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Market Analysis: European stock markets charge higher by 2% led by miners and financials
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Market Commentry: 2012-01-20 pm
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Market Commentry: 2012-01-20 pm
Our team of market experts have extensive experience of the financial markets. Access their thoughts and opinions with our daily market commentary section so you can get a trading edge.
Sandy JadejaChief Technical Analyst
20/01/2012 (5:30pm)UK & EU Market Commentary: FTSE falls 12 points in choppy but flat session
The FTSE 100 lost a meagre 12 points to curb a four-day winning streak in what was a quiet end to the trading week, with the UK Index bouncing between a tight range on the day of just 30 points.Sluggish manufacturing data out of China kept mining and oil stocks weaker on the day, and this is where much of the FTSE’s drag was dictated from, whilst another positive session for UK banks saw the FTSE 350 banking sector post a week’s gain of a hugely impressive 17%.Vedanta Resources, ICAP and Aviva were the top FTSE 100 stock performers on the day, rallying between 2% and 4%, whilst Weir Group and Petrofac saw the biggest losses, falling 6% and 4% respectively. Previous Commentary: Markets take a breather after recent gains20/01/2012 (10.30am) After seeing strong gains this week, stock indices are showing signs today of some exhaustion.It is possible that if the indices close in negative territory today this could set-up a minor pullback into next week. This is an opportunity to potentially capture the next leg to the upside but may also set the stage for a decline that could last slightly longer. What is important is that coming into next week the indices do not decline sharply and eradicate the recent gains.The FTSE 100 Index has so far remained above 5600, which is a positive sign that could lift the index higher towards the 5820 target. As long as the FTSE maintains a hold of this level the bulls are likely to remain in control. If the index does start trading below 5600, the next line of support could come in at 5585 – 5535 and possibly as low as 5487. These areas could then see another move higher to clear 5820 and ultimately aim for the 6000 level.So far the German Dax has shown strength above 6200 and is also clearing past 6300 to test the October high of 6430. As long as we see the index remain above 6300, the resistance level of 6440 could see the Dax struggle and pull the Dax down towards the 6300 area. Once the index clears past 6440 the next target becomes 6720. This could prevent the index moving higher before seeing a significant correction. For now though the focus should be between the range of 6300 – 6440.Heading into the afternoon session, the US Dow Jones should see mixed trading as it takes its cue from the European markets. The Dow should attempt to trade above 12592 otherwise the index may see a drop towards 12563 for an attempt at support. Below this level the index could struggle into the close to catch some gains. If the mood changes from negative to positive the index may seek to take out 12625 level and reach for 12670 today. Into next week, it is important for the Dow to hold onto 12450 to ensure that positive momentum continues over the weeks to come.Gold prices have recouped losses at the start of this week and managed to get back above the $1600 level. Once the metal clears $16880 we could see gold reach for $1730 - $1780 into next week’s trading session.
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See Previous Market Commentaries
Asian stocks were mixed following negative offshore leads (01/03/2012)Gold loses some lustre as US Fed Chairman Ben Bernanke dismisses QE3 (29/02/2012)Investors on LTRO watch keeps the markets choppy (29/02/2012) Better than expected numbers from Japan and Korea push Asian stocks higher (29/02/2012)Asian stocks look set for more modest gains as US markets close higher (28/02/2012)Stocks gain as ECB's LTRO watched (28/02/2012) Mostly flat trading day in Asia; Aussie dollar holds onto gains (28/02/2012) Flat finish in the US may temper Asian markets today (27/02/2012) Ask markets swing between gains and losses as material stocks weigh on index (27/02/2012) FTSE closes flat on the day, underperforming broader EU stock charge (24/02/2012) UK Q4 GDP unrevised at -0.2%. Lloyds’ outlook weighs on shares price (24/02/2012) Flat finish for Asian stocks into the weekend; Australian listed gaming companies attract more high rollers (24/02/2012)Choppy trading see’s EU Indices mixed. RBS shares lead despite loss (23/02/2012) Asian markets lost some ground; Aussie dollar recovers despite political bickering (23/02/2012) Soft US markets overnight may dampen Asian shares (22/02/2012) FTSE closes down despite afternoon recovery (22/02/2012)FTSE falls 0.3% as miners and banks weigh (22/02/2012) Asian stocks surge higher; Woodside Petroleum reports $1.65 billion profit (22/02/2012) Investors bank gains on news of the Greek bailout package (21/02/2012) Profit taking sends EU stocks slightly lower after Greece secures bailout (21/02/2012) Asian stocks rally on Greek bailout; Australian central bank says there is room for rate cut (21/02/2012)FTSE edging towards 6000 level after China cuts reserve ratio requirements (20/02/2012)Optimism on Greek bailout could push Asian markets higher (20/02/2012) China’s reserve ratio easing boosts Asian markets (20/02/2012)FTSE rises on Greek expectation but low volumes tells a tale of caution (17/02/2012) Asian markets on a positive note to end the week; Australia’s ANZ Bank reports $1.48 billion Q1 results (17/02/2012) European stocks rise on Greek bailout deal hopes whilst UK retail sales surprise (17/02/2012)Greek confusion sends stocks and the euro lower (16/02/2012)Asian markets lower on Greece concerns; Australia reports strong jobs number (16/02/2012) Greek saga continues to weigh on market (16/02/2012) European markets push higher on Chinese comments and stronger than expected GDP data (15/02/2012)   Asian markets trading higher; Commonwealth Bank of Australia dominates reporting season today (15/02/2012) Flat start seen for Asian markets after mixed leads from US and Europe; Australia’s largest bank reports interim results (15/02/2012) Mixed data see’s European stocks trade lower (14/02/2012)German ZEW surprise lifts stocks after Moody’s ratings warning (14/02/2012) Prospect of more European downgrades push Asian stocks lower Australias largest bank to report earnings tomorrow (14/02/2012) Apple shares climb above US$500; Asian stocks set for modest gains (13/02/2012) Stocks rally on Greek deal relief (13/02/2012) Relief rally see's FTSE charge 0.9% higher (13/02/2012) Greek austerity measures provide boost to Asian markets (13/02/2012)Greek saga still weighing on markets; Australian electronics retailer JB Hi-Fi to report today (12/02/2012)Stocks fall on yet more Greek delay problems (10/02/2012)FTSE finishes week lower on China data and more Greek woes (10/02/2012)Asian stocks look set to finish the week in mostly negative territory (10/02/2012)European stocks close higher as Greek austerity deal agreed and BoE increases size of QE2 (09/02/2012)Stocks edge higher in early trade ahead of BoE decision (09/02/2012)BoE Announces £50 Billion in QE (09/02/2012) Asian stocks were mostly lower today as Chinese inflation numbers surprised on the upside (09/02/2012)No Greek deal yet but markets show stubborn resistance (08/02/2012) FTSE hits new highs as investor appetite for risk increases (08/02/2012) Asian stocks higher with the exception of China (08/02/2012)Bernanke and Greece deal speculation sparks stock recovery into market close (07/02/2012) Indices start lower as eyes remain fixed on Greece (07/02/2012) Asian markets mostly flat despite negative offshore leads (07/02/2012) FTSE lower as Greek concerns linger (06/02/2012) Stocks push lower on Greek concerns and profit taking (06/02/2012) Lacklustre Asian trade ahead of US jobs numbers  (03/02/2012) Non-Farms Announced: US Non-Farm Payrolls blast past expectations to lift stocks (03/02/2012) FTSE rallies 1.5% after US jobs growth surprise  (03/02/2012)  US Non Farm Payrolls blast past expectations to lift stocks  (03/02/2012)  Financials drive FTSE higher before payrolls release  (03/02/2012)    Asian stocks book healthy gains; Australian dollar firmer against USD  (01/02/2012)   Strong offshore leads may boost Asian stocks; Coles winning supermarket war against Woolies?  (01/02/2012)
More Archives
January 2012
Asian markets in positive territory; Japan reports strong industrial output (31/01/2012)  Negative offshore lead may weigh on Asian stocks; Australia’s Woolworths to report quarterly sales numbers  (30/01/2012)  Asian markets trade lower; all eyes on European leaders’ first summit for 2012  (30/01/2012)  Mixed day for Asian shares as China comes back from holidays  (29/01/2012)  US GDP disappointment triggers week end sell off  (27/01/2012)  EU Indices mixed as eyes remain on Greek debt talks and US GDP  (27/01/2012)  Asian stocks gave up some gains  (27/01/2012)  Asian stocks may push higher; Australian dollar keeps rising  (26/01/2012)  European stocks push higher after FOMC dovish comments  (26/01/2012)  UK economy contracts for the first time in a year  (25/01/2012)  Asian markets upbeat; Apple profits surge  (25/01/2012)  Asian markets resume trading; Aussie dollar still strong  (24/01/2012)   Aussie dollar and Euro book gains against US dollar; markets will keep an eye on US  (24/01/2012)   Asian markets expected to open mildly higher as Europe works through debt crisis (23/01/2012)  European stocks mixed as Greek debt talks continue and EU finance ministers meet (23/01/2012)   Light trading volumes in Asia due to Chinese New Year celebrations (23/01/2012)  Australian dollar remains firm; most Asian markets close for Chine New Year (23/01/2012)  FTSE falls 12 points in choppy but flat session (20/01/2012)  Asian stocks close higher on the lead up to Chinese New Year (20/01/2012) Overseas boost for Asian markets; Euro books more gains versus US dollar (19/01/2012) FTSE gains for 4th session after US bank earnings delight (19/01/2012) Choppy trading sees FTSE flat to positive as US earnings picks up speed (19/01/2012)  Australia’s unemployment at 5.2 per cent; most Asian markets up (19/01/2012)   Asian stocks may get boost from positive US lead (18/01/2012)  FTSE rallies for third straight day after IMF may boost lending resources and Goldman Sachs earnings top expectations (18/01/2012)   FTSE flat in trading as heavyweight sectors mixed (18/01/2012)  Upward momentum for Asian stocks; BHP Billiton reports solid production numbers (18/01/2012) Citigroup results eats into FTSE rally (17/01/2012)Strong gains for European shares as China GDP and German ZEW beats forecasts (17/01/2012) Healthy Chinese GDP boosts Asian markets (17/01/2012)  China’s GDP numbers on the limelight; Euro remains under pressure against other major currencies (16/01/2012)       Asian stocks lower on France’s downgrade (16/01/2012)   French downgrade may trickle down to Asia (15/01/2012)   Rumours of French credit rating cut by S&P sends stocks and euro over 1% lower (13/01/2012)    FTSE gains 16 pts in early trade – eyes on JP Morgan results (13/01/2012) Asian stocks hold on to gains (13/01/2012)Commodity prices may push Asian markets higher (12/01/2012)Tesco shares plummet whilst BoE and ECB keep rates on hold (12/01/2012)Successful Spanish bond auction lifts markets, Tesco shares plummet and BoE keeps rates/QE on hold (12/01/2012) Another mixed trading day in Asia; QBE Insurance warns of profit downgrade (12/01/2012)Weak overseas leads may see Asian stocks flat today (11/01/2012)FTSE falls 0.45% on profit taking ahead of bond auction (11/01/2012)FTSE loses 0.5% in choppy trade whilst Sainsbury’s enjoys record xmas sales (11/01/2012) Asian markets off its high, but still in positive territory (11/01/2012)Strong lead from the US may push Asian stocks higher; Aussie dollar soars (10/01/2012)European stock markets charge higher by 2% led by miners and financials (10/01/2012)European stock markets open higher after better than expected Alcoa results overnight (10/01/2012) Strong trading among Asian stocks; Australia’s Pacific Brands in talks with KKR on potential takeover bid (10/01/2012)Markets eyeing Chinese trade data today (09/01/2012)FTSE slips 0.6% as investors remain cautious ahead of a busy week for the markets (09/01/2012)Equity performance in January dictates the year (09/01/2012) Europe concerns back on investors’ minds (09/01/2012)Mixed week ahead for Asian stocks despite positive US jobs data (08/01/2012)FTSE closes higher by 0.4% after volatile day as US jobs beat expectations (06/01/2012)US payrolls beat consensus expectations (06/01/2012) Stocks nudge higher as traders await release of US non-farm payrolls (06/01/2012) Asian markets trade lower as traders eye US jobs data (06/01/2012)FTSE loses 0.7% despite strong demand at French bond auction (05/01/2012)FTSE loses 0.7% as financials continue to weigh (05/01/2012) Euro continues to weaken; mixed leads may spell flat open for Asian stocks (05/01/2012)Another mixed day for Asian markets; no clear direction for markets so far (05/01/2012)Mixed day seen for Asian markets; Aussie dollar still soaring (05/01/2012)European stocks fall back on UniCredit rights issue discount (04/01/2012) Asian stocks continue winning streak; Aussie dollar still rising (05/01/2012)European stock indices pause for breath on Wednesday (04/01/2012)Positive US lead may boost Asian shares (03/01/2012)Strong start for Asian shares; Australian dollar appreciates as the Euro weakens (03/01/2012)
December 2011
Mixed day for Asian stocks; Australian Gloucester Coal now a takeover target (22/12/2011)Weak offshore leads may dampen Asian trading (21/12/2011)Limited gains for FTSE index (21/12/2011)Asian stocks register solid gains (21/12/2011)Strong open forecast for Asian stocks; better than expected housing starts recorded in the US (20/12/2011)European indices mixed; Astrazeneca weighs on drugs blow (20/12/2011) Mixed day for Asian stocks; Australian Gloucester Coal now a takeover target (20/12/2011)Gold still losing some shine; Euro continues to weaken (19/12/2011)Choppy trading session sees FTSE fall 0.5% - defensives sought (19/12/2011) Defensives push the FTSE slightly higher as investors digest Kim Jong Il death (19/12/2011) Asian markets still in the red; Australian surf wear maker Billabong issues profit downgrade (19/12/2011)Europe concerns continue to weigh on Asian markets; gold still falling (18/12/2011)Indices bullish in Friday’s trading (16/12/2011)European stocks mixed on quadruple witching day (16/12/2011)Hong Kong IPOs fail to impress; Asian markets still sluggish (16/12/2011)Commodity prices may add pressure to Asian markets (15/12/2011)FTSE closes with gains of 0.6% after choppy trading day (15/12/2011) Choppy trade sees FTSE gain after successful Spanish bond auction (15/12/2011)Hong Kong IPOs fail to impress; Asian markets still sluggish (15/12/2011)Commodity prices may add pressure to Asian markets (14/12/2011)FTSE falls 2% as risk aversion gathers pace (14/12/2011)Indices drop 1% as heavyweight miners, oil and banks weigh (14/12/2011)Asian stocks pare losses (14/12/2011)US and Europe weakness may weigh on Asian markets (13/12/2011)Market speculation on FOMC and Iran military action lifts FTSE but Merkel ESM comments triggers late Euro and stock sell off (13/12/2011)FTSE gains 20pts on mining and defensive stock strength though financials weaker (13/12/2011) Falling commodity prices weigh on Asian shares (13/12/2011)Weak leads from US and Europe could push Asian shares lower (12/12/2011)FTSE loses 1.5% as miners and financials weigh as investors digest EU Summit (12/12/2011) European stocks turn lower; weighed by financials (12/12/2011)Asian markets in the red as it await European summit results (12/12/2011)Asian markets may be off to a positive start (11/12/2011)Stocks bounce higher on a day of choppy trade after China investment report (09/12/2011) Markets relatively unchanged despite new EU accord (09/12/2011) Asian shares gain as Europe shows signs of resolving issues (09/12/2011)Sentiment remains subdued on the back of European uncertainty (08/12/2011)Stocks fall after Draghi fails to convince investors that ECB will step up bond purchases (08/12/2011)Stocks trade choppy as eyes remain on EU Summit and ECB decision (08/12/2011)Mixed trading in Asia; Australian unemployment figure rises (08/12/2011)Uncertainty in the markets as European summit draws near (07/12/2011)Question marks over EU progress triggers profit taking ahead of EU Summit (07/12/2011) Stocks push higher on EU Summit optimism – miners and banks lead (07/12/2011)Optimism on European summit boost Asian shares (07/12/2011)Positive lead from US and Europe may push Asian stocks higher (06/12/2011)FTSE flat as traders eye developments in Europe ahead of Summit (06/12/2011)EU stocks mixed after S&P puts credit ratings for top notch EU states on negative watch for downgrade (06/12/2011)Potential downgrade of European debt ratings weighs down on Asian stocks; RBA cuts interest rates (06/12/2011)Ratings agencies keeping an eye on European countries (05/12/2011)Merkel and Sarkozy agree outline for EU Treaty change but key will be garnering support – Banks lead rally (05/12/2011) European stocks gain as traders await EU developments (05/12/2011) Asian stocks trade higher on optimism around Europe (05/12/2011)Australian central bank expected to cut rate tomorrow; flat trading expected in Asia (04/12/2011)US jobs broadly in line but Unemployment rate surprisingly drops (02/12/2011)FTSE charges higher by 1.5% on euro and US jobs optimism (02/12/2011) Asian stocks end week on a mixed note; all eyes on US jobs data (02/12/2011)US rally proves short-lived, Asian markets may trade lower (01/12/2011) Traders pause for breath after share price surge yesterday. UK manufacturing slightly better than expected (01/12/2011) Asian markets rocket higher on the back of massive US rally (01/12/2011)
November 2011
Massive rally in the US and Europe may spark similar moves in Asia (30/11/2011)
Co-ordinated Central Bank action to support liquidity triggers FTSE surge (30/11/2011)
FTSE rallies from early losses after China cuts bank reserve requirement ratio by 0.5% (30/11/2011)Mixed day for Asian stocks; Chinese banks ratings upgraded (30/11/2011) Positive US lead may trickle to Asian stocks(29/11/2011)Choppy session sees the FTSE close marginally higher – Osborne dreary autumn statement causes no surprises (29/11/2011) FTSE starts the day lower on early profit taking as trader’s eye Econfin meeting and Osbourne’s autumn statement (29/11/2011) Positive day for Asian markets; Aussie dollar approaches parity with US dollar (29/11/2011)
Strong bounce in US and European markets may push Asian stocks higher (28/11/2011)FTSE rallies over 2.5% as investor appetite for risk increases on debt hopes (28/11/2011)FTSE rallies 2% on IMF Italian aid speculation despite denial (28/11/2011)Asian stocks turn higher; Qantas shares up (28/11/2011)US retail sales grew by 6.6%; Aussie dollar back US$0.9800 level (27/11/2011) FTSE sees small gains as RBS and Lloyds attracts muted bargain hunting despite Italian bond auction (25/11/2011)Asian stocks had mixed trading day (25/11/2011)FTSE loses small in choppy trading – 9th straight losing day (24/11/2011)Flat trading expected in Asia with US close for Thanksgiving (24/11/2011) Asian stocks recover from early losses (24/11/2011)Global concerns may push Asian stocks lower yet again (23/11/2011)Chinese manufacturing data comes below expectation (23/11/2011)Global worries may dampen appetite in Asian markets (22/11/2011)FTSE 100 opens higher after 6 days of losses – Thomas Cook shares lose 51% (22/11/2011)Asian shares recover from early losses (22/11/2011)Sell-off in US and Europe will push Asian shares lower (21/11/2011)FTSE falls 2.6% as global debt fears grow (21/11/2011)EU stocks suffer deep losses as US debt gridlock and Moody’s France comments add to investor concerns (21/11/2011)US fiscal situation now concerns markets (21/11/2011) Flat start for Asian stocks; Warren Buffett to visit Japan (20/11/2011)FTSE 100 falls on bearish week for investors (18/11/2011)Equity markets subdued in early trading (18/11/2011)Asia closes lower on a difficult trading week (18/11/2011)Europe’s debt woes weighing down on Asian markets (17/11/2011)FTSE loses over 1.5% as euro debt cage is rattled again (17/11/2011) Bulls and bears fight it out in Asian trading today (17/11/2011)More weakness in Asian shares after losses in the US overnight (16/11/2011)Another choppy session for the FTSE after UK growth is downgraded (16/11/2011)Early losses recovered as FTSE gains small ahead of BoE inflation report (16/11/2011)Asian stocks trade lower; Aussie dollar slips (16/11/2011)Retail sales in the US may bring positive effect on Asian markets (15/11/2011)FTSE closes marginally unchanged after earlier fall of 1% (15/11/2011)Banks weigh on FTSE 100 as Italian/Spanish yields rise (15/11/2011) Asia still in the red amidst European uncertainties (15/11/2011)Asian markets expected to open lower on the back of weak offshore leads (14/11/2011)FTSE trades lower in slow trade as investors watch Italian/Spanish bond market turbulence (14/11/2011) Weaker start for EU indices despite Monti arrival; ITV leads on ad revenue (14/11/2011)
Asian shares rocket as Japan’s economy grows (14/11/2011)Asian shares up for strong trading today (13/11/2011) FTSE gains 1% but caution needed (11/11/2011) Tentative bounce for EU stocks ahead of Italian austerity vote (11/11/2011)Asian markets recover some ground (11/11/2011)Asian shares may see some modest gains today (10/11/2011)FTSE losses tempered somewhat by ECB bond intervention (10/11/2011)EU indices mixed after ECB intervention and Italian bond auction (10/11/2011)
More weakness for EU stocks as Italian bond auction eyed (10/11/2011) Sell-off in Asian shares (10/11/2011)Down day for Asian markets after massive falls in US and Europe (09/11/2011)Deepening Italian debt crisis weighs on the FTSE 100 (09/11/2011)Relief rally short lived as Italian bond yields race higher; Chinese inflation eases (09/11/2011)Asian shares gain as Europe show sign of resolving issues (09/11/2011)More gains expected in Asia as Berlusconi offers to step down (09/11/2011)FTSE 100 climbs 1% on corporate news but Berlusconi remains under threat (08/11/2011)European stock markets gain on company earnings - Italian vote is eyed (08/11/2011) Another mixed day for Asian shares as Euro concerns linger: Australia passes carbon tax bill (08/11/2011)Some positive news trickle from Europe; choppy session in Asia today (08/11/2011)FTSE loses 0.3% on Italian debt concerns as yields hit euro era highs (07/11/2011)
Italy concerns drag European stocks lower (07/11/2011)
Greece forms coalition government; Asian shares still mixed (07/11/2011)Mixed trading expected in Asia as Greece takes steps to resolve financial crisis (07/11/2011)FTSE gains on muted Greek optimism; non-farm payrolls eyed (04/11/2011)Asian Market Commentary: Asian stocks rally; markets eyeing US job numbers (04/11/2011)Markets eyeing US jobs numbers tonight (04/11/2011)FTSE closes higher by 1.1% after day of high drama in Greece (03/11/2011)European markets recover from opening weakness on rapidly changing Greek situation (03/11/2011) Greek uncertainty dampens Asian trading; ANZ Bank reports strong growth from Asia (03/11/2011)US’s commitment to support growth may push Asian stocks higher (03/11/2011)FTSE sees gains of 1% on commodity strength and better than expected ADP report (02/11/2011)Mixed performances across Asian indices; Japanese Yen remains a talking point (02/11/2011)Greek political wrangling causing nerves in the markets; Westpac Bank reports today (02/11/2011)Greek political turmoil sends equity markets tumbling (01/11/2011) FTSE loses another 2% on Greek referendum surprise (01/11/2011)
Australian central bank cuts interest rates; China PMI numbers down (01/11/2011) Doubts on Europe debts return; Asian stocks may trade lower (01/11/2011)
October 2011
Stock indices fall 1% after Japan intervention pressurises commodities (31/10/2011) Japan intervenes on the Yen again; Asian stocks mostly lower (31/10/2011)Risk appetite back as Europe tries to sort out issues; Qantas back in the air today (31/10/2011)More gains for European stock Indices as bank shares continue to rise (28/10/2011)European stocks markets turbocharged by EU Summit deal (27/10/2011)Euro zone deal provides relief rally but the key details are lacking for now (27/10/2011)European markets largely flat as traders await EU Summit (26/10/2011) European markets mixed as traders await EU Summit output (26/10/2011) FTSE ends lower by 0.4% as traders downsize risk ahead of EU Summit (25/10/2011)EU indices post more gains on positive company earnings – BP leads (25/10/2011)Equity markets extend gains on hope of eurozone deal (24/10/2011) Positive start for the week renews hope for the bulls (24/10/2011)Markets require a positive close today (21/10/2011)Caution is in the air before the European weekend summit (21/10/2011)Ongoing European issues still a dampener to Asian stocks (21/10/2011)Fragile market sentiment may dampen Asian share trading (18/10/2011)Asian Market Commentary: Asian markets in the red; China registers 9.1% growth (18/10/2011)Equity markets higher on expectations of eurozone deal (17/10/2011) Asian markets trade higher; Singapore exports fall (17/10/2011)Positive lead from the US may push Asian markets higher (17/10/2011)FTSE 100 closes above key level as Chinese inflation and IMF helps equity demand (14/10/2011)FTSE 100 at point of indecision – Chinese inflation helps miners (14/10/2011)Asian markets lower on continuing European concerns; China CPI reaches 6.1% (14/10/2011)Spanish downgrade may push Asian markets lower (14/10/2011)Asian Market Commentary: Asian stocks trading lower; Australia’s Lower House passes carbon tax bill(11/10/2011) Mixed fortunes for Asian markets; BHP secures approval to expand Olympic Dam operation (10/10/2011) BoE surprises by announcing QE2. ECB leaves rates on hold and FTSE charges 3.7% higher (06/10/2011) FTSE bounce continues as traders eye BoE and ECB rate decisions (06/10/2011) FTSE bounces 3% as US data encourages bargain hunting (05/10/2011) Stocks bounce but UK GDP revised down to 0.1% for Q2 (05/10/2011) Mixed gains for Asian shares; Australia reports healthy retail figures (05/10/2011)FTSE loses 2.58% as banking crisis looms (04/10/2011) FTSE loses another 2% on banking crisis fears (04/10/2011)Asia stocks may remain under pressure (04/10/2011)More pain for Asian stocks; Australian central bank keeps rates on hold (04/10/2011) UK Equity falls curtailed by stronger US ISM data (03/10/2011)Indices fall 2% on continued Greece contagion fears (03/10/2011)
September 2011
European markets lose ground – worst quarter for FTSE since 2002 (30/09/2011)European markets lose ground as banks weigh (30/09/2011)Lack of resolution on the eurozone debt leaves Asian markets mixed (30/09/2011)Positive leads may push Asian stocks higher today (30/09/2011)EU indices mixed despite positive German EFSF vote and US GDP reading (29/09/2011)EU stocks mixed as investors eye German EFSF vote and US GDP (29/09/2011) Mixed Asian session as European debt issue lingers; Hong Kong closes due to typhoon (29/09/2011)Negative leads from the US may dampen Asian trades today (29/09/2011)Markets weaker as traders weigh up the options – Man Group shares plummet 20% (28/09/2011)Mixed gains for Asian markets (28/09/2011)Positive lead from US and Europe may lift Asian markets (28/09/2011)FTSE rallies near 4% as European leaders plan action (27/09/2011)2% gains for FTSE as miners recover and investors gamble on rescue plan (27/09/2011) Asian markets bounce back strongly (27/09/2011)EU shares rise but FTSE underperforms on mining weakness (26/09/2011) EU stocks gain as traders digest speculated EU rescue plan (26/09/2011)Asian stocks still in the red on European concerns (26/09/2011)Slow start for Asian markets without any concrete move from IMF (26/09/2011)Share prices see more falls as investors look to G20 for action (23/09/2011)European markets see choppy trade as investors look to G20 (23/09/2011)Asian markets fall but declines mixed (23/09/2011)Sell-off may spread to Asia today (23/09/2011)FTSE loses over 4% as investors sell stocks on recession fears (22/09/2011)Global markets tumble after Fed announces ‘Operation Twist’ (22/09/2011) Asian shares take a battering after weak lead from the US; SABMillers new bid for Foster’s beer (22/09/2011) Asia may follow US leads lower today (22/09/2011) Inverstors downsize riskahead of FOMC decision (21/09/2011) Indices broadly weaker as traders eye FOMC decision; BoE minutes indicate QE2 closer (21/09/2011) Sense of optimism lifts Asian stocks (21/09/2011)Market may continue to be volatile as IMF revises growth forecast; David Jones to report today (21/09/2011)2% gains for FTSE as low volumes exacerbate moves higher (20/09/2011)Indices gain as traders eye FOMC and Troika/Greece decisions (20/09/2011)Asian stocks mostly lower as Italy was downgraded (20/09/2011)Markets decline whilst gold posts positive gains (19/09/2011)European concerns hang heavily on Asian stocks (19/09/2011)Asian markets expect to be positive today (19/09/2011)Stocks jump for a third day after Central Banks free up dollars to fill liquidity holes (15/09/2011)Third day of gains for European Indices - Kingfisher leads (15/09/2011)Asian market relatively flat; Rio Tinto raises $2 billion in corporate bonds (15/09/2011)Strong open forecast for Asian markets (15/09/2011)European stock markets post gains in choppy session (14/09/2011)Stocks recover from early falls on Euro Bond comments (14/09/2011)Flat session expected in Asian markets; Australian consumer sentiment numbers out today (14/08/2011)Asian stocks slide on weak sentiment; Australian consumer data upbeat but not enough to support the market (14/09/2011)European stocks recover from lows but sentiment still fragile (13/09/2011)China meeting with a view to buying Italian bonds fails to lift European stock markets (13/09/2011)Asian stocks recover some ground (13/09/2011) Asian markets may follow US markets to recovery today (13/09/2011)Greek default and French bank concerns trigger sharp fall in share prices (12/09/2011) European stocks hit new 2yr lows on fears over Greek default and French banks credit downgrade (12/09/2011) Asian sell-off as news of Greek default looms (12/09/2011)European indices suffer losses as ECB’s Stark resigns over bond buying (09/09/2011)FTSE sees small losses as investors digest central bank decisions and Obama stimulus plan (09/09/2011)Asian markets mixed toward the weekend (09/09/2011)Choppy session after ECB becomes more dovish on prospects. BOE keeps rates on hold (08/09/2011)Traders eye BoE and ECB rate decisions (08/09/2011)Australian jobs data disappoints (08/09/2011)European markets bounce back in bargain hunting (07/09/2011)Commodities lead European stocks higher – German court rejects bailout block (07/09/2011) Asian markets rebound strongly; Australia reports stronger than expected GDP (07/09/2011)Very choppy session sees more EU Index losses – FTSE gains (06/09/2011)EU Indices bounce on bargain hunting – SNB acts to weaken Swiss Franc (06/09/2011)Asian Market Commentary: Asia markets follow Europe’s lead lower; Australian central bank holds off on interest rate (06/09/2011)Sharp losses for European Indices on sovereign debt and growth concerns (05/09/2011)Investors start week on the back foot on global growth concerns and political fragility (05/09/2011)Asian stocks down; Foster’s under pressure as SABMiller complains to takeover panel (05/09/2011)FTSE finishes the week on a sour note on US jobs stagnation (02/09/2011)US jobs stagnation puts more pressure on the Fed (02/09/2011)Traders downsize risk ahead of Non Farm Payrolls (02/09/2011)Asian markets subdued as US jobs numbers come into focus ; James Packer buys more Crown shares (02/09/2011)FTSE recovers from early falls after ISM data beats forecasts (01/09/2011) Profit taking in miners pushes FTSE lower as banks charge higher on reform delay talk (01/09/2011)Asian stocks gain on first day of new trading month; Australian retail sales jump (01/09/2011)
August 2011
European indices continue charge higher as investors bet on QE3 (31/08/2011)European stock Indices gain for a third straight session led by miners (31/08/2011)Stocks cap bad month with gains (31/08/2011)FTSE rallies 2.7% as UK Index plays catch up (30/08/2011)More gains for EU stocks whilst FTSE 100 plays catch up after Bank Holiday (30/08/2011)More gains for Asian stocks (30/08/2011)Bernanke speech triggers very choppy market and trader indecision (26/08/2011)Investors downsize risk ahead of Bernanke speech at Jackson Hole (26/08/2011)Chinese banks post strong profits (26/08/2011)European stocks finish lower as German rumours sends DAX sharply lower (25/08/2011)Will Ben Bernanke announce QE3 at Jackson Hole? (25/08/2011)Stocks charge higher as investors cling to positive data and QE3 hopes (24/08/2011)Choppy trading as investors react to earnings and data (24/08/2011)EU stocks rally for second day but gains remain choppy (23/08/2011) Gains of 1.5% for EU Indices as China data supports (23/08/2011)FTSE rallies on commodity stocks but bank decline continues (22/08/2011)FTSE bounces from early loss to trade higher by 1% on commodity stock gains (22/08/2011)FTSE 100 set to open below 5000 (22/08/2011)Stocks lower again on debt, growth fears (19/08/2011)Miners and banks drag European Indices lower by 2% (18/08/2011)Asian markets break winning streak, falling slightly (18/08/2011)Sarkozy/Merkel meeting fails to inspire investors – Weale and Dale ditch rate hike calls in MPC minutes (17/08/2011)More gains for Asian markets (17/08/2011)Mixed bag of data drags UK and EU shares down (16/08/2011)EU indices fall over 1% on weaker German GDP reading (16/08/2011)Merger talk spurs Asian stocks (16/08/2011)FTSE trades higher on mining strength (15/08/2011)Stocks higher across Asia; Japan reports better than expected numbers (15/08/2011)European indices swing between gains and losses despite short selling ban (12/08/2011)Good end to a rollercoaster week for stock markets (12/08/2011)Asian stocks pare gains, end week slightly lower (12/08/2011)US indices lead Europe higher by 2.5% - French rumours swirl (11/08/2011) FTSE 100 opens with gains of 1.5% but choppy trading likely (11/08/2011)Asian stocks mixed despite negative leads (11/08/2011)Market turmoil continues after early equity rally is sold into on France rumours (10/08/2011)Sharp US turnaround leads Europe higher (10/08/2011)Asian stocks bounce from recent losses (10/08/2011)FTSE loses 5% to trade in bear market territory (09/08/2011)FTSE posts gains for first time in 7 sessions as US stocks see bounce – Fed eyed (09/08/2011)Huge volatility in Asian markets; Australian market recovers some ground (09/08/2011)Expect further declines over the coming weeks (08/09/2011)FTSE 100 recovers opening losses to post gains; IBEX and MIB both up 2% as ECB agrees to purchase bonds (08/08/2011)More losses for Asian stocks (08/08/2011)More falls for European stocks despite brief reprieve in US jobs data (05/08/2011)US non-farm payrolls better than expected (05/08/2011)Sell stampede continues after US markets drop 4% (05/08/2011)Asian stocks book large losses (05/08/2011)Initial bounce short lived as FTSE sees more losses (04/08/2011)Indices continue sharp declines on growth fears as payrolls awaited tomorrow (04/08/2011)Japanese government intervenes to stop further rise in the Yen (04/08/2011)Stock Indices slides 1.2% across Europe in early trade as risk aversion escalates (03/08/2011)Asian markets take heavy losses; Australian retail sentiment down (03/08/2011)Poor US data triggers risk aversion ahead of Friday's non-farms (02/08/2011)More ground lost for EU Indices on growth fears (02/08/2011)Relief rally short lived as economic data weighs (01/08/2011)Relief rally for stocks after US agrees to raise the debt ceiling (01/08/2011) Debt resolution in sight; across the board gains in Asian markets (01/08/2011)
July 2011
More falls for EU Indices as debt talks hit crunch time (29/07/2011)Tough week for Asian regional stocks as US debt concerns linger (29/07/2011)FTSE 100 recovers from early losses on US data (28/07/2011)Stock indices recover from early losses; Italian bond auction eyed (28/07/2011)Wall Street jitters difficult to dismiss; Asian markets all in the red (28/07/2011)European stocks lose ground as banks weigh; US debt setback triggers new record highs for safe haven assets (27/07/2011)EU Indices weigh heavily on EU and US debt fears (27/07/2011)Asian stocks down again on US gridlock; Australian CPI higher than expected (27/07/2011)Indices lose small; BP lags; UK Q2 GDP slows to 0.2% due to special factors (26/07/2011)Asian stocks rise despite uncertainties (26/07/2011)Dow Jones and FTSE swings between flat and negative as traders eye debt talks (25/07/2011)  Indices flat to negative; Gold hits new record on US debt talk hits brick wall (25/07/2011) No debt US deal hurts shares (25/07/2011)European Indices continue high as investors give EU debt plan the thumbs up, for now (22/07/2011)European stocks lose ground as traders eye EU meeting – China data weighs on miners (21/07/2011)European stocks gain on US earnings and seeming progress on debt ceiling (20/07/2011)Asian shares break losing streak; BHP iron ore output rises (20/07/2011)FTSE 100 gains 0.8% on commodity gains and bargain hunting (19/07/2011)Stocks higher on bargain hunting as investors weigh corporate vs macro battle (19/07/2011)Uncertainty dents Asian markets; Newscorp shares rise in Sydney (19/07/2011)Banks lead stock indices lower (18/07/2011)European Indices fall 1% as banks weigh on stress test and sovereign debt concerns (18/07/2011) Asian stocks start week lower; US debt and European concerns remain (18/07/2011)Stocks lower again as traders eye bank stress results (15/07/2011)Asian stocks mixed ahead of US debt talks (15/07/2011)European stocks open lower on Moody’s notice to US credit rating (14/07/2011) US concerns continue to drag Asian stocks down; retail stocks lead Aussie stocks down (14/07/2011)FTSE 100 posts gains of 0.6% - News Corp drops bid for BSkyB (13/07/2011)European stocks lifted as Chinese GDP lifts commodities (13/07/2011)Chinese data leads region higher (13/07/2011)Roller coaster day for stock market as investors weigh up sovereign debt picture (12/07/2011)European issues weigh on Asian region (12/07/2011)Stock indices slide on Italian debt concerns – FTSE VIX rises 22% on day (11/07/2011)EU indices lower again on Italy concerns – BSKYB shares below 700p (11/07/2011)Asian markets start the week lower (11/07/2011)Shockingly bad US payrolls adds weight to calls for QE3 and sends FTSE sharply lower (08/07/2011)European indices flat as traders eye non-farm payrolls (08/07/2011)Asian markets cap week with gains (08/07/2011)Stock Indices charge higher on positive ADP jobs report and Trichet’s move to suspend Portugal’s minimum rating requirement (07/07/2011)European Indices flat to higher ahead of ECB rate (07/07/2011)China moves to tame inflation (07/07/2011)Moody’s note triggers fall 0.5% for FTSE 100 to halt run of gains (06/07/2011) First fall in 9 sessions for FTSE 100 on banking weakness (06/07/2011) Indices higher again but upward momentum may be slowing (05/07/2011) FTSE trades marginally higher for eighth straight session though dollar advance warns of profit taking (05/07/2011)More moderate gains for Asian stocks (05/07/2011)Seventh day of straight gains for the FTSE (04/07/2011)Investors pause for breath somewhat after last week’s surge (04/07/2011)FTSE sees sixth straight day of gains, helped by strong ISM data (01/07/2011)Chinese manufacturing cools (01/07/2011)
June 2011
Yet more gains for Indices as investors hunt risky assets (30/06/2011)European rally continues for a fourth day in a row (30/06/2011)More gains as Greece solution passed (30/06/2011)FTSE rallies as Greece votes 'yes' to austerity package (29/06/2011)Traders buy stocks on expected 'yes' vote in Greece (29/06/2011)More gains for Asian markets (29/06/2011)Traders buy stocks on expected 'yes' vote in Greece (29/06/2011)European Indices rally 1% on Greece optimism (28/06/2011)FTSE rallies 0.3% but traders cautious ahead of Greece austerity vote (27/06/2011)Markets calm before the Greek storm (27/06/2011)Stocks rebound on Greek deal – Italian banking plummet confuses traders (24/06/2011)Asian market ends week mostly higher (24/06/2011)Stocks slide on economy woes whilst oil plummets 5% on IEA move (23/06/2011)European indices lose more ground on Chinese data (23/06/2011)Asian markets lower as momentum turns (23/06/2011)FTSE falls 0.5% on bank weakness and profit taking (22/06/2011)Asian markets continue recovery albeit slowly (22/06/2011)FTSE trades higher on bargain hunting (21/06/2011)Asian markets recover slightly on optimism (21/06/2011) Stock slide continues on Greek woes (20/06/2011)Regional markets still lacking conviction (20/06/2011)Prada cuts prices in IPO dash (17/06/2011)Markets could sell off further if current support fails (16/06/2011)Little conviction as markets continue falling (16/06/2011)European indices lose ground gained as banks weigh; UK benefit claims jump (15/06/2011)Most regional markets turn negative (15/06/2011)FTSE back around the 5800 level after Chinese data (14/06/2011)Chinese numbers help snap losing streak (14/06/2011)Indices in fragile condition and could see further falls (13/06/2011)FTSE closes at 2 ½ month low in potentially significant session for the summer months (10/06/2011)European indices tread water after China imports disappointment (10/06/2011)Asian markets advance as value emerges (10/06/2011)European indices gain; BoE rate unchanged; Trichet hints at July hike (09/06/2011)Asian markets mostly flat; Japan's economy contracts more than expected (09/06/2011)FTSE loses near 1% on Moody’s threat to UK’s AAA credit rating (08/06/2011)Bernanke comments do little for Asian markets (08/06/2011)European indices positive but trader buying cautious ahead of Bernanke speech (07/06/2011) FTSE 100 starts marginally higher – HMV relief on refinancing deal (07/06/2011)Asian shares still volatile (07/06/2011)EU indices flat to negative as jobs data continues to weigh (06/06/2011)Stocks end week lower; Tokyo Electric Power falls 24% after reporting earnings loss (06/06/2011)US non-farm payrolls shock markets; equities sell off (03/06/2011)Stocks end week lower; oil remains flat ahead of next OPEC report (03/06/2011)FTSE treads water as traders eye US jobs data (03/06/2011)Risk off as traders eye beaten down expectations for non-farm payrolls tomorrow (02/06/2011)Ecomonic data sends stocks lower (02/06/2011)European stock indices tread water after yesterday's surge (01/06/2011)Australian growth below expectations (01/06/2011)
May 2011
European stocks gain on Greece hopes but US consumer confidence and Chicago manufacturing disappoints (31/05/2011)FTSE starts week with a 1% gain tracking global stock indices higher (31/05/2011)Euro optimism helps Asian stocks; Nikkei rises over 1% (31/05/2011)Market slumber continues; copper prices surge as demand exceeds supply (30/05/2011)Banks lead the FTSE 100 higher on Basel III speculation (27/05/2011)Slow finish to the week (27/05/2011)European indices reverse gains on poor US GDP data(26/05/2011)European stocks indices gain, led by miners and banks (26/05/2011)Slight market recovery but earnings still mixed (26/05/2011)UK stocks bounce back from opening weakness - UK GDP unrevised (25/05/2011)Markets still trending lower; Japan posts $5.7 billion trade deficit (25/05/2011)European indices lifted from lows but traders still cautious (24/05/2011) Indices fall sharply whilst gold holds steady (23/05/2011) Australian banks weigh on Asian markets (23/05/2011)European Indices reverse gains on EU debt concerns (20/05/2011) Third day of gains for EU stocks as BP gets $1.1 billion settlement on spill costs (20/05/2011)Asian markets lacking clear catalyst (20/05/2011)FTSE climbs another 0.6% on gains in heavyweights despite late sell off (19/05/2011)Mixed news is good enough (19/05/2011)European indices continue higher; Glencore IPO launches (19/05/2011)EU stocks climb 1% on gains in commodity price (18/05/2011)FTSE rallies 1% from support levels once again (18/05/2011) Asian exchanges reverse losing streak to close higher (18/05/2011) EU stocks flat as traders eye Greek EU decision – Vodafone shares up 2% (17/05/2011)Asian stocks still sluggish; Japanese exporters benefit from weak Yen (17/05/2011)EU shares lower with Greece talks eyed (16/05/2011)Euro concerns rattle Asian exchanges; earthquake damages still hurting Japanese companies (16/05/2011)Stocks reverse earlier gains as traders reduce risk for the weekend (13/05/2011) Shares bounce back on bargain hunting and German/French GDP (13/05/2011)Commodity sell off continues to pressurise European indices  (12/05/2011) FTSE falls 1% as commodities continue to sell off (12/05/2011)Fall in commodity prices push Asian stocks lower (12/05/2011)FTSE rallies whilst sterling charges higher on BoE inflation report (11/05/2011)Commodity prices push Asian markets higher; China inflation number still high (11/05/2011)European indices climb 1% as China data lifts miners (10/05/2011)European markets post gains as miners are lifted by Chinese data (10/05/2011)Commodity prices push Asian markets higher; Australian budget to deliver massive cuts (10/05/2011)Risk off continues as stocks fall and dollar gains amidst Greek debt downgrade (09/05/2011)European bourses lose 0.2%-0.7% as debt concerns/HSBC results weigh (09/05/2011)Mixed trading day in Asia; Singapore shares up after national election (09/05/2011)Much better than expected US Jobs data lifts European indices (06/05/2011)European shares mixed; banks lower on Lloyds and Schroders results (05/05/2011) FTSE suffers falls of over 1.5% as ISM non-manufacturing data disappoints (04/05/2011)European indices mixed; retailers surge on Next profits (04/05/2011) Asian markets still under pressure; Japan Index manages to stay positive; Aussie dollar pulls back from highs (04/05/2011) FTSE flat as traders eye BoE rate and jobs data (03/05/2011)Europe mixed – miners lag as defensive sectors move higher (03/05/2011) Strong Asian markets; Australian central bank holds off on interest rate (03/05/2011)Japan stocks up while Australian shares end flat (02/05/2011) Miners and insurers help FTSE post small gains – Shell earnings beat expectations (28/05/2011)
April 2011
Asian shares upbeat; Japan production numbers down; Aussie dollar breezes past 1.0900 vs USD (28/04/2011)FTSE flat as traders eye Bernanke – Barclays/ABF earnings disappoint (27/04/2011)Barclays weighs on FTSE – UK GDP as expected – Traders eye Bernanke (27/04/2011)Asian markets holding well as Australia falls; Aussie dollar flying high (27/04/2011)European Indices rise and US consumer confidence beats expectations (26/04/2011)European Indices head higher on low volumes (26/04/2011)European indices mixed in light volume – Philly Fed misses (21/04/2011)European indices continue higher in unspectacular volumes (21/04/2011)Asian markets rebound strongly; Aussie dollar rockets higher (21/04/2011)FTSE 100 posts best day of gains for four-and-a-half months (20/04/2011)FTSE charges back 1.8% on commodities and earnings; BoE minutes show no increased threat of rate hikes (20/04/2011) Asian markets rebound strongly (20/04/2011)FTSE 100 picks up after a -2.10% decline (19/04/2011)Asian markets in the red on the back of negative leads from the US and Europe (19/04/2011)European indices fall 0.5% as miners and banks weigh; debt concerns continue(18/04/2011)Choppy trading day in Asian markets (18/04/2011)FTSE perks up, but struggles to find momentum (15/04/2011) Mining stocks weigh on the FTSE(14/04/2011)Mixed session for Asian markets; technology shares lead Japan higher (14/04/2011)European markets rebound as sentiment remains nervous (13/04/2011)Asian markets rebound led by car makers in Japan; lower oil price bodes well for airlines (13/04/2011)Nuclear concerns continue to drag Japanese stocks (12/04/2011)ICB report fails to ignite equity markets (11/04/2011)Car makers pull Japanese shares down; M&A activities dominate Australian market (11/04/2011)Strong metal prices push the FTSE back towards its highs (08/04/2011)Hong Kong and Japanese shares close up for the weekend (08/04/2011) Markets flat after recent gains (07/04/2011)Bank of Japan sets up special lending facility for disaster affected financial institutions; Australian unemployment data drops to 4.9% (07/04/2011)US Dow Jones on target for key levels (06/02/2011)Mixed sessions in Asian markets; ASX-SGX planned merger rejected (06/02/2011) FTSE 100 eases back after recent gains (05/04/2011)Car makers drag Japan market lower; Australian Reserve Bank keeps interest rate unchanged (05/04/2011)European markets take a breather after last week’s gains, FTSE 100 holds 6000 (04/04/2011)Hong Kong and Japan shares higher on the back of Wall Street lead (04/04/2011)European indices post positive gains for April start (01/04/2011) Asian shares open a new quarter slightly higher; Aussie dollar still rising (01/04/2011)
March 2011
Mixed performance among Asian stocks; Toyota hires more workers this month (31/03/2011)European markets trade higher as commodity stocks gain. DAX surges 1% (30/03/2011)Japanese stocks advance strongly; Australian equities also soar (30/03/2011)FTSE flat; UK Q4 GDP final reading marginally better; Wolseley leads on dividend reinstatement (29/03/2011)Asian stocks still under pressure; Aussie dollar shines (29/03/2011)European indices start the week positively; banks lead (28/03/2011)Asian shares tumble again; Woodside Petroleum stands out in Australian trading (28/03/2011)More positive trade for European equities – BP falls on Rosneft ruling (25/03/2011)Wall Street lead pushes Asian markets higher (25/03/2011)FTSE trades above 5800 level on retail strength (24/03/2011)Sentiment turns positive in Asia; beverage companies gain in Japan as government warns of contaminated drinking water (24/03/2011)European indices struggle – Sainsbury’s earnings disappoint, Portuguese vote eyed (23/03/2011)Asian markets wobble; uncertainty in Japan lingers (23/03/2011)FTSE struggles in afternoon session – traders bank profits (22/03/2011)European indices trade higher for fourth day in a row (22/03/2011)Japan stocks rebound strongly; Warren Buffett says Japan presents buying opportunity (22/04/2011)FTSE recovery continues as UK Index charges another 1% higher (21/03/2011)Asian markets register gains; Japan’s nuclear power plants cooling down (21/03/2011)European indices enjoy more gains but traders still edgy (18/03/2011)Asian markets rebound on news of G7 intervention (18/03/2011)European markets bounce back but traders remain cautious (17/03/2011)Japan pumps another $76 billion into economy; Asian markets remain jittery (17/03/2011)FTSE 100 trades lower on investor confusion on Japanese nuclear situation (16/03/2011)Japan stocks bounce slightly; Asian markets remain mixed (16/03/2011)Trading screens fill with red as investors flee risk on mass (15/03/2011)Japanese sharemarket falls further; anxiety prevails over Asian markets (15/03/2011)Insurers drag FTSE lower on Japanese exposure fears(14/03/2011) Asian markets plunge after Japan earthquake and tsunami (14/03/2011)EU markets lose almost 1% as correction fears loom(11/03/2011)Asian stocks fall on US and China concerns (11/03/2011)European markets trade lower on Spanish rating cut; Traders eye BoE rate decision (10/03/2011)Asian markets weighed down by global and regional concerns; miners pull Aussie market lower (10/03/2011)FTSE 100 hits new 5-week low as correction threatens (10/03/2011)Equity markets trade lower as investor concerns weigh (09/03/2011)European Indices mixed as trader’s gauge Portuguese bond auction and Libya (09/03/2011) Drop in oil price pushes Asian markets higher; miners pull Australian stocks down (09/03/2011)Miners drag European Indices lower as Libya concerns weigh on sentiment (08/03/2011)Equity markets remain edgy over concerns for Libya and oil prices (08/03/2011)Hong Kong leads Asian markets higher; Australian shares recover from early losses (08/03/2011)Equity markets consolidate gains despite rising oil prices (07/03/2011)European indices trade positively on Monday as banks gain (07/03/2011)Rising oil price still a worry for Asian markets (07/03/2011)Global Equity pare gains as solid employment data fails to impress (04/03/2011)European markets gain more ground on miners and energy stocks  (04/03/2011)European bourses climb as traders put Libya crisis to back of their minds (03/03/2011)Hong Kong shares fluctuate; Japan stocks stronger (03/03/2011)European Indices recover from lows as crude oil consolidates from highs (02/03/2011)EU indices fall on Libya and Middle East concerns despite earnings (02/03/2011) Oil price rise proves slippery for Asian markets (02/03/2011)European bourses climb as traders put Libya crisis to back of their minds (01/03/2011)Hong Kong shares fluctuate; Japan stocks stronger (01/03/2011)
February 2011
European markets snap back from last week’s falls, HSBC weighs on the FTSE 100 (28/02/2011)European indices trade lower on corporate earnings - HSBC weighs (28/02/2011)Technology and consumer stocks push Hong Kong index higher; Australian market flat (28/02/2011)EU markets trade positive on Friday - FTSE halted due to technical glitch at LSE. UK GDP deteriorates further (25/02/2011)Asian markets bounce strongly; Japanese government to invest on rare earth (25/02/2011)Equity markets pare losses but investors remain wary (24/02/2011)FTSE posts more losses as Nymex Crude Oil crosses $100 mark (24/02/2011)Risk aversion weighs on Asian markets; Kiwi dollar under pressure (24/02/2011)FTSE falls again on Libya woes – sterling rallies as three MPC members vote for rate hike (23/02/2011)Asian markets still jittery on Middle East concerns; Australia recovers some ground (23/02/2011)FTSE closes with small losses after another volatile day (22/02/2011)European markets fall as Crude Oil spikes on Libya unrest (22/02/2011)Escalating violence in Middle East rocks Asian markets; BHP buys into shale gas (22/02/2011)European markets fall on Libya unrest (21/02/2011)Middle East fears and China's tightening affect investors' sentiments (21/02/2011)FTSE finishes the week with a whimper (18/02/2011)China move knocks equities – UK retail sales surge in January (18/02/2011)Investors more positive on economic growth; Billabong shares up (18/02/2011)FTSE mostly flat in very quiet session (17/02/2011)Equity markets post new highs in subdued early trading (17/02/2011)Qantas shares fly high; Asian shares slightly up on the back of Wall Street (17/02/2011)FTSE flirts with new highs (16/02/2011)FTSE recovers Tuesday’s losses to rally 0.5% as banks gain again (16/02/2011)Finance stocks push Japan market higher; BHP shares down in Australia despite $10.52 billion profit (16/02/2011)Miners drag FTSE lower – UK inflation at 2-year high (15/02/2011)FTSE treads water as positive; Financial stocks counter weaker miners (15/02/2011)Mixed Asian sessions; Aussie dollar gains on strong commodity prices (15/02/2011)FTSE flat in trading as banks weigh on mining gains (14/02/2011)Japan shares gain for sixth straight day; miners boost Australian bourse (14/02/2011)Equity markets erase early losses ahead of UK PPI (11/02/2011)Fairly flat trading in Asian markets; Australia miners pull sharemarket lower (11/02/2011)FTSE closes lower as earnings disappoint – BoE rate causes no surprises (10/02/2011)Equity markets weaker ahead of BoE rate decision (10/02/2011)Hong Kong stocks slip lower; oil and gas shares pull Japan market flat (10/02/2011)Dividends in key stocks cause 0.2% fall in FTSE in quiet session (09/02/2011)FTSE lags wider Europe on dividends; traders pause for breath (09/02/2011)Three-day losing streak in Hong Kong shares; banks push Australian market higher (09/02/2011) European Indices post gains on US strength – traders shrug Chinese rate hike (08/02/2011)Equity markets subdued as UK Chancellor raises bank levy – Chinese rate hike knocks miners (08/02/2011)Japan shares up on good earnings while technology stocks pull Hong Kong market down (08/02/2011)Equity markets remain positive amid investor optimism (07/02/2011)European indices start the week higher on commodity gains (07/02/2011) Asian markets mixed after Chinese New Year break (07/02/2011)European markets post gains after mixed jobs number (04/02/2011)European Indices fall on US inflation concerns after ISM data(03/02/2011)Equity markets lose shine as oils drag and Egyptian tension weighs on sentiment(03/02/2011)Choppy session sees trader’s bank profits ahead of non farm payrolls (02/02/2011)Equity markets buoyed by positive US data and fears of contagion easing in the Middle East (02/02/2011)Asian markets rise on signs of strong global recovery (02/02/2011)FTSE charges 1.6% higher as commodity stocks surge (01/02/2011)
January 2011
Equity markets lower on Egyptian crisis (31/01/2011)   Egyptian unrest sends jitters to Asian markets (31/01/2011)  FTSE underperforms amid China caution and US GDP (28/01/2011) Miners pull FTSE 100 lower. Eyes on US Q4 GDP reading (28/01/2011)Japan's credit rating downgrade sends Asian markets lower (28/01/2011)Indices largely unmoved as miners balance weak banking stocks – Japan ratings cut shrugged off (27/01/2011)Asian markets follow Wall Street’s strong lead (27/01/2011)Dow Jones hits 12,000 after strong Home Sales data (26/01/2011)European equity markets buoyed in early trading following a strong final hour in US trading (26/01/2011)UK Q4 GDP shock sends FTSE lower (25/01/2011)UK Q4 GDP shocks with contraction of 0.5%; raises fears of a double dip recession (25/01/2011)Industrial stocks power Asian markets higher (25/01/2011)FTSE charges higher by 1% on miners, pharma and oil firms - Cocoa rises on export ban call (24/01/2011)European markets start with small gains – data eyed (24/01/2011)Mixed performance amongst Asian markets; Australian market pushed higher by banks (24/01/2011)European markets gain ground on bargain hunting (21/01/2011)China factor still weighing on Asian markets; Cathay Pacific shares down (21/01/2011)FTSE down 1% in early trading after China GDP raises fears of aggressive monetary tightening (20/01/2011)Asia weighed down by negative Wall Street lead; Australian miners pull index lower (20/01/2011)Goldman Sachs earnings trigger equity sell off - FTSE back below 6000 again (19/01/2011) Equity markets look to consolidate yesterday’s gains following positive updates from Apple & IBM overnight (19/01/2011)Another strong day in Asian markets; Aussie gains further against USD(19/01/2011)FTSE rallies 1% on strength in commodity shares(18/01/2011)Miners fuel equity markets early Tuesday morning(18/01/2011)Asian markets rise strongly as Europe's debt issue eases slightly (18/01/2011) EU indices treading water on Martin Luther King Day (17/01/2011)European markets start the week devoid of ‘energy’, apart from energy stocks (17/01/2011)Hong Kong stocks down on Chinese tightening measures (17/01/2011)Heavyweights drag FTSE lower but market off lows (14/01/2011)China move to hike reserve requirements triggers mining weakness; Intel’s earnings jump tech stocks; JPM eyed (14/01/2011)Finance stocks push Hong Kong market higher; Singapore index down (14/01/2011)FTSE falls after spike in jobless claims but Spanish and Italian indices are higher again (13/01/2011)Equity markets start the day in tentative fashion ahead of Euro Bond Auctions (13/01/2011)Portugal bond sales bodes well for Asian markets (13/01/2011)FTSE rallies in choppy trade after successful Portugese bond auction (12/01/2011)Miners drive equity markets higher (12/01/2011)Hong Kong market still rising; Floods continue to weigh on Australian shares (12/01/2011)Equity remains strong following positive morning session (11/01/2011) FTSE charges higher after company earnings and broker actions lift optimism (11/01/2011) Asian markets mixed; Queensland floods weighing on the Aussie dollar (11/01/2011)Equity markets remain cautious ahead of US reporting season (10/01/2011)European Indices start the week lower as investor’s eye US earnings season (10/01/2011)Finance stocks drag down Asian markets; Banks and mining stocks suffer in Australia (10/01/2011)Lower US payroll data weighs on European stocks (07/01/2011)FTSE sell off continues as traders eye strong jobs report (07/01/2011)Asia awaits US jobs data; commodity and property stocks down in Singapore (07/01/2011)FTSE gives up its gains after US labour market seen improving (07/01/2011)Equities remain in favour as FTSE consolidates above 6000 (06/01/2011) Aussie dollar under pressure, below parity as USD rebounds (06/01/2011)FTSE rallies on strong ADP jobs numbers (05/01/2011)Equity markets start the day in subdued fashion (05/01/2011)Energy and consumer stocks drag Hong Kong market; Australian bourse on slippery slope (05/01/2011)UK markets play catch up as FTSE welcomes New Year in with a bang (04/01/2011)FTSE starts the year with a bang – FTSE 100 up 2% (04/01/2011) Cathay Pacific and finance stocks boost Asian markets; Australian market flat despite strong miners (04/01/2011)
December 2010
FTSE falls on mining weakness as New Year approaches (31/12/2010)FTSE trades around 6000 as oil firms lag (30/12/2010)FTSE falls in light trade as investors slowly return (29/12/2010)Santa rally continues as FTSE flirts with 6000 (23/12/2010)European Christmas rally continues (21/12/2010) Asian markets up as Korean tension eases; Australian dollar holding ground against US dollar (21/12/2010) European Indices gain in light trade – FTSE likely to be stuck in range until New Year (20/12/2010) Hong Kong and Singapore stocks down; Tension in Korea weighing down on Asian markets (20/12/2010) FTSE flat as trader’s eye Christmas absence – banks weigh on Ireland credit downgrade (17/12/2010) Markets remain flat on triple witching day (17/12/2010)Thin volumes as holiday trading kicks in; Finance stocks led China Index lower(17/12/2010)European shares post small losses as investors scale down risky asset classes(16/12/2010)Mixed day in Asian markets(16/12/2010)Strong economic data from US helps Indices to recover from earlier losses(15/12/2010)Equity markets slightly lower, yet range bound and lacking direction(15/12/2010)Asian markets lower on China factor; Cathay Pacific shares dip(15/12/2010)FTSE 100 closes on its highs ahead of FOMC rate announcement (14/12/2010)European Indices trade slightly lower – FOMC and Retail Sales eyed (14/12/2010)Mixed day in Asian markets (14/12/2010)FTSE 30 points off 29 month high after surge in miners (13/12/2010)FTSE charges towards 5900 after China data maintains healthy risk appetite (13/12/2010)China's decision to hold off on interest rates pushes Asian markets higher (13/12/2010)FTSE flat, DAX gains – miners rally despite China’s bank reserve hike (10/12/2010)Bank shares prop up the FTSE but the Euro’s woes continue - HMV shares hit by guidance warning (09/12/2010)Hang Seng Index higher on energy and technology stocks (07/12/2010)European Indices rally on M&A activity – banks lower ahead of EU meeting (06/12/2010)FTSE fluctuates as euro zone worries offset QE3 chatter (06/12/2010)Strong commodity prices push market higher (06/12/2010)Indices across reverse gains after surprising slow growth in US jobs (03/12/2010)Indices climb another 0.8% as investors bargain hunt (02/12/2010)Strong early morning gains consolidated as banks and commodities drive equity markets up +2% (01/12/2010)European issue lingers and drags Asian markets lower (01/12/2010)
November 2010
European markets trade sideways as investors remain edgy (30/11/2010)Another down day in Asian markets (30/11/2010)European markets sink as bailout fails to stem euro zone fears (29/11/2010)European shares trade flat to lower with banks higher – IBEX continues to wobble (29/11/2010)FTSE falls 1.2% on low volumes as miners sell off (26/11/2010)Low volume day in Asia due to US holiday (26/11/2010)FTSE/DAX rallies 0.8% - IBEX woes continue on debt concerns (25/11/2010)Jobs data drives European markets higher (25/11/2010)Equity markets remain under pressure as eurozone and Korean concerns remain (24/11/2010)European markets slide as euro fears remain (23/11/2010)Asian markets sink on Chinese tightening concerns (23/11/2010)European shares driven lower on Irish jitters (22/11/2010)Strong start to the morning appears short-lived as caution prevails (22/11/2010)Chinese market higher on technology stocks (22/11/2010)Equities slide amid low volumes as China raises reserve ratio (19/11/2010)Equity markets hold gains as US economy shows signs of support (18/11/2010)Market strong as investors await Ireland’s fate (18/11/2010)Asian markets rebound as investors look for a bargain (18/11/2010)European equity markets edgy amid concerns over outcome of Ireland's debt woes (17/11/2010) Markets drift after yesterday’s correction (17/11/2010)Asian shares fall as markets swing from greed to fear (17/11/2010)Bank shares retreat on China and Ireland woes (16/11/2010)Stocks shrug off Ireland worries to post modest gains (15/11/2010)Markets drift as uncertainty remains (15/11/2010)Hong Kong market falls; another bid for AXA keeps Australian market busy (15/11/2010)European stocks fall on China and Ireland worries (12/11/2010)European markets tumble on euro fears and China worries (12/11/2010)Asian markets weaker; hopes of concrete resolution from G20 fading (12/11/2010)European markets flat – bank weakness cancels mining strength (11/11/2010)Banking and energy stocks lead Asian markets higher (11/11/2010)Eurozone debt problems and a stronger Dollar take the shine off of gold (10/11/2010)Indices largely range bound – Rolls Royce falls on uncertainty (10/11/2010)Most Asian markets slip on Chinese inflation concerns (10/11/2010) European markets close higher on corporate earnings and strong mining performance (09/11/2010) European markets push higher amid corporate cheer (09/11/2010)Hong Kong market slips as Singapore rises (09/11/2010)European Indices fall 0.5% on profit taking - Rolls Royce lifted after statement (08/11/2010)European markets pause for breath after reaching two year high on Friday (08/11/2010) Asian markets mixed as Australian stocks close lower (08/11/2010)European markets snap back after US jobs data (05/11/2010)Indices lower and market consolidates (05/11/2010) FTSE surges 2% on best trading day in 2 months after Fed injects $600bn (04/11/2010)Markets fly on Fed stimulus and corporate guidance (04/11/2010)Trading quiet as spotlight heads towards the Fed (03/11/2010)All eyes on tonight’s Fed decision – markets calm before the storm (03/11/2010)Asian markets relatively higher; all eyes on US quantitative easing decision (03/11/2010)European shares post gains ahead of US election outcome (02/11/2010)Corporate earnings lift FTSE 100 (02/11/2010)FTSE posts gains in choppy trading session (01/11/2010)China manufacturing data lifts equities (01/11/2010)China market up on strong Purchasing Managers Index numbers (01/11/2010)
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The Passion of the Mel — Capn Design
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The Passion of the Mel
The Passion of the Christ opens today in theaters across America.
According to Box Office Mojo, the film is opening on just over 3,000 screens.
Relatively, Lord of the Rings opened on 3,700, Lost in Translation maxed out at 800 or so, and In America maxed out around 400 after opening on just 11 screens.
Even more interesting is that Box Office Mojo is predicting a first weekend gross of $81.9 million.
That is crazy.
Metacritic is giving it a score of 50 and Rotten Tomatoes is rating it at 54%, which is officially a stinker.
One of my favorite critics, AO Scott, panned it whie Roger Ebert loved it.
I am presenting you with all this information because this movie is an anomoly.
It is a religious movie that is making it big due to its hype, which includes the strangeness of having an action star directing a movie about the death of Christ and accusations of anti-Semitism.
Personally, I don't plan on seeing it in the theaters.
From what I've heard, the film is anti-Semetic on some level and I don't want to contribute to that.
As people I know start to see it, I may change my mind, but for the moment I don't want to give money to a project that is potentially racist.
Despite my personal views, I am intrigued by the film's potentially huge first-weekend gross.
On the one hand it is frustrating that a religious movie, which I wouldn't expect to have mass appeal, is expected to do so well and open so wide when movies that I think are amazing get overlooked.
As I mentioned earlier, it sounds like this movie is riding on its hype.
Think about it logically -- do you think that a highly controversial religious film that is mostly in Latin and Aramaic would do well in the theaters if done by a no-name director?
Of course not, but that discussion will be saved for a future post.
I shall leave you with a final thought on the violence in this film, from my home-town critic, Roger Ebert.
Note: I said the film is the most violent I have ever seen. It will probably be the most violent you have ever seen. This is not a criticism but an observation; the film is unsuitable for younger viewers, but works powerfully for those who can endure it. The MPAA's R rating is definitive proof that the organization either will never give the NC-17 rating for violence alone, or was intimidated by the subject matter. If it had been anyone other than Jesus up on that cross, I have a feeling that NC-17 would have been automatic.
Posted at 12:10 PM
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tjk
02/25/04
4:51 PM
The NYT had a great review of the film, basically saying that the problem with the film is not its bigotry ("this on-screen villainy does not seem to exceed what can be found in the source material") but rather the excessive violence:
"a film made with evident and abundant religious conviction that is at the same time so utterly lacking in grace."
Not sure as of yet if i want to wait for this one to go to DVD.
your lady
02/25/04
9:19 PM
Having taken pictures for Newsday today of priests and rabbis post-viewing of this movie, interviewed the masses piling out of the theaters, and visited your link to Box Office Mojo, it seems utterly clear that people are going to either absolutely love or absolutely hate this film.
The priests called it amazing; the rabbis called it abominable and anti-semetic.
One Harvard-educated woman said it was a "dangerous" film, while a born-again christian said she was seeing it again on Saturday and taking her mother.
As a Jew, i am sure there is no way i would appreciate this film - I guess we'll be watching the DVD together, Matty. :)
About this Entry
The entry ‘The Passion of the Mel’ has 2 comments. It was published at 12:10 PM on February 25, 2004.
It was placed in the Music\TV\Film\Media category.
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Black
Is... 1998: Expression
Booklists
for Adults
*THE
AFRICAN-AMERICAN HERITAGE COOKBOOK: TRADITIONAL
RECIPES AND FOND REMEMBRANCES FROM ALABAMA'S
RENOWNED TUSKEGEE INSTITUTE  by Carolyn
Quick Tillery.
BASIC
BLACK: HOME TRAINING FOR MODERN TIMES by Karen
Grigsby Bates and Karen Elyse
Hudson.
An African-American etiquette book for the
90s.
DORINDA'S
TASTE OF THE CARIBBEAN COOKBOOK by Dorinda
Hafner.
Colorful photographs plus introductory tidbits
about each recipe and each island.
ELI REED: BLACK IN AMERICA by Eli Reed.
A study in photographic contrasts from the ordinary
to the famous.
EULOGIES
by Amiri Baraka.
Tributes to famous and not so famous people who
"represent a developed and advanced way of living
in the world."
*EVEN
THE STARS LOOK LONESOME by Maya Angelou.
Reflections on topics from Africa to
Oprah.
FACE
FORWARD: YOUNG AFRICAN AMERICAN MEN IN A CRITICAL
AGE  by Julian C.R. Okwu.
Photographic profiles of brothers who are positive
forces in their communities.
FAMILY
PRIDE: THE COMPLETE GUIDE TO TRACING
AFRICAN-AMERICAN GENEALOGY by Donna
Beasley.
Lists resources unique to
African-Americans.
FATHER
SONGS: TESTIMONIES BY AFRICAN-AMERICAN SONS AND
DAUGHTERS ed. by Gloria Wade-Gayles.
Complex relationships between fathers and their
children.
*LOVE
POEMS by Nikki Giovanni.
Romantic and erotic poetry.  Dedicated to
Tupac.
MAMA'S
LITTLE BABY: THE BLACK WOMAN'S GUIDE TO PREGNANCY,
CHILDBIRTH, AND BABY'S FIRST YEAR  by
Dennis Brown, M.D. and Pamela
Toussaint.
Also African, Caribbean, and African-American
traditional folklore.
MERRY
CHRISTMAS, BABY: A CHRISTMAS AND KWANZAA TREASURY
ed. by Paul L. Woods and Felix H.
Liddell.
Poetry, art, recipes, and remembrances.
THE
MUSIC OF BLACK AMERICANS: A HISTORY. 3rd edition by
Eileen Southern.
From the legacy of Africa to today's gospel, blues,
jazz, and rap.
*THE
NORTON ANTHOLOGY OF AFRICAN AMERICAN LITERATURE ed.
by Henry Louis Gates, Jr. and Nellie
Y. McKay.
A comprehensive sampling from slavery to the
present.
RHAPSODIES
IN BLACK: ART OF THE HARLEM RENAISSANCE by
Richard J. Powell.
SINBAD'S
GUIDE TO LIFE (BECAUSE I KNOW EVERYTHING) by
Sinbad with David Ritz.
From money to dating to kids to underwear, teh
comedian's point of view.
STILL
LIFE IN HARLEM by Eddy Harris.
"Here they and we and I could live completely
within ourselves, in a world all black, all our
own, and of our own making." A memoir.
*SUGAR
IN THE RAW: YOUNG BLACK GIRLS IN AMERICA ed by
Rebecca Carroll.
What's it like to be a black teenager in America
today?  From Mattapan and Roxbury to Seattle
and San Francisco.
*Recommended
for Teens
This
list is dedicated to the memory of KAREN L.
WILLIAMS.  A frequent contributor to Black
Is...
This
selected list was compiled by:  Moonyean
Carlton, General Library, Adult Reader and
Information Services; Marylou Coveney, Dudley
Branch; Janice Knight, Mattapan Branch; Amy Manson, Jamaica Plain Branch;
Sarah Markell, Charlestown Branch; Marilyn
Poindexter, General Library, Teen Services;
Jacquelyn Hogan, Chairperson, Grove Hall/Egleston
Square Branch Libraries.  Boston Public Library


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January 20, 2012
Judge: Red Bulls owe property taxes on Harrison stadiumA New Jersey tax-court judge has ruled that the New York Red Bulls owe property tax to the city of Harrison, despite playing in a stadium built on land owned by a tax-exempt public agency. The decision, if upheld, means that the team owes $3.6 million in back taxes for 2010 and 2011, plus similar amounts going forward.
Without getting too deep into tax law, public land usually goes untaxed — but it can be taxed, or can be subject to payments in lieu of taxes, if it's used for a strictly private purpose. Given that all the money collected at Red Bull Arena flows to the Red Bulls, the judge ruled that the "public" nature of the land was an accounting fiction, and demanded that the team cough up.
Whether cash-strapped Harrison will see any money from this anytime soon is uncertain — the Red Bulls have promised to appeal, which could drag this out for years. (They're also still stiffing the city on $150,000 a year in rent.) But at least there's a chance of the city getting something back for its $80 million in land and infrastructure and $173 million new train station, aside from a bunch of muddy lots set aside for theoretical future development. (According to Business Week, payments from developers are running at just over one-tenth what was projected when the arena project was first planned.)
Given the number of teams that use the public-land, private-use dodge to avoid a stadium tax bill — which is to say, pretty much all of them — it's going to be interesting to see if this ruling sets any kind of precedent. Given that tax law varies widely from state to state, and who knows if this will hold up under appeal anyway, probably not, but it's an interesting idea for local governments to try to recoup some of the money they blew on stadiums in the hopes of sparking development that never arrived.
Posted by Neil deMause in New York Red Bulls
COMMENTS
The Red Bulls are welcome in Harrison.
They can pay taxes like the rest of us overtaxed property owners.
The services the town provides in handling road traffic and what we have given up in convenient parking near the PATH station, not to mention the huge property tax increases we face for debt servicing are horrific.
This town is organized enough, and angry enough to make the Red Bulls pay up or move out completely.
If they would like to stall by appealing the decision, let's counter by forcing the stadium to go dark and let them sue us for eviction for failure to pay rent. Not paying contractual or court ordered settlements can work both ways.
I would sincerely advise them to come to some amicable terms very, very quickly: the Mayor should propose to EITHER enforce the entire tax or enforce a more equitable rent: say $320k per month (to pay for services) and give the team 30 days max to consider the deal.
The next Mayor of Harrison will have a 100% mandate to start blocking all access to the stadium unless a deal is reached, and that's for starters.
Any retained attorney that advises the team otherwise is merely padding their own fees: they shall not win anything for their client.
I'd rather vote for town bankruptcy and merger with Newark or Hudson County with cancellation of all civic services than let the Red BullS--t get away with leveraging against blue collar local home owners.
Sincere advice to Trenton and beyond: this has the potential to flare into a much bigger, much nastier, front page kind of embarrassment.
Suggest that the phone calls start going out to counsel in this case: the patience of the citizens has expired.
Posted by Peter Talbot on January 20, 2012 10:35 AM
Nice to see the tax courts actually demonstrate a backbone on this issue.
Posted by Joshua Northey on January 20, 2012 10:42 AM
Yeah, really sounds like they're "welcome" there. The club has been made the scapegoat for a lot of bad decisions and empty promises of ancillary development. As a RBNY fan I won't be spending a dime in Harrison if I can help it.
Posted by Matt on January 20, 2012 11:21 AM
Yeah, really sounds like they're "welcome" there. The club has been made the scapegoat for a lot of bad decisions and empty promises of ancillary development. As a RBNY fan I won't be spending a dime in Harrison if I can help it.
Posted by Matt on January 20, 2012 11:22 AM
@Peter Talbot -
Please contact Santa Clara Plays Fair - the group that is fighting the 49ers stadium in Santa Clara. We face the same property tax issue.
People here would like to hear about what your community is going through.
Our County Tax Assessor actually endorsed the stadium despite the lack of property taxes that will be paid because the city owns the land so it's being billed as a 'municipal' stadium although its purpose is as an NFL stadium.
No idea if the free 49ers tickets for the Tax Assessor, Larry Stone, reported on his campaign finance disclosure forms, influenced his decision to actually campaign for the stadium during the stadium election.
Santa Clara Plays Fair can be contacted here:
santaclaraplaysfair.org
Citizens all over the country who are fighting against being taken to the cleaners by pro-sports teams and their quest for stadiums need to come together to put a halt to public funding and giveaways for stadiums.
Posted by SantaClaraTaxpayer on January 20, 2012 01:32 PM
Larry Stone gets to hang out on the sidelines at 49ers games.
To turn around and campaign for the stadium while in office as assessor stuck me as being highly inappropiate.
To do so while accepting gifts from the 49ers is corruption.
Posted by santa clara jay on January 20, 2012 03:02 PM
Can someone help me understand the 1.8Mil a year assessment? Is it based on a full year (365 days a year) of occupancy?
If there were other tenants would they need to split the tax? Anyone know if there were other events there?
Posted by JB on January 20, 2012 06:14 PM
Can someone help me understand the 1.8Mil a year assessment? Is it based on a full year (365 days a year) of occupancy?
If there were other tenants would they need to split the tax? Anyone know if there were other events there?
Posted by JB on January 20, 2012 06:15 PM
JB;
Matters relating to assessment are complex, particularly as applied to commercial and 'non-linear' properties.
I deal with assessment appeals (though not in New Jersey) and thus have some general background in this area.
Every jurisdiction has it's own rules and regs as relates to assessment and taxation, and I make no pretense toward knowing what these are in the state of NJ.
In general terms, commercial buildings and non linear property (things like trains, utility distribution systems etc) are not assessed based on their replacement or "willing buyer/willing seller" fair market value (as private homes generally are).
The reason for this is pretty obvious, given that these types of properties tend to sell infrequently and when they do the price rarely reflects the cost to build or rebuild the same asset.
In general, commercial property is valued based on it's highest and best use (which isn't always what the land is currently used for... for example, if you had an old barn on 10 acres of land in mid town Manhattan, you wouldn't be paying taxes based on the value of the farmland, but on what it would sell for if it was presently on the market and zoned for a use consistent with it's surroundings).
Some types of commercial property are valued based on annual income (or potential).
This is a common method for rental and hotel properties.
We would need to know what method(s) the assessor used to arrive at an accurate explanation for the value given for this particular land and building, but I would assume RBA has been assessed based on it's income potential.
Although it may seem counter-intuitive, it is not uncommon for multimillion dollar sports facilities (or other types of buildings) to be assessed at 10-20% of their construction cost - even when they seem practically new.
This is a reflection of the income generating ability of the building itself as a standalone asset (whether or not such a building is a good investment when it is assessed at 15% of it's cost one year after opening is another matter entirely...)
In the rare instances where these facilities are sold (generally by the municipality that built and owns them), they often sell for a value not far from the "10-20%" value mentioned above - sometimes much less (see Skydome).
As I understand the lease/ownership arrangement at RBA, the club paid for the building (more or less) and are the owners of same.
Thus, they are subject to any tax burden deemed payable by the state (assuming the present judgment isn't reversed on appeal) regardless of what other tenants might be present or events may be held.
This amount could be reduced if, for example, the stadium owners have agreed to payments in lieu of taxes (Pilots) to cover things like infrastructure connections, policing and the like.
As far as I know, they haven't done so, but I am not fully familiar with RBA or any agreements made with the city/state.
Hope that helps...
Posted by John Bladen on January 22, 2012 03:42 PM
That is great info, John Bladen. Thank you.
Posted by Ben Miller on January 23, 2012 10:08 AM
You're welcome, Ben.
Quite often the answer to good questions like the one JB asked can lead to even more confusion!
Posted by John Bladen on January 23, 2012 12:55 PM
Very useful thank you. It does open a bunch of other questions but it could be never ending so I will stop there for now and do some research of my own. :-) (you provided plenty of direction for me). Thanks again.
Posted by JB on January 23, 2012 04:32 PM
John,
It's interesting to note that sports facilities depreciate like cars do. Glitzy and fun when new but hardly someone should view as a solid investment to own.
In Santa Clara the mayor is trying to refer to it as a "municipal" stadium. The 49ers will be paying no property tax. The Santa Clara County Assessor is all with this because he likes the 49ers so much.
Posted by santa clara jay on January 24, 2012 02:40 AM
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