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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (58196)	11/23/2009 12:58:50 AM
From: Haim R. Branisteanu	Respond to of 217879

Romania’s Bucharest Exchange Trading Index has risen 77 percent this year in U.S. dollar terms, including reinvested dividends. The index’s top gainers are oil refinery Rompetrol Rafinare SA, up 281 percent this year, and drugmaker Biofarm Bucuresti SA, up 169 percent. The country’s government collapsed last month after Premier Emil Boc lost a confidence vote amid disagreements over budget cuts, and lawmakers have yet to appoint a new coalition. Hungary’s benchmark Budapest Stock Exchange Index gained 89 percent in dollar terms. The nation’s economy will contract 6.5 percent this year and a further 0.5 percent in 2010, the European Commission said on Nov. 3. Ukrainian Bonds Ukraine’s PFTS Index climbed 107 percent since January, with engineering company Motor Sich JSC rising more than 300 percent, even as political wrangling stalled budget cuts needed to draw the next $3.4 billion tranche of a $16.4 billion IMF loan. The country won’t have enough money to pay for Russian gas ahead of winter unless it gets the bailout payment by Dec. 7. Ukrainian bonds fell the most in the world during the past month. The NTX New Europe Blue Chip Index, the region’s benchmark, has almost doubled since it declined to a five-year low in March. The rally stalled in the past month with the index trading between 1,100 and 1,200. It rose above 1,200 four times in the period and then declined. bloomberg.com

To: TobagoJack who wrote (58196)	11/23/2009 5:12:57 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 217879

WORLD FOREX: Dollar Under Pressure As Risky Bets Resurface By Katie Martin Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Liquidity emerged as the key theme behind currencies trading in European hours Monday, as it became clear that the U.S. and the euro zone are likely to follow sharply different paths in winding down special measures to support the financial system. The European Central Bank put the issue firmly on the agenda at the end of last week, as president Jean-Claude Trichet warned banks against an "addiction" to cheap credit, signalling a first step towards turning off the liquidity taps. By contrast, Federal Reserve Bank of St. Louis President James Bullard said Sunday that he would prefer to keep the central bank's asset-buying program active beyond its current cutoff date. This split in strategies, which hints at further effective easing from the Fed but modest gradual tightening from the ECB, produced a predictable move higher in the euro against the dollar throughout the session. See a chart showing how the euro has performed against the dollar here: dowjoneswebservices.com Analysts at UBS noted that these divergent policy paths are, naturally, broadly supportive for the euro. But they hinted that investors should not expect too much to happen too soon. "We expect any near-term adjustments to be of an extremely modest nature, and to be well signaled in advance," said Gareth Berry, an analyst at the firm in Singapore. Separately, analysts at Commerzbank said that these different stances would make it easy for the euro to move back above $1.50. However, trading volumes are generally thin with holidays in the U.S. and Japan this week, which means that traders appeared reluctant about building large directional bets just yet. On the data front, purchasing managers' index data from the euro zone rose to a two-year high in November, with the composite index encompassing the manufacturing and services sector climbing to 53.7 from 53 in October. The reading was a little stronger than analysts had expected, but they did nothing to move key currencies around. Elsewhere, it was not only the euro that climbed against the dollar. Instead, Bullard's comments appeared to support a broad-based climb in currencies that tend to perform strongly in buoyant risk conditions, like the pound and the Australian and New Zealand dollars. Europe's emerging markets currencies also benefited, with the Polish zloty, Hungarian forint and Czech koruna, among others, climbing higher against the euro. "This week has begun with risk trades on," said analysts at Brown Brothers Harriman. Looking ahead, Trichet is due to give a speech at 1300 GMT in Madrid. At 0930 GMT, the euro was trading at $1.4979, from $1.4851 late in New York Friday, according to EBS. The dollar was little changed at Y88.88 from Y89.00, while the euro was at Y133.13 from Y132.26. The pound was making a fresh burst higher, having broken above $1.66 to hit the day's high at $1.6617. Late Friday, it traded at $1.6491. The Dollar Index, which tracks the dollar's value against a trade-weighted basket of six other major currencies, traded near the low of the day at 75.071 from 75.647. -By Katie Martin, Dow Jones Newswires; 44 20 7842 9346; katie.martin@dowjones.com TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkBackEurope@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.