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IDS World Markets Wed 31st October 07


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t?s=%5EAORD

 

 

A quiet day so far. All Ords -0.2% with Materials, -1.2%, down the most followed by IT, -0.9%. Consumer Discretionary has the most gain, +0.5% with Financials next at +0.4%.

 

Quite a drop on the big 2 miners: BHP -1.8% and RIO +2%. Golds are seeing less damage, Newcrest -0.2%, Newmont -1.2% and Lihir +1.7%.

 

Oils in the red: Woodside -2.4%, Santos -1.3% and Caltex flat.

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This pic makes it look like I finally got Photoshop and learned how to use it.... but it's actually a screenshot of a page with a creepy ad. The gray figure is animated and moves right across the page at you-know-who. I thought I was hallucinating the first time I saw it. Have no idea what they're advertising.

post-837-1193808003_thumb.jpg

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w?s=%5EAORD

 

 

Obviously some technical probs at Yahoo HQ re the charts....

 

All Ords experienced very low volatility for a change finishing +0.1%. The sectors, however, had very different results ranging from static to the big dive. IT continued to plunge, -2.1% and this is the lowest it's been on the daily chart since Nov last year. Energy was next lowest, -1.3%. Financials, +0.8%, came in the greenest after St George Bank announced a big profit result.

 

In the miners, the 2 heavyweights both closed -1.7%. Golds fared better, Newcrest +3.5%, Lihir +0.5% and Newmont -0.6%.

 

Oils continued to sink: Woodside -2.8%, Santos -2.2% and Caltex -1%.

 

Not much movement in Asia, less than half a percent up or down in most cases.

 

 

Over to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

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

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Bank of Japan Votes 8-1 to Keep Interest Rate at 0.5%

 

Oct. 31 (Bloomberg) -- The Bank of Japan refrained from raising interest rates before it releases a report that will probably show policy makers expect economic growth and inflation to be slower than predicted six months ago.

 

Governor Toshihiko Fukui and his colleagues left the benchmark overnight lending rate unchanged at 0.5 percent, the central bank said in a statement today in Tokyo. The decision was by an 8-1 vote, with Atsushi Mizuno the sole advocate for an increase for a fifth consecutive meeting.

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This pic makes it look like I finally got Photoshop and learned how to use it.... but it's actually a screenshot of a page with a creepy ad. The gray figure is animated and moves right across the page at you-know-who. I thought I was hallucinating the first time I saw it. Have no idea what they're advertising.

619120[/snapback]

 

Maybe you're psychic, Drano :P

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Did anyone happen to catch Maria Bartiromo's comment on CNBS' "Closing Bell" Tuesday that Larry Ellison has been liquidating a MILLION shares of Oracle every day for the past month or so?

 

At that moment, I had some business to take care of and have been away from my computer until a little while ago. I finally got the chance to do a little checking...

 

Here's the lead paragraphs of an article discussing Ellison's stock sales in today's WSJ:

 

http://online.wsj.com/article/SB1193799192...7.html?mod=MKTW

 

Ellison's Stock Sales Don't Seem To Portend Oracle Misfortune

By Nicolas Brulliard

 

Oracle Corp. Chief Executive Larry Ellison has sold more than half a billion dollars in company shares in the past month, but anal cysts say investors shouldn't look for signs of impending doom in the massive stock sales.

Mr. Ellison's recent sales are part of a plan to sell as many as 100 million shares -- worth about $2.16 billion at current prices -- over a nine-month period.

Despite their substantial size, the planned transactions represent a relatively small fraction of the holdings of Mr. Ellison, who founded the company in 1977. Mr. Ellison's large remaining stake in ...

 

- - - - - - - - - -

 

Apparently Ellison has made the proper filings for the liquidation of a portion of his Oracle shares.

 

What I am wondering about is the timing.

 

Ellison is a smart cookie, and he's unloading a sh*tload of stock.

 

[This reminds me of Angelo Mozillo's massive unloading of CFC stock in the weeks

before the doo-doo hit the fan at Countrywide.]

 

Ellison must not be too optimistic about the immediate future for Oracle shares (or the maybe the tech sector in general?).

 

Could it be that Ellison realizes the magnitude of the disaster that's brewing in the financial markets and he's attempting to cash-in as many of his chips as possible?

 

I don't subscribe to WSJ and wasn't able to read the entire article, but I wanted to pass on this interesting tidbit to other Stoolies as I haven't seen anyone make mention of this matter.

 

Anyone got any further info or clarification on this? :ph34r:

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Maybe we'll get the overbuilding drama after all... :P

 

Australian Building, Borrowing Point to Interest-Rate Increase

 

Oct. 31 (Bloomberg) -- Australia's home-building approvals surged seven times as much as economists' forecast and borrowing increased in September, adding to speculation the central bank will raise interest rates next week.

 

The number of approvals to build or renovate houses and apartments climbed 6.8 percent from August to a 14-month high, the Bureau of Statistics said today in Sydney. Lending to consumers and businesses rose a more-than-expected 1.2 percent in September, according to central bank figures.

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U.K. Housing Market Teeters on Edge of Northern Rock

 

Oct. 31 (Bloomberg) -- Nick Collins, an independent London real estate broker who's had record profits every year since 2003, took a hit in September -- and that may be bad news for a U.K. economy built on a housing bubble. Five of his 50 buyers pulled out of purchases, spooked by a run on mortgage lender Northern Rock Plc that left it 2 billion pounds ($4.1 billion) poorer.

 

``It's undermined people's confidence,'' says Collins, 38, who sells homes worth as much as 5 million pounds.

 

Britain's expansion has been spurred by a borrowing spree, thanks to interest rates at 40-year lows from 2001 to 2006. By the end of 2006, the British owed 1.37 trillion pounds, or 1.61 times their income -- the highest rate in the Group of Seven nations, according to the London-based National Institute of Economic and Social Research. By June 30, the ratio had grown to 1.66. The U.S. rate remained at 1.42 during that period.

 

Britons poured the borrowed money into housing -- and then used their new homes as collateral to take on even more debt. Residential property prices soared 189 percent in the past 10 years, almost twice the increase for single-family homes in the U.S., according to HBOS Plc, the U.K.'s biggest mortgage lender, and U.S. government figures.

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