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Overnight Market News – March 31, 2010

admin — Wed, 31 Mar 2010 15:45:52 +0000

Citigroup Inc Plans to Spin-Off its Life Insurance and Investment Products Unit, Primerica Inc in an Initial Public Offering (IPO) this Week
Cnooc Ltd, China’s Largest Offshore Energy Explorer Posts a 34% Decline in Full-Year Profit to CNY 29.5B from a Record CNY 44.4B a Year Ago
Eurozone Inflation Rises to 1.5% in March from a Year Earlier, the Highest Reading Since December 2008
The Irish Government to Inject Another EUR 8.3B into the Nationalised Anglo Irish Bank, Stating That This Was “the Least Worst Option”
Australia’s Macarthur Coal Ltd Rejects a USD 3B Takeover Bid from US Coal Giant Peabody Energy Corp
Crude Oil Stands at USD 82.90 per Barrel
Ethanol Stands at USD 1.57 per Gallon
Natural Gas Stands at USD 4.06 per British Thermal Unit (Btu)
Gold Stands at USD 1,109.70 per Troy Ounce
Dow Jones Industrial Average Rises 11.56 Points (0.11%)
London FTSE Index Rises 7.82 Points (0.14%)
Japan Nikkei Index Falls 7.20 Points (-0.06%)
Hong Kong Hang Seng Index Falls 135.44 Points (-0.63%)
Brazil Bovespa Index Rises 20.46 Points (0.03%)

Overnight Market News – March 29, 2010

admin — Mon, 29 Mar 2010 13:38:51 +0000

Greece to Sell 7-Year Bonds in First Debt Offering Since EU, IMF Pledged Aid
China’s Zhejiang Geely Holding Group Signs Deal to Buy Ford Motor Co’s Volvo Unit for USD 1.8B
European Economic Confidence Rises More than Expected in March to 97.7 from 95.9 in February
PetroChina Co to Spend USD 60B Over Next Ten Years on Overseas Acquisitions
Morgan Stanley to be Underwriter, Advisor on Sale of US Government’s 27% Stake in Citigroup Inc
Japanese Retail Sales Rise Sharply in February, by 4.2% Year-Over-Year on Government Stimulus Efforts
Crude Oil Stands at USD 80.81 per Barrel
Ethanol Stands at USD 1.61 per Gallon
Natural Gas Stands at USD 3.89 per British Thermal Unit (Btu)
Gold Stands at USD 1,104.20 per Troy Ounce.
Dow Jones Industrial Average Rises 9.15 Points (0.08%)
London FTSE Index Rises 9.49 Points (0.17%)
Japan Nikkei Index Falls 9.90 Points (-0.09%)
Hong Kong Hang Seng Index Rises 184.32 Points (0.88%)
Brazil Bovespa Index Rises 241 Points (0.35%)

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 10, 2009

admin — Thu, 10 Dec 2009 12:25:44 +0000

Citigroup Inc Plans to Repay Portion of Government Aid Via USD 20B Equity Offering that Could be Announced as Early as Today
Panasonic Corp Acquires 50.2% Stake in Sanyo Electronic Co for JPY 403.78B (USD 4.6B)
Costco Wholesale Corp First Quarter Net Profit Rises to USD 266mm from USD 263mm a Year Ago on Increased Revenue
US Foreclosures Decline 8% in November Over October, But Rise 18% Compared with the Year-Earlier Period
Australia’s Unemployment Rate Declines to 5.7% in November from 5.8% in October, Beating Economists’ Estimates for a Rise to 5.9%
Switzerland’s Central Bank to Halt Bond Purchases as it Begins to Exit Emergency Measures
Crude Oil Stands at USD 70.65 per Barrel
Ethanol Stands at USD 1.95 per Gallon
Natural Gas Stands at USD 4.97 per British Thermal Unit (Btu)
Gold Stands at USD 1,125.00 per Troy Ounce
Dow Jones Industrial Average Rises 51.08 Points (0.5%)
London FTSE Index Rises 13.23 Points (0.25%)
Japan Nikkei Index Falls 141.90 Points (-1.42%)
Hong Kong Hang Seng Index Falls 41.72 Points (-0.19%)
Brazil Bovespa Index Rises 283.48 Points (0.42%)

Overnight Market News – November 13, 2009

admin — Fri, 13 Nov 2009 15:42:59 +0000

Eurozone Economy Exits Recession in Third Quarter, Grows 0.4% Compared with Previous Quarter
British Airways PLC, Iberia Lineas Aereas de Espana SA Agree to USD 7B Merger
Citigroup Inc Near Finalizing the JPY 100B (USD 1.1B) Sale of Japan’s Biggest Telemarketer, Bellsystem24, to Private-Equity Firm Bain Capital Inc
The Walt Disney Co (NYSE: DIS) Profits Grow 18% in Fiscal Fourth Quarter on Merger-Related Gain, Growth in Media Networks
Google Inc Acquires Gizmo5 Technologies Inc, a Company Offering Voice-Over-Internet-Protocol Software for Mobile Phones and Computers, Price Not Disclosed
Crude Oil Stands at USD 77.62 per Barrel
Ethanol Stands at USD 1.97 per Gallon
Natural Gas Stands at USD 4.41 per British Thermal Unit (Btu)
Gold Stands at USD 1,105.10 per Troy Ounce
Dow Jones Industrial Average Falls -93.79 Points (-0.91%)
London FTSE Index Rises 9.86 Points (0.19%)
Japan Nikkei Index Falls -34.18 Points (-0.35%)
Hong Kong Hang Seng Index Rises 156.06 Points (0.70%)
Brazil Bovespa Index Falls -1,983.31 Points (-2.99%)

Overnight Market News – September 24, 2009

admin — Thu, 24 Sep 2009 15:39:38 +0000

US Federal Reserve Says Economy Improving, but Stresses Intention to Keep Key Interest Rates at Record Lows for Extended Period
Citigroup Inc to Consider Shrinking North American Retail Branch Network to Six Metropolitan Areas
Germany Lowers Planned Fourth Quarter Debt Sales by 22% on “Improved Funding Conditions”
Japan’s Largest Brokerage, Nomura Holdings Inc to Raise up to JPY 511.3B (USD 5.6B) Through Share Issue to Fund Expansion of Global Operations
Bed Bath & Beyond Inc Second Quarter Profit Rises 14% to USD 0.52 per Share on Increased Revenue and Reduced Costs
Swedish Retailer, H&M Beats Views with 4.1% Increase in Third Quarter Profit to USD 504mm Despite Weak August Sales
Crude Oil Stands at USD 68.97 per Barrel
Ethanol Stands at USD 1.75 per Gallon
Natural Gas Stands at USD 3.86 per British Thermal Unit (Btu)
Gold Stands at USD 1,013.00 per Troy Ounce
Dow Jones Industrial Average Falls 81.32 Points (-0.83%)
London FTSE Index Falls 17.98 Points (-0.35%)
Japan Nikkei Index Rises 173.68 Points (1.67%)
Hong Kong Hang Seng Index Falls 544.79 Points (-2.52%)
Brazil Bovespa Index Falls 997.20 Points (-1.62%)

Overnight Market News – September 15, 2009

admin — Tue, 15 Sep 2009 14:29:51 +0000

Citigroup Inc Explores Options to Offload US Government’s 34% Interest in the Bank, May Raise Capital Through Stock Offering
Bank of England to Consider Lowering Deposit Rate for Reserves to Spur Lending
General Electric Co Acquires Norwegian Firm ScanWind as it Seeks to Penetrate Growing Offshore Wind Market
US Federal Judge Throws Out the Securities & Exchange Commission’s (SEC) Proposed USD 33mm Settlement with Bank of America Corp Over Merrill Lynch Bonuses, Sets New Trial Date
Air France-KLM Considers Making Investment in Japan Airlines Corp, Delta Airlines Inc and American Airlines in Separate Talks with the Loss-Making Carrier
Drug Maker, Eli Lilly & Co Plans to Cut 5,500 Jobs or 14% of its Workforce by 2011 in Effort to Save USD 1B Annually
Crude Oil Stands at USD 68.86 per Barrel
Ethanol Stands at USD 1.71 per Gallon
Natural Gas Stands at USD 3.30 per British Thermal Unit (Btu)
Gold Stands at USD 999.90 per Troy Ounce
Dow Jones Industrial Average Rises 21.39 Points (0.22%)
London FTSE Index Falls 8.68 Points (-0.17%)
Japan Nikkei Index Rises 15.56 Points (0.15%)
Hong Kong Hang Seng Index Falls 65.83 Points (-0.31%)
Brazil Bovespa Index Rises 501.17 Points (0.86%)

Citigroup Downgrades Toll Brothers To “Hold” From “Buy”

admin — Tue, 25 Aug 2009 19:28:11 +0000

After being hit hard by the downturn in the construction industry, Toll Brothers Inc. received yet another blow yesterday, as the luxury homebuilder was downgraded to “hold” from “buy” at Citigroup Inc. – which cautioned investors should “wait for a more compelling entry point” to purchase the stock.

Added to this, many analysts are not convinced that Toll Brothers will be able to deliver improved results any time soon given that its focus is on producing high-end homes, for which demand is still depressed.

Overnight Market News – July 1, 2009

admin — Wed, 01 Jul 2009 11:28:44 +0000

Citigroup Inc Raises Interest Rates on Up to 15mm US Credit Card Accounts
General Mills Inc Reports Jump in Fourth Quarter Profits to USD 358.8mm or USD 1.07 per share, Increases 2010 Profit Forecast
Business Confidence in Japan Improves for First Time in Two and a Half Years to -48, Up from a Record LO of -58 Three Months Ago
China’s Manufacturing Rose for Fourth Consecutive Month on USD 585B Stimulus Plan and Record Bank Lending
British Retailer Marks & Spencer Group Plc Reports Smallest Quarterly Sales Decline in Almost Two Years, Beating Analysts’ Forecasts
Crude Oil Stands at USD 71.15 per Barrel
Ethanol Stands at USD 1.66 per Gallon
Natural Gas Stands at USD 3.84 per British Thermal Unit (Btu)
Gold Stands at USD 931.50 per Troy Ounce
Dow Jones Industrial Average Falls 82.38 Points (-0.97%)
London FTSE Index Rises 61.68 Points (1.45%)
Japan Nikkei Index Falls 18.51 Points (-0.19%)
Hong Kong Hang Seng Index Falls 149.78 Points (-0.81%)
Brazil Bovespa Index Falls 672.12 Points (-1.29%)

Overnight Market News – June 24, 2009

admin — Wed, 24 Jun 2009 12:06:36 +0000

Venezuela’s Government to Continue Reviewing Possibility of Permitting State Oil Company Petroleos de Venezuela SA (PDVSA) to Issue Bonds This Year
Organization for Economic Cooperation and Development (OECD) Expects Combined Economies of Member States to Contract 4.1% in 2009, Up from March’s 4.3% Forecast
Citigroup Inc To Raise Employees’ Base Salaries by as Much as 50% to Compensate for Reduction in Annual Bonuses
The US and European Union (EU) Accuse China of Unfairly Limiting its Raw Material Exports in Complaint to World Trade Organization (WTO), China to Contest Case
JPMorgan Tops The Banker’s Annual List of the 1,000 Strongest Banks, Royal Bank of Scotland (RBS) Suffered Biggest Loss
Crude Oil Stands at USD 68.95 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 3.91 per British Thermal Unit (Btu)
Gold Stands at USD 929.80 per Troy Ounce
Dow Jones Industrial Average Falls 16.10 Points (0.19%)
London FTSE Index Rises 7.32 Points (0.17%)
Japan Nikkei Index Rises 40.71 Points (0.43%)
Hong Kong Hang Seng Index Rises 353.78 Points (2.02%)
Brazil Bovespa Index Rises 318.78 Points (0.64%)