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Overnight Market News – January 5, 2010

admin — Tue, 05 Jan 2010 15:36:37 +0000

Kraft Foods Inc Sells US Frozen Pizza Business to Nestle SA for USD 3.7B, Raising Funds to Improve its Bid for Cadbury Plc
South Korean Conglomerate, Kumho Asiana Group Plans to Raise USD 1.1B Via Asset Sales and Job Restructuring in Effort to Repay Debt
UAL Corp’s United Airlines Division Plans to Sell USD 500mm Worth of Senior Notes for “General Corporate Purposes”
Ford Motor Co’s Chinese Joint Venture 2009 Sales Rise 54.5% to 316.14k Units from a Year Ago
German Unemployment Fell for a Sixth Consecutive Month in December with the Number of Unemployed Declining by a Seasonally Adjusted 3k to 3.42mm
Biotechnology Firm, Biogen Idec Inc Announces Retirement of President and Chief Executive Officer, James Mullen Effective June 8, 2010
Crude Oil Stands at USD 81.64 per Barrel
Ethanol Stands at USD 1.97 per Gallon
Natural Gas Stands at USD 5.79 per British Thermal Unit (Btu)
Gold Stands at USD 1,125.50 per Troy Ounce
Dow Jones Industrial Average Rises 155.91 Points (1.5%)
London FTSE Index Rises 4.37 Points (0.08%)
Japan Nikkei Index Rises 27.04 Points (0.25%)
Hong Kong Hang Seng Index Rises 456.30 Points (2.09%)
Brazil Bovespa Index Rises 1,456.67 Points (2.12%)

Overnight Market News – December 22, 2009

admin — Tue, 22 Dec 2009 12:14:00 +0000

UK Gross Domestic Product Shrinks Less-Than-Expected in Q03 2009, Declining 0.2% Quarter-Over-Quarter Versus Previous Measurement of a 0.3% Contraction
Ford Motor Co Offers Buyout and Early Retirement Incentives to All of its 41,000 US Hourly Workers in Bid to Further Reduce Factory Costs
Lloyds Banking Group Plc Agrees to Pay a Minimum of USD 3.6B Over Fifteen Years to Raise USD 2B in Tier 1 capital.
General Motors Co Appoints Microsoft Corp’s Outgoing Finance Executive, Chris Liddell, as its New Chief Financial Officer and Vice Chairman
Moody’s Investors Service Lowers Greece’s Credit Rating by One Notch to A2 from A1
Macarthur Coal Ltd Offers AUD 656mm (USD 577mm) in Cash for Gloucester Coal Ltd
Crude Oil Stands at USD 73.82 per Barrel
Ethanol Stands at USD 1.85 per Gallon
Natural Gas Stands at USD 5.72 per British Thermal Unit (Btu)
Gold Stands at USD 1,097.30 per Troy Ounce
Dow Jones Industrial Average Rises 85.25 Points (0.83%)
London FTSE Index Rises 40.70 Points (0.77%)
Japan Nikkei Index Rises 194.56 Points (1.91%)
Hong Kong Hang Seng Index Rises 143.94 Points (0.69%)
Brazil Bovespa Index Falls 869.02 Points (-1.3%)

Overnight Market News – November 3, 2009

admin — Tue, 03 Nov 2009 11:48:41 +0000

European Union (EU) Raises Euro Zone Economic Forecast, Now Anticipates Growth of 0.7% in 2010 Compared with Prior Forecast for a Contraction of 0.1%
Royal Bank of Scotland PLC and Lloyds Banking Group PLC Agree to Dispose of Hundreds of Branches to Appease EU Competition Concerns Over the Banks’ Dependency on the State
Australia Lifts Key Interest Rate by 25 Basis Points to 3.5%, Second Straight Monthly Increase
Ford Motor Co to Raise Additional USD 3B Through Rights Issue and Convertible Debt Offering as it Seeks to Reduce Hefty Debt Burden
India, the World’s Biggest Gold Consumer, Purchases 200 Tonnes of the Precious Metal from the IMF in Order to Boost Reserves
Crude Oil Stands at USD 78.13 per Barrel
Ethanol Stands at USD 1.96 per Gallon
Natural Gas Stands at USD 4.81 per British Thermal Unit (Btu)
Gold Stands at USD 1,061.30 per Troy Ounce
Dow Jones Industrial Average Rises 76.71 Points (0.79%)
London FTSE Index Falls 104.54 Points (-2.05%)
Japan Nikkei Index Falls 231.79 Points (-2.31%)
Hong Kong Hang Seng Index Falls 380.13 Points (-1.76%)
Brazil Bovespa Index Falls 2,175.08 Points (-3.41%)

Ford Shifts Attention To Asia

admin — Thu, 24 Sep 2009 18:50:09 +0000

Ford Motor Co. is shifting attention to rapidly growing markers such as the Asia Pacific region, which is expected to lead the global rebound in auto-buying. Just yesterday, Ford’s CEO said it would “accelerate its presence” in the region as it launched a new small car in India, and announced that it would open a third plant in China.

The CEO also said that the U.S. market is “looking good”, and that he expects vehicle sales to rise. Ford’s shares advanced on this positive move, rising 4.99% to US$7.39 at close yesterday.

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%)

Dow Soars Above 9000

admin — Fri, 24 Jul 2009 23:06:18 +0000

Solid earnings at Ford Motor Co. and others, sent the Dow Jones Industrial Average (DJIA) soaring above 9000 points in the early hours of trading yesterday. This marked the first time that the world’s best known stock market gauge had risen above the 9000 mark since January 2009.

Likewise, the Standard & Poor’s 500 Index (S&P 500) hit 967.53 yesterday morning, its highest level since November 2008. The DJIA and S&P 500 continued their winning streaks for the rest of the day, adding 2.12% to close at 9069.29 points and 2.33% to 976.29 points respectively.

Ford Announces Production Boost

admin — Wed, 03 Jun 2009 16:32:24 +0000

Ford Motor Co, the only major U.S. automaker to avoid filing for bankruptcy, has raised the bar once again. The Company announced it will boost production this quarter and the next as it continues to capture market share while its main U.S. rivals remain under court protection. On top of this, Ford released better-than-expected U.S. sales figures for May with total sales of 161531 units, down 24.2% year over year (yoy). Ford also said it may return to profitability in 2011 as it will benefit from cost-cutting efforts and improved car models to meet consumer demand.

Overnight Market News – May 13, 2009

admin — Wed, 13 May 2009 16:02:27 +0000

European Commission Fines Intel Corp USD 1.45B on Using Rebates to Impede A Competitor
Japan’s Current Account Surplus Falls 50.2% in Year Through March to JPY 12.23T (USD 127B)
International Business Machines Corp (IBM) Ready to Launch New Real-Time Data Analysis Software
US Bancorp Sells USD 2.5B Worth of Common Stock After Passing Stress Test Hoping to Persuade Regulators it is Strong Enough to Repay TARP
Ford Motor Co Raises USD 1.4B through USD 300mm Share Offer at USD 4.75 per Unit
Europe’s Second-Biggest Phone Company, Telefonica SA First-Quarter Profit Rises 9.8% As it Increased Latin American Customers
Crude Oil Stands at USD 59.38 per Barrel
Ethanol Stands at USD 1.82 per Gallon
Natural Gas Stands at USD 4.52 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 50.34 Points (0.60%)
London FTSE Index Falls 29.11 Points (-0.66%)
Japan Nikkei Index Rises 41.88 Points (0.45%)
Hong Kong Hang Seng Index Falls 94.02 Points (-0.55%)
Brazil Bovespa Index Falls 650.61 Points (-1.28%)