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IDS World Markets Fri 16th November 07


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t?s=%5EAORD

 

 

Sheesh, late again...I'm getting into baaad habits.. :P

 

All Ords started the day with a slide but buyers are coming out of the woodwork. The index is currently -0.7% with Financials, -1.5%, down the most (haha) followed by Energy -1.2%. There's a couple of green sectors, IT +2.7% and Consumer Discretionary +0.1%.

 

The big miners hanging in: BHP +1% and RIO flat. Golds are getting creamed, Newcrest -3.1%, Newmont -3.3% and Lihir -3.7%.

 

The major oils all down around 3%.

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Toyota Says U.S. Auto Sales to Extend Decline in 2008

 

Nov. 15 (Bloomberg) -- Toyota Motor Corp., second in U.S. auto sales this year, expects an industrywide slowdown in demand to continue into 2008 because of a housing slump and rising gasoline prices.

 

Demand for new vehicles in the first half of next year may fall from a year earlier as the declining housing market continues to be ``a drag on the economy,'' Jim Lentz, president of Toyota's U.S. sales unit, said in an interview late yesterday in Los Angeles. ``The high cost of fuel is going to have an effect on the first half of the year as well.''

 

Toyota, Japan's largest carmaker, raised U.S. sales 3.9 percent through October even as the market shrank 2.5 percent. That was still less than the company's initial target for the year of a 5 percent or greater gain.

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U.K. Retail Sales Fall for First Time in Nine Months

 

Nov. 15 (Bloomberg) -- U.K. retail sales unexpectedly fell for the first time in nine months in October as shoppers bought less food and clothing, a sign higher borrowing costs are squeezing consumer spending.

 

Retail sales declined 0.1 percent, compared with an increase of 0.3 percent in September, the Office for National Statistics said today in London. Economists had forecast a 0.1 percent gain, according to the median of 32 estimates in a Bloomberg News survey. From a year ago, sales rose 4.4 percent.

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Miner makes a billion in a day

 

ANDREW Forrest went to bed last night more than $1 billion richer even though his mining company is yet to ship any iron ore.

 

The 42-year-old resource magnate made $1 billion - at least on paper - yesterday, after his company Fortescue Metals Group (fmg.ASX:Quote,News) discovered a huge new iron ore deposit in the Pilbara region in Western Australia.

 

Mr Forrest's paper wealth grew the equivalent of $375 million an hour from 1.20pm, when the announcement was made, to 4pm, when the sharemarket closed.

 

 

fmg.ax

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w?s=%5EAORD

 

 

Well, the buyers tried but the day just got more bearish as it wore on. All Ords closed -1% with Energy edging into the downside lead, -2%. Financials slipped into second place, -1.6%. IT +2.7% and Property Trusts +0.2% were the only greens.

 

Mining charts ain't gonna look too bullish after today's action: BHP flat, RIO -2.5%, Newcrest -4.4%, Newmont -3.3% and Lihir -5%. Juniors ended flat to down.

 

Oils looking a bit tattered: Woodside -2.8%, Santos -1.5% and Caltex -3.4%.

 

Bearz taking it away in Asia: Honkers -3.4%, Sth Korea -2%, Nikkers -1.9% and China -1.8%.

 

 

Over to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

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

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China Factory Spending Quickens

 

Nov. 16 (Bloomberg) -- China's growth in factory and property spending unexpectedly accelerated, stoking speculation the central bank will raise interest rates for a sixth time this year to cool the world's fastest-growing major economy.

 

Fixed-asset investment in urban areas rose 26.9 percent to 8.9 trillion yuan ($1.2 trillion) in the first 10 months of 2007 from a year earlier, the statistics bureau said today. That beat the 26.2 percent median estimate of 21 economists surveyed by Bloomberg News. The pace was 26.4 percent through September.

 

The central bank may raise borrowing costs as early as today after inflation matched a decade high in October and the trade surplus widened to a record.

 

Spending through October exceeded the sizes of the economies of Russia, Brazil or India. Investment has quadrupled since 1996 when the data was first released. It accounted for 42.5 percent of China's gross domestic product last year.

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Aussie awakes refreshed and ready for another big trading day, after not setting the alarm.

 

post-837-1195209822_thumb.jpg

 

 

Hmmm. Why that big grin, Aussie? Did something interesting happen in overnight, um, "market" action?

625097[/snapback]

 

 

Nothing you want to hear about, Drano... :rolleyes:

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Isn't Starbucks one of the health-of-the-economy indicators?

 

Starbucks Brewing Less in US

 

SEATTLE (AP) -- Fewer coffee drinkers have been streaming into Starbucks Corp.'s U.S. stores -- news that overshadowed an otherwise healthy fiscal fourth quarter for the world's largest chain of coffee houses.

 

The 1 percent drop in traffic at stores open at least 13 months marked the first time the company has seen such a decline, and it helped send Starbucks shares down nearly 8 percent in after-hours trading Thursday.

 

While sticking to its ambitious goal of having 40,000 stores worldwide, Starbucks plans to open 100 fewer U.S. stores in fiscal 2008 than originally forecast, one of several moves aimed at improving operations.

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Just when you think the news can't get worse:

 

Zimbabwe's Inflation Soars to 14,841% on Food, Fuel

 

Nov. 16 (Bloomberg) -- Zimbabwe's inflation, the world's fastest, doubled to 14,841 percent in October as price controls failed to stem a jump in food and fuel costs.

 

Inflation accelerated from 7,982 percent in September, said an official at the Central Statistical Office in the capital, Harare. The official declined to be named in line with the agency's policy. Prices rose 136 percent in the month, the Zimbabwe Independent said.

 

Zimbabwe has the world's fastest-shrinking peacetime economy, according to International Monetary Fund data. In a bid to rein in inflation, the government in June imposed prices controls on goods and services, forcing companies to slash prices by half. The decree led to widespread shortages of food and fuel.

 

Shortages of food and an unemployment rate of 70 percent have forced 3 million Zimbabweans, about a quarter of the population, to flee, according to the United Nations.

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