Wednesday, February 13, 2008

Financials Daily - 13th Feb 2008

US: U.S. stocks rose for a second day, led by financial shares, on expectations Warren Buffett, the world's No. 1 investor, will help stem credit losses by offering to shore up the municipal bond market.

Europe: European stocks advanced the most in two weeks after Warren Buffett offered to assume liabilities of some bond insurers and investors speculated a plan to help U.S. borrowers will shore up the economy.

Asia: Asian stocks advanced for the first time in three days, led by BHP Billiton Ltd. and Inpex Holdings Inc. after oil and metals prices climbed.

Commodities: Crude oil was little changed in New York after falling yesterday for the first time in four days on forecasts that a government report will show U.S. stockpiles increased for a fifth week. Gold futures fell the most in a week as a rally in equities reduced the appeal of the precious metal as an alternative investment. Silver also declined.

Currencies: The dollar may fall for a fourth day against the euro on speculation a government report will show U.S. retail sales dropped in January, bolstering speculation the economy is headed for a recession.
Source: Bloomberg

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