. priced its initial public offering at $25 a share, just shy of its expected pricing, according to media reports late Tuesday. Moelis is also reportedly offering 6.5 million shares. The investment bank was expected to price 7.3 million shares at between $26 to $29 a share.

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, 15 Apr 2014 21:53:15 GMT
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U.S. declines to name China a currency manipulatorExternal Link

WASHINGTON (MarketWatch) -- Despite an "unprecedented" 2.6% weakening in real terms in the yuan in February and March, the Treasury Department did not label China a currency manipulator. The Treasury is required to make this judgement twice a year, and China hasn't been named one since 1994. Treasury said the weakening of the yuan "would raise particularly serious concerns if they presage renewed resistance to currency appreciation and a retreat from China's announced policy of reducing intervention and allowing the exchange rate to reflect market forces." The report said that the yuan remains "significantly undervalued." The U.S. did not back down from its previous assertion that Germany should take steps to strengthen demand, noting that German goods imports were 1% weaker for 2013.

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, 15 Apr 2014 21:15:31 GMT
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Yahoo report shows Alibaba growth reacceleratedExternal Link

SAN FRANCISCO (MarketWatch) - Yahoo's first-quarter report shows Alibaba's regaining its growth momentum. Yahoo reported a 66% jump in Alibaba revenue in the Chinese Internet company's December quarter. In its previous quarter, the company reported a 51% revenue gain, prompting speculation that the company's growth was slowing. "Boy, did it reaccelerate," BGC Partners analyst Colin Gillis told MarketWatch. He said the after-hours rally was sparked by the Alibaba results. Topeka Capital's Victor Anthony told MarketWatch that the Alibaba results "topped even aggressive Street expectations." Yahoo shares were up 7%.

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, 15 Apr 2014 21:06:36 GMT
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