|
|
|
Elevated Inflation, MCX Sells Stake to NYSE
Feb 15, 5:51 PM EST |
|
| MCX, Multi Commodity Exchange of India sold 5% to NYSE Euronext for $61 million. |
|
| Wholesale index, a measure of inflation, declined, for year ending two weeks ago. The annualized inflation, measured every week on a rolling 52-week period declined from 4.1% at the end of previous week. Prime Minister, ahead of election, remarked that controlling inflation should not be done at the expense of growth. India expects to grow at 9% and keep inflation below 5%. Indiabulls sold a stake in its real estate company to Farralon Capital and Laxmi Mittal. |
|
|
Full Story... |
Loss Worries Resurface
Feb 15, 5:20 PM EST |
|
| European stocks declined after the familar worries resurfaced. Banks are exepected to post losses of $200 billion, totaling $350 billion. |
|
| French bank Natixis fell 11% after it reported a sharp decline in profit of 50% on subprime loan related losses. Earnings declined to 1 billion euros from 2.1 billion euros on loan losses and insurance related losses. Deutsche Post, the owner of DHL, chief Klaus Zumwinkel resigned after tax evasion charges in Germany. Michelin earnings in the second half increased 14%, less than expected on higher rubber prices. Eni, Italian oil company reported income of 3 billion euros in the fourth quarter. |
|
|
Full Story... |
Neverending Bank Losses, Volatile Stocks
Feb 15, 4:59 PM EST |
|
| oil prices hovers near record level prompting another round of merger talks between Continental and American and Delta and Northwest. |
|
| U.S. stocks traded in a tight range. UBS analyst revised his estimate from total loan losses to $350 billion from $150 billion on higher losses from assset backed securities, commercal mortgage securities, leveraged loans, and credit card loans. Import price index in January rose 1.7% sparking worries that inflation may be on the rise. General business condition index for New York region manufacturers declined as reported by the NY Fed, worst reading in three years. |
|
|
Full Story... |
Loan Loss Estimates, Additional $200 B
Feb 15, 12:48 PM EST |
|
| Analysts increased their loan loss estimate by $203 billion, in addition to the reported loss of $150 billion. |
|
| U.S. stocks declined on the worries that the current credit market losses may widen, higher estimates of loan losses, and weak manfacturing survey from the NY Fed. The market averages edged lower after the UBS analyst estimated additional loan losses of more than $200 billion. Separately, Citigroup estimated additional loan losses at UBS of between Sfr12 billion to Sfr20 billion. FGIC, troubled bond insurer, requested NY Insurance Department to separate its municipal bond business. |
|
|
Full Story... |
BOJ Left Rates at 0.5%, Stocks Struggle
Feb 15, 10:56 AM EST |
|
| Stocks in Japan struggled after the Bank of Japan left rates at 0.5% and cuationed that rising inflation and slump in housing investment is a drag. |
|
| The Bank of Japan left its key interest rate unchanged to 0.5% in an unanimous vote but voiced a concern on the rising energy and food prices. The Bank also noted in a separate statement that housing investment is acting as a drag on the economy and noted that credit demand in the private sector has bee flat. |
|
|
Full Story... |
Centro Extension, Stocks Edge Lower
Feb 15, 9:46 AM EST |
|
| Australian stocks closed lower tracking the overnight losses in the U.S. and European markets. |
|
| ASX 200 index lost 1.4% or 78.2 to close at 5,606.60. The Preliminary market turnover was 1.32 billion shares worth $6.18 billion, with 422 stocks moving up, 729 moving down, and 354 unchanged. Centro Group requested a trading suspension ahead of debt reschedule negotiations. Centro is likely to get an extension of 60 days. Of the ASX 200 index stocks, AED Oil Limited led the gainers with a rise of 43.3% followed by increases in Alumina Limited of 9.4%. |
|
|
Full Story... |
1
 |
|
