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Overnight Market News – March 26, 2010

admin — Fri, 26 Mar 2010 15:16:27 +0000

The Eurozone Area Reaches Deal to Help Debt-Burdened Greece, Agreeing to a Safety Net of EUR 22B That Only Becomes Available if the Country Can No Longer Access Funds from Financial Markets
General Motors Co Expects to Make Another Payment of USD 1.2B to the US Treasury by the End of March, Aiming to Fully Repay its Debts by June 2010
Mergers & Acquisitions Rises 18% Worldwide to USD 520.4B in the First Quarter of 2010 from the Prior Year, But Falls 16% from Previous Quarter
Japan’s Consumer Prices Fall for the Twelfth Straight Month in February by 1.2%, Increasing Concerns About Deflation and a Stalled Economic Recovery
Russia’s Central Bank Cuts Interest Rates by a Quarter Percentage Point to a Record LO of 8.25% in an Effort to Boost Lending
Swiss Banking Giant, UBS AG Cuts About 200 Jobs in its US Brokerage Unit Which Totals 1.2% of the Company’s 16,295 Employees
Crude Oil Stands at USD 81.30 per Barrel
Ethanol Stands at USD 1.61 per Gallon
Natural Gas Stands at USD 3.98 per British Thermal Unit (Btu)
Gold Stands at USD 1,099.90 per Troy Ounce
Dow Jones Industrial Average Rises 5.06 Points (0.05%)
London FTSE Index Falls 21.54 Points (-0.38%)
Japan Nikkei Index Rises 167.52 Points (1.55%)
Hong Kong Hang Seng Index Rises 274.56 Points (1.32%)
Brazil Bovespa Index Falls 471.74 Points (-0.68%)

Euro Zone Woes Continue

admin — Wed, 02 Sep 2009 20:02:07 +0000

Despite reporting a smaller-than-expected second quarter economic contraction, the woes continue for the 16 countries that form the Euro Zone. The region’s unemployment rate rose to a seasonally adjusted rate of 9.5% (15.1 million people) in July. This is the worst monthly percentage figure the Euro Zone has seen in about 10 years.

Additionally, the unemployment rate across the 27-member European Union climbed to 9%, the highest level since 2005. Additionally, the story seems the same in Japan, where the unemployment rate hit a record 5.7% in July.

Overnight Market News – June 15, 2009

admin — Mon, 15 Jun 2009 12:53:21 +0000

International Monetary Fund Head Says Worst of Global Economic Recession Not Over
Eurozone Employment Books Record Decline, Number of Employed Falls 0.8% in First Quarter
US Equity Fund, Kohlberg Kravis Roberts, Confirmed USD 150mm Investment in China-Based Ma Anshan Modern Farming
Dutch Media Company, Endemol in Discussions to Take Over Sports Broadcaster Setanta
Boeing Expects Return to Growth for Commercial Aircraft Industry by Mid-2010
Japan’s Sumitomo Mitsui Financial Group Inc to Raise Up To JPY 923B (USD 9.4B) in Share Sale
Crude Oil Stands at USD 71.09 per Barrel
Ethanol Stands at USD 1.87 per Gallon
Natural Gas Stands at USD 3.85 per British Thermal Unit (Btu)
Gold Stands at USD 935.10 per Troy Ounce
Dow Jones Industrial Average Rises 28.34 Points (0.32%)
London FTSE Index Falls 78.97 Points (-1.78%)
Japan Nikkei Index Falls 96.15 Points (-0.95%)
Hong Kong Hang Seng Index Falls 390.72 Points (-2.07%)
Brazil Bovespa Index Rises 147.30 Points (0.28%)

Ireland Receives Bad Standard & Poor’s Rating

admin — Tue, 09 Jun 2009 15:33:01 +0000

The Irish Republic (Ireland) received another round of bad news as Standard & Poor’s Ratings Service (S&P) lowered its sovereign debt rating for the second time this year. S&P cut the rating on Ireland’s government debt by one level to AA from AA+.

Just three months ago, the former ‘Celtic Tiger’ had its top-notch AAA rating lowered, as its public finances weakened as a result of the recession. The country, once revered for its robust growth, became the first eurozone country to fall into a recession last year.

Overnight Market News – May 29, 2009

admin — Fri, 29 May 2009 16:12:06 +0000

Italy’s Fiat SpA Abandons Talks Regarding the Future of Opel in Berlin, Says German Gov’t “Unreasonable”
Japan’s Factory Output Increased 5.2% in April, Biggest Monthly Gain in Over 50 Years, Manufacturers Expect Further Gains Ahead
Eurozone Inflation Rate at Record LO of 0.0% in May Inducing Concern that Deflation is Imminent
India’s Economic Growth Slowed to Annual Rate of 5.8% in First Quarter, Better than Expected
RH Donnelly Corp, Publisher of US Yellow-Pages, Files for Chapter 11 Bankruptcy Protection
Swedish Court Grants General Motors Corp’s (GM) Loss-Making Saab Business Additional Time to Restructure
Crude Oil Stands at USD 66.11 per Barrel
Ethanol Stands at USD 1.82 per GallonNatural Gas Stands at USD 4.05 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 103.78 Points (1.25%)
London FTSE Index Rises 58.25 Points (1.33%)
Japan Nikkei Index Rises 71.11 Points (0.75%)
Hong Kong Hang Seng Index Rises 285.73 Points (1.60%)
Brazil Bovespa Index Rises 1,249.13 Points (2.41%)

Overnight Market News – May 15, 2009

admin — Fri, 15 May 2009 14:29:11 +0000

Eurozone Economies Shrink 2.5% in First Quarter, Most Since 1995
General Motors Corp Close to Agreement with United Anto Workers Union (UAW) to Cut Labor Costs by Over USD 1B per Year
Panasonic Corp Forecasts Larger-Than-Expected Annual Loss Following First-Quarter Net Loss of JPY 444.3B vs Net Profit of JPY 61.6B yoy
Temasek Holdings Pte Sells Its 3.5% Holding in Bank of America Corp (BAC) at an Estimated Loss of USD 4.6B
Rio Tinto Group Reaffirms its Commitment to Planned USD 19.5B Investment Deal with Chinalco
Nike Inc to Cut Approximately 1,750 Jobs or 5% of Global Workforce
Crude Oil Stands at USD 58.20 per Barrel
Ethanol Stands at USD 1.82 per Gallon
Natural Gas Stands at USD 4.26 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 46.43 Points (0.56%)
London FTSE Index Falls 2.89 Points (-0.07%)
Japan Nikkei Index Rises 171.29 Points (1.88%)
Hong Kong Hang Seng Index Rises 249.01 Points (1.51%)
Brazil Bovespa Index Rises 766.83 Points (1.58%)