Posted by
admin on February 16, 2012 |
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European (SXXP) stocks jumped, extending the Stoxx Europe 600 Index’s major rally in a week, as German investor confidence unexpectedly rose, offsetting downgrades of six euro-area countries by Moody’s Investors Service. U.S. index futures were little changed, while Asian shares retreated.
Royal Dutch Shell Plc (RDSA) gained 1.3 percent, dragging the Stoxx 600 higher. ThyssenKrupp AG (TKA), Germany’s biggest steelmaker, sank 2.7 percent after posting a first-quarter loss following project delays. TDC A/S (TDC), Denmark’s biggest phone company, dropped 4.6 percent after private-equity investors presented shares at a discount.
The Stoxx 600 gained 0.3 percent to 263.82 at 10:34 a.m. in London, extending yesterday’s 0.7 percent rally. The standard measure has advanced 7.9 percent this year amid optimism that the euro area will contain its crisis and as U.S. economic reports beat forecasts. S&P 500 futures expiring in March increased 0.1 percent today, while the MSCI Asia Pacific Index dropped 0.3 percent.
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Posted by
admin on February 15, 2012 |
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The Standard & Poor’s 500 Index’s biggest rally to start a year since 1991 is coinciding with a 15 percent increase in President Barack Obama’s re-election odds, viewing growing investor confidence in the U.S. financial system.
The benchmark gauge for American shares has climbed as much as 7.5 percent in 2012, the most in 21 years, as unemployment fell and Federal Reserve Chairman Ben S. Bernanke vowed to keep interest rates near zero through 2014, according to data compiled by Bloomberg. The price of a bet paying $10 should Obama win another term rose to $6 on Feb. 10 from $5.20 on Jan. 1 and below even money in November at Dublin-based bookmaker in trade.
An improved market clearly improves the president’s re- election chances,” David Kelly, who helps oversee $394 billion as chief market strategist for JPMorgan Funds in New York, said in a Feb. 8 interview. “The markets are pretty good at figuring this out.
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Posted by
admin on February 13, 2012 |
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Credit Suisse Group AG (CSGN), the second- biggest Swiss bank, said it had a loss in the fourth quarter for the opening time since 2008, hurt by “unfavorable” markets and costs to rearrange the investment bank. Credit Suisse came down the most in five weeks in Zurich trading after posting a net loss of 637 million Swiss francs ($698 million), compared with an 841 million-franc profit in the year- earlier period. That missed the 446 million-franc average profit estimate of nine analysts surveyed by Bloomberg.
Credit Suisse Chief Executive Officer Brady Dougan said actions taken to speed up a revamp of the investment bank hurt earnings in the quarter. Dougan, who lowered the company’s profit target and announced two rounds of job cuts last year, is scaling down the securities division as the European sovereign debt emergency and stricter capital necessities crimp earnings. Pretax profit at the private bank dropped 43 percent with “passive” client activity in the fourth quarter.
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