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Overnight Market News – February 3, 2010

admin — Wed, 03 Feb 2010 10:43:30 +0000

Ford Motor Co January US Sales Jump 25%, While Rival Toyota Motor Corp Sees 16% Decline Following Massive Recall
Mitsubishi UFJ Financial Group Inc, Japan’s Biggest Bank by Market Value Posts Third-Quarter Net Income of JPY 76.1B (USD 842.2mm) Versus Year-Ago Loss of JPY 134.1B
Bank of America Corp Set Aside Over USD 4B in 2009 to Pay Bonuses to its Investment-Banking Employees, Each Banker Will Collect an Average of USD 400k
Honda Motor Co Fiscal Third-Quarter Profit Surges to JPY 134.6B (USD 1.46B) from JPY 20.2B a Year Ago on Cost Savings
Swiss Drug-Maker, Roche Holding AG Full-Year Net Profit Slips 22% to CHF 8.51B (USD 8B) on Costs Associated with Genentech Acquisition
Airbus SAS, the World’s Largest Aircraft-Maker Lifts 20-Year Asia-Pacific Demand Forecast by 4%, Now Expects Carriers in the Region to Buy 8k Planes Worth USD 1.2T
Crude Oil Stands at USD 77.87 per Barrel
Ethanol Stands at USD 1.81 per Gallon
Natural Gas Stands at USD 4.45 per British Thermal Unit (Btu)
Gold Stands at USD 1,121.30 per Troy Ounce
Dow Jones Industrial Average Rises 111.32 Points (1.09%)
London FTSE Index Rises 12.91 Points (0.24%)
Japan Nikkei Index Rises 33.24 Points (0.32%)
Hong Kong Hang Seng Index Rises 449.90 Points (2.22%)
Brazil Bovespa Index Rises 591.47 Points (0.89%)

Overnight Market News – December 17, 2009

admin — Thu, 17 Dec 2009 19:55:12 +0000

Bank of America Corp Appoints Brian T Moynihan as Chief Executive Officer to Replace Kenneth D Lewis
Citigroup Inc Prices Share Issue to Repay TARP Funds at USD 3.15 per Share, Prompts US Government to Delay Offloading Stake
UK Retail Sales Decline for First Time in Six Months Falling 0.3% in November from October, but Rise 3.1% Year-Over-Year (yoy)
American International Group Inc (AIG) Near IPO for Asia Life Insurance Unit, Set to Raise USD 20B
US Federal Reserve Keeps Interest Rates on Hold between 0% and 0.25%, In-Line with Economists’ Expectations
National Australia Bank Ltd Offers AUD 6.43 a Share for Axa Asia Pacific Holdings Ltd, Beating the AUD 6.22 per Share Joint Bid by AMP Ltd and Axa SA
Crude Oil Stands at USD 71.75 per Barrel
Ethanol Stands at USD 1.85 per Gallon
Natural Gas Stands at USD 5.48 per British Thermal Unit (Btu)
Gold Stands at USD 1,125.00 per Troy Ounce
Dow Jones Industrial Average Falls 10.88 Points (-0.10%)
London FTSE Index Falls 30.34 Points (-0.57%)
Japan Nikkei Index Falls 13.61 Points (-0.13%)
Hong Kong Hang Seng Index Falls 264.11 Points (-1.22%)
Brazil Bovespa Index Falls 688.41 Points (-0.99%)

Overnight Market News – December 4, 2009

admin — Fri, 04 Dec 2009 11:53:46 +0000

Bank of America Corp (BAC) Raises USD 19.3B from Securities Sale to Help Finance its USD 45B Repayment to Government
US Jobs Data for November to Be Released Today, Economists Expect 125k Job Losses and 10.2% Unemployment Rate
Citigroup Inc Says Repayment of TARP Funds Impeded by US Treasury’s Holding of 34% of the Bank
Cisco Systems Inc to Proceed with Tandenberg Deal Though Only 89% of Shareholders Accepted its USD 3.4B Offer, Versus the 90% Requirement it Previously Set
UK Car Sales Climb 57.6% in November 2009 Over the Previous Year
China Longyuan Power Group Corp Raises HKD 17.5B (USD 2.3B) in Wind Power Initial Public Offering (IPO)
Crude Oil Stands at USD 75.85 per Barrel
Ethanol Stands at USD 2.01 per Gallon
Natural Gas Stands at USD 4.50 per British Thermal Unit (Btu)
Gold Stands at USD 1,204.20 per Troy Ounce
Dow Jones Industrial Average Falls 86.53 Points (-0.83%)
London FTSE Index Falls 32.18 Points (-0.61%)
Japan Nikkei Index Rises 44.92 Points (0.45%)
Hong Kong Hang Seng Index Falls 55.72 Points (-0.25%)
Brazil Bovespa Index Falls 299.97 Points (-0.44%)

Overnight Market News – December 3, 2009

admin — Thu, 03 Dec 2009 14:49:15 +0000

Bank of America Corp is Set to Repay USD 45B in Government Bailout Funds, Lifting Pay Restrictions as the Bank Recruits its New Chief Executive Officer (CEO)
General Electric Co and Comcast Corp Reaches Deal Which Would Give Comcast Corp a 51% Stake in NBC Universal (NBCU), Valuing the Unit at About USD 30B
American Airlines and Other Members of the Oneworld Alliance Along with Private Fund TPG Offers to Invest USD 1B in Japan Airlines Corp, Doubling the Bid Led by Delta Airlines Inc and the Skyteam Group
European Central Bank (ECB) is Expected to Announce Later Today that it Will Keep Interest Rates at 1% and Will Begin Decreasing its Financial Crisis Support
Volkswagen AG to Purchase 49% Stake in Porsche SE as Early as Next Week Says Chief Financial Officer, and Acquire the Remaining 51% Stake in 2011
Siemens AG Narrows Loss in its Fourth Quarter to EUR 1.1B (USD 1.65B), Down From a Loss of EUR 2.4B a Year Ago on Reduced Write Downs on its Nokia Siemens Networks Business
Crude Oil Stands at USD 77.19 per Barrel
Ethanol Stands at USD 1.95 per Gallon
Natural Gas Stands at USD 4.56 per British Thermal Unit (Btu)
Gold Stands at USD 1,215.90 per Troy Ounce
Dow Jones Industrial Average Falls 18.90 Points (-0.18%)
London FTSE Index Rises 21.11 Points (0.40%)
Japan Nikkei Index Rises 368.73 Points (3.84%)
Hong Kong Hang Seng Index Rises 264.30 Points (1.19%)
Brazil Bovespa Index Rises 206.39 Points (0.30%)

Overnight Market News – November 30, 2009

admin — Mon, 30 Nov 2009 15:01:17 +0000

United Arab Emirate (UAE) Stocks Plunge 7% as the Stock Market Opens for the First Time Since Dubai Announced that it Would Ask Creditors for a Delay of its Debt Repayment
US Consumers Spent 8.04% Less, On Average (Approximately USD 343 per Person) over Thanksgiving Holiday Weekend Compared with the Year-Ago Period
Emerging Market Stocks Rebound after UAE Central Bank Says it “Stands Behind” Dubai’s Local and Foreign Banks
UK Home Prices Rise for Fourth Month in November, by 0.2% Quarter-Over-Quarter
India’s Economy Expands at Faster-than-Expected Rate of 7.9% Year-Over-Year, Manufacturing and Services Rise
Bank of America Corp Cuts Salaries of Two Top Executives after Government-Appointed Pay Czar’s Compensation Review
Crude Oil Stands at USD 76.06 per Barrel
Ethanol Stands at USD 2.12 per Gallon
Natural Gas Stands at USD 5.11 per British Thermal Unit (Btu)
Gold Stands at USD 1,169.70 per Troy Ounce
Dow Jones Industrial Average Falls 154.48 Points (-1.48%)
London FTSE Index Falls 27.82 Points (-0.53%)
Japan Nikkei Index Rises 264.03 Points (2.91%)
Hong Kong Hang Seng Index Rises 687.00 Points (3.25%)
Brazil Bovespa Index Rises 690.35 Points (1.04%)

Overnight Market News – October 22, 2009

admin — Thu, 22 Oct 2009 11:26:36 +0000

China’s Q03 2009 Gross Domestic Product Expands 8.9% Year-Over-Year (yoy) on Stimulus Spending and Lending Growth
Bank of America Corp Agrees to Sell First Republic Bank to Investor Group Led by General Atlantic LLC and Colony Capital LLC for Over USD 1B
Insurance Giant, The Travelers Cos Third Quarter Net Income More than Quadruples to USD 935mm or USD 1.65 per Share on Underwriting Gains
LM Ericsson AB Posts 71% Plunge in Third Quarter Net Income to USD 118mm as Clients Cut Spending on Mobile Networks
Credit Suisse Group AG Posts Third Quarter Net Income of CHF 2.35B (USD 2.33B) Versus Loss of CHF 1.26B (yoy) on Trading Gains
Swiss Drugmaker, Novartis AG Slightly Misses Estimates with Flat Third Quarter Profit of USD 2.1B
Crude Oil Stands at USD 81.37 per Barrel
Ethanol Stands at USD 2.06 per Gallon
Natural Gas Stands at USD 5.10 per British Thermal Unit (Btu)
Gold Stands at USD 1,063.70 per Troy Ounce
Dow Jones Industrial Average Falls 92.12 Points (-0.92%)
London FTSE Index Falls 88.29 Points (-1.68%)
Japan Nikkei Index Falls 66.22 Points (-0.64%)
Hong Kong Hang Seng Index Falls 107.59 Points (-0.48%)
Brazil Bovespa Index Rises 182.48 Points (0.28%)

Overnight Market News – October 13, 2009

admin — Tue, 13 Oct 2009 12:11:21 +0000

American International Group (AIG) Inc Agrees to Sell Taiwan Life Insurance Unit to Investor Group Led by Primus Financial Holdings Ltd for USD 2.15B
Bank of America Corp to Waive Attorney-Client Privilege and Turn Over Merill Lynch & Co Legal Advice Documentation to New York Attorney General
Vanda Pharmaceuticals Inc to Partner with Novartis AG to Develop and Market its Schizophrenia Drug in a Deal Worth up to USD 465mm
Germany’s Investor Confidence Index Unexpectedly Falls to 56 Points in October from 57.5 Points in September, First Decline in Three Months
Royal Bank of Scotland Group PLC Says Seventy Employees or About One-Third of its Staff at the Singapore Office of its Private Bank Have Stepped Down
Crude Oil Stands at USD 73.27 per Barrel
Ethanol Stands at USD 1.96 per Gallon
Natural Gas Stands at USD 4.88 per British Thermal Unit (Btu)
Gold Stands at USD 1,056.70 per Troy Ounce
Dow Jones Industrial Average Rises 20.86 Points (0.21%)
London FTSE Index Falls 15.98 Points (-0.31%)
Japan Nikkei Index Rises 60.17 Points (0.60%)
Hong Kong Hang Seng Index Rises 168.01 Points (0.79%)
Brazil Bovespa Index Rises 311.14 Points (0.49%)

Goldman Sachs Statement Pushes US Bank Shares Higher

admin — Tue, 06 Oct 2009 23:11:18 +0000

Goldman Sachs Group Inc pushed up shares of U.S. banks yesterday, after saying that the market has not recognized the significant improvement in earnings potential at big banks. Goldman Sachs boosted ratings on Wells Fargo & Co. to “Buy” from “Neutral”, added Capital One Financial Corp. to its “Conviction Buy” list and reaffirmed the “Conviction Buy” rating on Bank of America and JPMorgan Chase.

Financial stocks outperformed the market on Monday, rising 2.32% compared with the 1.49% climb for the S&P 500 Index.

Ameriprise Financial Buys Stock & Mutual Fund Business Of BOA’a Columbia Management Unit

admin — Thu, 01 Oct 2009 11:50:15 +0000

Within the past month, mergers and acquisitions around the world have begun to pick up the pace, with Ameriprise Financial Ltd. being the latest company to get bitten by this bug.

Ameriprise Financial Ltd. has snagged the stock and mutual fund business of Bank of America Corp’s Columbia Management unit, for a price tag of up to US$1.2B. The deal would make Ameriprise Financial the eighth largest manager of longer term mutual funds in the U.S., pushing the company’s total asset portfolio to nearly US$400B.

Overnight Market News – September 22, 2009

admin — Tue, 22 Sep 2009 14:20:48 +0000

Asian Development Bank Raises 2009 Growth Forecast for Region to 3.9% from 3.4%, But Says Still too Early to Exit Stimulus Measures
Bank of America Corp to Pay US Government USD 425mm to Cancel Unused Guarantee Related to Merrill Lynch & Co Takeover, But Faces New SEC Trial Related to Bonuses
Ford Motor Co and Chinese Partner, Changan Motor to Build Third Plant in China to Keep Pace with Growing Sales
China Investment Corp to Acquire 14.9% Stake in Commodities Trader Noble Group Ltd for USD 850mm
Credit Suisse Group AG to Hire a Third Fewer Private Bankers per Year on Stiff Competition
Taiwan to Begin Trade Mission to Trinidad & Tobago, St Vincent and St Lucia Aimed at Boosting Regional Trade Relations
Crude Oil Stands at USD 69.71 per Barrel
Ethanol Stands at USD 1.71 per Gallon
Natural Gas Stands at USD 3.58 per British Thermal Unit (Btu)
Gold Stands at USD 1,003.70 per Troy Ounce
Dow Jones Industrial Average Falls 41.34 Points (-0.42%)
London FTSE Index Rises 42.85 Points (0.83%)
Japan Nikkei Index Falls 73.26 Points (-0.70%)
Hong Kong Hang Seng Index Rises 228.29 Points (1.06%)
Brazil Bovespa Index Rises 225.01 Points (0.37%)