SARB's power warning Nov 20, 2009
He noted that food inflation, slowed dramatically by the decrease in commodity prices, was now "pulling down" average inflation and fuel prices were no longer playing a big role. Put the brakes on inflation. (iAfrica.com)
Sub-Saharan Africa: Challenges for 2010, Remarks by Ms. Antoinette Sayeh, Director, African Department of the International Monetary Fund Nov 20, 2009
Export demand and commodity prices battered economic activity in many more countries, including oil exporters in western and central Africa. The result, in many countries, was stalled growth. (IMF News)
Medvedev urges change to economy Nov 20, 2009
A consensus is forming that the rise of the rouble is inexorable into next year, due to the continuing strength of the advance of commodity prices, which may overpower attempts by policy-makers to moderate the currency, particularly also given the capital inflows into the country. The stronger rouble makes consumer goods less expensive, and it appears that consumer demand is beginning to become a significant element in such decisions. (Asia Times Online)
Milk Futures Pull Back Nov 20, 2009
Commodity prices were mostly higher, but a swift downturn in barrels sent Class III futures tumbling. Still, fundamentals remain in place to support stronger prices in the months ahead. (Agri-View, WI)
Buttonwood: Something's gotta give Nov 20, 2009
Commodity prices are rising across the board, acting as a further tax on hard-pressed Western consumers (oil has roughly doubled since the start of the year). In some countries, particularly in Europe, actual taxes are starting to rise as well, as governments grapple with their fiscal deficits. (The Economist)
Job, foreclosure reports depress stocks Nov 20, 2009
The dollar s jump sent commodity prices tumbling. Also, an analyst s downgrade of chipmakers hit tech shares. (Boston Globe)
Brazil `Buy' Ratings Sink to Record Low as Mobius Sees Commodity-Led Gains Nov 20, 2009
Commodity prices, as measured by the , are up 19 percent this year. The biggest growth areas now are consumer and commodities, Mobius, 73, who oversees about $25 billion of emerging-market assets, said in an interview in Istanbul. (Bloomberg -- Latin America)
U.S. stocks fall on stronger dollar, weak economic data Nov 20, 2009
The dollar rose against high-yielding currencies and depressed commodity prices. Crude tumbled nearly 2 percent on New York Mercantile Exchange. (Xinhuanet, China)
One Exploration Inc. announces 2009 3rd quarter results, property disposition and updated banking arrangements Nov 19, 2009
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES (Canada Newswire)
Canada's Currency Depreciates as Crude Oil Pares Advance, Stocks Retreat Nov 19, 2009
All five are linked to commodity prices ... Canadas dollar tends to rise and fall with stocks and commodity prices. (Bloomberg -- Canada)
Republic of Marshall Islands -- 2009 Article IV Consultation, Concluding Statement of the IMF Mission Nov 19, 2009
This year s Article IV consultation took place one year after the height of the global financial crisis and the boom in commodity prices ... Despite access to large and stable grants under the Compact, the sharp increase of commodity prices took its toll on the economy ... The economy s high import dependence means that fluctuations in commodity prices pose a substantial risk to real incomes. (IMF News)
New Zealand Opposition Labour Party Drops Support for Central Bank Policy Nov 19, 2009
Bollard has said the strong exchange rate reflects U.S. dollar weakness and rising global commodity prices, and that cutting interest rate further would be unlikely to reduce demand for the currency from investors. Labour will continue to support the independence of the Reserve Bank and said price stability will still need to be an important objective. (Bloomberg -- Australia & New Zealand)
Hero Honda set to reward investors Nov 19, 2009
While the company gained handsomely from soft commodity prices, the uptick in input costs in the current quarter could have some impact on profit margins. CLSA, in a recent report, has said that margins are also likely to come under pressure from the third quarter due to rising steel and aluminium prices as well as due to indirect impact from the current labour problems at its suppliers. (India Times)
Most Stocks Drop; Xstrata, BHP Billiton Decline; Reckitt Benckiser Gains Nov 19, 2009
Nov. 19 (Bloomberg) -- Most dropped as a retreat in commodity prices weighted on raw-material stocks, overshadowing gains in Reckitt Benckiser Group Plc. Xstrata Plc and BHP Billiton Ltd. led a decline in mining stocks as metals prices slid. (Bloomberg -- UK)
S.Korean economy to grow in 2010: minister Nov 19, 2009
it is expected that next year's growth will likely be better than the government's earlier forecast of a four percent expansion," he told heads of major think-tanks. Yoon, quoted by Yonhap news agency, also noted downside factors including a tighter job market and rising commodity prices. "While some macroeconomic indicators are improving, employment conditions still remain sluggish, making it difficult for ordinary people in their daily lives," the minister said. "With a rebounding economy, oil... (Channelnewsasia.com)
Fluctuating markets have mixed results Nov 19, 2009
NEW YORK Stocks finished an erratic session mixed yesterday as higher commodity prices lifted energy and materials shares. Major stock indexes had their third straight advance, reaching new 13-month highs, but there were more declining shares than advancers on both the New York Stock Exchange and the Nasdaq. (Honolulu Advertiser)
SA falls behind Nov 19, 2009
"The global recovery has already been reflected in an improved export performance in the past months. "However, the domestic recovery is expected to be hesitant, driven by the inventory cycle and fixed investment projects," the Sarb said. Consumption expenditure was expected to take a while longer torecover. According to the bank, the global inflation environment remained benign. "The relatively wide output gaps and lower commodity prices have contributed to this outcome," it said. Domestic... (iAfrica.com)
Exall Energy Corporation Announces Significant Update to Mitsue Area Reserves Nov 19, 2009
This news release contains forward-looking statements, which are subject to certain risks, uncertainties and assumptions, including those relating to results of operations and financial condition, capital spending, financing sources, commodity prices and costs of production ... Such factors include fluctuating commodity prices, capital spending and costs of production, and other factors described in the Company's most recent Annual Information Form under the heading "Risk Factors" which has been... (CCNMatthews Press Releases)
Stocks end back-and-forth day slightly higher Nov 18, 2009
NEW YORK - Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares. Major stock indexes had their third straight advance, reaching new 13-month highs, but there were more declining shares than advancers on the New York Stock Exchange and the Nasdaq Stock Market. (MSNBC -- Business)
Roubini: Oil and Metals Near Top Nov 18, 2009
But part of it is essentially this wall of liquidity chasing assets, and the effect of carry trade on the U.S. dollar, driving further higher these commodity prices. . (Newsmax)
Inflation Index Rose Less Than Expected in October Nov 18, 2009
Federal Reserve Chairman Ben S. Bernanke Monday said that, even though commodity prices have risen recently as the U.S. dollar depreciated, inflation is likely to remain subdued for some time. Some economists argue the weaker dollar and rising oil prices are early warning signs that inflation will quickly spiral out of control. (SmartMoney)
The Better Ghana Agenda: So Far, So Better Nov 18, 2009
The volatility in commodity prices, lack of capital, depreciation of the cedi to the major currencies, inflation, reductions in foreign aid and remittance flows from citizens working abroad posed a threat to economic growth. According to the provisional September 2009 figures, real GDP grew by 4. (Ghana Web, Ghana)
Commodities push Asian stocks higher Nov 18, 2009
5 per cent after JPMorgan Chase lifted the stock to "neutral" from "underweight.'' "The increase in commodity prices and the 14th straight gain for the Baltic Dry Index show the global economy is recovering, even though the recovery lacks strength," said Hiroichi Nishi, an equities manager at Nikko Cordial Securities in Tokyo. The MSCI Asia Pacific Index added 0.3 per cent to 119.05 in Tokyo. The gauge has climbed 69 per cent from a more than five-year low on signs of a global economic recovery.... (Sydney Morning Herald -- Business)
HARVEST PROGRESSES; NOV. 13 ESTIMATE PUTS CROP LOSSES AT $309M Nov 18, 2009
Some of the 309 million in direct losses because of poor quality, yield loss and fieldwork, have been offset by rises in commodity prices as markets have responded to the NASS Crop Progress and Condition reports that have indicated declining crop conditions, Wailes said. Cotton and sorghum are estimated to have experienced the largest negative impact per acre but total loss is greatest for soybeans and cotton. (Pine Bluff Commercial, AR)
AWB posts full-year loss but hopes for better Nov 18, 2009
"The performance of AWB was mixed, affected by the availability and cost of credit, lower input margins, a rising Australian dollar, decreasing commodity prices, weak demand for fertiliser and adverse seasonal conditions on the east coast of Australia," Mr Davis said. "Looking forward, we have set the platform for more sustainable growth by reducing our net corporate debt by over $250 million and implementing a number of successful cost reduction initiatives. "In addition, after the end of the... (Sydney Morning Herald -- Business)
U.S. stocks rise slightly on commodity prices Nov 18, 2009
NEW YORK, Nov. 17 (Xinhua) -- U.S. stocks ended slightly higher on Tuesday as higher commodity prices offset Home Depot's disappointing earning outlook. Retailers Home Depot Inc., Saks Inc. and Target Corp. reported better-than-expected third-quarter results but saying they remain cautious ahead of the holiday shopping season. (Xinhuanet, China)
US inflation tame as industrial output growth slows Nov 18, 2009
Jeff Kleintop, chief market strategist at LPL Financial in Boston, said the inflation data showed rising commodity prices were pushing up raw material costs, but that was not flowing through to the finished goods that are sold to consumers. "Those prices remain tame, with the abundance of global labor and factory capacity acting as a shock absorber to those higher raw material prices," he said. (Sydney Morning Herald -- Business)
Rio less keen on BHP-Pilbara deal: analyst Nov 18, 2009
Commodity prices have rallied since then ... BHP, which is based in Melbourne, abandoned its offer for Rio, citing Rio's debt, falling commodity prices and regulatory hurdles. (Sydney Morning Herald -- Business)
HSBC Brazil Fund Outperforms Biggest Rivals on Economic Outlook, Currency Nov 18, 2009
The real has strengthened against most currencies this year on the prospects for growth, increased commodity prices, rising stocks and an improved credit outlook. Brazilian Stock Market. (Bloomberg -- Latin America)
South Africa: Deputy President Calls for Decisive Action on Food Nov 18, 2009
"This is the essence of the urgent task facing this summit. And to equal this task, we need strong accountability, follow-up mechanisms, monitoring, evaluation and matching funding to implement our decisions. "The world cannot afford another summit in the face of increasing number of hungry people; let this summit help end hunger," said Motlanthe. Relevant Links He further called on the speedy conclusion of the Doha Development Round negotiations if the summit intended to counter the instability... (allAfrica.com)
Stock market ends mixed Nov 18, 2009
Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares ... Stock market end mixed even as commodities gain Articles (11-17) 15:08 PST New York (AP) -- Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares. (San Francisco Chronicle -- Business)
Stock Market End Mixed Even as Commodities Gain Nov 18, 2009
Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares. FILE - In this Oct. 30, 2009 file photo, Specialist Donald Vaneck works at his post on the floor of. (ABC News -- Wire)
Stocks post modest gains on rise in commodities Nov 18, 2009
By Stephen Bernard and Tim Paradis, AP Business Writers NEW YORK Major stock indexes managed to post modest gains as higher commodity prices lifted energy and materials stocks ... A higher dollar makes U.S. exports less competitive overseas and also tends to depress commodity prices. (USA Today -- Money)
Stocks Post Modest Gains Tuesday Nov 18, 2009
NEW YORK (November 17, 2009)--Major stock indexes posted modest gains Tuesday as higher commodity prices lifted energy and materials stocks. Tuesdays advances were enough to push major stock indexes to new 13-month highs after the market zigzagged for much of trading as the dollar rebounded. (KWTX.com, TX)
Australian dollar to test new highs Nov 17, 2009
Mr Umansky said persistent weakness in the US dollar, strengthening of global commodity prices and better economic conditions in Australia had ''prompted a substantial accumulation of the dollar'' over the past 13 months. The accompanying weekly chart of the Australian dollars futures contract shows clearly that prices have maintained their positive bias, with unrelenting support along the upward sloping trend line,'' he said. (Sydney Morning Herald -- Business)
Reflections of a speculative bubble Nov 17, 2009
The assertion that recent gains in global equity, credit and most commodity prices have been primarily driven by easy money is not supported by data on leverage and financial flows,saysLarryHatheway, economist at UBS.. Instead, we believe price gains largely reflect improved fundamentals, including signs of global economic recovery, the strength of emerging economies, and a recovery of earnings, he says. (FT.com -- Markets)
Equity markets cool after hitting new highs Nov 17, 2009
After hitting new highs for the year on Monday, European bourses opened lower, mimicking Asian stocks slide into the red, as commodity prices pulled back on a firmer dollar. EDITORS CHOICE. (FT.com -- Markets)
Fed chief: we have close eye on greenback Nov 17, 2009
Bernanke noted that the currency's recent decline had been a factor helping to push commodity prices higher. However, he also said a high level of slack in the economy and stable longer-run inflation expectations should keep price pressures under wraps. (Sydney Morning Herald -- Business)
Open Range Energy Corp. Reports Third Quarter Results, Provides Operational Outlook and Announces First-Half 2010 Guidance Nov 17, 2009
12 per diluted share), reflecting reduced revenues driven by lower commodity prices, partially offset by the Corporation's low cost structure and natural gas price hedges ... - Announced and closed a purchase and sale agreement to substantially increase the Corporation's working interests at its core Ansell/Sundance Deep Basin property in west central Alberta, adding immediate production of 1,150 boe per day and subsequent quarterly cash flow of approximately $2 million (at current commodity... (CCNMatthews Press Releases)
UK stocks surge in global rally Nov 17, 2009
In the UK, miners such as Rio Tinto and Xstrata surged as other commodity prices such as copper rose, and gold prices touched a new record. The UK's benchmark FTSE 100 index closed up 1. (BBC News -- Business)
Burundi--Consultative Group Meeting Nov 17, 2009
With international commodity prices higher in the first half of 2008, 12-month inflation peaked at about 30 percent in June before declining to about 26 percent by year-end, which contributed to the 16 percent appreciation of the real effective exchange rate. Higher donor support helped build gross official reserves to about 6 months of imports. (IMF News)
Australian Dollar Falls From Near 15-Month High as Minutes Curb Rate Bets Nov 17, 2009
New Zealands dollar was close to the highest this month after commodity prices gained. Australia and New Zealand each get more than half their export revenue from raw materials. (Bloomberg -- Australia & New Zealand)
Emerging markets poised to continue growth Nov 17, 2009
He said at a media briefing yesterday that as the global economy recovered and grew again, commodity prices would face upward pressure. Baur said the shift to an industrial-based economy from a largely agrarian-based one would see rising demand for various goods and services. (The Star Online, Malaysia -- Business)
Nigeria: FAO Organizes Summit On Food Security Nov 17, 2009
Recent food price increases have lead to violent protests in Latin America, Africa and Asia, demonstrating the immediate impact the rise in basic commodity prices has had on the world's poorest populations. In spring 2008, Thailand, Burma, Laos, Vietnam and Cambodia agreed in principle to form a rice price-fixing body, the Organization of Rice Exporting Countries (OREC), amid soaring costs of basic grain. (allAfrica.com)
Fifth Third exec: Gov't could sway economy Nov 17, 2009
Augustine also acknowledged potential risks such as a sharp increase in commodity prices, inflation resulting from government stimulus efforts and calls for protectionism. He said that while the interest rate on a 10-year Treasury bond is too low to be attractive to investors, an increase could slow economic recovery by causing interest rates to rise. (Nashville Business Journal, TN)
Bovespa Advances to Four-Week High on Commodity Rally, Brazil Job Growth Nov 17, 2009
Nov. 16 (Bloomberg) -- advanced to a four- week high as commodity prices rose and the nations job growth accelerated more than analysts estimated, bolstering expectations for faster economic expansion. jumped more than 3 percent as metal prices rose after Asian leaders pledged to maintain measures to stimulate economic growth. (Bloomberg -- Latin America)
Canada's Factory Sales Gain Less Than Expected in September on Automobiles Nov 17, 2009
0516 on Nov. 13, as global stocks gained and commodity prices rose. The currency has gained 17 percent this year. (Bloomberg -- Canada)
Wall Street renews year high on retail sales, weak dollar Nov 17, 2009
Wall Street renewed its 2009 high on Monday due to better-than-expected retail sales and higher commodity prices resulting from a weaker dollar ... NEW YORK, Nov. 16 (Xinhua) -- Wall Street renewed its 2009 high on Monday due to better-than-expected retail sales and higher commodity prices resulting from a weaker dollar. (Xinhuanet, China)
Stocks soar as retail sales rebound in Octob... Investors kept the stock markets upward momentum going Monday, sending shares sharply higher as the dollar extended its slide and after retail sales rebounded ... Nov 17, 2009
Investors grew more upbeat about the economy Monday, Nov. 16, 2009, after retail sales rebounded more than expected in October and as a weaker dollar sent commodity prices higher. (AP Photo/Jin Lee, file). (San Diego Union-Tribune)
Fed Eyes Dollar Drop, but Hews to Low-Rate Pledge Nov 17, 2009
A weaker dollar typically supports commodity prices because dollar-priced contracts -- such as those for oil and gold -- become cheaper for buyers using other currencies. U.S. stocks rose broadly on Monday, sending indexes to 13-month closing highs, on reinforced expectations that interest rates would stay low for a long time. (ABC News -- Wire)
Asian Markets Mostly Lower as Commodities Retreat Nov 17, 2009
Asian stock markets were mostly lower Tuesday as investors locked in recent gains and commodity prices retreated. European shares fell. (ABC News -- Wire)
End of trend is nigh for central bank sales of gold Nov 17, 2009
China has taken advantage of recent dips in commodity prices to augment stockpiles and hedge against future price increases ... While a rising US dollar gold price is seen as symptomatic of a declining US dollar, this is true of US dollar commodity prices more generally. (Sydney Morning Herald -- Business)
Sri Lanka Central Bank Pledges to Keep Inflation Below 10%, Support Growth Nov 16, 2009
The recovery in the global economy could result in higher commodity prices in the international market, thus exerting some upward pressure on domestic prices. . (Bloomberg -- Asia)
Dollar closes in on 15-month highs Nov 16, 2009
With a buoyant local outlook of rising interest rates and strong economic growth, and a resilient Chinese economy that wold support commodity prices, National Australia Bank predicted the Aussie may hit US$1 by March. "There's a lot which needs to go right but there's a very good chance it will," the bank said in a note to clients. (Sydney Morning Herald -- Business)
Sensex at 20K is possible: R. Venkatraman, ED, India Infoline Group Nov 16, 2009
A word on not the large cap but the mid-tier FMCG pack, do you think that they would probably find enough interest and enough business momentum going ahead in light of rising costs of the commodity prices as well. We are quite optimistic about the prospects of the mid-tier FMCG stocks also simply because they operate in niche segments and I think your point about the commodity prices is taken because in the last 6 months or 12 months, we have seen some (19:23) commodity prices but these... (India Times)
Policy doom as takeover boom looms Nov 16, 2009
Talk to any investment banker and the response is that Chinese money is waiting to pounce once they get a better understanding of the direction of commodity prices, foreign investment policy and any repercussions from the climate change conference in Copenhagen. As the floodgates burst on corporate activity, pressure will mount on the Government to come up with a proper foreign investment policy that covers the implications of the rising power of China and the ease with which it allows... (Sydney Morning Herald -- Business)
Trade barriers impact commodities (2) Nov 15, 2009
It is probably a function of supply, said Bowman, as higher commodity prices and tighter world supplies make consuming countries revisit their biotech stance. International trading of meat is another issue that affects crop farmers. (Sioux Falls Tri-State Neighbor, SD)
China's Liu Says U.S. Interest Rates, Dollar Decline Causing Speculation Nov 15, 2009
The carry trades will further drive down the dollars value and fuel commodity prices, Zhao said. The dollars depreciation has also caused excessive liquidity in the global market. (Bloomberg -- Asia)
Getting it together at last Nov 15, 2009
It took a buoyant world economy and a surge in commodity prices to procure it. Although Brazil s economy is still relatively closed (trade accounted for a modest 24% of GDP in 2008, less than 60 years earlier), its growth is closely correlated with commodity prices, the Chinese economy, the Baltic Dry index and other measures of global trade. (The Economist)
Oil drops on demand doubts Nov 14, 2009
A weak dollar has bolstered commodity prices over the past two years as investors purchased raw materials as an alternative investment. The dollar traded at $US1. (Sydney Morning Herald -- Business)
* Brazils deforestation sees biggest drop in 20 years Nov 14, 2009
But the main factor is the drop in commodity prices, which are the main factor in speeding up or slowing deforestation ... But the main factor is the drop in commodity prices, which are the main factor in speeding up or slowing deforestation. (Taipei Times, Taiwan -- World Business)
Britain Faces Long Road to Recovery Nov 13, 2009
5 per cent and higher commodity prices feed through, before price increases again subside to 1 per cent.. Mr King promised that the Bank would "see through" such volatility a sentiment welcomed by David Kern, the chief economist at the British Chambers of Commerce, who said: "It is important that legitimate worries over medium-term inflation risks do not become the trigger for an unduly early withdrawal of the quantitative easing programme. The risk of a double-dip recession remains serious.". (BusinessWeek)
Xtreme Coil Achieves Record Third Quarter EBITDA and Operating Days and Provides Update Nov 13, 2009
These factors include, but are not limited to: the cyclical nature of drilling market demand, currency exchange rates, and commodity prices; access to credit and to equity markets; the availability of qualified personnel; competition for customers from other drilling contractors, labour and vendor-provided rig components ... Management considered the following risk factors when preparing the MD&A: fluctuations in crude oil and natural gas commodity prices, supply and demand; fluctuation in... (CCNMatthews Press Releases)
Argosy Energy Inc. Announces Third Quarter Results Nov 13, 2009
Recent market events, including disruptions in credit markets and other financial systems and the deterioration of global economic conditions have resulted in significant declines in commodity prices ... The available borrowing limits of the Company's credit facilities are based on the Bank's interpretation of the Company's reserves and future commodity prices of which there can be no assurance that such amount will not decrease at the next scheduled review to be completed on or before April 1,... (CCNMatthews Press Releases)
Brazil: Big drop in Amazon deforestation Nov 13, 2009
Government cites its policies; conservationists cite low commodity prices ... Commodity prices a factor ... "But the main factor is the drop in commodity prices, which are the main factor in speeding up or slowing deforestation.". (MSNBC -- International)
