Monthly Archives: April 2011
European Stocks Fall Before U.S. Earnings Season Begins
Asian Markets Turn Mixed on New Japan Aftershock and Downgrades by Citi
German 2 Year Note Yields Rise to Their Highest Level in 32 Months
IMF Expected To Downgrade Growth Estimates
Soros: China Inflation ” Somewhat out of control”
Pimco Downgrades U.S. Government Debt
Euro Falls Against Dollar on Debt and Technical Concerns
A French Electric Company Said To be in Talks to Take Over Tyco International
Qaddafi Said to Accept a Cease Fire and a Plan for Peace
Japan Receives Another Non Lethal 6.6M Earthquake Shock
European Markets Mixed, US Futures Higher
France and Germany are slightly lower and the UK is up. Gold and silver are strong, while oil is flat.
S&P futures are up 4.
Comments »Retail Lending Up 50% at Nomura
Japanese brokerage giant Nomura, ticker NMR, has been lending customers money against their portfolios.
Demand for Yen has surged.
Comments »Oil’s March Madness a Boost for Refiners
Refiners are one of the energy sub-sectors that could benefit the most from higher oil prices. Historically March marks the end of a five-month stretch in which monthly crack spreads (value of refined products minus the prices of the crude oil feedstock) tends to increase. Spreads are generally 4 percent wider in March than February.
This year, some refiners are getting an added bonus because of the significant price difference between WTI and Brent crude oil. Currently, Brent is trading about $15 a barrel higher than WTI, which means that some refiners are buying their oil $15 below global prices. This adds to the profitability of each barrel.
The discount may remain wide for the time being because crude oil supplies from Canada and the mid-continental region of the U.S. have risen faster than demand. These supplies travel to storage facilities at the delivery hub in Cushing, Oklahoma, which makes it difficult to be exported overseas. This creates a supply glut unique to the region.
Read the rest here.
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S. African president: Gadhafi accepts terms of agreement
Tripoli, Libya (CNN) — Embattled Libyan leader Moammar Gadhafi, in negotiations with the African Union, has agreed in principal to a deal that would end the conflict in the nation he’s ruled for 42 years, South African President Jacob Zuma told reporters Sunday.
Negotiations remained under way Sunday night between Gadhafi and the African Union delegation.
Details of the agreement were not available, though it is believed to include an immediate ceasefire in the nearly two-month long war between Gadhafi’s forces and those fighting to unseat him. In his comments, Zuma also discussed an end to NATO airstrikes aimed at enforcing a no-fly zone and targeting Gadhafi’s troops.
After staying overnight in Tripoli, the African Union delegation will fly Monday to the Libyan rebel stronghold of Benghazi to meet with opposition leaders there.
Read the rest here.
Comments »March Auto Sales +5.4% in China
However, judging by their accounting standards, I am sure that number is nothing more than a headline.
Comments »France, UN Bomb Gbagbo’s House
The Ivory Coast is feeling the full wrath now.
Comments »NXPI Would Consider $60 Bid
“National Semiconductor got a good deal and I would consider talks at an 80 percent premium or between $55 to $60 per share,” he added.
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