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Jan 10, 2014

MarketWatch | European Markets at Close Report January 10, 2014: European stocks ended higher on Friday and rose for the week.

By Barbara Kollmeyer, MarketWatch 
MADRID (MarketWatch) — European stocks ended higher on Friday and rose for the week, with Swatch Group AG and Deutsche Lufthansa AG among the shares posting the biggest gains.
The Stoxx Europe 600 XX:SXXP +0.47%  rose 0.5% to end at 329.95, leaving it up 0.7% for the week. The benchmark pared some intraday gains after data showed the U.S. economy added 74,000 jobs in December, the smallest rise since the beginning of 2011. The more optimistic forecasters expected a rise of 200,000 or higher.

The unemployment rate fell to 6.7% as more people dropped out of the workforce.


Chinese cars face roadblocks at home and abroad
The Detroit auto show starts next week—and for the first time since 2006, no Chinese car maker will be exhibiting its wares.


Deutsche Lufthansa DE:LHA +8.47%jumped nearly 9% after the German airline said it sees lower fuel and restructuring costs for 2014.
Shares of Swiss watch group SwatchCH:UHR +3.55% rose 3.6%. Swatch missed its 2013 gross-sales target, but said2014 was looking positive and all brands had gotten off to a strong start in January. Related stocks also rose, with luxury-eye-wear company Luxottica Group SpA IT:LUX +1.98% up 2% and luxury-goods group Compagnie Financiere Richemont SA CH:CFR +3.97% up 4%.
Metro AG DE:MEO +1.69%  shares rose 2.8%. Media reports pointed to a report in Platow Brief, a business newsletter, that said Franz Haniel & Cie, which has a 30% stake in the German retailer, may push it to sell a couple of units. Metro’s chief executive officer reportedly opposes those sales, and the report said his contract may not be renewed this year. A spokesman for the companies could not be reached for comment.
The European Central Bank left monetary policy unchanged on Thursday and its president, Mario Draghi, pledged to take further easing action if needed, but investors were left disappointed by no concrete plans from Draghi to curb the deflation risk for the euro zone.
Stocks in Europe have been drawing more investors and borrowing costs for peripheral areas have been declining on the view that the economic recovery is taking hold. European stocks were underpinned Friday by data that showed French industrial production rose 1.3% in November, well beyond what forecasters had projected.
“I see the move today as related to two things,” said Stephen Pope, managing partner at Spotlight Ideas. “Yesterday, the ECB stayed by the mantra that in the medium term, the economy will make positive improvements. I find the more compelling factor being earnings and outlooks that have been issued by several major names in the past few days.” Companies such as Swatch are an example of that, he said.
Gainers far outweighed decliners, but Carlsberg AS DK:CARLB -0.60%  was among the stocks moving south. It dropped 0.6% after Goldman Sachs cut the brewer to sell from neutral, citing dilutive mergers and acquisition risk, and exposure to structurally weak European economies.

Bloomberg
The German DAX 30 index DX:DAX +0.55% DX:DAX +0.55%DX:DAX +0.55% DX:DAX +0.55% rose 0.6% to 9,473.24, while the French CAC 40 index FR:PX1 +0.60%  added 0.6% to 4,250.60.
The U.K.’s FTSE 100 index UK:UKX +0.73% rose 0.7% to 6,739.94 as HSBC Holdings PLC UK:HSBA +1.12%   HSBC +1.07% gained 1.1%.
Among drug stocks, Novartis AG CH:NOVN +1.18%   NVS -0.02% gained 1.2% and Roche Holding Ltd. CH:ROG +0.51%    RHHBY -0.48%  rose 0.5%.
Shares of BP PLC BP +0.39%   UK:BP +0.34% shook off a downgrade from Exane BNP Paribas, which cut it to neutral from overweight, along with Total SA TOT +1.02%  FR:FP +0.55% . BP rose 0.3% and Total added 0.6% as oil prices pushed higher.
Royal Dutch Shell PLC RDS.A +1.80%   UK:RDSA +2.10%  gained 2.1% after Exane analysts lifted shares to outperform from neutral.

More stories from MarketWatch:


Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter@bkollmeyer.

The Economist | Insights Weekly Digest January 10,2014: What are the risks and rewards of operating in the Arctic?

The Economist

The Economist
Weekly Digest
Issue #9
In this week’s issue we examine how global capital markets will evolve to 2030, we consider how we can drive towards cleaner road transport, and we invite you to London to discuss the future of the Arctic.
Analysis

By 2030 global capital markets will have greater depth, efficiency, and liquidity. Capital markets to 2030, a Global Financial Institute paper written by the EIU, examines how global capital markets will evolve, how the industry expects a range of today's issues to play out and some of the implications of such developments for tomorrow.



flu image
he hype and the hope Capital Confidence Barometer
Read more →
report image The CFO Future Series
Read more →
report image Transforming cities: Visions of a better future
Read more →
report image The impact of ageing infrastructure in process manufacturing industries
Read more →
View all analysis >>

Opinion
logo Moving out of the forbidden zone
Road transport is a key facilitator of trade and access to jobs, services and social interaction in general, but it is also creating visible strains on the environment, on urban space and safety.

José Viegas, Secretary-general, International Transport Forum, OECD
Read the full article>>
report image Future-proofing Europe’s healthcare
Read more →
report image Much work to be done improving Indonesia’s infrastructure
Read more →
report image Emerging markets still challenge marketers
Read more →
report image Promoting women in science
Read more →
View all opinions >>
Upcoming events
event banner
What are the risks and rewards of operating in the Arctic? With global demand for resources growing, many eyes are on the potential of the Arctic. It has been estimated that the region holds 22% of the world’s undiscovered oil and gas, and it is rich in rare earth minerals. Meanwhile, receding sea ice is opening up possibilities for increased shipping activity. But both set alarm bells ringing among environmentalists about what this means for an already fragile environment. The development of the Arctic will have global consequences. Taking place on March 4th 2014 in London it will bring together 200 senior-level stakerholders to debate the future of this critical region.

Allan Evans James Astill
Political Editor,
The Economist
Sir Brian Hoskins Sir Brian Hoskins
Director, Grantham Institute for Climate Change,
Imperial College London
Alexander Shestakov Alexander Shestakov
Group Director Global Arctic Programme,
World Wildlife Fund
Lars-Eirc Aaro Lars-Eirc Aaro
Chief Executive Officer,
Luossavaara-Kiirunavaara AB
Discover more >>
Discover more >>
JAN
15
2014
Indonesia Summit 2014
Jakarta, Indonesia
See more →  

JAN
28
2014
Redefining the Digital Divide
Webinar
See more →  

FEB
13
2014
Feeding the World 2014
London
See more →  
 
FEB
18
2014
The Lisbon Summit
Cascais, Portugal
See more →  

FEB
26
2014
The Kenya Summit 2014
Nairobi, Kenya
See more →  
FEB
27
2014
The Insurance Summit 2014
London
See more →  

View all upcoming events >>

FRB | Press Release January 10,2014: Reserve Bank income and expense data and transfers to the Treasury for 2013

Board of Governors of the Federal Reserve System

Press Release

Release Date: January 10, 2014

For immediate release

The Federal Reserve Board on Friday announced preliminary unaudited results indicating that the Reserve Banks provided for payments of approximately $77.7 billion of their estimated 2013 net income to the U.S. Treasury. Under the Board's policy, the residual earnings of each Federal Reserve Bank are distributed to the U.S. Treasury, after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

To read full release click: 


http://www.federalreserve.gov/newsevents/press/other/20140110a.htm

FDIC | Money Smart January 10, 2014: The Summer/Fall 2013 Issue of Money Smart News is available



FDIC

The Summer/Fall 2013 Issue of Money Smart News is available. In this isssue you will find:  


  • Message from the FDIC
  • Our Latest Success Story: Teamwork Helps Educate At-Risk Students on Financial Services
  • The New Money Smart Idea Exchange: Teaching Tips You Can Use
  • FDIC Unveils Enhanced Money Smart Podcast Network
  • The FDIC and CFPB Collaborate on Financial Education Resource for Older Adults
  • FDIC Newsletter Features Financial Tips and Information for Seniors
  • Tips from the FDIC on Banking in a High-Tech World
  • It's Not Too Late to Benefit from the FDIC's September 10 Webinar on Offering Financial Education
  • FDIC Advisory Committee Discusses Initiatives to Expand Access to Banking Services
  • Enhanced Web Site for Federal Financial Education Resources
  • Financial Literacy and Education Commission Public Meeting
  • Wanted: Your Success Stories for the Money Smart Elementary School Resource

November 2013 wholesale inventories were $516.4 billion, up 0.5 percent from the revised October level and up 3.3 percent from November 2012: ESA | Monthly Wholesale Trade (November 2013).pdf.

Economics and Statistics Administration Logo


November 2013 wholesale inventories were $516.4 billion, up 0.5 percent from the revised October level and up 3.3 percent from November 2012. Sales were $440.1 billion, up 1.0 percent from the revised October level and up 5.5 percent from November 2012. 

Financial and Forex Info | Kitco Latest Gold News January 10, 2014.




Latest Gold NewsNY Time
Economists See 3% GDP Growth Falling Jobless Rate In 2014 - Kitco News, Jan 10 2014 9:01AM
URGENT: U.S. creates 74,000 nonfarm jobs in Dec., jobless rate drops to 6.7% - Japan Economic Newswire, Jan 10 2014 8:55AM
Canadian Press NewsAlert: Statistics Canada Says 45,900 Jobs Lost In December - Canadian Press DataFile, Jan 10 2014 8:43AM
Barclays: China's Commodity Imports End 2013 Strongly - Kitco News, Jan 10 2014 7:38AM
Gold Miners 4Q Results May Beat Expectations: Brent Cook - Kitco News, Jan 9 2014 3:51PM
Rossouw to stay on as EIUG chair despite move to Hatch Goba - Mining Weekly (South Africa), Jan 10 2014 9:02AM
S&P 500 Futures Pare Gains as Treasuries Rally on Jobs - Bloomberg Business News, Jan 10 2014 8:59AM
Argentina lobbies to overturn Barrick’s Pascua Lama freeze in Chile - MINING.com, Jan 10 2014 8:59AM
Payrolls Rise Less Than Forecast; U.S. Jobless Rate at 6.7% - Bloomberg, Jan 10 2014 8:49AM
European Stocks Rise; Stoxx 600 Surrenders Some Gains - Bloomberg Business News, Jan 10 2014 8:47AM
U.S. stock futures turn lower after jobs data - MarketWatch, Jan 10 2014 8:41AM
PRECIOUS-Gold edges up on flat dollar ahead of U.S. jobs report - Reuters, Jan 10 2014 7:09AM
Manappuram expects faster gold loan growth as RBI eases rules - Mineweb (South Africa), Jan 10 2014 8:38AM
Gold Market Awaits U.S. Jobs Report; Is QE Tapering Already Priced in? - Kitco News, Jan 9 2014 11:08AM

RTTNews Market Briefing January 10, 2014.

Commentary January 10, 2013.
Stocks futures have pulled back off their highs following the release of the monthly jobs report but currently continue to point to a higher open for the markets on Friday. The Dow futures are up by 33 points, while the Nasdaq futures are up by 8.75 points. (Jan 10, 2014) Full Article 
Economic News
China's exports growth eased more than expected in December, while imports beat expectations signaling robust domestic demand, the latest figures released by the General Administration of Customs showed Friday. As a result, the trade surplus missed forecast sharply at the end of the year. Exports grew 4.3 percent year-on-year in December, slower than a 5 percent expansion forecast by economists. (Jan 10, 2014) Full Article
British industrial output remained flat in November and construction output logged the sharpest decline so far in 2013, confounding recent survey data that underscored robust activity in the fourth quarter. Industrial production remained unchanged in November compared with the previous month, the latest figures from the Office for National Statistics showed Friday. (Jan 10, 2014) Full Article
Employment in the U.S. increased by much less than expected in the month of December, according to a report released by the Labor Department on Friday. The report said non-farm payroll employment edged up by 74,000 jobs in December following an upwardly revised increase of 241,000 jobs in November. (Jan 10, 2014) Full Article
Broker Ratings Changes
FBR Capital Markets Cuts TRI Pointe Homes, Inc. (TPH) To Market Perform From Outperform With $19 down from $21 Price Target
(Jan 10, 2014)  
FBR Capital Markets Lifts Cloud Peak Energy Inc. (CLD) To Outperform From Market Perform With $24 Price Target
(Jan 10, 2014) 
FBR Capital Markets Lowers Las Vegas Sands Corp. (LVS) To Market Perform From Outperform With $85 Price Target
(Jan 10, 2014)  
Janney Montgomery Scott Cuts Pacific Sunwear Of California Inc. (PSUN) To Neutral From Buy With $3 Price Target
(Jan 10, 2014)  
Janney Montgomery Scott Upgrades Abercrombie & Fitch Co. (ANF) To Buy From Neutral With $49 Price Target
(Jan 10, 2014)  
Todays WS Events
Infosys Q3 14 Earnings Conference Call At 8:30 AM ET
Infosys Ltd (INFY) will host a conference call at 8:30 AM ET January 10, 2014, to discuss its Q3 14 earnings results. To access the live webcast, log on at http://www.infosys.com A call can be accessed by dialing 1-866-746-2133 or 1-323-386-8721. For replay a call, dial +1-877-344-7529 (US) or +1-412-317-0088 (International); passcode: 4636#. (Jan 10, 2014) 
Park Electrochemical Q3 14 Earnings Conference Call At 11:00 AM ET

Park Electrochemical. (PKE) will host a conference call at 11:00 AM ET on January 1, 2014, to discuss its Q3 14 earnings results. To access the live webcast, log on at www.parkelectro.com/investor/investor.html To hear the live call, dial (800) 688-0836 (US) or (617) 614-4072 (Intl) with passcode is 30855831. A replay of the call can be heard by dialing (888) 286-8010 (US) or (617) 801-6888 (Intl) with passcode 37416065 (Jan 10, 2014)