daily highlights
daily highlights
Daily Highlights: 6.30.10
Submitted by Tyler Durden on 06/30/2010 08:04 -0400- API reported a decline of 3.4M barrels in US' oil stockpiles.
- Asian markets stay in the red but pare early losses.
- Australia reportedly close to mining-tax compromise.
- Consumer Confidence grows in Euro zone, ebbs in UK.
- IMF chief: No double-dip for global economy; defends G20 focus on deficit reduction.
- Japanese stocks fall to seven-month low as US consumer confidence drops.
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Daily Highlights: 6.29.10
Submitted by Tyler Durden on 06/29/2010 08:30 -0400- Asian stocks were mostly lower Tuesday in choppy trade as China falters.
- BIS warns countries about risks of debt, on keeping interest rates low for too long.
- China Resources acquires Hong Kong's pacific coffee, to take on Starbucks
- China's Shanghai Composite slumps 4% in late trade on concerns over flows into equity.
- Fed adjusts $1.25 trillion plan to end mortgage-bond purchases on supply.
- IMF Chief says yuan revaluation won't occur 'very rapidly'.
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Daily Highlights: 6.28.10
Submitted by Tyler Durden on 06/28/2010 08:31 -0400- Asian stocks fluctuate; Japanese banks decline on Mizuho's share-sale plan.
- Caribbean storms strengthen, may head for oil spill.
- China sets the exchange rate for the yuan at its highest in five years.
- China shares fall on concerns Agricultural Bank of China’s IPO might depress market.
- China, as part of fuel efficiency measure, to shut down small thermal power units totaling 10 million kilowatts in capacity this year.
- Consumer spending in US probably little changed in May as incomes rose: Survey.
- Dubai port operator DP World cancels plans for London stock listing until at next year.
- Group of 20 Nations agree on higher bank capital to avert financial crisis.
- Romania said it would raise taxes to shore up state finances.
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Daily Highlights: 6.25.10
Submitted by Tyler Durden on 06/25/2010 08:19 -0400- Asian stocks decline on US growth, Greek default concerns.
- German luxury carmakers add shifts and cut breaks to meet demand
- Monsoon rains may be more than predicted, helping output of crops in India.
- Mortgage rates on 30-Year U.S. loans slide to record 4.69%
- Yen near two-week high against Euro on speculation global economy slowing.
- Adobe enters into stock repurchase agreements for $400M.
- Alibaba.com buys US e-Commerce site Vendio to boost sales outside China.
- AO Smith lowers 2010 EPS below consensus, due to one-time charge from flood.
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Daily Highlights: 6.24.10
Submitted by Tyler Durden on 06/24/2010 08:06 -0400- Asian stocks rose, led by material producers and Japanese trading companies.
- China's chief auditor says rising debts of local governments are risky to economy.
- China's yuan rises moderately against the U.S. dollar.
- Fed offered a subdued assessment of the economy; affirmed rates would remain near zero for "an extended period."
- G-20 countries divided on issue of stimulus spending versus soaring deficits.
- Japan's exports rose 32.1% in May from a year earlier, the MoF - lower than expected.
- Oil falls to near $76 in Asia on signs US crude demand.
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Daily Highlights: 6.23.10
Submitted by Tyler Durden on 06/23/2010 08:04 -0400- 56% of 106 economists, analysts surveyed expect home prices to fall this year: Macromarkets LLC.
- Asian stocks fell Wednesday, with energy stocks among the biggest losers.
- Banks hit by £2B yearly levy in UK; France and Germany promise similar measures.
- Chinese steelmakers hit hard by govt saying it will scrap a tax rebate for exports.
- Oil firms, drill operators clash on who should pay for rigs idled by the recent offshore-drilling moratorium.
- Adobe Board grants authority to repurchase up to $1.6B in common stock by 2012.
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Daily Highlights: 6.22.10
Submitted by Tyler Durden on 06/22/2010 07:53 -0400- Asian, European stocks fell for the first time in 9 days; Euro weakened against Yen.
- German business confidence rises on increased export expectations.
- US home sales likely to weaken with the end of the tax credits: Bloomberg
- Japan targets balanced budget by 2020 to contain debt.
- Oil declines as optimism fades over boost to global economy from Yuan plan.
- Russia cut natural gas supplies to Belarus after Minsk failed to pay off debts.
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Daily Highlights: 6.21.10
Submitted by Tyler Durden on 06/21/2010 08:40 -0400- China kept Yuan's exchange rate unchanged against the dollar, after saying it was unhitching its de facto peg.
- Crude-oil futures inched closer to the $80/bbl in late Monday morning trading in Asia.
- Stocks, commodities, US futures rally as China gets Yuan off the USD peg.
- US corporate defaults have fallen to an annualized rate of barely 1% in 2010; future uncertain.
- Yuan climbs most in 18 months as China signals end to peg; Forwards jump.
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Daily Highlights: 6.18.10
Submitted by Tyler Durden on 06/18/2010 08:17 -0400- Afghan president Karzai welcomes Japan investment in minerals.
- Asian stocks mixed, but losses limited as worries over Europe's debt crisis ease.
- Asia emerging-market stocks, currencies rise on growth; Gold near record.
- China shares fall as pricing worries for Agricultural Bank IPO linger.
- EU stress tests face questions over toughness of terms, Government backing.
- Japan aims to cut company tax toward 25% in strategy to stoke growth.
- Russia, in need of 'investment boom,' to scrap capital gains tax on foreign investment.
- U.S. consumer prices fell 0.2% last month, despite higher commodity prices.
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Daily Highlights: 6.17.10
Submitted by Tyler Durden on 06/17/2010 08:04 -0400- Asian shares were solidly higher Wednesday after Wall Street rallied Tuesday.
- China boosts holdings of US Treasury debt by $5 billion.
- Euro zone May inflation confirmed at 1.6 pct y/y.
- France may raise retirement age from 60 to 62 in 2018.
- Obama says oil spill shows US must cut oil 'addiction’.
- OECD recommends Dutch workers stay on the job longer, accept less when they retire.
- Russia preparing to buy Canadian, Australian dollars to diversify reserves.
- Yen trades near 1-week low on improving global economic outlook.
- Best Buy Co.'s Q1 profit rose a disappointing 1.3% to $155M despite 6.9% rise in revs.
- Brazilian meatpacker Marfrig to acquire distributor Keystone Foods for $1.26B.
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Daily Highlights: 6.16.10
Submitted by Tyler Durden on 06/16/2010 08:24 -0400- Asian shares were solidly higher Wednesday after Wall Street rallied Tuesday.
- China boosts holdings of US Treasury debt by $5 billion.
- Euro zone May inflation confirmed at 1.6 pct y/y.
- France may raise retirement age from 60 to 62 in 2018.
- Obama says oil spill shows US must cut oil 'addiction’.
- OECD recommends Dutch workers stay on the job longer, accept less when they retire.
- Russia preparing to buy Canadian, Australian dollars to diversify reserves.
- Yen trades near 1-week low on improving global economic outlook.
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Daily Highlights: 6.15.10
Submitted by Tyler Durden on 06/15/2010 08:04 -0400- Asian stocks reverse loss on recovery signs; bond risk falls.
- BoJ will make $32.8B of low-cost funds available to private banks to lend to companies.
- Brazil, China, and India to see strong growth in agriculture as output remains stagnant among big importers in Western Europe.
- China's Bank Regulator warns risks growing from real estate 'chain effect'.
- Euro down to $1.2182 in morning European trading due to Greek finance worries.
- Fed weighs options in case growth ebbs.
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Daily Highlights: 6.14.10
Submitted by Tyler Durden on 06/14/2010 08:13 -0400- Asian shares were mostly higher Monday, lifted by Friday's mild gains on Wall Street.
- ECB governor said interest rates in the euro zone will remain on hold for many months.
- Euro concerns put plan to introduce a single currency for GCC nations on hold.
- Euro volatility signalling weakness as traders lose confidence in currency.
- French, German banks continued to hold the greatest exposure to euro-zone countries.
- South Korea's Won advances on tighter forwards curbs, risk of intervention.
- Taiwan, China say they reach a basic agreement on reducing trade tariffs.
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Daily Highlights: 6.11.10
Submitted by Tyler Durden on 06/11/2010 08:19 -0400- China May retail sales surge 18.7% from year-ago.
- China's consumer inflation breaches 3% level- govt's annual target.
- 'Circuit Breaker' set; rules to ease stock volatility on S&P 500 to begin today.
- ECB plans new loans, raises 2010 f'cast.
- Euro climbs to $1.2103 after ECB expanded efforts to make credit available.
- Geithner says China yuan policy is 'impediment' to global economic growth.
- Loans in Fed Reserve program aimed at easing European crisis fall to $1.24 billion.
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Daily Highlights: 6.10.10
Submitted by Tyler Durden on 06/10/2010 08:36 -0400- Asian shares were modestly higher with resource stocks leading, but for China.
- Bank of Korea keeps rate at record low 2 percent amid strong recovery.
- Bernanke: US recovery on track despite European crisis, high unemployment.
- Brazil central bank lifts rate to 10.25%, meeting expectations.
- China posted a trade surplus for a second straight month in May on higher export growth.
- Euro climbs to $1.2039 on Bernanke remarks, raising hopes in global economy.
- EU's Internet chief warns states against choosing proprietary software as standards.
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