REVIEW OF SCHOLARSHIP
TUESDAY, September 28, 2010
(1) SUMMARY OF THE SCENARIO:
Asian markets closed mostly lower on Tuesday as investors followed the performance of Wall Street after a four-week high. China's stocks were pressured by worries that Beijing may launch new measures to cool the real estate industry.
JAPAN: The Tokyo market was "heavy" due to a large number of shares, trading ex-dividend, especially pharmaceutical companies. Still hanging on expectation of further measures of monetary policy easing by the Bank of Japan, raising hopes that the yen will not strengthen further (BOJ will discuss additional measures flexibility in its policy board meeting in October). The turnover was low, with investors awaiting the quarterly results from Bank of Japan to be released on Wednesday. Takefuji Corp filed for court protection from creditors under the Corporate Rehabilitation Law of Japan leaving behind 433.6 billion yen (U.S. $ 5.1 billion) in total debts. The shares closed down 32.2%.
CHINA: China devalued shares amid persistent worries that Beijing might launch more tightening measures in real estate to contain a possible housing bubble. Investors are trading with caution in the face of uncertainties about the policies for real estate developers and banks.
EUROPE: European markets falling, especially the French tire manufacturer Michelin (want to sell € 200,000,000 ($ 1.6 billion) of new shares) and Dutch chemical group Akzo Nobel (defined medium-term targets that disappointed investors) among the largest falls. The Irish government said it would spend € 35 billion to assist Anglo Irish Bank, but many doubt his capacity to do so. Bank stocks also fell across Europe with the concerns about public debt that continues to undermine investor confidence. Weighs still expeculaç! To that Moody's might downgrade the debt this week Spain, following the Standard & Poor's and Fitch, which has already cut the debt rating of the country. The British GDP grew 1.2% in the second quarter compared with the first three months of the year and showed a growth of 1.7% over the same period last year.
(2) AGENDA OF THE MARKET:
TODAY:
USA:
11:00 am - Consumer Confidence (confidence of U.S. consumers) in September. Published monthly by the Conference Board conducts interviews to obtain the 5000 index, which is divided into two categories: the country's current economic situation and expectations for the future. The first category represents 40% of the index, while the latter represents 60%.
AGENDA FOR TUESDAY:
USA: 11.30 - Inventories of American Petroleum.
EUROPE: Economic Confidence (consumer confidence in economic activity), Industry Confidence (confidence of executives in the industry), Service Confidence (executive confidence in the service sector) and Consumer Confidence (level of consumer confidence in the Eurozone).
UNITED KINGDOM: Consumer Credit (total volume of consumer credit) and GFK Consumer Confidence (level of UK consumer confidence about the future of the local economy).
GERMANY: No provision is the disclosure of economic indicators.
(3) WORLD INDEX (7:10 a.m.):
ASIA
Australia: -0.11%
Nikkei: -1.12%
Hong Kong: -1.03%
Shanghai Composite: -0.63%
EUROPE
London - FTSE: -0.30%
Paris Cac 40: +0.02%
Netherlands: +0.22%
Frankfurt - Dax: +0.28%
Madrid IBEX: -0.55%
Zurich: -0.07%
Milan Mib: +0.11%
Moscow RTS: -0.43%
OIL
BRENT: -0.18%
WTI: -0.30%
METALLIC COMMODITIES
COPPER: -0.23%
NICKEL: -0.99%
INDEX FUTURES AMERICAN
Dow: +0.21%
S & P: +0.18%
NASDAQ: +0.44%
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