Reports Archive

US stock market, economy and companies update (February 09, 2012)

With the Greece bailout cliffhanger continuing in Europe, investors are in no mood to dive into risk or send equity indices much higher. As of writing, it appears that the Greek government has managed to strike a deal to pass all the required austerity measures, after contentious, down-to-the-wire negotiations (at least one government minister has resigned over the deal and nation-wide strikes are in the works). Now euro zone finance ministers, including Greece's Venizelos, are meeting in Brussels to hash out the release of the second bailout package. Venizelos also hinted that a deal with Greece's private creditors (PSI) had been reached. In the US, initial jobless claims took another big leg down, further reinforcing that the jobs picture is getting better.

European stock market, economy and companies update (February 09, 2012)

European shares traded in positive territory ahead of ECB's and BoE's rate decision due later in the NY morning. Traders expect both banks to maintain an accommodative policy. Few analysts expect ECB to cut its interest rate from the 1% level, but amid the Greek turmoil, the central bank is expected to hint at future rate cuts. On the other hand, BoE may increase its Asset Purchase Target.

Indian stock market daily closing report (February 09, 2012)

The Indian markets gained more than 0.5% today. After the lackluster trading throughout the day, the markets bounced into positive territory in late noon trade, tracking positive European cues. The European markets gained in opening session today on the expectation of positive outcome from Greek reform talks. Buying is observed in banking stocks in today’s trading session.

Asian stock market, economy and companies update (February 09, 2012)

Markets were weaker overall today with a little move to the upside after Greek officials literally worked through the night, with only the pension issue remaining unresolved (expected to be solved by the Troika later today). Talks between Papademos and Troika now revolve around filling €625M gap; PASOK will not accept lower pensions. After a later meeting it was said that Greece now has about 15 days to reduce pension liabilities by €300M. Under bailout agreement Greece will be given 1 extra year to 2015 to return to primary surplus of €4.5B; Government must specify additional austerity measures worth €10B in June for 2013-2015 period.

Malaysia stock market and companies daily report (February 09, 2012)

Axiata Group had planned for a RM4 billion to RM5 billion capital expenditure (CAPEX) in its current financial year ending 31 December 2012 to upgrade their existing infrastructure to support data services (especially in Indonesia). Malaysian Resources Corporation (MRC), a property development and investment company, had recently announcement a 13.6% increase in revenues from RM1.1 billion to RM1.2 billion, with net profit registering RM91.9 million, an increase of 24.6% from RM73.8 million for the financial year ending 31 December 2011.

Singapore stock market and companies daily report (Biosensors, Raffles Education) (February 09, 2012)

Singapore¡¯s tourism industry delivered a stellar performance last year, registering significant growth in both visitor arrivals and tourism receipts, said Singapore Tourism Board (STB) in a statement. Tourism industry revenue jumped 17 percent to a record $22.2 billion ¨C meeting STB¡¯s target of $22 billion-24 billion. Biosensors International Group¡¯s 9M12 earnings jumped more than 13-fold to US$337 million in tandem with a 82 percent jump in revenue to US$204 million, attributable to full quarter consolidation of the results of JW Medical Systems from 3Q12, higher product revenue & licensing revenue as well as gain from the remeasurement of interest in the joint venture company.

Indian stock market daily morning report (February 09, 2012, Thursday)

Indian markets edged higher amid volatility in the second half of the trading session and closed on positive note yesterday helped by a rally in software stocks including Tata Consultancy Services and Infosys Technologies and gains in index heavyweight Reliance Industries. Sustained buying of Indian stocks by foreign institutional investors (FIIs) also boosted investors’ sentiment. Foreign funds have invested $3.6bn in local equities so far this year, according to data from the Securities and Exchange Board of India. Reports pointed to some progress in talks to save Greece from a default and Fed chief Bernanke readiness for more stimulus, if the need arises, led the global markets rally. Except pharma and bank, all sectoral indices closed on positive note with capital goods, IT, real estate and metal stocks were major gainers. TCS ended 1.8% higher as the company formed a joint venture with Mitsubishi Corp to set up a near-shore delivery centre in Japan. Jubilant Foodworks, which runs the Dominos Pizza chain in the country, gained 2.8% after it posted a better-thanexpected 55% jump in quarterly profit on robust demand and store launches. Thomas Cook rose 20% to its daily upper circuit limit after its UK-based parent said it will look to sell a majority stake in the Indian travel operator. However, Bharti Airtel bucked the trend and ended 6.5% lower, after posting its eighth straight quarter of falling profits as it was hit by higher tax and interest costs.

Indian stock market and companies daily report (February 09, 2012, Thursday)

The domestic markets are expected to open in the red tracking flat to negative opening in most of the Asian markets. Indian markets posted a volatile trading session and closed in green on Wednesday amidst optimism towards the developments in Greece’s debt restructuring deal. Globally, however U.S. and European stocks remained choppy and ended flat, as the markets waited for additional news from Greece. The Greek government, which is close to announce another round of spending cuts in order to secure bailout funds is also in negotiations with private creditors on a voluntary debt reduction.

Australian stock market and companies daily report (February 09, 2012)

US stocks drifted for another day, finishing a smidgeon higher as investors awaited an agreement among Greek politicians on reforms ahead of the country's second international bailout. The Dow Jones Industrial Average inched 5.75 points, or 0.04%, to 12,883.95, a fresh high that stretches back to May 19, 2008. The Standard & Poor's 500-stock index gained 2.91 points, or 0.22%, at 1,349.96, while the Nasdaq Composite rose 11.78 points, or 0.41%, to 2,915.86.

US stock market daily report (February 08, 2012, Wednesday)

According to a survey by Lake Research Partners done for the National Association of Home Builders and presented Wednesday at the International Builders Show, 78% of Americans identified as likely to vote in the 2012 presidential election said that owning their own home was one of the most important things in their lives, 74% agreed and 43% strongly agreed that owning a home was worth it even with all the ups and downs of the housing market. This all despite the beating that home prices have taken over the last five years, Americans are still optimistic about their own housing situation. Of those polled, one-third said housing was one of the best investments you could make, ignoring the 30%-plus drop in home prices nationally since the peak of the housing boom in 2006. The only better investment Americans can think of is a retirement account such as an IRA or 401(k). Current homeowners reportedly were not discouraged by the pitfalls of paying for and maintaining a house, 96% said they were happy with their decision to own a home and 85% said they were very happy with that decision. “The desire for homeownership long-term is still there,” said Frank Nothaft, chief economist for mortgage agency Freddie Mac, even if economic and job uncertainty is keeping people from jumping into the market today. Obama late in January unveiled a new mortgage-refinancing plan designed to help distressed homeowners. This type of assistance is what respondents to the survey said is appropriate for the government to do in support of housing. Two-thirds said it was OK for the government to ensure the availability of 30-year mortgages and 75% said it was all right to use the tax code to support homeownership. Sixty-five percent of those surveyed said they would be less likely to vote for a candidate who supported the position of a proposal to cut the mortgage-interest tax deduction as part of the deficit-reduction debate. Sounds like homeowners have spoken, to those running for presidential election.

US stock market, economy and companies update (February 08, 2012)

After opening in positive territory, thanks to some decent corporate earnings, US indices are sinking into the red as concerns about Greece push back to the forefront. Greek political party leaders finally got around to conferencing about austerity measures this morning and investors are eagerly awaiting the outcome of the meeting. Note that yesterday afternoon, there were press reports that the ECB would be willing to exchange Greek debt for EFSF bonds (thanks to guarantees that it would not take losses in the exchange). This morning more unconfirmed reports indicated that the ECB has not committed to any such exchange, pouring cold water on yesterday's story. Crude spiked from $96 to just over $100 this morning, before trading off again.

Indian stock market daily closing report (February 08, 2012)

The markets ended up around 0.50% in a volatile trading session today. Consumer Durable stocks were among major gainers today led by VIP Industries, Titan & TTK Prestige. IT socks too provided support to the markets on account of improved economic scenario on global front. Bharti Airtel was the top Sensex loser due to less than expected Q3 result declared by the company today.

European stock market, economy and companies update (February 08, 2012)

European shares were up among optimism that Greek debt deals are continuing to progress. Reports from Greek press noted that the PSI deal is now completed. The coupon would be 3% to 2020. Greek political leaders are expected to meet later in the day and are expected to agree on austerity measures. On the other hand, Greece PM is also meeting individually with ECB, EU and IMF.  In individual names, Sanofi [SAN.FR] dropped about 2% after issuing a profit warning for 2012. Due to generic competition, Sanofi expects profit to drop up to 15% in 2012. Vestas [VWS.DK] also declined after reporting a significant decline in its EBIT and announcing the resignation of its CFO.

Russian stock market daily morning report (February 08, 2012, Wednesday)

Foreign background this morning is mildly positive: Asian session is trading in the “green zone”, futures for the U.S. exchange indices and oil prices show insignificant climbing. B.Bernanke once again promised in his statement to the U.S. senators in his statement yesterday, that FED would do whatever it takes to prevent the effect of the debt crisis in the Eurozone on the American economy.

Asian stock market, economy and companies update (February 08, 2012)

Markets started off to the upside before gaining some momentum and making strong gains for the rest of the Asian trading session. Confidence has re-entered the market that the Greek debt situation will be resolved. PM Papademos met with Troika officials today to "put the finishing touches" on terms for the next bailout package and will meet with politicians today to talk about next round of austerity measures. EUR/USD traded in a 40 pip range testing $1.3275. The outperformers of the session were the Taiex, with 163 point and the Hang Seng with over 200 points.

Indian stock market daily morning report (February 08, 2012, Wednesday)

Indian markets snapped a five-day winning streak and closed on negative note yesterday after the government forecast growth may dip below 7%, the slowest pace since the 2008 financial crisis. The Government released its advance GDP estimate for the year ending on March 31, 2012 and expected GDP to expand by 6.9% in FY12 as against a healthy 8.4% in the last two years. The sentiment was also edgy after weakness in European markets amid concerns about Greece's ability to secure a second bailout package from the international lenders to avert a default.

Singapore stock market and companies daily report (SATS, OSIM, Tiger Airways) (February 08, 2012)

SATS reported a net profit of $120.8 million, 14.1% lower than a year ago even as revenue rose 31% to $1.25 billion. SATS was a beneficiary of the growth in flights and cargo handled at Changi Airport in addition to higher revenue contribution from SATS HK. OSIM International, the well-being and healthy lifestyle products group recorded an 8.8% increase in FY11 revenue over FY10 to $553.7 million. Net profit surged 37.9% to hit a record of $69 million. The broad based growth for FY11 was supported by increased sales and better margins from increased productivity per outlet and per employee.

Indian stock market and companies daily report (February 08, 2012, Wednesday)

The domestic markets are expected to open in the green tracking positive opening in most of the Asian markets. Indian markets snapped a five-day winning streak on Tuesday after the government revised down its economic growth forecast for the current fiscal year to 6.9% its slowest pace in three years. Globally, US stocks recovered day’s lows and closed in green yesterday as Greek officials’ reportedly on reaching an agreement to enact the reforms needed to receive a new bailout. Buying interest remained relatively subdued, however, limiting the upside for the markets. Also, a US Labor Department report showed job openings rising to 3.38mn in December from 3.12mn in November showing continues progress in the job market. Indian investors, meanwhile, would keenly watch out for the domestic industrial production growth for the month of December due to be released on Friday.

Australian stock market and companies daily report (February 08, 2012)

US stocks rose, with blue chips reaching at a fresh multiyear closing high, as investors were encouraged by progress in Greece over austerity measures to address its debt crisis. The Dow Jones Industrial Average closed up 33.07 points, or 0.26%, to 12,878.20, after reversing early losses. The Dow finished at its highest close since May 2008. The Standard & Poor's 500-stock index was up 2.72 points, or 0.20%, to 1347.05, and the Nasdaq Composite rose 2.09 points, or 0.07%, to 2,904.08. Seven of the S&P 500's 10 sectors were higher, led by utilities and energy stocks. McDonald's was the largest percentage gainer on the Dow, up 1.4%.

Malaysia stock market and companies daily report (February 08, 2012)

The local oil and gas industry is expected to fare better in 2012, with the development of marginal oilfields and enhanced oil recovery (EOR) likely to continue and given due attention. Internet-based applications and solutions provider, The Media Shoppe (TMS) and systems integrator and solutions provider for automated revenue collection in the transportation and electronic purse sectors, Hopetech are expected to be jointly awarded a RM21 million contract to design, supply and commission passenger information and closed-circuit television systems for KTM. According to Green Ocean Corp’s president and managing director McKin Lee Byoung Jin, the company is expected to start commercial production of its NoveLin cooking oil in April as it was finalising a deal with two conglomerates for the exclusive supply of NoveLin for 20 years, since 2009.

US stock market daily report (February 07, 2012, Tuesday)

The Labor Department reported Tuesday that the number of job openings rose to 3.38 million in December from 3.12 million in November. The government reported that, although the number of job openings remained below the 4.4 million openings when the recession began in December 2007, the number of job openings has increased 39% since the end of the recession in June 2009. Gains were led by professional and business services, while the biggest drop came from education and health services. The number of hires fell to 4.05 million from 4.13 million, while separations fell to 3.91 million from 3.99 million.

US stock market, economy and companies update (February 07, 2012)

Equity indices on both sides of the Atlantic are back to unchanged this morning after a rocky start. There is a considerable amount of optimism about the situation in Greece this morning, after the government was reported to have secured a deal to pass fresh reform measures, removing at least one block to the next round of aid payments from the EU and the IMF. With the better sentiment about Greece, the dollar is underperforming, aiding commodities. After sinking as low at $96 earlier in the session, the front-month WTI contract is back up to $98.

Indian stock market daily closing report (February 07, 2012)

After a gap up opening the markets pared all of its gains in noon trade today. The investor’s sentiments were dampened today after Central Statistical Organization declared less than estimated advanced FY12 GDP growth at 6.9%. The RBI in its quarterly monetary policy review last month has estimated FY12 GDP growth at 7%. Buying pressure was visible in airlines stocks today due to government’s approval for direct import of aviation turbine fuel by airline companies.

European stock market, economy and companies update (February 07, 2012)

European shares declined during the session among stalling Greece talks and mixed corporate earnings. The Greek government is struggling to progress on planned austerity measures which has triggered concerns over a contagion in the Eurozone. Fitch noted that Eurozone crisis is likely to be prolonged as a consequence while Citigroup analysts forecast chances of Greece exit from the EMU at 50% within 18 months vs prior forecast of 25-30%.

Russian stock market daily morning report (February 07, 2012, Tuesday)

Statements by the ministry of industry and informational technology of China on the extreme uncertainty of prospects of economy leaded to significant correction of Chinese indices. Reserve bank of Australia unexpectedly kept the base rate with no changes – it was expected that due to worsening of macroeconomic situation within the recent months CB goes for rate reduction – unexpected action of CB caused drop at Australian market. Today, while there will be no significant data outputs, all attention will belong to Greece, as expected, the second round of negotiations will be complete.

Asian stock market, economy and companies update (February 07, 2012)

Markets were subdued across the region ahead of the key Reserve Bank of Australia rate decision. However after the RBA, in a surprise move, kept rates unchanged at 4.25% the markets tumbled, with the ASX falling 0.4%, key trading partner China saw the Shanghai Composite fall nearly 2%. The AUD/USD rose over 90 pips testing $1.08, a 6-month high. The RBA said there were reduced risks from Europe and borrowing rates had declined to levels close to medium term average. RBA also thought that the inflation outlook provided for easier policy.

Indian stock market and companies daily report (February 07, 2012, Tuesday)

The domestic markets are expected to open in the green tracking positive opening in most of the Asian markets. Indian markets extended their bull run on Monday, with shares hitting fresh 14.5 week highs in early trading as positive economic data from the US raised hopes the global economy will withstand the impact of Europe's debt crisis. Globally, US stocks retreated from multi-year highs on Monday as Greece struggled for an agreement on spending cuts needed to ensure another round of rescue funds. Greece missed a deadline on enacting reforms necessary to receive a new bailout from the European Union and the International Monetary Fund.

Indian stock market daily morning report (February 07, 2012, Tuesday)

Indian markets continued its winning streak for fifth straight sessions and closed on positive note yesterday tracking firm global markets after last week's robust U.S. jobs data, which helped improve risk appetite amongst investors. Markets also got support as the Congress led coalition government at the centre got a relief after a special court investigating the telecom licenses scam dismissed a petition to investigate Home Minister P Chidambaram's alleged role in a 2G scam. A bout of volatility was witnessed in mid-afternoon trade as key benchmark indices trimmed intraday gains as European shares dropped in early trade there. Except pharma, all sectoral indices closed on positive note with real estate, capital goods, metal and bank stocks were major gainers. Cement shares surged after cement firms reported higher dispatches for the month just gone by. Dena Bank closed 8.71% up after the bank reported a better-than-expected 20.7% rise in December-quarter net profit. IL&FS Transportation Networks gained 3.83% after it received an Rs.18.18bn road contract from the National Highways Authority of India. Piramal Healthcare closed down 1.14% afterrising more than 7% in last trading day as the company said that it would buy a 5.5% stake in Vodafone's India unit from Essar for Rs.30bn. Hindustan Unilever fell 3.57%, despite reporting a better-thanexpected net profit. The company lowered its spending on advertising and promotions in the quarter, raising concerns it may not be able to hold on to its market share.

Malaysia stock market and companies daily report (February 07, 2012)

Plastic packaging material producers expect the demand for their products to rise this year as a result of stable raw material prices stemming from additional plastic resin supply capacity and the softening market in China. Eastern & Oriental (E&O), a Penang-based property developer, is forging ahead to build a wellness-themed township named Medini Integrated Wellness Capital which consist of a residential and commercial site under two main portions – the Medini Estate and Medini Sanctuary. According to sources from the Star Online, ACE market-listed Digistar Corp will make an application to the Securities Commission for its migration to the Main Market before its results are released at the end of this month.

Singapore stock market and companies daily report (Eu Yan Sang, Noble Group, Sembcorp) (February 07, 2012)

Eu Yan Sang International’s (EYS) earnings sank into the red for the second quarter ended December 2011, recording a loss of $2.8 million compared to a gain of $4.1 million in 2Q11. Noble Group has appointed Yusuf Alireza – the former co-president of Asia, excluding Japan, for Goldman Sachs – as chief executive officer (CEO). Sembcorp Marine has won a US$792.5 million contract from Sete Brasil, marking its first drillship construction for Brazil.

Australian stock market and companies daily report (February 07, 2012)

Stocks drifted lower, putting on hold five weeks of gains for the broader market, as investors shifted their focus to wrangling in Greece over fiscal austerity. The Dow Jones Industrial Average eased 17.10 points, or 0.13%, to 12,845.13. The Standard & Poor's 500-stock index lost 0.57 point, or 0.04%, to 1,344.33, and the Nasdaq Composite declined 3.67 points, or 0.13%, to 2,901.99. Monday's declines came on the heels of five straight weeks of gains in the S&P 500, the benchmark's longest winning streak since March 2010.

US stock market daily report (February 06, 2012, Monday)

On Monday, European leaders, the 'troika' are found to increase pressure on Greece to cut a deal for a second international rescue package by agreeing to more painful reforms, warning that failure to act may lead to a debt default that could drive the country out of the euro zone. Greek party leaders resisted calls for additional austerity, particularly private-sector wage cuts, as the country’s long-running debt crisis cast a cloud over global financial markets. Prime Minister Lucas Papademos said late Sunday after a five-hour negotiating session with the leaders of the three parties that back his interim government produced an agreement on some demands, including spending cuts equal to 1.5% of gross domestic product. Disagreements over additional demands from the Greek 'troika' of international creditors were seen blocking the path to a final deal. Reports indicated that leaders were resisting calls for implementing wage cuts in the private sector. The European Union, International Monetary Fund and European Central Bank are the 'troika' of Greece creditors, that must be satisfied in order to receive a second bailout of 130 billion euros ($170.6 billion) that was agreed to in principle last year. Greece is expected to miss a March debt repayment, putting the country into outright default, without the aid. Leader of the conservative New Democracy party, Antonis Samaras, said he would continue to resist pressure for additional austerity as the troika is 'asking for more recession' in Greece.

US stock market, economy and companies update (February 06, 2012)

The focus is once again on Greece this morning, after political leaders in Athens failed to achieve agreement on a key package of new austerity measures. Talks between the political forces in the Greek parliament will continue through tomorrow, and if no deal is reached the second bailout deal, worth €130-145B could fall apart, calling into question Greece's solvency. Investors are seeking cover in USTs, and gold is in the red. Crude is a bit lower, hanging around the $97 handle.

Indian stock market daily closing report (February 06, 2012)

After a gap up opening due to global cues, the Indian markets traded in a volatile trading session today. The Nifty pared all of its gains in late noon trade but bounced back from its support level of 5330 to end in green. Realty stocks were among major gainers in today’s trade. The HUL ended down more than 3% in today’s trade after it has declared 18% increase in its Q3 NPAT.

European stock market, economy and companies update (February 06, 2012)

European equity indices opened the session lower, led by declines in French equities. European banks are mostly in negative territory amid continued concerns related to Greece and Portugal. Additionally, there has been speculation that European banking officials might have reservations about some of the capital plans presented by banks, while the daily use of the ECB's deposit facility has moved back towards the recent record highs. Underperformers include Credit Agricole [ACA.FR] and SocGen [GLE.FR].

Russian stock market daily morning report (February 06, 2012, Monday)

Today morning the Asian session is trading in the “Green zone”, futures for the U.S. exchange indices and oil prices are reducing. We expect slight correction at the Russian share market. Note, that the leaders of the political fraction in Greece managed to reach an agreement on the further reduction of budget spending by 1.5% of the national GDP, however, before the session of “Three” no significant action will occur.

Asian stock market, economy and companies update (February 06, 2012)

Markets started the session off positive on the back of strong US payroll numbers before the Kospi and Taiex slipped into negative territory. Shanghai Composite also flirted to the downside, London copper, March silver and April gold eased lower with the looming deadline for Greece to reach terms for a new bailout deal and no resolution reached over the weekend. Greece PM is in meetings with members of the Govt over another round of cuts, and meetings continue with the Troika. Risk aversion was also heightened with the worsening situation in Syria and Iran.

Indian stock market daily morning report (February 06, 2012, Monday)

Indian markets continued its winning streak after it rose sharply by end of the day to close on positive note on Friday as fresh FII buying led to a strong rebound in Indian and European markets helping a recovery in the banks and oil & gas stocks ahead of the US economic data, particularly non-farm payroll data. Indian markets remained dull till afternoon before opening of the European markets. However, a wave of fresh buying from the foreign institutional investors in the European shares as well as Indian shares helped the index to cross the crucial resistance levels to close near 17,600 levels.

Indian stock market and companies daily report (February 06, 2012, Monday)

The domestic markets are expected to open in the green tracking gap up opening in most of the Asian markets. Indian markets ended higher on Friday for a fourth day in a row on the back of heavy buying by FIIs. Globally, most of the US and European markets closed higher as traders reacted positively to a much better than expected report on the employment situation in the US in the month of January. With the stronger than expected job growth, the unemployment rate unexpectedly fell to 8.3% (lowest since February 2009) from 8.5% in the previous month.

Singapore stock market and companies daily report (Artivision, Swiber Holdings, Sembcorp Marine) (February 06, 2012)

Artivision Technology (Artivision) has signed a memorandum of understanding (MOU) with Intel Corp to incorporate its front-end in-video advertisement serving technology into Intel’s Software Development Kit (SDK). The MOU is expected to last 4 months, of which, the first working SDK with Artivision’s front-end and back-end technology will be deployed on a demo mobile device. Swiber Holdings (Swiber), an integrated construction and support services provider to the offshore industry announced that it has been awarded contracts worth US$216 million ($269 million) for offshore construction projects and vessel chartering services in Southeast Asia and South Asia.

Malaysia stock market and companies daily report (February 06, 2012)

Fraser & Neave Holdings’ (F&N) earnings fell by RM65.3 million (61%) to RM41.7 million, in the first quarter of FY12 as compared to the previous corresponding period, mainly due to the loss of the Coca-Cola business and operating losses arising from the Thailand floods last year. Wah Seong Corporation (Wah Seong), is diversifying its business upstream to plant oil palms in West Africa as it is already in the business of supplying boilers, steam turbine and oil room centrifuges to palm oil millers locally and overseas including Africa. Hong Leong Investment Bank (HLIB), which is in the process of merging with MIMB Investment Bank to boost its retail and institutional businesses, plans to grow its regional presence.

Australian stock market and companies daily report (February 06, 2012)

The Dow industrials finished in the red for the fifth time in six sessions, as a mixed earnings curbed sentiment ahead of Friday's key reading on jobs and unemployment. The Dow Jones Industrial Average edged lower by 11.12 points, or 0.1%, to 12,705.34. The Standard & Poor's 500-stock index rose 1.45 points, or 0.1%, to 1,325.54, and the technology-oriented Nasdaq Composite edged up 11.41 points, or 0.4%, to 2,859.68. The Nasdaq is up 9.8% this year. An early reading on Thursday showed initial unemployment claims decreased by 12,000, to 367,000, last week, slightly better than expectations.

US stock market daily report (February 03, 2012, Friday)

Football fans across America and around the world will be glued to their TV on Sunday February 5, watching the biggest and final NFL football game of the year at the Superdome in Indianapolis, Indiana - Super Bowl XLVI between the New England Patriots and New York Giants. Wagers are high in Las Vegas over the game this year with hundreds of millions of dollars at stake. Non-gambling activities for Super Bowl weekend is projected to reach nearly $100 million. Giants will be looking for a double or nothing title after their win over the Patriots in Super Bowl XLII, in 2008. Football fans are expected to begin the weekend long of football fever partying, as early as today.

US stock market, economy and companies update (February 03, 2012)

The January US jobs report is driving equity market gains this morning. The big increases in non-farm and private payrolls are a welcome sign that the US economic recovery is continuing, meanwhile the unemployment rate, at 8.3%, is at its lowest point since early 2009. The skeptics have tried to find the wrinkles in the reports, and apparently the only sour note is a 30-year low in the labor force participation rate, although analysts are debating whether this is due to the long-term unemployed or rather baby boomer retirees beginning to leave the workforce.

European stock market, economy and companies update (February 03, 2012)

European shares rose ahead of the US nonfarm payrolls data due out during the NY morning. While macroeconomic data from both sides of the Atlantic have been strong, further stalling of the Greek PSI deal talks may push the market lower. China Premier Wen reiterated its stance to cooperate with Europe to deal with the crisis but dids not have the ability or intention to 'buy Europe'. IMF Dep Manager Shinohara commented that the IMF might need $2T to handle the global issues at hand with a general consensus in G20 on extra IMF money but was too early to say how much each nation would contribute.

Asian stock market, economy and companies update (February 03, 2012)

Markets were weaker for most of the day ahead of key US non-farm payroll numbers, continued lethargic debt swap talks in Greece. Singapore was the exception, it stayed in positive territory for the majority of the session, however as the European open got closer trading turned around in Taiwan, Shanghai and Hong Kong. Japan earnings season treks on with most companies showing disappointing results putting an overall damper on the market. Major names Honda and Softbank both fell over 1% in the day after weaker earnings and outlook.

Russian stock market daily morning report (February 03, 2012, Friday)

Unsolved Greek problem will continue pressuring the markets. Since morning slight upping of oil quotes is compensated by light correction on American futures, which provides for sideways motion at the Russian market in the first half of the day today. In the evening the attention of the investors will belong to the output of data on the U.S. labor market, expectations on it are conservative and possibility of the negative surprise is rather high.

Indian stock market daily morning report (February 03, 2012, Friday)

Indian markets continued its winning streak and rose yesterday to their highest close in nearly three months after an eventful day as the Supreme Court of India cancelled 122 licenses issues after 2008 and strong manufacturing data in India and other major economies despite European markets showed dull opening on sharp decline in Deutsche Bank's profits. The Supreme Court decided to cancel all the licences given to the telecom firms involved during the 2G spectrum allocation after January 2008. Total of 122 licences were issued after that period. Also, the Supreme Court has dismissed petition to probe Home MInister P Chidambaram's role in the 2G case. The matter has been referred to the trial court which will rule on the case on Saturday. Supreme Court also directed the TRAI to come up with fresh guidelines on the grant of new licenses within 2 months and Government to take decision one month after submission of the recommendation. The upward movement was mainly led by gain in IT, metal, capital goods, and real estate stocks while pharma, consumer durable and FMCG stocks witnessed some selling pressure. Largest operator Bharti Airtel jumped 6.8%, its biggest percentage gain in almost 19 months, on expectations it would be a beneficiary of the ruling, while Reliance Communications and Unitech, the Indian partner of Norway's Telenor, fell 3.7% and 6.9%, respectively. Export-driven software companies rose on hopes that strong manufacturing growth in the key U.S. market may encourage higher technology spending.

Malaysia stock market and companies daily report (February 03, 2012)

Malaysia Building Society’s (MBS) FY11 profit before taxation and zakat doubled to RM428.2 million from RM207.4 million in FY10 mainly due to strong retail loan growth. Muhibbah Engineering (ME), a company whose core business is in marine construction, saw its shares surged 13.7%, or 17 sen, to RM1.41 yesterday on renewed hopes that the construction firm will stand a better chance to evade a RM300 million write-off from its works in the troubled Asia Petroleum Hub (APH) in Johor. According to AirAsia group chief executive officer Tan Sri Tony Fernandes, the recent lawsuit filed by the Australian Competition and Consumer Commission (ACCC) against AirAsia X in Australia will not have an impact on its sales.

Indian stock market and companies daily report (February 03, 2012, Friday)

The domestic markets are expected to open flat tracking mixed cues from the global markets. Asian shares were trading lower on increased loss forecasts by Asian companies as Europe’s debt crisis weighed on global sales. The US markets remained subdued even as the weekly jobless claims report showed that claims fell by more than anticipated in the week ended January 28th as investors preferred to wait for the more definite monthly employment report from the Labor Department due to be released today.

Singapore stock market and companies daily report (Singapore Airlines, StarHub, GLP) (February 03, 2012)

Persistently high jet fuel prices have eaten into Singapore Airlines’ (SIA) 3Q12 profit as the national carrier registered a 53% slump in earnings figures. StarHub recorded steady growth in most of its business segments as earnings for FY11 grew to $315.5m, up 19.9% from FY10. Global Logistics Properties (GLP) plans to commence developing a 79,023 square metre facility in Okayama, Japan in June this year.

Australian stock market and companies daily report (February 03, 2012)

The Dow industrials finished in the red for the fifth time in six sessions, as a mixed earnings curbed sentiment ahead of Friday's key reading on jobs and unemployment. The Dow Jones Industrial Average edged lower by 11.12 points, or 0.1%, to 12,705.34. The Standard & Poor's 500-stock index rose 1.45 points, or 0.1%, to 1,325.54, and the technology-oriented Nasdaq Composite edged up 11.41 points, or 0.4%, to 2,859.68. The Nasdaq is up 9.8% this year. An early reading on Thursday showed initial unemployment claims decreased by 12,000, to 367,000, last week, slightly better than expectations.

US stock market daily report (February 02, 2012, Thursday)

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US stock market, economy and companies update (February 02, 2012)

The market sentiment is one of very cautious optimism this morning, thanks to some solid US data and a few strong US earnings reports. The January Empire Manufacturing index was very strong, with excellent showings in the new orders and employment components. Initial jobless claims extended their gradual downtrend, boosting optimism about tomorrow's January non-farm payroll report. January same-store sales were decent, with a few exceptions.

European stock market, economy and companies update (February 02, 2012)

European shares erased gains during the session after drop in oil -related names offset the rally following merger talks between Xstrata and Glencore. Xstrata [XTA.UK] rallied over 12% after confirming that Glencore made an approach for a merger of equals. Glencore already owns 34% of Xstrata shares. However, overall earnings for European companies were disappointing. Among notable names, Shell [RSDA.NL] declined after missing its net adjusted profit.

Indian stock market daily closing report (February 02, 2012)

Indian markets ended up more than 0.50% in today’s trading session. The markets become volatile in late morning trade after the news that the Supreme Court has cancelled licenses given to the telecom firms on or post January 2008, which were involved in 2G spectrum allocation scam. Bharti Airtel was the top gainer today which gained almost 7%, on the expectation of getting more spectrums after Supreme Court verdict today. BSE Teck index was the top gainer today led by Hexaware & Bharti Airtel.

Russian stock market daily morning report (February 02, 2012, Thursday)

Today market will unlikely show significant growth. RTS index reached the psychologically important level of 1,600 points and it is likely to be broken, but further growth might face resistance on behalf of the bears – market grew since the beginning of the year and profit fixation is possible. Besides, the market reached an important technical level of 1,640 points on the RTS index, and a lot more optimism would be required to overcome it than the one we currently have.

Asian stock market, economy and companies update (February 02, 2012)

Markets were well into positive territory today on the back of stronger manufacturing numbers out of Europe and the US overnight, giving some confidence to the markets that the global economy is on an upward trend. Talks in Greece soldiered on with no solution announced, though EU speakers reiterated that Greece is "very close" to reaching a deal with private bond holders. With the return of some risk appetite silver and copper futures both fell, S$ hit a 3-month high against the USD, Taiwan dollar and the Philippines peso also gained against the greenback.

Indian stock market daily morning report (February 02, 2012, Thursday)

Indian markets recovered in late trade yesterday to post its highest close in 12 weeks after manufacturing data in Europe built confidence among the global investors. India's manufacturing sector grew at its fastest pace in eight months in January as factory output surged the most on record on increased domestic and foreign demand also led the markets to recover from early loss. The HSBC manufacturing purchasing managers’ index (PMI), compiled by Markit, jumped to 57.5 from 54.2 in December. The upward movement was mainly led by gain in metal, capital goods, auto and power stocks while consumer durable, PSU, IT and FMCG stocks witnessed some selling pressure. Auto stocks gained on better-than-expected January sales, with Maruti Suzuki gained 2.4% to its highest close in five and a half months after it reported its first monthly sales rise since May last year. Tata Motors gained 1.9% after it reported January sales rose 16%. M&M, which posted a 22% rise in January sales, ended 2.2% higher. ICICI Bank fell 1.4% after surging nearly 6% in the previous session, while top mortgage lender HDFC fell 1.3% after private-equity firm Carlyle Group said to have sold a quarter of its stake in the company. Top steelmaker Tata Steel jumped 4.5%, while Jindal Steel & Power surged 6.3%, leading a rally in metal stocks after news that the factory sector in China, a key consumer of natural resources from oil to metals, unexpectedly expanded slightly in January.

Indian stock market and companies daily report (February 02, 2012, Thursday)

The domestic markets are expected to open in the green tracking upbeat economic data releases from around the world. The US markets closed higher as traders reacted positively to the latest batch of economic data. The strength on Wall Street was partly due to the release of a report from payroll processor ADP showing a continued increase in private sector employment in the month of January. A separate report from the Institute for Supply Management showing a continued expansion in manufacturing activity in the month of January also generated buying interest, with the index of activity in the sector reaching a seven-month high.