|
(Interfax News Agency Via Thomson Dialog NewsEdge)MOSCOW. June 5 (Interfax) - The Russian stock market consolidated on Monday without any fresh ideas and prices were mixed for blue chips on low trading.Benchmark stocks changed 0.3%-3.2% on the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX). The RTS index grew 0.49% to 1.364.33.Demand for Russian ADRs fell noticeably in London and New York on Monday and prices dropped around 1%. along with negative trends on Asian markets. cooled the bullish mood.Rostelecom (RTS: RTKM) posted gains of 5.8% on the MICEX and9.6%on the RTS as it played on its announcement last week that itplans toboost service revenue six-fold to 34.737 billion rubles.Tatneft (RTS: TATN) rose 3.2% on the RTS and 2.6% on theMICEX.Sberbank (RTS: SBER) fell 0.4% on the MICEX. Mosenergo (RTS:MSNG)dropped 1%. Lukoil (RTS: LKOH) was down 0.3% and MMC NorilskNickel(RTS: GMKN) fell 1.1%.Gazprom (RTS: GAZP) could not break past 300 rubles ashare. Thegas giant slipped 0.3% to 298 rubles a share and its ADRs fell0.5% to$44.76 in London.Oil prices are rising after Tehran said that crude suppliesfromthe Middle East could come under serious threat if the U.S.invadesIran. The bullish market is also gaining strength on favorable U.S. economic data Friday that lowered the probability that the Federal Reserve will continue to increase its key rate. which was good news for emerging markets.The market was relatively weak and trading was calm on Monday. said Roman Rodin of Trust (RTS: HBTT) investment bank."On the one hand. Friday's U.S. economic statistics are not bad for the stock market. however U.S. investors did not support the general optimism. which is why markets closed indistinctly in Asia on Monday." he told Interfax. "There aren't any clear trends on the Russian market also. although growing oil is most definitely lending support." Rodin said.
"Gazprom is trading around 300 rubles. which is a serious resistance level. and Rostelecom is growing on news of revenue growth." he said. "There are still a large number of Western buy orders in this sector. although it's hard to say how long they will last and the growth is mostly speculative." Rodin said."I think that Rostelecom is already overheated and a correction is very near." he said.The trade balance for April and import and export prices in May that will be published on Friday could have an influence on the markets in light of the Fed's upcoming decision on interest rates. Rodin said."The market is trading up thanks to oil and growing metals prices." said Vladimir Savov of Uralsib (RTS: USBN)."If the indices hold on at current prices. then we could saythatthe period of sales is over and speculators will get a signalto buyfurther." he told Interfax."I think that there will be attempts for growth over the next week or two." Savov said. "The CPI index for May - to be released next week - will be important for the market before the Fed's meeting at the end of the month." he said.From the technical point of view. as the RTS indexstrengthens at1.530 points this is an indication of a possible furthergrowth inprices. said Dmitry Roenko of Olma.Bank of Moscow (RTS: MMBM) experts said the actions by the Fed will only be clear at the end of June when it holds its next meeting."Until then it's likely that high volatility will remain on emerging markets. and investors will still closely follow U.S. macroeconomic news." the experts said. "No important statistics on the U.S. economy are expected this week. It looks like inflation statistics expected at the end of the week will give a final answer to the question of whether rates will be hiked or not." the experts said.There likely will not be a steady trend on the Russian stock market this summer. said Deutsche UFG analysts."On the contrary. the next few months should be a period ofstrongvolatility around 1.500 points on the RTS index -until theprospects for the world economy for 2007 become clear along with the prospects for emerging markets." Deutsche UFG said in a report."A positive close last week could fuel an inflow of monetary resources that will give support to the market for another few days. However. we still think that investors should use the current growth to close their positions in Russian stocks before another surge of high volatility." the experts said.Among second-tier stocks. CenterTelecom (RTS: ESMO) soared 14.3% on the MICEX. Aeroflot (RTS: AFLT) grew 4.8% and the Bank of Moscow rose 4.7%.Northwest Telecom (RTS: SPTL) common shares fell 5.9% and its preferreds were down 2.7%. Sakhalinmorneftegaz (RTS: SKGZ) by 3.5% and Purneftegaz (RTS: PFGS) by 2.9%.RTS classic market trading was $37.581 million. and trading volume on the MICEX stock section was 44.4 billion rubles. of which more than 17.6 billion rubles was for Gazprom. rm RTS$#&: AFLT. ABI: 802.11n Wireless Chipsets Are Not Perfect. AppExchange Picks Up TARGUSinfo For CRM Platform ? Java and Pocket PC Support to ' ? O2 UK Extends Their Relationship with Intervoice ? Interwise Connects Schering-Plough's Worldwide Employees ? TCS Intros MSAG-Based Routing for VoIP 911 Calls ? Mobile Commerce Platform Provider VOCEL Announces Changes to Board of ' ? Google Earth and Google Maps API Get Upgrades ? CSI Releases Virtual Observer 3.0 for Call Center Call '
? Temasek Polytechnic Gains Innova'? TV-phone wars recruit forces? Computer firm moves to new '? RENESAS DESIGN VIET NAM SELECTS '? PEERME LAUNCHES VOIP SOFTWARE FO'? Internet pioneers: VOIP wiretapp'? Telephony@Work purchase to exten'? Mittal opposes entry cost for '
INTERNET TELEPHONY Conference & EXPOJanuary 23-26. 2007 - Fort Lauderdale-Broward County Convention Center Fort Lauderdale.
stock investing
Acting Hong Kong Chief Executive Rafael Hui said on Wednesday that Hong Kong stock market has been very buoyant this year with daily turnover at a historical high.
Delivering a speech at the opening ceremony of the 31st Annual Conference of the International Organization of Securities Commissions (IOSCO). Hui said the daily turnover in the Hong Kong stock market was about 30 billion HK dollars (3.85 billion U.S. dollars) on an average since the beginning of this year. some 70 percent above that of the previous year.
He said. the Hong Kong Stock Exchange has helped raise about 21 billion U.S. dollars last year through initial public offerings ( IPOs). As a result. Hong Kong attained the No.1 position in terms of IPO fund raising in Asia and 3rd in the world last year.
He said. Asia is no stranger to volatile and destabilizing capital flows. Since 1998. Asian economies have added a total of more than 1.7 trillion U.S dollars in reserves. run huge current account surpluses. cleaned up the banking sectors and strengthened banking and securities regions.
He said he believed that Hong Kong has learnt its lesson well from the Asia Crisis. He said. the Hong Kong Securities and Futures Commission (SFC) has signed 36 bilateral or multilateral cooperation arrangements with regulatory bodies worldwide.
He said. this is a time for greater vigilance on the part of regulators and market participants. adding financial institutions should be vigilant in managing their risks and securities regulators should be vigilant of possible systemic implications on market liquidity and price volatility arising from the unwinding of large positions taken by hedge funds and other institutional investors. particularly in the more concentrated segments of the market.
Hui said. to improve the quality of information for risk assessment. there is a need for better access to data. especially those relating to financial derivatives and to hedge fund activities. more stress testing to ensure the resilience of the market players. and increased regulatory cooperation across jurisdictions.
He is confident that IOSCO. in collaboration with the international bodies. will continue its work and effort in reducing market vulnerabilities and enhancing resilience of the financial system.
- Roundup: H shares become most popular ones in HK stock market- Roundup: HK stock market cap reaches record high of 10 trillion HK dollars- 2005 HK stocks turnover hits record 4.44 trillion HK dollars- 327 mainland companies listed in Hong Kong
stock investing
Like most other Asian markets. the local bourse suffered a sharp setback on Wednesday. falling to a six-month low. The 2.67 percent drop had widely been expected. as global markets plunged by 3 to 4 percent the previous session. while Seoul halted trading for Memorial Day. It is still alarming to see the price index helplessly collapse to under 1.300 just because the top U.S. central banker hinted at interest rate hikes. Despite the synchronization of global markets. the impact was too fast and too big.
Federal Reserve Board Chairman Ben Bernanke's shift of policy focus from growth to stability is understandable to prevent stagflation of the U.S. economy. As the phrase ``Bernanke shock' implies. the change was too abrupt. eroding market players' trust in the leadership of the Fed chief. who succeeded the fabulous Alan Greenspan four months ago. Korea is just one of the countries that has had to reconfirm the U.S. economic weight on global markets. But should this country have felt it so much more acutely than others?
Especially problematic was the nosedive of the technology-heavy Kosdaq. which sank twice as steeply as did the main exchange. Unlike the Korea Stock Exchange. the Kosdaq lacks such market-stabilizing devices as programmed trading and futures or derivative products. However. the Kosdaq's problem. is that of the entire stock market in that institutional investors are not properly performing their buffering role. Often. these institutions seek short-term gains more than the individuals do.
Two more factors add to the vulnerability of the domestic financial industry _ the government's inconsistent policies and some financial institutions' outdated. opaque business practices. A case in point is the recent massive imposition of penalties on some lending institutions. including Korea's largest lender. because of unfair interest charges. The Roh Moo-hyun government's economic policy in favor of redistribution over growth is also a damper on the overall economy and the financial markets.
Against this backdrop. the Bank of Korea raised its benchmark interest rate by 25 basis points to 4.25 percent. It would have been difficult to freeze the key money rate. considering the expected resumption of increases in the U.S. federal funds rate and the increasingly uniform interest trends worldwide. It was also a timely move to gradually eliminate bubbles from the domestic real estate market. The remaining task for the central bank and government is to fine-tune other macroeconomic policies to bolster the country's shaky recovery.
There is a clear limit to protecting the local bourse from global financial jitters. But individual investors need to judge the market more by the economy's fundamentals than sentimental whims. while institutions should faithfully play the role of cushioning overseas impacts. Although rectifying economic inequality is important. the government for its part ought to implement more market-friendly policies so that the latter can behave in a more rational manner.
stock investing
Ad Information Forbes Wireless RSS Reprints/Permissions Subscriber Services ? Conditions and Notices
Stock quotes are delayed at least 15 minutes for Nasdaq. at least 20 minutes for NYSE/AMEX. U.S. indexes are delayed at least 15 minutes with the exception of Nasdaq. Dow Jones Industrial Average and S&P 500 which are 2 minutes delayed.
Investment Newsletter - Financial Newsletters - Stock Newsletter Polls & Discussions Financial Tools - Stock Trading Tool - Investing Tool - Planning Tools Special Reports Video News - Financial Video Reports
stock investing
Russia plans to expand presence on Venezuelan arms marketUkrainian village put in quarantine over bird flu scareRussian minister concerned by Georgia buying arms in East EuropeRussia's Putin names 4 main problems for economy Putin says foreign investment welcome in infrastructure projects
MOSCOW. June 7 (RIA Novosti) - Russia's stock market is unlikely this year to keep up the record high growth rates it posted in 2005. the head of the country's financial markets regulator said Wednesday.
After long stagnation. and passing the symbolic 1.000-points level on the Russian Trading System (RTS) index. In early 2006. another important benchmark level.
Oleg Vyugin. the head of the Federal Financial Markets Service. said Russian companies could still up their market value further. even though developing economies. including the Russian market. were unlikely in the next few years to develop at recent record rates.
Vyugin said Russia's financial sector needed effective infrastructure to enable companies to make quick settlements or complete initial public offerings within the time limits used at trading floors in developed countries.
stock investing
The stock market broke the psychological 2200-point bottom of the Philippine Stock Exchange Index (PSEI) yesterday closing at 2157.68. which itself was a drop of 3.1 percent from Tuesday. The stock market has reached its lowest in two months.
By coincidence. Atty. Francis Lim. president of the PSE. and Francisco Liboro. president of the Association of Securities Analysts of the Philippines. have been conducting a media barrage. They are saying the stock market is. on the third year of a six-year boom that began in 2003.
"I'm confident the index will hit 2800 before the end of the year. that implies an upswing of 30 percent in share prices. He thinks the index will climb further to 3500 by the end of 2008. a price gain of another 25 percent. Thus. "a 25-percent rise per year over the next two years is conservative." What triggered the rally?
PSE CEO Francis Lim and Liboro cite four reasons: the economic fundamentals. fiscal management by the government. and robust earnings growth of corporations. Equally important is relative political stability. "President Arroyo is now on solid ground." says Press Secretary Ignacio Bunye.
The economy grew by 5.5 percent in the first quarter 2006. higher than the 5.3-percent forecast. NEDA says the expansion was driven by a rebound in agriculture. a pickup in industry. particularly manufacturing and construction. and a continued upsurge in the financial sector.
More importantly. the healthy growth happened in the face of serious challenges. the escalating crude oil prices. which translated to rates of inflation we have not seen since 1998 when inflation averaged 8.6 percent. Other challenges include the still tight fiscal situation; the imposition of the 12-percent EVAT; and the political conflict which peaked in February with a reported coup attempt.
At the same time. the government promises to balance the budget as early as 2008. something that has never been done before without artful window-dressing. And indeed. corporate profits have been surging.
Combined earnings of PSE listed companies rose 24 percent to P191.26 billion in 2005. Pilipino Telephone 38 percent to P13.45 billion. SM Investments Corp. 18 percent to P10.4 billion. First Philippine Holdings 38 percent to P9.7 billion. and Aboitiz Equity 19 percent to P3.2 billion. These are among the country's 20 most profitable companies.
In the first quarter. SM Investments increased net income by 83 percent to P3.77 billion. Robinsons Land 17 percent to P410 million. Universal Robina 10.2 percent to P702 million. Megaworld 39 percent to P604 million. and RCBC 239 percent to P252 million.
Why are companies doing so well? Consumers keep spending. government keeps spending. particularly for infrastructure. and agricultural harvest has been good. thanks to sufficient rainfall. If farmers have good income. they spend more. In the first quarter. manufacturing growth exceeded expectations. particularly the food and beverage sector.
Text back your reaction to this article using your Globe. cellphone by sending REACT to 2366 or send an email to newsfeedback@abs-cbn Please refrain from offensive language. slanderous statementsand commercial messages. Discuss this article on our message boards
What is important in this discussion is that in any society there has to be a real and effective voice for labour which should be focused. and of course should act in a responsible way.
During January to May this year. the Ayala-owned Integrated Microelectronics. Inc. (IMI) registered with the Philippine Economic Zone Authority 13 projects costing P1 billion. It will make RF gold finder handheld devices. electronic door locks. portable email terminals. broadband routers. internet radio modules. power supply for amplifier base stations. automotive multifunction switches. car stereo main boards. super slim multidrives and even do repairs of electronic data storage.
stock investing
June 8 (Reuters) - Finance Minister Sadakazu Tanigaki said on Thursday that movements in the Tokyo stock market seemed to be directionless. but declines in share prices do not mean the economy is weak.
"According to market participants. the Tokyo stock market is directionless at the moment. but declined to comment on the level of share prices.
Even though stocks have fallen sharply in recent weeks and Wall Street thinks the stock market is in a funk. individual investors who focus on picking stocks for the long-term are still poised for growth.
stock investing
Ever wonder why the stock market often tanks when there's good economic news reported? That doesn't seem to make sense. but it's all related to interest rates. Ben Bernanke (Alan Greenspan's successor) and his buddies at the Federal Reserve set interest rates. trying to keep inflation at bay and promote a healthy economic environment. When positive economic news is released. such as lower unemployment figures. or growing national productivity. the specter of possible inflation comes out to haunt the market. Economies growing too quickly can spur inflation. with too much currency in the marketplace leading to the weakening of the dollar and rising prices.
To stem inflation. the Fed notches up interest rates to decrease the amount of borrowing and slow down the economy. Rising interest rates renders bonds more attractive. because they offer fixed incomes. Investors pull money back from stocks. which are hit doubly with the threat of shrinking corporate earnings and with the attractiveness of growing bond yields.
Got that? Maybe reread it once or twice. It's a bit complicated and can hurt your head until it sinks in. And know that the Fed has been regularly and gradually hiking rates for a while now -- and that trend may continue for a while.
Here's the Fool scoop on the Federal Reserve when it was led by Alan Greenspan. a Fool take on the Greenspan-Bernanke transition. and info from the horse's mouth itself. the Fed.
To learn more about investing Foolishly. visit our Fool's School. Or check out some of our inexpensive and well-regarded How-to Guides. which come with money-back guarantees.
stock investing
(Interfax News Agency Via Thomson Dialog NewsEdge)MOSCOW. June 5 (Interfax) - The Russian stock market posted gain Monday morning on growing oil prices. but began consolidating by afternoon as it looked for new ideas.By 12:30 p.m. Moscow time. benchmark stocks were mixed around 0.1%- 3.8% on the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX). The RTS index grew 0.46% to 1.362.64.Demand for Russian ADRs fell noticeably when London trading opened on Monday and prices did not grow more than 1%.Rostelecom (RTS: RTKM) grew 3.1% on the MICEX and 3.8% on the RTS. Tatneft (RTS: TATN) rose 2.1% on the RTS and 1.2% on the MICEX.Sberbank (RTS: SBER) was down 1.6% and Mosenergo (RTS: MSNG) fell 0.8%.Gazprom (RTS: GAZP) shares are trading under 300 rubles a share. The gas giant grew 0.2% to 299.6 rubles a share and its ADRs were at $45 in London.Oil prices are rising after Tehran said that crude suppliesfromthe Middle East could come under serious threat if the U.S.invadesIran. The bullish market is also gaining strength on favorable U.S. economic data Friday that lowered the probability that the Federal Reserve will continue to increase its key rate. which was good news for emerging markets.Despite the returning optimism on world markets because of the expected pause in interest rate hikes. it is not very likely that the Russian market will return to its levels before the correction anytime soon. said Vadim Smirnov of Alemar.
"This will be complicated by technical factors and the speculative weather last week." he said. "The market's dependence on estimates made by investors about the current macroeconomic situation is fueling unsteady and unequal growth. Prices could still drop on fear caused by uncertainty over economic news when the experience of the May correction is still fresh. The strong resistance level is 1. since this is where the line of support of the previous trend is that was broken by the recent correction." Smirnov said.Bank of Moscow (RTS: MMBM) experts said the actions by the Fed will only be clear at the end of June when it holds its next meeting."Until then it's likely that high volatility will remain on emerging markets. and investors will still closely follow U.S. macroeconomic news." the experts said. "No important statistics on the U.S. economy are expected this week. It looks like inflation statistics expected at the end of the week will give a final answer to the question of whether rates will be hiked or not." the experts said.There likely will not be a steady trend on the Russian stock market this summer. said Deutsche UFG analysts."On the contrary. the next few months should be a period ofstrongvolatility around 1.500 points on the RTS index -until theprospects for the world economy for 2007 become clear along with the prospects for emerging markets." Deutsche UFG said in a report."A positive close last week could fuel an inflow of monetary resources that will give support to the market for another few days. However. we still think that investors should use the current growth to close their positions in Russian stocks before another surge of high volatility." the experts said.Among second-tier stocks. the Bank of Moscow rose 2% and Dalenergo (RTS: DALE) preferreds continued to post gains. RTS classic market trading was $14.5 million. and trading volume on the MICEX stock section was 17.9 billion rubles. of which about 7 billion rubles was for Gazprom. rm RTS$#&: AFLT. ABI: 802.11n Wireless Chipsets Are Not Perfect. AppExchange Picks Up TARGUSinfo For CRM Platform ? Java and Pocket PC Support to ' ? O2 UK Extends Their Relationship with Intervoice ? Interwise Connects Schering-Plough's Worldwide Employees ? TCS Intros MSAG-Based Routing for VoIP 911 Calls ? Mobile Commerce Platform Provider VOCEL Announces Changes to Board of ' ? Google Earth and Google Maps API Get Upgrades ? CSI Releases Virtual Observer 3.0 for Call Center Call '
? Temasek Polytechnic Gains Innova'? TV-phone wars recruit forces? Computer firm moves to new '? RENESAS DESIGN VIET NAM SELECTS '? PEERME LAUNCHES VOIP SOFTWARE FO'? Internet pioneers: VOIP wiretapp'? Telephony@Work purchase to exten'? Mittal opposes entry cost for '
INTERNET TELEPHONY Conference & EXPOJanuary 23-26. 2007 - Fort Lauderdale-Broward County Convention Center Fort Lauderdale.
stock investing
|