Coal prices to soar as floods reach a peak January 12, 2011 TRADERS expect coal prices to rise further after the devastating floods in Australia saw prices jump $10 (£6.40) a tonne earlier in the week. Both thermal and coking coal prices have risen sharply this year due to the impact of the Australian floods, energy consultancy Wood Mackenzie said yesterday. Australian coal is used abundantly to [...]
World Forum: Economies face big risks January 12, 2011 WORLD governments have been drained of resources after the financial crisis and are poorly-equipped to handle 21st-century global risks, a new study reported yesterday. Governments are less able to tackle emerging global risks such as shortages of natural resources, an ageing world population and fragile states dominated by illegal activity. But the macroeconomic trends that [...]
Energy shares help drive Wall St higher January 11, 2011 ENERGY shares helped the Dow and S&P 500 end a three-day losing streak yesterday, even as investors worried rising fuel costs will undercut economic growth. Earnings reports from smaller companies, including homebuilder Lennar and store chain Sears Holdings, also supported stocks, but volume was low for a second day, raising questions about the sustainability of [...]
Eurozone factory output rebounded in October January 5, 2011 Industrial orders in the eurozone rebounded from a slump in September to rise 1.4 per cent month-on-month in October, generating a 14.8 per cent year-on-year gain. The monthly rise in orders was largely due to a five per cent jump in demand for durable consumer goods, the European Union’s statistics office Eurostat said. In a [...]
What the other papers say this morning January 4, 2011 FINANCIAL TIMES BOND SURGE ON BOTH SIDES OF THE ATLANTIC AS COMPANIES VIE FOR FUNDS Companies have embarked on an early-year rush to issue debt in an effort to beat rivals and secure financing before any rise in borrowing costs.The surge in bond issuance on both sides of the Atlantic on Tuesday came as equity [...]
US rally peters out as oil prices weigh January 4, 2011 US stocks fell yesterday as declines in oil and metals prices dragged down energy and materials shares, while concern about lower supermarket profits hit consumer stocks. The S&P materials index slid 1.6 per cent while the energy index dipped 1.1 per cent as metals and oil prices dropped after recent gains. Shares of Supervalu fell [...]
FTSE hits 31-month high on first close of 2011 January 4, 2011 LONDON saw a storming start to 2011 as the FTSE moved above the 6,000 level in the year’s first trading session to close at a 31-month high. The FTSE 100 moved up 1.9 per cent or 113.93 points to close at 6,013.87, its highest level since June 2008, buoyed by rises on US and European [...]
Euro Zone inflation higher than expected January 4, 2011 Euro zone inflation was higher than expected in December, exceeding the European Central Bank’s target for the first time in two years, but economists believe the bank will keep interest rates unchanged well into 2011. The European Union’s statistics office Eurostat estimated that prices in the 16 countries that shared the euro currency in December [...]
Manufacturing activity grows at fastest pace in 16 years January 4, 2011 Manufacturing activity grew at its fastest pace in over 16 years in December and firms’ costs rose at a record pace, suggesting at least one sector of the economy may be ready for higher interest rates before the end of 2011. The Markit/CIPS manufacturing Purchasing Managers’ Index (PMI) rose to 58.3 in December, its highest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 3, 2011 FINANCIAL TIMES CHINA TRAVEL GROUP PULLS OUT OF AIM Et-China.com International Holdings, the Chinese travel specialist, will today become the first company to quit Aim this year. Shares in the company, which raised £4.4m at 127p a share when it joined Aim in August 2007, were suspended at 103 1/2p in July because of its [...]