London Stock market forecast week september 12 2011 : Trading on the London Stock Exchange is likely to be driven next week by the fate of British banks as final recommendations are due on a shake-up to avoid further state bailouts of lenders.
The FTSE ended this past week down 1.46 per cent amid further global growth concerns and the shock resignation of the European Central Bank's chief economist, Juergen Stark.
As the week kicks off, investors will have their first chance to react to any developments from the two-day meeting of G7 finance ministers that ends on Saturday, although no major announcements were expected.
Investors will also be looking on Monday to the final recommendations by the Independent Commission on Banking, which is expected to confirm its initial proposals, published in April, that called for a "ring-fencing" of lenders' retail businesses, thus avoiding banks being sunk by investment division losses.
It is also likely to repeat calls for banks to set aside more capital to prevent future state bailouts and could again recommend that state-rescued Lloyds Banking Group sells more assets to boost competition.
However following intense lobbying by major British banks such as HSBC and Barclays, reports suggest reforms may not occur until after the country's next general election in 2015.
Bank stocks, which have been mauled in the past weeks, risk a further battering if the costs of reorganisation and increasing capital are seen as being too heavy.
If the general lines of the reform are well known, the particulars and calendar of its implementation could still swing the market.
Several data releases are also on the calendar. Foreign trade and August inflation readings are due out on Tuesday. August unemployment is to be released on Wednesday and retail sales figures on Thursday.
Kesa Electricals is to present its first quarter results on Thursday. Kingfisher, Europe's biggest home-improvements retailer, is also to release results on Thursday.
uk stock market predictions september 12 2011, London Stock Exchange trading outlook for week september 12 2011, analyst uk market september 12 2011, British banks stock forecast september 12 2011. FTSE stock forecast sept 12 2011.
Showing posts with label uk stock market. Show all posts
Showing posts with label uk stock market. Show all posts
Friday, September 9, 2011
Wednesday, September 7, 2011
stock market forecast september 2011
stock market forecast september 2011, european market forecast september 2011 : European debt concerns sent stocks down for the third-straight day after investors returned from a long weekend. The benchmarks suffered their worst three-day start this month since October 2008. This was also the S&P 500’s worst start in September in five decades. However, an encouraging report on the services sector soothed nerves somewhat and partially eroded the losses.
Lingering concerns about the euro-zone debt crisis resurfaced to spook investors, while European shares dipped to their lowest finish in two years. Fears of the debt crisis spreading to Europe’s third largest economy, Italy, continued to gain strength, amidst debates in the nation’s parliament over austerity measures. Last month the European Central bank (ECB) had inflated its bond-buying program to include Spanish and Italian bonds, However, analysts opine that this would fail to suffice in the long run and believe that Europe might be heading into troubled times.
Euro-zone debt concerns have been a constant laggard for US benchmarks since late last year when Ireland was afflicted by the debt crisis. Spain, Portugal and Greece have been added to that list and Italy seems to be headed in the same direction. In July, the European Union had stepped in to announce a bailout package for Greece, but there seems to be no respite from lingering concerns. Global economic outlook had further weighed down investor sentiment and European markets had deteriorated also in August. Read More...
Global economic outlook september 2011, asian market september 2011, japan stock market september 2011, European Central bank (ECB) 2011, indian market prediction september 2011, euro-zone debt crisis.
Lingering concerns about the euro-zone debt crisis resurfaced to spook investors, while European shares dipped to their lowest finish in two years. Fears of the debt crisis spreading to Europe’s third largest economy, Italy, continued to gain strength, amidst debates in the nation’s parliament over austerity measures. Last month the European Central bank (ECB) had inflated its bond-buying program to include Spanish and Italian bonds, However, analysts opine that this would fail to suffice in the long run and believe that Europe might be heading into troubled times.
Euro-zone debt concerns have been a constant laggard for US benchmarks since late last year when Ireland was afflicted by the debt crisis. Spain, Portugal and Greece have been added to that list and Italy seems to be headed in the same direction. In July, the European Union had stepped in to announce a bailout package for Greece, but there seems to be no respite from lingering concerns. Global economic outlook had further weighed down investor sentiment and European markets had deteriorated also in August. Read More...
Global economic outlook september 2011, asian market september 2011, japan stock market september 2011, European Central bank (ECB) 2011, indian market prediction september 2011, euro-zone debt crisis.
Monday, September 5, 2011
Why stocks market down september 5 2011
Why stocks market down september 5 2011 ; World stock markets took a beating Monday after US companies stopped hiring in August, reviving fears that the world's largest economy is heading back into recession.
Oil prices extended losses to below $86 a barrel as the dismal jobs data released Friday suggested that a weak US economy will lessen demand for crude. The dollar was higher against the euro and steady against the yen.
European shares sharply declined in early trading. Britain's FTSE 100 dropped 1.6 per cent to 5,206.56. Germany's DAX fell 2.7 per cent to 5,391.24 and France's CAC-40 toppled 2.4 per cent to 3,074.47. Markets in the US are closed for the Labor Day holiday.
Earlier in Asia, Japan's Nikkei 225 stock average sank 1.9 per cent to close at 8,784.46 with sentiment also undermined by the persistent strength of the yen, which hurts exporters.
Australia's S&P/ASX 200 fell 2.4 per cent to 4,141.9 and South Korea's Kospi slid 4.4 per cent to 1,785.83. Hong Kong's Hang Seng slid 3 per cent to 19,616.4. Benchmarks in Singapore, Taiwan, New Zealand and the Philippines were also down.
Investors were sticking to the sidelines as expectations mounted that the US Federal Reserve would take action at its September meeting to support the economy _ perhaps a third round of bond purchases, dubbed quantitative easing III or QE3, analysts said.
``Right now the possibility has increased,'' said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. ``I think they have to do something. The markets are expecting QE3.''
Mainland Chinese investors worried about the economic outlook dumped shares, dragging Shanghai's benchmark Composite Index down 2 per cent to 2,478.74, its lowest close in 13 months. The Shenzhen Composite Index lost 2.4 per cent to 1,097.07.
Shares in cement, coal miners, furniture makers and engineering companies led the decline.
``Slower growth prospects and the weakness in international markets were behind today's losses,'' said Cai Dagui, an analyst at Ping'an Securities, based in Shenzhen.
``Since the market is being driven more by the economy itself and policies, rather than the liquidity situation, it could still edge lower, though the room for losses is limited,'' he said.
The Dow Jones industrial average closed 2.2 per cent lower Friday, wiping out its gain for the week, on the heels of the Labor Department reported that no jobs were added in the US in August. It was the worst employment report in 11 months and renewed fears that another recession could be on the way.
The lack of hiring in the US last month surprised investors. Economists were expecting 93,000 jobs to be added. Previously reported hiring figures for June and July were revised lower. The average work week declined and hourly earnings fell. The unemployment rate held steady at 9.1 per cent. The rate has been above 9 per cent in all but two months since May 2009.
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Oil prices extended losses to below $86 a barrel as the dismal jobs data released Friday suggested that a weak US economy will lessen demand for crude. The dollar was higher against the euro and steady against the yen.
European shares sharply declined in early trading. Britain's FTSE 100 dropped 1.6 per cent to 5,206.56. Germany's DAX fell 2.7 per cent to 5,391.24 and France's CAC-40 toppled 2.4 per cent to 3,074.47. Markets in the US are closed for the Labor Day holiday.
Earlier in Asia, Japan's Nikkei 225 stock average sank 1.9 per cent to close at 8,784.46 with sentiment also undermined by the persistent strength of the yen, which hurts exporters.
Australia's S&P/ASX 200 fell 2.4 per cent to 4,141.9 and South Korea's Kospi slid 4.4 per cent to 1,785.83. Hong Kong's Hang Seng slid 3 per cent to 19,616.4. Benchmarks in Singapore, Taiwan, New Zealand and the Philippines were also down.
Investors were sticking to the sidelines as expectations mounted that the US Federal Reserve would take action at its September meeting to support the economy _ perhaps a third round of bond purchases, dubbed quantitative easing III or QE3, analysts said.
``Right now the possibility has increased,'' said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. ``I think they have to do something. The markets are expecting QE3.''
Mainland Chinese investors worried about the economic outlook dumped shares, dragging Shanghai's benchmark Composite Index down 2 per cent to 2,478.74, its lowest close in 13 months. The Shenzhen Composite Index lost 2.4 per cent to 1,097.07.
Shares in cement, coal miners, furniture makers and engineering companies led the decline.
``Slower growth prospects and the weakness in international markets were behind today's losses,'' said Cai Dagui, an analyst at Ping'an Securities, based in Shenzhen.
``Since the market is being driven more by the economy itself and policies, rather than the liquidity situation, it could still edge lower, though the room for losses is limited,'' he said.
The Dow Jones industrial average closed 2.2 per cent lower Friday, wiping out its gain for the week, on the heels of the Labor Department reported that no jobs were added in the US in August. It was the worst employment report in 11 months and renewed fears that another recession could be on the way.
The lack of hiring in the US last month surprised investors. Economists were expecting 93,000 jobs to be added. Previously reported hiring figures for June and July were revised lower. The average work week declined and hourly earnings fell. The unemployment rate held steady at 9.1 per cent. The rate has been above 9 per cent in all but two months since May 2009.
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Saturday, September 3, 2011
Stock market forecast september 5 2011
Stock market forecast september 5 2011 : Stocks fall after the government says there was no job growth in August; unemployment remains at 9.1%. The 10-year Treasury yield falls below 2%. Gold jumps; oil slips. Markets will close for Labor Day.
A terrible, no-good, awful jobs report set off an ugly sell-off in U.S. stocks today after the government said the economy added no jobs at all in August. The national unemployment rate was unchanged at 9.1%.
The major averages fell more than 2.2% each, and the Dow Jones industrials ($INDU) and the Standard & Poor's 500 Index ($INX) ended slightly lower on the week.
The Dow closed down 253 points, or 2.2% to 11,240. The S&P 500 was off 30 points, or 2.5% to 1,174. The Nasdaq Composite Index ($COMPX) tumbled 66 points, or 2.6%, to 2,480.
Market Outlook: First off, we would note that the US Labor Day holiday follows on Monday, so we would expect market action to subside following the London/European close, meaning lower liquidity/higher volatility may be evident after noon EDT. With that in mind, we would also note US monthly jobs reports are known for heightened short-term volatility immediately following their release and we expect tomorrow’s to be no exception.
Complicating matters this time around are heightened expectations that the Fed may introduce additional easing measures at its Sept. 20-21 meeting. That decision will depend on the state of incoming data before then, and we think this gives greater weight to Friday’s jobs data than normal.
The payroll number was well below the consensus of a gain of 60,000 to 65,000 jobs. It was the first time in 11 months that the economy didn't produce at least some job gains. The report increases the stakes for President Obama, due to offer a jobs plan in a speech to Congress next week. It also suggests the Federal Reserve will make some moves at its September meeting to try to nurse the economy along.
Stock outlook sept 5 2011, Stock market prediction september 5 2011, Stock market oulook september 5 2011,
A terrible, no-good, awful jobs report set off an ugly sell-off in U.S. stocks today after the government said the economy added no jobs at all in August. The national unemployment rate was unchanged at 9.1%.
The major averages fell more than 2.2% each, and the Dow Jones industrials ($INDU) and the Standard & Poor's 500 Index ($INX) ended slightly lower on the week.
The Dow closed down 253 points, or 2.2% to 11,240. The S&P 500 was off 30 points, or 2.5% to 1,174. The Nasdaq Composite Index ($COMPX) tumbled 66 points, or 2.6%, to 2,480.
Market Outlook: First off, we would note that the US Labor Day holiday follows on Monday, so we would expect market action to subside following the London/European close, meaning lower liquidity/higher volatility may be evident after noon EDT. With that in mind, we would also note US monthly jobs reports are known for heightened short-term volatility immediately following their release and we expect tomorrow’s to be no exception.
Complicating matters this time around are heightened expectations that the Fed may introduce additional easing measures at its Sept. 20-21 meeting. That decision will depend on the state of incoming data before then, and we think this gives greater weight to Friday’s jobs data than normal.
The payroll number was well below the consensus of a gain of 60,000 to 65,000 jobs. It was the first time in 11 months that the economy didn't produce at least some job gains. The report increases the stakes for President Obama, due to offer a jobs plan in a speech to Congress next week. It also suggests the Federal Reserve will make some moves at its September meeting to try to nurse the economy along.
Stock outlook sept 5 2011, Stock market prediction september 5 2011, Stock market oulook september 5 2011,
Sunday, August 28, 2011
stock market crash september 2011
stock market crash september 2011 : Markets around the world plunged so dramatically after topping out at the end of April (the S&P 500 down 18%), that they became very oversold short-term, a condition that usually results in at least a short-term rally off the oversold condition, a so-called relief rally.
And sure enough a relief rally did get underway last week. Its beginning was impressive. The Dow gained 673 points, or 6.2% in just three days.
But it immediately stumbled and has plunged sharply, giving back most of the gain in the following three days, keeping alive the pattern of extreme volatility of the last few months.
It may be just continued volatility, with the next few days being back to the upside. The main support for that thought is that the three-day rally was not enough to alleviate the oversold condition.
However, it’s just as possible that the expected short-term rally off the oversold condition has already ended.
In spite of the spike-up of its first three days, it has not been an impressive rally attempt. Daily trading volume on the NYSE, which had been as high as 2.5 billion shares during the market’s decline from its April 29 peak, dried up to fewer than 1.0 billion shares on the up-days. That’s an indication large institutional investors were not believing in the rally and not much should be expected from it.
And that’s understandable given the additional evidence this week that the economic soft-spot of the first half of the year, which was supposedly temporary, is continuing in the second half. That’s particularly worrisome since the economic soft-spot of the first half was much worse than previously thought.
GDP growth, previously reported as having been around 2% in the first half, was recently revised to being up only 0.8%.
The strong growth that was supposed to return in July to begin the second half did not show up. In fact, consumer and business confidence deteriorated further in July, accompanied by unexpected further declines in both the manufacturing and services sectors.
Now evidence is piling up that the deterioration is continuing in August.
This week’s reports included that the Fed’s Empire State (NY) Mfg Index not only remained negative in August but deteriorated further to –7.7 from -3.8 in July. Within the report, the New Orders Index fell further to negative -7.8 in August, not encouraging for business over the next couple of months. To the extent that the New York Index often is a precursor for the national ISM index, it was not a good report. The NAHB reported its Housing Market Index, which measures the confidence of the nation’s home-builders, remained unchanged in August, still mired in the pits at just 15 (on a scale of 1 to 100).
There were also signs that inflation, which has been a big problem in Asia and South America is now washing ashore in the U.S. and Europe.
In the U.S. it was reported that the Producer Price Index was up 0.2% in July, and the core rate up 0.4%, and the Consumer Price Index was up 0.5% in July, after an encouraging decline in June.
In Europe it was reported this week that the economy in the 17-nation euro-zone slowed to just 0.2% in the 2nd quarter, barely above negative growth (recession). And inflation in the U.K., which is not a member of the European Union, accelerated to a 4.4% annualized rate in July, more than double the U.K. central bank’s inflation target rate of 2%.
Another major problem for markets, the European debt crisis had supposedly been kicked further down the road. But it has come rolling back. The international bailout of Greece ran into trouble Thursday when at least five euro-zone countries demanded that the Greek government provide them with cash as collateral for their contributions to the $157 billion bailout.
As I said in last week’s column, the oversold rally is likely to be a last opportunity for investors to take some risk off the table by selling into the strength, since although the short-term oversold condition made a short-term rally likely, the correction is likely to resume to lower lows when it ends. (source contraryinvesting.com )
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And sure enough a relief rally did get underway last week. Its beginning was impressive. The Dow gained 673 points, or 6.2% in just three days.
But it immediately stumbled and has plunged sharply, giving back most of the gain in the following three days, keeping alive the pattern of extreme volatility of the last few months.
It may be just continued volatility, with the next few days being back to the upside. The main support for that thought is that the three-day rally was not enough to alleviate the oversold condition.
However, it’s just as possible that the expected short-term rally off the oversold condition has already ended.
In spite of the spike-up of its first three days, it has not been an impressive rally attempt. Daily trading volume on the NYSE, which had been as high as 2.5 billion shares during the market’s decline from its April 29 peak, dried up to fewer than 1.0 billion shares on the up-days. That’s an indication large institutional investors were not believing in the rally and not much should be expected from it.
And that’s understandable given the additional evidence this week that the economic soft-spot of the first half of the year, which was supposedly temporary, is continuing in the second half. That’s particularly worrisome since the economic soft-spot of the first half was much worse than previously thought.
GDP growth, previously reported as having been around 2% in the first half, was recently revised to being up only 0.8%.
The strong growth that was supposed to return in July to begin the second half did not show up. In fact, consumer and business confidence deteriorated further in July, accompanied by unexpected further declines in both the manufacturing and services sectors.
Now evidence is piling up that the deterioration is continuing in August.
This week’s reports included that the Fed’s Empire State (NY) Mfg Index not only remained negative in August but deteriorated further to –7.7 from -3.8 in July. Within the report, the New Orders Index fell further to negative -7.8 in August, not encouraging for business over the next couple of months. To the extent that the New York Index often is a precursor for the national ISM index, it was not a good report. The NAHB reported its Housing Market Index, which measures the confidence of the nation’s home-builders, remained unchanged in August, still mired in the pits at just 15 (on a scale of 1 to 100).
There were also signs that inflation, which has been a big problem in Asia and South America is now washing ashore in the U.S. and Europe.
In the U.S. it was reported that the Producer Price Index was up 0.2% in July, and the core rate up 0.4%, and the Consumer Price Index was up 0.5% in July, after an encouraging decline in June.
In Europe it was reported this week that the economy in the 17-nation euro-zone slowed to just 0.2% in the 2nd quarter, barely above negative growth (recession). And inflation in the U.K., which is not a member of the European Union, accelerated to a 4.4% annualized rate in July, more than double the U.K. central bank’s inflation target rate of 2%.
Another major problem for markets, the European debt crisis had supposedly been kicked further down the road. But it has come rolling back. The international bailout of Greece ran into trouble Thursday when at least five euro-zone countries demanded that the Greek government provide them with cash as collateral for their contributions to the $157 billion bailout.
As I said in last week’s column, the oversold rally is likely to be a last opportunity for investors to take some risk off the table by selling into the strength, since although the short-term oversold condition made a short-term rally likely, the correction is likely to resume to lower lows when it ends. (source contraryinvesting.com )
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how will stock market on september 2011
how will stock market on september 2011 ; The equity market reversed last week’s loses with equally impressive gains this week. After hitting a low on monday (SPX 1121) the market surged to 1191 early thursday, and then got struck by a selloff in Germany and concern about FED chairman Bernanke’s Jackson Hole speech. Then after hitting SPX 1136 the market rallied into the friday close.
Economic reports were sparse and generally negative. Improving, were durable goods orders, FHFA housing prices and consumer sentiment. On the downtick, were new homes sales, Q2 GDP, the monetary base, the WLEI and weekly jobless claims rose. For the week the SPX/DOW gained 4.5%, and the NDX/NAZ gained 6.0%. Asian markets gained 1.1%, European markets gained 1.9%, the Commodity equity group gained 1.9%, and the DJ World index rose 2.5%. Next week we have an abundance of economic reports: ISM, the Chicago PMI, PCE prices, the Case-Shiller index, and the Payrolls report on friday.
Stock Market Crash Coming for Stocks by September 2011
The good news, for those long, is Dent predicts the Dow will trade as high as 13,200 by mid-summer and the S&P 500 as high as 1430, or more-than 7% above current levels. The bad news is then we could see another “Major Crash“, Dent says, forecasting the Dow could trade as low as 3300 in a worst-case scenario. “Bubbles go back to where they started or a little lower,” he says. “The stock market bubble started at (Dow) 3800 in late 1994.Read More...
Market Forecast for September 2011 - Limited Enrollment
I am offering my market forecast newsletter for September 2011 for 99 cents. You will receive my newsletter which will give you the start date, end date and direction of upcoming market trends for the S&P 500 Index. These trends last from a few days to a few weeks. You will also secure your place for my future market forecasts. Read More...
Predictions from the world's best stock market experts
The FTSE 100 endured a torrid week in early August, losing 10 per cent. Massive volatility followed with the FTSE 100 dipping below 5000 points. It hit a low of 4944. It bounced then had a repeat on 18 August dropping 4.5% - and as low as 4935 the following day.Read More...
Stock Market Crash September 2011
Markets around the world plunged so dramatically after topping out at the end of April (the S&P 500 down 18%), that they became very oversold short-term, a condition that usually results in at least a short-term rally off the oversold condition, a so-called relief rally. Read More...
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Economic reports were sparse and generally negative. Improving, were durable goods orders, FHFA housing prices and consumer sentiment. On the downtick, were new homes sales, Q2 GDP, the monetary base, the WLEI and weekly jobless claims rose. For the week the SPX/DOW gained 4.5%, and the NDX/NAZ gained 6.0%. Asian markets gained 1.1%, European markets gained 1.9%, the Commodity equity group gained 1.9%, and the DJ World index rose 2.5%. Next week we have an abundance of economic reports: ISM, the Chicago PMI, PCE prices, the Case-Shiller index, and the Payrolls report on friday.
Stock Market Crash Coming for Stocks by September 2011
The good news, for those long, is Dent predicts the Dow will trade as high as 13,200 by mid-summer and the S&P 500 as high as 1430, or more-than 7% above current levels. The bad news is then we could see another “Major Crash“, Dent says, forecasting the Dow could trade as low as 3300 in a worst-case scenario. “Bubbles go back to where they started or a little lower,” he says. “The stock market bubble started at (Dow) 3800 in late 1994.Read More...
Market Forecast for September 2011 - Limited Enrollment
I am offering my market forecast newsletter for September 2011 for 99 cents. You will receive my newsletter which will give you the start date, end date and direction of upcoming market trends for the S&P 500 Index. These trends last from a few days to a few weeks. You will also secure your place for my future market forecasts. Read More...
Predictions from the world's best stock market experts
The FTSE 100 endured a torrid week in early August, losing 10 per cent. Massive volatility followed with the FTSE 100 dipping below 5000 points. It hit a low of 4944. It bounced then had a repeat on 18 August dropping 4.5% - and as low as 4935 the following day.Read More...
Stock Market Crash September 2011
Markets around the world plunged so dramatically after topping out at the end of April (the S&P 500 down 18%), that they became very oversold short-term, a condition that usually results in at least a short-term rally off the oversold condition, a so-called relief rally. Read More...
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Friday, August 26, 2011
stock market outlook week august 29 2011
stock market outlook week august 29 2011 : The Federal Reserve chairman, Ben S. Bernanke, said Friday that the economy was recovering and the nation’s long-term prospects remained strong, an upbeat assessment that offered little indication of any plans for additional measures to bolster short-term growth.
Mr. Bernanke’s much-anticipated remarks follow the Fed’s announcement earlier this month that it intended to hold short-term interest rates near zero until at least the middle of 2013, a reflection of its view that growth will not be fast enough during that period to drive up wages and prices.
Mr. Bernanke was careful to note that the nation faces significant challenges, including high unemployment and an unsustainable federal debt. But the speech, delivered at a policy conference held each August in Grand Teton National Park, marked a return to the Fed’s position earlier this year that the Fed has done most of what it can, and that the rest of the government must do more.
Mr. Bernanke’s much-anticipated remarks follow the Fed’s announcement earlier this month that it intended to hold short-term interest rates near zero until at least the middle of 2013, a reflection of its view that growth will not be fast enough during that period to drive up wages and prices.
Mr. Bernanke was careful to note that the nation faces significant challenges, including high unemployment and an unsustainable federal debt. But the speech, delivered at a policy conference held each August in Grand Teton National Park, marked a return to the Fed’s position earlier this year that the Fed has done most of what it can, and that the rest of the government must do more.
Thursday, August 25, 2011
Stock market down august 25 2011
Stock market down august 25 2011, why Stock market down august 25 2011, Stocks retreated as panic selling pushed Germany’s DAX Index down 4 percent in 15 minutes amid concern regulators may impose restrictions on short selling. The dollar and Treasuries advanced, while oil fell and Bank of America Corp. shares surged.
The Standard & Poor’s 500 Index dropped 1 percent at 11:53 a.m. in New York. The Stoxx Europe 600 Index lost 1.2 percent after rising as much as 1.1 percent. The DAX retreated 1.7 percent as of the close of trading in Frankfurt. The Dollar Index jumped 0.3 percent. Treasuries rose, driving yields on 10- year notes down six seven points to 2.23 percent. Crude futures slumped 0.8 percent.
Investors speculated that Germany would impose a short- selling ban, said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management Inc. in Chicago. Germany’s Finance Ministry said the speculation was incorrect. Traders may also be using Germany equities as a hedge before France, Italy and Spain decide whether to expand a ban on the practice, said Miller Tabak & Co.’s Peter Boockvar.
“All eyes are of course on the German stock market selloff,” New York-based Boockvar wrote in an e-mail. “It seemed to come out of nowhere.”
When U.S. exchanges opened, the S&P 500 advanced as much as 1.1 percent after Warren Buffett’s Berkshire Hathaway Inc. agreed to invest $5 billion in Bank of America, which had plunged 53 percent in 2011. The stock rallied 12 percent. At the same time, Nasdaq-100 Index futures erased losses that had been driven by Steve Jobs resigning as Apple Inc.’s chief executive officer. Apple shares lost 1.1 percent.
***Economic Data***
- (BR) Brazil Aug FGV Consumer Confidence: 118.7 v 124.4 prior
- (TU) Turkey Aug Industrial Confidence: 109.8 v 114.1 prior; Capacity Utilization: 76.1% v 74.7%e
- (BR) Brazil July Unemployment Rate: 6.0% v 6.2%e
- (US) Initial Jobless Claims: 417K v 405Ke; Continuing Claims: 3.641M v 3.70Me
- (MX) Mexico Q2 GDP (current $) Y/Y: 8.9% v 7.7%e
- (MX) Mexico July Unemployment Rate: 5.6% v 6.0%e
- (MX) Mexico Q2 Current Account: -$ v -$305Me
- (US) Weekly EIA Natural Gas Inventories: +73 bcf v +70 bcf to +75 bcf expected range
The Standard & Poor’s 500 Index dropped 1 percent at 11:53 a.m. in New York. The Stoxx Europe 600 Index lost 1.2 percent after rising as much as 1.1 percent. The DAX retreated 1.7 percent as of the close of trading in Frankfurt. The Dollar Index jumped 0.3 percent. Treasuries rose, driving yields on 10- year notes down six seven points to 2.23 percent. Crude futures slumped 0.8 percent.
Investors speculated that Germany would impose a short- selling ban, said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management Inc. in Chicago. Germany’s Finance Ministry said the speculation was incorrect. Traders may also be using Germany equities as a hedge before France, Italy and Spain decide whether to expand a ban on the practice, said Miller Tabak & Co.’s Peter Boockvar.
“All eyes are of course on the German stock market selloff,” New York-based Boockvar wrote in an e-mail. “It seemed to come out of nowhere.”
When U.S. exchanges opened, the S&P 500 advanced as much as 1.1 percent after Warren Buffett’s Berkshire Hathaway Inc. agreed to invest $5 billion in Bank of America, which had plunged 53 percent in 2011. The stock rallied 12 percent. At the same time, Nasdaq-100 Index futures erased losses that had been driven by Steve Jobs resigning as Apple Inc.’s chief executive officer. Apple shares lost 1.1 percent.
***Economic Data***
- (BR) Brazil Aug FGV Consumer Confidence: 118.7 v 124.4 prior
- (TU) Turkey Aug Industrial Confidence: 109.8 v 114.1 prior; Capacity Utilization: 76.1% v 74.7%e
- (BR) Brazil July Unemployment Rate: 6.0% v 6.2%e
- (US) Initial Jobless Claims: 417K v 405Ke; Continuing Claims: 3.641M v 3.70Me
- (MX) Mexico Q2 GDP (current $) Y/Y: 8.9% v 7.7%e
- (MX) Mexico July Unemployment Rate: 5.6% v 6.0%e
- (MX) Mexico Q2 Current Account: -$ v -$305Me
- (US) Weekly EIA Natural Gas Inventories: +73 bcf v +70 bcf to +75 bcf expected range
Tuesday, August 23, 2011
impact earthquake that struck Virginia on stock market
impact earthquake that struck Virginia on stock market, Gold prices august 24 2011 : GOLD set fresh lows for the day as the US stockmarket rallied, worrying gold traders, in the aftermath of an earthquake that struck Virginia. The magnitude-5.9 earthquake sent tremors up the East Coast, through Washington and up to New York.
Gold futures were recently down $US51.30, or 2.7 per cent, at $US1840.60 a troy ounce after touching a low of $US1833.00. "The stockmarket seems to be showing unusual stability even after an earthquake," said George Gero, vice-president with RBC Capital Markets Global Futures.
Gold traders are worried that a more stable equities market will give money managers the confidence to trim their gold holdings and invest more aggressively in stocks, which have been pummelled by sharp declines earlier this month.
Earlier in New York floor trading, gold futures snapped a six-day winning streak as some investors chose to collect the profits on their gold holdings as stronger equities tarnished gold's appeal.
Gold futures were recently down $US51.30, or 2.7 per cent, at $US1840.60 a troy ounce after touching a low of $US1833.00. "The stockmarket seems to be showing unusual stability even after an earthquake," said George Gero, vice-president with RBC Capital Markets Global Futures.
Gold traders are worried that a more stable equities market will give money managers the confidence to trim their gold holdings and invest more aggressively in stocks, which have been pummelled by sharp declines earlier this month.
Earlier in New York floor trading, gold futures snapped a six-day winning streak as some investors chose to collect the profits on their gold holdings as stronger equities tarnished gold's appeal.
Thursday, August 18, 2011
stock market predictions august 22 august 2011
stock market predictions august 22 august 2011 - stock market oulook 22/8/2011, stock market forecast for week august 22 2011 : U.S. stocks tumbled amid growing concern the economy is slowing and speculation that European banks lack enough capital, while hopes for more stimulus from the Federal Reserve receded.
Economic growth is weak around the world, and some economists worry that a second recession may be coming. Later Thursday, investors will turn their attention to the U.S. Labor Department, which will release weekly claims for unemployment benefits. High unemployment is a major reason why growth in the U.S. has stalled and jobs data is carefully monitored for any changes.
Investors also have worries about Europe. Some countries have borrowed so much that they may not be able to repay their bonds, and economic growth there has slowed. Concerns about a possible default by a European country have dominated the market in recent weeks.
European shares opened lower after an initiative unveiled in Paris on Wednesday august 17 2011, to improve Europe’s fiscal picture failed to assuage fears that the continent’s debt crisis was headed to a blowup.
Britain’s FTSE 100 lost 1.1 percent to 5,273.42 and Germany’s DAX fell 1.5 percent to 5,852.32. France’s CAC-40 was down 1.5 percent at 3,206.60. Ahead of the opening bell on Wall Street, Dow Jones industrial futures were down 1 percent to 11,264 and S&P 500 futures slipped 1.2 percent to 1,175.20.
Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) dropped more than 4.6 percent as Sweden’s financial regulator said his country’s lenders must do more to prepare for a worsening in Europe’s debt crisis that could cut off funding. Caterpillar Inc. (CAT) sank 5.6 percent, pacing losses in companies most-tied to economic growth, as jobless claims rose, consumer inflation accelerated more than forecast and the Philadelphia-area manufacturing index fell to the lowest level since March 2009.
The Standard & Poor’s 500 Index slumped 4.1 percent to 1,145.07 at 10:29 a.m. in New York. All 10 groups in the S&P 500 dropped at least 1.8 percent. The Dow Jones Industrial Average fell 438.62 points, or 3.8 percent, to 10,971.59. Treasuries rallied, pushing 10-year yields to a record low.
Economic growth is weak around the world, and some economists worry that a second recession may be coming. Later Thursday, investors will turn their attention to the U.S. Labor Department, which will release weekly claims for unemployment benefits. High unemployment is a major reason why growth in the U.S. has stalled and jobs data is carefully monitored for any changes.
Investors also have worries about Europe. Some countries have borrowed so much that they may not be able to repay their bonds, and economic growth there has slowed. Concerns about a possible default by a European country have dominated the market in recent weeks.
European shares opened lower after an initiative unveiled in Paris on Wednesday august 17 2011, to improve Europe’s fiscal picture failed to assuage fears that the continent’s debt crisis was headed to a blowup.
Britain’s FTSE 100 lost 1.1 percent to 5,273.42 and Germany’s DAX fell 1.5 percent to 5,852.32. France’s CAC-40 was down 1.5 percent at 3,206.60. Ahead of the opening bell on Wall Street, Dow Jones industrial futures were down 1 percent to 11,264 and S&P 500 futures slipped 1.2 percent to 1,175.20.
Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) dropped more than 4.6 percent as Sweden’s financial regulator said his country’s lenders must do more to prepare for a worsening in Europe’s debt crisis that could cut off funding. Caterpillar Inc. (CAT) sank 5.6 percent, pacing losses in companies most-tied to economic growth, as jobless claims rose, consumer inflation accelerated more than forecast and the Philadelphia-area manufacturing index fell to the lowest level since March 2009.
The Standard & Poor’s 500 Index slumped 4.1 percent to 1,145.07 at 10:29 a.m. in New York. All 10 groups in the S&P 500 dropped at least 1.8 percent. The Dow Jones Industrial Average fell 438.62 points, or 3.8 percent, to 10,971.59. Treasuries rallied, pushing 10-year yields to a record low.
Sunday, July 24, 2011
UK stock market outlook Week july 25 2011
UK stock market outlook Week july 25 2011 - UK stock marke predictiion 25 2011, UK stock to watch 25 july 2011, Despite the latest agreements within Eurozone, stock markets continue rattled by the ongoing debt crisis as pressure remains on the survival of the Euro itself. Now concern of a possible debt default in the US could send further shockwaves through the world economies.
In the UK on Monday, companies reporting e-Therapeutics, ECO Animal Health Group, Sagentia Group, Wolfson Microelectronics, WSP Group, plus Domino's Pizza, who continues to attract broker buy notes on the back of its product promotions and international expansion plan.
Reckitt Benckiser Group reports Monday and remains in the sights as a M&A, merger & acquisitions target of companies like Unilever and Procter & Gamble for its strong brand portfolio that includes Durex and Nurofen and Cillit Bang.
On Tuesday July 26 2011 ; ITM Power, PZ Cussons, ARM Holdings, BG Group, BP, Communisis, Informa, Norsk Hydro ASA, Aquarius Platinum and GlaxoSmithKline offer half-year figures and tablets micro chip designer and maker ARM Holdings.
ARM is on a high after being selected for many of the latest generation hand-held PC devices including Apple iPhone and iPad however the shares continue defying gravity on a heady forward P/E of 58 with brokers divided on its current rating.
In oil and gas, interim numbers from BP are expected to reflect the first real recovery from the huge financial impact and corporate responsibility, following the Gulf of Mexico oil spill.
Also on Tuesday July 27 2011, results from gas explorer and producer BG Group who recently doubled estimates for its Brazilian Santos Basin reserves and resources at six billion barrels of oil equivalent.
On Wednesday July 28 2011 Renishaw, British American Tobacco, CSR, Virgin Media, easyJet, Dignity, Lancashire Holdings, Morgan Crucible, Provident Financial, Rathbone Brothers, Carphone Warehouse, Brewin Dolphin, Marston's and Sage Group.
Mid-term figures from data management software Autonomy Corporation also on Wednesday with shares are on forward P/E of 23 and Yell Group, who's shares spiked last week on news of a marketing agreement with Microsoft only for profit takers to cover shortterm gains in favour of safety.
On Thursday 29 2011 ; Astra Zeneca, BAE Systems, Centrica, Rank Group, Reed Elsevier, Rolls-Royce Group, Croda International, Inchcape, Laird, Mondi, National Express Group, Promethean World">Promethean World, RPS Group, Shire, Kazakhmys, Compass Group, Halma and control group Invensys.
Invensys recently indicated that it would cut 20% of its workforce of 1,000 within its UK rail business after losing signal renewal work on London Underground but the share remain a consensus broker 'buy' on market penetration and international coverage.
The is a first quarter update from BT Group and oil major Royal Dutch Shell and ex British Gas Centrica reports interims on Thursday.
On Friday July 30 2011 ; British Sky Broadcasting Group, Anglo American, Charter International, Manganese Bronze Holdings, Rentokil Initial, Travis Perkins.
Full-year results from satellite broadcaster British Sky Broadcasting Group should prove interesting after Rupert Murdoch's News Corp were prevented from continuing effort to acquire further BSkyB shares on top of the 39% that it already owns.
Amongst the AGM during the week, National Grid, CSS Stellar, Helical Bar, iPoint-Media, Porta Communications, Scapa Group, Viridas, Vodafone Group, API Group, Blacks Leisure Group, Synergy Health, TyraTech Inc and Parallel Media Group.
In the UK on Monday, companies reporting e-Therapeutics, ECO Animal Health Group, Sagentia Group, Wolfson Microelectronics, WSP Group, plus Domino's Pizza, who continues to attract broker buy notes on the back of its product promotions and international expansion plan.
Reckitt Benckiser Group reports Monday and remains in the sights as a M&A, merger & acquisitions target of companies like Unilever and Procter & Gamble for its strong brand portfolio that includes Durex and Nurofen and Cillit Bang.
On Tuesday July 26 2011 ; ITM Power, PZ Cussons, ARM Holdings, BG Group, BP, Communisis, Informa, Norsk Hydro ASA, Aquarius Platinum and GlaxoSmithKline offer half-year figures and tablets micro chip designer and maker ARM Holdings.
ARM is on a high after being selected for many of the latest generation hand-held PC devices including Apple iPhone and iPad however the shares continue defying gravity on a heady forward P/E of 58 with brokers divided on its current rating.
In oil and gas, interim numbers from BP are expected to reflect the first real recovery from the huge financial impact and corporate responsibility, following the Gulf of Mexico oil spill.
Also on Tuesday July 27 2011, results from gas explorer and producer BG Group who recently doubled estimates for its Brazilian Santos Basin reserves and resources at six billion barrels of oil equivalent.
On Wednesday July 28 2011 Renishaw, British American Tobacco, CSR, Virgin Media, easyJet, Dignity, Lancashire Holdings, Morgan Crucible, Provident Financial, Rathbone Brothers, Carphone Warehouse, Brewin Dolphin, Marston's and Sage Group.
Mid-term figures from data management software Autonomy Corporation also on Wednesday with shares are on forward P/E of 23 and Yell Group, who's shares spiked last week on news of a marketing agreement with Microsoft only for profit takers to cover shortterm gains in favour of safety.
On Thursday 29 2011 ; Astra Zeneca, BAE Systems, Centrica, Rank Group, Reed Elsevier, Rolls-Royce Group, Croda International, Inchcape, Laird, Mondi, National Express Group, Promethean World">Promethean World, RPS Group, Shire, Kazakhmys, Compass Group, Halma and control group Invensys.
Invensys recently indicated that it would cut 20% of its workforce of 1,000 within its UK rail business after losing signal renewal work on London Underground but the share remain a consensus broker 'buy' on market penetration and international coverage.
The is a first quarter update from BT Group and oil major Royal Dutch Shell and ex British Gas Centrica reports interims on Thursday.
On Friday July 30 2011 ; British Sky Broadcasting Group, Anglo American, Charter International, Manganese Bronze Holdings, Rentokil Initial, Travis Perkins.
Full-year results from satellite broadcaster British Sky Broadcasting Group should prove interesting after Rupert Murdoch's News Corp were prevented from continuing effort to acquire further BSkyB shares on top of the 39% that it already owns.
Amongst the AGM during the week, National Grid, CSS Stellar, Helical Bar, iPoint-Media, Porta Communications, Scapa Group, Viridas, Vodafone Group, API Group, Blacks Leisure Group, Synergy Health, TyraTech Inc and Parallel Media Group.
Monday, July 18, 2011
FTSE Shares prices today july 18 2011, down sharply
FTSE Shares prices today july 18 2011, down sharply ; London stocks closed sharply lower on Monday, amid uncertainty over the debt-ceiling impasse in Washington as well as the eurozone's battle to extinguish a blazing debt crisis.
Britain's top shares fell sharply on Monday after the results of stress tests on European banks were met with disappointment over their credibility while investors were also fearful over the threat of a U.S. default on the nation's debt.
The banking sector index sunk to a two-year low as money managers and traders cast doubts over whether the stress test results, released on Friday, were stringent enough.:
Lloyds Banking Group , Barclays , and Royal Bank of Scotland were at the top of the blue-chip fallers' list, off 7.5 percent, 7 percent, and 6 percent respectively.
Eight European banks -- five in Spain, two in Greece and one in Austria -- failed the test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected.
Expectations were for five to 15 banks to fall short with a need to raise 10 billion euros or more in
FTSE 100 - Risers
Fresnillo (FRES) 1,659.00p +2.09%
Randgold Resources Ltd. (RRS) 5,560.00p +1.74%
ARM Holdings (ARM) 569.00p +0.89%
British Sky Broadcasting Group (BSY) 713.50p +0.56%
Shire Plc (SHP) 2,075.00p +0.53%
Centrica (CNA) 318.50p +0.35%
Autonomy Corporation (AU.) 1,730.00p +0.35%
British Land Co (BLND) 604.50p 0.00%
Severn Trent (SVT) 1,427.00p -0.07%
Imperial Tobacco Group (IMT) 2,148.00p -0.09%
FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 41.34p -7.47%
Barclays (BARC) 207.65p -7.01%
Royal Bank of Scotland Group (RBS) 32.97p -6.04%
GKN (GKN) 227.90p -4.64%
ITV (ITV) 63.65p -4.57%
IMI (IMI) 1,037.00p -4.51%
Resolution Ltd. (RSL) 265.00p -4.44%
Old Mutual (OML) 125.50p -4.34%
Man Group (EMG) 231.00p -4.23%
Cairn Energy (CNE) 371.50p -4.10%
FTSE 250 - Risers
Centamin Egypt Ltd. (CEY) 141.50p +4.20%
Dixons Retail (DXNS) 15.89p +3.92%
African Barrick Gold (ABG) 472.30p +3.71%
PZ Cussons (PZC) 370.00p +2.75%
Hochschild Mining (HOC) 509.50p +2.64%
Rank Group (RNK) 153.70p +1.79%
Daejan Holdings (DJAN) 2,954.00p +1.51%
Computacenter (CCC) 471.00p +0.94%
BH Macro Ltd. EUR Shares (BHME) € 17.10 +0.83%
UK Commercial Property Trust (UKCM) 80.00p +0.63%
FTSE 250 - Fallers
Inchcape (INCH) 373.80p -8.18%
Punch Taverns (PUB) 66.85p -5.98%
Ashtead Group (AHT) 155.70p -5.92%
TUI Travel (TT.) 178.20p -5.86%
Kenmare Resources (KMR) 53.25p -5.75%
IG Group Holdings (IGG) 411.40p -5.43%
Thomas Cook Group (TCG) 67.00p -4.90%
easyJet (EZJ) 301.00p -4.84%
Howden Joinery Group (HWDN) 104.60p -4.82%
Bwin.party Digital Entertainment (BPTY) 132.30p -4.82%
FTSE TechMARK - Risers
Skyepharma (SKP) 44.50p +3.49%
Timeweave (TMW) 27.00p +3.35%
Ceva Inc. (CVA) 1,750.00p +2.94%
Filtronic (FTC) 25.50p +1.49%
Optos (OPTS) 164.50p +0.92%
AEA Technology Group (AAT) 3.45p +0.73%
Xaar (XAR) 276.00p +0.73%
Phytopharm (PYM) 7.80p +0.65%
Antisoma (ASM) 2.58p +0.19%
Kewill (KWL) 100.88p +0.12%
FTSE TechMARK - Fallers
Vectura Group (VEC) 91.00p -5.21%
CML Microsystems (CML) 216.00p -5.05%
DRS Data & Research Services (DRS) 20.00p -4.76%
Promethean World (PRW) 61.50p -4.28%
E2V Technologies (E2V) 123.75p -4.26%
Torotrak (TRK) 53.25p -3.18%
Emblaze Ltd. (BLZ) 59.12p -2.87%
Ark Therapeutics Group (AKT) 4.75p -2.56%
Vernalis (VER) 38.50p -2.53%
Wolfson Microelectronics (WLF) 163.50p -2.53%
Britain's top shares fell sharply on Monday after the results of stress tests on European banks were met with disappointment over their credibility while investors were also fearful over the threat of a U.S. default on the nation's debt.
The banking sector index sunk to a two-year low as money managers and traders cast doubts over whether the stress test results, released on Friday, were stringent enough.:
Lloyds Banking Group , Barclays , and Royal Bank of Scotland were at the top of the blue-chip fallers' list, off 7.5 percent, 7 percent, and 6 percent respectively.
Eight European banks -- five in Spain, two in Greece and one in Austria -- failed the test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected.
Expectations were for five to 15 banks to fall short with a need to raise 10 billion euros or more in
FTSE 100 - Risers
Fresnillo (FRES) 1,659.00p +2.09%
Randgold Resources Ltd. (RRS) 5,560.00p +1.74%
ARM Holdings (ARM) 569.00p +0.89%
British Sky Broadcasting Group (BSY) 713.50p +0.56%
Shire Plc (SHP) 2,075.00p +0.53%
Centrica (CNA) 318.50p +0.35%
Autonomy Corporation (AU.) 1,730.00p +0.35%
British Land Co (BLND) 604.50p 0.00%
Severn Trent (SVT) 1,427.00p -0.07%
Imperial Tobacco Group (IMT) 2,148.00p -0.09%
FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 41.34p -7.47%
Barclays (BARC) 207.65p -7.01%
Royal Bank of Scotland Group (RBS) 32.97p -6.04%
GKN (GKN) 227.90p -4.64%
ITV (ITV) 63.65p -4.57%
IMI (IMI) 1,037.00p -4.51%
Resolution Ltd. (RSL) 265.00p -4.44%
Old Mutual (OML) 125.50p -4.34%
Man Group (EMG) 231.00p -4.23%
Cairn Energy (CNE) 371.50p -4.10%
FTSE 250 - Risers
Centamin Egypt Ltd. (CEY) 141.50p +4.20%
Dixons Retail (DXNS) 15.89p +3.92%
African Barrick Gold (ABG) 472.30p +3.71%
PZ Cussons (PZC) 370.00p +2.75%
Hochschild Mining (HOC) 509.50p +2.64%
Rank Group (RNK) 153.70p +1.79%
Daejan Holdings (DJAN) 2,954.00p +1.51%
Computacenter (CCC) 471.00p +0.94%
BH Macro Ltd. EUR Shares (BHME) € 17.10 +0.83%
UK Commercial Property Trust (UKCM) 80.00p +0.63%
FTSE 250 - Fallers
Inchcape (INCH) 373.80p -8.18%
Punch Taverns (PUB) 66.85p -5.98%
Ashtead Group (AHT) 155.70p -5.92%
TUI Travel (TT.) 178.20p -5.86%
Kenmare Resources (KMR) 53.25p -5.75%
IG Group Holdings (IGG) 411.40p -5.43%
Thomas Cook Group (TCG) 67.00p -4.90%
easyJet (EZJ) 301.00p -4.84%
Howden Joinery Group (HWDN) 104.60p -4.82%
Bwin.party Digital Entertainment (BPTY) 132.30p -4.82%
FTSE TechMARK - Risers
Skyepharma (SKP) 44.50p +3.49%
Timeweave (TMW) 27.00p +3.35%
Ceva Inc. (CVA) 1,750.00p +2.94%
Filtronic (FTC) 25.50p +1.49%
Optos (OPTS) 164.50p +0.92%
AEA Technology Group (AAT) 3.45p +0.73%
Xaar (XAR) 276.00p +0.73%
Phytopharm (PYM) 7.80p +0.65%
Antisoma (ASM) 2.58p +0.19%
Kewill (KWL) 100.88p +0.12%
FTSE TechMARK - Fallers
Vectura Group (VEC) 91.00p -5.21%
CML Microsystems (CML) 216.00p -5.05%
DRS Data & Research Services (DRS) 20.00p -4.76%
Promethean World (PRW) 61.50p -4.28%
E2V Technologies (E2V) 123.75p -4.26%
Torotrak (TRK) 53.25p -3.18%
Emblaze Ltd. (BLZ) 59.12p -2.87%
Ark Therapeutics Group (AKT) 4.75p -2.56%
Vernalis (VER) 38.50p -2.53%
Wolfson Microelectronics (WLF) 163.50p -2.53%
Wednesday, July 13, 2011
impact UK phone hacking scandal, stock has fallen
impact UK phone hacking scandal, stock has fallen : News Corp. (NWS) Wednesday said it was dropping its bid to acquire the 60.9% of British Sky Broadcasting Group PLC (BSY.LN) that it doesn't already own, amid a political firestorm over alleged unethical reporting tactics at some of its British newspapers.
The decision was welcomed by British Prime Minister David Cameron, who just hours earlier had told parliament News Corp "should not be focused on mergers and takeovers, but on clearing up the mess and getting their house in order."
BSkyB's shares fell around 3.5% immediately following the bid withdrawal, but have since recovered and at 1411 GMT were trading down 8 pence, or 0.7%, at 687 pence, valuing the company at GBP12.04 billion, in a slightly higher London market. The stock has fallen around 19% since new phone hacking allegations surfaced on July 5. In New York, News Corp. shares were up 1.6% at $16.34.
BSkyB, the U.K.'s biggest pay-television operator, noted News Corp.'s decision and said "the board believes BSkyB has a compelling investment case and significant growth opportunities, as demonstrated by its excellent operational and financial performance and strong balance sheet which provides both strategic and financial flexibility."
Outrage has grown and Murdoch's News Corp.'s share price has fallen since a report last week that his News of the World tabloid hacked into the phone of teenage murder victim Milly Dowler in 2002 and may have impeded a police investigation into her disappearance. That was followed by claims of intrusion into private records by Murdoch's other U.K. papers, The Sun and The Sunday Times.
The decision was welcomed by British Prime Minister David Cameron, who just hours earlier had told parliament News Corp "should not be focused on mergers and takeovers, but on clearing up the mess and getting their house in order."
BSkyB's shares fell around 3.5% immediately following the bid withdrawal, but have since recovered and at 1411 GMT were trading down 8 pence, or 0.7%, at 687 pence, valuing the company at GBP12.04 billion, in a slightly higher London market. The stock has fallen around 19% since new phone hacking allegations surfaced on July 5. In New York, News Corp. shares were up 1.6% at $16.34.
BSkyB, the U.K.'s biggest pay-television operator, noted News Corp.'s decision and said "the board believes BSkyB has a compelling investment case and significant growth opportunities, as demonstrated by its excellent operational and financial performance and strong balance sheet which provides both strategic and financial flexibility."
Outrage has grown and Murdoch's News Corp.'s share price has fallen since a report last week that his News of the World tabloid hacked into the phone of teenage murder victim Milly Dowler in 2002 and may have impeded a police investigation into her disappearance. That was followed by claims of intrusion into private records by Murdoch's other U.K. papers, The Sun and The Sunday Times.
Sunday, July 10, 2011
London Stock Exchange Holidays Calendar august 2011
London Stock Exchange Holidays Calendar august 2011 : The Exchange operates its Trading Services each weekday excluding Public and Bank Holidays in England & Wales. The Public and Bank Holidays recognised by the Exchange are set out below.
2011 Aug. 29 - London Stock Exchange LSE -Summer Bank Holiday
2011 Aug. 29 - London International Exchange LSE_INTL - Early Close 00:00
2011 Aug. 29 - London Stock Exchange SEAQ Market LSE_SEAQ - Summer Bank Holiday
2011 Aug. 29 - London Stock Exchange SETS Market LSE_SETS - Summer Bank Holiday
2011 Aug. 29 - London Stock Exchange LSE -Summer Bank Holiday
2011 Aug. 29 - London International Exchange LSE_INTL - Early Close 00:00
2011 Aug. 29 - London Stock Exchange SEAQ Market LSE_SEAQ - Summer Bank Holiday
2011 Aug. 29 - London Stock Exchange SETS Market LSE_SETS - Summer Bank Holiday
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