|
|
|
European Markets Up 3%
Feb 12, 6:03 PM EST |
|
| Bilfinger Berger, Rheinmetall, and Pfeiffer Vacuum in Frankfurt closed higher on better than expected earnings. |
|
| Third largest Swiss bank, Julius Baer filed with the SEC to sell its assset management unit in an initial public offering and raise as much as $1 billion through Goldman Sachs and Merrill Lynch. Credit Swiss Group reported earnings fall of 72% on Sfr1.2 billion of write downs of assets in high risk loans. sanofi-Aventis fourth quarter profit increased 6% tp 1.46 billion euros on cost cutting and higher sales of Plavix. |
|
|
Full Story... |
Early Rally in U.S. Stocks Sputters, Gold Down
Feb 12, 4:57 PM EST |
|
| GM fell after reporting a large loss in the fourth quarter and for 2007 on difficulties in the domestic market. |
|
| U.S. stocks edged higher after an offer from Warren Buffett, chairman of Berkshire Hathaway,and Bush administration plan to help struggling home owners. Buffett offered $5 billion to extend reinsurance to $800 billion municipal bonds portfolio. Bond insurance companies did not show enthusiasm to the offer. Banks and financial stocks rallied but brokerage stocks fell in the afternoon. Oil and gold declined. Molson Coors led the gainers in the S&P 500 index with a rise of 9%. |
|
|
Full Story... |
Fuel Contributes to Higher Inflation
Feb 12, 3:30 PM EST |
|
| January CPI and RPI inflation indexex rose above the target set by the Bank of England. |
|
| UK stocks rebounded on the back of rising commodities and energy stocks. The sharp gain in the financial markets in the U.S. and across the Europe helped the UK index. In [[London]] trading FTSE 100 stocks rallied 3.54% or 202.3 to 5,910. ICAP Plc led advancers with a rise of 7.16% followed by Vedanta Resources increasing 6.76% as the price of metal continued to gain on supply constraints that are currently plaguing China. |
|
|
Full Story... |
Hope Drives U.S. Stocks, Another Housing Plan
Feb 12, 3:42 PM EST |
|
| U.S. stocks rallied on the hope that an effort to save bond insurance companies may stave future losses in the riskly mortgage related securities. |
|
| U.S. stocks rallied after Warren Buffett made a low offer to support municipal bond reinsurance portfolio of $800 billion from three largest bond insurance companies. The U.S. also released a plan along with six major home lenders to help people who are on the brink of foreclousre, however the effort appears to be driven by political considerations. General Motors reported losses on the declining market share in the U.S. |
|
|
Full Story... |
Lackluster Trading in Mumbai
Feb 12, 10:31 AM EST |
|
| Stocks languished for the second day as investors worried that global market slowdown will lower corporate earnings. |
|
| Industrial production in December declined to annual rate of 7.6% from 13.4%. the volatile index suffered from lower than expected output in mining, electricity, and manufacturing. For the nine months the index increased at a rate of 9.6% from 12.2%. Software companies fell as investors worried on the rising subprime losses in the U.S. New issue of J Kumar Infraprojects closed at 102.70 rupees, just above its offer price of 100 rupees. |
|
|
Full Story... |
Buffett $5B Offer May Be Too Low
Feb 12, 9:26 AM EST |
|
| Warren Buffett, chairman of Berkshire Hathaway, offered $5 billion to reinsure $800 billion municipal bonds liabilties of three bond insurers. |
|
| Warren Buffett, chairman of Berkshire Hathaway, made a low offer to reinsure $800 billion of municipal bond liabilites of three bond insurance companies, Ambac, MBIA, and FGIC. The offer was quickly rejected by one insurer and others did not show much enthusiasm. The Buffett offer includes only municipal bonds and does not cover any of the mortgage securities related liablities. |
|
|
Full Story... |
Metals and Oil Lift HK Stocks
Feb 12, 8:45 AM EST |
|
| Hong Kong stocks recovered on the rising metal and oil prices. Investors worried that weather related disruption in China may continue for weeks. |
|
| In a subdued trading in Hong Kong, stocks recovered as oil and metal prices gained in the region. Oil added 2% and copper prices increased as worries mounted that continued weather related disruptions in China may prolong. Foreign exchange reserves increased $7.2 billion to nearly $160 billion at the end of January, according to HK Monetary Authority. PetroChina and CNOOC gained 2.5% and Aluminum Company of China added 2%. Jiangxi Copper surged 4%. |
|
|
Full Story... |
Japan Faces Higher Energy Costs
Feb 12, 8:20 AM EST |
|
| Indonesia is likely to reduce its LNG shipment by 90% and revise price higher. Copper and other metal price increases lifted Mitsui and other traders. |
|
| Investors in Japan focused on rising subprime losses in the U.S. and surging metal and oil prices in the region. AIG sharply increased its losses from risky loans to $5.9 billion from $1.1 billion reported three months ago. Copper and oil rose as investors worried that bad weather conditions in China will hurt production. Indonesia is expected to lower by 90% LNG shipments to Japan. |
|
|
Full Story... |
1
 |
|
