Defense News: DTN News - FINANCIAL NEWS: Global Markets Jump After Greek Vote Eases Fears
*Global markets jump as Angela Merkel tells election victor Antonis Samaras she is confident Greece will abide by bailout pledges, and world leaders gather in Mexico for the G20.
Source: DTN News - - This article compiled by Roger Smith from reliable sources The Globe & Mail
(NSI News Source Info) TORONTO, Canada - June 20, 2012: Asian stock markets were up sharply Monday after elections in Greece eased fears of global financial turmoil, but analysts warned that the economic crisis shaking the 17 nations that use the euro was far from over. Stock markets rejoiced at the narrow victory by Greek conservatives who favour upholding an austerity program that their recession-mired country entered into in exchange for a financial bailout from international lenders.
Tokyo’s benchmark Nikkei 225 index was up 1.9 per cent at 8,731.57. Hong Kong’s Hang Seng rose 1.6 per cent to 19,548.83. Australia’s S&P/ASX200 added 1.8 per cent to 4,129.20 and South Korea’s Kospi rose 2.1 per cent at 1,897.62.
On Wall Street, Dow Jones industrial average futures were up 62 points on Sunday night, suggesting the market could open higher Monday. The euro rose to $1.2700 (U.S.) from $1.2637 late Friday in New York. The U.S. dollar rose to 79.22 yen from 78.71 yen.
The New Zealand and Australian dollars were also higher. Both currencies typically rise when investors have more appetite for risk. The Australian dollar was trading above $1.01 and the New Zealand dollar was trading above 79 cents.
Masahiro Yamaguchi, a manager at Mizuho Securities Co. in Tokyo, said the perk in Tokyo stocks came from a sense of relief that the worst had been avoided in Greece.
“There’s is a rebound simply because the risks are now reduced,” he said. “There’s a sense that, at least, things are okay for now. The solution is far from basic.”
On Sunday, pro-bailout parties in Greece won enough seats to form a coalition government.
Greece has been dependent on rescue loans to operate since May 2010, after it was shut out of international markets following years of profligate spending and falsifying financial data.
The country is mired in a fifth year of recession, with unemployment spiralling above 22 per cent and tens of thousands of businesses shutting down.
Greece had to agree to austerity measures to get its bailout. Measures included deep spending cuts on everything from health care to education and infrastructure as well as tax hikes and cuts in salaries and pensions. Anger at the measures has sent Greeks into the streets in frequent strikes and protests, some of them violent.
Some analysts said the election results could overstate the willingness of Greeks to embrace austerity.
“Overall, the Greek election result, while welcome, does not imply that the Greek people are embracing the tough reforms tied to the bailout package. It merely meant that fear overruled anger,” analysts at DBS Bank Ltd. in Singapore wrote in a market commentary.
No one is sure how bad a Greek exit from the euro would have been. Greece would almost have certainly defaulted on its debt, triggering losses for European banks that own its government bonds. The outcome of the election, however tenuous, gives Greece a chance to breathe life into its moribund economy.
“It will be tough, but Greece will survive because I think the tourist industry and the agriculture sector will help it recover from its dire straits right now,” said Francis Lun, managing director of Lyncean Holdings in Hong Kong.
Japanese vehicle makers soared on hopes that Europe, a huge export market, would avoid deepening economic turbulence. Mazda Motor Corp. jumped 4 per cent and Yamaha Motor Co. gained 4.5 per cent.
Steelmakers and shipyards also gained ground. South Korea’s top shipbuilder, Hyundai Heavy Industries, rose 3.1 per cent. Japan’s JFE Holdings Inc. added 4 per cent and Kobe Steel rose 3.3 per cent.
Samsonite International SA rebounded 5.8 per cent after it issued a statement saying its luggage is safe, following a Hong Kong Consumer Council report last week that found carcinogens in the handles of some models, which caused its shares to dive 16 per cent.
But stock market operator Hong Kong Exchanges and Clearing Ltd. fell 2.8 per cent as investors worried a $2.2-billion bid announced last week for the London Metal Exchange was too high.
Benchmark oil for July delivery was up 91 cents to $84.94 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 12 cents to end at $84.03 a barrel in New York on Friday.
DTN STOCK MARKET
*Link for This article compiled by Roger Smith from reliable sources The Globe & Mail
*Speaking Image - Creation of DTN News ~ Defense Technology News
*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News Contact:dtnnews@ymail.com
©COPYRIGHT (C) DTN NEWS DEFENSE-TECHNOLOGY NEWS
*Global markets jump as Angela Merkel tells election victor Antonis Samaras she is confident Greece will abide by bailout pledges, and world leaders gather in Mexico for the G20.
Source: DTN News - - This article compiled by Roger Smith from reliable sources The Globe & Mail(NSI News Source Info) TORONTO, Canada - June 20, 2012: Asian stock markets were up sharply Monday after elections in Greece eased fears of global financial turmoil, but analysts warned that the economic crisis shaking the 17 nations that use the euro was far from over. Stock markets rejoiced at the narrow victory by Greek conservatives who favour upholding an austerity program that their recession-mired country entered into in exchange for a financial bailout from international lenders.
On Wall Street, Dow Jones industrial average futures were up 62 points on Sunday night, suggesting the market could open higher Monday. The euro rose to $1.2700 (U.S.) from $1.2637 late Friday in New York. The U.S. dollar rose to 79.22 yen from 78.71 yen.
The New Zealand and Australian dollars were also higher. Both currencies typically rise when investors have more appetite for risk. The Australian dollar was trading above $1.01 and the New Zealand dollar was trading above 79 cents.
Masahiro Yamaguchi, a manager at Mizuho Securities Co. in Tokyo, said the perk in Tokyo stocks came from a sense of relief that the worst had been avoided in Greece.
“There’s is a rebound simply because the risks are now reduced,” he said. “There’s a sense that, at least, things are okay for now. The solution is far from basic.”
On Sunday, pro-bailout parties in Greece won enough seats to form a coalition government.
Greece has been dependent on rescue loans to operate since May 2010, after it was shut out of international markets following years of profligate spending and falsifying financial data.
The country is mired in a fifth year of recession, with unemployment spiralling above 22 per cent and tens of thousands of businesses shutting down.
Greece had to agree to austerity measures to get its bailout. Measures included deep spending cuts on everything from health care to education and infrastructure as well as tax hikes and cuts in salaries and pensions. Anger at the measures has sent Greeks into the streets in frequent strikes and protests, some of them violent.
Some analysts said the election results could overstate the willingness of Greeks to embrace austerity.
“Overall, the Greek election result, while welcome, does not imply that the Greek people are embracing the tough reforms tied to the bailout package. It merely meant that fear overruled anger,” analysts at DBS Bank Ltd. in Singapore wrote in a market commentary.
No one is sure how bad a Greek exit from the euro would have been. Greece would almost have certainly defaulted on its debt, triggering losses for European banks that own its government bonds. The outcome of the election, however tenuous, gives Greece a chance to breathe life into its moribund economy.
“It will be tough, but Greece will survive because I think the tourist industry and the agriculture sector will help it recover from its dire straits right now,” said Francis Lun, managing director of Lyncean Holdings in Hong Kong.
Japanese vehicle makers soared on hopes that Europe, a huge export market, would avoid deepening economic turbulence. Mazda Motor Corp. jumped 4 per cent and Yamaha Motor Co. gained 4.5 per cent.
Steelmakers and shipyards also gained ground. South Korea’s top shipbuilder, Hyundai Heavy Industries, rose 3.1 per cent. Japan’s JFE Holdings Inc. added 4 per cent and Kobe Steel rose 3.3 per cent.
Samsonite International SA rebounded 5.8 per cent after it issued a statement saying its luggage is safe, following a Hong Kong Consumer Council report last week that found carcinogens in the handles of some models, which caused its shares to dive 16 per cent.
But stock market operator Hong Kong Exchanges and Clearing Ltd. fell 2.8 per cent as investors worried a $2.2-billion bid announced last week for the London Metal Exchange was too high.
Benchmark oil for July delivery was up 91 cents to $84.94 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 12 cents to end at $84.03 a barrel in New York on Friday.
DTN STOCK MARKET*Link for This article compiled by Roger Smith from reliable sources The Globe & Mail
*Speaking Image - Creation of DTN News ~ Defense Technology News
*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News Contact:dtnnews@ymail.com
©COPYRIGHT (C) DTN NEWS DEFENSE-TECHNOLOGY NEWS
Posts
Tucson AZ, it is one of the fastest growing "High-tech" business communities in the nation. With this fast growth comes a greater demand for flexible, scalable, Tucson Tax Preparation feature rich, customizable, and economical options for business class data and voice solutions.
ReplyDeleteIf conceivable, as you clear knowledge, would you mind updating your blog with more information? It is damned helpful in return me. Happy Friendship Day SMS Collection 2018
ReplyDeleteThis Is An Amazing Piece Of Knowledge Thanks Happy Fathers Day Quotes
ReplyDeleteI really like your blog site.. excellent shades & style. Do a person pattern this excellent website oneself or even have people hire an attorney to make it happen available for you? Plz answer while I!|m seeking to style and design my very own blog as well as would wish to learn where u obtained this specific out of. thanks a lot Happy Friday Good Vibes Quotes
ReplyDeleteThere are some interesting deadlines on this article but I don’t know if I see all of them middle to heart. There is some validity but I’ll take maintain opinion till I look into it further. Good article , thanks and we wish extra! Added to FeedBurner as well Easter Meaning Before Christianity
ReplyDeleteR&B music is my favorite stuff, pop music is great too but R&B is the best’ Father Day Quotes For Gift Tags And Registration
ReplyDeleteGreat ¡V I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related info ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Excellent task.. Read More
ReplyDeleteNo credit check student loans are available even if you have either no credit or less than stellar credit. While it will be difficult sky payday loan secure a private loan with bad credit, there are options if you are willing to pay the price. Alternatively, there are federal programs available through which you may be able to apply for a no credit check student loan.
ReplyDeleteRunning any business alone can be self-fulfilling for every entrepreneur but equally as tough and impossible to successfully manage. With this in mind, hiring a business coach is always a smart move because the opinion of an expert enables and facilitates businesses to reach their full potential. The business coaching industry in the US has grown in recent decades convert currency a worth of over $12 billion highlighting its impact and the need to find the best business coach for your business so as to unlock maximum potential.
ReplyDeletejobs for high school students - Search for Jobs on our website, we provide several good links to the best and biggest Portals to getting a Job as a high school student! cost of driveworks
ReplyDeletewoh I enjoy your articles , saved to bookmarks ! . 먹튀사이트
ReplyDeleteThank you for sharing excellent informations. Your website is very cool. I”m impressed by the details that you’ve on this website. It reveals how nicely you perceive this subject. Bookmarked this website page 먹튀검증
ReplyDeleteA bitcoin is the same as currency, though it is digital in form. You can save it, invest it and spend it. Crypto-currency once circulated the market and gave rise to the Bitcoin. This started in 2009 by an anonymous person with a nickname of Satoshi Nakamoto. The bitcoin has gained popularity during this year as its rate jumped from $2 to $266. bitcoin trading
ReplyDeleteSo you have an affiliate business but it's not really delivering. You persist anyway out of stubbornness to all those people who told you to give up! In the back of your mind you catch yourself thinking "Am I wasting my time with this?". Bitcoin news
ReplyDeleteStarting up a Coffee Shop or any Coffee related business such as a Sandwich Bar, Deli, Takeaway Fast Food Outlet has to be given the same consideration as any business venture. This article is meant to be a "Basic Guide" to give you some things to think about when wanting to start a Coffee business. It's not meant to be a "Step by Step Guide". Detailed planning is going to be unique to your circumstances and should be discussed with your Business advisors, Accountant and Bank. berita sumut terkini
ReplyDeleteThis seems to be the age of the entrepreneur, with small startups such as Facebook and Twitter proving that small businesses can grow - potentially exponentially with the right resources. Unfortunately, success stories like Facebook are rare in the small business world, with over half of small businesses failing within five years of their startup, mainly due to lack of funding. As any small business or entrepreneur knows, funding is one of the most difficult parts of starting a... 9janews
ReplyDelete