Reuters – 7 mins ago
Honda recalls 167,255 Acura TSX cars in the U.S.DETROIT (Reuters) - Honda Motor Co Ltd (7267.T) said it would recall 167,255 Acura TSX sedans sold in the U.S. market to address the risk that power steering fluid could leak and cause an under-the-hood fire.Stock futures inch higher after GDP rises 3.2 pct
AP – 10 mins agoNEW YORK - Stock futures inched higher Friday after the government said the economy grew at a slightly slower pace in the first quarter than was expected.- NEW YORK (Reuters) - S&P 500 stock index futures pared gains on Friday after the government said the U.S. economy grew at a slightly slower-than-expected pace in the first quarter.
- AP – 2 hrs 18 mins agoLONDON - European stocks traded in a narrow range Friday as investors warily awaited the completion of a Greek support package and looked ahead of U.S. economic figures set to show the world's largest economy continuing to grow solidly.
London stocks subdued at open
AFP – Fri Apr 30, 3:54 am ETLONDON (AFP) - Shares in London started in the red on Friday as crisis-hit Greece appeared to edge closer to a bailout deal.- NEW YORK - Thousands of workers and union leaders marched on Wall Street on Thursday to express their anger over lost jobs, the taxpayer-funded bailout of financial institutions and questionable lending practices by big banks.
Palm shares soar on HP acquisition
AFP – Thu Apr 29, 5:47 pm ETNEW YORK (AFP) - Palm shares soared on Thursday after US computer giant Hewlett-Packard announced it had reached agreement to buy the troubled US mobile phone maker.- Stocks surged higher Thursday after another series of upbeat earnings reports and a reading on unemployment provided more evidence of an improving economy.
Dow climbs 122 on good unemployment, earnings news
AP – Thu Apr 29, 5:05 pm ETTHE DOW'S BIG DAY: The Dow Jones industrials rose 122 points. That brought their two-day advance to 175 as they made back most of the 213 they lost Tuesday amid concerns about European debt problems.Goldman set to settle SEC fraud case soon: report
Reuters – Thu Apr 29, 12:53 pm ETLONDON (Reuters) - Goldman Sachs may soon settle its fraud case with the U.S. regulator, the New York Post reported on Thursday, opting to end a legal fight rather than endure a repeat of the public flogging it received this week.FTSE bounces back as Greek deal nears
AFP – Thu Apr 29, 12:14 pm ETLONDON (AFP) - London's leading stock exchange bounced back on Thursday after a top European Union official said talks on a debt bailout deal for Greece were nearly complete.- WASHINGTON - The head of the Securities and Exchange Commission said Wednesday there was no connection between the timing of the agency's fraud charges against Goldman Sachs and efforts in the Senate to speed passage of sweeping legislation overhauling financial regulation.
A look at global economic developments
AP – Wed Apr 28, 2:40 pm ETA look at economic developments and activity in major stock markets around the world Wednesday:Greek financial crisis sends markets plunging
AFP – Wed Apr 28, 6:06 am ETLONDON (AFP) - Greece's deepening financial crisis sent stock markets and the euro reeling again on Wednesday after its debt was slashed to junk status, fanning fears of a default.- LONDON (AFP) - The leading stock exchange fell at opening on Wednesday, after sharp losses the previous day, as traders were gripped by Greece's financial crisis and the EU called a crunch summit.
SEC probes hedge funds' use of side pockets: report
Reuters – Wed Apr 28, 5:03 am ETNEW YORK (Reuters) - The U.S. Securities and Exchange Commission is taking a closer look at whether hedge fund managers abused a practice known as "side pockets" to prevent clients from withdrawing billions of dollars during the 2008 financial crisis, the Wall Street Journal reported on Tuesday.
Showing posts with label Greece. Show all posts
Showing posts with label Greece. Show all posts
Friday, 30 April 2010
Stock Markets News
World stocks rise amid Greek bailout hopes
LONDON – European stocks traded in a narrow range Friday as investors warily awaited the completion of a Greek support package and looked ahead of U.S. economic figures set to show the world's largest economy continuing to grow solidly.
In Europe, the FTSE 100 index of leading British shares was down 11.42 points, or 0.2 percent, at 5,606.42 while France's CAC-40 index fell 13.08 points, or 0.3 percent, to 3,827.54. Germany's DAX was up 26.95 points, or 0.4 percent, at 6,171.86.
Once again, most attention in the markets remains on the Greek debt crisis — while most investors expect a bailout loan package to be agreed by this weekend, there have been so many shocks and delays in this crisis that they remain reluctant to get too euphoric.
"The situation remains tense with bonds and equities likely to whipsaw until a formal arrangement has been negotiated," said Jeremy Batstone-Carr, director of private client research at stockbrokers Charles Stanley.
Greece has to find euro8.5 billion to pay off debtors on May 19 and the way the bond markets are at the open — especially after Standard & Poor's downgraded the country's debt to junk status earlier this week — Greece is relying on getting the money from its 15 partners in the eurozone and the International Monetary Fund.
Mounting fears that Germany might hold up its share of the overall euro45 billion bailout package agreed earlier this month was the catalyst to this week's market turmoil.
The consensus in the markets now is that a much more extensive package will be offered to Greece than the original one-year euro45 billion deal agreed — that has helped to shore up confidence in the markets and Europe's main stock indexes have advanced while the euro has clambered off its recent lows.
Confirmation of a deal could well come over the long weekend — Europe's main markets are closed Monday for the May Day holiday.
Even if Greece gets the money, it has years of painful austerity ahead.
Greek Prime Minister George Papandreou said Friday that more needs to be done.
"There is still a long way to go before Greece's ails are healed," said Jane Foley, research director at Forex.com.
"Given that the already announced doses of austerity will ensure Greece remains in recession this year, there is no guarantee that Greece will be able to tolerate continued belt tightening over the next couple of years," said Foley.
For now though, hopes of an imminent agreement has helped ease the pressure on the euro, which earlier this week slid to a one-year low against the dollar — by late morning London time, the euro rose 0.5 percent to $1.3306.
Away from Greece, investors will have one major news release to digest this afternoon before wrapping up for the weekend — the first estimate of U.S. economic growth for the first quarter of 2010.
The consensus in the markets is that the U.S. economy grew at a 3.4 percent annual rate — that would mark the third straight quarterly gain as the United States heals from the longest recession since the 1930s.
Ahead of the data, Wall Street was poised for a solid opening after gains on Thursday, when stocks rallied after a series of upbeat earnings reports and a reading on unemployment that suggested layoffs might be slowing.
Analysts pointed out that a sharp deviation from the consensus could alter expectations for Wall Street's open.
Dow futures were up 9 points, or 0.1 percent, at 11,144 while the broader Standard & Poor's 500 futures rose 1.3 point, or 0.1 percent, at 1,206.60.
Earlier in Asia, Japan's Nikkei 225 stock average rose 132.61 points, or 1.2 percent, at 11,057.40, while Hong Kong's Oil prices rose, with benchmark crude for June delivery up 60 cents to $85.77 a barrel. The contract rose $1.95 to settle at $85.17 on Thursday.
StockSource.us
ABOUT US:
Stock Source is a full service investor relations firm dedicated to growth stocks. We seek out innovative, emerging companies poised for growth and tell their stories to qualified, aggressive investors looking for ground floor opportunities. We connect investors with investment prospects—cutting through the noise and churn of Wall Street to shine the spotlight on companies on their way up. These companies trade on the Nasdaq, Amex, OTCBB, and Pinksheets.
In Europe, the FTSE 100 index of leading British shares was down 11.42 points, or 0.2 percent, at 5,606.42 while France's CAC-40 index fell 13.08 points, or 0.3 percent, to 3,827.54. Germany's DAX was up 26.95 points, or 0.4 percent, at 6,171.86.
Once again, most attention in the markets remains on the Greek debt crisis — while most investors expect a bailout loan package to be agreed by this weekend, there have been so many shocks and delays in this crisis that they remain reluctant to get too euphoric.
"The situation remains tense with bonds and equities likely to whipsaw until a formal arrangement has been negotiated," said Jeremy Batstone-Carr, director of private client research at stockbrokers Charles Stanley.
Greece has to find euro8.5 billion to pay off debtors on May 19 and the way the bond markets are at the open — especially after Standard & Poor's downgraded the country's debt to junk status earlier this week — Greece is relying on getting the money from its 15 partners in the eurozone and the International Monetary Fund.
Mounting fears that Germany might hold up its share of the overall euro45 billion bailout package agreed earlier this month was the catalyst to this week's market turmoil.
The consensus in the markets now is that a much more extensive package will be offered to Greece than the original one-year euro45 billion deal agreed — that has helped to shore up confidence in the markets and Europe's main stock indexes have advanced while the euro has clambered off its recent lows.
Confirmation of a deal could well come over the long weekend — Europe's main markets are closed Monday for the May Day holiday.
Even if Greece gets the money, it has years of painful austerity ahead.
Greek Prime Minister George Papandreou said Friday that more needs to be done.
"There is still a long way to go before Greece's ails are healed," said Jane Foley, research director at Forex.com.
"Given that the already announced doses of austerity will ensure Greece remains in recession this year, there is no guarantee that Greece will be able to tolerate continued belt tightening over the next couple of years," said Foley.
For now though, hopes of an imminent agreement has helped ease the pressure on the euro, which earlier this week slid to a one-year low against the dollar — by late morning London time, the euro rose 0.5 percent to $1.3306.
Away from Greece, investors will have one major news release to digest this afternoon before wrapping up for the weekend — the first estimate of U.S. economic growth for the first quarter of 2010.
The consensus in the markets is that the U.S. economy grew at a 3.4 percent annual rate — that would mark the third straight quarterly gain as the United States heals from the longest recession since the 1930s.
Ahead of the data, Wall Street was poised for a solid opening after gains on Thursday, when stocks rallied after a series of upbeat earnings reports and a reading on unemployment that suggested layoffs might be slowing.
Analysts pointed out that a sharp deviation from the consensus could alter expectations for Wall Street's open.
Dow futures were up 9 points, or 0.1 percent, at 11,144 while the broader Standard & Poor's 500 futures rose 1.3 point, or 0.1 percent, at 1,206.60.
Earlier in Asia, Japan's Nikkei 225 stock average rose 132.61 points, or 1.2 percent, at 11,057.40, while Hong Kong's Oil prices rose, with benchmark crude for June delivery up 60 cents to $85.77 a barrel. The contract rose $1.95 to settle at $85.17 on Thursday.
StockSource.us
ABOUT US:
Stock Source is a full service investor relations firm dedicated to growth stocks. We seek out innovative, emerging companies poised for growth and tell their stories to qualified, aggressive investors looking for ground floor opportunities. We connect investors with investment prospects—cutting through the noise and churn of Wall Street to shine the spotlight on companies on their way up. These companies trade on the Nasdaq, Amex, OTCBB, and Pinksheets.
Friday, 5 March 2010
Asian shares surge on U.S. data, euro slips
(Reuters) - Asian shares surged on Friday after encouraging retail sales and jobs data from the United States suggested Asia's biggest export market was stabilizing, while the euro fell on worries about heavily indebted Greece.
Japan's benchmark Nikkei average .N225 was up 2.07 percent at 10,355.63 at 0230 GMT (9:30 p.m. EST), while the broader Topix gained 1.53 percent to 911.34.
The MSCI index of Asian shares outside Japan .MIAPJ0000PUS was up 0.77 percent at 405.86.
Also boosting share sentiment in Tokyo, the Nikkei newspaper said that the Bank of Japan was examining a further easing of its already ultra-loose monetary policy and may make a decision on such a move as early as this month.
"In addition to a solid performance from the U.S. stocks, investors are welcoming a halt in the yen's advance against the dollar after a media report that the BOJ is considering additional easing measures," said Mitsuo Shimizu, deputy general manager at Cosmo Securities.
The dollar index .DXY rose to 80.58, with near-term resistance seen around 81.30, this week's high. The dollar also rose against the yen, inching up to 89.15 yen from around 89.07 yen late on Thursday in New York.
"If dollar/yen climbs back above 90 yen," Shimizu said, "the Nikkei could break out of range-bound trade, with the next target likely being around 10,500."
U.S. stocks rose on Thursday on the stronger-than-expected retail sales and a fall in first-time jobless claims. The Dow Jones industrial average .DJI closed up 47.38 points, or 0.46 percent, at 10,444.14.
February's monthly sales performance among U.S. retailers was the strongest since just before the recession started in 2007. The United States reported that first-time claims for jobless benefits fell by 29,000 to a seasonally adjusted 469,000 in the latest week.
On Friday, it releases its comprehensive monthly report on non-farm payrolls, the most closely watched figures on the U.S. labor market.
The report is expected to show a loss of 50,000 jobs in February, compared with 20,000 job cuts in January, a Reuters poll shows.
In the commodities markets, spot gold was at $1,132.40, down slightly from New York's close and it is expected to trade in a tight range ahead of the U.S. payrolls data due at 1330 GMT.
U.S. NYMEX crude was up 39 cents at $80.66 a barrel.
A short squeeze in the euro appeared to have run its course, with investors once again fretting about Greece.
Traders said the market was likely to stay cautious, steering clear of higher-yielding currencies, ahead of the U.S. jobs data.
"Greece worries continue and with investors still cautious about risk, I would have a bias toward the U.S. dollar ahead of the payrolls data," said Jonathan Cavenagh, currency strategist at Westpac.
The euro was down at $1.3572 from $1.3589 late in New York on Thursday when it lost 0.8 percent. It had risen above $1.37 following a robust response to a Greek debt auction on Thursday.
But if fell after the chief of the European Central Bank (ECB), Jean-Claude Trichet, said recovery in Europe would be uneven, squashing any outside chances of a near-term rise in record low euro zone interest rates.
The ECB, as expected, kept rates unchanged on Thursday, but took a small step in unwinding some its extraordinary support for the economy.
Investors also fretted whether Greece's fresh plans to address its debt woes would win wider support in the European Union ahead of a meeting of German Chancellor Angela Merkel with the Greek prime minister later on Friday.
The single currency has lost nearly 10 percent since November last year when sovereign debt problems surrounding Greece and other peripheral euro zone economies emerged.
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