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aussiebear

IDS World Markets Mon 17th March 08

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t?s=%5EAORD

 

 

Into the abyss today with all sectors red. All Ords -1.7% and again it's Financials, -3.9% and A-REIT, -2.9%, leading the way down. Healthcare is down the least, -0.8%.

 

The big miners are down on fairly low volume: BHP -1.3%, RIO -1.8%. Golds, on the other hand, are in the green: Newcrest +2.6%, Newmont +0.5% and Lihir +3.1%. Juniors still making up their minds, flat.

 

Muted action in the oils: Woodside -0.3%, Santos -1.4% and Caltex -1.9%.

 

 

Gold with a rocket:

 

au0001wb.gif

 

:blink:

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Best wishes to all stoolies Monday AM. Please be careful!

 

I myself am almost all in cash right now, and will be going to the bank asap to get some extra just in case money.

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w?s=%5EAORD

 

 

Down, down, down. All Ords -2.2% with Financials continuing to do its thing, -4.1% but even that was eclipsed by A-REIT (Property Trusts), -5.2%. There were a couple of fragile green sectors, Telecomms +0.5% and IT +0.4%.

 

The big 2 miners weren't that cheery: BHP -1.1%, RIO -2.9%. The golds did better, Newcrest +2.6%, Newmont +2.5% and Lihir +4.5%. Juniors mostly down.

 

Oils failed to gain traction: Woodside -1%, Santos -1.2% and Caltex -4.5%.

 

Asia flushed: Honkers -4%, India -3.9%, Nikkers -3.5% and China -1%.

 

 

Over to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

 

http://finance.yahoo.com/intlindices?e=europe

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Asian Bond Risk Soars on Concern Financial Collapses Imminent

 

March 17 (Bloomberg) -- The cost to protect corporate bonds in the Asia-Pacific region from default surged to records after the Federal Reserve cut its discount rate in an emergency decision and funded a bailout of Bear Stearns Cos.

 

Benchmark credit-default swap indexes in the region rose on speculation other financial institutions may collapse, said Anita Yadav, head of credit and hybrid research at UBS AG in Sydney.

 

The benchmark index in Japan gained 37 basis points to 248 basis points at 12:33 p.m. in Tokyo, Morgan Stanley prices show, and the index in Australia increased 10.5 basis points to 213 basis points after earlier trading at a record 220, according to Citigroup Inc. A basis point, or 0.01 percentage point, is worth $1,000 on a swap that protects $10 million of debt.

 

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N.Z. Consumer Confidence Slumps to 19-Month Low

 

March 17 (Bloomberg) -- New Zealand consumer confidence fell to a 19-month low in March, adding to signs that record-high interest rates are slowing economic growth.

 

Fifty-one percent of 1,000 people polled last week said the economy will worsen in the next 12 months, according to a Colmar Brunton poll e-mailed to Bloomberg News. Pessimism rose from 44 percent in the previous poll taken in February.

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Yuan Trades at Post-Peg High as China Seeks to Curb Inflation

 

March 17 (Bloomberg) -- China's yuan rose to the highest level since a dollar peg was ended in July 2005 on speculation the nation is using gains in the currency to cap inflation.

 

The currency has climbed 0.4 percent in March as the National People's Congress wraps up its annual meeting tomorrow with inflation standing at an 11-year high. Strength in the yuan lowers import prices and reduces the amount of funds flowing into the economy by pushing up the cost of exports, which governments in the U.S. and Europe have said are under valued because the currency is kept artificially weak.

 

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Google Says China Has More Internet Users Than U.S.

 

March 17 (Bloomberg) -- Google Inc., owner of the world's most popular Internet search engine, said the nation has surpassed the U.S. as the world's biggest Web market by users.

 

China will continue to add Internet users at a faster pace than the U.S., Eric Schmidt, chief executive officer of Mountain View, California-based Google, said at a briefing in Beijing today. The company plans to introduce a new home page for its Chinese site next week, he said.

 

Local investments and partnerships by Google, which generates almost all of revenue from advertising, have failed to help the company close the twofold market-share lead Baidu.com Inc. has in China. Revenue for the Chinese search market will probably surge about eightfold to 22.1 billion yuan ($3.1 billion) by 2012 from last year, researcher BDA China Ltd. projected.

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Off topic but big news here:

 

Australia Finds World War II Battleship, Ends 66-Year Search

 

March 17 (Bloomberg) -- Australia discovered the location of a World War II battleship that went down with 645 crew members on board after a naval engagement with a German merchant raider, ending a 66-year search.

 

Divers found the HMAS Sydney II at a depth of about 2.5 kilometers (1.5 miles) off the coast of the state of Western Australia, Prime Minister Kevin Rudd said today. The ship was last seen sailing ablaze over the horizon after the 30-minute battle with the raider HSK Kormoran on Nov. 19, 1941.

 

Before the discovery, the only trace of the Sydney was the 2006 discovery of the remains of a sailor buried on Christmas Island, northwest of Australia, whose body washed up on a navy life raft in February 1942.

 

The hunt for the Sydney began when it failed to respond to radio messages. In subsequent days, 317 of the Kormoran's 397- member crew were picked up, while no one from the Australian vessel was found.

 

The Sydney was located yesterday about 22 kilometers from the wreck of the Kormoran, which was discovered the day before about 210 kilometers off the Western Australian coast. Germany's government has been informed of the raider's discovery.

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The Virgin Mary was makin' breakfast for me just now. This has to be more than just a coincidence ...

post-2304-1205736858.jpg

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The Virgin Mary was makin' breakfast for me just now. This has to be more than just a coincidence ...

652011[/snapback]

Is that a jam job on your bread, or a preview of the latest remake of The Fly?

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Latin Futures:

 

MEX BOLSA 29,166.00 -923.00 29,150.00 29,150.00 29,150.00 03/14

BOVESPA 62,124.00 -613.00 62,780.00 63,500.00 60,900.00 03/14

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Is that a jam job on your bread, or a preview of the latest remake of The Fly?

652016[/snapback]

 

That's the best line of the year. :lol:

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Citic Securities to Cancel Investment in Bear Stearns

 

March 17 (Bloomberg) -- Citic Securities Co. canceled a proposed $1 billion investment in Bear Stearns Cos. after the Wall Street brokerage was bought by JPMorgan & Chase Co., said the chairman of Citic's parent company.

 

Citic Securities, China's largest securities firm by market value, also scrapped plans for a joint venture with Bear Stearns, Citic Group Chairman Kong Dan said in an interview in Beijing today. Citic Group, China's largest investment company, owns 23.4 percent of Citic Securities.

 

``We aren't carrying out the deal with them,'' Kong said. ``The situation has changed.''

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