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IDS World Markets Fri 29th February 08


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t?s=%5EAORD

 

 

The punters not happy today. All Ords -1.5% with Financials doing the drop, -3.5% closely followed by Property Trusts -3.2%. There's only two green sectors, Energy +1.7% and Mining +0.1%.

 

The big miners marking time: BHP -0.3% and RIO -0.2%. Golds solidly higher, Newcrest +2.3%, Newmont +1.5% and Lihir +3%. Juniors mixed.

 

Oils looking bullish: Woodside +2.3% and Santos +3.5%. Caltex not joining the party, -0.8%.

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w?s=%5EAORD

 

 

Back to a support level at the lower end of the recent trading range. All Ords closed -1.2% with most sectors down for the day. Financials maintained the downside lead, -3.5% with IT next at -3.1%. The only green sectors were Energy, +1.8%, Mining +0.9% and Materials +0.7%.

 

BHP got stuck in a churn 'n burn, -0.1% but RIO did better, +1.2%. Golds looked good: Newcrest +4.2%, Newmont +2% and Lihir +8.8%. No rampant speculation in the juniors, flat to down.

 

Oils did well for the most part: Woodside +2.5%, Santos +2.3% and Caltex -1.9%.

 

Asia mostly down: Nikkers -2.5%, Singers -1.8%, Honkers -1.6% and China +1.2%.

 

 

Over to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

 

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

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Japan's Inflation Rate Matches Fastest in Nine Years

 

Feb. 29 (Bloomberg) -- Japan's consumer prices rose for a fourth month in January, matching the fastest pace in more than nine years, as companies passed on higher costs of oil, wheat and soybeans.

 

Core consumer prices climbed 0.8 percent from a year earlier, the same rate as December, the statistics bureau said today in Tokyo. The median estimate of 46 economists surveyed by Bloomberg News was for a 0.9 percent increase.

 

The successor to Bank of Japan Governor Toshihiko Fukui, who steps down next month, will have to juggle slower economic growth and faster inflation when setting interest rates. The economy is in a soft patch that may be ``somewhat prolonged,'' central bank policy maker Atsushi Mizuno said yesterday.

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Doesn't get much more bullish than this ... all the news is bad, leap days are always bullish, the bottom is in, Merika is attacking every country in the Middle East ...

 

damn bullish, damn straight, party on ...

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U.K. House Prices Fell in February in Worst Streak Since 2000

 

Feb. 29 (Bloomberg) -- U.K. house prices fell in February in the worst streak of monthly declines since 2000, a sign two interest-rate cuts have yet to support the property market, a report by Nationwide Building Society showed.

 

Home values dropped for a fourth month, decreasing 0.5 percent from January to 179,358 pounds ($356,581), Britain's fourth-biggest mortgage lender said today. From a year earlier, prices rose 2.7 percent, the least since November 2005.

 

Banks have cut back on property loans to consumers with record debt and have refused to pass on the Bank of England's quarter-point interest-rate reductions in full, discouraging homebuyers. Data for January due today may show lenders approved the fewest new mortgages in at least nine years, a Bloomberg survey of economists shows.

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South African Credit Rises 23%

 

Feb. 29 (Bloomberg) -- South African credit growth accelerated to 23 percent in January, more than forecast and adding to pressure on inflation.

 

Borrowing by households and companies rose from a revised 21.6 percent in December, the Pretoria-based central bank said today. Credit was expected to expand 21.1 percent, according to the median estimate of 13 economists surveyed by Bloomberg.

 

The pick up in credit may add to speculation the central bank will resume raising rates, or keep them unchanged at a four-year high for longer, even as economic growth slows. Inflation accelerated to a five-year high of 8.8 percent in January as four rate increases last year failed to slash demand.

 

The broad M3 measure of money supply increased an annual 25.2 percent in January, compared with 23.7 percent in the previous month, the central bank said. M3 was expected to rise 24 percent, according to the Bloomberg survey.

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emea currencies not looking good eurisk, eurtry, eurhuf, eurron, bond mkts in freefall

647791[/snapback]

 

your post is tooo cryptic! :lol: for starters: EURHUF is Euro vs. Hungarian Forint :lol:

 

also the abbriviation "EMEA" usually mean "Europe, Middle East, Asia". Had you in mind that "Emerging Markets" currencies have trouble? :unsure:

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