Investors should buy gold stocks such as Kinross Gold Corp. because mining companies may rise faster in the next two years than the precious metal they sell, said London-based Baker Steel Capital Managers LLP.
The supply of gold is falling as mining companies struggle to make discoveries even as rising global wealth spurs demand for jewelry, Trevor Steel, co-founder of Baker Steel, which has $900 million in assets, said in an interview on Nov. 16.
Gold approached the $850 an ounce peak on Nov. 7, buoyed by a weaker dollar and record energy prices. JPMorgan Chase & Co., investor Marc Faber and London-based researcher GFMS Ltd. are predicting prices to top $1,000 next year. The gains still aren't reflected in many analysts' profit estimates, said Steel, suggesting gold-mining companies could climb higher.
``These companies will grow though it may take a while for people to discover them,'' said Steel, before speaking at a two- day conference starting today in Mumbai. ``Gold shares give more leverage than gold alone as you are participating in the company's growth.'' Kinross, Gold Reserves Inc., Golden Star Resources Corp. and Iamgold Corp. are among his favorite picks.
Gold has climbed 24 percent this year to the highest since 1980, outpacing the 21 percent gain in the Philadelphia Gold & Silver Index of companies, including Barrick Gold Corp. and Newmont Mining Corp., the biggest miners. The metal has tripled from a 20-year low in July 1999, while Barrick and Newmont have more than doubled in value.
Falling Output
Baker Steel's Genus Dynamic Gold Fund, which has about $300 million in mining companies' shares, has risen 28 percent this year, exceeding the 21 percent gain in the FTSE Gold Mines Index, according to Bloomberg data. The fund has surged fourfold since its launch in April 2003.
Kinross Gold, Canada's third-biggest gold producer, was the fund's top holding on Oct. 31, making up 5 percent of its value, Steel said. The stock climbed 1 percent to C$16.94 on Nov. 16 in Toronto, the third-biggest gainer on the 16-member Philadelphia index, according to Bloomberg data.
Mine output, which last year dropped to a 10-year low, will fall a further 1.6 percent in the second half to 1,284 tons as it gets harder to extract the precious metal from deeper and older mines, according to GFMS.
``The supply of other metals like aluminum and copper is rising, while gold-mining companies have not been able to keep pace'' with demand, fund manager Steel said.
Gold demand rose 19 percent in the third quarter to 947 tons, led by a sevenfold increase in investment in exchange- traded funds backed by bullion, the producer-funded World Gold Council said last week.
investpennystocks.com
понедельник, 19 ноября 2007 г.
пятница, 16 ноября 2007 г.
Asian Stocks Fall, Led by Exporters, Banks on U.S. Outlook
Asian stocks fell for a second day, led by Toyota Motor Corp. and Canon Inc., after Bank of Japan Deputy Governor Toshiro Muto said growth could be threatened if the U.S. housing slump spreads.
Mizuho Financial Group Inc. and HSBC Holdings Plc dropped on concern banks may report widening losses from U.S. home loans to borrowers with poor credit after Wells Fargo & Co. said yesterday it's the worst housing market since the Great Depression.
``You just don't see an end to the subprime housing-loan problem,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``Unless we see some light at the end of the tunnel, we can't expect the market to rise.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.2 percent to 157.78 as of 1:16 p.m. in Tokyo. The index has lost 7.9 percent in November, set for its biggest monthly drop since September 2001.
All 10 industry groups on the measure dropped today, with a group of financial stocks as the biggest contributor to the decline.
Falling stocks worldwide have wiped out more than $1.8 trillion in global market value this month to Nov. 14, according to data compiled by Bloomberg.
Japan's Nikkei 225 Stock Average slid 1.6 percent to 15,150.68, while the broader Topix index slumped 2 percent. Benchmarks in other markets open for trading fell, except in New Zealand.
Exporters Decline
In the U.S, the Dow Jones Industrial Average decreased 0.9 percent to 13,110.05. The Standard & Poor's 500 Index lost 1.3 percent and the Nasdaq Composite Index slipped 1 percent.
Toyota Motor, which gets about 70 percent of its profit from operations in North America, fell 1.6 percent to 6,120 yen. Canon, the world's biggest seller of digital cameras, declined 1.6 percent to 5,480 yen. Other stocks tumbled on concern the U.S. housing recession will crimp demand from Asia's biggest export market.
The yen strengthened to 110.03 to the dollar at 10:21 a.m. in Tokyo from 111.26 at the close of the Tokyo Stock Exchange yesterday. A stronger Japanese currency decreases the value of companies' overseas earnings when translated into yen.
Samsung Electronics Co., South Korea's largest exporter, retreated 2.1 percent to 558,000 won. James Hardie Industries NV, the biggest seller of home siding in the U.S., dropped 1.7 percent to A$6.26 in Sydney.
all-penny-stocks.com
Mizuho Financial Group Inc. and HSBC Holdings Plc dropped on concern banks may report widening losses from U.S. home loans to borrowers with poor credit after Wells Fargo & Co. said yesterday it's the worst housing market since the Great Depression.
``You just don't see an end to the subprime housing-loan problem,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``Unless we see some light at the end of the tunnel, we can't expect the market to rise.''
The Morgan Stanley Capital International Asia Pacific Index fell 2.2 percent to 157.78 as of 1:16 p.m. in Tokyo. The index has lost 7.9 percent in November, set for its biggest monthly drop since September 2001.
All 10 industry groups on the measure dropped today, with a group of financial stocks as the biggest contributor to the decline.
Falling stocks worldwide have wiped out more than $1.8 trillion in global market value this month to Nov. 14, according to data compiled by Bloomberg.
Japan's Nikkei 225 Stock Average slid 1.6 percent to 15,150.68, while the broader Topix index slumped 2 percent. Benchmarks in other markets open for trading fell, except in New Zealand.
Exporters Decline
In the U.S, the Dow Jones Industrial Average decreased 0.9 percent to 13,110.05. The Standard & Poor's 500 Index lost 1.3 percent and the Nasdaq Composite Index slipped 1 percent.
Toyota Motor, which gets about 70 percent of its profit from operations in North America, fell 1.6 percent to 6,120 yen. Canon, the world's biggest seller of digital cameras, declined 1.6 percent to 5,480 yen. Other stocks tumbled on concern the U.S. housing recession will crimp demand from Asia's biggest export market.
The yen strengthened to 110.03 to the dollar at 10:21 a.m. in Tokyo from 111.26 at the close of the Tokyo Stock Exchange yesterday. A stronger Japanese currency decreases the value of companies' overseas earnings when translated into yen.
Samsung Electronics Co., South Korea's largest exporter, retreated 2.1 percent to 558,000 won. James Hardie Industries NV, the biggest seller of home siding in the U.S., dropped 1.7 percent to A$6.26 in Sydney.
all-penny-stocks.com
Germany Stocks Update: DAX Index Falls 47.59 to 7,619.44
Germany's benchmark stock index, the DAX Index, fell 0.62 percent at 9:05 a.m.
The index of 30 companies traded on the Frankfurt Stock Exchange fell 47.59 to 7,619.44. Among the stocks in the index, 2 rose, 26 fell and 2 were unchanged.
Declines in the DAX were led by Allianz Se, Siemens Ag and Deutsche Bank Ag. About 2.35 million shares traded in the DAX.
all-penny-stocks.com
The index of 30 companies traded on the Frankfurt Stock Exchange fell 47.59 to 7,619.44. Among the stocks in the index, 2 rose, 26 fell and 2 were unchanged.
Declines in the DAX were led by Allianz Se, Siemens Ag and Deutsche Bank Ag. About 2.35 million shares traded in the DAX.
all-penny-stocks.com
четверг, 15 ноября 2007 г.
Japan's Nikkei 225 Declines on Concern U.S. Spending Slowing
Japan's Nikkei 225 Stock Average dropped. Exporters including Honda Motor Co. fell after reports from the U.S. suggested consumer spending is slowing in Japan's largest overseas market.
Honda, Japan's No. 2 automaker, snapped a two-day advance after the Commerce Department said U.S. department store sales fell last month and Macy's Inc. slashed its earnings forecast.
Advantest Corp. led semiconductor-related shares lower after Applied Materials Inc., the largest maker of chip- production machines, said profit slid 6.1 percent last quarter.
``Consumption will probably become weaker and weaker in the U.S., so I'm not bullish for the economy and the stock market,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo.
The Nikkei 225 slid 103.26, or 0.7 percent, to 15,396.30 at the close of trading in Tokyo, its ninth decline in the last 10 days. The broader Topix added 1.15, or 0.1 percent, to 1,498.86. About three shares rose for every two that fell among the 1,718 Topix members.
Commodity-related shares including Mitsui & Co. advanced, leading gains in the Topix, after the price of oil had its biggest gain in two weeks and copper rose the most in 16 months. Daikin Industries Ltd. climbed after Japan's biggest maker of air conditioners said first-half profit doubled.
U.S. Spending
Honda slid 50 yen, or 1.3 percent, to 3,830. Nintendo Co., Japan's second-largest video-game maker, fell 700 yen, or 1.1 percent. to 63,300 in Osaka. Sharp Corp., Japan's largest maker of liquid-crystal display televisions, slumped 52 yen, or 2.8 percent, to 1,778.
U.S. department store sales fell 0.5 percent in October, the Commerce Department said yesterday. Additionally, Macy's Inc. tumbled the most in five years after saying same-store sales may drop in the fourth quarter and revenue will grow less than expected. The reports damped confidence sparked by Wal-Mart Stores Inc.'s earnings the previous day that exceeded analyst estimates. The U.S. is Japan's largest export market.
Advantest, the world's biggest maker of equipment used to test computer memory chips, slid 140 yen, or 4.6 percent, to 2,930, the lowest since July 2003. Tokyo Electron Ltd., the second-biggest maker of machines used to make semiconductors, fell 210 yen, or 3.4 percent, to 6,040.
Applied Materials said yesterday a computer-memory chip slump will reduce orders until the first half of next year. The company's shares fell 4.3 percent to $18 in extended trading.
pennystock-investor.com
Honda, Japan's No. 2 automaker, snapped a two-day advance after the Commerce Department said U.S. department store sales fell last month and Macy's Inc. slashed its earnings forecast.
Advantest Corp. led semiconductor-related shares lower after Applied Materials Inc., the largest maker of chip- production machines, said profit slid 6.1 percent last quarter.
``Consumption will probably become weaker and weaker in the U.S., so I'm not bullish for the economy and the stock market,'' said Soichiro Monji, who helps oversee $47 billion at Daiwa SB Investments Ltd. in Tokyo.
The Nikkei 225 slid 103.26, or 0.7 percent, to 15,396.30 at the close of trading in Tokyo, its ninth decline in the last 10 days. The broader Topix added 1.15, or 0.1 percent, to 1,498.86. About three shares rose for every two that fell among the 1,718 Topix members.
Commodity-related shares including Mitsui & Co. advanced, leading gains in the Topix, after the price of oil had its biggest gain in two weeks and copper rose the most in 16 months. Daikin Industries Ltd. climbed after Japan's biggest maker of air conditioners said first-half profit doubled.
U.S. Spending
Honda slid 50 yen, or 1.3 percent, to 3,830. Nintendo Co., Japan's second-largest video-game maker, fell 700 yen, or 1.1 percent. to 63,300 in Osaka. Sharp Corp., Japan's largest maker of liquid-crystal display televisions, slumped 52 yen, or 2.8 percent, to 1,778.
U.S. department store sales fell 0.5 percent in October, the Commerce Department said yesterday. Additionally, Macy's Inc. tumbled the most in five years after saying same-store sales may drop in the fourth quarter and revenue will grow less than expected. The reports damped confidence sparked by Wal-Mart Stores Inc.'s earnings the previous day that exceeded analyst estimates. The U.S. is Japan's largest export market.
Advantest, the world's biggest maker of equipment used to test computer memory chips, slid 140 yen, or 4.6 percent, to 2,930, the lowest since July 2003. Tokyo Electron Ltd., the second-biggest maker of machines used to make semiconductors, fell 210 yen, or 3.4 percent, to 6,040.
Applied Materials said yesterday a computer-memory chip slump will reduce orders until the first half of next year. The company's shares fell 4.3 percent to $18 in extended trading.
pennystock-investor.com
Asian Stocks Fall on Concern U.S. Growth to Slow; BHP Slides
Asian stocks declined after U.S. consumer spending slowed, suggesting that expansion in the world's largest economy is cooling. Honda Motor Co., which gets more of its earnings from the U.S. than other major Japanese carmakers, led the drop among exporters.
Sharp Corp., Japan's biggest maker of liquid-crystal display televisions, and Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart Stores Inc. and other U.S. clients, fell on concern overseas demand for their products will wane.
``Lingering worries about the U.S. economy capped investor confidence,'' said Ashley Kang, who helps manage $1.7 billion at IBT Securities Co. in Taipei. ``Export-dependent stocks are suffering.''
BHP Billiton Ltd. fell after an earthquake in Chile stopped production at its three mines there. National Australia Bank Ltd. led the nation's banks lower on speculation they will have to raise more capital after St. George Bank Ltd. sold shares.
The Morgan Stanley Capital International Asia Pacific Index fell 0.5 percent to 161.58 as of 7:34 p.m. in Tokyo.
Japan's Nikkei 225 Stock Average slid 0.7 percent to 15,396.30, while the broader Topix index rose 0.1 percent. Benchmarks retreated in other markets open for trading, except Indonesia and Sri Lanka.
China's CSI 300 Index dropped 1.3 percent to 5,081.11, the biggest drop in a week, after a report that industrial production rose 17.9 percent in October reignited concerns the central bank will raise interest rates for a sixth time this year.
Shares fell in the U.S. yesterday, sending the Standard & Poor's 500 Index lower by 0.7 percent. Department stores and computer makers led the drop after Macy's Inc. cut its sales forecast.
pennystock-investor.com
Sharp Corp., Japan's biggest maker of liquid-crystal display televisions, and Li & Fung Ltd., a Hong Kong-based supplier to Wal-Mart Stores Inc. and other U.S. clients, fell on concern overseas demand for their products will wane.
``Lingering worries about the U.S. economy capped investor confidence,'' said Ashley Kang, who helps manage $1.7 billion at IBT Securities Co. in Taipei. ``Export-dependent stocks are suffering.''
BHP Billiton Ltd. fell after an earthquake in Chile stopped production at its three mines there. National Australia Bank Ltd. led the nation's banks lower on speculation they will have to raise more capital after St. George Bank Ltd. sold shares.
The Morgan Stanley Capital International Asia Pacific Index fell 0.5 percent to 161.58 as of 7:34 p.m. in Tokyo.
Japan's Nikkei 225 Stock Average slid 0.7 percent to 15,396.30, while the broader Topix index rose 0.1 percent. Benchmarks retreated in other markets open for trading, except Indonesia and Sri Lanka.
China's CSI 300 Index dropped 1.3 percent to 5,081.11, the biggest drop in a week, after a report that industrial production rose 17.9 percent in October reignited concerns the central bank will raise interest rates for a sixth time this year.
Shares fell in the U.S. yesterday, sending the Standard & Poor's 500 Index lower by 0.7 percent. Department stores and computer makers led the drop after Macy's Inc. cut its sales forecast.
pennystock-investor.com
вторник, 13 ноября 2007 г.
Asian Stocks Rise the Most in Eight Weeks; Toyota Advances
Asian stocks rose the most in eight weeks, extending a global rally. Toyota Motor Corp. and Canon Inc. led exporters higher after the yen weakened against the dollar and Wal-Mart Stores Inc.'s profit beat estimates.
Mitsubishi UFJ Financial Group Inc. and National Australia Bank Ltd. paced gains among banks after Goldman Sachs Group Inc. said it doesn't plan significant writedowns on mortgage-related securities, easing concern credit-market losses will spread and helping U.S. stocks rally the most in a month.
``The Wal-Mart result shows the U.S. consumer is still spending,'' said Paul Xiradis, who manages about $8.3 billion at Ausbil Dexia Ltd. in Sydney. ``On the U.S. investment-banking front for the moment things are looking better than expected.''
The Morgan Stanley Capital International Asia Pacific Index added 2.6 percent to 162.39 as of 3:49 p.m. in Tokyo, the most since Sept. 19. All 10 industry groups advanced. Markets open for trading around the region climbed. China's CSI 300 Index rose the most in two weeks after retail sales grew at the fastest pace in more than eight years.
Tokyo Electron Ltd., the world's second-largest maker of machines used to produce semiconductors, jumped after saying orders will climb and Deutsche Bank AG raised its rating. Posco rose after UBS AG suggested investors buy steelmaker shares, saying earnings will recover this quarter.
Japan's Nikkei 225 Stock Average increased 2.5 percent to 15,499.56, its first gain in nine days. China Mobile Ltd. jumped in Hong Kong, where the Hang Seng Index rose 4.4 percent, the most since Aug. 20 and the region's best performer, after investors said a possible tie-up to sell Apple Inc.'s iPhones may benefit the company.
penny-stock-usa.com
Mitsubishi UFJ Financial Group Inc. and National Australia Bank Ltd. paced gains among banks after Goldman Sachs Group Inc. said it doesn't plan significant writedowns on mortgage-related securities, easing concern credit-market losses will spread and helping U.S. stocks rally the most in a month.
``The Wal-Mart result shows the U.S. consumer is still spending,'' said Paul Xiradis, who manages about $8.3 billion at Ausbil Dexia Ltd. in Sydney. ``On the U.S. investment-banking front for the moment things are looking better than expected.''
The Morgan Stanley Capital International Asia Pacific Index added 2.6 percent to 162.39 as of 3:49 p.m. in Tokyo, the most since Sept. 19. All 10 industry groups advanced. Markets open for trading around the region climbed. China's CSI 300 Index rose the most in two weeks after retail sales grew at the fastest pace in more than eight years.
Tokyo Electron Ltd., the world's second-largest maker of machines used to produce semiconductors, jumped after saying orders will climb and Deutsche Bank AG raised its rating. Posco rose after UBS AG suggested investors buy steelmaker shares, saying earnings will recover this quarter.
Japan's Nikkei 225 Stock Average increased 2.5 percent to 15,499.56, its first gain in nine days. China Mobile Ltd. jumped in Hong Kong, where the Hang Seng Index rose 4.4 percent, the most since Aug. 20 and the region's best performer, after investors said a possible tie-up to sell Apple Inc.'s iPhones may benefit the company.
penny-stock-usa.com
Alstom, Avenir Telecom, Lagardere, Touax: French Equity Preview
The following is a list of companies whose shares may have unusual price changes in Paris. Stock symbols are in parentheses after company names. Share prices are from the last close.
France's benchmark CAC 40 Index rose 3.35, or 0.1 percent, to 5,538.91 in Paris. The SBF 120 Index fell 0.33 to 4,027.33.
Adenclassifieds SA (ADEN FP): The Internet classified ad company said third-quarter sales rose 34 percent to 11.1 million euros. The shares dropped 16 cents, or 0.5 percent, to 35.79 euros.
Alstom SA (ALO FP): The world's largest maker of coal-fired power plants signed a letter of intent to supply four turbines to Unistar Nuclear Energy LLC for U.S. nuclear plants. The shares fell 2.24 euros, or 1.6 percent, to 142.68 euros.
ArcelorMittal (LOR FP): The world's biggest steelmaker reports earnings before the market opens in Paris. It may report third-quarter profit of $2.4 billion, bolstered by increased cost savings and higher steel prices, according to the median estimate of seven analysts surveyed by Bloomberg News. The shares fell 1.83 euros, or 3.6 percent, to 49.11 euros.
Assystem SA (ASY FP): The French software company said third quarter sales dropped 1.3 percent to 154.1 million euros. The shares fell 38 cents, or 3.8 percent, to 9.64 euros.
Ausy (OSI FP): The consulting and technology-engineering company said third-quarter sales rose to 27.34 million euros from 19.99 million euros a year earlier. The shares added 15 cents, or 1.1 percent, to 14.20 euros.
Avenir Telecom SA (AVT FP): The mobile-phone services company's second-quarter sales rose 14 percent to 187.2 million euros. The shares fell 2 cents, or 1.1 percent, to 1.76 euros.
Cafom SA (CAFO FP): The household furnishings retailer specialized in French territories in the Caribbean and Indian Ocean said sales for the first-half of its fiscal year increased 52 percent to 106.6 million euros. The shares lost 98 cents, or 4.5 percent, to 20.61 euros.
Cegedim SA (CGM FP): The maker of sales-tracking software for drugmakers including Pfizer Inc. said third-quarter revenue rose to 191.7 million euros from 116.2 million euros a year earlier. The stock price dropped 1.19 euros, or 1.5 percent, to 79.50 euros.
penny-stock-usa.com
France's benchmark CAC 40 Index rose 3.35, or 0.1 percent, to 5,538.91 in Paris. The SBF 120 Index fell 0.33 to 4,027.33.
Adenclassifieds SA (ADEN FP): The Internet classified ad company said third-quarter sales rose 34 percent to 11.1 million euros. The shares dropped 16 cents, or 0.5 percent, to 35.79 euros.
Alstom SA (ALO FP): The world's largest maker of coal-fired power plants signed a letter of intent to supply four turbines to Unistar Nuclear Energy LLC for U.S. nuclear plants. The shares fell 2.24 euros, or 1.6 percent, to 142.68 euros.
ArcelorMittal (LOR FP): The world's biggest steelmaker reports earnings before the market opens in Paris. It may report third-quarter profit of $2.4 billion, bolstered by increased cost savings and higher steel prices, according to the median estimate of seven analysts surveyed by Bloomberg News. The shares fell 1.83 euros, or 3.6 percent, to 49.11 euros.
Assystem SA (ASY FP): The French software company said third quarter sales dropped 1.3 percent to 154.1 million euros. The shares fell 38 cents, or 3.8 percent, to 9.64 euros.
Ausy (OSI FP): The consulting and technology-engineering company said third-quarter sales rose to 27.34 million euros from 19.99 million euros a year earlier. The shares added 15 cents, or 1.1 percent, to 14.20 euros.
Avenir Telecom SA (AVT FP): The mobile-phone services company's second-quarter sales rose 14 percent to 187.2 million euros. The shares fell 2 cents, or 1.1 percent, to 1.76 euros.
Cafom SA (CAFO FP): The household furnishings retailer specialized in French territories in the Caribbean and Indian Ocean said sales for the first-half of its fiscal year increased 52 percent to 106.6 million euros. The shares lost 98 cents, or 4.5 percent, to 20.61 euros.
Cegedim SA (CGM FP): The maker of sales-tracking software for drugmakers including Pfizer Inc. said third-quarter revenue rose to 191.7 million euros from 116.2 million euros a year earlier. The stock price dropped 1.19 euros, or 1.5 percent, to 79.50 euros.
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