February 23, 2005
Dollar falls as Asia woos euro
Permalink: Dollar falls as Asia woos euro by Brian Turner The US dollar saw a dramatic fall in value - the highest single loss in four months - after traders interpreted comments from the South Korean central bank as meaning that Asia would be selling off its US dollars. Japan is the single largest holder of US dollar reserves in the world, and Sourth Korea holds the fourth, so it is ...
February 22, 2005
Deutsche Boerse boosts dividend
Permalink: Deutsche Boerse boosts dividend by Brian Turner Deutsche Boerse has boosted its dividend to shareholders for 2004 by 27%, in an attempt to persuade investors that the company is really looking after them. Deutsche Boerse already had already offered £1.3 billion for the London Stock Exchange, but a number of Deutsche Boerse stockholders had complained that any subsequent bid would likely overvalue the LSE and a take-over ...
February 17, 2005
Oil fears dent Japanese hopes
Permalink: Oil fears dent Japanese hopes by Brian Turner As the price of oil began a rise again, fears that Japanese economic growth would be impacted by higher oil prices led to decline in investment for finance and manufacturing. General fears that declaining economic growth is going to impact investment also saw falls in the real estate sectors. Although there was significant investment in oil stocks, overall Japanese stock indices showed ...
February 14, 2005
Russia restricts natural resources from foreign companies
Permalink: Russia restricts natural resources from foreign companies by Brian Turner Russia has this year declared its intention to exclude foreign companies from bidding on exploitation of Russian natural resources. The news will especially affecting the exploitation of oil prospecting and metal ore mining by Western companies, such as Exxon, Shell, and Fleming Family and Partners, as only those companies with at least 51% ownership by the Russian state are eligable ...
February 10, 2005
Japanese finance houses talk merger
Permalink: Japanese finance houses talk merger by Brian Turner Speculation that two of Japan's biggest finance companies may merge sent their share prices up today. Sumitomo Mitsui Financial (SMFG), and Daiwa Securities, have been linked to merger talks by Japanese finance paper Nihon Keizai Shimbun, which claimed that the two companies have already discussed the merger with Japanese regulators. Both SMFG and Daiwa refused to answer the main speculation, but did ...Fair Eire markets
Permalink: Fair Eire markets by Brian Turner Irish economic conditions look favourable to investors, as the country looks set to enjoy 5% growth over 2005 and 2006. Even with stocks in Irish companies, such as Allied Irish Banks, Bank of Ireland, and Eirecom, all at record highs, analyst suggestions are that Irish equity is still undervalued, and continue to offer quality growth at a reasonable valuation.GlaxoSmithKline loses to generics
Permalink: GlaxoSmithKline loses to generics by Brian Turner European biotech giant, GlaxoSmithKline, reported a profit fall of 9% in 2004 to a total of £6.2bn ($11.5bn). However, despite losing out around £1.5 billion to generic drugs markets, GlaxoSmithKline still saw 1% overall growth, and expects to improve on sales revenue over 2005.LSE bid speculation continues
Permalink: LSE bid speculation continues by Brian Turner Market analysts continue to consider what actual bid may eventually take the London Stock Exchange into someone elses hands. Deutsche Boerse has now been twice rejected, yet investor favourite Euronext has yet to put in an actual bid. However, Euronext has apparently lined up financing with eight banks, and this has led to speculation of a coming bid in excess of 600 ...
February 3, 2005
Oil profits roll in on market fears
Permalink: Oil profits roll in on market fears by Brian Turner ExxonMobil announced Q4 net profits of $8.42bn, resulting in a final year profits of over $25 bn. The Q4 earnings show an increase from Q3 of $5.68bn, and were especially inflated by rising oil prices. Although general market expectations were surpassed, the company warned that rising materials prices and exploration costs meant that the company would be faced with increased cost pressures ...S&R upgrade India to BB+
Permalink: S&R upgrade India to BB+ by Brian Turner India enjoyed a record run against the US dollar after major credit rating firm, Standard & Poor, raised India's credit worthiness rating a notch to BB+. India's foreign currency rating is now one notch below investment grade, which starts at 'BBB-'. Indian markets have seen a recent movement of funds out, to countries such as Korea and Thailand, which are also doing ...
February 2, 2005
Profits on US markets
Permalink: Profits on US markets by Brian Turner A string of strong profit reports were made by major US companies today. Google reported profits of over $204.1m for Q4, which again exceeded market expectations, resulting in a stock price's rise that at one point peaked at $216.80 per share. Rupert Murdoch's News Corp reported an 80% increase in Q4 profits to $386m (£205m), with film and DVD sales being particular ...
February 1, 2005