Dec 22, 2010 ~ Business

Wednesday, December 22, 2010

Clearing the loss of U.S. stocks Since the 2011 Lehman fuels Bulls

The breakthrough that raised 500 Standard & Poor's above its level before the collapse of Lehman Brothers Holdings Inc. in September 2008 is an encouraging sign for the bulls, technical analysts said. The benchmark for U.S. stocks rose 0.6 percent to 1254.6 yesterday, surpassing its closing level of 1251.70 on September 12, 2008, the last trading session before Lehman Brothers filed the largest bankruptcy in the world . After closing within 1 percent of the milestones in five of the six previous days, the index may now have room to rise, according to analysts' forecasts based price charts. "It's a psychological and technical victory for the market," said Christopher Verrone, chief technical analyst in New York Strategas Research Partners. "It strengthens the case that 2011 might be better...

U.S. stocks swung between gains and losses

U.S. stocks swung between gains and losses as government data showed the economy grew at a rate of 2.6 percent in the third quarter, faster than previously estimated, while less than expected by economists. Nike Inc. fell 5.7 percent after it reported orders that missed some analysts' estimates. Xilinx Inc. fell 4.7 percent in the chip maker said third-quarter sales will be reduced more than it had previously forecast due to weak demand. Walgreen Co. rose 8.1 percent after the largest U.S. drugstore chain reported earnings that beat analysts' estimates. 500 of Standard & Poor's rose 0.1 percent to 1,256.22 at 9:32 am in New York. The Dow Jones industrial average rose 3.33 points, or 0.1 percent down at 11,536.49. "The economy is on the right track, but people need to understand what...

Asian stocks advanced after copper rose

Asian stocks advanced as commodity producers gained after copper rose to a record, oil rose and U.S. retail sales increased last week, adding to signs of economic recovery is underway. Canon Inc., the world's largest manufacturer of cameras that receives about 28 percent of sales U.S., increased 1.9 percent in Tokyo. BHP Billiton Ltd., the world's biggest mining and Australia's largest oil and gas producer, rose 0.9 percent in Sydney. Mitsui & Co., with products as their main source of profit, gained 0.7 percent. Sanyo Electric Co., a maker of rechargeable batteries, fell 5.1 percent after his father Panasonic Corp. announced plans to bring the Company. "The world economy is recovering moderately," said Naoki Fujiwara, who helps oversee $ 6 billion in Tokyo at Shinkin Asset Management...

Hong Kong shares gained for a second day

Hong Kong shares gained for a second day to oil-related stocks rose after China raised prices of petrol and diesel, and U.S. retail sales rose last week, fueling optimism of economic recovery is underway. China Petroleum & Chemical Corp., the nation's largest oil refiner, advanced 3.2 percent. Techtronic Industries Co., maker of Hoover vacuum cleaners and Ryobi power tools, rose 5.8 percent. Cheung Kong (Holdings) Ltd., Hong Kong No. 2 development by market value, rose 3.5 percent after the Hong Kong Economic Times said the company plans to Chairman Li Ka-shing to build trust firm's real estate investment. The Hang Seng index rose 0.6 percent to 23,135.72 as of 12:07 pm local time. The Hang Seng China Enterprise Index called H shares of Chinese companies gained 0.7 percent to 12,691.04. "H...

China's stocks fell after the government raised fuel prices

China's stocks fell, led by producers of consumer staples and banks after the government raised fuel prices and concern grew about the profitability of lenders as the government tightens monetary policy. Kweichow Moutai Co. sank to a one-month low amid speculation in energy costs for businesses will increase, dampening growth in earnings, after China increased the price of petrol and diesel for the third time this year. Agricultural Bank of China Ltd. lost 0.8 percent after Barclays Capital said that senior government requirements on loans to local lenders reduced rates of capital and profits. "High oil prices can encourage the acceleration of inflation, adding to the concerns of investors about future policy tightening," said Zhang Kun, a strategist at Guotai Junan Securities Co. in Shanghai. The...

German shares were little changed after the benchmark DAX index recovered all the losses

German shares were little changed after the benchmark DAX index recovered all the losses that followed the fall of Lehman Brothers Holdings Inc. 's September 2008 collapse. Adidas AG, withdrew after rival Nike Inc. said orders fell short of some analysts' estimates. Pfleiderer AG rose to its highest level in more than a month after announcing it has signed a "standstill agreement" with the banks is valid until March 31, 2011. The DAX index rose less than 0.1 percent, to 7,079.08 as of 14:52 in Frankfurt, having swung between gains and losses of more than 20 times today. The index has risen 19 percent this year, corporate profits rose, the Federal Reserve announced a program of 600 billion U.S. dollars of bonds with an option to purchase to help the recovery of U.S. economy and rescued the...

ARM jumped 8.5 percent & Rising UK Stocks

UK stocks rose, extending the highest level for the FTSE 100 index since June 2008, shares of ARM Holdings Plc surged. ARM jumped 8.5 percent after Microsoft Corp. said it was preparing a version of Windows to run on chips from the company in the UK for the first time. British Sky Broadcasting Group Plc rose 2.1 percent amid speculation that the acquisition of News Corp. 's company will continue. Petrofac Ltd. rose to a record after the provider of oilfield services began work on the second phase of its proposed 3.4 billion U.S. dollars in Turkmenistan. The FTSE 100 gained 0.3 percent to 5,969.72 at 2:13 pm in London. The index has risen more than 10 percent this year, driven by higher company earnings, low interest rates and U.S. data better-than-estimated economic. The FTSE All-Share Index...

Indian stock purchases by foreign funds in 2011 could exceed this year , foreign inflows have risen to a record 1.3 trillion rupees

Indian stock purchases by foreign funds in 2011 could exceed this year's entries as the nation's record of economic expansion and strong corporate profits attract investors, according to local socio Ageas, the insurer groups the remains of Fortis. "The stage is set for it," said Aneesh Srivastava, who manages about $ 352 million in assets as chief investment officer at Mumbai-based head of IDBI Federal Life Insurance Co., in an interview today. "The money chasing growth. Returns on foreign economies are small and have no other choice but to seek out growth opportunities." foreign inflows into shares in India have risen to a record 1.3 trillion rupees ($ 28,800,000,000) this year, according to the website of the Securities and Exchange Board of India, driving the benchmark Bombay Stock Exchange...

The U.S. economy grew at a rate of 2.6 percent in the third quarter>>

The U.S. economy grew at a rate of 2.6 percent in the third quarter, marking a resumption of growth that can extend into 2011 as business and consumer confidence to win to pass. The revised gain in gross domestic product compares with an estimate of 2.5 percent issued last month , the Commerce Department figures showed today day. Stocks rose more than initially reported, while the increase in household purchases was revised downward. revenue growth, continued tax cuts Bush-era and an improved labor market may encourage Americans to increase their spending, which accounts for about 70 percent of the world's largest economy. Today's figures showed a measure of inflation rose at the slowest pace in more than 50 years, underscoring the Federal Reserve's strategy of expanding the monetary stimulus...

The dollar has fluctuated against the euro and the yen after a report showed the U.S. economy grew at a slower pace than expected. The U.S. currency mixed versus its major counterparts after the Commerce Department said gross domestic product grew at a rate of 2.6 percent in the third quarter. The euro rose that German import prices in November rose the most in a decade. The Swiss franc strengthened to a record against the common currency for a sixth day on the link in the demand for shelter to the crisis in the euro zone sovereign debt. "GDP was stronger than before, but weaker than expected, so there was some disappointment in the market,"...

The U.S. currency fell against 13 of its 16 major counterparts "dollar weakened"

The dollar weakened before the forecast data to show the U.S. economy is gaining momentum, fueling investor demand for higher yielding assets. The U.S. currency fell against 13 of its 16 major counterparts before reports expected to show U.S. GDP grew faster than estimated and the increase in home sales. The euro rose that German import prices in November rose the most in a decade. The pound fell after the British economy grew at a slower pace than previously estimated, while the Swiss franc strengthened to a record against the common currency for a sixth day. "Home sales are the weakest element of the entire U.S. history and we are looking for a bounce back in sales of existing homes," said Jeremy Stretch, executive director of foreign exchange strategy at Canadian Imperial Bank of Commerce...

New Zealand dollar traded near 10 years against the currency of Australia

New Zealand dollar traded near 10 years against the currency of Australia before a government report that economists said will show the economy of the smallest nation was almost stagnant in the third quarter. The kiwi call weakened against all but one of its top 16 partners from the data today showed New Zealand's deficit on current account increased as exports declined. Australia's currency was near a seven-month high against the yen after an index of leading indicators for the economy of the South Pacific nation increased. "I am relatively bearish on the kiwi," said Masashi Murata, vice president of foreign exchange in Tokyo at BBH Investment Services Inc., a subsidiary of New York, Brown Brothers Harriman & Co. "New Zealand does not benefit from increased demand in emerging markets,...

The pound fell against the euro after growing UK economy at a slower rate

The pound fell against the euro after a report showed the UK economy grew at a slower rate than estimated in the third quarter. The pound weakened against 11 of its 16 most actively traded counterparts as the data of National Statistical Office showed gross domestic product in the UK rose 0.7 percent in the three months to September. That compares with an initial estimate of 0.8 percent announced in October that was double the pace expected by economists. Second quarter growth was revised to 1.1 percent from 1.2 percent. "The GDP data called the pound," said Jane Foley, currency strategist at Rabobank International in London. "The data fed worries that growth will slow in the fourth quarter, and only takes away some of the shine had been put to the pound for this stronger version in October." The...

The Canadian dollar traded near its lowest level in almost three weeks against its U.S

The Canadian dollar traded near its lowest level in almost three weeks against its U.S. counterpart as a report showing slower inflation overshadowed another, and said that retail sales rose more than expected. Canadian currency, nicknamed the Canadian dollar fell against 11 of his 16 fellow seniors. It pared losses as stocks and crude oil, the main export of the country, rose. The consumer price index rose less than economists expected, bolstering bets that the central bank kept interest rates on hold. "The CPI figure was not enough to change the perception that the Bank of Canada, and the number of retail, which could have caused a little more the strong Canadian dollar, actually had a bit of a soft tone "said David Watt, senior currency strategist at RBC Royal Bank of Canada Capital unit...

growth will slow in 2011 as the yen's rise 11 percent this year against the dollar ,Japanese government

Japanese government said that growth will slow in 2011 as the yen's rise 11 percent this year against the dollar threatens recovery. Gross domestic product probably increased 1.5 percent in the year beginning 1 April after rising 3.1 percent expected this year, the Cabinet Office said in Tokyo. Shares of Toyota Motor Corp. and Panasonic Corp. fell after the government also downgraded its assessment of the nation's exports, which have been threatened by the advance of the coin to a maximum of 15 years. overseas shipments expanded by 9.1 percent in November, the lack of estimates of economists, a Finance Ministry report showed today. "With the yen staying at these high levels, exports are likely to have difficulties to grow despite demand in advanced nations, especially the U.S., will recover,"...

China raised prices of petrol and diesel today seeks to contain inflation

China raised prices of petrol and diesel today for less than half of what crude oil has gained in the last month as the fastest growing economy in the world seeks to contain inflation. The price of petrol will increase by up to 4 percent to 310 yuan (47 dollars) per ton and diesel by 300 yuan per ton, the National Development and Reform Commission said in a statement on its website yesterday, the third increase this year in oil in the world's second largest consumer. New York crude has gained 9 percent since China's last price increase on 26 October. "This is a movement long overdue since the government is worried about inflation, while refiners are suffering losses after crude costs soared," said Wei, oil analyst at Bank of Communications International Holdings Co. in Beijing. "We believe...

Telus Corp., the third largest wireless carrier in Canada, you can sell floating rate commercial paper to help refinance C $ 1 billion (983 million U.S. dollars) of bonds amid speculation the Bank of Canada will not raise interest rates soon. "The refinancing, in part, with floating commercial paper, which should have interest rates up a huge amount more than five to 10 years to lock-in the long term with regard to pay in the short term," Chief Financial Officer Bob McFarlane Telmex in a telephone interview. About 87 percent of the Canadian company's debt is fixed rate wireless, McFarlane said. The central bank kept its benchmark interest...

More than 500 representatives from 27 nations met dozens of times this year to produce 440 pages of new rules to regulate banks in the world

More than 500 representatives from 27 nations, including top regulators and central bankers met dozens of times this year to produce 440 pages of new rules to regulate banks in the world. What is not in the documents published by the Basel Committee on Banking Supervision, and escape hatches that are, may have more impact on how financial institutions operate after a global credit crisis that led to $ 1.8 billion dollars in bank losses and provisions. most significant achievement of the commission, members said, an agreement to increase the amount of capital that banks must hold, I will not come into full force for eight years. Other measures that regulators had hoped would prevent future crises - the rules of liquidity, capital surcharge in most of the lenders and a mechanism for global...

Speculation Argentina may earn a credit grade increase

Speculation Argentina may earn a credit grade increase after reaching a settlement of debt in default with the Paris Club is helping to reduce borrowing costs by more than 50 percent compared to countries with similar qualifications. The extra yield investors demand to own Argentina's debt instead of bonds sold by the Dominican Republic, Belize, Jamaica, Ghana, Lebanon and Pakistan was reduced to 163 basis points, or 1.63 percentage points this week 331 June 30, according to JPMorgan Chase & Co. Like Argentina, the countries are rated B3 by Moody's Investors Service and B by Standard & Poor's. An agreement with the Paris Club group of creditor nations, whose members are Germany, Japan and the U.S., more than about $ 7 billion debt to Argentina would move closer to the restructuring...

Central banks outside the U.S. Treasuries sold in late November and December for the first time since June

Central banks outside the U.S. Treasuries sold in late November and December for the first time since June, stimulating the biggest monthly loss in a year for government bonds. The Treasury letter graphics DAY held at the Federal Reserve and foreign central banks and governments. It also shows the yields of U.S. 10 years of climbing in December to a maximum of seven months. Called custody holdings rose to a record $ 2,611,000,000,000 Nov. 17, according to the U.S. central bank. The figure fell $ 2.25 billion in the last week of November, and official foreign holders have sold $ 1.5 billion of Treasuries in December. "Foreign central banks have been drastically reduced their purchases of Treasury bonds, led analysts at JPMorgan Chase & Co. by Srini Ramaswamy in New York, wrote in a report...

German bond yields to 10 years were near the lowest in a week

German bond yields to 10 years were near the lowest in a week after Fitch Ratings said it may cut Greece's credit rating to non-investment grade within six weeks, underlying demand for more active insurance. Two-year German yields were within two points of least 12 days. Fitch said late yesterday that it expected a review of "fiscal sustainability"of Greece, to be completed in January and there is a "high probability"of a rebate. The European Central Bank plans to carry out a period of three months of operation of long-term refinancing to banks today. "Downgrades can continue in the new year, " said Mohit Kumar, fixed income strategist at Deutsche Bank AG in London. "We need to see a concerted response from the euro area. Otherwise the negative sentiment is likely to continue." German 10-year...

the holding company for bond insurer is not discussing with creditors and regulators of how to allocate $ 7.3 billion in net operating losses.

A lawyer for Ambac Financial Group Inc. told a bankruptcy judge that the holding company for bond insurer is not discussing with creditors and regulators of how to allocate $ 7.3 billion in net operating losses. On the other hand, Daniel Filor, attorney for the U.S. attorney's office, told the judge that the government believes that a tax refund dispute Ambac Financial should be transferred from the bankruptcy court in New York federal court district. Main Ambac insurance unit, Ambac Assurance Corp., was taken by regulators, the insurance commissioner's office in Wisconsin, known as the OIC, is overseeing the rehabilitation of 50 billion U.S. dollars in the portfolio of policies secure residential mortgage-backed securities. "We are in tripartite negotiations with the committee and the...

UK house prices may extend their decline in 2011 before stabilization

UK house prices may extend their decline in 2011 before "stabilization" as a shortage of supply helps to limit falls, the Royal Institution of Chartered Surveyors said. The indicators "point to the downward trend in the stabilization of the spring with prices starting to creep up again before the end of the year," the group said in a statement today in London. Prices in the fourth quarter of 2011 may be a "negligible" 2 percent compared with current levels. The demand for housing has weakened as banks restrict credit and the British are prepared to cut public spending and raising taxes to reduce the budget deficit. While RICS said there is a "risk" of the tax burden could be more damaging than expected, "even in this environment, our view is that the lack of new supply is likely to prevent...

Japan's banks are selling bonds for the first time this year

Japan's banks are selling bonds for the first time this year, prices are falling. Lenders cut public debt holdings 142.2 billion Japanese yen ($ 1,700,000,000,000) of 31 October from a record 143.2 trillion yen a month earlier, the Bank of Japan data show. Added bonuses in each of the last nine months, as outstanding loans fell 2.1 percent to 391.9 trillion yen, the lowest since May 2008. Government bonds lost 1.5 percent since Sept. 30, set for worst quarter in seven years, the indexes compiled by Merrill Lynch Bank of America shows. "Banks can make some changes in their strategies as the decrease in bond prices cut operating profits," said Yoshinobu Yamamoto, a Tokyo-based analyst at Deutsche Bank AG. Loans extended its biggest drop since 2005 as "the weak economic outlook, companies are...

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