REVIEW OF SCHOLARSHIP
MONDAY, September 20, 2010
(1) SUMMARY OF THE SCENARIO:
Most Asian markets suffered losses on Monday, with investors cautious about selling bank stocks and miners before holidays in some regional markets and also before the meeting of the Federal Reserve and U.S. housing data will be released on Tuesday .
JAPAN: Japanese markets have not opened due to the start of holiday (Autumnal Equinox). Today we celebrate the Day of Respect for the Aged (Keiro no hi) which is celebrated on the third Monday of September. This is a holiday dedicated to the elderly, when the Japanese pray for the longevity of older people and thank them for their contributions to society throughout their lives.
CHINA: In China, investors were reluctant to trade shares of banks due to many uncertainties in the sector, due to the possibility of stricter rules by the Bank of China regarding the reservation of loan and the risk of a high rate of interest in an attempt to prevent further financial crises in the future. In addition, the trading volume was low compared to the three-day holiday (Moon Festival) which begins on Wednesday. The China Business News reported last week that China's banking regulator was planning to require banks, the collection equivalent to 2.5% of their outstanding loans as reserves next year, aiming to strengthen their balance sheets. Tensions on the political situation involving the governments of China and Japan, following the arrest of a Chinese master in the Japanese Sea, placed back into focus the discussions on the disputed islands in the region, whose sovereignty gives the right to exploit the oil companies hurting the oil sector.
EUROPE: The European shares opened the week higher, due to the oil companies, banks and miners and with few economic data in the region. BP announced that the Well of Macondo in the Gulf of Mexico was officially sealed. Shares in Commerzbank soared after an upgrade from UBS to neutral from sell, said the bank had made great strides to stabilize in the first half of this year. The strong German economy and low interest rates should benefit the bank.
(2) AGENDA OF THE MARKET:
TODAY:
USA:
11.00 - NAHB Housing Market Index (sale of property and the expectation for new construction in the U.S. housing market) in September.
1st Day of the Meeting of the Federal Reserve to decide on the direction of U.S. monetary policy.
AGENDA FOR TUESDAY:
USA: 9.30 - Housing Starts (number of houses that began to be built) and Building Permits (how many permits for the construction of buildings have been granted) and 15.15 - Disclosure of the new level of basic American interest.
EUROPE: There are no plans to release economic indicators.
UNITED KINGDOM: No provision is the dissemination of economic indicators.
GERMANY: No provision is the dissemination of economic indicators.
(3) WORLD INDEX (7:15 a.m.):
ASIA
Australia: -0.17%
Nikkei: ---%
Hong Kong: +0.03%
Shanghai Composite: -0.38%
EUROPE
London - FTSE: +1.12%
Paris Cac 40: +0.91%
Netherlands: +1.00%
Frankfurt - Dax: +0.63%
Madrid IBEX: +0.41%
Zurich: +1.07%
Milan Mib: +0.10%
Moscow RTS: +0.03%
OIL
BRENT: +0.50%
WTI: +0.43
METALLIC COMMODITIES
COPPER: +0.48
NICKEL: +0.52%
INDICES AMERICAN FUTURE
Dow: +0.46%
S & P: +0.56%
NASDAQ: +0.56%
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