IDS World Markets Mon 1st October 07
233 replies to this topic
Posted 30 September 2007 - 08:56 PM
I'll be a little earlier opening the forum due to reshuffling my schedule for the warmer months.
The market is up so far although All Ords has only managed +0.2%. Interestingly when I went through the charts this weekend there was an unusual amount of long signals in the spec stocks. The latter have been dead in the water for months so maybe we're about to get a decent run on those.
Very little movement in the sectors: IT is up the most, +0.7% followed by Materials, +0.6%. There's a couple of red sectors, Property Trusts, -0.5% and Telecomms -0.3%.
In the miners, BHP +0.5% and RIO +0.4% and in the golds, Newcrest +2.3%, Newmont -1%.
Oils mixed; Woodside +1%, Santos -1.2% and Caltex +0.2%.
Posted 30 September 2007 - 11:59 PM
Japan's Tankan Confidence Holds Near Two-Year High
Oct. 1 (Bloomberg) -- Japan's key barometer of business confidence unexpectedly held near a two-year high and companies increased spending plans, shrugging off a slowdown in the U.S., the nation's largest export market.
The Bank of Japan's quarterly Tankan index of sentiment at large manufacturers stayed at 23 points in September from June, the central bank said today in Tokyo.
Japan's biggest companies plan to step up investment by 8.7 percent in the year ending March, faster than June's projection, undeterred by the worst U.S. housing recession since 1991. Hitachi Ltd.'s venture with Matsushita Electric Industrial Co. and Toshiba Corp. said last week it will boost spending to make more liquid-crystal displays used in televisions.
Posted 01 October 2007 - 12:02 AM
China Sept. Purchasing Managers' Index Rises to 56.1
Oct. 1 (Bloomberg) -- Manufacturing activity in China, the world's fastest-growing major economy, expanded at a quicker pace in September, according to a survey of purchasing managers.
The Purchasing Managers' Index rose to 56.1 from 54 in August, the China Federation of Logistics and Purchasing and the National Bureau of Statistics said today in an e-mailed statement. That was the highest reading in five months.
Posted 01 October 2007 - 12:07 AM
Japan Post to Challenge Banks With World's Biggest Cash Pool
Oct. 1 (Bloomberg) -- Japan Post Corp. becomes the private company with the world's biggest pool of cash today, threatening to grab business from banks by entering the mortgage market for the first time.
Japan Post President Yoshifumi Nishikawa said last week he aims to offer mortgages next year with Suruga Bank Ltd., which operates in and around Tokyo. Suruga Bank broke ranks with other so-called regional banks, which oppose ties with the postal giant on concern it will gain the means to dominate the mortgage market through its 24,000 branches and $1.6 trillion of deposits, more than the nation's three biggest financial groups combined.
``If they really start doing mortgages it's going to impact all the banks,'' said Graeme Knowd, a Tokyo-based anal cyst at CLSA Asia Pacific Markets.
Japan's Wages Rose in August, Ending Eight Months of Declines
Oct. 1 (Bloomberg) -- Japan's wages climbed for the first time in nine months, a sign that unemployment near a nine-year low may spur consumer spending.
Monthly wages, including overtime pay and bonuses, rose 0.1 percent in August from a year earlier, ending the longest run of declines since 2004, the Labor Ministry said in Tokyo today.
Household spending rose 1.6 percent in August, the fastest pace in almost two years, according to a report last week.
Posted 01 October 2007 - 02:38 AM
Not a lot of market interest in the arvo. All Ords sold off to close flat. All sectors took a haircut with only IT +0.8% and Materials and Energy +0.4% closing up. Property Trusts and Telecomms finished down the most, both -1%.
BHP dipped into the red, -0.1% with RIO scraping up +0.6%. Golds were a different story: Newcrest +3.9%, Lihir +4.6% and Newmont -0.6%.
Oils remained mixed: Woodside +1.9%, Santos -1% and Caltex +0.3%.
Over in Asia it looks like Honkers and China closed today. Mostly gains in the others: Nikkers +0.4%, Singers +1.2%, Sth Korea +0.8%.
On to UK/Europe:
Posted 01 October 2007 - 04:51 AM
UBS Has Loss, to Cut Jobs, After Subprime Writedowns
Oct. 1 (Bloomberg) -- UBS AG, Europe's biggest bank, had a third-quarter loss and plans to cut 1,500 jobs after writing down the value of its mortgage-backed securities by about 4 billion Swiss francs ($3.4 billion).
The pretax loss, the first reported by any of the world's largest banks, totaled 600 million francs to 800 million francs, the Zurich-based bank said in a statement today. Huw Jenkins, the head of the investment bank, and Chief Financial Officer Clive Standish are stepping down. The shares fell.
The loss surprised anal cysts who estimated the company would earn as much as 3.3 billion francs and contrasts with Credit Suisse Group, which said today it was profitable in the third quarter. The writedowns are mostly on positions formerly held by Dillon Read Capital Management, the hedge-fund unit UBS shut in May after bonds backed by subprime mortgages soured.
Posted 01 October 2007 - 07:22 AM
U.K. August Mortgage Approvals Fall to Four-Month Low
Oct. 1 (Bloomberg) -- U.K. banks approved the fewest mortgages in four months in August as borrowing costs increased, a sign demand from buyers in the residential property market may start to slow.
Lenders granted 109,000 loans for house purchase, the least since April, the Bank of England said in London today.
U.K. Hometrack September House-Price Growth Stalls
Oct. 1 (Bloomberg) -- U.K. house prices were unchanged for a second month in September, suggesting five interest-rate increases in the past year and turmoil in financial markets have rattled buyers' confidence, Hometrack Ltd. said.
The average cost of a home in England and Wales was unchanged in September at 176,300 pounds ($358,000) from a month earlier, according to a survey by the London-based research group published today. London and the southeast of England were the only regions to show gains, with prices rising 0.1 percent in both areas.
Posted 01 October 2007 - 07:43 AM
Mays was the best all around player I ever saw. Koufax was the best pitcher. Williams the best hitter. My favorite players, (not including any Phillies of course), were Mays, Musial, Clemente, and of course Koufax, who was a thrill to watch whenever he pitched against the Phils.
I used to wait outside Connie Mack stadium after the games to get autographs from the visiting players heading for their team bus. Musial got on the bus and sat by a window. I tapped on it and held up one of those old popcorn cone boxes that doubled as bullhorns when you finished the popcorn. Stan the Man looked down, opened the window and reached out his hand to me. I handed him the box and pen. He signed it with a flourish, smiled, and handed it back to me.
There are some little things you just never forget.
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Posted 01 October 2007 - 08:54 AM
One August night at Busch Stadium in the 60's, I saw Clemente throw out Lou Brock at Home and Curt Flood at Third in the same inning.
48,000 Cardinals fans were left in stunned silence.
He went 4 for 5 that night; including a bunt single, a monster homerun and a line drive double off the wall in right center.
That double hit the wall so hard, it split the seam of the wall padding and they had to patch it up with duck tape.
Yup, will never forget that night.
"Americans can always be counted on to do the right thing...after they have exhausted all other possibilities."
"You can fool some of the people all of the time."
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."
Posted 01 October 2007 - 09:02 AM
In other news
South Africa beat the USA in their rugby world cup clash.
final score 64-15 - bit of a hiding, but we have historically in the TOP 4 rugby nations.
This guy, however scored the most beautiful try. Zimbabwean born player playing on the wing for the US!! (Ironic isn't it?)
Posted 01 October 2007 - 09:08 AM
Of course I'm caustic!
Posted 01 October 2007 - 09:12 AM
Wile E. Coyote Kills the Road Runner
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