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IDS World Markets Tues 22nd January 08


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t?s=%5EAORD

 

 

An exciting session in Europe and it looks like it's continuing in global markets today. All Ords currently -4% and although there was a wave of buyers a short time ago they have since been swamped by sellers. Every sector is seeing serious selling with Energy no.1, -6.8% followed by Mining -6.1%. Utilities is down the least, -2%.

 

Devastation in the miners: BHP -4.5%, RIO -7.7% and in the golds, Newcrest -7.4%, Newmont -3.7% and Lihir -5.8%.

 

Oils also copping it: Woodside -6.3%, Santos -5.2% and Caltex -6.3%.

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Scottish Widows Halts Payouts From Two Property Funds

 

Jan. 21 (Bloomberg) -- Scottish Widows halted some withdrawals from two real estate funds, becoming at least the sixth British fund operator to freeze redemptions since the beginning of last month.

 

The Scottish Widows Property Pension Fund and the Scottish Widows Property Life Fund, with combined assets of 2.15 billion pounds ($4.2 billion) and 200,000 investors, will impose restrictions for 180 days.

 

Cash held by the funds has dropped to less than 2 percent of combined assets, the Edinburgh-based insurance and pensions company said in a statement today. Scottish Widows is owned by Lloyds TSB Group Plc.

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Scottish Widows Halts Payouts From Two Property Funds

 

The Scottish Widows Property Pension Fund and the Scottish Widows Property Life Fund, with combined assets of 2.15 billion pounds ($4.2 billion) and 200,000 investors, will impose restrictions for 180 days.

 

638947[/snapback]

 

I wonder if Scottish wifes open an account at Scottish Widows while their hubbies are still alive?

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I wonder if Scottish wifes open an account at Scottish Widows while their hubbies are still alive?

639002[/snapback]

 

"Scottish Widows Fund and Life Assurance Society opened in 1815 in what is now Chambers Street, as Scotland's first mutual life office. The formation of the society had been discussed from March 1812 with the purpose of providing for widows, sisters and other female relatives of fund holders so that they would not be plunged into poverty on the death of the fund holder during and after Napoleonic wars."

 

http://en.wikipedia.org/wiki/Scottish_Widows

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w?s=%5EAORD

 

 

Talk about a total rout! All Ords finished -7.3% with Energy taking the honours as the biggest loser, -10.1%. Miners were next, -9.3% followed by Materials, -8.6% and Consumer Staples (predictably) had the least loss, -5.2%.

 

Huge moves on the miners: BHP -6.9%, RIO -11.6%. Golds also down in a big way, Newcrest -9.6%, Newmont -5.2% and Lihir -13.5%. Juniors, which have held up reasonably well, were creamed.

 

Oils bit the dust: Woodside -10%, Santos -6.9% and Caltex -6.4%.

 

Asia just unbelievable: India -9.8%, Honkers -8%, Taiwan -6.5%, Nikkers -5.7% and China -5.2%.

 

 

We await fallout in UK/Europe: :ph34r:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

 

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

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