Daily Highlights: 8.12.09

  • Asian stocks fall as weaker profits fuel valuation concern
  • China's money market rates drop on signs Central Bank to delay tightening
  • Fed may acknowledge faster growth, pledge to keep rate 'exceptionally' low.
  • Europe industrial production unexpectedly drops, suggesting slow recovery
  • French inflation rate remains negative for third month on energy and energy retail
Raymond Shaw's picture

Wednesday UK and Europe highlights. Coverage of the mayhem in the Asian markets today. Since I wrote the post, Indian market indices opened to the downside despite upbeat industrial output data, seems likes the standard theme today across Asia. Article will be updated to keep up with data releases (BOE inflation report, etc). More inside as usual.

Daily Highlights: 8.03.09

  • Asian stocks rise, as Mitsubishi UFJ leads banks higher; Nissan advances.
  • Bank, auto shares jump in Japan; Topix hits 9-month high but Nikkei fractionally lower.
  • Britain's manufacturing sector grew in July; pound rallies on the news.
  • Cash for Clunkers program could end unless Senate approves $2B in addln funding.
  • China's Manufacturing grows in July as lending, stimulus counter slump in exports.
  • China shares hit 14-month high as surveys show manufacturing is expanding.

Daily Highlights: 7.30.09

  • Alcatel-Lucent swung to a net profit of €14M ($19.6M) vs. a year-ago loss of €1.1B.
  • Ambac Fincl expects Q2 impairment losses on credit derivatives to rise by ~$1.6B to $4.9B.
  • BAE Systems swung to 1H loss of $134M; revs jump 28%.
  • British American Tobacco H1 profit up 16 pct to 1.45 billion pounds.
  • British Sky Broadcasting posts a solid fourth-quarter net profit.

Daily Highlights: 7.22.09

  • Asian stocks rise for seventh day on speculation profits will increase.
  • Bank of England voted 9-0 on asset plan as GDP risks diminished.
  • Bernanke says policies are sowing recovery.
  • Nikkei hits 2-wk high but firm Yen limits gains.
  • Oil lingers near $65 as US crude supplies rise.
  • U.K.’s house-price slump will persist until 2012.

Daily Highlights: 7.21.09

  • Asia markets track US higher amid optimism about economy.
  • Australian central bank says global economy stabilizing, but interest rates could fall further.
  • California Lawmakers say they have deal to close $26B gap.
  • Euro slips back from 7-month highs to below $1.42 in early European trading.
  • Fed's emergency short-term lending programs eases as credit crisis eases.
  • Oil hovers near $64 in Asia as investors eye company results, weak crude demand.
  • Daily Highlights: 7.15.09

  • Asian stock markets rise for second day after Goldman Sachs, Intel earnings.
  • Bank of Japan extends credit policies, cuts economic forecasts.
  • China's foreign-exchange reserves rise to $2.13 trillion.
  • EU says plunging oil prices cause euro-zone's first ever negative inflation in June.
  • EU car makers say sales were up 2.4% to 1.46 million units in June.
  • Jack H Barnes's picture

    In an opinion piece submitted to The Wall Street Journal, U.K. Prime Minister Gordon Brown and French President Nicolas Sarkozy wrote that governments need to act to curb a "dangerously volatile" oil price that defies "the accepted rules of economics" and "could undermine confidence just as we are pushing for recovery."

    Hours earlier in Washington, the Commodity Futures Trading Commission, the main futures-market regulator in the U.S., announced it would hold hearings on whether to introduce tougher regulation of oil-futures markets. The rules, which drew immediate criticism from traders, would seek to curb the influence of speculative investors such as hedge funds and investment banks by limiting how much money any single trader can bet on any one commodity at a given time.

    Daily Highlights: 7.1.09

  • Consumers' confidence in economy unexpectedly falls in June, halting a 3-month upward trend.
  • Dow Jones industrial average rose 11% during the quarter, while the S&P 500 index surged 15.2%.
  • FDIC to propose tough guidelines for PE investors seeking to buy failed banks.
  • Home prices fall 0.6% as rate of decline slows.
  • IMF’s board of directors plans to issue as much as $150B of bonds.
  • Daily Highlights: 6.30.09

  • Asian stocks rose, with benchmark index set for a record gain.
  • Bank of America Merrill Lynch named Erh Fei Liu as its China head of corporate and investment banking.
  • Bernie Madoff was sentenced to 150 years in prison for bilking investors ranging from hedge funds to charities to retirees of $60B.
  • Broadcom Corp. strengthened its unsolicited offer for Emulex Corp. by 19% to $912M
  • Cathay Pacific Airways Ltd., Air China Ltd. and Singapore Airlines Ltd. can take some solace from the 43% surge in the price of jet fuel this year.