Global stocks up on G20 stimulus
Sep 7, 2009 Make Money Online
By Harpreet Bhal
LONDON (Reuters) – Investors jumped into equities on Monday, sending world stocks close to their highest level for the year, while the dollar weakened across the board as demand for riskier assets took hold.
A weekend agreement by the G20 to keep economic stimuli running helped drive risk appetite. The meeting bolstered the view that interest rates will remain low, sending two-year euro zone government bond yields to historic lows.
The MSCI’s all-country world stock index .MIWD00000PUS, a benchmark for professional investors, rebounded 1 percent after a rare week of losses, and is only a few points off a year high reached in late August.
The pan-European FTSEurofirst 300 index .FTEU3 added 1.4 percent, reversing losses from the previous week, on expectations of mergers and acquisitions after Kraft (KFT.N) made a $16.7 billion bid for Cadbury (CBRY.L). Read the rest of this entry »
Tags: Cadbury, economic, Euro, investor, Japan's Nikkei, MSCI, Stock, Stock index, Stock Market
Wall Street gains for 2nd day; tech shares outperform – Sep 4, 2009
Sep 5, 2009 Make Money Online
By Angela Moon
NEW YORK (Reuters) – U.S. stocks closed higher on Friday as investors focused on the bright side of a mixed payrolls report that showed smaller-than-expected job cuts in August, although the unemployment rate hit a 26-year high.
The market was relatively flat in morning trade before sharply rising around noon, with all major indexes gaining around 1 percent.
“Yes, the unemployment rate was a little worse than expected, but the wild card was the non-farm payrolls, which came out better than forecast,” said Robert Francello, head of equity trading for Apex Capital in San Francisco.
“It’s providing relief as we get near the close, and some people are covering shorts here before the long weekend.”
Gains were broad-based, with technology shares leading the charge. Semiconductor stocks rose after Intel Corp’s (INTC.O) chief executive said aging personal computers and Microsoft’s launch of Windows 7 will prompt companies to start spending on PCs next year.
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Tags: Dow Jones, INTC.O, Intel Corp's, Major Indexes, MSFT.O, PHLX, RMBS.O, SamSung, Share, Stock, Stock Market, Wall Street
Santander Brazil unit IPO could exceed $5.6 billion
Sep 3, 2009 Make Money Online
By Elzio Barreto and Phil Wahba
SAO PAULO/NEW YORK (Reuters) – Banco Santander SA, the Brazilian unit of Spain’s Santander (SAN.MC), filed on Thursday for an initial public offering in Brazil and the United States, in what could become one of the largest IPOs of the year.
In July, Santander said it would sell about 15 percent of its Brazilian unit through a new share issue, suggesting the IPO would be worth around $5.6 billion based on Banco Santander SA’s current market value of around $37 billion. That figure is derived from a tiny number of shares that are currently tradable.
A deal of that size would put it among the top IPOs of 2009 worldwide, and be the largest in the United States since the $19.6 billion offering by credit card operator Visa Inc (V.N) in March 2008. Read the rest of this entry »
Tags: Billion Dollar, Credit Card, IPO, Santander Brazil, Stock, Stock Market, Visa Inc
Wall Street ends up on surprising retailers’ sales
Sep 3, 2009 Make Money Online
By Angela Moon
NEW YORK (Reuters) – U.S. stocks rose on Thursday, snapping a four-day losing streak, after stronger-than-expected retail sales data eased concerns about the economy before Friday’s important jobs data.
After sharp declines this week, the broad S&P 500 index finished above 1,000 as retailers’ August sales were complemented by a survey showing improvement in the U.S. services sector.
Financials and retail stocks were among the day’s leaders, with Bank of America (BAC.N) up 3.5 percent to $16.84, and Citigroup (C.N) up 4.8 percent at $4.77. The S&P financial sector index .GSPF was up 2.3 percent. Read the rest of this entry »
Tags: Dow Jones, Economy, Finance, Financial Market, Freeport-McMoRan Copper & Gold Inc, McGraw-Hill Cos, Moody's Corp, Newmont Mining Corp, Retail Sale, Stock, Stock Market, Wall Street
Oil climbs above $70 ahead of U.S. data
Sep 1, 2009 Make Money Online
By Christopher Johnson and Catherine Bosley
LONDON (Reuters) – Oil rose above $70 a barrel on Tuesday in choppy trade, as the market awaited U.S. data expected to indicate economic recovery and higher fuel consumption in the world’s biggest energy market.
By 1235 GMT (8:35 a.m. EDT), U.S. crude for October delivery was up 12 cents at $70.08 a barrel. London Brent crude was up 25 cents at $69.90.
Oil has risen from a low of 32.40 in December, helped by economic recovery optimism that lifted global stocks to 10-month highs last month.
The purchasing managers’ index in China, the world’s second-biggest oil user, reached a 16-month high in August..
The data helped crude rise to an intra-day high of $70.64, as the market recovered from a 4 percent fall on Monday in response to worries about Chinese curbs to lending.
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Tags: API, Barrel, Crude Oil, crude stocks, economic, EIA, Global Stock, Market, Oil, Oil prices, petroleum, Stock, Stock Market
Oil up slightly on economic optimism
Aug 28, 2009 Make Money Online
By Richard Valdmanis
NEW YORK (Reuters) – Oil prices rose slightly on Friday amid lingering optimism that the recession is ending, spelling a rebound in ailing world energy demand.
U.S. crude for October rose 25 cents to settle at $72.74 a barrel while London Brent advanced 28 cents to $72.79 a barrel.
The strength extends Thursday’s gain of $1.06 on the back of better-than-expected GDP and jobs data in the United States, the world’s largest energy consumer.
Adding to the optimistic sentiment Friday, data showed U.S. consumer spending rose in July and the U.K. economy shrank slightly less than expected in the second quarter.
“The vast majority of economic data that continues to circulate around the media airwaves is positive and suggestive that the worst is definitely over and the recovery has likely begun in most economies around the world,” said Dominick Chirichella, senior partner, Energy Management Institute, Point Pleasant, New Jersey.
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Tags: Crude Oil, economic, media airwave, Oil Price, oil trader, Stock, Stock Market
For stocks, no beach reading in jobs data
Aug 28, 2009 Make Money Online
By Caroline Valetkevitch
NEW YORK (Reuters) – The last week of summer could prove to be anything but relaxing for stock investors worried about the economy, with the crucial August jobs report on the agenda.
Stocks eked out a second week of gains by Friday’s close. The week’s economic data, including a report showing new home sales rising at their fastest pace in almost a year, helped to keep indexes in positive territory.
But employment has been among the weakest parts of the U.S. economy, keeping investors on edge about the sustainability of an economic recovery.
“We’ve been on a sugar high right now and sooner or later, the market will run out of candy. And this is what’s going to happen on Friday” with the jobs data, said Michael Kane, chief executive officer of Hedgeable, an online portfolio management service, in New York.
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Tags: AIG, AIG's stock, economic, index, insurance, insurer, Job, lender, loan, Mortgage, Stock, Stock Market, Trading
Oil falls on rising U.S. stockpiles
Aug 27, 2009 Make Money Online
By Richard Valdmanis
NEW YORK (Reuters) – Oil slipped on Wednesday, extending hefty losses from the previous session as rising stockpiles of U.S. crude outweighed positive economic data.
U.S. crude for October fell 62 cents to settle at $71.43 a barrel, after falling $2.32 on Tuesday. Brent crude fell 17 cents to $71.65.
The U.S. Energy Information Administration (EIA) reported on Wednesday that crude stocks in the world’s largest energy consumer rose by 200,000 barrels last week due to a rebound in imports.
The increase in stockpiles defied analyst expectations for a 1.1-million-barrel drop, reigniting worries over soft recessionary demand.
“We remain in a situation of massive oversupply, which is off the charts, but it does appear to be peaking,” Summit Energy analyst Brad Samples said. Read the rest of this entry »
Tags: Barrel, Crude Oil, Oil Price, OPEC, Stock, Stock Market
Acer shares rise over 3 pct after Q2 results
Aug 27, 2009 Make Money Online
TAIPEI (Reuters) – Shares of Acer (2353.TW), the world’s No. 3 PC brand, jumped more than 3 percent in early trade on Friday, a day after it reported better-than-expected second-quarter profit.
At 0130 GMT, Acer shares were up 3.39 percent to T$73.20 ($2.23), outperforming the benchmark TAIEX stock index’s 1.76 percent advance.
“We expect the better-than-expected 2Q09 operating margin will improve further,” BNP Paribas wrote in a research note. “We believe Acer is well prepared for the component tightness and upward pricing trend.” Read the rest of this entry »
Tags: Acer Share, PC Brand, Stock, Stock index, Stock Market, TAIEX
Wall St gains as oil jumps; Boeing leads Dow
Aug 27, 2009 Make Money Online
NEW YORK (Reuters) – U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.
The Dow posted its eighth straight gain, led by Boeing Co (BA.N), which rose 8.4 percent to $51.82. The U.S. aircraft manufacturer said its long-delayed 787 Dreamliner would make its first flight by the end of the year.
For the first three days of the week, stocks rose early and fell later, but the pattern reversed on Thursday as shares built momentum throughout the session in tandem with assets identified with improved demand, such as crude oil.
U.S. front-month crude oil prices rose $1.06 to settle at $72.49 a barrel, after dipping as low as $69.83 earlier in the day.
“The market turned around when oil took off,” said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York.
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Tags: AIG, Barrel, Boeing, CEO, Crude Oil, investor, New York Stock Exchange, Price, Stock, Stock Market, Wall Street
