Daily Market Commentary
- New Housing Prices in Canada were reportedly flat and up 1.5% in month-over-month and year-over-year terms, respectively.
- Initial Jobless Claims in the U.S. were reported at 315K, while continuing jobless claims were reported at 2.487M.
- Brent and West Texas Intermediate crudes declined to their lowest intraday levels in 16 months as the International Energy Agency cut global oil demand forecasts for this year and next.
- Gold fell toward a three-month low in London as investors assessed the outlook for an improving U.S. economy. Platinum reached the lowest in seven months and silver declined to the lowest since June.
- Copper fell to the lowest price since June in London amid a stronger dollar and signs of a slowing Chinese economy.
- Kinross Gold Corp. is in talks to sell its mothballed gold project in Ecuador in a move that could see the Lundin family develop the deposit, according to people familiar with the matter. For about a year, Kinross has been trying to exit Ecuador and divest the Fruta del Norte after clashing with the local government on the economic terms of the project. (Globe)
- BlackBerry Ltd. has acquired mobile technology company Movirtu Ltd., shoring up its smartphone management features as it targets business users.
- Lululemon Athletica Inc., the yoga-wear maker that recently ended a dispute with its founder, jumped the most in more than three years after boosting its annual forecast on quarterly profit that topped estimates.
- U.S. stock-index futures declined, after equities rose yesterday for the first time in three days, as investors awaited data on U.S. jobless claims for clues about when the Federal Reserve will start raising interest rates.
- Twitter Inc. is tapping debt markets for the first time, with plans to raise as much as $1.5 billion to invest in acquisitions and expansion.
- MasterCard Inc. lost a court challenge to a European Union antitrust curb on card-payment fees in a ruling that bolsters efforts to limit a cash cow for banks.
- European stocks were little changed, after four days of losses, as companies including Ocado Group Plc and Next Plc posted results.
- Scotland’s financial-services industry is threatening to head for the border, with Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc saying they plan to move to England if the country votes for independence.
- Goodgame Studios, the German maker of smartphone game Shadow Kings, is preparing an initial public offering as soon as this year.
- Asia stocks fell, with the benchmark index heading for its sixth day of decline, as investors weighed Chinese inflation data. Japanese shares extended their rally, while consumer and energy stocks slid.
- 21Vianet Group Inc., a Chinese Internet data-center operator, whipsawed investors in New York trading yesterday amid the heaviest volume on record after a short seller said the company is worthless.
*All information is taken from Bloomberg, unless otherwise noted.