(Bloomberg) -- China's stocks advanced, set to complete a record monthly gain, after Angang Steel Co. and Anhui Conch Cement Co. reported higher earnings and JPMorgan Chase & Co. raised its economic growth forecast for the nation.
``A large number of companies have reported good earnings for the first quarter,'' said Fan Dizhao, who helps manage about $1.8 billion at Guotai Asset Management Co. in Shanghai. ``It's almost certain that the 2007 earnings will rise 30 to 40 percent for all listed companies as the economy keeps growing.''
Read more at Bloomberg Stocks News
Sunday, April 29, 2007
China stock index up 1.2 pct despite reserve hike
(Reuters) - The benchmark Shanghai Composite Index .
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term. Many investors had feared a rate hike over the holiday.
Read more at Reuters.com Hot Stocks News
The central bank's announcement on Sunday that it would raise reserve ratios by 0.5 percentage point was taken as mildly positive, implying it saw no need to hike benchmark interest rates -- a harsher monetary tightening step -- in the short term. Many investors had feared a rate hike over the holiday.
Read more at Reuters.com Hot Stocks News
Canada Outgrows China as Market of Choice for International Bond Borrowing
(Bloomberg) -- From Reykjavik to Wellington, the queue in Toronto is making Canada the fastest-growing market for international borrowers. Not even China's burgeoning bond sales can keep up with the pace of foreign debt being issued in Canadian dollars.
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Exclusive News
Canada's supremacy as the capital market of choice for companies as diverse as New Zealand's Telecom Corp. and Iceland's Kaupthing Bank hf has a lot to do with the Ottawa- based government's obsession with balanced budgets, some of the lowest interest rates available anywhere, a sinking currency against the euro and a 2-year-old law that lets pension funds own as much foreign debt as they want without a tax penalty.
Read more at Bloomberg Exclusive News
ABN, Air Liquide, Credit Suisse, Fiat, Siemens: European Equity Preview
(Bloomberg) -- The following stocks may rise or fall in European markets. Prices are from the last close.
The Dow Jones Stoxx 600 fell 0.6 percent to 386.10. The Dow Jones Stoxx 50 Index dropped 0.7 percent to 3850.56. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, declined 0.7 percent to 4383.13.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 fell 0.6 percent to 386.10. The Dow Jones Stoxx 50 Index dropped 0.7 percent to 3850.56. The Euro Stoxx 50 Index, a benchmark for the 13 nations using the euro, declined 0.7 percent to 4383.13.
Read more at Bloomberg Stocks News
Google, 4 U.S. states partner on gov't info search
(Reuters) - Google, the dominant provider of search services on the public Internet, said it has struck deals with the four states on a two-pronged approach to make state government information more accessible, both via Google and on the states' own sites.
"A lot of state agencies view their Web sites as billboards as opposed to dynamic means of two-way communications between governments and their citizens," said Darrell West, a professor of political Science at Brown University.
Read more at Reuters.com Bonds News
"A lot of state agencies view their Web sites as billboards as opposed to dynamic means of two-way communications between governments and their citizens," said Darrell West, a professor of political Science at Brown University.
Read more at Reuters.com Bonds News
U.K. Inflation Will Exceed BOE's 2 Percent Target for a Year, NIESR Says
(Bloomberg) -- U.K. inflation will exceed the 2 percent target for another year because the Bank of England cut interest rates too far in 2005, the National Institute of Economic and Social Research said.
Consumer-price inflation will average 3 percent in the three months through June, and stay above the central bank's ceiling until the second quarter of 2008, the London-based research group, whose clients include the central bank and the U.K. Treasury, said today. The forecasts assume a fourth interest-rate increase to 5.5 percent in the second half of this year.
Read more at Bloomberg Bonds News
Consumer-price inflation will average 3 percent in the three months through June, and stay above the central bank's ceiling until the second quarter of 2008, the London-based research group, whose clients include the central bank and the U.K. Treasury, said today. The forecasts assume a fourth interest-rate increase to 5.5 percent in the second half of this year.
Read more at Bloomberg Bonds News
Australian Coal Price Rises to 10-Week High on Newcastle Port Congestion
(Bloomberg) -- Export prices for power-station coal at Newcastle, Australia, the world's largest coal-export terminal, rose to a 10 week high, as producers struggle to get their fuel onto ships because of congestion at the port.
The price of thermal coal for immediate delivery from the port in New South Wales state gained 18 cents to $54.59 a metric ton in the week ended April 27 from a week ago, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29-month high.
Read more at Bloomberg Energy News
The price of thermal coal for immediate delivery from the port in New South Wales state gained 18 cents to $54.59 a metric ton in the week ended April 27 from a week ago, according to the globalCOAL NEWC Index. The price has increased from a low of $41.10 in the second week of November and in February the index reached a 29-month high.
Read more at Bloomberg Energy News
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