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Market News

Location American Market News for 20 March 2013

J.P. Morgan Bosses Hit by Bank Regulator

Wall Street Journal - 20 Mar 2013 06:16
J.P. Morgan was downgraded in a confidential government scorecard over concerns about the company's management and its board, a blow to a firm that has long been considered one of the best-run on Wall Street.
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Marsh & Mclennan (MMC) maintained its quarterly dividend of 23 cents per share. The dividend is payable on May 15, 2013 to shareholders of record on April 10, 2013.
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Iberiabank Corporation (IBKC) maintained its quarterly dividend of 34 cents per share. The dividend is payable on April 26, 2013, to shareholders of record as of March 29, 2013.
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Fed Still Coasting: No Plan To Change Policy Until Jobs Outlook Improves Federal Reserve Chairman Ben Bernanke and his fellow members of the Federal Open Market Committee indicated that a pause in the economic recovery has given way to moderate economic growth once again, and offered no signa...
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Creditors Set to Reject Cyprus's Plan B

Wall Street Journal - 20 Mar 2013 19:46
International creditors were set to reject an alternative bailout plan Cyprus cobbled together a day after lawmakers rejected a tax on bank deposits, officials said.
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Housebuilder shares climb on home buying measures FTSE 100 and FTSE 250 rally following Chancellor's Budget speech.
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Barclays's Top Brass Get Share Awards

Wall Street Journal - 20 Mar 2013 19:33
Nine top Barclays executives including Chief Executive Antony Jenkins and investment banking head Rich Ricci received $60.8 million in shares from previous incentive plans, a month after the bank said it would take a str...
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Czechs May Drive Down Koruna

Wall Street Journal - 20 Mar 2013 19:25
As risks mount that the Czech economy could fall into a deflationary spiral, the chief of the country's central bank said he is weighing intervention in foreign-exchange markets as an option to weaken the local currency ...
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Las Vegas Sands Winning Bet Comes From Doubling Down In Macau A little less than 60% of Las Vegas Sands’ value comes from its operations in Macau, which has a gaming market almost five times the size of Las Vegas and is still growing. The U.S. gaming and casino companies are...
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Housebuilder shares climb on home buying measures FTSE 100 and FTSE 250 rally following Chancellor's Budget speech.
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Cyprus, EU Work on Contingency Bank Plans

Wall Street Journal - 20 Mar 2013 18:00
The Cyprus government is working with European officials on contingency plans in case of a crippling outflow of deposits from the island's banks.
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Osborne Warns of Skidding Economy

Wall Street Journal - 20 Mar 2013 17:43
U.K. Treasury chief George Osborne said growth would be much slower than expected and his government would have to borrow almost $90.6 billion more than planned, which is likely to fuel criticism of his austerity drive.
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Dow Sets Intraday Record

Wall Street Journal - 20 Mar 2013 17:23
U.S. stocks rose broadly, pushing the Dow Jones industrials to a record intraday high.
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In trading on Wednesday, music & electronics stores shares were relative leaders, up on the day by about 1.7%. Leading the group were shares of Conns (CONN), up about 2.8% and shares of Radioshack (RSH) up about 2.8% on ...
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In trading on Wednesday, rental, leasing, & royalty shares were relative laggards, down on the day by about 2.4%. Helping drag down the group were shares of Eca Marcellus Trust 1 Interest (ECT), down about 11% and shares...
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Should You Buy This Sector?

Forbes - 20 Mar 2013 16:24
Should You Buy This Sector? Tuesday?s early decline in the stock market was again well supported, as the major averages closed well off the day?s lows. The futures are strong in early trading, with the S&P 500 futures up more than six points.
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Anti-Gun Debate May Be Best Thing For Firearm Industry Since Obama's Election Gun sales in December alone--the month in which the Sandy Hook massacre occurred--nearly doubled to 2.8 million.
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Housebuilders climb on home buying measures

Telegraph - 20 Mar 2013 16:01
Housebuilders climb on home buying measures Both the FTSE 100 and mid-cap FTSE 250 rallied following the Chancellor's Budget speech.
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Is A EURO Short Squeeze Imminent?

Forbes - 20 Mar 2013 15:06
Is A EURO Short Squeeze Imminent? The Eurozone?s policymakers have never made it easy for the 17-member single currency. From inception, the EUR has been trading against many odds. Socially and culturally the currency was supposedly destined to fail. A d...
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Cyprus bail-out - live

Telegraph - 20 Mar 2013 13:08
The Cypriot finance minister has flown to Moscow to plead for aid, in defiance of calls from Angela Merkel to refrain from entering negotiations with Russia.
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Blue-chips edge higher ahead of Budget

Telegraph - 20 Mar 2013 12:12
Blue-chips edge higher ahead of Budget Dealers were also optimistic a new bailout plan for Cyprus would be reached.
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Freddie Sues Big Banks

Wall Street Journal - 20 Mar 2013 06:18
The government-controlled mortgage investor alleges the lenders caused "substantial losses" by suppressing an interest-rate benchmark.
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