By Mike Caggeso Associate Editor The Toronto Stock Exchange gained a whopping 477.22 points yesterday (Tuesday), reversing most of Monday's losses – a 3.93% gain and its best daily performance in five years – after the Bank of Canada cut its main interest rate by a quarter point to 4%. The Canadian dollar also rose […]
Archives for January 2008
January 2008 - Page 5 of 15 - Money Morning - Only the News You Can Profit From
Foreign Markets Starting to Look Bearish
Domestic indices had a wild ride yesterday, but foreign exchanges have been volatile over the past few days. Most every major foreign exchange tumbled Monday. Some struggled to regain their footing yesterday [Tuesday] while others continued their downward decline. Here's a deeper look: Region % Change 1/21 % Change 1/22 Year To Date […]
Fed Fans Optimism and Fears With Surprise Rate Cut
By William Patalon III Executive Editor Money Morning/The Money Map Report Faced with plunging markets abroad and intensifying recession fears here at home, the U.S. Federal Reserve yesterday (Tuesday) slashed its benchmark interest rate by three quarters of a percentage point, its single-biggest reduction in nearly 25 years. In a related development yesterday, the Bush […]
Four Ways to Profit as You Keep the Bear at Bay
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report We didn't get the 500-point drop in the Dow Jones Industrial Average that we appeared headed for yesterday, but that doesn't mean we're out of the woods. The U.S. Federal Reserve is of the opinion that an emergency-rate cut of three quarters of a percentage […]
World Indices Nosedive - U.S. Markets Could Follow
By Jennifer Yousfi Managing Editor Trading yesterday in Europe and Asia was brutal. While the U.S. markets were closed in observance of Martin Luther King Day, global indices took tremendous one-day hits that plunged some past the 20% bear market indictor. After the markets closed, U.S. futures contracts were pricing in a major decline for […]
Four Ways to Profit Even if the Bush Stimulus Plan is a Bust
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report Show me an effective Bush Administration economic stimulus package and I'll show you a finger-friendly Cuisinart. Who does President George W. Bush think he's kidding? The $600 bucks he wants to hand out isn't going to do squat – and the securities markets know it, […]
Global Investing Roundup
Vale Digs Xstrata; Vodaphone Expands In India; Ping An Bolsters War Chest; Israel Goes Green; Halliburton Inks a Deal with PeMex; U.K. Bails Out Northern Rock; Nautilus Opens Up a Credit Line Vale (RIO), the world's largest producer of iron ore, said it has held talks to buy mining rival Xstrata PLC for a proposed […]
Kazakhstan Squeezes the Last Drop Out of Eni
By Jason Simpkins Associate Editor After months of discussion and management restructuring, work at one of the world's largest oil fields is set to continue. Under the terms of a new agreement Eni S.p.A (E), the Italian oil company, will cede its control over operations at the Kashagan oil field in Kazakhstan. Kazakhstan's state oil […]
Two Media Dynasties Converge with Proposed $2.9 Billion Consolidated Buyout
By Mike Caggeso Associate Editor Consolidated Media Holdings Ltd., Australia's second-largest media company, is entertaining a very generous buyout offer from Lachlan Murdoch, eldest son of media tycoon Rupert Murdoch, and James Packer, Australia's richest person and son of late media tycoon Kerry Packer. The duo offered $2.9 billion to privatize Consolidated Media, which is […]
Sears Breaks up Assets, Hints at Partial Sale
By Mike Caggeso Associate Editor Sears Holdings Corp. (SHLD) moved one step closer to selling individual units of its assets by dividing them up into independently operated businesses. The reorganization, first reported Saturday in the Wall Street Journal, led the company to issue a statement confirming the strategy. "We are introducing an organizational structure that […]