Vietnam Oct Coal Output Estimated 3.35M Tons; Down 13% On Year
HANOI (Dow Jones)--Vietnam's coal production in October is estimated to have fallen 13% from the same month last year to 3.35 million metric tons, the General Statistics Office said Wednesday.
The country produced 2.877 million tons in September, according to revised GSO data.
In the January-October period, the country produced an estimated 34.916 million tons, up 4.2% compared with the same period last year, the GSO said.
Electricity output in October rose 17% from a year earlier to 7.5 billion kilowatt-hours, the GSO said. In September, Vietnam produced 10 billion kWh of electricity.
In the January-October period, Vietnam produced 69.7 billion kWh, up 12.3% from a year earlier.
Wednesday, October 28, 2009
DATA SNAP: German Saxony Oct CPI +0.1% MM, -0.1% YY
FRANKFURT (Dow Jones)--Consumer prices in the German state of Saxony, the first state to release inflation data for October, edged up in October from the previous month, but the overall subdued level of the index still doesn't signal any immediate acceleration in inflation.
Consumer prices rose 0.1% on the month and declined 0.1% on the year, data from the state statistics office showed Wednesday.
Prices for food and household energy continued to exert downward pressure, the data showed. Food and alcohol-free beverage prices fell 0.3% on the month and declined 3.4% on the year, while household energy prices fell 0.2% on the month and were down 6.8% on the year earlier.
In September consumer prices in Saxony fell 0.3% on both monthly and annual terms.
Five other German states will publish inflation data throughout the day Wednesday before the Federal Statistics Office publishes pan-German inflation figures.
Economists in a Dow Jones Newswires survey forecast steady prices on the month and a 0.1% decline on the year.
Web site: www.statistik.sachsen.de
Consumer prices rose 0.1% on the month and declined 0.1% on the year, data from the state statistics office showed Wednesday.
Prices for food and household energy continued to exert downward pressure, the data showed. Food and alcohol-free beverage prices fell 0.3% on the month and declined 3.4% on the year, while household energy prices fell 0.2% on the month and were down 6.8% on the year earlier.
In September consumer prices in Saxony fell 0.3% on both monthly and annual terms.
Five other German states will publish inflation data throughout the day Wednesday before the Federal Statistics Office publishes pan-German inflation figures.
Economists in a Dow Jones Newswires survey forecast steady prices on the month and a 0.1% decline on the year.
Web site: www.statistik.sachsen.de
Pound Extend Gains on Retail Sales
The pound gained versus most of 16 traded currencies as retail sales in the U.K. touched the highest level in 2 years in October, bringing confidence back towards pound-priced assets, after rather turbulent weeks that shunned away investors from the British currency in foreign-exchange markets.
EUR/GBP traded at 0.9039 as of 21:36 GMT from a previous rate of 0.9118 in the intraday.
Sweden’s Krona Down Further on Economic Outlook
The Swedish currency has been one of the biggest losers in the European currency market as producer prices declined again in September, raising concerns towards the economic recovery in the country.Since RiksBank affirmed that interest rates in Sweden will continue at record low levels to stimulate the economic growth in the Nordic country, the krona has been having negative sessions which aggravated today after producer prices fell in September, evidencing the fragility of the Swedish economy.
USD/SEK closed today at 6.9705 from an opening rate of 6.8691.
Canadian Dollar Strengthens on Decline Speculations
The Canadian dollar had the first session of recovery versus the greenback and several other major currencies after traders speculated that the current losing streak was not reflecting the present status of the Canadian economy, which is being one of the most resilient among wealthy nations.Even if BANK OF CANADA policy makers are constantly stressing on the fact that loonie rates should go down to ensure a fast recovery for the Canadian economy, the loonie gained today after several days of negative performance, after investors interpreted BOC statements as not-so-relevant compared to fundamental data regarding the Canadian economy during the past quarter, which is indicating a solid and resilient economy. The loonie gained today versus almost all major traded currencies except the yen, which gained significantly as investors opted for safety in a day of bearish performance in equities and commodities markets.
Analysts agree that even if policy makers are affecting the loonie’s perform in the short-term, the sentiment towards the Canadian currency remains very positive, as it’s back by crude oil rates, one of the main Canadian exports to the U.S., as also on the North American national economic fundamentals, which are better than most economic regions throughout the world.
USD/CAD traded at 1.0647 as of 20:43 GMT from 1.0716 hours earlier.
Sunday, October 18, 2009
Colombia IGBC Stock Index Rises On Expectations Of Lower Rates
Colombia IGBC Stock Index Rises On Expectations Of Lower Rates
BOGOTA (Dow Jones)--The Colombian stock index rose Friday on investors' expectations the central bank may further cut interest rates in a bid to slow the peso appreciation.
The benchmark IGBC stock index rose 0.7% to 10,942.50 points.
"Investors bought stocks as some of them expect the country's central bank may cut interest rates," said Cesar Tovar, market analyst with local brokerage Nacional de Valores.
Lower interest rates make companies' financial costs fall.
On Thursday evening, Colombian Finance Minister Oscar Ivan Zuluaga said the central bank will evaluate whether to start buying dollars on the spot market to tame the appreciation of the peso.
He said the bank will evaluate taking other measures.
Shares of Grupo de Inversiones Suramericana SA (GRUPOSURA.BO) rose 1.8% to 23,200 Colombian pesos ($12.58).
Shares of state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA (ETB.BO), or ETB, rose 3.6% to COP901.
The Colombian peso strengthened to 1,843.5 pesos to the dollar, from COP1,846 on Thursday. The yield on the benchmark peso-denominated government bond maturing in 2020 fell to 8.603% from 8.748% on Thursday.
BOGOTA (Dow Jones)--The Colombian stock index rose Friday on investors' expectations the central bank may further cut interest rates in a bid to slow the peso appreciation.
The benchmark IGBC stock index rose 0.7% to 10,942.50 points.
"Investors bought stocks as some of them expect the country's central bank may cut interest rates," said Cesar Tovar, market analyst with local brokerage Nacional de Valores.
Lower interest rates make companies' financial costs fall.
On Thursday evening, Colombian Finance Minister Oscar Ivan Zuluaga said the central bank will evaluate whether to start buying dollars on the spot market to tame the appreciation of the peso.
He said the bank will evaluate taking other measures.
Shares of Grupo de Inversiones Suramericana SA (GRUPOSURA.BO) rose 1.8% to 23,200 Colombian pesos ($12.58).
Shares of state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA (ETB.BO), or ETB, rose 3.6% to COP901.
The Colombian peso strengthened to 1,843.5 pesos to the dollar, from COP1,846 on Thursday. The yield on the benchmark peso-denominated government bond maturing in 2020 fell to 8.603% from 8.748% on Thursday.
Argentina Sep Indus Output -10.5% On Yr, +1.1% On Mo - OJF
Argentina Sep Indus Output -10.5% On Yr, +1.1% On Mo - OJF
BUENOS AIRES (Dow Jones)--Argentina's industrial output fell sharply in September on the year, indicating that the an economic recovery is still a ways off.
Industrial production fell 10.5% from the same month a year earlier but rose 1.1% on the month, the think tank Orlando J Ferreres & Asociados, or OJF, reported Friday.
Year-on-year output has now declined each month for the past year, according to OJF. That puts accumulated January through September output down 9.5% from a year earlier.
Still, September's increase in the month-on-month data was the third of its kind in a row, indicating that the industry's doldrums seem to have bottomed out.
OJF said results for the rest of the year will likely improve because they'll be compared with data from late 2008, when the global financial crisis was just starting to have an impact on Argentina.
Moreover, a solid recovery in Brazil, Argentina's top trade partner, as well as a "calmer financial situation," should help the sector through next year, OJF said.
The think tank's estimates coincide with other private sector estimates that indicate output has fallen sharply since the beginning of the global crisis.
But the data clash with official government figures that show only a minor slowdown in production.
The national statistics institute, Indec, will release official industrial output data on October 23.
Indec last reported that August output declined 1.7% on the year but was up 0.6% on the month.
Economists here routinely discard the reliability of official statistics, saying the data are tainted.
Government officials deny the charges.
BUENOS AIRES (Dow Jones)--Argentina's industrial output fell sharply in September on the year, indicating that the an economic recovery is still a ways off.
Industrial production fell 10.5% from the same month a year earlier but rose 1.1% on the month, the think tank Orlando J Ferreres & Asociados, or OJF, reported Friday.
Year-on-year output has now declined each month for the past year, according to OJF. That puts accumulated January through September output down 9.5% from a year earlier.
Still, September's increase in the month-on-month data was the third of its kind in a row, indicating that the industry's doldrums seem to have bottomed out.
OJF said results for the rest of the year will likely improve because they'll be compared with data from late 2008, when the global financial crisis was just starting to have an impact on Argentina.
Moreover, a solid recovery in Brazil, Argentina's top trade partner, as well as a "calmer financial situation," should help the sector through next year, OJF said.
The think tank's estimates coincide with other private sector estimates that indicate output has fallen sharply since the beginning of the global crisis.
But the data clash with official government figures that show only a minor slowdown in production.
The national statistics institute, Indec, will release official industrial output data on October 23.
Indec last reported that August output declined 1.7% on the year but was up 0.6% on the month.
Economists here routinely discard the reliability of official statistics, saying the data are tainted.
Government officials deny the charges.
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