tag:blogger.com,1999:blog-71275904161118796192024-03-14T05:22:17.837-04:00ABELIAN Consulting Services Inc.We are a business management and research consultancy established in response to the increased demand for high quality evaluation services as a result of the credit crunch. Our services are highly specialized but are designed to be flexible, fit for purpose and most of all, fully satisfactory to the needs of our clients.ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.comBlogger134125tag:blogger.com,1999:blog-7127590416111879619.post-48068742396169375182017-07-03T13:41:00.000-04:002017-07-03T13:49:37.496-04:00Business Outlook 2017Q2<script>(function(t,e,s,c){var n,o,a;t.SMCX=t.SMCX||[],e.getElementById(c)||(n=e.getElementsByTagName(s),o=n[n.length-1],a=e.createElement(s),a.type="text/javascript",a.async=!0,a.id=c,a.src=["https:"===location.protocol?"https://":"http://","widget.surveymonkey.com/collect/website/js/Tp3Uyt69vTTRsTdzWqpU23dYxGcvlNQazx_2Br0JBpjEUJWlUWe4aV4_2BzXLamZ9LL3.js"].join(""),o.parentNode.insertBefore(a,o))})(window,document,"script","smcx-sdk");</script>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com1tag:blogger.com,1999:blog-7127590416111879619.post-70591829278822645952017-01-30T11:00:00.001-04:002017-01-30T11:00:20.037-04:00Consumer Confidence 2017Q1<script>(function(t,e,o,s){var n,c,i;t.SMCX=t.SMCX||[],e.getElementById(s)||(n=e.getElementsByTagName(o),c=n[n.length-1],i=e.createElement(o),i.type="text/javascript",i.async=!0,i.id=s,i.src=["https:"===location.protocol?"https://":"http://","widget.surveymonkey.com/collect/website/js/QqSTZs5i15Moup_2Fx83gotyciCZBURxeOpECP7SosMnJqSZYhX6y4vTd9HlTAxJ96.js"].join(""),c.parentNode.insertBefore(i,c))})(window,document,"script","smcx-sdk");</script><a style="font: 12px Helvetica, sans-serif; color: #999; text-decoration: none;" href=https://www.surveymonkey.com/mp/customer-satisfaction-surveys/> Create your own user feedback survey </a>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-39373000202325060312017-01-30T10:19:00.000-04:002017-01-30T10:19:58.441-04:00Business Outlook 2017Q1<script>(function(e,t,n,o){var s,c,a;e.SMCX=e.SMCX||[],t.getElementById(o)||(s=t.getElementsByTagName(n),c=s[s.length-1],a=t.createElement(n),a.type="text/javascript",a.async=!0,a.id=o,a.src=["https:"===location.protocol?"https://":"http://","widget.surveymonkey.com/collect/website/js/IlJ2TRWgeHVdGuLX6P7yUYQwWybZ0JLEJP6Sau_2BZu_2BElwzpFXzmyqf_2Fb8q3aAudF.js"].join(""),c.parentNode.insertBefore(a,c))})(window,document,"script","smcx-sdk");</script><a style="font: 12px Helvetica, sans-serif; color: #999; text-decoration: none;" href=https://www.surveymonkey.com/mp/customer-satisfaction-surveys/> Create your own user feedback survey </a>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com8tag:blogger.com,1999:blog-7127590416111879619.post-75364124603312992232016-06-02T13:21:00.000-04:002016-06-02T13:21:08.439-04:00Business Outlook 2016 Q2<div data-configid="15229656/36164792" style="width:525px; height:371px;" class="issuuembed"></div>
<script type="text/javascript" src="https://e.issuu.com/embed.js" async="true"></script>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-10225944178509234582016-04-11T22:13:00.000-04:002016-04-11T22:13:22.773-04:00Business Outlook 2016 Q1<div data-configid="15229656/34839199" style="width:525px; height:371px;" class="issuuembed"></div>
<script type="text/javascript" src="//e.issuu.com/embed.js" async="true"></script>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com10tag:blogger.com,1999:blog-7127590416111879619.post-63429383016772876552015-06-11T11:23:00.000-04:002015-06-11T11:23:29.022-04:00Consumer Sentiment Barbados 2015 Q1abelian is pleased to release the results of Consumer Sentiment survey for Barbados 2015 Q1.<br />
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<div data-configid="15229656/13455694" style="width:525px; height:340px;" class="issuuembed"></div><script type="text/javascript" src="//e.issuu.com/embed.js" async="true"></script>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com1tag:blogger.com,1999:blog-7127590416111879619.post-72612941675397540362015-05-07T01:14:00.000-04:002015-05-07T01:15:07.367-04:00Results: Business Outlook 2015 Q2 - Barbados<span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: medium; line-height: 20.7999992370605px; text-align: justify;"><span style="color: #990000;"><b>abelian</b></span> is pleased to release the results for the <i><a href="http://issuu.com/abelian/docs/business_outlook_2015_q2_-_barbados" style="color: #999999; text-decoration: none;" target="_blank">Business Outlook 2015 Q2</a></i> conducted during April 2015 to capture the views and perspective across the business community in Barbados. This was done in collaboration with the Barbados Chamber of Commerce & Industry to enhance its advocacy on behalf of its members and the wider private sector.</span><br />
<br style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: 13px; line-height: 20.7999992370605px; text-align: justify;" />
<span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: medium; line-height: 20.7999992370605px; text-align: justify;">Readers are encouraged to review the short note, <a href="http://issuu.com/abelian/docs/seebo_background_paper?e=15229656/11453946" style="color: #999999; text-decoration: none;" target="_blank">Business Confidence Background Paper</a>, which describes the quantitative conversion used to generate the confidence scores.</span><br />
<span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: medium; line-height: 20.7999992370605px; text-align: justify;"><br /></span>
<span style="background-color: white; color: #333333; font-family: Georgia, serif; font-size: medium; line-height: 20.7999992370605px; text-align: justify;"><a href="http://issuu.com/abelian/docs/business_outlook_2015_q2_-_barbados?e=15229656/12702392" target="_blank">Business Outlook 2015 Q2 - Barbados</a></span><br />
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<div class="issuuembed" data-configid="15229656/12702392" style="height: 340px; width: 525px;">
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<script async="true" src="//e.issuu.com/embed.js" type="text/javascript"></script>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com3tag:blogger.com,1999:blog-7127590416111879619.post-77547211618932536172015-03-05T11:08:00.003-04:002015-03-09T08:44:25.549-04:00Survey of Consumer Sentiment 2015 Q1<div>
<div style="text-align: justify;">
We are currently running a survey on consumer confidence during March 2015 and we invite you to participate by completing it below or by clicking the link.<br />
<br />
<a href="https://www.surveymonkey.com/s/2015q1-brb-consumer-sentiment" target="_blank"><span style="font-size: large;">Complete 2015Q1 Survey on Consumer Sentiment - Barbados</span></a> </div>
<div style="text-align: justify;">
<br />
Thanks in advance.</div>
<div style="text-align: justify;">
ABELIAN Consulting Services</div>
</div>
<div id="surveyMonkeyInfo">
<div>
<script src="https://www.surveymonkey.com/jsEmbed.aspx?sm=w5jVWRC5HLWteXT6PJ_2baGw_3d_3d"> </script></div>
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Create your free online surveys with <a href="https://www.surveymonkey.com/">SurveyMonkey</a> , the world's leading questionnaire tool.</div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-2609099524897145172015-02-16T19:22:00.000-04:002015-03-12T13:39:08.676-04:00Business Confidence Survey Schedule 2015 - Barbados<div style="text-align: justify;">
<span style="font-size: large;">Please note the survey dates for the Business Outlook and Survey of Economic Expectations for the next year.</span></div>
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<table border="1" cellpadding="0" cellspacing="0" class="MsoTable15Grid4Accent6" style="border-collapse: collapse; border: none; mso-border-alt: solid #A8D08D .5pt; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr>
<td style="background: #70AD47; border-right: none; border: solid #70AD47 1.0pt; mso-background-themecolor: accent6; mso-border-bottom-alt: solid #70AD47 .5pt; mso-border-bottom-themecolor: accent6; mso-border-left-alt: solid #70AD47 .5pt; mso-border-left-themecolor: accent6; mso-border-themecolor: accent6; mso-border-top-alt: solid #70AD47 .5pt; mso-border-top-themecolor: accent6; padding: 0in 5.4pt 0in 5.4pt; width: 188.75pt;" valign="top" width="252"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: white; mso-bidi-font-weight: bold; mso-themecolor: background1;">Survey<o:p></o:p></span></div>
</td>
<td style="background: #70AD47; border-bottom: solid #70AD47 1.0pt; border-left: none; border-right: none; border-top: solid #70AD47 1.0pt; mso-background-themecolor: accent6; mso-border-bottom-alt: solid #70AD47 .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themecolor: accent6; mso-border-top-alt: solid #70AD47 .5pt; mso-border-top-themecolor: accent6; mso-border-top-themecolor: accent6; padding: 0in 5.4pt 0in 5.4pt; width: 122.9pt;" valign="top" width="164"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: white; mso-bidi-font-weight: bold; mso-themecolor: background1;">Response Time<o:p></o:p></span></div>
</td>
<td style="background: #70AD47; border-left: none; border: solid #70AD47 1.0pt; mso-background-themecolor: accent6; mso-border-bottom-alt: solid #70AD47 .5pt; mso-border-bottom-themecolor: accent6; mso-border-right-alt: solid #70AD47 .5pt; mso-border-right-themecolor: accent6; mso-border-themecolor: accent6; mso-border-top-alt: solid #70AD47 .5pt; mso-border-top-themecolor: accent6; padding: 0in 5.4pt 0in 5.4pt; width: 155.85pt;" valign="top" width="208"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<span style="color: white; mso-bidi-font-weight: bold; mso-themecolor: background1;">Release Date<o:p></o:p></span></div>
</td>
</tr>
<tr>
<td style="background: #E2EFD9; border-top: none; border: solid #A8D08D 1.0pt; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-themecolor: accent6; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 188.75pt;" width="252"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Business Outlook
2015 Q2<o:p></o:p></b></div>
</td>
<td style="background: #E2EFD9; border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 122.9pt;" width="164"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
April 7 - 20, 2015</div>
</td>
<td style="background: #E2EFD9; border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 155.85pt;" width="208"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
Wednesday,</div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
May 6, 2015</div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #A8D08D 1.0pt; mso-border-alt: solid #A8D08D .5pt; mso-border-themecolor: accent6; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 188.75pt;" width="252"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Business Outlook
2015 Q3<o:p></o:p></b></div>
</td>
<td style="border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 122.9pt;" width="164"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
July 6 - 17, 2015</div>
</td>
<td style="border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 155.85pt;" width="208"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
Wednesday, </div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
August 5, 2015</div>
</td>
</tr>
<tr>
<td style="background: #E2EFD9; border-top: none; border: solid #A8D08D 1.0pt; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-themecolor: accent6; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 188.75pt;" width="252"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Business Outlook
2015 Q4<o:p></o:p></b></div>
</td>
<td style="background: #E2EFD9; border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 122.9pt;" width="164"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
October 5 - 15, 2015</div>
</td>
<td style="background: #E2EFD9; border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-background-themecolor: accent6; mso-background-themetint: 51; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 155.85pt;" width="208"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
Wednesday, </div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
November 4,
2015</div>
</td>
</tr>
<tr>
<td style="border-top: none; border: solid #A8D08D 1.0pt; mso-border-alt: solid #A8D08D .5pt; mso-border-themecolor: accent6; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 188.75pt;" width="252"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Survey of Economic
Expectations 2016<o:p></o:p></b></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>and</b></div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
<b>Business Outlook
2016 Q1<o:p></o:p></b></div>
</td>
<td style="border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 122.9pt;" width="164"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
January 4 - 15, 2016</div>
</td>
<td style="border-bottom: solid #A8D08D 1.0pt; border-left: none; border-right: solid #A8D08D 1.0pt; border-top: none; mso-border-alt: solid #A8D08D .5pt; mso-border-bottom-themecolor: accent6; mso-border-bottom-themetint: 153; mso-border-left-alt: solid #A8D08D .5pt; mso-border-left-themecolor: accent6; mso-border-left-themetint: 153; mso-border-right-themecolor: accent6; mso-border-right-themetint: 153; mso-border-themecolor: accent6; mso-border-themetint: 153; mso-border-top-alt: solid #A8D08D .5pt; mso-border-top-themecolor: accent6; mso-border-top-themetint: 153; padding: 0in 5.4pt 0in 5.4pt; width: 155.85pt;" width="208"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
Wednesday, </div>
<div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;">
February 3, 2016</div>
</td>
</tr>
</tbody></table>
<br />
<div>
<span style="font-size: large;">Look out for the surveys in your inbox during the response period.</span><br />
<span style="font-size: large;"><br /></span>
<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-JM5BuNgQUBg/Uji-76BPDeI/AAAAAAAAAR0/A0X3ZkiY75E/s1600/ACSI_logo2c.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://4.bp.blogspot.com/-JM5BuNgQUBg/Uji-76BPDeI/AAAAAAAAAR0/A0X3ZkiY75E/s1600/ACSI_logo2c.jpg" height="199" width="320" /></a></div>
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ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com4tag:blogger.com,1999:blog-7127590416111879619.post-18629505718398042002015-02-16T19:12:00.000-04:002015-02-16T19:13:29.818-04:00Results: Survey of Economic Expectations 2015 and Business Outlook 2015 Q1<br />
<div style="text-align: justify;">
<span style="font-size: large;"><span style="color: #990000;"><b>abelian</b></span> is pleased to release the results for the <i><a href="http://issuu.com/abelian/docs/201501_abelianbcci_survey_of_econom?e=15229656/11453868" target="_blank">Survey of Economic Expectations 2015</a></i> and the <i><a href="http://issuu.com/abelian/docs/201501_abelianbcci_business_outlook?e=15229656/11453745" target="_blank">Business Outlook 2015 Q1</a></i> conducted during the month of January 2015 to capture the views and perspective across the business community in Barbados. This was done in collaboration with the Barbados Chamber of Commerce & Industry to enhance its advocacy on behalf of its members and the wider private sector.</span><br />
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<span style="font-size: large;">Readers are encouraged to review the short note, <a href="http://issuu.com/abelian/docs/seebo_background_paper?e=15229656/11453946" target="_blank">Business Confidence Background Paper</a>, which describes the quantitative conversion used to generate the confidence scores.</span><br />
<span style="font-size: large;"><br /></span><span style="font-size: large;"><a href="http://issuu.com/abelian/docs/seebo_background_paper?e=15229656/11453946" target="_blank">Business Confidence Background Paper</a></span><br />
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<span style="font-size: large;"><a href="http://issuu.com/abelian/docs/201501_abelianbcci_survey_of_econom?e=15229656/11453868" target="_blank">Survey of Economic Expectations 2015</a></span><br />
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<span style="font-size: large;"><a href="http://issuu.com/abelian/docs/201501_abelianbcci_business_outlook?e=15229656/11453745" target="_blank">Business Outlook 2015 Q1</a></span><br />
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<span style="font-size: large;">For more information please contact us via email info@abelianconsulting.com or by telephone (246) 251-0811.</span></div>
<br />ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com2tag:blogger.com,1999:blog-7127590416111879619.post-83911992726010686642015-01-19T12:02:00.001-04:002015-01-19T20:38:41.446-04:00Survey of Economic Expectations 2015 & Business Outlook 2015 Q1<b>Dear Business Executive,</b><br />
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The <b style="font-size: x-large;"><span style="font-size: large;">Barbados Chamber of Commerce and Industry</span> (BCCI) </b>in collaboration with <b style="color: #990000; font-size: x-large;"><span style="color: #990000; font-size: large;">abelian </span></b>is pleased to launch the <b><span style="color: blue; font-size: large;">Survey of Economic Expectation 2015</span> </b>and the <b style="color: #990000;"><span style="color: blue; font-size: large;">Business Outlook 2015 Q1</span><span style="font-size: large;"> </span></b>to gather the perspectives on the business climate in Barbados from members of the business community<span style="font-weight: bold;">. </span></div>
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These results would assist the BCCI to enhance its advocacy efforts on behalf of its members and the many other businesses operating in Barbados.</div>
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We invite you to share your perspectives with the BCCI by completing the electronic surveys in PDF format by <b>downloading the form</b> using the link or the embed image below.</div>
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We would appreciate completed surveys by close of business on <b><span style="color: #cc0000; font-size: large;">Friday, January 30, 2015.</span></b></div>
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Thanks in advance for your cooperation.</div>
<br />
<a href="https://app.box.com/s/82ucx70nd3q7eik4n8cvhlsklzrfrosw" target="_blank"><span style="color: black; font-size: x-large;"><b>DOWNLOAD</b></span><span style="font-size: large;"> Survey of Economic Expectations 2015 and Business Outlook 2015 Q1 <b><span style="color: black;">here</span></b></span></a><br />
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ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com4tag:blogger.com,1999:blog-7127590416111879619.post-48948532391915398162014-10-09T15:52:00.000-04:002014-10-09T15:52:05.050-04:00Restoring consumer confidencehttp://www.nationnews.com/articles/view/restoring-consumer-confidence/ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-27088479410643784862014-08-11T19:00:00.001-04:002014-08-11T19:03:14.094-04:00Basel II Credit Risk Management<span style="font-family: "Trebuchet MS",sans-serif;">ABELIAN is pleased to announce the launch of our Basel II Credit Risk Management Framework for banks, credit unions and other financial services granting credit.</span><br />
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<a href="http://abelianconsulting.blogspot.com/p/credit-risk.html" target="_blank"><img alt="http://abelianconsulting.blogspot.com/p/credit-risk.html" border="0" src="http://1.bp.blogspot.com/-ycJ2wiN0oOg/U-lBZnKRNpI/AAAAAAAAASQ/bQY8bAKXuBQ/s1600/Basel+II.jpg" height="127" width="400" /></a></div>
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<span style="font-family: "Trebuchet MS",sans-serif;">For more information, please click <a href="http://abelianconsulting.blogspot.com/p/credit-risk.html" target="_blank">here </a>or view our Credit Risk Brochure below. </span><br />
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<iframe allowfullscreen="" frameborder="0" height="400" msallowfullscreen="" src="https://app.box.com/embed_widget/s/bal8ductt5qjqhziu9ya?theme=blue" webkitallowfullscreen="" width="500"></iframe>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com4tag:blogger.com,1999:blog-7127590416111879619.post-1796822219938363112013-09-17T13:26:00.002-04:002013-09-17T13:27:06.279-04:00ABELIAN Consulting Services Promotional Video<div class="separator" style="clear: both; text-align: center;">
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<span class="Apple-style-span" style="color: #cc0000; font-family: Georgia, 'Times New Roman', serif; font-size: large;"><b>Promotional video showing some of our services offering and a sample of the projects we have completed thus far.</b></span></div>
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<br />ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com3tag:blogger.com,1999:blog-7127590416111879619.post-21705571947081160472013-01-23T10:35:00.000-04:002013-01-23T10:35:46.541-04:00Compete Caribbean SME Grant Funding<span class="Apple-style-span" style="-webkit-border-horizontal-spacing: 0px; -webkit-border-vertical-spacing: 0px; -webkit-text-decorations-in-effect: none; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; border-collapse: separate; color: black; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px;"><div style="margin: 0px; text-align: center;">
<span class="Apple-style-span" style="color: red; font-family: Georgia, 'Times New Roman', serif;"><b>FOR YOUR INFORMATION</b></span></div>
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<span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;">Please find enclosed some information regarding grant funding of up to US$500,000 for private sector firms to be accessed directly from Compete Caribbean.</span></div>
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<span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;"></span> </div>
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<span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;"></span><span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;"><b>Kindly note the submission deadline of March 31, 2013.</b></span></div>
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<span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;"></span> </div>
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<span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;"></span><span class="Apple-style-span" style="font-family: Georgia, "Times New Roman", serif;">A PDF copy can be downloaded<span class="Apple-converted-space"> </span><a href="https://www.box.com/s/din78ld970l9sh422g16" target="_blank">here</a><span class="Apple-converted-space"> </span>or by clicking the link below.</span></div>
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</span>ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com1tag:blogger.com,1999:blog-7127590416111879619.post-48541537914140714762012-10-08T14:13:00.001-04:002012-10-08T14:13:54.708-04:00October 8, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://3.bp.blogspot.com/-oMUtQxbg0-Y/UHMXmiRRTCI/AAAAAAAAAKM/WCA2Yi8IeRs/s1600/20121008+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://3.bp.blogspot.com/-oMUtQxbg0-Y/UHMXmiRRTCI/AAAAAAAAAKM/WCA2Yi8IeRs/s320/20121008+Key+Global+Indices.png" width="317" /></a></div>
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<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading marginally lower.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 6.6 points down, while
French CAC-40 futures are trading marginally lower.<o:p></o:p></span></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 24.0 points down.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Markets
in Japan were closed on account of public holiday. <o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.5% or $0.42 lower at $89.45
per barrel.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6113, 0.1%
higher against the EUR at €1.2396, and 0.2% lower against the JPY at ¥126.69.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 24.0 points down.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">On
Friday, DJIA edged up 0.3%, to end at 13,610.2. NASDAQ slid 0.4%, to close at
3,136.2. S&P 500 eased marginally to settle at 1,460.9.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">US
markets closed mixed on Friday, as early euphoria over a better-than-expected
September jobs report faded amid renewed concern about the eurozone debt
crisis.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">First
Solar slumped 11.0%, after a broker downgraded the stock to “Negative” from
“Positive”, citing reliability related issues of module-junction box. Zynga
lost 11.9%, as it cut its full-year earnings and revenue outlook late Thursday.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">Apple
lost 2.1%, apparently weighed down by an encouraging quarterly profit posted by
its rival, Samsung.<span style="mso-spacerun: yes;"> </span>Hewlett-Packard
continued its slide, dropping 1.4%, after a broker downgraded its rating on the
stock to “Neutral” from “Buy”.<o:p></o:p></span></div>
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<span style="font-family: "Georgia","serif";">However,
Home Depot rose 2.4%, hitting a new 52-week high, as Minyanville named it as
one of the top buys in the services sector. Boeing added 1.4%, after it
delivered 149 commercial air-planes in the third quarter, a sharp rise from a
year ago.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Celadon Group rose 1.7%, as its projected first-quarter
earnings that surpassed market expectations.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
markets are trading lower this morning, as investors exercised caution before a
meeting of the European finance ministers at Luxembourg, aimed to ease the
European debt crisis.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Prada SpA lost values, as China's retail sales growth slowed during
the Golden Week holiday. SIM Technology Group tumbled as it mulled to raise
$22.7 million. ZTE Corp paced losses, as a US congressional investigation
concluded that the company posed a security threat to the US and should be
barred from US contracts and acquisitions.<o:p></o:p></span></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Samsung Electronics paced losses, as a survey of US consumers
revealed that the patent ruling in a legal-row with Apple had a mostly-negative
impact on Samsung’s long-term competitive position in smart-phones and tablets.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Japanese
markets were closed on account of public holiday. Hang Seng is trading 0.7%
down, at 20,855.9. Kospi is trading 0.7% lower, at 1,980.5.<o:p></o:p></span></div>
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<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading marginally lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Axa
Plc is considering plans to branch into legal services to remain competitive in
the market and continue to offer customers choice.<o:p></o:p></span></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Britain’s
defence secretary has warned that the French and German governments must reduce
their stakes in EADS for the UK to allow a proposed merger with BAE Systems Plc.<o:p></o:p></span></div>
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</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 6.6 points down, while
French CAC-40 futures are trading marginally lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to “Welt am Sonntag”, BMW AG's motorcycle unit is mulling to improve vehicle
sales both this year and in 2013 and is eyeing to expand its product portfolio
and improve sales in Asia and America.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to Reuters, PPR is preparing to sell its book and CD retailer Fnac and online
fashion store La Redoute as part of a strategy to concentrate on business
luxury and sports brands.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.5% or $0.42 lower at $89.45
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, crude oil for November delivery fell 2.0% or $1.83 to $89.88 per
barrel, as continued uncertainty about the European debt crisis overshadowed a
report that showed surprise drop in the US unemployment rate. Additionally,
there was no support for oil prices as fears that unrest in the Middle East and
North Africa would lead to further supply problems begun to wane.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.5% lower today, at $1,770.97 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery dropped 0.9% or $15.70 to $1,780.80 per ounce on Friday,
as a dip in US unemployment rate in September weakened the case for any
additional US Fed stimulus action, decreasing the demand for the yellow metal
as an inflation hedge.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, copper 3-month futures fell 0.4% or $34.5, to close at $8,295.50 /MT. Aluminium
3-month futures rose 1.5% or $30.0, to close at $1,990.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6113, 0.1%
higher against the EUR at €1.2396, and 0.2% lower against the JPY at ¥126.69.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.3% lower against the USD at $1.2998 and 0.3% lower against the
JPY at ¥102.22, ahead of reports due later in the day which are expected to
show that German industrial production and exports dropped in August. Investors
are also expected to remain watchful about the European Finance Ministers meet
in Luxembourg today, while German Chancellor Angela Merkel is expected to visit
Greece tomorrow.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD is trading lower against the USD, before data due in the week which might
show that unemployment in Australia increased in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, the USD ended lower against the EUR, as stronger-than-expected US
economic data indicated that the world’s biggest economy is recovering and
decreased demand for the dollar as a safe haven asset. The USD ended higher
against the JPY.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
the JPY traded higher earlier in the trading session, as the Bank of Japan kept
its monetary policy unchanged and refrained from additional easing measures.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
CAD ended higher against the USD, after Canada reported strong jobs growth for
September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a quarterly basis, the GDP in eurozone fell 0.2% in the second quarter of the
year, compared to a 0.3% drop in the previous quarter.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted monthly basis, German factory orders declined 1.3% in
August, compared to 0.3% growth recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
non-farm payroll employment rose by 114,000 in September, compared to an
upwardly revised increase of 142,000 in August. Meanwhile, the unemployment
rate eased to 7.8% in September from 8.1% recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
consumer credit jumped $18.2 billion in August, compared to a revised fall of
$2.45 billion recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a weekly basis, the US ECRI leading index’s annualized growth rate rose to 4.7%
from 3.7% rise recorded in the previous week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
US federal budget deficit shrank by $207 billion this fiscal year, but stayed
above the $1 trillion mark.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Japan’s leading index rose
to a seasonally adjusted 93.6 in August, from 93.0 in July.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-23041212353145193922012-09-26T09:11:00.000-04:002012-09-26T09:11:06.825-04:00September 26, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-nEvzLe1ExE8/UGL-cT-_KXI/AAAAAAAAAJ8/E0YMwdfu7rY/s1600/20120926+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://2.bp.blogspot.com/-nEvzLe1ExE8/UGL-cT-_KXI/AAAAAAAAAJ8/E0YMwdfu7rY/s320/20120926+Key+Global+Indices.png" width="315" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 5.5 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 16.4 points up, while
French CAC-40 futures are trading 8.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 18.0 points up.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 1.7% lower, at 8,935.7. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.2% or $0.15 lower at $91.22
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally lower against the USD at $1.6190,
slightly lower against the EUR at €1.2549, and marginally higher against the
JPY at ¥125.90.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 18.0 points up.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA shed 0.8% to end at 13,457.5. NASDAQ slipped 1.4% to settle at 3,117.7.
S&P 500 slumped 1.1% to close at 1,441.6.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks accelerated losses yesterday, as worries over global economic growth
coupled with Spain’s funding problem overshadowed upbeat reports on the US
housing market and consumer confidence. A Fed official criticized the central
bank’s recent stimulus efforts, further weighing on investor sentiment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Caterpillar
fell 4.3%, as it slashed its long-term profit forecasts, amid concerns over
capital expenditure by large commodity producers. Peer, Joy Global lost 5.5%,
weighed down by Caterpillar’s profit warning.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Advanced
Micro Devices slipped 5.2%, after FBR Capital Markets cut its price target on
the stock. Tesla Motors and Forward Air tumbled 9.8% and 11.4%, respectively,
as they lowered their third-quarter guidance.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Red
Hat dropped 4.3%, as its second- quarter profit trailed market expectations.
Apple lost 2.5%, as it sold out its initial inventories of the latest
smart-phone, raising concern about keeping up with the demand.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Yahoo edged up 0.2%, as it named Ken Goldman as its CFO, effective
from 22 October.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading lower this morning, tracking Wall Street overnight
and as a raft of Japanese stocks traded ex-dividend.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Toyota and Nissan Motor logged losses, as both the stocks traded
ex-dividend and amid reports that both would slash production in China. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, BYD tumbled as CLSA Asia Pacific Markets slashed its price target on
the stock, citing worsening outlook for its products. Hong Kong-listed Glencore
International lost values, as it revised its offer to boost its stake in
Kazakhstan's biggest zinc producer, Kazzinc. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, POSCO and Hyundai Steel recorded losses, amid mounting concerns
over sluggish global growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 1.7% lower, at 8,935.7. Hang Seng index is trading 0.9% down, at
20,521.7, while the Kospi index is trading 0.6% lower, at 1,980.3.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 5.5 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">AAR,<span style="mso-spacerun: yes;"> </span>a consortium formed by BP’s Russian
billionaire partners in TNK-BP are preparing an all-cash offer for the
company’s 50% holding in the Russian oil venture.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Schroders’
more than 50-year-old auditing relationship with PwC is at risk after the
company put its contract out to tender.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 16.4 points up, while
French CAC-40 futures are trading 8.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to “Handelsblatt”, ThyssenKrupp might have to offer incentives to possible
buyers of its loss-making steel mills in Brazil and the US. Chief Executive
Heinrich Hiesinger mulls to sell the mills separately for at least the book
value of €7.0 billion.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">S&P
has assigned a rating of ‘BB-’ to CGGVeritas with negative outlook, a day after
the group acquired the seismic data division of Dutch engineering company Fugro.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.2% or $0.15 lower at $91.22
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for November delivery dropped 0.6% or $0.56 to $91.37 per barrel,
after the Federal Reserve Bank of Philadelphia President Charles Plosser
criticized the Federal Reserve’s decision to launch QE3, and stated that the
central bank might have to raise short term interest rates "well
before" the current forecast of mid-2015.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
earlier in the session, crude was trading higher, on the back of ongoing
geopolitical tensions in the Middle East, and after the release of
better-than-expected housing and consumer confidence data from the US. Later in
the day, the American Petroleum Institute (API) reported that US crude
inventories had risen by 335,000 barrels to 361.8 million barrels<span style="mso-spacerun: yes;"> </span>in the week ended September 21, marking the
highest level since the week ended 24 August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.2% higher today, at $1,764.55 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up 0.1% or $1.80 at $1,766.40 per ounce
yesterday, supported by a positive US housing and consumer confidence data.
Gold futures were also boosted on a report from the IMF that indicated global
central banks have been adding to their gold reserves. However, gains were
capped as negative comments from the Philadelphia Fed president helped the
dollar trim some of its earlier losses weighing on the yellow metal.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures rose 0.9% or $72.0, to close at $8,240.00 /MT. Aluminium
3-month futures dropped 0.3% or $5.0, to close at $1,975.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally lower against the USD at $1.6190,
slightly lower against the EUR at €1.2549, and marginally higher against the
JPY at ¥125.90. Markets await CBI sales data in UK later in the day.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading slightly higher against the USD at $1.2901.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.1% higher against the JPY at ¥100.35. Earlier, the EUR was
trading lower against the JPY before reports speculated to show a drop in
Italian retail sales and European consumer confidence. The EUR also dropped on
speculation that the political clash in Spain might impede attempts to resolve
the region’s debt crisis.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
NZD is trading lower against the USD after New Zealand posted a
higher-than-expected trade deficit in the 12 months through August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD is trading lower against the JPY after Catalonia president, Artur Mas,
called for early elections as Spanish Prime Minister Mariano Rajoy struggles to
gain acceptance for austerity measures, sapping demand for riskier assets.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the USD closed higher against the EUR as comments from a US Fed official that
the central bank actions won’t boost economic growth overshadowed
better-than-expected data on US home prices and consumer confidence.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
GBP gained against the EUR after a report showed that mortgage approvals in the
UK rose unexpectedly in August, adding to signs the nation’s economy is
improving. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR closed lower against the JPY as Spain’s borrowing costs rose at a bill
auction adding to signs the eurozone debt crisis is worsening.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">UK
mortgage approvals rose unexpectedly to 30,533 in August, from 28,750 in July. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">GfK
forward-looking consumer sentiment index for Germany came in at 5.9 in October,
unchanged from September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">French
business confidence index remained at 90 in September, unchanged from August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Conference Board indicated that its consumer confidence index for the US jumped
to 70.3 in September from a revised 61.3 in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
S&P/Case-Shiller 20-City composite home price index for the US rose by a
seasonally adjusted 0.4% on a monthly basis in July compared to a 0.9% increase
in the previous month.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">According to Federal
Housing Finance Agency, on a monthly basis, US house prices rose 0.2% in July,
compared to a downwardly revised 0.6% increase in the previous month.</span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-92074803038395333102012-09-25T18:42:00.000-04:002012-09-25T18:42:10.298-04:00September 25, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://3.bp.blogspot.com/-ondz2Yu9ack/UGIy8x7ZjvI/AAAAAAAAAJo/giHCgbZZC8Y/s1600/20120925+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://3.bp.blogspot.com/-ondz2Yu9ack/UGIy8x7ZjvI/AAAAAAAAAJo/giHCgbZZC8Y/s320/20120925+Key+Global+Indices.png" width="312" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 11.2 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 26.0 points up, while
French CAC-40 futures are trading 9.3 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 30.0 points up.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.3% higher, at 9,095.3.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.4% or $0.34 higher at $92.27
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading slightly higher against the USD at $1.6232,
marginally higher against the EUR at €1.2539, and flat against the JPY at
¥126.35.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 30.0 points up.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA edged down 0.2% to end at 13,558.9. NASDAQ shed 0.6% to settle at 3,160.8.
S&P 500 slipped 0.2% to close at 1,456.9.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks closed lower yesterday, as a discord between France and Germany over a
timeframe for starting joint oversight of Europe’s banking sector soured market
sentiment. Additionally, dismal economic reports from Germany and China weighed
on investor sentiment. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Apple
dropped 1.3%, amid reports of a brawl at one of its main manufacturing plants
in China, raising concerns over its ability to meet escalating demand.
Caterpillar dropped 0.9%, after the company cut its forecast for 2015 earnings.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Dell
and Hewlett- Packard dropped 2.0% and 2.2%, respectively, as Evercore Partners
cut its price targets on both companies. Facebook slumped 9.1%, after Barron's
snubbed the stock, questioning the company’s value, amid persistent concerns
about its mobile growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Red Hat fell 2.9%, as its second-quarter earnings trailed
market expectations. Neptune Technologies & Bioresources lost 3.8%, as it
planned to offer an undisclosed number of shares.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
markets are trading mostly lower this morning, tracking overnight losses on
Wall Street, amid renewed concerns about global economic growth. However,
markets in Japan rose before a deadline on dividends.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Sharp rose after it submitted a restructuring plan to its creditors
which projected a slight profit next year compared to a loss this year. Toyota
Motors rose as it planned to expand its range of hybrid vehicles.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Standard Chartered fell, amid report that Tenmasek Holdings might
sell its stake in the lender.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Hotel Shilla fell amid expectations of poor third-quarter
earnings. LG Display lost values, after Apple reported debut sales for the
iPhone 5 that fell short of some analysts’ estimates.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.3% higher, at 9,095.3. Hang Seng index is trading 0.1% down,
at 20,674.5, while the Kospi index is trading 0.4% lower, at 1,995.9.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 11.2 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Financial Times reported that Singapore investment fund Temasek is seeking
potential buyers for its 18.0% stake in Standard Chartered, valued at around £6
billion.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Glencore
International entered into an agreement to boost its stake in Kazakhstan’s
largest integrated zinc producer, Kazzinc from 50.7% to 69.61% through the
purchase 18.9% stake worth $1.395 billion, from partner Verny Capital.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 26.0 points up, while
French CAC-40 futures are trading 9.3 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">German
automotive parts supplier Schaeffler AG is mulling to raise around €1.65
billion by selling a 10.38% stake in Continental AG thereby reducing its stake
to 49.9%.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Électricité
de France (EDF) has signed a contract with Areva to obtain more than 30 000
tons of natural uranium for the period from 2014 to 2035.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.4% or $0.34 higher at $92.27
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for November delivery declined 1.0% or $0.96 to $91.93 per barrel, as
disagreement among European officials over the handling of region’s debt crisis
and an unexpected decline in German business sentiment reignited worries over
Europe’s ailing economy and demand prospect for crude oil. Oil prices also
fell, as a stronger dollar reduced crude oil’s demand as an alternative
investment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.1% higher today, at $1,765.60 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled down 0.8% or $13.40 at $1,764.60 per ounce
yesterday, amid profit-booking following the recent rally in gold prices and as
the dollar strengthened against the euro amid renewed worries over eurozone
debt crisis.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures fell 1.4% or $112.5, to close at $8,168.00 /MT.
Aluminium 3-month futures dropped 2.2% or $45.0, to close at $1,980.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading slightly higher against the USD at $1.6232,
marginally higher against the EUR at €1.2539, and flat against the JPY at
¥126.35, ahead of the release of UK BBA mortgage approvals data for August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading slightly higher against the USD at $1.2946 and flat against the
JPY at ¥100.78. However, gains were capped, ahead of reports which are expected
to show that French business confidence worsened in September and consumer
sentiment in Germany and Italy remained stagnated. Investors are also expected
to keep close attention on a meeting between German Chancellor Angela Merkel
and ECB President Mario Draghi to get further direction.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the EUR ended lower against the USD, after a report revealed that German
business confidence unexpectedly dropped to the lowest level since March 2010
in September and on news of disagreement between German Chancellor Angela
Merkel and French President Francois Hollande over tighter integration of
Europe’s banking system.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
USD and JPY closed higher against the other major currencies, as intensifying
concerns over euro-zone debt crisis spurred investment in safe haven
currencies.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD and NZD ended lower against the USD, amid rising worries over economic
growth in China, their biggest trading partner. The AUD and NZD fell, as
China’s Economic Information Daily stated that downward pressure on the Asian
nation’s economy was increasing. Separately, a survey modelled on the US
Federal Reserve’s Beige Book showed China’s manufacturers and retailers are
less optimistic about sales than they were three months ago.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Markit
household finance index for the UK slipped to a reading of 38.4 in September,
from 38.9 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Ifo Business Climate Index for Germany eased to 101.4 in September from a
reading of 102.3 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
Chicago Fed’s national activity index fell to a reading of -0.87 in August,
down from a revised reading of -0.12 recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Dallas
Fed manufacturing business index rose to a reading of -0.9 in September,
following a reading of -1.6 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted yearly basis, the corporate services price index (CSPI)
in Japan dropped 0.3% in August, compared to a revised drop of 0.3% recorded in
July.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">On a same-store basis,
super market sales in Japan in August dropped 1.3% from a year ago, after
recording a drop of 4.9% in the previous month.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-88944714270967881492012-09-25T18:16:00.000-04:002012-09-25T18:22:00.001-04:00September 24, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-adxkDcbMzX8/UGIq3tEp-zI/AAAAAAAAAJY/2kVwuDCsA_k/s1600/20120924+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://2.bp.blogspot.com/-adxkDcbMzX8/UGIq3tEp-zI/AAAAAAAAAJY/2kVwuDCsA_k/s320/20120924+Key+Global+Indices.png" width="313" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 33.8 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 7.7 points down, while
French CAC-40 futures are trading 2.2 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 12.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.7% lower, at 9,050.4. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.8% or $0.76 lower at $92.13
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6207, 0.2%
higher against the EUR at €1.2529, and 0.3% lower against the JPY at ¥ 126.60.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 12.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, DJIA edged down 0.1% to end at 13,579.5. NASDAQ ticked up 0.1% to
settle at 3,180.0. S&P 500 slipped marginally to close at 1,460.2.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks pared earlier gains and closed mostly lower on Friday, as mounting
worries over floundering global economy overshadowed speculation about a
probable Spanish bail-out.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Coca-Cola
fell 1.6%, after SunTrust Banks announced it would sell its stake worth $ 1.2
billion in the company. FedEx dropped 1.0%, as investors continued to fret over
its weak quarterly results.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">Research
In Motion tumbled 6.5%, after its service outage in Europe, the Middle East and
Africa lasted several hours. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
KB Home gained 16.4%, as it swung to a surprise third-quarter profit. Apple
edged up 0.2%, as the latest iPhone 5 hit stores around the globe, while mobile
carriers, supporting the new iPhone, Verizon Wireless, AT&T and Sprint
Nextel advanced between 0.3% and 3.9%.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, MetLife jumped 2.7% as it amended terms to sell its online
banking operation to GE Capital Retail Bank. Discover Financial edged up 0.4%,
despite its settlement of around $200 million to cardholders over US phone
marketing.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading lower this morning, amid an impasse in discussions to
resolve the eurozone crisis as France and Germany disagreed over a timeframe to
introduce joint oversight of the region’s banking sector.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Komatsu and Hitachi Construction Machinery paced losses, as their US
peer, Caterpillar reported growth in sales for June-August period slightly down
from the increase posted for the May-July period.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, China Eastern Airlines fell, after it announced a temporarily delay
in introduction of a new route between Shanghai and Sendai.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Hyundai Securities and Hana Financial paced declines, amid
dwindling risk appetite amongst traders. Samsung Electronics lost value after
the successful launch of the latest smart-phone from Apple.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.7% lower, at 9,050.4. Hang Seng index is trading 0.3% down, at
20,675.8, while the Kospi index is trading 0.5% lower, at 1,991.7.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 33.8 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Sunday Times reported that BP, which is mulling to acquire a stake in Russian
entity Rosneft, would appoint a prominent Russian to its board of directors as
part of a new commercial alliance with the Kremlin.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to a Thomson Reuters estimate, financial advisers on the proposed BAE-EADS
merger could be in line to earn about $76 million.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 7.7 points down, while
French CAC-40 futures are trading 2.2 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Daimler
is expected to extend the contract of Chief Executive Dieter Zetsche by three
years to 2016. It also plans to extend the contracts of trucks CEO Andreas
Renschler and development chief Thomas Weber.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Department of Justice (DoJ) announced that Lucent Technologies World Services,
an Alcatel-Lucent subsidiary, has agreed to pay the US $4.2 million to settle
claims allegations linked to its contracts in Iraq.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.8% or $0.76 lower at $92.13
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, crude oil for November delivery gained 0.5% or $0.47 to $92.89 per
barrel, capping sharp declines recorded earlier in the week, on rising optimism
that Spain was moving closer to seeking a sovereign-debt bailout package and as
the dollar weakened against the euro, increasing the demand for the commodities
as an alternative investment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.8% lower today, at $1,759.75 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up 0.4% or $7.80 at $1,778.00 per ounce on
Friday, as the dollar weakened against the major currencies, increasing the
demand for the precious metal as a hedge against inflation.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, copper 3-month futures gained 0.7% or $60.5, to close at $8,280.50 /MT.
Aluminium 3-month futures traded flat to close at $2,025.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6207, 0.2%
higher against the EUR at €1.2529, and 0.3% lower against the JPY at ¥126.60.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.4% lower against the USD at $1.2937 and 0.5% lower against the
JPY at ¥101.05, on news that Germany and France have disagreed on a timeframe
to centralize European banking supervision and ahead of a report which is
expected to show German business confidence stayed near the lowest in more than
two years in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD is trading lower against the USD, on concerns that slowing Asian economies
and uncertainty over eurozone debt crisis might hamper Australia's economic
growth rate later this year.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, the EUR ended higher against the USD, amid rising speculation that
Spain might soon request financial aid to boost its faltering economy.
According to a report, Spain is considering freezing pensions and speeding up a
planned rise in the retirement age as it attempts to cut spending and meet
conditions of an expected international aid package.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
GBP closed higher against the USD, following better-than-expected UK public
sector borrowing numbers for August and as demand for riskier currency
increased amid optimism over Spain’s stance on the bailout package.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
USD ended lower against the EUR and other major counterparts, as demand for the
safe haven currency decreased amid mounting optimism that central banks
stimulus would revive the global economic growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Knight
Frank/Markit's house price sentiment index in the UK rose to a reading of 46.8
in September, compared to a reading of 44.5 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">UK
public sector net borrowing (PSNB) stood at £14.4 billion in August, the biggest
deficit for the month since records began.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
European Central Bank (ECB) Executive Board member, Benoit Coeure stated that,
policy makers at the ECB are unlikely to cut interest rates further, given the
high inflation rate and improvement in Euro-area's economic outlook.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
ECB Executive Board member, Peter Praet in an opinion piece in German Finance
Ministry's monthly report wrote that, inflation expectations in the eurozone
are firmly anchored.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Conference Board Leading Economic Index for Germany edged up 0.1% to a reading
of 102.6 in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">For the week ended 14
September 2012, the ECRI Leading US Index rose 2.7% to 125.4, from 124.7 in the
previous week.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Source: <a href="http://www.etxcapital.com/">www.etxcapital.com</a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-17528521261126008662012-09-21T07:08:00.001-04:002012-09-21T07:10:27.400-04:00September 21, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-aW2QUQsyO4o/UFxKrhT3LoI/AAAAAAAAAJI/eaJkN8eaj_c/s1600/20120921+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://4.bp.blogspot.com/-aW2QUQsyO4o/UFxKrhT3LoI/AAAAAAAAAJI/eaJkN8eaj_c/s320/20120921+Key+Global+Indices.png" width="314" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 13.6 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 10.0 points up, while
French CAC-40 futures are trading 10.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 34.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.6% higher, at 9,142.3. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.6% or $0.60 higher at $93.02
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.6231, flat
against the EUR at €1.2503, and 0.1% higher against the JPY at ¥127.00.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 34.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA edged up 0.1% to settle at 13,596.9. NASDAQ inched 0.2% lower to end at
3,176.0. S&P 500 dropped 0.1% to close at 1,460.3.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
markets closed mostly lower yesterday, as weak economic reports from China,
Japan, Europe and the US rattled investors sentiment, increasing concern about
global economic growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Citigroup,
Goldman Sachs and Morgan Stanley declined between 1.1% and 2.1%, as UBS downgraded
its rating on these stocks to “Neutral” from “Buy”. Bank of America fell 1.1%,
as it mulled to cut about 16,000 jobs by the year end.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Norfolk
Southern slumped 9.1%, after it projected third-quarter earnings that trailed
market expectations. Green Mountain Coffee Roasters slumped 9.6%, as Starbucks
revealed its own line of single-serve coffees and electric brewers,
intensifying competition. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
Exxon Mobil gained 1.1%, as it agreed to acquire Denbury Resources Bakken oil
shale assets for $1.6 billion. ConAgra Foods rose 6.2%, as it raised its
first-quarter dividend and boosted its profit forecast.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, McDonald's edged up 0.1%, as it increased its quarterly
dividend by 10%. Michael Kors added 3.6%, as it raised its second-quarter and
full-year earnings and revenue guidance.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading higher this morning, tracking positive cues from the
Dow Jones Industrial Average, as recent moves by global central banks continued
to help sentiment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Sharp gained value, amid report that it is in talks with Intel for
capital tie-up. Carriers of the iPhone, Softbank and KDDI advanced, as iPhone 5
hit shelves in Japan.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, AIA traded higher, following a managerial appointment, while CNOOC
gained values, as Nexen approved its takeover bid.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Samsung Electronics, that gets 9% of its sales from Apple, gained
value as the new iPhone went on sale.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.6% higher, at 9,142.3. Hang Seng index is trading 0.8% up, at
20,764.5, while the Kospi index is trading 0.5% higher, at 2,000.0.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 13.6 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
UK lawmakers have demanded G4S to waive its $92 million management fee for its
failure to provide thousands of security guards for the Olympic Games.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Daily Telegraph reported that JJB sports was “hesitant” to report it had been
incorrectly applying VAT to children’s clothing resulting in a £5 million tax
liability.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 10.0 points up, while
French CAC-40 futures are trading 10.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to “Süddeutsche Zeitung”, Deutsche Bank would cut thousands of jobs in Germany,
with around 543 jobs being scrapped in Bonn and Frankfurt.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Vinci
Energies, one of the five divisions of the construction group Vinci, has
announced the acquisition of the Indian company Vasundara, which specializes in
industrial automation and robotic solutions.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for November delivery is trading 0.6% or $0.60 higher at $93.02
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for October delivery fell 0.1% or $0.11 to $91.87 per barrel, as
disappointing preliminary manufacturing data from Europe and China sparked
worries over slowing global economic growth and demand outlook for crude oil.
The contract expired at the end of floor trading. The most actively traded
November delivery contract gained $0.12 to settle at $92.42 per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
later in the trading session oil prices pared some losses, after data showed
that manufacturing activity in the Philadelphia-region improved
more-than-expected in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.1% higher today, at $1,771.75 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled down 0.1% or $1.50 at $1,770.20 per ounce
yesterday, as the dollar strengthened against the euro decreasing the demand
for the yellow metal as a hedge against inflation.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures fell 1.3% or $110.5, to close at $8,220.00 /MT.
Aluminium 3-month futures dropped 1.5% or $30.0, to close at $2,025.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.6231, flat
against the EUR at €1.2503, and 0.1% higher against the JPY at ¥127.00.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading marginally higher against the USD at $1.2980 and 0.1% higher
against the JPY at ¥101.57, ahead of the meeting between Spanish Prime Minister
Mariano Rajoy and his Italian counterpart Mario Monti in Rome. However, gains
were capped, ahead of data due next week which is forecasted to show German
business sentiment remained near the lowest in more than two years in
September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the EUR ended lower against the USD and other major currencies, after data
revealed that eurozone composite PMI fell unexpectedly to a three-year low in
September. The EUR also fell, as Spanish bond yields rose for the first time in
three days.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif";">The
USD and the JPY closed higher against other currencies, as dismal economic data
from China and the eurozone reignited worries about global economic growth,
spurring demand for the safe haven assets. A separate report revealed that US
jobless claims dropped less-than-expected last week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD ended lower against the USD, after a report indicated that manufacturing
activity in China declined for an eleventh month in September, dampening
prospects for the nation’s resource exports.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
NZD closed higher against the USD, after data showed that New Zealand’s
economic growth slowed less-than-estimated in the second quarter of 2012 on the
back of stronger farm output and construction.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a month-on-month basis, retail sales in the UK dropped 0.2% in August, compared
to a 0.3% rise recorded in July. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
composite Purchasing Managers’ Index (PMI) in the eurozone fell to a reading of
45.9 in September, from 46.3 in the previous month.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
consumer confidence index in the eurozone fell to a reading of -25.9 in
September, from -24.6 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
preliminary manufacturing PMI in the US stood at a reading of 51.5 in
September, unchanged from the previous month.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">For
the week ended 15 September 2012, initial jobless claims in the US fell to
382,000, from the previous week's revised figure of 385,000. However, for the
week ended 8 September 2012, continuing claims in the US fell to 3.272 million.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Conference Board Leading Economic Index for the US dipped 0.1% in August,
compared to a revised 0.5% increase recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">On a yearly basis, machine
tool orders in Japan dropped 2.7% in August, compared to 6.7% decrease recorded
in the previous month.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a><span style="font-size: x-small;"> </span></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-43140918664518080152012-09-20T08:05:00.000-04:002012-09-20T08:05:24.237-04:00September 20, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-Rq3fWt1lRj4/UFsGbFmc2UI/AAAAAAAAAI4/w8RH0BL5650/s1600/20120920+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://4.bp.blogspot.com/-Rq3fWt1lRj4/UFsGbFmc2UI/AAAAAAAAAI4/w8RH0BL5650/s320/20120920+Key+Global+Indices.png" width="313" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 20.2 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 15.6 points down, while
French CAC-40 futures are trading 10.8 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 25.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.7% lower, at 9,167.8. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.3% or $0.25 lower at $91.73
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.1% lower against the USD at $1.6215, 0.2%
higher against the EUR at €1.2457, and 0.2% lower against the JPY at ¥127.00.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 25.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA edged up 0.1% to settle at 13,578.0. NASDAQ inched 0.2% higher to end at
3,182.6. S&P 500 rose 0.1% to close at 1,461.1.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks ended modestly higher yesterday, as existing US homes sales rose in
August to a two-year high and as the Bank of Japan stepped up its bond buying
programme. However, lower-than-expected growth in housing starts and a dip in
building permits for August capped gains.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">General
Mills rose 1.8%, after its first quarter earnings surpassed market expectation
and as it reiterated its full-year guidance. Lennar, Toll Brothers, DR Horton,
Pulte and Beazer Homes gained between 1.9% and 6.2%, as existing home sales
jumped 7.8% in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Groupon
surged 13.9%, as it launched a mobile payment service, allowing merchants to
accept cards using an iPhone or iPod Touch. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Bed Bath & Beyond declined 4.4%, as its fiscal
second-quarter results missed market expectation, while rail operator, Norfolk
Southern fell 5.1%, after it warned that its third-quarter earnings would miss
market expectation.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading lower this morning, amid concerns about the global
economy, after Japan's exports fell for the third straight month in August and
following lackluster manufacturing data from China.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Kyocera slipped in early trade following weak Japanese exports data. All
Nippon Airways lost value, after Nomura Securities cut its price target on the
stock.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, China Grand Forestry Green Resources traded lower after Tongdao Dong
Autonomous County People's Government cancelled five of the forest right
certifications on the forests in Hunan province.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Samsung Electronics lost values, after a federal judge refused to
rescind a court order banning Samsung Electronics from selling its Galaxy Tab
10.1 computer in the US. SK Innovation and S-Oil traded lower following a drop
in crude oil prices.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.7% lower, at 9,167.8. Hang Seng index is trading 0.5% down, at
20,738.4, while the Kospi index is trading 0.6% lower, at 1,996.4.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 20.2 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Norish
announced that through its subsidiary Roebuck Investments Limited, it has
agreed to acquire Townview Foods Limited, a meat trading business, for about
£8.25 million.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Wm
Morrison Supermarkets announced that it has purchased through Jefferies
International Limited 250,000 ordinary shares at an average price of 293.242
pence per share.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 20.2 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Norish
announced that through its subsidiary Roebuck Investments Limited, it has
agreed to acquire Townview Foods Limited, a meat trading business, for about
£8.25 million.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">WM
Morrison Supermarkets announced that it has purchased through Jefferies
International Limited 250,000 ordinary shares at an average price of 293.242 pence
per share .<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.3% or $0.25 lower at $91.73
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for October delivery dipped 3.5% or $3.31 to close at $91.98 per
barrel, after the Energy Information Administration (EIA) report showed that US
crude oil stockpiles rose by a higher-than-expected 8.5 million barrels last
week, increasing concern about demand outlook.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Crude
oil prices were under pressure after Saudi Arabia’s oil minister pledged to
release more crude oil into the market in a bid to moderate high oil prices.
Additionally, an EIA survey showed Gulf Coast plants have fully recovered from
disruptions caused by Hurricane Isaac in late August further weighing on oil
prices.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.2% lower today, at $1,767.70 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up $0.50 at $1,771.70 per ounce yesterday, after
the Bank of Japan announced that it would boost to its asset-purchase programs
and expectations China would follow global central banks in easing monetary
policy to boost its slowing economy. However, gains were capped on profit
booking by investors.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures gained 1.0% or $80.5, to close at $8,330.50 /MT.
Aluminium 3-month futures rose 1.5% or $30.0, to close at $2,055.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.1% lower against the USD at $1.6215, 0.2%
higher against the EUR at €1.2457, and 0.2% lower against the JPY at ¥127.00
ahead of data that is forecasted to show UK retail sales contracted in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.3% lower against the USD at $1.3016, before Spain auctions
3-year and 10-year bonds today.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.4% lower against the JPY at ¥101.95, before reports today that
are forecasted to show European services and manufacturing contracted in
September, adding to signs the region’s debt crisis is weighing on economic
growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY is trading higher against the USD, amid speculation the Bank of Japan’s
additional asset purchase program would do little to spur economic growth as
geopolitical tensions over disputed islands with China and weak global demand
weigh on exports. Japan’s exports fell 5.8% in August from a year earlier, the
third straight decline.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
NZD is trading higher against all of its major counterparts after data showed
the nation’s second-quarter economic growth surpassed market expectations.
However, gains were capped after the nation’s annual current-account deficit
widened to the most in three years.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the EUR ended higher against the USD and the GBP. The EUR was trading lower in
the earlier session after German officials sought to reject proposals for a
European banking union and a supervisory role for the European Central Bank.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY ended higher against the USD even after the Bank of Japan announced an
expansion in its asset-purchase program.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Bank
of England (BoE) policymakers unanimously decided to maintain quantitative
easing at £375.0 billion and the interest rate unchanged at 0.50%.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted monthly basis, construction output in the eurozone
slipped 0.3% in July, following a 0.6% decline recorded in June.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted basis, the housing starts in the US rose 2.3% to an
annual rate of 750,000 in August, compared to a downwardly revised rate of
733,000 recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Existing
home sales in the US jumped 7.8% to an annual rate of 4.82 million in August,
from 4.47 million recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted basis, new building permits in the US fell 1.0% to an
annual rate of 803,000 in August, compared to the revised rate of 811,000
reported in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">China HSBC flash PMI rose
to 47.8 from 47.6 in September, even though output dipped to its lowest level
in 10 months.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-60818400645682574782012-09-20T08:02:00.001-04:002012-09-20T08:02:36.447-04:00September 19, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-eI7v9LXwaO0/UFsFk-AHSlI/AAAAAAAAAIw/l4JzBICUe1g/s1600/20120919+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://1.bp.blogspot.com/-eI7v9LXwaO0/UFsFk-AHSlI/AAAAAAAAAIw/l4JzBICUe1g/s320/20120919+Key+Global+Indices.png" width="313" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 4.7 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 15.3 points up, while
French CAC-40 futures are trading 15.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 28.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.2% higher, at 9,141.7. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.3% or $0.29 higher at $95.58
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading slightly lower against the USD at $1.6242,
marginally lower against the EUR at €1.2449, and 0.2% lower against the JPY at
¥127.68.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 28.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA edged up 0.1% to settle at 13,564.6. NASDAQ slipped marginally to end at
3,177.8. S&P 500 fell 0.1% to close at 1,459.3.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
markets closed mostly lower yesterday, as a profit warning by FedEx and
intensifying concerns about the European debt-crisis overshadowed data that
showed home-builder sentiment improved in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">FedEx
dropped 3.1%, as it cut its profit estimates for its fiscal year 2013, amid
fall in first-quarter profit. Peer, UPS edged down 0.1%, as FedEx’s guidance
weighed on the stock. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Advanced
Micro Devices declined 9.7%, after it announced the departure of its CFO,
Thomas Seifert. Office furniture manufacture, HNI tumbled 15.1%, as it lowered
its third-quarter earnings and revenue guidance.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Clearwire
slumped 10.4%, after Morgan Stanley issued a downbeat note on the stock, citing
liquidity issues. Bed Bath & Beyond dropped 3.4%, following a downgrade to
“Hold” from “Buy” at Oppenheimer.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, railroad companies, CSX, Norfolk Southern and Union Pacific
dipped between 0.5% and 0.7%, as UBS downgraded its rating on these stocks to
“Neutral” from “Buy”. Approach Resources fell 1.2%, as it intends to offer 5
million shares as it seeks to raise funds.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading mostly higher this morning, amid hopes of monetary
stimulus from the Bank of Japan and after the governor of the People’s Bank of
China pledged to maintain stability of its monetary policies.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Nissan Motor advanced, as it resumed operations in China. Japan Airlines
opened higher, on its Tokyo trading debut.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Fosun International added value, after it received official approval
from the China Insurance Regulatory Commission for its proposed joint venture
with The Prudential Insurance Company of America. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Samsung Electronics paced losses, amid report the firm mulled to
cut investment in the semiconductor business by half next year.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.2% higher, at 9,141.7. Hang Seng index is trading 0.3% up, at
20,661.6, while the Kospi index is trading 0.5% lower, at 1,994.7.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 4.7 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Financial Times reported that BP is in advanced negotiations to sell its Texas
City refinery to Marathon Petroleum which could fetch the company about $2.5
billion.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Lonmin
platinum mine workers in South Africa have ended their strike and would return
to work in return for pay rises of between 11-22% and additional one-off
bonuses.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 15.3 points up, while
French CAC-40 futures are trading 15.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Siemens
plans to lay off about 615 workers in Iowa, Kansas, and Florida in part due to
changing market conditions and uncertainty about a tax credit for new wind
turbine installations.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Zodiac
Aerospace reported 25% increase in revenues to €3.438 billion for the year
ended 31 August on the back of strong performance at its airplane cabin
interior segment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.3% or $0.29 higher at $95.58
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for October delivery dropped 1.4% or $1.33 to $95.29 per barrel,
after a Persian Gulf official stated that Saudi Arabia is working to lower oil
prices and is producing around 10 million barrels per day. Oil prices also
fell, as signs of a slowdown in the global economic growth raised worries over
demand outlook.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Later
in the day, the American Petroleum Institute reported that crude oil
inventories increased 2.43 million barrels to 361.5 million last week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.1% lower today, at $1,766.90 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up 0.1% or $0.60 at $1,771.20 per ounce
yesterday, with the metal struggling to find clear direction as investors took
a breather following the recent rally.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">However,
gains were capped, as the dollar rose against the major currencies, decreasing
the demand for the precious metal as a hedge against inflation.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures fell 0.8% or $62.0, to close at $8,250.00 /MT. Aluminium
3-month futures dropped 3.1% or $65.0, to close at $2,025.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading slightly lower against the USD at $1.6242,
marginally lower against the EUR at €1.2449, and 0.2% lower against the JPY at
¥127.68. Investors look ahead to the Bank of England meeting minutes.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading marginally higher against the USD at $1.3047, as investors
remain cautious ahead of Spain’s bond auctions scheduled tomorrow.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.2% lower against the JPY at ¥102.56, ahead of a report
tomorrow that might show services and manufacturing industries shrank in the
eurozone for an eighth month.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD is trading lower against most of major currencies, ahead of reports that
might add to signs global manufacturing is slowing, damping prospects for the
South Pacific nation’s resource exports. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the USD ended higher against the EUR and most of other major counterparts,
investors remain skeptical about the effectiveness of the US Fed’s decision to
embark on QE3 and Spain’s stance on aid package, increasing demand for safe
haven assets. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR ended lower against the USD and the GBP, amid concerns that Spain would
delay seeking a bailout and after data revealed that German investor sentiment
remained negative in September. A separate report revealed that UK consumer
prices rose in line with market estimates in August. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY closed lower against the USD, amid speculation the Bank of Japan could take
steps to weaken the local currency at its meeting this week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
AUD closed lower against most of its major counterparts, as the Reserve Bank of
Australia meeting minutes spurred speculation the central bank might cut
interest rates if necessary.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
annual rate of inflation in the UK eased to 2.5% in August from 2.6% in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
UK DCLG house price index rose 2.0% in July, following a 2.3% increase recorded
in the previous month<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a year-on-year basis, the retail price index in the UK rose to a seasonally
adjusted 2.9% in August, compared to a 3.2% increase recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">ZEW’s
economic expectations index in Germany rose to a reading of -18.2 in September
from a reading of -25.5 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">ZEW’s
economic expectations index in the eurozone improved to -3.8 in September from
a reading of -21.2 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
NAHBs’ housing market index for the US rose to a reading of 40.0 in September
from a reading of 37.0 recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">On a seasonally adjusted
basis, the current account deficit in the US narrowed to $117.4 billion in 2Q
FY2012, from a revised deficit of $133.6 billion in the previous quarter.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com1tag:blogger.com,1999:blog-7127590416111879619.post-29513078021874517852012-09-18T10:20:00.000-04:002012-09-18T10:20:04.234-04:00September 18, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-xfdmjzQ90JY/UFiCuuHNhcI/AAAAAAAAAHs/IhjYlg5dAGk/s1600/20120918+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://1.bp.blogspot.com/-xfdmjzQ90JY/UFiCuuHNhcI/AAAAAAAAAHs/IhjYlg5dAGk/s320/20120918+Key+Global+Indices.png" width="316" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 16.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 7.2 points up, while
French CAC-40 futures are trading 2.8 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 2.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.1% higher, at 9,173.5.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.5% or $0.48 higher at $97.10
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.6249, 0.1% higher against the EUR at €1.2399, and 0.1% lower against the JPY
at ¥127.70.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 2.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA edged down 0.3% to settle at 13,553.1. NASDAQ inched 0.2% lower to close
at 3,178.7. S&P 500 ticked down 0.3% to end at 1,461.2.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks eased yesterday, snapping a four-day rally, after factory activity in
the New York area dropped to its lowest level in nearly 3-1/2 years and as
eurozone finance ministers failed to agree on terms of bailout requests and
role of the European Central Bank at a meeting in Cyprus last week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">United
States Steel and AK Steel Holding slipped 4.7% and 5.8%, respectively, while
Cliffs Natural Resources slipped 7.0%, as JP Morgan downgraded its rating on
these stocks to “Neutral” from “Overweight”.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Netflix
dropped 5.8%, after Macquarie initiated coverage on the stock with an
“Underperform” rating.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">General
Electric edged down 0.3%, after the National Transportation Safety Board
recommended inspection for all new Boeing 787 and 747-8 aircraft with General
Electric engines. Boeing dropped 1.9%.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Apple edged up 0.3%, as it stated iPhone 5 orders were more
than double the previous record of 1 million iPhones ordered on the first day.
OCZ Technology Group slumped 8.5%, following a management restructuring.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
markets are trading mostly lower this morning, amid concerns about a slowdown
in the US and fading hopes of a resolution to the eurozone debt crisis. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Sony and Olympus both traded higher, amid report that the former is in
final talks to invest in the latter. Secom added value, after the Nikkei
business daily reported that Tokyo Electric Power is close to selling a
majority stake in its data centre unit to Secom for around ¥50 billion.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Samsonite International fell after CVC Capital and RBS sold off
additional stake in the company.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Hyundai Marine & Fire Insurance lost value, amid concern
Typhoon Sanba had caused significant property damage.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 is trading 0.1% higher, at 9,173.5. Hang Seng index is trading 0.1% down,
at 20,642.8, while the Kospi index is trading 0.1% lower, at 2,001.0.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 16.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Financial Times reported that EasyJet, in a hope to profit from the
government’s cost-cutting drive, has inked a deal with the House of Commons’
travel agency that would allow MPs and their staff to book journeys on the
budget airline. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Compass Group, through Morgan Stanley Securities Limited, repurchased 325,000
ordinary shares at a price of 710.01p per share.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 7.2 points up, while
French CAC-40 futures are trading 2.8 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Daimler
truck Chief Andreas Renschler forecasted strong growth in the number of trucks
on the roads in the future as road freight transportation triples by the year
2050.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
French Energy and Economics Ministry announced that the price of gas would be
hiked by 2% on 1st October, rejecting GDF Suez's request for a 7% hike.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.5% or $0.48 higher at $97.10
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for October delivery dropped 2.4% or $2.38 to $96.62 per barrel.<span style="mso-spacerun: yes;"> </span>Worries over demand outlook, after a report
revealed that manufacturing in the New York region contracted more than
estimated in September and as the dollar recovered against the euro, reducing
the demand for oil as an alternative investment.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Prices
plummeted in the final hours of trading with some analysts citing the
expiration of the October WTI option contracts as the reason for the plunge.
Traders also speculate of an erroneous trade or a computer algorithm gone awry.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.2% lower today, at $1,757.25 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled down 0.1% or $2.10 at $1,770.60 per ounce
yesterday, as investors decided to book profit following a strong rally last
week following the US Federal Reserve’s latest bond-buying plan.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures fell 1.1% or $91.0, to close at $8,312.00 /MT. Aluminium
3-month futures dropped 4.2% or $85.0, to close at $2,090.00 /MT. Copper
futures dropped as weak US manufacturing data forced some investors to cash in
gains following the metal’s rally last week.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.6249, 0.1% higher against the EUR at €1.2399, and 0.1% lower against the JPY
at ¥127.70, ahead of the release of UK consumer prices and retail prices data
due later in the day.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading slightly lower against the USD at $1.3105, ahead of data which
is speculated to show that German investor confidence dropped to its lowest
level in the year in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.1% lower against the JPY at ¥102.99. However, demand for the
JPY was limited, as investors cautiously await the outcome of BoJ monetary
policy meeting, amid mounting speculation that the BoJ would expand monetary
stimulus to stem the currency’s strength that affects exporters.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the USD closed higher against the EUR, ending its last week’s downturn
following US Federal Reserve’s program for a third round of quantitative
easing. The EUR declined against the USD, as investors await further clarity on
Spain’s measures to tackle its debt crisis.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY ended lower against the USD and the EUR, amid rising speculation of fresh
monetary easing by the Bank of Japan and as tensions between Japan and China
over disputed islands intensified.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
CAD ended lower against the USD, after a report indicated that Canadian
existing home sales dropped the most in more than two years in August and as
lower commodity prices decreased the demand for the commodity linked currency.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
WON ended lower against the USD, after the Korea Development Institute lowered
its economic growth forecast for 2012 to 2.5% from 3.6% projected in May.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted basis, the eurozone current account surplus narrowed to
€9.7 billion in July, from a revised surplus of €14.3 billion recorded in June.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted basis, the eurozone trade surplus narrowed to €7.90
billion in July, from a revised €9.30 billion surplus in June.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Federal Reserve Bank of New York reported that its general business conditions
index fell to a reading of -10.41 in September from -5.85 in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
its quarterly review, the Bank of International Settlements (BIS) stated that
the volatility of risky assets remained “extraordinarily subdued”, given the
concerns about the ongoing euro area debt crisis and the poor outlook for
economic growth.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">The European Central Bank
governing council member Panicos Demetriades stated that direct
recapitalization of Cypriot banks through the European Stability Mechanism
(ESM) should start at the beginning of next year.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-81595152298225611932012-09-17T09:55:00.000-04:002012-09-17T09:55:17.551-04:00September 17, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://3.bp.blogspot.com/-SI2kxGbrug8/UFcrpPwTT5I/AAAAAAAAAHc/0H4IUUlwmIg/s1600/20120917+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://3.bp.blogspot.com/-SI2kxGbrug8/UFcrpPwTT5I/AAAAAAAAAHc/0H4IUUlwmIg/s320/20120917+Key+Global+Indices.png" width="314" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 22.5 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 22.4 points down, while
French CAC-40 futures are trading 19.8 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 45.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Markets
in Japan are closed on account of a public holiday. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.2% or $0.16 higher at $99.16
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally higher against the USD at
$1.6220, 0.1% lower against the EUR at €1.2359, and 0.1% lower against the JPY
at ¥126.87.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 45.0 points down.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, DJIA added 0.4% to settle at 13,593.4. NASDAQ gained 0.9% to close at
3,184.0. S&P 500 advanced 0.4% to end at 1,466.0.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
stocks extended for a fourth straight session on Friday, as the Federal
Reserve’s launch of an aggressive mortgage-backed bond-buying program continued
to buoy market sentiment overshadowing tepid retail sales and industrial
production data.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Apple
gained 1.2%, after its pre-orders for its iPhone 5 suggested strong demand.
Exxon Mobil added 1.2%, as oil-prices hit a four-month high, while Alcoa
advanced 2.2%, tracking a rise in aluminium prices.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">JPMorgan
Chase, Goldman Sachs, Citigroup and Bank of America advanced between 0.4% and
1.6%, as risk appetite improved amongst investors. Caterpillar advanced 2.8%,
on expectations of strong demand from China as the country boosts its
infrastructure spending and as it sought to trim its workforce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Electronic Arts shed 1.7%, as Zynga filed a countersuit
against the company. Genworth Financial slipped 1.1%, as it received subpoena
in a mortgage related suit.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
markets are trading on a mixed note this morning, as the US Federal Reserve’s
plan to boost the US economy lent support to commodity firms, while losses for
exporters weighed on the South Korean market.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Zijin Mining Group traded higher, after gold futures settled near a
seven-month high in New York on Friday. Sunshine Oilsands paced gains, after it
revealed its share buy-back plan. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, Samsung Electronics fell after a judge at the International Trade
Commission on Friday ruled that Apple did not violate patents owned by the
company. Korea Aerospace Industries lost value, after its shareholders mulled
to find potential buyers for their 1 trillion won stake in the company.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Markets
in Japan are closed on account of a public holiday. Hang Seng index is trading
0.1% down, at 20,605.4, while the Kospi index is trading 0.4% lower, at 2,000.2.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 22.5 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to Financial Times, a former senior US official has warned that BAE Systems
would have to agree to more rigorous US security arrangements if its merger
with EADS is to pass muster of regulators in Washington.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Lonmin
has rejected a pay rise offer last week insisting that it could not afford to
meet the higher wage demanded by the workers, but promised to improve talks
with them though a<span style="mso-spacerun: yes;"> </span>new approach in
labour relations.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 22.4 points down, while
French CAC-40 futures are trading 19.8 points lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Deutsche
Bahn Chief Executive Rüdiger Grube has sought information from Thyssenkrupp
about its role in a rail track cartel within the next two weeks. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
National Bank of Greece (NBG) announced on Friday that it had submitted an
updated bid to buy Emporiki, the Greek unit of the French bank Credit Agricole.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.2% or $0.16 higher at $99.16
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, crude oil for October delivery gained 0.7% or $0.69 to $99.00 per
barrel, amid continued optimism over demand outlook following the US Federal
Reserve’s plan to introduce a third round of quantitative easing to stimulate
the faltering economy.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Oil
prices also rose as the dollar weakened against the major currencies and as
unrest in the Middle East and North Africa sparked worry over supply
disruptions.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.2% higher today, at $1,773.70 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up $0.60 at $1,772.70 per ounce on Friday, as
investors continued to cheer the US Federal Reserve’s latest plan of buying
mortgage securities for an unlimited period.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, copper 3-month futures surged 4.1% or $327.5, to close at $8,403.00
/MT. Aluminium 3-month futures gained 2.8% or $55.0, to close at $2,005.00 /MT.
Copper prices rose on expectation that stimulus measures in the US, Europe and
China would benefit demand for commodities.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading marginally lower against the USD at $1.6220,
0.1% lower against the EUR at €1.2359, and 0.1% lower against the JPY at
¥126.87.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading slightly higher against the USD at $1.3124. The EUR is trading
marginally lower against the JPY at ¥102.65. A German report tomorrow is
expected to show investor confidence remained weak in the region’s biggest
economy in September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY is trading higher against most of it major counterparts, as the death of
Japan’s ambassador to China highlighted escalating tensions between Asia’s
biggest economies over the ownership of disputed islands. The Bank of Japan
would start a two-day policy meeting tomorrow.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
Friday, the USD ended lower against the EUR and most of other major
counterparts, as an announcement of fresh round of monetary stimulus by the US
Federal Reserve continued to debase the local currency and dampened its demand
as a safe haven. On economic front, reports revealed that US consumer prices
and retail sales rose more-than-expected in August. However, a separate report
indicated that US industrial production fell unexpectedly in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
USD closed higher against the JPY, as investors speculated that the Bank of
Japan, which holds a policy meeting 19 September, is likely to take strong
actions to stem the yen’s rise either by its own quantitative easing or
intervening in currency markets directly.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR rose, after data showed eurozone CPI rose in line with market expectations
in August and eurozone employment numbers remained unchanged in the second
quarter of 2012.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
UK Rightmove house price index, on a month-on-month basis, fell 0.6% in
September, compared to a 2.4% fall recorded in August.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a seasonally adjusted annual basis, consumer price index (CPI) in eurozone rose
2.6% in August, from the same rate of increase recorded in the previous
month.<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a quarterly basis, number of people employed in the eurozone remained unchanged
in second quarter of 2012.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Reuters/Michigan
consumer sentiment index in the US climbed to a preliminary reading of 79.2 in
September.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a month-on-month basis, industrial production in the US dropped 1.2% in August,
following a revised 0.5% increase recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
a monthly basis, CPI in the US rose 0.6% in August and compared to a flat
reading recorded in the previous month.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">On a seasonally adjusted
monthly basis, retail sales in the US rose 0.9% in August and compared to a
revised 0.6% growth in July.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
ABELIAN Consulting Serviceshttp://www.blogger.com/profile/11077848442007293116noreply@blogger.com0tag:blogger.com,1999:blog-7127590416111879619.post-64499939677492009212012-09-14T07:09:00.001-04:002012-09-14T07:09:50.913-04:00September 14, 2012 Financial Market Summary<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-rD-iP7e5wqc/UFMQWLTMltI/AAAAAAAAAHM/gDEE5stiU2s/s1600/20120914+Key+Global+Indices.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://1.bp.blogspot.com/-rD-iP7e5wqc/UFMQWLTMltI/AAAAAAAAAHM/gDEE5stiU2s/s320/20120914+Key+Global+Indices.png" width="316" /></a></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 19.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 19.3 points up, while
French CAC-40 futures are trading 12.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 31.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 index is trading 1.5% higher, at 9,133.4. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.6% or $0.62 higher at $98.93
per barrel. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% higher against the USD at $1.6178,
slightly higher against the EUR at €1.2437, and 0.1% higher against the JPY at
¥125.55.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">US Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, DJIA futures are trading 31.0 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
DJIA surged 1.6% to settle at 13,539.9. NASDAQ spurred 1.3% to end at 3,155.8.
S&P 500 soared 1.6% to close at 1,460.0.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">US
markets closed higher yesterday, with the S&P 500 climbing to highest level
in nearly five years, as the US Federal Reserve announced that it would buy
mortgage-backed securities to bolster the economy.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Bank
of America and JPMorgan Chase gained 4.8% and 3.7%, respectively, as risk
appetite increased amongst investors following the Federal Open Market Committee
decision.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Apple
rallied 2.0%, after several brokerages boosted their price target on the stock.
Equinix added 7.5%, as its board approved plans to convert the company into a
real estate investment trust.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">DSW
advanced 2.3%, as it declared a special dividend of $2 a share, in a bid to
boost shareholder returns. Pall Corp climbed 8.0%, as its fourth-quarter result
surpassed market expectation.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">After
the closing bell, Analogic jumped 11.2%, as its Q4 earnings came in well ahead
of market expectations, while Western Digital shed 1.6%, as it forecasted Q3
earnings that were lower than market expectations.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Asian Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Asian
stock markets are trading higher this morning, after the US Federal Reserve
decided launch another round of bond buying programme and vowed to maintain interest
rates near zero until mid-2015.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Japan, Nintendo added values, after it unveiled its first new home console in
six years, while Hitachi rallied after it decided to boost its dividend. Nomura
Holdings traded higher after it restructured the management team at its US
equities division.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Hong Kong, Sun Hung Kai Properties logged gains, after it posted record profit
for the full-year ended June. China Eastern Airlines added values, after it
completed the issuance of short-term commercial paper.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
South Korea, POSCO advanced, after it decided to restructure its subsidiaries
to develop its core business capabilities.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Nikkei
225 index is trading 1.5% higher, at 9,133.4. Hang Seng index is trading 2.4%
up, at 20,535.5, while the Kospi index is trading 2.6% higher, at 2,001.2.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">UK Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, FTSE 100 futures are trading 19.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">According
to Financial times, BAE Systems stated it would walk away from discussions with
EADS unless the combined entity was allowed to operate as a normal company
without political intervention.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">New
World Resources announced that it has appointed Mr. Jan Fabian as CEO and
Chairman of the Board of its Czech coal subsidiary OKD effective 1 January 2013.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">European Market
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0500 BST today, German DAX Xetra 30 futures are trading 19.3 points up, while
French CAC-40 futures are trading 12.4 points higher.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Allianz
stated that its CFO, Oliver Bäte, would trade responsibilities with Dieter
Wemmer, board member responsible for overseeing insurance operations in Western
and Southern Europe, by January 1, 2013.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">South
Sudan would split a massive oil block largely held by Total into three parts,
giving one part to the French firm and the others to two firms, as reported by
the Petrol and Mining minister, Elizabeth James Bol.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Commodities</span></b><span style="font-family: "Georgia","serif";"><o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
Asia, crude oil for October delivery is trading 0.6% or $0.62 higher at $98.93
per barrel.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
crude oil for October delivery advanced 1.3% or $1.30 to $98.31 per barrel,
after the US Federal Reserve opted for a third round of quantitative easing to
bolster the economic recovery.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Oil
prices also rose, on news that Middle East unrest had spread to Yemen raising
concern over crude oil supply disruption.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for immediate delivery is trading 0.3% higher today, at $1,772.77 per ounce.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
for December delivery settled up 2.2% or $38.40 at $1,772.10 per ounce
yesterday, after the US Federal Reserve revealed a plan to expand its holdings
of long-term securities with open-ended purchases of $40 billion of mortgage
debt each month to boost the US economy.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Gold
prices also rose, as dismal US initial jobless claims data spurred demand for
the precious metal as a safe haven asset.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
copper 3-month futures fell 0.5% or $40.0, to close at $8,075.50 /MT. Aluminium
3-month futures dropped 0.3% or $5.0, to close at $1,950.00 /MT.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Currencies<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">At
0400 BST today, the GBP is trading 0.2% higher against the USD at $1.6178,
slightly higher against the EUR at €1.2437, and 0.1% higher against the JPY at
¥125.55.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.1% higher against the USD at $1.3007, ahead of the release of
eurozone consumer prices and employment change data due later in the day and as
the USD continued its downturn following the announcement of additional
quantitative easing by the US Fed yesterday. Euro-area Finance Ministers and
central-bank officials would hold a two-day policy meeting starting today in
Cyprus to discuss the next steps in tackling the region’s debt crisis.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
EUR is trading 0.1% higher against the JPY at ¥100.97, as most Asian equity
markets traded higher, increasing the demand for high yielding assets.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
JPY is trading lower against the USD, after Japan’s Finance Minister Jun Azumi
signaled his willingness to intervene the currency market to weaken the local
currency.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Yesterday,
the USD ended lower against the all major counterparts, after the US Federal
Reserve announced its plans to buy $40.0 billion of agency mortgage-backed
securities each month until the outlook for the labour market improves. The Fed
also stated that it would probably hold the federal funds rate near zero “at
least through mid-2015.” Dismal US initial jobless claims data also pushed the
USD lower.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Georgia","serif"; mso-effects-shadow-align: none; mso-effects-shadow-alpha: 65.0%; mso-effects-shadow-angledirection: 5400000; mso-effects-shadow-anglekx: 0; mso-effects-shadow-angleky: 0; mso-effects-shadow-color: black; mso-effects-shadow-dpidistance: 3.4pt; mso-effects-shadow-dpiradius: 5.5pt; mso-effects-shadow-pctsx: 0%; mso-effects-shadow-pctsy: 0%; mso-style-textoutline-outlinestyle-align: center; mso-style-textoutline-outlinestyle-compound: simple; mso-style-textoutline-outlinestyle-dash: solid; mso-style-textoutline-outlinestyle-dpiwidth: .15pt; mso-style-textoutline-outlinestyle-join: round; mso-style-textoutline-outlinestyle-linecap: flat; mso-style-textoutline-outlinestyle-pctmiterlimit: 0%; mso-style-textoutline-type: none;">Macroeconomic
Snapshot<o:p></o:p></span></b></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">In
its monthly bulletin released, the ECB stated that the debt-to-GDP ratio would
be sustainable and fall at some point for both Spain and Italy, if the
countries successfully achieve their fiscal consolidation targets. <o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">Germany's
IfW think tank has trimmed its forecast for economic growth to 0.8% this year,
marginally below the prior estimate of 0.9%.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">The
Federal Reserve has forecasted 2.5% to 3.0% annual US GDP growth for 2013, up
from 2.2% to 2.8% growth predicted in June.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">On
month-on-month basis, the producer price index (PPI) in the US rose 1.7% in
August, compared to a 0.3% increase recorded in July.<o:p></o:p></span></div>
<div style="text-align: justify;">
</div>
<div class="MsoNormal" style="margin: 0in 0in 10pt; text-align: justify;">
<span style="font-family: "Georgia","serif";">For
the week ended 8 September 2012, initial jobless claims in the US rose to
382,000, from the previous week's revised figure of 367,000.<o:p></o:p></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">The US Federal Reserve
(Fed) took aggressive new steps to stimulate the sluggish US economy,
announcing its plans to buy $40 billion of agency mortgage-backed securities
each month.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"><span style="font-size: x-small;">Source: </span><a href="http://www.etxcapital.com/"><span style="font-size: x-small;">www.etxcapital.com</span></a></span></div>
<div style="text-align: justify;">
<span style="font-family: "Georgia","serif"; line-height: 115%; mso-ansi-language: EN-CARRIBEAN; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;"></span> </div>
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