|
News
-
Financial News
|
A cruel autumn has morphed into a cold winter for the metals, which have been stung by worries over global growth, a resurgence in the U.S. dollar and a general risk aversion that likely will carry into 2012.Gold [ GCCV1 1546.80 -17.30 (-1.11%) ] in particular has taken a beating. The yellow metal, seen as a hedge against both market disruptions and inflationary monetary policy, is around bear market territory since peaking out above $1,900 an ounce in early September.While the long-term technical picture propelling gold in the earlier part of the year remains in place, the current outlook is for more trouble ahead."Gold overall will continue to perform well in the next, say, 10 years," said Shelley Goldberg, director of global resources and commodities strategy at Roubini Global Economics in New York. [Read the full article]
“We think News Corp. [ NWSA 17.7895 +0.3395 (+1.95%) ] has capacity/potential to return $15 billion of capital (34 percent of current market cap) to shareholders over the next three years” in the form of buybacks and dividends, wrote David Bank, media analyst for RBC Capital Markets, in a note Thursday.“The potential cancellation of ‘The Simpsons’ (in the next few years) and the subsequent syndication on cable could provide windfall profits for NWSA.”While 20th Century Fox Television re-signed the longest-running comedy on television for two more seasons in October, it is unlikely the run will go any further given the tumultuous negotiations that took place with the voice actors.And here’s why it will mean a windfall for the company within three years. The syndication agreement was signed years ago at a different time in the media landscape and only allowed Fox to sell the show to local affiliates. [Read the full article]
Analysts say the euro’s fall, to a level of 1.2858 against the dollar Thursday morning, was in part due to the lack of participants in the market but also because the list of hurdles facing the euro zone remains long. The euro later recovered from its 15-month low and was trading above 1.29 in afternoon trading.The euro fell to a decade low against the yen. As the euro recovered Thursday morning, stocks also rose, turning the S&P 500 [ .SPX 1260.55 +10.91 (+0.87%) ] slightly positive for the year. Gold [ GLD 150.52 -0.51 (-0.34%) ] also came off its low of $1,523 per ounce, a 20 percent decline from its September highs, which put it in bear market territory.“I think the euro is telling us it’s a very thin market, but people are preparing for the worst next year,” said Brown Brothers Harriman chief currency strategist Marc Chandler. [Read the full article]
|
