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Traders Thread - Thursday 29th January (AZN)
Crocodile - 28 Jan 2004 23:13
| UK PreMarket Futures | FTSE -36 | DAX -44 | DOW +33 | S&P +9 | Nasdaq +5 |
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US Stocks tumbled after the Federal Reserve changed the language in its outlook for interest rates, sparking worry among investors about when the central bank might start raising rates House prices in Britain rose 0.7 percent on the month in January and by 14.3 percent on a year earlier, the Nationwide building society said. London Stock Exchange said third-quarter turnover rose seven percent to 63.3 million pounds from a year ago, despite tough conditions. Although the exchange said primary market activity picked up, the outlook for the year remains unchanged Amvescap fund manager which is facing U.S. legal action over alleged mutual fund trade abuses, is forecast to post 2003 profits down 24.7 percent after a poll of 10 analysts. They said core year profits, due to be announced on February 3, would reflect hits from the weakness of the U.S. dollar and expectations of weaker fund flows caused by poor investment performance, as well as the U.S. probe.WH Smith expect fireworks at the AGM today. They have tried to appease angry shareholders on today with news that it will begin searching for a new chairman and announced the appointment of a new non-executive director. Also they said that following the sale of its U.S. businesses, it will review its operations in Asia Pacific. Crest Nicholson housebuilder and property developer forecast a more stable UK housing market in 2004 after years of surging prices. It posted a profit rise of 74.6 million pounds up 18 percent for the year at the top end of expectations on Thursday. Analysts on average expected the firm to post profits of between 72-75 million pounds. It said it would boost its final dividend to 7.5 pence, up 16 percent, giving a total year payout of 11 pence. They added that they start the current year with low gearing and an excellent land bank and well positioned to make further progress in the current year. Cable & Wireless telecoms said trading in Q3 was in line with management expectations, with revenues down five percent on a year earlier with revenues 854 million pounds. The firm said it had a net cash balance of 1.6 billion pounds at the end of the period. Autonomy software reported a rise in fourth quarter earnings on Thursday and said it was well-placed to take advantage of a possible change in business climate. They reported revenues of $17 million for the fourth quarter to end-December, while earnings per share rose to $0.02 from $0.01 a year earlier, Annual revenues rose to $54.88 million from $51 million a year ago, against forecasts of around $54.2 million. All in line with analysts forecasts. Canary Wharf: The founder of the British property group conceded he had not gathered the funding necessary to topple a rival, agreed $2.86 billion bid for the owner of the UK's tallest building. Regulatory officials had given Reichmann and Brascan until February 13 to issue a counter-offer. |
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Astrazeneca (F) PBT $4.24bn exp. Osmetech (I) Crest Nicholson (F) PBT 73.2m exp. Autonomy (F), J Sainsbury (Q3), Sportingbet (Q3), London Stock Exchange Trading Statement, WH Smith AGM & Trading Statement Cable & Wireless Q3 Trading Statement Landround (AGM), Next (Update)Gyrus Group (Update) 10.30 Jan GfK consumernfidence Survey 3.0 exp. |
The Dow Chemical (Q4), Honeywell International (Q4), Baxter International (Q4)Verizon communications (Q4), Black & Decker (Q4), Power-One Inc (Q4), Waters (Q4), Guidant (Q4), Eastman Chemical (Q4) Pinnacle West Capital (Q4), Boeing (Q4), Exxon Mobil (Q4), The Gillette (Q4), Halliburton (Q4), Eli Lilly and (Q4), Sears Roebuck and (Q4), Anadarko Petroleum (Q4), Apache (Q4), Ball (Q4), Brunswick (Q4), Coca-Cola Enterprises (Q4), Danaher (Q4), Deluxe (Q4), Duke Energy (Q4) 13.30 Q4 Employment cost Index 0.9% exp. 13.30 Initial Jobless Claims 342k exp. 19.00 Minutes of Dec 9th FOMC Meeting |
Hennes & Mauritz (F) 09.00 Nov M3 3m ma 7.6% exp. |
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little woman
- 29 Jan 2004 16:55
- 21 of 21
LONDON (Dow Jones) Leading international investor George Soros Thursday said he doesn't expect the U.S. Federal Reserve to raise interest rates before Novembers presidential election.
Responding to a question during an appearance at the London School of economics, Soros said U.S. economic policy would be designed to aid President George W. Bush in his reelection campaign. "Karl Rove is in charge of the global economy and has done an extremely good job of pumping it up," he said, referring to the president&aposs top political adviser. "The price will be paid afterwards."
During its meeting Wednesday, the Federal Open Market Committee left interest rates unchanged at 1% but dropped its commitment to keep rates low for a "considerable period." Instead, it said it would be "patient" in tightening policy, a switch that led many market participants to think a rise in interest rates will come sooner than they had previously expected. Prior to the FOMC statement, most market participants expected rates to remain unchanged until August or September.
Soros was promoting his new book, which is critical of the presidents foreign policy. One of the worlds richest individuals, he repeated his offer to provide campaign funding to help unseat Bush, although he declined to say how much he was prepared to spend on the campaign.
Soros said his foundation spends roughly $415 million annually, some $12 million of which is allocated to political activities within the U.S.
"Thats a good ratio and I'd like to keep it there," he said. "But if the need arises I am ready to step in."
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