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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (25887)	3/18/2005 9:54:14 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

OPEC ready to pump more than 30 mln bpd in Q4 - president Thursday, March 17, 2005 2:38:02 PM afxpress.com KUWAIT CITY (AFX) - OPEC president Sheikh Ahmad Fahd al-Sabah said the cartel is prepared to pump more than 30 mln barrels per day in the fourth quarter to meet growing demand

To: Knighty Tin who wrote (25887)	3/18/2005 10:21:20 AM
From: mishedlo	Respond to of 116555

ROUNDUP - Trio of UK mortgage data come in mixed, outlook points to stability Friday, March 18, 2005 12:19:12 PM afxpress.com LONDON (AFX) - The trio of mortgage lending data for February out this morning came in mixed but the outlook for the housing market is one of stability. The British Bankers' Association, members of which account for about two thirds of all mortgages taken out in the UK, said mortgage lending in February increased by more than its average over the last six months. Meanwhile, in a glimpse of what is to come in coming months, the Building Societies Association said mortgages approved but not yet taken out hit their highest level since last August Data from the Council of Mortgage Lenders stood alone. It said that loans for house purchases in February were at their lowest since January 2002 Ed Stansfield at Capital Economics pointed out that despite the different outcomes, the latest readings are still well below levels seen in February a year ago "Today's data are consistent with a sustained slowdown in activity and further downward pressure on average house prices in the coming months," he added Analysts believe the housing market has been quiet because of a lack of first time buyers but noted that Chancellor's Gordon Brown's decision to exempt properties under 120,000 stg from stamp duty may bring some into the market An increase in activity over the next few months may be at hand but the overall impact on house prices are likely to be limited, as the 120,000 threshold is too low for many parts of the country, including London. The outlook then is for a stable housing market, the CML for one expects house prices to rise 4 pct this year, a far cry from the 20 pct figure over the past few years