Latest News In Stock Market Investment Research – Nov 27, 2009

Please note it is your responsibility to evaluate the accuracy, completeness and usefulness of any information, opinion or advice contained in the content below.

Bank of Mexico keeps rates on hold at 4.5%

27 Nov 2009 at 8:10am

FRANKFURT (MarketWatch) — Mexico’s central bank decided on Friday to keep its benchmark interest rate unchanged at 4.5%. The decision was in line with market expectations. Earlier this week, Mexico posted benign inflation figures, with the annual rate at a lower-than-expected 3.2% in the first half of November. In recent trading, the Mexican peso rose 0.7% against the U.S. dollar.

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.


U.S. oil production to rise the most in 39 years

27 Nov 2009 at 8:02am

NEW YORK (MarketWatch) – This year’s U.S. crude oil production is on track to show its biggest year-on-year jump since 1970, an analysis of historical data by Platts showed Friday. If the 5.268 million barrels a day of average production level, recorded in the first ten months of the year, holds through December, this year’s output will rise 6.4% from 2008, the Platts analysis of Energy Information Administration data showed. This year’s production level will be the highest since 2004, when output averaged 5.419 million barrels a day. Peak oil production was recorded in 1970, when the U.S. produced 9.637 million barrels of oil.

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.


Drug stocks chase broader market south

27 Nov 2009 at 8:01am

BOSTON (MarketWatch) — Drug stocks chased the broader market south as stocks fell across the board early Friday on concerns of a possible credit crisis in the United Arab Emirates state of Dubai. The NYSE Arca Pharmaceutical Index and the NYSE Arca Biotechnology Index both fell about 2% to 304.77 and 875.22, respectively. The Dow Jones Industrial Average tumbled almost 200 points to 10,275.

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.


U.S. stocks slide at the open on Dubai woes

27 Nov 2009 at 7:44am

NEW YORK (MarketWatch) — U.S. stocks fell sharply at the open on Friday, as traders returned from the Thanksgiving holiday to be met by global nervousness over debt woes for Dubai World. The Dow Jones Industrial Average was down 201 points, or 1.9%, at 10,261, weighed down by more than 3% drops in shares of Alcoa Inc. , Caterpillar Inc. , and General Electric . Crude oil prices plunged more than 5%, hitting energy shares the hardest. The S&P 500 index fell 26 points, or 2.3%, at 1,084, while the Nasdaq Composite dropped slumped 50 points, or 2.3%, to 2,125.

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.


Tech stocks slide as broad market sells off

27 Nov 2009 at 7:43am

SAN FRANCISCO (MarketWatch) – Technology stocks fell sharply across the board Friday morning following a market-wide selloff. The Nasdaq Composite Index slid 2.3% after the opening bell while the Morgan Stanley High Tech 35 Index dropped 2.6% and the Philadelphia Semiconductor Index fell 2.7%. The Dow was off more than 200 points after the opening bell as worries about debt problems at Dubai World sparked selling across the market.

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.


Lloyds will ask courts to dismiss overdraft cases

27 Nov 2009 at 7:17am

LONDON (MarketWatch) — Lloyds Banking Group said Friday that it will ask local courts to dismiss thousands of cases lodged against it for the return of overdraft fees. The statement on the bank’s Web site came after the Supreme Court ruled in favor of the banking sector in a test case on Wednesday, saying the Office of Fair Trading could not investigate the fees under consumer legislation. Customer complaints made to the bank have also remained on hold while the test case was being heard. Lloyds said Friday it will work with the Financial Services Authority to ensure the outstanding customer complaints “are brought to a swift conclusion,” and said it will “continue to treat customers sympathetically who are vulnerable and in financial hardship.”

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.


Best Buy CEO says Black Friday traffic is up

27 Nov 2009 at 6:48am

NEW YORK (MarketWatch) – No. 1 U.S. electronics retailer Best Buy Co. said its Black Friday traffic is up so far as consumers purchased smart phones, flat panel televisions, laptops, netbooks and digital cameras. “We are pleased with the traffic and pleased that consumers are out,” Chief Executive Brian Dunn said in an interview. “That gives a positive sign.”

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.


Russia, Renault agree on Avtovaz restructuring

27 Nov 2009 at 6:18am

FRANKFURT (MarketWatch) — Renault SA and the other shareholders of troubled Russian carmaker Avtovaz said Friday they have agreed on a restructuring plan for the company. Under the plan, the Russian government will increase its financial support for Avtovaz from 25 billion to 75 billion rubles ($2.5 billion) to reimburse bank debt and cover the company’s short-term cash needs. Renault will contribute the equivalent of 240 million euros ($358 million) in-kind through the transfer of technologies, production machinery, equipment and expertise in support of the production of new vehicles. Renault will also help Avtovaz develop a new entry-level vehicle to replace the Lada Classic and create new powertrain production capacity. Renault has a 25% stake in Avtovaz.

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.


Cost of insuring Dubai debt soars for third day

27 Nov 2009 at 6:15am

LONDON (MarketWatch) — The cost of insuring Dubai’s sovereign debt against default rose sharply for the third straight day Friday as investors continued to flee risky assets in the wake of Dubai World’s debt-restructuring announcement earlier this week. The spread on five-year Dubai credit default swaps soared to 708.96 basis points in early afternoon activity, up 167.75 basis points from Thursday’s close, according to CMA DataVision. That means it would cost nearly $709,000 a year to insure $10 million in debt against default.

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.


Sanofi-Aventis to participate in Russian project

27 Nov 2009 at 6:11am

LONDON (MarketWatch) — French drugmaker Sanofi-Aventis said Friday that it has signed a memorandum of understanding with Prominvest, a fully owned subsidiary of the Russian State Corporation Rostekhnologii. Sanofi intends to participate in the “Pharmpolis Project” using its insulin factory in Russia. The “Pharmpolis Project” is part of the Russian Government’s effort to localize drug manufacturers in Russia, to attract high technology platforms and to provide manufacturers with sufficient resources, effective business environment and proper supplier network to foster the expansion of the pharmaceutical market, the firm said.

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.


Euro-zone economic sentiment up in November

27 Nov 2009 at 3:06am

LONDON (MarketWatch) — The economic sentiment indicator for the 16-nation euro zone rose to 88.8 in November, up from 86.1 the previous month, the European Commission reported Friday. Economists had forecast a rise to 88.1. The commission’s consumer confidence index rose to -17 in November from -18, while the industrial confidence indicator gained two points to -19.

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.


Dubai fallout may hit investment banking revenues

27 Nov 2009 at 2:18am

LONDON (MarketWatch) — Analysts at J.P. Morgan said Friday that they are “less concerned for global banks” over their exposure to Dubai World’s outstanding debt, but that there is a more significant worry about investment banks due to mark-to-market pricing risks and the potential for lower fixed income revenues in emerging markets. The broker said that in terms of investment-banking risk the most exposed firms are Barclays and Deutsche Bank . “With rates, foreign exchange and credit witnessing record revenues in 2009 and expected to decline in 2010, investment banks were expecting to grow their emerging markets market fixed income revenues, which could be more challenging in this environment,” J.P. Morgan said.

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.


French consumer confidence jumps

27 Nov 2009 at 2:16am

LONDON (MarketWatch) — French consumer confidence jumped in November, boosted by rising optimism over personal finances and the general economic situation, the statistical agency Insee reported Friday. The agency’s consumer confidence index rose to -30 from -34 in October. Economists had expected an unchanged reading of -34, according to a survey conducted by Dow Jones Newswires.

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.


UBS: support for Dubai may be less than assumed

27 Nov 2009 at 1:59am

LONDON (MarketWatch) — Analysts at UBS said authorities will not have taken the decision to restructure Dubai World lightly and that there are three potential explanations for the decision. Firstly, UBS said, Abu Dhabi’s support for Dubai might be less generous than assumed. “Perhaps Abu Dhabi has forced Dubai to tackle the problem of excessive corporate debt
‘in-house’ first before extending more financial support,” the broker said. A second possibility is that corporate-sector problems might be more severe than assumed, UBS said. Thirdly, Dubai’s debt might be higher than the generally assumed $80 billion to $90 billion due to potential off-balance sheet liabilities, it added.

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.


Dubai may drive emerging markets underperformance

27 Nov 2009 at 1:45am

LONDON (MarketWatch) — Analysts at HSBC said Friday that the cheapening of Dubai sovereign debt already appears excessive, but that the events in Dubai could still prove to be the catalyst for more general emerging-markets underperformance. The broker said selling protection in five-years Dubai credit default swaps after Thursday’s sharp rise in the cost of default protection is likely to be a profitable trade for those prepared to look through near-term volatility. Investors seeking opportunities to position for a widening of emerging market spreads should look at other opportunities it added. The broker said that for bond investors the Russian bank and corporate markets have become more crowded, as have high-yielding local currency markets such as Brazil, Indonesia, Hungary and Poland. Also in Turkey, five-years CDS prices are around 1.5 percentage points below where they should be, HSBC said.

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.


Related Articles on Stock Market Investments.com

Latest News (external links)

Recent Articles on this site

Free Newsletter

Sign up for the free Daily newsletter, filled with tips and advice on Stock Market Investing, Stock Market Fundamentals, Day Trading, Online Trading, Commodities, Mutual Funds, Foreign Exchange and Options. Your email address will be kept confidential and won't be shared. Easily unsubscribe at any time.

If you enjoy the free information available on this site, you're sure to enjoy the free newsletter as well:

Enter your email address:

Delivered by FeedBurner

Site Search Tags:

Share and Enjoy:

November 27 2009 07:26 am | Stock Market News

Trackback URI | Comments RSS

Leave a Reply

Related Posts from the Past: