ECONOMY & MARKETS

A South African child holds a 50 rand note in a file photo.

S.Africa's rand at 6-week low ahead of rate call

South Africa's rand fell more than 1.2 percent to a six week low against the dollar on Wednesday and government bonds touched a six month low ahead of a central bank's policy decision next day, expected to see rates unchanged.

Gold gains for third day; platinum at 30-month high

Gold rallied for a third consecutive session on Wednesday, boosted by broad weakness in the dollar and robust Asian consumer demand, while anticipation of more resilient global growth took platinum to 30-month highs.

QE2 not working miracles, but Fed unlikely to roll it back

The Federal Open Market Committee (FOMC) of the Federal Reserve, which meets next week, is unlikely to curtail its plan to buy $600 billion of Treasury securities by June despite the stronger tone of the incoming economic data, research firm Capital Economics said in a note on Wednesday.
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Pre-Market Earnings on Jan. 19

The companies that reported earnings before the markets open on Wednesday are: Goldman Sachs, Wells Fargo, U.S. Bancorp, State Street, Northern Trust, Bank of New York Mellon and Hudson City Bancorp.

US mortgage applications rose last week

Mortgage applications in the U.S. rose during the week ended January 14 as interest rates dipped to lowest levels in a month, the Mortgage Bankers Association (MBA) said on Wednesday.

Germany raises 2011 growth outlook

Germany raised its official growth forecast for 2011 from 1.8 percent projected in October last year to 2.3 percent, signaling Europe's largest economy is poised to drive global recovery this year.

World stocks near 2-1/2-year high

World stocks reached their highest levels in nearly 2-1/2 years on Wednesday with the MSCI world equity index reaching 1324, the highest since August 2008.

US futures mixed ahead of earnings, housing data

Futures on major U.S. indices point to a flat opening on Wednesday ahead of quarterly earnings from top investment bank Goldman Sachs and key housing data due to be released before market opens.

POLL - Asia to see soaring prices in 2011

Asia's rapid economic growth will moderate slightly in 2011 even as policymakers combat rising prices with higher interest rates and try to keep local currencies from appreciating too sharply, a Reuters quarterly poll showed.
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BSE Sensex edges higher as metals climb

The BSE Sensex nudged up 0.2 percent on Wednesday powered by metal producers on firm world metal prices, but trading was choppy reflecting investor concern about inflation and a looming rate rise.

HK stocks seen up, China data keeps investors wary

Hong Kong stocks are set to rise on Wednesday following a higher close on Wall Street which was supported by commodity-related counters and strong earnings from technology bellwethers Apple (AAPL.O) and IBM (IBM.N).

Ghana bourse sees four new listings in 2011

Ghana's stock exchange expects at least four new listings this year, including a local float by oil group Tullow Plc, and predicts that inflows of new pension funds will boost trading volumes.
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Ghana still working on Eurobond numbers: finmin

Ghana is still making preparations to launch a second Eurobond originally due in 2010, Finance Minister Kwabena Duffuor said on Tuesday, stressing that market conditions were not behind the delay.
Sugar cane

Uganda's 2010 sugar output below forecast: group

Uganda's 2010 sugar production rose slightly on a year earlier but fell short of forecasts, hit by technical problems at the leading producer and poor rains, an industry association said on Tuesday.
Apple CEO Jobs at a media event

Buy Apple Before Stock Bounces Back

As Apple shares are plunging due to Steve Jobs' renewed health concerns, some Street analysts think it is a good buying opportunity to accumulate shares.

Gilts slide after surge in UK inflation

Gilts and short sterling futures slid on Tuesday after data showed UK consumer price inflation rose faster than forecast in December, fuelling concerns the Bank of England may be forced to raise interest rates sooner than expected.
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Top Pre-Market Earnings on Jan. 18

The companies that reported earnings before the markets opened on Tuesday are: Citigroup, Forest Laboratories, Comerica, Delta Air Lines and TD Ameritrade.

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