Tuesday, February 24, 2009
news
Lloyds May Boost Loans as Part of UK Asset PlanDr. Doom: Nationalizing Banks is 'Market Friendly'Irish Anti-Fraud Officers Raid Anglo Irish Bank HQIs this the Year of the Recessionista?UBS to Fight US Bid for Client Names in CourtRoche Seen Raising Genentech Bid after RebuffAkzo Nobel Posts Full-Year Loss of $1.4 BillionGerman Business Sentiment Hits New Record LowAIG Seeks More US Funds As Firm Faces Record LossStanford Had Links to Fund Run by Bidens: ReportSenior Merrill Executive in Europe Leaves: ReportFull Coverage of Europe's Banking Crisis
Wall Street to Obama: Give Us a Little Bit of Hope
Wall Street will be looking for a little bit of everything from President Obama's speech to Congress tonight—at least a smattering of detail but a whole lot of enthusiasm that there's hope in sight for the battered economy.
"What I would love to hear is something that sounds a little bit more like his campaign speech in terms of relative optimism," says Diane de Vries Ashley, managing partner of Zenith Capital Partners in Coral Gables, Fla. "I personally feel that it's time for a little bit of a lift."
Photo By: Matthias Kötter
Obama delivers the speech against a backdrop of gloom, underscored by a 13 percent drop in stocks since the president took office more than a month ago—though . At the same time, Obama has come under criticism for being too dour when painting a picture of the nation's economic straits and the prospects for the future.
For Chip Hanlon, Obama is much like a top-shelf stock that has seen some of its luster fade amid the credit crisis.
"Over the last month the expectations of him have come down a lot," says Hanlon, president of Delta Global Advisors in Huntington Beach, Calif. "When he was inaugurated he was probably a lot like a stock that had a big run and wasn't priced for a mistake—it can't afford a blip in its quarterly earnings report. He's been sold off a bit. He has a chance to surprise to the upside."
But few expect the speech, sort of a quasi-State of the Union presentation, to be a big market mover.
A slew of negatives on the economy and the markets, coupled with a growing sense of unease over a lack of specifics in the new government's plan to attack the problems, will necessitate more than a good speech to begin a recovery.
RELATED LINKS
Current DateTime: 03:40:05 24 Feb 2009LinksList Documentid: 29370250
"I don't think it's a mistake or a coincidence that the market has been selling off since the day he was elected and been selling off even more steeply since the day he was inaugurated," Hanlon says.
"The market rightfully disliked and distrusted the last president, but the market has sensed that we may have jumped out of the Bush frying pan and into the Obama fire."
State of the Union-type speeches are usually long on rhetorical flourishes but lacking in real details, a problematic trend for a White House looking to convince the public that it does have a solid plan towards recovery.
That has led to a bit of hope that the president unveils at least some specifics tonight on what he plans to do to rejuvenate the economy.
"Everybody on Wall Street is looking for details. That's been the real issue with the stimulus package," says Nadav Baum, managing director of investments for BPU Investment Management. "It's just too vague to say, 'we're going to throw "x" amount of dollars at this.' Markets are always looking for a degree of certainty."
"What I would love to hear is something that sounds a little bit more like his campaign speech in terms of relative optimism," says Diane de Vries Ashley, managing partner of Zenith Capital Partners in Coral Gables, Fla. "I personally feel that it's time for a little bit of a lift."
Photo By: Matthias Kötter
Obama delivers the speech against a backdrop of gloom, underscored by a 13 percent drop in stocks since the president took office more than a month ago—though . At the same time, Obama has come under criticism for being too dour when painting a picture of the nation's economic straits and the prospects for the future.
For Chip Hanlon, Obama is much like a top-shelf stock that has seen some of its luster fade amid the credit crisis.
"Over the last month the expectations of him have come down a lot," says Hanlon, president of Delta Global Advisors in Huntington Beach, Calif. "When he was inaugurated he was probably a lot like a stock that had a big run and wasn't priced for a mistake—it can't afford a blip in its quarterly earnings report. He's been sold off a bit. He has a chance to surprise to the upside."
But few expect the speech, sort of a quasi-State of the Union presentation, to be a big market mover.
A slew of negatives on the economy and the markets, coupled with a growing sense of unease over a lack of specifics in the new government's plan to attack the problems, will necessitate more than a good speech to begin a recovery.
RELATED LINKS
Current DateTime: 03:40:05 24 Feb 2009LinksList Documentid: 29370250
"I don't think it's a mistake or a coincidence that the market has been selling off since the day he was elected and been selling off even more steeply since the day he was inaugurated," Hanlon says.
"The market rightfully disliked and distrusted the last president, but the market has sensed that we may have jumped out of the Bush frying pan and into the Obama fire."
State of the Union-type speeches are usually long on rhetorical flourishes but lacking in real details, a problematic trend for a White House looking to convince the public that it does have a solid plan towards recovery.
That has led to a bit of hope that the president unveils at least some specifics tonight on what he plans to do to rejuvenate the economy.
"Everybody on Wall Street is looking for details. That's been the real issue with the stimulus package," says Nadav Baum, managing director of investments for BPU Investment Management. "It's just too vague to say, 'we're going to throw "x" amount of dollars at this.' Markets are always looking for a degree of certainty."
Tuesday, February 17, 2009
The Egyptian stock index CASE 30 gone down today
The Egyptian stock index CASE 30 gone down today since the beginning of the session and reached 3,625 which was the close for today’s session , giving a negative signal and losing more than 110 points because of the selling power , if the index continue falling down , will test the area of 3,400 , on the other hand if the index bounce up again , will test the area of 3,880 – 3,900 , we still expect a fluctuation between 3,400 and 4,800 for the medium term .
Monday, February 16, 2009
El Ezz Steel is to receive a LE 1.85 bn loan
16 Feb 2009 11:21 AM
Arab Finance: Banque Misr, in collaboration with the National Bank ,is negotiating with El Ezz Steel Rebars - (ESRS) to provide a loan worth LE 1.85 billion.
As both banks are negotiating with El Ezz to finance a medium-term loan , to be over seven years ,in order to finance the establishment of El Ezz plant for Galvanized iron.
The company has obtained the approval of the Industrial Development Authority to establish the new production line of Spong iron, which is considered the early stages of the production of steel using iron ore.
It is worth noting that the new plant provides the integration of production stages and helps in cutting operational costs and increases the ability to cope with the fluctuation of prices of scrap and billet.
The investment cost of the project is LE 2.7 billion, representing 70% of the loan, and the establishment of the new plant is to be completed in a two years span.
Source: Al mal newspaper
Arab Finance: Banque Misr, in collaboration with the National Bank ,is negotiating with El Ezz Steel Rebars - (ESRS) to provide a loan worth LE 1.85 billion.
As both banks are negotiating with El Ezz to finance a medium-term loan , to be over seven years ,in order to finance the establishment of El Ezz plant for Galvanized iron.
The company has obtained the approval of the Industrial Development Authority to establish the new production line of Spong iron, which is considered the early stages of the production of steel using iron ore.
It is worth noting that the new plant provides the integration of production stages and helps in cutting operational costs and increases the ability to cope with the fluctuation of prices of scrap and billet.
The investment cost of the project is LE 2.7 billion, representing 70% of the loan, and the establishment of the new plant is to be completed in a two years span.
Source: Al mal newspaper
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