Egan-Jones

Egan-Jones

Daily Highlights: 8.11.09

  • Asian stocks gain for the second day on speculation profits will increase.
  • Bad assets still threaten bank stability, congressional watchdog says.
  • Bank of Japan keeps key rate at 0.1%, focuses on risks to economy, prices.
  • "Cash for clunkers" program generates more than 245,000 vehicle sales in 2 weeks.
  • China backs off from allegations that Rio Tinto cost it $102B in overcharges.

Daily Highlights: 8.10.09

  • One million flee as typhoon hits China's eastern coast.
  • Asian stock markets rose Monday after a better-than-expected US jobs report.
  • Australia's central bank signaled it will start raising interest rates.
  • Economy isn't strong enough to support a long-running stock, bond recovery: cons. view.
  • China accuses Rio Tinto of deceit; says Co's actions led to $102B in overcharges.
  • China home prices rise in July for 2nd month; up 1 percent amid stimulus spending.

Daily Highlights: 8.07.09

  • Most major Asian stock markets move lower ahead of US jobs data.
  • BoE to inject an addln $85B in new money into the U.K. economy.
  • Car shoppers can purchase via $2B 'cash-for-clunkers' program through Aug.
  • Initial claims for jobless benefits fell by 38,000 to 550,000 last week.
  • Fewer layoffs expected in July as recession winds down, but few new hires.

Daily Highlights: 8.06.09

  • Stiglitz said he expects a “very slow recovery” in the U.S. economy and that a replacement for Fed Chair Bernanke should be considered.
  • Treasury Dept, responding to demand from China, other investors, to boost sale of TIPS.
  • Asian stocks rise on confidence economy is recovering; Alumina, NTT gain.
  • ECB, BOE may decide against further stimulus as evidence points to recovery.

Daily Highlights: 8.05.09

  • Land prices are on the rise again in China, helped by easy credit.
  • Asian stock markets were mixed on Wednesday as investors eye US econ data.
  • Australia's trade deficit narrowed in June to a smaller-than-expected gap.
  • Auto dealers are citing tight inventories as a threat to "Cash for Clunkers."
  • Number of homes listed for sale declined again in many U.S. cities last month.

Daily Highlights: 8.04.09

  • Asian share markets were higher Tuesday with commodity-related stocks up.
  • Construction spending unexpectedly rises on revival in home sales.
  • Germany to champion Magna's Opel bid in Berlin talks.
  • Dubai real estate prices down 50%from peak: Property Index.
  • Anadarko Petroleum swung to a Q2 loss of $216M on lower prices, output up 12%.

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: 7.31.09

  • Initial jobless claims in US increase; total rolls unexpectedly decline.
  • US Treasuries fell, heading for a 4th monthly loss on speculation GDP improving.
  • Japan's unemployment rate rises to a 6-yr high in June; Consumer prices fell at a record pace.
  • Asian stocks rise on profit reports; MSCI Index set for fifth monthly gain.
  • AK Steel announces price increase of $40/tonne for its carbon steel products.

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: 7.29.09

  • Home Prices in US cities post monthly rise; consumer confidence declines.
  • Japan stocks edge up amid corporate earnings, investors await US GDP data.
  • Shanghai's index fell by 5% on disappointing corporate profits, lower commodity prices.
  • US dollar mostly higher, gold falls in European morning trading.
  • Akzo Nobel 2nd quarter net profit down 13 percent to $220M, shares rise on margins.

Daily Highlights: 7.28.09

  • Asian stock markets move mostly in a tight range after their string of recent rallies.
  • CFTC report to blame speculators responsible for driving oil-price swings.
  • Coal producers cope with sluggish demand
  • Crude Oil trades near a three-week high after gains in equities markets
  • SEC firms up plan to limit short sales of stocks.
  • AIG unit keeps $2.4B from asset sales as taxpayers wait for payment

Daily Highlights: 7.27.09

  • Administration looking for Chinese help to narrow trade gap and boost US jobs.
  • Advertisers are getting cheaper rates than a year ago on television commercials.
  • Aetna 2Q profit dropped to $346.6M due to greater commercial expenses and cuts full year forecast.
  • Asian markets were higher Monday on hopes for further earnings recovery, Nikkei hits 10,000 mark.
  • China's new small-company stock exchange gets 108 IPO applicants on 1st day as launch nears.
  • China shares up for 4th day on high liquidity-driven sentiment, led by metals and airlines.
  • Euro rises to $1.4263 in European morning trade as investors continue to leave dollar.

Daily Highlights: 7.24.09

  • Asian markets rise on improving economic data, strong earnings.
  • Europe truck sales down for 14th month.
  • Existing-home sales rose 3.6% in June from the previous month.
  • U.K. second-quarter GDP fell 0.8%, according to preliminary reading.
  • US Mortgage rates rise to 5.2% in first gain in 4 weeks: Freddie Mac.
  • 3M Co. posts 2Q EPS of $1.20, beating cons est. by 28%; ups Y09 EPS f'cast.

Daily Highlights: 7.23.09

  • ADB: East Asian economies may have 'V' shaped recovery.
  • Asian stocks rise on yen; merging market stocks hit 10-month high.
  • IMF says China has room for more fiscal stimulus through 2010.
  • Iceland formally applies to join EU, faces talks on fishing rights.
  • Japan's export fall by smallest margin in 6 months as recession eases.
  • Weaker yen sends Japan stocks higher for seventh straight session of gains.

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.