Reports Archive

Asian stock market, economy and companies update (March 01, 2012)

Markets were broadly weaker though fairly stagnant for the session after the US Fed's Bernanke failed to mention another round of QE. China headline manufacturing PMI climbed for the third consecutive month and hit a 5 month high at 51. New export orders rose to 51.1 from 46.9 prior. HSBC manufacturing PMI had a four month high but stayed in contraction. However the news was fresh confirmation that China was continuing its momentum despite European woes, a slow recovery in the US and a two speed economy in Australia. LTRO in Europe topped the first round of funding with €529.5B going to EU banks v €489B in the first offering. Japan capital spending picked up in Q4, one can assume that companies are getting into the core of rebuilding after last year's disasters in the country.

Indian stock market daily morning report (March 01, 2012, Thursday)

A lower than expected economic growth in the third quarter led to bearish sentiments on the Street yesterday. The BSE Sensex plunged over 250 points from the day's high to slip into negative territory in afternoon session. The Sensex closed up 21.56 points at 17752.68, while the broader Nifty index up 9.7 points at 5385.20. The third quarter gross domestic product (GDP) grew at 6.1%, falling short of consensus estimates that had pegged GDP growth at 6.3%. This is the slowest pace of economic growth since 2008. BSE Midcap Index was up 1.10% and BSE Smallcap Index moved 0.62% higher. Amongst the sectoral indices, BSE Oil&Gas Index gained 2.53%, BSE Power Index moved 0.28% higher and BSE Realty Index advanced 1.10%. Whereas BSE Capital Goods Index was down 1.59% and BSE Bankex slipped 0.59%. The Major Sensex gainers were ONGC, Sterlite Industries, Tata steel, Reliance Industries, and Wipro up 3.46%, 2.98%, 2.90%, 2.84% and 2.72%. Whereas Larsen & Toubro, Jindal Steel, HDFC Bank, Maruti Suzuki and Tata Motors were down 2.91%, 1.81%, 2.34%, 1.02%, 0.68% respectively. Shares of ONGC surged higher on reports that the government is set to launch its FPO through share auction. The government is likely to raise around Rs.124Bn.

Malaysia stock market and companies daily report (March 01, 2012)

National carrier Malaysia Airline System (MAS) was pushed into the red as a result of surging operating expenses. Sime Darby (SD), a conglomerate with businesses in plantations, property, automotive, healthcare, energy and industrial, posted revenue increases of 20.3 percent from RM18.7 billion to RM22.5 billion, with net profit after tax and minority interest (PATMI) increasing 42 percent from RM1.5 billion to RM2.2 billion over the previous corresponding period. Proton Holdings, in its 3Q12 results, registered a loss of RM88.2 million, 46.8% higher than the losses TM60.1 million incurred in 3Q11.

Indian stock market and companies daily report (March 01, 2012, Thursday)

Indian markets are expected to open flat with mixed cues from markets worldwide. SGX nifty is trading marginally lower in the initial trade. The US markets showed a lack of direction for much of the trading session on Wednesday eventually closing firmly in the red. The markets ended lower partly due to profit taking, with traders cashing in on recent strength. Selling pressure was also generated as the Fed chief refrained from discussing further quantitative easing despite acknowledging that the pace of the U.S. economic expansion has been uneven and modest by historical standards. Most of the European markets too finished in the red on Wednesday.

Singapore stock market and companies daily report (Jardine C&C, Oceanus Group) (March 01, 2012)

Total profits of firms that have reported earnings were down by more than 20 percent for 4Q11 signalling another tough quarter with perhaps more to come. Jardine Cycle & Carriage (Jardine C&C) posted a 28 percent increase in FY11 revenue to US$20.1 billion, underpinned by an outstanding performance by Astra as it became a beneficiary of continuing growth in the Indonesian economy. An internal probe at Oceanus Group suggested that the mysterious death of millions of abalones at its farms could be due to poor nutrition.

Australian stock market and companies daily report (March 01, 2012)

US stocks ended a strong month of gains on a weak note, after Federal Reserve Chairman Ben Bernanke took a cautious view of the US recovery and offered few clear signals for additional easing measures to aid the economy. The Dow Jones Industrial Average lost 53.05 points, or 0.41%, to finish at 12,952.07, slipping back below the 13,000 level. The Standard & Poor's 500-stock index lost 6.50 points, or 0.47%, to 1,365.68, and the Nasdaq Composite shed 19.87 points, or 0.67%, to 2,966.89. The decline came one day after the Dow broke through 13,000 to hit a nearly fouryear high. And the Nasdaq briefly topped 3,000 before pulling back following Bernanke's guarded remarks.

US stock market daily report (February 29, 2012, Wednesday)

On Wednesday, Federal Reserve Board Chairman Ben Bernanke said in testimony prepared for the House Financial Services Committee that recent improvement in the unemployment rate has put the Federal Reserve on alert and watching incoming data closely. “It will be especially important to evaluate incoming information to assess the underlying pace of economic recovery,” in light of the “somewhat different signals” received recently from the labor market than from indicators of final demand, Bernanke said. Bernanke stopped short of saying the improvement in the unemployment rate meant a better economy ahead. Bernanke said the Fed expects the unemployment rate to edge down slowly throughout the year. He said that any continued improvement in the job market 'is likely to require stronger growth in final demand and production'. Despite the recent drop in the jobless rate, Bernanke called the job market 'far from normal'. “With output growth in 2012 projected to remain close to its longer-run trend, growth of 2.3%-2.6%, FOMC members did not anticipate further substantial declines in the unemployment rate over the course of this year,” Bernanke said. “The recovery of the U.S. continues, but the pace of expansion has been uneven and modest by historical standards,” Bernanke told the committee. Fed officials have forecast growth in a range of a 2.25% -2.7% rate for 2012 and with this moderate growth, the Fed does not anticipate further 'substantial declines' in the jobless rate, he said. The Fed also expects inflation to run in a range of 1.4-1.8% this year, below the Fed’s goal of 2%. Bernanke said this subdued inflation rate should persist 'beyond this year'. Bernanke said that, since the Fed forecast, gasoline prices have moved up and this development is likely to push inflation up 'temporarily' while at the same time reducing consumers’ purchasing power. “We will continue to monitor energy markets carefully,” Bernanke said. Bernanke said that strains in global financial markets posed 'significant downside risks' to the outlook.

US stock market, economy and companies update (February 29, 2012)

The Nasdaq briefly topped 3000 for the first time since December 2000 this morning, after the first close of the DJIA above 13000 since May 2008 yesterday afternoon. Coming into the US session, the focus was on the ECB's second LTRO auction, in which 800 banks borrowed approx €530B, more or less in line with expectations. The solid showing helped most European equity indices hold in positive territory. Some analysts did suggest that markets were looking for a higher uptake in the LTRO, other wondered if the larger number of participating banks was a positive or a negative sign. Also before the open of US equity trading, the final reading of the Q4 US GDP figures was a bit stronger than expected, suggesting the economic growth trend continues to strengthen.

Russian stock market daily evening report (February 29, 2012, Wednesday)

Share indices at the European markets moved in different directions today: British FTSE 100 was lowering, while German DAX showed climbing despite the negative stats on unemployment in Germany. Today Asian markets closed with slight growth, and futures for S&P 500 are trading in the green zone, which indicates positive mood of the investors. Revision of data on growth of U.S. GDP upwards is also supporting the quotes.

Indian stock market daily closing report (February 29, 2012)

Indian Markets pared all of its morning gains due to the economic growth concern. The government has declared Q3 growth for the current financial year at 6.1%. The decrease in Q3 GDP growth is mainly due to due to poor performance of the manufacturing, mining and farm sectors. This is the lowest quarterly growth for last 2 years, which has dampened investor’s sentiments today. ONGC was the top Sensex gainer today on the news that it will launch its share sale through an auction on Thursday.

European stock market, economy and companies update (February 29, 2012)

Markets traded up ahead of ECB's LTRO which boosted optimism that the second long-term refinancing operation would ease the tension in the banking sector. Data showed that the 3-year tender, which was slightly higher than expected, attracted 800 bidders from 523 prior. Markets are still digesting the news and are moving erratically but remain in positive territory. Banks rallied during the session.

Russian stock market daily morning report (February 29, 2012, Wednesday)

Tuesday the Russian market followed the downtrend; however, the reduction was insignificant and likely was caused by the oil price reduction. As for the rest the news background was calm and cost of blue chips changed insignificantly. The shares of Lukoil showed the most significant change slipping beyond the market.

Asian stock market, economy and companies update (February 29, 2012)

Markets were positive today after Greece PM Papademos was able to garner enough support to win the motion on austerity measures needed for the next bailout. IMF Chief Lagarde was also positive on the region saying the situation was strengthening every day. EUR/USD failed to break $1.35 but tested $1.3486. GBP/USD tested a 3-week high of $1.5920. AUD/USD tested above $1.08, a 3-week high, after generally better data from down under. According to analyst today's key data out of Australia, retail sales, construction work done and private sector credit showed no material weakness and they do not expect the RBA to cut rates and additional 25bps until late Spring at the soonest.

Indian stock market and companies daily report (February 29, 2012, Wednesday)

Indian Markets are expected to open in the green taking cues from the SGX Nifty and Asian markets which are trading higher in the opening trade. The US Markets edged up higher on Tuesday buoyed by a report from the Conference Board showing a substantial improvement in consumer confidence in the month of February. The strong consumer confidence numbers for February over shadowed the 4% drop in consumer durables orders for the month of January. US markets were also boosted by optimism about the impact of the European Central Bank's long term refinancing operation announcement which is due today. Dow Jones closed higher than 13,000 for the first time since May 2008. The major European markets which saw some volatility during the course of the day, ended the day on the upside.

Indian stock market daily morning report (February 29, 2012, Wednesday)

After witnessing a brutal laceration of over 2.5% in the previous trading session, barometer gauges made a strong recovery. However, the pullback that came after the previous session’s dramatic sell off was long overdue. Sensex gained 285 points in yesterday’s trading session, which took the barometer index higher above the crucial psychological level of 17600 level. Similarly, fresh buying by funds and retailers at attractive lower levels also took the NSE 50-share Nifty higher above the psychological 5350 mark. Betrothed in bottom fishing, underpinned by ease in oil prices, which offset concerns over rising energy costs undermining efforts to curb inflation and lower interest rates. Gains of yesterday’s trading session were mainly on the back of buying in high beta Realty and Metal counters, while consumer durables stocks also saw strong gains. Reliance Infra was the top gainer followed by Reliance Communications, Reliance Power also extended gains. Other infra stocks like JP Associates and IDFC saw buying interest.

Australian stock market and companies daily report (February 29, 2012)

The Dow Jones Industrial Average closed above 13,000 points for the first time in nearly four years on Tuesday, after attempting and failing to break the psychological barrier in five previous tries over the last week. The Dow Jones Industrial Average ended the day up 24 points, or 0.2%, to 13,005. The index has not closed above the milestone since May 19, 2008. The Standard & Poor's 500-stock index closed up 4.6 points, or 0.3%, at 1,372, and the Nasdaq Composite closed up 21 points, or 0.7%, to 2,987.

Malaysia stock market and companies daily report (February 29, 2012)

According to Minister Datuk Seri Idris Jala in the Prime Minister’s Department, the oil and gas sector is expected to play a bigger role in driving the Malaysian economy this year and beyond despite a 5.7 percent contraction in the sector’s output last year. Genting, the investment and management parent company of both Genting Malaysia and Genting Singapore, saw its revenue climb by 28.7 percent from RM15.2 billion to RM19.6 billion, with profit after tax and minority interest increased by 30.2 percent from RM2.2 billion to RM2.9 billion over the previous corresponding period. Mah Sing (MS), a premier lifestyle developer, posted revenue increases of 41.5 percent from RM1.1 billion to RM1.6 billion, with profit after tax and minority interest increasing by 42.8 percent from RM118 million to RM168.6 million over the previous corresponding period.

Singapore stock market and companies daily report (Noble Group, STX Pan Ocean, Hong Leong Finance) (February 29, 2012)

Noble Group said its profit for the fourth quarter tumbled 57 percent to US$105.7 million, mainly due to lower operating margins from its agriculture, metals, minerals and ores businesses. STX Pan Ocean (STX PO) posted a surprise profit of US$47 million for the fourth quarter ended 31 December, this represented a more than six-fold increase compared to the US$7 million in 4Q10, helped by the strength of the dry-bulk market. Hong Leong Finance, Singapore’s largest finance company, saw its profits declined 18.2 percent to $99.8 million from $122 million for the full year ended December 2011.

US stock market daily report (February 28, 2012, Tuesday)

The Conference Board reported Tuesday that consumer confidence is the highest in a year, with more optimism about jobs. U.S. consumer confidence rose to 70.8 in February from 61.5 in January - with a prior estimate for January pegged the level at 61.1. Lynn Franco, director of the Conference Board’s consumer research center said, “Consumers are considerably less pessimistic about current business and labor market conditions.” Franco added that, “Despite further increases in gas prices, they are more optimistic about the short-term outlook.” An index of consumers’ views on the present situation rose to 45 in February from 38.8 in January. Those saying jobs are 'hard to get' fell to 38.7% during February from 43.3% in January; those saying jobs are 'not so plentiful' rose to 54.7% from 50.5% and those saying jobs are plentiful' rose to 6.6% from 6.2%. A gauge of consumers’ expectations rose to 88 in February from 76.7 during January. Those expecting fewer jobs in six months fell to 16.9% in February from 19.1% during January. Those expecting more jobs rose to 18.7% from 16.4% and the rest expect the same employment. Those with plans to buy an automobile within six months rose to 10.5% in February from 10% during January. Those planning to buy a home fell to 4.1% from 4.3% while those planning to buy major appliances fell to 44.4% from 48.4%.

US stock market, economy and companies update (February 28, 2012)

Equity indices are making cautious gains this morning as late-breaking economic data helps make up for the very weak January durables reading out before the open of the US trading session. The February consumer confidence reading beat consensus expectations and pushed out to a one-year high, while the Richmond Fed's February manufacturing index widely topped estimates. Before the open, the January Durable Goods Orders racked up their largest decline in three years, with both the headline and non-defense reading down more than 4%.

European stock market, economy and companies update (February 28, 2012)

European shares were higher as markets are optimistic ahead of the ECB's second longer term refinancing operations which would provide liquidity for European banks. Gains were however limited after S&P downgraded Greece to Selective Default status. As expected, German parliament voted to approve the second bailout for Greece. In corporate news, Bayer [BAYN.DE] gave a more cautious outlook for 2012. Company missed both on estimates and net due to the poor performance of the MaterialScience unit. However, the CropScience unit reported growth. Shares traded lower during the session. TomTom [TOM2.NL] dropped 16% after giving a disappointing guidance.

Russian stock market daily morning report (February 28, 2012, Tuesday)

Yesterday the European exchange markets closed the trades with reduction within 1%: British FTSE 100 lowered 0.33%, German DAX – 0.22%, French CAC 40 – 0.74%. American markets closed variously: Dow Jones -0.01%, S&P 500 +0.14%, Nasdaq +0.08%. Russian exchange market was flat on Monday. High oil prices and inflow of liquidity on behalf of ECB did not let the correction get expanded.

Asian stock market, economy and companies update (February 28, 2012)

A small decline in crude gave a relief rally to most markets across the region. Yesterday's heavy hit South Korea tested above the 2,005 level and emerging market currencies gained. Philippines Central Bank Gov Tetangco said that overseas easing is complicating policy and capital inflows are turning emerging markets into portfolio managers. The PHP for its part gained over 0.7% to PHP42.81 to the USD. He also said that inflation should be manageable as long as there were no major shocks from oil prices.

Indian stock market daily morning report (February 28, 2012, Tuesday)

Indian markets saw biggest one-day fall since September 2011 led by huge shorts build up and unwinding of long positions. UP election results expected on March 6 and spike in crude oil prices to 10-month high may have deteriorated investors' sentiment. The fall was not only restricted to largecaps but also to broader markets, which tanked more than 3%. All BSE sectoral indices closed in a negative terrain barring FMCG. Rate sensitives took huge beating as rate cuts by RBI may be postponed if crude oil prices keep rising. Realty and Metal indices were down 5%. Power, Bank, Capital Goods, Auto and Oil & Gas indices tanked 3-4%. Shares of Sesa Goa topped the selling list, falling 10.5% after London listed metals and mining company Vedanta Resources approved merger of Sesa Goa and Sterlite Industries on Saturday. The new company called Sesa Sterlite.

Malaysia stock market and companies daily report (February 28, 2012)

CIMB Group Holdings, Malaysia’s second largest bank by assets, increased revenue by 2.1 percent from RM11.9 billion to RM12.1 billion, with profit after tax and minority interest increased by 15.1 percent from RM3.5 billion to RM4 billion over the previous corresponding period. Bumi Armada (BA), a Malaysia-based international offshore oilfield services provider, posted revenue increases of 24.4 percent from RM1.2 billion to RM1.5 billion, with profit after tax and minority interest increasing marginally by 2.5 percent from RM350.8 million to RM359.7 million over the previous corresponding period. IOI Corp, Malaysia’s second largest listed palm planter, plans to plant some 25,000 hectares of land per year over the next three years in Borneo Island, to support its refinery plans in Indonesia.

Indian stock market and companies daily report (February 28, 2012, Tuesday)

Indian markets are expected to open in the red following the negative cues from the markets worldwide. The Asian markets which saw heavy selling in yesterday’s session have opened in red this morning. The US markets staged a significant recovery after moving notably lower in early trading on Monday, eventually ending the session flat. Renewed concerns about the financial situation in Europe contributed to the initial weakness on Wall Street, with traders reacting negatively to a statement from the G20 finance ministers and central bank governors. Economic risks of European markets were in focus again during Monday's trading session. The continued rise in oil prices, due to the increasing tensions in the nuclear dispute with Iran, has investors concerned.

Australian stock market and companies daily report (February 28, 2012)

The Dow Jones Industrial Average edged lower on Monday, closing just below 13,000, as stocks reversed early declines after encouraging reports on the domestic economy, only to fade late in the session. The Dow ended the day down 1.44 points, or essentially flat, at 12,981.51. The bluechip benchmark failed in its fifth attempt over the past week to end above the level it hadn't hit since the financial crisis. The Standard & Poor's 500-stock index rose 1.85 points, or 0.1%, to 1,367.59, and the Nasdaq Composite gained 2.41 points, or 0.1%, to 2,966.16.

Singapore stock market and companies daily report (TCT, Berlian Laju, Golden Agri) (February 28, 2012)

Treasury China Trust (TCT) has announced FY11 earnings of $235.5 million underpinned by net property income of $58.1 million. Following earlier debt restructuring and debt standstill announcements in January-2012, Berlian Laju, Indonesia’s largest oil and gas shipping group, defaulted on six of its debt instruments. Golden Agri-Resources, a palm plantation company, concluded FY11 with topline soaring 69.8 percent to hit nearly US$6 billion.

US stock market, economy and companies update (February 27, 2012)

US indices bounced lower this morning after the S&P500 closed last Friday at four-year highs, but popped right back into positive territory in mid-morning trade. The February Dallas Fed manufacturing survey provided a nice piece of good news this morning, with the index well ahead of expectations and a big gain in the employment sub index. The January pending home sales data indicated that US home resales were very close to two-year highs. Crude is off the highs seen earlier, when the front-month WTI contract nearly broke $110. The contract is in the mid-$108 handle as of writing.

US stock market daily report (February 27, 2012, Monday)

National Association of Realtors reported Monday that pending home sales - contracts but not closings - climbed 2% in January to the highest level since April 2010 with the pending-home-sales index rising to 97.0 from a downwardly revised 95.1 reading in December. The index would have shown growth even without the revision, as December's index initially was reported as 96.6. Pending home sales were up 8%, compared to January 2011. "Given more favorable housing market conditions, the trend in contract activity implies we are on track for a more meaningful sales gain this year," said NAR Chief Economist Lawrence Yun, who added this would bring about a broad price stabilization or even modest national price growth.

European stock market, economy and companies update (February 27, 2012)

European shares were trading lower as the week began. Oil prices continue to worry markets as they their increase may hurt company's prices and global growth. G20 meeting also curbed the enthusiasm over Greece's aid as countries clearly stated that Europe must increase its firewall if additional IMF resources were to be committed.

Russian stock market daily morning report (February 27, 2012, Monday)

Friday the Russian share market speeded up – principal indices added 4-5%. As for the evens capable of making such a serious effect while there were no signals from the abroad (Europe and America traded with slight positive) – we might name the political events only. Most upping was on the oil sector, including via increased oil prices. Shares of LUKOIL, that earlier were the outsiders, now were the growth leaders.

Asian stock market, economy and companies update (February 27, 2012)

Markets were mixed for the session, starting mostly to the downside before late in the session, China and Hong Kong climbed steadily into positive territory. Singapore flirted in and out of the red, while the Kospi lost nearly 1.5% on rising energy costs. South Korea Finance Minister Bahk said that the higher oil prices could push inflation out of the target zone and have far reaching impact on Korea, the world's 5th largest oil importer. The KRW lost 0.4% to the USD testing KRW1,130. IMF's Chief Lagarde commenting after the G20 noted that the global economy is not out of the danger zone, though comments out of the G20 were generally positive on progress on Europe and the gradually improving economic outlook.

Indian stock market daily morning report (February 27, 2012, Monday)

The Sensex closed at 17924, down 154.93 points or 0.86% and the Nifty ended at 5429 down 54 points or 0.98%. It was first weekly fall for markets in 2012. Among the 13 sectoral indices, five closed higher. Top Gainers - BSE Metal up by 1.08%, BSE TECk up by 0.56% and BSE IT up by 0.55%. Top Losers - BSE CG down by 2.96%, BSE Realty down by 2.28% and BSE Bankex down by 1.95%. Profit booking emerged after recent gains as concerns mounted over the state of the global economy, including rising oil prices. India’s widening fiscal deficit also added to the gloom. Volatility was high owing to F&O expiry for Feb 2012 this week. There was also a lot of uncertainty ahead of events like the upcoming budget.

Indian stock market and companies daily report (February 27, 2012, Monday)

Indian markets are expected to open in the green tracking positive cues from other Asian markets. Most of the Asian indices have opened positively continuing from the gains they recorded on Friday. The US markets closed flat on Friday despite relatively strong Economic data that came out during the day. Various reports that were published indicated a betterthan expected improvement of consumer sentiment index for the month of February. The new home sales data for January 2011 too came in higher than estimates. The new home sales stood at 321,000 as against the earlier estimate of 315,000. During this week, the US markets are expected to keenly observe the reports on durable goods, manufacturing activity and the weekly jobless claims. Meanwhile performance of the European bourses was mixed on Friday. Mean while Indian shares fell for a third consecutive session on Friday, as rising oil prices and concerns over a widening fiscal deficit prompted investors to book some profits ahead of the weekend.

Australian stock market and companies daily report (February 27, 2012)

The Standard & Poor's 500-stock index squeaked out its highest close since 2008, as most stocks traded higher after better-than-expected reports on home sales and consumer sentiment. The Dow Jones Industrial Average fell 1.74 points, or 0.01%, to 12,982.95, after reaching above the 13,000 mark earlier in the session. The S&P 500 tacked on 2.28 points, or 0.17%, to 1,365.74, its highest close since June 5, 2008. The Nasdaq Composite added 6.77 points, or 0.23%, to 2,963.75. Stocks edged higher after upbeat readings on the US economic data front, but gave up gains in the afternoon.

Malaysia stock market and companies daily report (February 27, 2012)

Unlike some of its foreign counterparts, the Malaysian banking system and bond market have ample liquidity to meet borrowers’ funding needs. Tan Sri Vincent Tan, the founder and controlling shareholder of Berjaya Corporation group of companies, plans to list the chain of 7-Eleven convenience stores, under a company called 7-Eleven Malaysia, and also MOL Global which has shares in the world’s largest social networking service firm Facebook, within the next two years. Silver Bird, which makes bread and confectionery, announced on Friday that it could not meet the 29 February deadline for the issuance of its audited financial statements for the year ended 31 October 2011.

Singapore stock market and companies daily report (Q&M Dental Group, Swiber Holdings) (February 27, 2012)

In statistics released by the Economic Development Board, Singapore’s key manufacturing sector churned out 8.8 percent fewer products in January 2012. Q&M Dental Group, a private dental healthcare group in Asia reported FY11 earnings growth of 14 percent to $4.6 million on the back on a healthy 22 percent increase in revenue. Swiber Holdings, an integrated construction and support services provider to the offshore oil and gas industry, registered a record topline performance of US$654.5 million, a 40.5 percent jump from FY10 figures.

US stock market daily report (February 24, 2012, Friday)

University of Michigan and Thomson Reuters released on Friday that U.S. consumers are finally beginning to believe in the economic recovery, but they remain very concerned about their own family finances. Consumer sentiment rose for the sixth consecutive month during February, reaching a one-year high of 75.3. The sentiment index has increased by an incredible 19.5 points since August - the largest jump in confidence in nearly 30 years. The surge in confidence is mostly due to increased optimism about the future, not improved conditions now. Even as national gasoline prices continued to climb, consumer sentiment actually improved over the past two weeks as there is renewed optimism about jobs. A record percentage of respondents to the survey reported hearing about good news on the jobs front however, consumers remain deeply worried about their own finances. Only 8% of consumers surveyed expect their family’s income will grow faster than inflation this year. Consumers remain hunkered down in their shelters until they see real improvement in their own lives.

US stock market, economy and companies update (February 24, 2012, Friday)

Uncomfortable calm has settled over global markets this morning as Greece begins its debt swap. European indices are flat or up slightly, while US indices pushed out to fresh two-month highs before trading off a bit. The prevailing sentiment is that Greece and its euro zone partners have arrested the threat of contagion for the moment, as the debt exchange moves forward and national euro zone parliaments appear prepared to authorize the bailout. Many are wondering, however, whether the PSI exchange or the votes will be completed without further turbulence.

Indian stock market daily closing report (February 24, 2012)

For the first time in last eight weeks the markets ended on negative note. After gaining for 11% in Jan & 7% in Feb, the markets lost more than 2% in last two trading session. The markets ended down around 1% today mainly due to profit booking, rising crude oil prices and lingering concerns regarding euro zone. HDFC closed down around 3% today as the 14.50 million shares of the company were traded at an average market price of Rs 670 per share via block deals.

European stock market, economy and companies update (February 24, 2012)

European shares climbed out of the three-day losses and were trading in positive territory during Friday's session as worries recede over Greece's second bailout. Positive corporate earnings also helped boost the shares. Telecom Italia [TIT.IT] was a positive surprise as company reported slightly higher than expected results and expected a stable EBITDA in the future. BASF [BAS.DE] was also up after reporting earnings in line with estimates. Among the losers, Lloyds [LLOY.UK] reported a wider than expected loss with an outlook clouded by uncertainty. The core tier was however stronger, in line with company's objectives.

Asian stock market, economy and companies update (February 24, 2012)

Markets started the day off cautious before being boosted as economic data from around the globe showed an improving picture. South Korea consumer confidence hit a 3-month high, while the won tested to KRW1,124 against the dollar. RBA Gov Stevens in Australia indicated that interest rates are just about right for the current situation and that the stance of monetary policy is currently neutral. Stevens also said that he wasn't surprised that banks have been moving rates independent of the RBA given the global finding environment.

Russian stock market daily morning report (February 24, 2012, Friday)

While the Russian players were out for a holiday the situation at the global market did not change much. American S&P stays at the annual highs – after output of positive data on jobless claims and price index for immovable property for December, European indices corrected a little – despite the positive data on IFO in Germany, oil set the new highs against the background of the tension around Iran and Syria.

Indian stock market daily morning report (February 24, 2012, Friday)

Indian markets fell for the second straight day yesterday to reach their lowest closing level in more than a week as investors took profits on expiry of monthly derivatives amid concerns about high oil prices. Volatility was high as traders rolled over positions in futures & options (F&O) segment from the near-month February 2012 series to March 2012 series. Investors are also awaiting further evidence on the health of the global economy as high oil prices threaten to fuel inflationary pressures and increase costs for companies, affecting their profitability.

Indian stock market and companies daily report (February 24, 2012, Friday)

Indian markets are expected to open higher tracking positive cues from the markets worldwide. The Asian stocks have opened in the green and crude oil advanced after U.S. jobless claims held at a four-year low and German business confidence exceeded forecasts. The European markets closed mixed on Thursday as negativity caused by the EU Commission comments on economic activity in the euro area and speculation about a big sale program for European equities and worries about a possible downgrade of the creditworthiness of Portugal kept markets under pressure.

Malaysia stock market and companies daily report (February 24, 2012)

SP Setia, one of Malaysia’s top property developer, is slated to hit RM60 billion in gross development value (GDV) this year, helped by strong property demand and liquidity in the local financial system. According BusinessTimes (Online), SP Setia’s president and chief executive officer Tan Sri Liew Kee Sin had revealed that SP Setia registered sales of RM933 million for the first quarter of financial year ending 31 October 2012. Media Prima (MP), an integrated media investment group, had recently registered revenue growth of 4.9 percent from RM1.5 billion to RM1.6 billion in FY11, with profit before tax (PBT) decreasing by 5.4 percent, registering RM279.5 million from RM295.3 million.

Singapore stock market and companies daily report (Sheng Siong, Petra Foods, ST Engineering) (February 24, 2012)

Local supermarket chain, Sheng Siong Group, reported FY11 earnings of $27.3 million on revenue of $578.4 million, a slump of 36.1 percent and 8 percent respectively over FY10 figures. The closure of outlets at the Ten Mile Junction and Tanjong Katong contributed to the dip in revenue as both buildings were sold for redevelopment. Petra Foods, a major manufacturer and supplier of cocoa and other confectionary products, registered robust results in its FY11 earnings report card. For its financial year ended on 31 December 2011, Petra filed a 36.2 percent jump in earnings to US$60.6 million ($76 million).

Australian stock market and companies daily report (February 24, 2012)

Stocks overcame early losses, buoyed by economic data and strong performances from two individual stocks that helped pull indexes up. After dropping 56 points shortly after the market opened, the Dow Jones Industrial Average ended the day up 46 points, or 0.4%, at 12,985. The Standard & Poor's 500- stock index finished up 5.8, or 0.4%, at 1,363, and the Nasdaq Composite closed up 24 points, or 0.8%, at 2,957. The Labor Department reported initial claims for unemployment benefits totalled 351,000 during the week ended Feb. 18, unchanged from last week's revised total.

US stock market daily report (February 23, 2012, Thursday)

As the White House is due to hold an event on online privacy, Google, Microsoft and others have agreed to support a do-not-track button in most Web browsers. The do-not-track button will not stop Facebook from tracking members' use of the Like button. Federal Housing Finance Agency reported Thursday that, U.S. home prices rose 0.7% on a seasonally-adjusted basis in December, an up finish to a year in which prices fell 2.4%. "While FHFA's national index shows a 2 percentage point price decline over the latest four quarters, 12 states and the District of Columbia posted price increases," said FHFA Principal Economist Andrew Leventis.

US stock market, economy and companies update (February 23, 2012, Thursday)

US equity indices are back in the black after a cautious start this morning. Global growth concerns are front and center, following pessimistic stories out overnight concerning both China and Europe. Reports out overnight suggested that Chinese Premier Wen would announce Beijing is now targeting GDP of less than 8% in 2012, which would be the first time in seven years that China officially put growth below this key level. Then this morning, the EU Commission issues interim economic forecasts that predicted the euro zone would experience a mild recession in 2012, with most member states experiencing negative growth.

Indian stock market daily closing report (February 23, 2012)

The Indian Markets remained volatile in last trading session of February expiry today. Though the markets ended in red today, it has gained around 6% in the February series. The broader markets like BSE Midcap and Small cap indices ended down 0.5-0.9% today but they gained around 8% in the February series.

European stock market, economy and companies update (February 23, 2012)

European shares traded mixed to negative territory even after positive German IFO. EU commission cut its forecast for Eurozone FY12 GDP to -0.3% noting that the Eurozone was seen in a mild recession although signs of stabilization were seen. Banking shares weighed down the market as RBS [RBS.UK], Commerzbank [CBK.DE] and Credit Agricole [ACA.FR] were all trading lower after reporting losses on sovereign debt. Credit Agricole reported a wider than expected loss and upped its provisions to 74%. Bank took a charge of €220M in Q4.

Asian stock market, economy and companies update (February 23, 2012)

Markets were bearish today as the global outlook continues to be cloudy. China's benchmark money market rate hit a 5-week high at 6.80% for CNY30B in 6-month deposits. According to analysts China Premier Wen will announce at the March 5th National People's Congress that he will target GDP of less than 8%. GDP growth of 8% has been maintained in China from 2005-2011. China yuan saw its biggest decline against the USD since early February. The World Bank indicated China is facing an economic crisis if it does not implement deep reforms, including scaling back on state owned companies.

Indian stock market daily morning report (February 23, 2012, Thursday)

Indian markets edged lower yesterday to reach their lowest closing level in more than a week as weakness in European stocks triggered profit booking on the domestic bourses after recent strong rally in share prices. After opening near day’s high, the Indian markets turned lackluster before a sudden wave of selling hit the indices in the afternoon trade ahead of F&O expiry. The market is now looking towards the general budget and the RBI’s policy review, both due in mid-March, for any triggers.

Indian stock market and companies daily report (February 23, 2012, Thursday)

Indian markets are expected to open in the red tracking negative cues worldwide. The Asian stocks have opened in the red following uninspired economic and corporate earnings news which added to the cautious sentiments. European stocks closed lower on Wednesday, as worse than expected German service and manufacturing data combined with additional Greek rating cuts weighed on equities. Fitch has downgraded Greece's credit rating to 'C' from 'CCC' following Eurozone agreement on a second bailout for the country.

Singapore stock market and companies daily report (Ezion, Rotary Engineering, Hyflux) (February 23, 2012)

After announcing commendable FY11 results as well as a charter contract win, Ezion Holdings has proposed to raise additional capital by way of a placement of 110 million shares. Rotary Engineering, a services provider to the oil and gas and petrochemical industries, released its FY11 earnings report card after a rebranding exercise on 16 February 2012. In its earnings report released on 22 February 2012, Hyflux lamented about projects being dried up during the Arab Spring. 

Malaysia stock market and companies daily report (February 23, 2012)

The integrated structural steel turnkey contractor, Eversendai Corp has secured contracts for projects in the Middle East and Malaysia, valued at RM185 million. Rubber glove maker, Hartalega Holdings registered only a slight growth in its third quarter ended 31 December 2011, due partly to the increase in raw material prices and more competitive sales pricing, which resulted in the profit-before-tax margin reduced to 26.4 percent from 33.1 percent. Plantation company TSH Resources’ (TSH) net profit for the year ended 31 December 2011, swelled by 43 percent to RM120.5 million, supported by its palm oil business on the back of a 27 percent increase in turnover to RM1.15 billion compared to RM908 million for 2010.

Australian stock market and companies daily report (February 23, 2012)

US stocks faltered, snapping a three-day winning streak, as investors took a cautious stance on the European economy and uncertainty about the implementation of Greece's debt deal. The Dow Jones Industrial Average gave up 27.02 points, or 0.21%, to 12,938.67. The Standard & Poor's 500-stock index shed 4.55 points, or 0.33%, to 1,357.66, and the Nasdaq Composite eased 15.40 points, or 0.52%, to 2,933.17. The Dow is pulling back one day after peeking briefly above 13,000 on Tuesday, a level it hasn't closed above since May 2008.

US stock market daily report (February 22, 2012, Wednesday)

Driven by unnerving European headlines as well as rising commodity and energy costs, U.S. companies are dialing back their quarterly profit forecasts at the highest rate since early 2009. Generally, companies tend to understate their expectations for earnings or guidance because they will be punished for missing estimates and rewarded for exceeding them. Historically, around 60% of Standard & Poor's 500 companies beat estimates each quarter. U.S. companies have turned unusually pessimistic in forecasting a year that's already seen a more-than 8% increase in the S&P 500 Index. Macroeconomic uncertainty is weighing on companies' economic outlooks with many hitting a limit on cost-cutting. Fifty-eight companies have released estimates for first-quarter earnings that fall below analyst consensus, compared with 23 that beat Wall Street. When the S&P 500 was on its way to bottoming out below 700 in early March, this is the largest ratio of negative to positive announcements since Q1 2009.