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Kuroda to ride out market storm without more stimulus

Wed, 19 Jun 2013 17:50:22 +0800

By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda has no intention of blinking first in the face off with Japan's markets even as central bank officials grow increasingly worried about price volatility. Instead, he wants the BOJ to ride out the market storm in the hope that a pick up in the economy will turn investor sentiment and persuade them his policy prescription is working, sources familiar with central bank thinking say. ...

Obama to call for nuclear cuts in Berlin speech

Wed, 19 Jun 2013 17:45:28 +0800

Barack Obama will Wednesday propose major cuts in US and Russian nuclear stocks, making a pitch for his own place in history in an evocative open-air speech during his first visit as president to Berlin.

Shares choppy, dollar steady as Fed meets

Wed, 19 Jun 2013 17:38:22 +0800

By Richard Hubbard LONDON (Reuters) - European shares turned lower but major currencies and commodities stuck within recent ranges on Wednesday as investors awaited clarity on the U.S. Federal Reserve's next policy move. Mixed reports on the strength of the U.S. economic recovery are expected to encourage the Fed to leave its ultra-loose policy unchanged, but concern it may hint at when it will wind back its bond buying is making all markets skittish. "The market is very nervous," said Oliver Roth, head trader at Close Brothers Seydler. ...

World markets mostly down as investors eye Fed

Wed, 19 Jun 2013 16:48:50 +0800

Global stock markets were mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve. Investors were waiting to see if the Fed, which wraps up a two-day policy ...

FTSE retreats; Fed in focus

Wed, 19 Jun 2013 16:47:10 +0800

By Tricia Wright LONDON (Reuters) - The FTSE 100 fell on Wednesday with traders saying investors were shifting positions ahead of the conclusion of a U.S. Federal Reserve meeting which could give hints about the longevity of its stimulus programme. By 0908 British Time, the FTSE 100 was down 37.17 points, or 0.6 percent, at 6,337.04, having risen 0.7 percent in the previous session to end at its highest level in more than a week. ...

Kenyan shilling pauses at 13-wk low, seen easing further

Wed, 19 Jun 2013 16:40:18 +0800

NAIROBI (Reuters) - The Kenyan shilling paused at a 13-week low on Wednesday, with traders expecting it to remain under pressure from importers buying dollars to meet their end of month supplies. At 0804 GMT, commercial banks quoted the shilling at 85.65/85 per dollar, a level it has closed at for the past two sessions. The currency is still 0.5 percent stronger than at the start of this year. "It has held here since there are some inflows from the tea sector and a bit of dollar selling," said Martin Ruto, a corporate dealer at African Banking Corporation. ...

Gold futures edge lower, tracking global markets

Wed, 19 Jun 2013 16:13:34 +0800

MUMBAI (Reuters) - Indian gold futures edged lower on Wednesday tracking cues from a weak overseas market and as traders eye the U.S. Federal Reserve for direction. * Fed Chairman Ben Bernanke said last month the bank could scale back its $85 billion monthly bond purchases if the U.S. economy strengthens, but a lack of clarity on the timing has unsettled markets. A policy statement from the central bank will be released on Wednesday after its meeting. * At 1:40 p.m., the most-actively traded gold for August delivery on the Multi Commodity Exchange (MCX) was 0. ...

Global shares post cautious gains before Fed statement

Wed, 19 Jun 2013 16:01:22 +0800

By Richard Hubbard LONDON (Reuters) - European shares edged higher and major currencies and commodities were little changed on Wednesday as investors awaited clarity on the U.S. Federal Reserve's next ...

Nikkei climbs to one-week high

Wed, 19 Jun 2013 14:51:31 +0800

Japan's Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment trust as a driving factor, while SoftBank Corp rose as it looked likely to win ...

Investors look for answers on economy from Fed

Wed, 19 Jun 2013 14:18:11 +0800

Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many ...

Asian markets tense before Fed; Nikkei outperforms

Wed, 19 Jun 2013 14:17:31 +0800

By Ian Chua SYDNEY (Reuters) - Japanese stocks rose on Wednesday, thanks to a positive lead from Wall Street and a softer yen, outperforming the rest of Asia which anxiously waited for clarity on the U.S. Federal Reserve's next policy step. Major currencies, commodities and U.S. Treasuries were subdued and European stocks were expected to open steady ahead of the conclusion of the Fed's June 18-19 meeting. A policy statement is due at 1800 GMT and Fed Chairman Ben Bernanke will brief media half an hour later. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent. ...

Regardless of Fed, This Is the Big Tail Risk

Wed, 19 Jun 2013 13:45:04 +0800

Stocks and bonds globally have been hit hard in the past month by fears about when U.S. monetary stimulus will end and remain at risk of further heavy pummeling even if the Federal Reserve sheds light ...

Japan's exports pick up pace, give economy momentum in rough markets

Wed, 19 Jun 2013 13:33:42 +0800

By Kaori Kaneko and Stanley White TOKYO (Reuters) - Japan's exports rose in May at the fastest annual rate in more than two years with the help of a weak yen and a moderate pick-up in global demand, boding well for the government's efforts to steer the economy through market turbulence. The faster-than-expected rise is welcome news for Prime Minister Shinzo Abe after recent a sell-off in stocks, volatility in bonds and a spike in the yen raised concerns about the outlook for his economic recipe of radical monetary easing, fiscal stimulus and pro-growth policies. ...

Gold slips for third day on rally in stocks, Fed caution

Wed, 19 Jun 2013 13:15:41 +0800

Gold fell for a third straight session on Wednesday, hovering near the lowest level in four weeks, as a rally in stocks and investor caution over the Federal Reserve curbing its stimulus programme sapped ...

Analysis: Hospital investors sold on U.S. health reform despite bumps

Wed, 19 Jun 2013 13:05:37 +0800

By Susan Kelly CHICAGO (Reuters) - Shares of U.S. hospital operators have been on a tear this year, on average posting triple the gains of the broader stock market, as investors tallied up the benefits of President Barack Obama's healthcare reform. While some on Wall Street have held back amid signs of trouble as U.S. states prepare to implement the reform law, long-term investors still see more reward than risk on the horizon for hospital stocks. They expect company earnings to strengthen as more Americans gain insurance coverage and hospitals lose less money treating the uninsured. ...

Asia Markets mostly down as investors eye Fed

Wed, 19 Jun 2013 13:01:51 +0800

Asian markets were mostly lower Wednesday as investors waited for an update on the U.S. economy from the U.S. Federal Reserve. The results of a two-day Fed policy meeting will likely ripple through stock ...

Allocations in Emerging Markets Lowest Since 2008

Wed, 19 Jun 2013 12:23:14 +0800

Investor confidence in emerging markets is continuing to plummet, with a recent fund managers' survey showing that equity investment in the group of countries has fallen to its lowest level since December ...

Brent holds above $106, all eyes on Fed

Wed, 19 Jun 2013 12:17:31 +0800

By Florence Tan SINGAPORE (Reuters) - Brent crude futures held above $106 a barrel on Wednesday as investors looked to a Federal Reserve meeting for clues on the outlook for a U.S. stimulus programme that has underpinned commodity prices. Global investors have been on edge since Fed Chairman Ben Bernanke suggested the central bank could be looking to roll back monetary stimulus, and a statement at the end of the policy meeting on Wednesday may provide a timeline. Brent futures for August delivery had edged down 1 cent to $106.01 a barrel by 0310 GMT. U.S. ...

A guide to the Federal Reserve's events Wednesday

Wed, 19 Jun 2013 12:04:27 +0800

Huge growth prospects for Business Day TV

Wed, 19 Jun 2013 12:02:00 +0800

Business Day TV offers round-the-clock business news coverage in collaboration with Bloomberg TV, replaces Summit TV on DStv’s channel 412

Asian stocks to lead the way to year's end, Fed seen pulling back - Reuters Poll

Wed, 19 Jun 2013 10:39:54 +0800

By Andy Bruce LONDON (Reuters) - Asia will spearhead the rise in global stock markets from now until the end of the year, according to a worldwide Reuters poll that showed only modest gains ahead for North American and European shares. Respondents also showed they expected the U.S. Federal Reserve to stem its asset purchase programme rather than stop it completely, probably in the second half of this year. The world's top stock indexes have had a fairly mixed year so far. ...

Fox Business Fires Tobin Smith Over Off-Air Stock Tout That Netted His Company $50K

Wed, 19 Jun 2013 08:50:43 +0800

Fox Business Network had some business advice for Tobin Smith today: Find work elsewhere. The investment manager and author who has been a familiar face on Fox News confirmed his sacking to the Wall Street Journal, which reported earlier in the day that Smith was in hot water over “sponsored investment research.” His NBT Equities Research collects checks to tout the stocks of small companies via such paid research, which the businesses count on to boost their share price and volume. And last week, Smith – a regular panelist on Fox News’ Bulls & Bears – sent out an email [...]

Real estate stocks steal the show

Wed, 19 Jun 2013 08:13:00 +0800

The Tadawul All-Share Index (TASI) continued its upward march, marking another gain of 0.84 percent yesterday. While curving in the upward territory throughout the day it added further 62.92 points, closing at 7,526.29 points.On a year-to-date basis, the index crossed a positive return of 10.6 percent.All market cap indices witnessed a positive change for the day.Twelve out of Tadawul's fifteen sectors closed up, reflecting a collection of 517.5 points.Real Estate Development sector advanced 106.3 points or 2.35 percent over the day, posting the biggest gains among all sectors. ...

Waiting for word from Bernanke, stocks move higher

Wed, 19 Jun 2013 06:16:00 +0800

It's all about the Fed. Still. U.S. stocks moved higher Tuesday, helped by news of a pickup in home building and low inflation. But the Federal Reserve loomed large, with investors trying to guess what ...

Wall St extends rise, investors see no change in Fed policy

Wed, 19 Jun 2013 04:38:12 +0800

By Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...

Here's what to watch for Wednesday from the Fed

Wed, 19 Jun 2013 04:22:17 +0800

What the world hopes to hear Wednesday from the Federal Reserve can be summed up in one word: clarity. Chairman Ben Bernanke will be pressed to settle the wave of confusion and speculation that's consumed ...

Stocks move higher as traders wait on the Fed

Wed, 19 Jun 2013 04:13:20 +0800

The stock market is closing higher as investors anticipate that the Federal Reserve will keep programs to support the U.S. economy in place. The Dow Jones industrial average rose 138 points, or 0.9 percent, ...

Wine war fears already slowing French exports to China

Wed, 19 Jun 2013 02:35:38 +0800

Chinese wine importers have already started putting orders from France and other European countries on hold over fears of a hike in tariffs being triggered as part of a broader EU-China trade dispute, say leading figures in the sector.

Stocks move higher on home building, low inflation

Wed, 19 Jun 2013 02:25:23 +0800

The rich expand their holdings and increase in number - study

Wed, 19 Jun 2013 02:19:56 +0800

By Jennifer Hoyt Cummings REUTERS - The number of millionaires in the world jumped 9.2 percent to 12 million last year, in part because of simultaneous strength in the stock, bond and real estate markets, according to a study of the high-net-worth population. The survey, released Tuesday by RBC Wealth Management and Capgemini Financial Services, tracked high-net-worth people, whom it defined as those with more than $1 million that they can invest. North America was home to the highest number of millionaires - 3.7 million. ...