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KEVIN CARMICHAEL
WASHINGTON— From Saturday’s Globe and Mail
Published Friday, Oct. 01, 2010 6:29PM EDT
Last updated Friday, Oct. 01, 2010 6:40PM EDT
(Read the Rest of the Article…)
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Don
FOREX
| Currency, Commodity Markets |
| TSX Set To Open Higher Amid Firm Global Cues
Bay Street stocks may open higher Friday amid firm commodities prices after China reported a strong manufacturing growth in August. Positive cues from the global equity market might also lift trader sentiment. On Thursday, the S&P/TSX Composite Index eased 14.16 points or 0.11% to 12,368.65, a day after rising to its highest level in 2 years. The price of crude oil moved up to a fresh two month high after a reading on China’s purchasing managers’ index came in better than expected. Crude for November was up $1.35 to $81.32 a barrel. |
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Don
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Other Markets
Overseas, stock markets in the Asia-Pacific region ended mostly higher on Friday. Japan’s benchmark Nikkei 225 Index gained 0.4 percent, while India’s BSE 30 Index advanced by 1.9 percent. The Chinese markets were closed on the day.
Meanwhile, the major European markets are mixed. The U.K.’s FTSE 100 Index is up by 0.6 percent, while the French CAC 40 Index and the German DAX Index are down by 0.9 percent and 0.4 percent, respectively.
In the bond markets, treasuries are little changed. The yield on the benchmark ten-year note is holding near the flat line at 2.515 percent.
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Don
The major market indexes notched minor gains on the first day of the fourth quarter
by Elizabeth Harrow (eharrow@sir-inc.com) 10/1/2010 4:20 PM
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Don
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CHICAGO, Oct 1 (Reuters) – Nasdaq OMX Group’s (NDAQ.O) combined market share from its two venues edged out its biggest rivals for the top spot in options trading in September, according to figures from the Options Clearing Corp on Friday.
Both the Chicago Board Options Exchange and the International Securities Exchange said their market shares were hurt by the inclusion in overall industry figures of a specialized trading strategy known as dividend trades.
ISE is an all-electronic exchange and does not offer such trades. It has criticized the so-called dividend trades as providing little economic value and hurting market integrity.
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Don
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Fri Oct 1, 2:28 PM
TORONTO (Reuters) – The Canadian dollar rose against the U.S. currency on Friday to its strongest level in eight weeks as the greenback slid after comments by a U.S. Federal Reserve official raised expectations of quantitative easing.
At 2:08 p.m. , the Canadian dollar was at $1.0190 to the U.S. dollar, or 98.14 U.S. cents, its strongest level since August 6. On Thursday, the currency closed at $1.0290 to the U.S. dollar, or 97.18 U.S. cents.
(Reporting by Jennifer Kwan; editing by Peter Galloway)
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Don
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GLOBAL STOCKS INDEXES OVERVIEW OCT 5TH Mid-Day GMT
(Wall Street Sector Selector, 10/5/10)
[BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +13.80. Futures for the S&P 500 continue to trade with strength, but they still aren’t back to their early morning highs. Meanwhile, Germany’s DAX has recovered from a recent slip to trade with a 0.5% gain as advancers have come to outnumber declining issues by about 3-to-2. Thyssenkrupp is atop the list of leading issues, but BMW is among the lagging movers. The gains come in the face of news Germany’s PMI Manufacturing Index for September slipped to 55.1 from 58.2 in August, and retail sales in the country slipped 0.2% in August after a 0.4% decline in July. France’s CAC is currently flat. Energy giant Total (TOT) and steel outfit ArcelorMittal (MT) have providing support, but their efforts have been offset by weakness in BNP Paribas, LVMH Moet Hennesy, and Sanofi-Aventis (SNY). Britain’s FTSE is up to a 0.9% gain. It is currently led by BP Plc (BP), BG Group, and HSBC (HBC), which was recently added to the Conviction Buy List at Goldman Sachs. “Vice” stocks British American Tobacco and SABMiller have lagged, however. Britain’s PMI Manufacturing Index for September slipped to 53.4 from 54.3 in August. As for the broader eurozone, its PMI Manufacturing Index for September slipped to 53.7 from 55.1 from August. Eurozone unemployment for August held steady at 10.1%. The rate for July was revised upward to 10.1% from 10.0%.In Asia, Japan’s Nikkei advanced 0.3% amid strength in Softbank, Canon (CAJ), and Kyocera (KYO). NTT Data and Sony (SNE) were drags, though. The action comes after the Nikkei closed out September with a 2.4% monthly gain and a fractional loss for the quarter. Data indicated that household spending in August increased 1.7%, which is greater than the 1.1% increase that had been recorded for the same period one year ago. CPI in Japan fell 0.9% during August. That was consistent with the decline one year ago. Japan’s jobless rate came in at 5.1% in August after it stood at 5.2% in July. Trade in China was suspended for holiday observance, but the PMI Manufacturing Index for August was released. It improved to 53.8 from 51.7 in July.
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Don
Latest PMI figures from China boost appetite for higher-risk assets
By Polya Lesova and Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stock futures rose Friday after a Federal Reserve official said further action is likely due from the central bank and the first round of U.S. economic data showed August gains in personal income and spending.
Futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\z10 (DJZ10 10,781, +58.00, +0.54%) advanced 50 points to 10,773 and S&P 500 futures /quotes/comstock/21m!f:sp\z10 (SPZ10 1,144, +7.00, +0.62%) rose 6.70 points to 1,143.4.
Nasdaq 100 futures /quotes/comstock/21m!f:nd\z10 (NDZ10 2,011, +15.00, +0.75%) added 15 points to 2,010.5.
(Read the Rest of the Article…)
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Don
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Union Bank, N.A. | View company’s profile
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Don
Text Size 
Geithner Says No Threat of China Trade War or Currency Wars
U.S. Treasury Secretary Timothy F. Geithner today said he was confident tensions over China’s currency, the yuan, won’t lead to escalating trade sanctions or feed into a broader global currency conflict.
“We’re not going to have a trade war,” Geithner said in remarks to a Washington conference hosted by The Atlantic magazine and the Aspen Institute.
The U.S. House of Representatives this week approved a bill that would let companies petition for duties on imports from China to compensate for the effect of an undervalued yuan. Also this week, Brazilian Finance Minister Guido Mantega warned of a global “currency war” as his country weighs a higher tax on capital inflows.
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Don
