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Overnight Market News – May 25, 2010

admin — Tue, 25 May 2010 11:38:45 +0000

UK Economy Grows Faster Than Previously Estimated in the First Quarter, Expanding 0.3% Up From the Original Estimate of 0.2%
Marks & Spencer Group Plc’s Fiscal 2009 Full-Year Earnings Tops Estimates as Net Profit Rises 4.6% to GBP 632.5mm
Nokia Corp and Yahoo! Inc Announce Mobile Web Partnership Aimed at Strengthening Their Presence in Emerging Markets
British Airways Plc’s Flights Continues to be Disrupted as the Company’s Cabin Crew Enter Their Second Day of Strike
Volkswagen AG Agrees to Acquire 90.1% Stake in Italdesign-Giugiaro SpA in an Effort to Boost its Vehicle Design Team
International Business Machines Corp to Purchase AT&T Inc’s Sterling Commerce Unit for USD 1.4B
Crude Oil Stands at USD 67.94 per Barrel
Ethanol Stands at USD 1.60 per Gallon
Natural Gas Stands at USD 4.00 per British Thermal Unit (Btu)
Gold Stands at USD 1,193.20 per Troy Ounce
Dow Jones Industrial Average Falls 126.82 Points (-1.24%) to 10,066.57
London FTSE Index Falls 136.72 Points (-2.7%) to 4,932.89
Japan Nikkei Index Falls 298.51 Points (-3.06%) to 9,459.89
Hong Kong Hang Seng Index Falls 682.26 Points (-3.47%) to 18,985.50
Brazil Bovespa Index Falls 344.19 Points (-0.57%) to 59,915.14

Overnight Market News – November 25, 2009

admin — Thu, 26 Nov 2009 02:58:47 +0000

UK Economy Contracts at a Slower Pace Than Originally Reported in the Third Quarter, Shrinking 0.3% Versus 0.4% Initially Estimated
US Commerce Department is Expected to Report This Morning New Home Sales in October Rises 2% from the Prior Month
Japan Exports Fall at its Slowest Annual Rate in a Year in October, Declining 23.2% from a Year Ago, Indicating Further the Country’s Emergence from Recession
American International Group Inc’s (AIG) Chief Executive Officer, Robert Benmosche Agrees to Stay With Company After Board Approves USD 7mm Compensation Package
Facebook Inc Creates Dual-Class Share Structure, a Move Taken by Google Inc Before its Initial Public Offering (IPO)
Crude Oil Stands at USD 76.17 per Barrel
Ethanol Stands at USD 2.18 per Gallon
Natural Gas Stands at USD 4.81 per British Thermal Unit (Btu)
Gold Stands at USD 1,181.00 per Troy Ounce
Dow Jones Industrial Average Falls 17.24 Points (-0.16%)
London FTSE Index Rises 28.74 Points (0.54%)
Japan Nikkei Index Rises 40.06 Points (0.43%)
Hong Kong Hang Seng Index Rises 188.66 Points (0.84 %)
Brazil Bovespa Index Rises 507.60 Points (0.76%)

Uk Economy Still In Recession

admin — Sat, 24 Oct 2009 08:20:21 +0000

Despite hopes for an end to the recession, the United Kingdom Office of National Statistics reported yesterday that the UK economy fell into recession for a sixth straight quarter, making it the longest downturn on record.

The UK’s third quarter domestic Gross Domestic Product (GDP) declined by 0.4% from the previous quarter, thwarting hope for anticipated growth of 0.2%. The economy shrank 5.2% from a year ago, a slight improvement from Q02 2009′s record 5.5% contraction. The UK continues to suffer from a fall-off in its vital services industry.

UK Economy Expected To Contract in 2009

admin — Fri, 04 Sep 2009 20:11:52 +0000

The Organisation for Economic Co-operation and Development (OECD) came bearing good news for the global economy, except -that is- for the UK. The OECD expects global growth to rebound more quickly than it initially forecasted, but added that the UK economy would contract by 4.7% this year, worse than its previous expectation of 4.3%, and worse than the 4.5% decline the U.S. Treasury anticipated.

Unfortunately, this development will not allow an overly comfortable experience for Britain’s Finance Minister, who must meet his G20 counterparts in London soon.

Overnight Market News – July 24, 2009

admin — Fri, 24 Jul 2009 12:31:51 +0000

Microsoft Corp Sales Fall for Second Consecutive Quarter, Dropping 17% to USD 13.1B for its Fourth Quarter Behind Forecasts of USD 14.4B
UK Economy Shrinks by 0.8% in Second Quarter from Previous Quarter, More than Double Economists’ Forecast of a 0.3% Contraction
South Korea Economy Grows by 2.3% in Second Quarter from Previous Three Months, the Biggest Advance in Almost Six Years
Samsung Electronics Co Ltd Second Quarter Profits Jumps 5% to USD 1.81B from a Year Ago, Recording Best Net Profit in 10 Quarters
German Business Confidence Rises for Fourth Straight Month in July to 87.3, Up from 85.9 in June
Thailand’s Central Bank Lowers Outlook with Increased Gross Domestic Product (GDP) Contraction of 4.5% for 2009 from 3.5% Forecast Set in April
Crude Oil Stands at USD 67.42 per Barrel
Ethanol Stands at USD 1.68 per Gallon
Natural Gas Stands at USD 3.60 per British Thermal Unit (Btu)
Gold Stands at USD 951.70 per Troy Ounce
Dow Jones Industrial Average Rises 188.03 Points (2.12%)
London FTSE Index Rises 27.62 Points (0.61%)
Japan Nikkei Index Rises 151.61 Points (1.55%)
Hong Kong Hang Seng Index Rises 165.09 Points (0.83%)
Brazil Bovespa Index Rises 1,176.79 Points (2.22%)

Overnight Market News – July 20, 2009

admin — Mon, 20 Jul 2009 14:46:17 +0000

CIT Group Inc to Announce Deal for USD 3B Rescue Financing from Bondholders to Avoid Bankruptcy
National Association for Business Economics’ (NABE) Quarterly Survey Indicates US Economy Appears to be Improving, but Downturn Not Over
UK Economy to Contract 4.5% in 2009, Worse than Government’s Forecast of 3.5% and the Biggest Decline in A Single Year According to Ernst & Young Item Club
Nissan Motor Co, Renault SA to Start Producing Lithium-Ion Batteries for Electric Cars at UK and Portugal Factories
Iceland Announces GBP 1.3B Plan to Boost Banking System, Gov’t to Fund 3 New Banks it Will Create from Failed Ones
Porsche Automobil Holding SE Expected to Accept Offer from Volkswagen AG to Buy Its Sports-Car Business for EUR 8B (USD 11.28B) Later This Week
Crude Oil Stands at USD 64.77 per Barrel
Ethanol Stands at USD 1.63 per Gallon
Natural Gas Stands at USD 3.74 per British Thermal Unit (Btu)
Gold Stands at USD 937.20 per Troy Ounce
Dow Jones Industrial Average Rises 32.12 Points (0.37%)
London FTSE Index Rises 65.59 Points (1.49%)
Japan Nikkei Index Rises 51.16 Points (0.55%)
Hong Kong Hang Seng Index Rises 696.71 Points (3.70%)
Brazil Bovespa Index Rises 154.29 Points (0.30%)

UK Economy Reports Worst Contraction in 50 Years

admin — Wed, 01 Jul 2009 21:03:30 +0000

The UK Economy has definitely seen better days, as yesterday it reported the worst contraction in 50 years, as the economy shrank by 2.4% in Q01 2009. This was significantly higher than the 1.9% decline previously reported by the Office for National Statistics (ONS).

The revised contraction also exceeded analysts’ forecasts of 2.1%. The Office for National Statistics stated that the greater than expected decline was mostly due to weaker output in the construction and manufacturing sectors. Despite signs of a turnaround, the Bank of England warns of a slow recovery.

Overnight Market News – June 30, 2009

admin — Tue, 30 Jun 2009 11:01:56 +0000

UK Says Economy Shrank by 2.4% in Q01 2009, Sharper than Previous Estimate of a 1.9% Decline and Worst Contraction Since 1958
Japan’s Jobless Rate Jumps to 5.2% in May from 5.0% in April, Highest Level in Almost 6 Years
European Inflation Posts First Annual Decline of 0.1% in June on Declining Energy and Food Costs
General Motors Corp Nears Deal with RHJ International to Spin Off Opel Unit
Johnson & Johnson Arm Receives USD 1.67B Verdict Against Abbott Laboratories in Patent Infringement Suit
Chinalco to Take Up its Full Entitlement to Rio Tinto Plc’s USD 15.2B Share Issue
Crude Oil Stands at USD 71.49 per Barrel
Ethanol Stands at USD 1.79 per Gallon
Natural Gas Stands at USD 3.94 per British Thermal Unit (Btu)
Gold Stands at USD 940.40 per Troy Ounce
Dow Jones Industrial Average Rises 90.99 Points (1.08%)
London FTSE Index Rises 8.41 Points (0.20%)
Japan Nikkei Index Rises 174.97 Points (1.79%)
Hong Kong Hang Seng Index Falls 149.78 Points (-0.81%)
Brazil Bovespa Index Rises 651.97 Points (1.27%)