Latest News in Stock Market Investment Research – Jan 2, 2009

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Worldwide semiconductor sales down 9.8% in November

2 Jan 2009 at 4:12am

LONDON (MarketWatch) — Worldwide sales of semiconductors fell 9.8% to $20.8 billion in November, from $23.1 billion a year earlier, the Semiconductor Industry Association said Friday. Sales in the month were 7.2% lower than the $22.4 billion reported for October, the SIA added. Excluding memory products, sales fell 4.8% from a year earlier to $17.3 billion. “The memory market, which has been under severe price pressure throughout the year, has seen sales decline significantly, while many other product sectors have year to date sales above 2007 levels,” said SIA President George Scalise.

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U.K. house prices fall by 2.2% in December

2 Jan 2009 at 3:54am

LONDON (MarketWatch) — Average house prices in the U.K. continued their downward spiral in December, falling 2.2% in the month, the Halifax House Price Index revealed Friday. House prices in December were 16.2% lower on an annual basis, the index showed, despite housing market activity showing some signs of stability as the number of mortagage approvals was broadly unchanged for the fourth consecutive month.

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U.K. manufacturing PMI data stays close to Nov.’s low

2 Jan 2009 at 3:21am

LONDON (MarketWatch) — The U.K. purchasing managers’ index edged higher from November’s record-low of 34.5, to 34.9 in December, as the country’s manufacturing remains in the midst of a severe downturn, data released by Markit Economics reveals. Output and new orders fell at, or near, the record rates posted one month earlier.

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Eurozone PMI data hits new low

2 Jan 2009 at 2:44am

LONDON (MarketWatch) — Manufacturing activity in the eurozone fell for a seventh consecutive month in December. The purchasing managers’ index fell to 33.9 in December from 35.6 in November, official data from Markit Economics showed. The reading is the lowest in the survey’s history.

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UBS sells its 1.3% stake in Bank of China: reports

2 Jan 2009 at 2:31am

MADRID (MarketWatch) — Swiss bank UBS AG has sold its 1.3% stake in the Bank of China for $808 million, according to a report in The Wall Street Journal, citing people familiar with the matter. Those people said UBS sold 3.38 billion shares to 15 participants at a 12% discount to Bank of China’s closing price Wednesday of HK$2.12 (27 U.S. cents). The sale would mark the first exit by a foreign strategic investor in a Chinese lender, amid widespread speculation that Western banks with China investments will sell down holdings to raise much-needed capital, the Journal said.

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European shares start 2009 trading with modest gains

2 Jan 2009 at 1:12am

LONDON (MarketWatch) — European shares started the first trading session of 2009 mostly higher, led by gains in the mining sector as well as a good start to the session for many banking stocks. Shares in BHP Billiton rose 1.5% in London and Societe Generale added 2.6% in Paris. The French CAC 40 index gained 0.7% at 3,240.26 and the German DAX 30 index rose 1.2% at 4,869.60. The U.K.’ FTSE 100 edged slightly higher, gaining 0.1% at 4,436.42.

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U.K. MPs call for extension to short-selling ban: report

2 Jan 2009 at 12:51am

LONDON (MarketWatch) — Some U.K. politicians are calling for the ban on short-selling of financial stocks to be extended by the Financial Services Authority when it expires in two weeks, the Financial Times reported Friday. John McFall, chairman of the Treasury select committee, said the situation hasn’t improved enough since the ban was introduced in September, the newspaper reported, citing an interview with the politician.

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U.K. retailers cut prices to start 2009: report

2 Jan 2009 at 12:47am

LONDON (MarketWatch) — Three major U.K. retailers cut prices at the start of 2009 in what is likely to be a tough year on the high street, according to a Financial Times report Friday. Asda, a division of Wal-Mart Stores Inc. cut prices on 1,000 lines across its stores, while rival Tesco lowered petrol prices by 3 pence (4.4 cents) a litre. Pub chain JD Wetherspoon will also cut prices on some food and drinks across nearly all its 713 U.K. pubs, the newspaper reported.

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Deutsche Post finance chief to retire in June

2 Jan 2009 at 12:41am

LONDON (MarketWatch) — Deutsche Post said Friday that John Allan, its chief financial officer, has decided to retire on June 30. The firm said Allan will remain an adviser to CEO Frank Appel after June and added the board will name a new finance chief in due course. It added Allan, who helped arrange the sale of a stake in Deutsche Postbank and the firm’s exit from its unprofitable DHL U.S. express domestic business, decided to make use of a contractual option that allowed him to end his current term of office prematurely.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Sydney stocks advance off the blocks in 2009

1 Jan 2009 at 5:32pm

HONG KONG (MarketWatch) — Australian shares advanced Friday on the first trading day of 2009, paced by energy-related stocks such as Woodside Petroleum and Santos . The S&P/ASX 200 Index rose 1.1% to 3,762.90, extending gains into a fifth straight session. Stock markets in Tokyo, Shanghai, Taipei, Wellington, Jakarta, Manila and Bangkok were closed for a holiday, while Soth Korea’s stock market was to open an hour later than usual.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Blagojevich nominee Burris: Call me ’senator’

1 Jan 2009 at 7:02am

CHICAGO (MarketWatch) — Roland Burris, the former Illinois attorney general tapped by embattled Gov. Rod Blagojevich to assume the Senate seat vacated by President-elect Barack Obama, insists a showdown in Washington “is not [his] style” but argues that his appointment is valid, according to a Chicago Sun-Times report. “The governor signed the letter [Wednesday],” Burris is quoted as having said, “and that makes the appointment valid.” The Illinois secretary of state refused to certify the appointment, and Senate Majority Leader Harry Reid has said the chamber would not seat any Blagojevich nominee.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Viacom, Time Warner Cable settle dispute over contract

31 Dec 2008 at 11:29pm

HONG KONG (MarketWatch) — Time Warner Cable Inc. and Viacom have settled a dispute over carriage fees, avoiding a blackout of 19 Viacom cable channels on Time Warner Cable, including MTV, Nickelodeon and Comedy Central, according to reports. The two sides had disagreed over fee increases for broadcasting Viacom’s programming into millions of homes in the U.S. Shortly after midnight, when a previous contract lapsed, the two sides agreed on a new contract, Associated Press reported, citing Time Warner Cable spokesman Alex Dudley. Details of the new contract weren’t immediately available.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Indian shares up in early trading to start 2009 with gains

31 Dec 2008 at 9:44pm

HONG KONG (MarketWatch) — Indian shares advanced Thursday on the first trading day of 2009, paced by ICICI Bank after the lender cut its lending and deposit rates by at least half a percentage point. The benchmark Sensitive Index, or Sensex, rose 0.9% to 9,729.82 in early trading, after losing more than 52% of its value in 2008 and in the wake of an overnight advance on Wall Street. Most other majors markets were closed for a holiday, including in Tokyo, Hong Kong, Sydney, Shanghai, Seoul, Singapore, Taipei and Bangkok.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

India’s ICICI Bank cuts lending, deposit rates

31 Dec 2008 at 9:34pm

HONG KONG (MarketWatch) — India’s ICICI Bank has cut its lending rates by a half percentage point and interest rates on retail fixed deposits by up to 0.75 percentage points, in the wake of similar moves by the private-sector lender’s state-owned peers. The bank slashed its prime lending rate to 16.75% from 17.25%. It has also cut its floating interest rates by a half-point to 13.75%, a move expected to benefit its home and auto loan customers.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Scana increases secondary offering to 2.5 mln shares

31 Dec 2008 at 2:58pm

SAN FRANCISCO (MarketWatch) — Scana Corp. said late Wednesday it increased a secondary public offering to 2.5 million shares from a previously disclose 2 million. The offering is priced at $35.50 a share. The offering is in conjunction with the company’s inclusion in the S&P 500, which became official at market close.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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January 02 2009 04:01 am | Stock Market News

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