Tag Archives: dow jones newswires

Chicago purchasing managers index falls more than expected in April (Dow Jones Germany)

2011-04-29 Chicago Panorama_dapd
CHICAGO (Dow Jones) – The Association of Purchasing Managers in Chicago on Friday reported a decline in the index of business activity in April to a seasonally adjusted 67.6. (Photo: DAPD)

Dow Jones Newswires had forecast Economists surveyed ahead a level of 68.0. In March, the figure was 70.6. Readings above 50 indicate an expansion points, numbers, including a contraction in manufacturing in the region.
It was almost recorded a decline in all indices, such as the VCD on. Thus, the index was for production to 70.0 (previous month: 74.2), the index for new orders was reported as 66.3 (74.5). For the employment index, a value of 63.7 (65.6) was reported. The index for prices paid fell to 81.8, according to the information (83.4).
The purchasing managers ‘index for the Chicago area is of observers pay special attention because he conclusions about the national purchasing managers’ index of the Institute for Supply Management (ISM) allows. However, the Chicago area is mainly on the U.S. auto industry dominated and this allows a correlation not always observed throughout.

ISE Stock Exchange German press into the red in 4Q

FRANKFURT (Dow Jones) – High depreciation of the U.S. derivatives subsidiary, International Securities Exchange (ISE) led the German Stock Exchange in the fourth quarter as expected in the red.

As the Dow Group announced on Tuesday evening in Frankfurt, while sales rose to 518.4 million from EUR 505 million, while had expected Dow Jones Newswires poll of analysts of 528 million EUR turnover. At the same time the net loss after tax rose to 61.2 million from third parties, and EUR 33 million last year. Here, analysts had expected minus EUR 83 million. In the third quarter, the German stock market was in the black.

Again, the derivatives exchange caused quite a quarterly loss of DAX-listed company. Exactly one year ago, the German stock market to EUR 420 million already had been written originally purchased for EUR 2.8 billion U.S. subsidiary. As previously announced, the ISE, the parent company is now forced to income to around EUR 453.3 million depreciation, of which 220 million EUR.
Background to the recent book losses are still pending approvals for certain functions and the restrained market development. The U.S. derivatives subsidiary ISE is struggling, some American options exchanges that promote the business through high incentives to their customers. In addition, competitors such as belonging to the NYSE € Next Amex market participants as owners have brought on board. These direct order flow to the Amex to now. Even last summer, a U.S. court also ruled that only the Chicago Board Options Exchange (CBOE) lucrative options on the S & P may offer 500th
The prevailing low interest rate environment also impacted the quarterly results in the securities clearing. Net interest income in the banking business of the subsidiary were to Clearstream to 16.9 million, from EUR 17.7 million and met so that the market expectation.
EBIT of the Group was in the last quarter of minus EUR 219.3 million compared to minus EUR 166 million. Thus, it was below the forecast of analysts minus EUR 233 million. Basic earnings per share was EUR 0.33 EUR 0.18 EUR minus a year earlier.

Daimler wants to sell its EADS shares or 2011 – FTD

EadsEFW013 BERLIN (Dow Jones) – Daimler AG will sell to a report in the Financial Times Germany "in the current year its remaining 15-percent equity stake in European Aeronautic Defence and Space Company EADS. (Photo: BDLI / EADS)

From industry sources had been reported that Daimler to sell the shares while the federal government, urge, however at a price, as it would pay outside investors, according to the report published on Tuesday. Thus, there exists the interest of Arab investment companies.
"We do not comment on the speculation," a Daimler spokesman for Dow Jones Newswires: "In the long term, we will ask ourselves, however, the discussion of the shareholder structure of EADS." He also pointed out that the agreement had been written about the ownership structure by 2012. Daimler currently holds 22% of the voting rights, but has sold 7.5% of its shares in 2007 to a consortium of banks.
The federal government refrained from comment on the report. Neither the Federal Ministry of Finance (BMF) nor the Federal Economics Ministry (BMWi) wanted to give on Tuesday at the request of Dow Jones Newswires to an opinion. EADS would also not comment on the report and referred to the shareholders.
According to government sources, the newspaper said, is to be the issue of the EADS stake boss. On 23 Wanted to talk in February, Chancellor Merkel, Finance Minister Schäuble, Vice Chancellor and Minister of Economy Westerwelle Brüderle in the Chancellery of EADS.
Daimler exaggerating the phase-advanced in part because of the re-emerging risks of EADS. The investment is politically sensitive. Germany and France have created over anchor shareholders, a balance of power in the Airbus parent, which would interfere with the withdrawal of Daimler in danger.
Last week, already told the Frankfurter Allgemeine Zeitung, "the Stuttgart-based car manufacturer wanted to sell. The talks, however, stood at the beginning.

Website: www.ftd.de 

Federal Government expects rapid positive decision to HRE

2009_03_16_HRE3 BERLIN (Dow Jones) – The Federal Government expects will soon take a positive decision by the EU Commission in the aid process for Hypo Real Estate AG (HRE). (Photo: HRE)

"The federal government is after talking with Mr. Vice President Almunia very confident in the near future to obtain a final and positive decision by the European Commission, the restructuring and continued the HRE", said the Ministry of Finance (BMF) on Friday in Berlin. An early end to the aid process is also in the interest of the Federal Government.
This is "a decisive step for a sustainable restructuring perspective, and thus also for a successful re-privatization of the HRE, BMF spokesperson Jeanette Schwamberger said at the request of Dow Jones Newswires. To support a rapid termination of the aid process, the government was in close and constructive dialogue with the EU Commission. The Federal Government is taking part but not to public speculation, which lead to definitive conclusions, the Commission under the existing aid procedure.
According to a report in the Handelsblatt (Friday edition) HRE on removal of toxic assets and no longer projected to the core business areas has operated with incorrect assessment approaches and to receive unauthorized aid. Relying on government and financial circles, the Journal reported, had not yet been decided where the bank now had to continue to shrink.
HRE recalls that took place in October 2010, the transfer of assets to the bad bank FMS value management with legal requirements at book value. "This is the approach we have revealed of course to the EU Commission," a spokesman told Dow Jones Newswires on request. Furthermore, the nationalized company expects in the first half with the approval of the billion-dollar rescue plan. On possible requirements of the Commission took no position of the speaker. By the European Commission was obtained in the short term opinion.

UK GDP falls unexpectedly in the fourth quarter


FRANKFURT (Dow Jones) – The ranks of GDP releases of the major industrial countries began on Tuesday with an unpleasant surprise. (Photo: Reuters)

Britain’s gross domestic product (GDP) declined from the previous quarter by 0.5% while the Dow Jones Newswires survey of analysts had forecast a rise of 0.4%. In the third quarter, an increase was reported by 0.7%. Compared to the same period, GDP grew by 1.7% in the fourth quarter, after growth of 2.7% in the third quarter. Economists had expected an increase of 2.6% over the year. The pound and the London stock market gave the morning after strong.
National Statistics said the first fall in GDP since the third quarter of 2009, especially with the severe winter weather in December. The heavy snowfalls have affected mainly the services sector, but also the construction industry, it said. Without the impairment by the onset of winter, the economic performance in the fourth quarter after the presentation of a statistician would have been constant. Economists expressed their disappointment to skepticism about the data, but were confident that the second card GDP will be positive.
"The business surveys – even those for December – suggests not remotely indicate a weakness in GDP, as reported here," complained Citigroup economist Michael Saunders. Saunders pointed out that the British GDP data were released relatively early, which often prefer to be strong revisions. If National Statistics barely subject data for December, in which the heavy snow cases occurred. Moreover, are data in the construction industry, for a minus of 3.3% was reported, have been very volatile recently.
ING economist Rob Carnell well-expressed view of the next release will hope for an upward revision. "The first GDP figures are based on a fairly narrow range of production indicators, and it is likely that the next time pending use-side data will look less weak," he said. could nevertheless warned Carnell, take that with so weak data, the concerns about the impact of government cost cutting program and the incentives for investments in pounds disappear. The pound depreciated against the dollar in the morning from 1.5900 to £ 1.5750 from / USD, the FTSE 100 lost 0.8%.
Simon Hayes of Barclays Capital warned against pinning too much hope for an upward revision in second publication. Although revisions are quite common, but they fell by 0.1 to 0.2 percentage points is usually not very high, so that one can ignore the current GDP estimate is not easy, he argued, adding: "Even by statisticians brought into play weather-adjusted GDP stagnation questions about the sustainability of the economic recovery would raise. "

Website: www.statistics.co.gov
By Hans-Bentzien, Dow Jones Newswires, +49 (0) 69 29725 300
Hans.Bentzien @ dowjones.com
DJG / res / mle / dok