European stock markets sharply Friday, Citigroup Inc. (CN) announced better than expected performance of local banking stocks led gains.
The pan-European blue chips The FTSEurofirst 300 index closed up 1.56 percent to 1164.19 points.
This week, the index rose about 3.2 percent, but this year is still down about 23 percent.
The largest U.S. banks - Citigroup announced quarterly loss 2.5 billion U.S. dollars, less than expected, pushed up DJStoxx European bank index rose 4.9 percent.
UBS (UBSN.VX) jumped 7.6 percent, Royal Bank of Scotland (RBS.L) soaring 9.6 percent.
In addition to banking stocks, pharmaceutical stocks have good performance, the former Teva Pharmaceutical Industries (TEVA.O) announced a 42 percent premium, or 7.5 billion U.S. dollars acquisition of drugmaker Barr (BRL.N).
Stada (STAGn.DE) or 2.5 percent, Roche (ROG.VX) rose 1.6%, Sanofi-Aventis (SASY.PA) rose 2.1 percent.
Because metal prices fell, mining stocks weighed on the market. Anglo American Group (AAL.L) or 1.1 percent, Rio Tinto (RIO.L) or 1.3 percent, BHP Billiton (BLT.L) fell 1.8 percent.
European markets, Britain's FTSE 100 index. FTSE rose 1.7 percent, to close at 5376.4 points; Germany's DAX index. GDAXI closed up 1.78 percent, at 6382.65, while the French CAC-40 index. FCHI freshened up 1.74 percent, at 4299.36 points .
2008-07-22
U.S. oil prices rebounded Monday low-income
With the rebound in oil prices, U.S. stocks close lower Monday. As the two pharmaceutical companies delayed earnings reports, investors became more cautious.
Crude oil futures rose 2.16 dollars to close at 131.04 U.S. dollars a barrel, or 1.7 percent.
Oaktree Capital Management chief investment officer Robert - Pafulike (Robert Pavlik), "said many investors to doubt the overall market. Last week, financial stocks rose 11.4 percent, while energy stocks fell just 11.4 percent. This shows the market In the transfer of funds, rather than a new capital market. "
Bank of America-than-expected earnings reports, to provide the financial stocks gained momentum. Roche also bid 43.7 billion U.S. dollars Genetech acquisition of the remaining shares.
The Dow Jones industrial average was down 29.23 points to close at 11467.34 points, or 0.35 percent. The Dow closed at a time when the rise. Within the 30 constituent stocks in a total of 21 shares fell.
MSD (MRK) fell 6.2 percent, Schering-Plough (SGP) dropped by 11.5 percent. The companies will release earnings reports from the time before the opening pushed back to after the close, the Norwegian researchers found that the distribution of common cholesterol drug treatment for heart disease and no significant effect.
Apple rose 0.7 percent, the company will be released after the close of the third-quarter earnings report. American Express and Texas Instruments also will be closed after the performance.
Bank of America (BAC) rose 3.9 percent, the company's second-quarter profit fell 41 percent, a result better than Wall Street expectations.
Fannie Mae (FNM) rose 5.1 percent, the premises of the United States (FRE) fell 4.7 percent. There are 19 financial services stocks purely short-selling acts have been restricted.
Investors in two large regional banks, Wachovia (WB) and Washington Mutual Bank (WM) on Tuesday reported earnings before also takes a cautious approach, this two stocks were up 1.6 percent and down 7.4 percent.
Pafulike, "said Washington Mutual and Wachovia are not in the list of government restrictions on short selling, a bit strange and I think that the United States Securities and Exchange Commission has made it clear that what the stock market is not important, otherwise why do not protect the whole SGT? »"
The Standard & Poor's 500 index fell 0.68 points to close at 1260.00 points, or 0.05 percent. The Standard & Poor's 10 major plates in the financial sector fell by 1.4 percent and the non-consumer products segment fell to 0.9 percent.
Energy shares rose 3.9 percent, plate of raw materials rose 1.3 percent.
Due to tropical storm moving to the Gulf of Mexico, crude oil futures in the first five trading days up. New York Mercantile Exchange, August crude futures contract rose 2.16 dollars to close at 131.04 U.S. dollars a barrel.
The Nasdaq composite index fell 3.25 points to 2279.53 points, or 0.14 percent.
Trading was relatively light Monday, the New York Stock Exchange volume was 4.36 billion shares traded on the Nasdaq to 1.859 billion shares. New York Stock Exchange to 20 than 11 leading shares fell on the Nasdaq stock market rose to 16 than 12 leading the Nasdaq.
M & A, the Swiss pharmaceutical company Roche Monday bid 44 billion U.S. dollars acquisition it did not have the Genentech (DNA) the remaining 44 percent stake. Genentech rose 14.7 percent.
Yahoo (YHOO) fell 3.5 percent. The company agreed to allow shareholders Icahn hold different views into its board of directors, Icahn recommended by the nine candidates will also have access to two Yahoo board.
June Conference Board leading economic indicators index fell 0.1 percent, which is an economist, said that the U.S. domestic economy has not improved signs.
Asian stock markets rising, Hong Kong's Hang Seng index has been the fourth consecutive trading days up.
European stock markets, the pan-European Dow Jones Stoxx 600 index rose 0.9 percent to 283.07 points.
Major stock indexes mixed last Friday, but the week was up, Wells Fargo, JP Morgan and Citigroup's results were better than expected.
Crude oil futures rose 2.16 dollars to close at 131.04 U.S. dollars a barrel, or 1.7 percent.
Oaktree Capital Management chief investment officer Robert - Pafulike (Robert Pavlik), "said many investors to doubt the overall market. Last week, financial stocks rose 11.4 percent, while energy stocks fell just 11.4 percent. This shows the market In the transfer of funds, rather than a new capital market. "
Bank of America-than-expected earnings reports, to provide the financial stocks gained momentum. Roche also bid 43.7 billion U.S. dollars Genetech acquisition of the remaining shares.
The Dow Jones industrial average was down 29.23 points to close at 11467.34 points, or 0.35 percent. The Dow closed at a time when the rise. Within the 30 constituent stocks in a total of 21 shares fell.
MSD (MRK) fell 6.2 percent, Schering-Plough (SGP) dropped by 11.5 percent. The companies will release earnings reports from the time before the opening pushed back to after the close, the Norwegian researchers found that the distribution of common cholesterol drug treatment for heart disease and no significant effect.
Apple rose 0.7 percent, the company will be released after the close of the third-quarter earnings report. American Express and Texas Instruments also will be closed after the performance.
Bank of America (BAC) rose 3.9 percent, the company's second-quarter profit fell 41 percent, a result better than Wall Street expectations.
Fannie Mae (FNM) rose 5.1 percent, the premises of the United States (FRE) fell 4.7 percent. There are 19 financial services stocks purely short-selling acts have been restricted.
Investors in two large regional banks, Wachovia (WB) and Washington Mutual Bank (WM) on Tuesday reported earnings before also takes a cautious approach, this two stocks were up 1.6 percent and down 7.4 percent.
Pafulike, "said Washington Mutual and Wachovia are not in the list of government restrictions on short selling, a bit strange and I think that the United States Securities and Exchange Commission has made it clear that what the stock market is not important, otherwise why do not protect the whole SGT? »"
The Standard & Poor's 500 index fell 0.68 points to close at 1260.00 points, or 0.05 percent. The Standard & Poor's 10 major plates in the financial sector fell by 1.4 percent and the non-consumer products segment fell to 0.9 percent.
Energy shares rose 3.9 percent, plate of raw materials rose 1.3 percent.
Due to tropical storm moving to the Gulf of Mexico, crude oil futures in the first five trading days up. New York Mercantile Exchange, August crude futures contract rose 2.16 dollars to close at 131.04 U.S. dollars a barrel.
The Nasdaq composite index fell 3.25 points to 2279.53 points, or 0.14 percent.
Trading was relatively light Monday, the New York Stock Exchange volume was 4.36 billion shares traded on the Nasdaq to 1.859 billion shares. New York Stock Exchange to 20 than 11 leading shares fell on the Nasdaq stock market rose to 16 than 12 leading the Nasdaq.
M & A, the Swiss pharmaceutical company Roche Monday bid 44 billion U.S. dollars acquisition it did not have the Genentech (DNA) the remaining 44 percent stake. Genentech rose 14.7 percent.
Yahoo (YHOO) fell 3.5 percent. The company agreed to allow shareholders Icahn hold different views into its board of directors, Icahn recommended by the nine candidates will also have access to two Yahoo board.
June Conference Board leading economic indicators index fell 0.1 percent, which is an economist, said that the U.S. domestic economy has not improved signs.
Asian stock markets rising, Hong Kong's Hang Seng index has been the fourth consecutive trading days up.
European stock markets, the pan-European Dow Jones Stoxx 600 index rose 0.9 percent to 283.07 points.
Major stock indexes mixed last Friday, but the week was up, Wells Fargo, JP Morgan and Citigroup's results were better than expected.
Goldman Sachs CEO takes the view that the United States to avoid further risk of the proliferation of mortgage institutions
The U.S. economy has been weak recently because of two major mortgage institutions - Fannie Mae and premises of the United States and the deteriorating financial position has been further drag, this new outbreak of the crisis on the dollar's rally, the United States and the global capital market confidence in the impact. In response, Wall Street famous investment bank Goldman Sachs Group chairman and chief executive officer louder »Bei Lanke the Vatican said recently in Beijing in an exclusive interview with this reporter that the U.S. government need to make further efforts to circumvent the crisis in mortgage institutions Proliferation.
Crisis has spread further
Reporter: Fannie and premises of the United States in trouble mean that the loan-to-the further spread of the crisis »How do you evaluate the federal government two shots mortgage relief agencies»
Bei Lanke Vatican: just when housing prices started to decline when the most affected is the secondary mortgage loan borrowers is less income and wealth that some people, after this spread to other parts of the housing market And cause an impact.
Fannie and premises of the United States have a lot of housing mortgage loans, and the federal government has long played a role in public policy tool, so the two agencies and the state of the U.S. federal government and the interests linked to the Ministry of Finance, so the market is to see The. So in any case, the U.S. government will not turn a blind eye to their difficulties, the U.S. Treasury Department's statement is tantamount to a guarantee. Now, although the specific relief measures have not yet introduced, but the market believe that the Government will give its loans and credit support, so that the Goldman Sachs is.
However, I believe, in the Ministry of Finance statement, the U.S. Government has also affirmed the need for further measures to help Fannie Mae and premises of the United States truly restore position in the market, the mortgage institutions to prevent the spread of the crisis. Even if the debts are repaid, investors in making investment decisions, also still have to look at other aspects of the two companies the value of the stock and the future profitability.
Benefit from diversification
Reporter: The previously announced quarterly report shows that in this crisis, Merrill Lynch and Lehman Brothers and other Wall Street to line encountered setbacks, Goldman Sachs is why can maintain better performance »
Bei Lanke Vatican: Goldman Sachs in a crisis better performance because the company is developing a good plan, of course, more fortunate. We have problems of the region than any other small banks, but no problems after hesitation and immediately be wiped away.
Goldman Sachs is the first to achieve multiple types of business operations, other investment banking business problem we have, but we still have a lot of good business performance. In addition, Goldman Sachs business in all regions of the world wide distribution company performance is also important to maintain good reason, the Chinese economy still maintained a rapid growth, while the Latin American region is only by the crisis, the loan-to-mild radiation, we have in these two regions , But also Europe, the Middle East and India have a considerable volume of business. At present, the contribution of income to Goldman Sachs more than half of the business in areas outside of the United States launched.
Bear Stearns acquired useful financial system
Reporter: How do you evaluate Morgan Chase's acquisition of Bear Stearns »
Bei Lanke Vatican: JP Morgan Chase acquisition Bear Stearns for the U.S. financial system and JP Morgan Chase are themselves useful. First, the crisis in the U.S. financial system can not afford Bear Stearns as the scale of the company brought about by the collapse of the tremendous impact followed by the JP Morgan Chase, Bear Stearns is a rare quality acquisition targets, the company and JP Morgan Chase business will be formed to strengthen and add useful. But Bear Stearns investors may not be happy, but the acquisition is better than the company closed down completely.
Reporter: last month came news of the Lehman Brothers bogged down in difficulties, in your opinion, whether the company has followed the steps of Bear Stearns may »
Bei Lanke Vatican: Each company is different, between Lehman Brothers and Bear Stearns as well. Compared with Bear Stearns, Lehman Brothers, the larger, and more diversified business and international. Moreover, the Fed now also allow investment banks to the discount window, so that Lehman Brothers as a very good company, there is no reason to repeat the mistakes Bear Stearns.
Reporter: Will the U.S. market often reported a lot of bad news and lead to company share prices plummeted, the U.S. Securities and Exchange Commission (SEC) recently announced that it will initiate an investigation against a number of institutions to make use of spread rumors manipulation of stock prices, you can feel that this is a Results »
Bei Lanke Vatican: For the financial services industry in the company, they do not have the time to prove that the false news, but if investors lose confidence in the market can not support too long. Therefore, rumors for the financial services industry in terms of companies is very dangerous, especially if the rumors are a part of some people deliberately fabricated. SEC's statement will prevent agencies spread rumors manipulation of stock prices, they need to do is actually two things: first determine whether the rumors said true and then let people know, spread the rumors so that they will be in trouble.
Source: China Securities News
Crisis has spread further
Reporter: Fannie and premises of the United States in trouble mean that the loan-to-the further spread of the crisis »How do you evaluate the federal government two shots mortgage relief agencies»
Bei Lanke Vatican: just when housing prices started to decline when the most affected is the secondary mortgage loan borrowers is less income and wealth that some people, after this spread to other parts of the housing market And cause an impact.
Fannie and premises of the United States have a lot of housing mortgage loans, and the federal government has long played a role in public policy tool, so the two agencies and the state of the U.S. federal government and the interests linked to the Ministry of Finance, so the market is to see The. So in any case, the U.S. government will not turn a blind eye to their difficulties, the U.S. Treasury Department's statement is tantamount to a guarantee. Now, although the specific relief measures have not yet introduced, but the market believe that the Government will give its loans and credit support, so that the Goldman Sachs is.
However, I believe, in the Ministry of Finance statement, the U.S. Government has also affirmed the need for further measures to help Fannie Mae and premises of the United States truly restore position in the market, the mortgage institutions to prevent the spread of the crisis. Even if the debts are repaid, investors in making investment decisions, also still have to look at other aspects of the two companies the value of the stock and the future profitability.
Benefit from diversification
Reporter: The previously announced quarterly report shows that in this crisis, Merrill Lynch and Lehman Brothers and other Wall Street to line encountered setbacks, Goldman Sachs is why can maintain better performance »
Bei Lanke Vatican: Goldman Sachs in a crisis better performance because the company is developing a good plan, of course, more fortunate. We have problems of the region than any other small banks, but no problems after hesitation and immediately be wiped away.
Goldman Sachs is the first to achieve multiple types of business operations, other investment banking business problem we have, but we still have a lot of good business performance. In addition, Goldman Sachs business in all regions of the world wide distribution company performance is also important to maintain good reason, the Chinese economy still maintained a rapid growth, while the Latin American region is only by the crisis, the loan-to-mild radiation, we have in these two regions , But also Europe, the Middle East and India have a considerable volume of business. At present, the contribution of income to Goldman Sachs more than half of the business in areas outside of the United States launched.
Bear Stearns acquired useful financial system
Reporter: How do you evaluate Morgan Chase's acquisition of Bear Stearns »
Bei Lanke Vatican: JP Morgan Chase acquisition Bear Stearns for the U.S. financial system and JP Morgan Chase are themselves useful. First, the crisis in the U.S. financial system can not afford Bear Stearns as the scale of the company brought about by the collapse of the tremendous impact followed by the JP Morgan Chase, Bear Stearns is a rare quality acquisition targets, the company and JP Morgan Chase business will be formed to strengthen and add useful. But Bear Stearns investors may not be happy, but the acquisition is better than the company closed down completely.
Reporter: last month came news of the Lehman Brothers bogged down in difficulties, in your opinion, whether the company has followed the steps of Bear Stearns may »
Bei Lanke Vatican: Each company is different, between Lehman Brothers and Bear Stearns as well. Compared with Bear Stearns, Lehman Brothers, the larger, and more diversified business and international. Moreover, the Fed now also allow investment banks to the discount window, so that Lehman Brothers as a very good company, there is no reason to repeat the mistakes Bear Stearns.
Reporter: Will the U.S. market often reported a lot of bad news and lead to company share prices plummeted, the U.S. Securities and Exchange Commission (SEC) recently announced that it will initiate an investigation against a number of institutions to make use of spread rumors manipulation of stock prices, you can feel that this is a Results »
Bei Lanke Vatican: For the financial services industry in the company, they do not have the time to prove that the false news, but if investors lose confidence in the market can not support too long. Therefore, rumors for the financial services industry in terms of companies is very dangerous, especially if the rumors are a part of some people deliberately fabricated. SEC's statement will prevent agencies spread rumors manipulation of stock prices, they need to do is actually two things: first determine whether the rumors said true and then let people know, spread the rumors so that they will be in trouble.
Source: China Securities News
Nikkei Index was up nearly 3 percent the past month the biggest gain
Japan's stock market Tuesday sharply, following the previous day surrounding the stock market rebound, rebound in oil prices driven trade-related shares rose, and several U.S. banks reported better-than-expected earnings, reducing the investors in the financial industry's concern.
Nikkei Index closed at 12944.56 points, up 140.86 points, or 1.10 percent, or expansion of the afternoon, to close at 113185.00 points, up 381.26 points, or 2.98 percent, or one month of today's biggest single-day gain. The broader TOPIX index closed up 2.8 percent to 1287.74 points.
Nikkei Index closed at 12944.56 points, up 140.86 points, or 1.10 percent, or expansion of the afternoon, to close at 113185.00 points, up 381.26 points, or 2.98 percent, or one month of today's biggest single-day gain. The broader TOPIX index closed up 2.8 percent to 1287.74 points.
European stock markets lower on the 22nd morning
European stock markets lower on the 22nd morning, Ericsson and Vodafone shares drag down market.
Comprehensive foreign July 22 reports, Ericsson and Vodafone shares were down drag European stocks lower on the 22nd morning, Ericsson net profit fell 70 percent, lower than expected, and Vodafone Group (Vodafone Group) warned that possible can not be achieved in 08 camps To target.
Vodafone shares fell 9 percent, Ericsson fell 5 percent, but TomTom navigation service providers rose 18 percent, said its earnings prospects remain unchanged.
Britain's FTSE 100 index fell 1.3 percent, to 5,334, and Germany's DAX 30 index fell 0.7 percent, to 6377, the French CAC 40 index fell 1 percent, to close at 4,283 points.
Comprehensive foreign July 22 reports, Ericsson and Vodafone shares were down drag European stocks lower on the 22nd morning, Ericsson net profit fell 70 percent, lower than expected, and Vodafone Group (Vodafone Group) warned that possible can not be achieved in 08 camps To target.
Vodafone shares fell 9 percent, Ericsson fell 5 percent, but TomTom navigation service providers rose 18 percent, said its earnings prospects remain unchanged.
Britain's FTSE 100 index fell 1.3 percent, to 5,334, and Germany's DAX 30 index fell 0.7 percent, to 6377, the French CAC 40 index fell 1 percent, to close at 4,283 points.
On the 22nd Hang Seng Index closed down 5 points at 22,527 points
Tuesday, Wall Street the Dow rose, A shares Huzhi slight concussion.
Hong Kong stocks, Hong Kong's Hang Seng index closed at 22430.59 points, or gradually narrowed down Chonggao afternoon, the highest at 22690.74 points to close at 22527.48 points, down 5.42 points, or 0.02 percent.
China Enterprises Index closed at 12443.38 points, down 15.43 points, or 0.12 percent, red-chip index at 4775.56 points, down 3.16 points, or 0.07 percent.
Hong Kong stocks, Hong Kong's Hang Seng index closed at 22430.59 points, or gradually narrowed down Chonggao afternoon, the highest at 22690.74 points to close at 22527.48 points, down 5.42 points, or 0.02 percent.
China Enterprises Index closed at 12443.38 points, down 15.43 points, or 0.12 percent, red-chip index at 4775.56 points, down 3.16 points, or 0.07 percent.
Paulson that the U.S. economy a few months before the real recovery
U.S. Treasury Secretary Paulson on the 20th that the U.S. economy needs a few months to shake off the current slowdown in the growth of state. He stressed that, despite the mortgage crisis could trigger more problems, but the U.S. banking system is still working well.
Economic weakness will continue
Paulson in a U.S. television interview, said that the state of U.S. economic growth may be slowing down last several months, rising energy prices will slow down the extension of this period, while economic recovery is the key to stability in the housing market.
He also noted that despite IndyMac Bank to take over the incident, the U.S. banking system is still operating well, the banking industry the problems can be controlled. California, IndyMac Bank a few days ago due to financial difficulties was the federal government took over, the loan-to-become a crisis erupted over the past year's biggest bank closed down the incident.
Paulson also said that the U.S. Congress to approve his assistance "Fannie Mae" and "premises of the United States and" expressed optimism about the motion. The two largest U.S. mortgage finance institutions - "Fannie Mae" and "premises of the United States" recently sank into financial difficulties. The U.S. Treasury Department and the Federal Reserve said that the two institutions will help to avoid further impact the U.S. economy.
U.S. President George W. Bush last week also said that house prices fell, the surge in oil prices and other issues so that the American people are facing "difficult times", but he is convinced that the U.S. economy will be able to overcome the current challenges. Bush said the United States is in a difficult moment, but the economy is still growing, the increase in exports, productivity remained strong, so he on the U.S. economy's long-term performance full of confidence. Bush said that he understood outside the United States worry that the banking system, but that the U.S. banking system based on stability, but the Government has taken measures to help stabilize the housing market and the financial markets and enhance investors in Fannie and premises of the United States and confidence. For the current financial plight of a U.S. financial markets and trigger a turbulent one Fannie and premises of the United States, Bush said that the Government's emergency relief plan, but not excessive relief.
Or will avoid recession
National Association for Business Economics (NABE) has released an analyst quarterly survey showed that the U.S. economy may have avoided recession, but because commodity prices will erode corporate profits up, over time, the U.S. economy will be lower than the trend rate of expansion Standard.
In the June 19-July 10 to a survey conducted showed that analysts view the prospects of the economy in April, has not so pessimistic, but price pressures still weighed on economic growth.
U.S. contractors Association (AGC) Ken Simonson, chief analyst said: "and the first quarter compared to the second quarter, more companies reported operating income growth, but also rising raw material costs, profits fell." Analysis of the respondents Division, 75% of the companies called in the second quarter of the expenditure on raw materials increased and is expected prices will rise further. But there are still 44 percent of the respondents expect the second quarter, the inflation-adjusted gross domestic product (GDP) growth rate will exceed one percent, 45 percent are expected to be less than 1%, 10% thought that would Contraction.
Source: China Securities News
Economic weakness will continue
Paulson in a U.S. television interview, said that the state of U.S. economic growth may be slowing down last several months, rising energy prices will slow down the extension of this period, while economic recovery is the key to stability in the housing market.
He also noted that despite IndyMac Bank to take over the incident, the U.S. banking system is still operating well, the banking industry the problems can be controlled. California, IndyMac Bank a few days ago due to financial difficulties was the federal government took over, the loan-to-become a crisis erupted over the past year's biggest bank closed down the incident.
Paulson also said that the U.S. Congress to approve his assistance "Fannie Mae" and "premises of the United States and" expressed optimism about the motion. The two largest U.S. mortgage finance institutions - "Fannie Mae" and "premises of the United States" recently sank into financial difficulties. The U.S. Treasury Department and the Federal Reserve said that the two institutions will help to avoid further impact the U.S. economy.
U.S. President George W. Bush last week also said that house prices fell, the surge in oil prices and other issues so that the American people are facing "difficult times", but he is convinced that the U.S. economy will be able to overcome the current challenges. Bush said the United States is in a difficult moment, but the economy is still growing, the increase in exports, productivity remained strong, so he on the U.S. economy's long-term performance full of confidence. Bush said that he understood outside the United States worry that the banking system, but that the U.S. banking system based on stability, but the Government has taken measures to help stabilize the housing market and the financial markets and enhance investors in Fannie and premises of the United States and confidence. For the current financial plight of a U.S. financial markets and trigger a turbulent one Fannie and premises of the United States, Bush said that the Government's emergency relief plan, but not excessive relief.
Or will avoid recession
National Association for Business Economics (NABE) has released an analyst quarterly survey showed that the U.S. economy may have avoided recession, but because commodity prices will erode corporate profits up, over time, the U.S. economy will be lower than the trend rate of expansion Standard.
In the June 19-July 10 to a survey conducted showed that analysts view the prospects of the economy in April, has not so pessimistic, but price pressures still weighed on economic growth.
U.S. contractors Association (AGC) Ken Simonson, chief analyst said: "and the first quarter compared to the second quarter, more companies reported operating income growth, but also rising raw material costs, profits fell." Analysis of the respondents Division, 75% of the companies called in the second quarter of the expenditure on raw materials increased and is expected prices will rise further. But there are still 44 percent of the respondents expect the second quarter, the inflation-adjusted gross domestic product (GDP) growth rate will exceed one percent, 45 percent are expected to be less than 1%, 10% thought that would Contraction.
Source: China Securities News
Three years to the appreciation of the RMB against the U.S. dollar more than 21%
Over the past three years the RMB against the U.S. dollar
More than 21 percent appreciation
July 21, is the RMB exchange rate formation mechanism reform third anniversary. People's Bank of China authorized foreign exchange trading center on the 21st announced that the interbank foreign exchange market exchange rate of RMB against the U.S. dollar price of 1 U.S. dollar against 6.8271 yuan. This basis, over the past three years the appreciation of the RMB against the U.S. dollar rate has exceeded 21 percent.
July 21, 2005, announced the launch of China's RMB exchange rate formation mechanism reform, will no longer be pegged to the U.S. dollar, but reference to a basket of currencies, implement a managed floating exchange rate system.
Throughout the reform, the RMB exchange rate against the U.S. dollar continued to show small gains overall situation, "Youshengyouxiang" features two-way fluctuation was also evident. 2008 has been a notable feature is that the appreciation of the RMB against the U.S. dollar accelerated pace has accumulated nearly seven percent increase, over the last year of the annual increase of 6.90 percent.
At the same time, the flexibility of the RMB exchange rate strengthened, inter-bank spot foreign exchange market in non-US dollar currencies against RMB trading price to expand the floating range of 3 percent. RMB against the U.S. dollar exchange rate volatility from the daily average in 2005 to the end of the year after the expansion of 17 basis points to the current more than 60 basis points.
The past three years, always adhere to China's exchange rate reform initiative, controllability and gradual way, the principle of continuously push in-depth, practical, effective regulation and control the exchange rate reform is expected towards the goal, the exchange rate mechanism in the process of continuous improvement, the risks associated with Have gradually brought under control.
The change, the exchange rate to improve trade imbalances and promote industrial upgrading, and the impact of expanding domestic demand increasingly appear. At the same time, China's export structure has been optimized, textile, footwear and other labor-intensive products and energy products in exports as a share of declining export growth of good mechanical and electrical products.
However, economic restructuring and industrial upgrading process does not necessarily mean that some of the competitive industry gradually decline. In the context of the appreciation of the renminbi, clothing, footwear, and so China's traditional export industries especially the pressure on, there inevitably some business failures, out of the market, and trigger the industry to accelerate integration of the situation.
For such enterprises, simply rely on low prices, the expansion of quantity is not the preferred mode of development strategy, strive to raise the value-added products, improve product quality, enhance brand awareness is a wise move. In China, due to regional development imbalances, which have such industries as industries shift from the eastern region to the central and western regions may be created.
Practice has proved that the majority should be proactive instead of the appreciation of the RMB business to gain greater market share and faster profit growth. Many enterprises through internal tap the potential, financial and other measures to hedge the development and transformation.
People's Bank of China in the first quarter monetary policy implementation report that will continue to be active, controllable and gradual way, the principle of improving the managed floating exchange rate system. Accelerate the transformation of economic development and foreign trade growth mode, more restructuring, further boosting domestic demand in the economy pulling effect, and optimize the import and export commodity structure.
More than 21 percent appreciation
July 21, is the RMB exchange rate formation mechanism reform third anniversary. People's Bank of China authorized foreign exchange trading center on the 21st announced that the interbank foreign exchange market exchange rate of RMB against the U.S. dollar price of 1 U.S. dollar against 6.8271 yuan. This basis, over the past three years the appreciation of the RMB against the U.S. dollar rate has exceeded 21 percent.
July 21, 2005, announced the launch of China's RMB exchange rate formation mechanism reform, will no longer be pegged to the U.S. dollar, but reference to a basket of currencies, implement a managed floating exchange rate system.
Throughout the reform, the RMB exchange rate against the U.S. dollar continued to show small gains overall situation, "Youshengyouxiang" features two-way fluctuation was also evident. 2008 has been a notable feature is that the appreciation of the RMB against the U.S. dollar accelerated pace has accumulated nearly seven percent increase, over the last year of the annual increase of 6.90 percent.
At the same time, the flexibility of the RMB exchange rate strengthened, inter-bank spot foreign exchange market in non-US dollar currencies against RMB trading price to expand the floating range of 3 percent. RMB against the U.S. dollar exchange rate volatility from the daily average in 2005 to the end of the year after the expansion of 17 basis points to the current more than 60 basis points.
The past three years, always adhere to China's exchange rate reform initiative, controllability and gradual way, the principle of continuously push in-depth, practical, effective regulation and control the exchange rate reform is expected towards the goal, the exchange rate mechanism in the process of continuous improvement, the risks associated with Have gradually brought under control.
The change, the exchange rate to improve trade imbalances and promote industrial upgrading, and the impact of expanding domestic demand increasingly appear. At the same time, China's export structure has been optimized, textile, footwear and other labor-intensive products and energy products in exports as a share of declining export growth of good mechanical and electrical products.
However, economic restructuring and industrial upgrading process does not necessarily mean that some of the competitive industry gradually decline. In the context of the appreciation of the renminbi, clothing, footwear, and so China's traditional export industries especially the pressure on, there inevitably some business failures, out of the market, and trigger the industry to accelerate integration of the situation.
For such enterprises, simply rely on low prices, the expansion of quantity is not the preferred mode of development strategy, strive to raise the value-added products, improve product quality, enhance brand awareness is a wise move. In China, due to regional development imbalances, which have such industries as industries shift from the eastern region to the central and western regions may be created.
Practice has proved that the majority should be proactive instead of the appreciation of the RMB business to gain greater market share and faster profit growth. Many enterprises through internal tap the potential, financial and other measures to hedge the development and transformation.
People's Bank of China in the first quarter monetary policy implementation report that will continue to be active, controllable and gradual way, the principle of improving the managed floating exchange rate system. Accelerate the transformation of economic development and foreign trade growth mode, more restructuring, further boosting domestic demand in the economy pulling effect, and optimize the import and export commodity structure.
CNOOC half net profit of 18.9 billion yuan of profits among the first three national enterprises
Jinghua Shibao
-- (Zhang Yan) China National Offshore Oil Corporation announced yesterday, the company merged the first half net profit of 18.95 billion yuan, an increase of 35.2 percent.
The first half of the production of oil and gas company CNOOC equivalent 20.702 million tons, an increase of 2.4 percent, consolidated operating income reached 106.33 billion yuan, an increase of 48 percent; combined total profit of 41.37 billion yuan, an increase of 47.2 percent. Total profits rose to third in the national enterprises, accounting for a total profit of central rate of 9.3 percent.
Company official pointed out that international crude oil prices high in the upper reaches of industry to generate revenue, while its costs rising rapidly, and a tremendous pressure on the downstream industries. The merger of the first half of operating costs increased by 52.9 percent.
-- (Zhang Yan) China National Offshore Oil Corporation announced yesterday, the company merged the first half net profit of 18.95 billion yuan, an increase of 35.2 percent.
The first half of the production of oil and gas company CNOOC equivalent 20.702 million tons, an increase of 2.4 percent, consolidated operating income reached 106.33 billion yuan, an increase of 48 percent; combined total profit of 41.37 billion yuan, an increase of 47.2 percent. Total profits rose to third in the national enterprises, accounting for a total profit of central rate of 9.3 percent.
Company official pointed out that international crude oil prices high in the upper reaches of industry to generate revenue, while its costs rising rapidly, and a tremendous pressure on the downstream industries. The merger of the first half of operating costs increased by 52.9 percent.
Bush for the U.S. Olympic delegation off at the statement could not wait want to see the Olympic Games
Local time on July 21, U.S. President George W. Bush in the White House Rose Garden for the U.S. Olympic delegation off. In the farewell ceremony, Bush made a speech to all the athletes selected delegations congratulated and encouraged them to carry forward the Olympic Games "higher, faster, stronger" the spirit to strive for good results for the U.S. team win glory.
"You will serve as goodwill ambassador of the United States, to the athletes from all over the world and all the Chinese people to convey the American people love freedom, respect for human rights values." U.S. President George W. Bush inspire such athletes.
Bush will attend the August 8 opening ceremony of the Beijing Olympics, a few days ago and will watch the sports events. "I would like to pay tribute to all the athletes, I have can not wait to share with you the joy of victory." Bush said with excitement.
The visit to Beijing more than 400 people in the history of the United States will become the largest Olympic delegation. They will be in the July 25 official stationed in Beijing Normal University, the last before the Olympics begin training and prepare for war.
Bush transferred Hunbian based on hearsay evidence that Rice is a third party (picture)
U.S. netizens & P plans, the English word for "love story."
U.S. tabloid-come, "the White House Feng Yue"
U.S. President George W. Bush since taking office to negative news has not been stopped, but now he will leave a few months, but suddenly tabloid爆出the United States each year after the November election, he wants to more than 20 years of marriage with his wife Laura The alarming news of divorce, more shockingly, that rumors of the "mini three" Surprisingly, the U.S. Secretary of State Condoleezza Rice.
November general election after the divorce agreement
Italy "Republic" on July 18 quoted the U.S. "inquiries" on the 17th on the matter reported that Laura Bush has privately agreed, in November after the elections, the two secret divorce.
According to "State Information" reported that they no longer talk, although two daughters have hoped that parents and good, but in fact this is already irreversible. The newspaper wrote, the two will be on public occasions to maintain close relations between the image of Bush until the end of his term. "State Information" reported that the divorce proceedings in November after the general election this year, secret for.
Laura alimony will be Guoyi
"National inquiries," said Laura Bush and have always thought that the current U.S. Secretary of State Condoleezza Rice between Siqing. A former employee told the White House "National Information", a fierce quarrel with Bush, Laura had left the White House late at night, stay to the Mayflower Hotel, did not return throughout the night to temporarily stay away from sad place.
Reported that, according to the divorce agreement, she will receive 20 million U.S. dollars (about 140 million yuan) of property and compensation.
54-year-old Rice has been single.
News Background
Secretary of State-President of the sex scandal
Bush and Rice about the reported affair between the very early Jianzhubaoduan. July 2006, many U.S. media wrote that they believe exists between the President and Condoleezza Rice moving section of the "Fengliuyunshi."
Security officials Wei, Madsen said that Bush had a contact with the psychologist that he had Yiqingbielian. This Meng Zhongren the name "Hong Lizha more than Rice."
Bush also said non-single-Acacia, in an official statement at the meeting, Rice had Kouwu Bush will be known as the "husband" when she first said, "As my husband……", then quickly changed, "said President Bush… … "
Laura Bush
Related links
Netizen said that how the United States
The United States on a BBS on this news reproduced or evaluation of the country or be able to see this netizens "Jingtian scandal" attitude.
News of the starting reproduced Rabz: "Even if they really availability together, I am not surprised."
User AsifTheManRahman: "I am not interested in news, but I like the starting PS plans……"
User kalpurush: "Many see the office romance, but that is Rice ah ah ah ah ah!"
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