Overnight Markets- Leading News Update 2

 

Euro -Services PMI Dropt from 50.4to 48.8 in Feb-Revised figure

Euro-area services output shrank more than estimated in February, led by Italy and Spain, as the region’s economy struggled to rebound from a contraction in the fourth quarter.

An index based on a survey of purchasing managers in the services industry dropped to 48.8 from 50.4 in January, London- based Markit Economics said on its website today. That’s below an initial figure of 49.4 published on Feb. 22. A reading below 50 indicates contraction.

Herr Wiedmann, Bundesbank-No Mas LTRO

http://www.reuters.com/article/2012/03/05/us-ecb-idUSTRE82401D20120305

 Germany Update- Adolph Smirkels Star on the Rise

http://www.bloomberg.com/news/2012-03-05/merkel-sees-euros-minted-from-marks-in-political-trial-of-german-integrity.html

 Glencore Sees BRIC Demand a good short term.

LONDON (MarketWatch) — Commodities titan Glencore International PLC said Monday it expects to see healthy growth within the emerging markets in the short-term, after disclosing higher 2011 earnings despite cotton trading losses that weighed on its marketing activities.

The Baar, Switzerland-based group reaffirmed that all its mining projects were developing on time and within budget as it continues to prepare for its planned merger with 34%-held diversified mining affiliate Xstrata PLC . It also said it sees no change to the bullish long-term commodities outlook.

“Thus far in 2012, market conditions have improved and the year has started well across all segments of our business,” said chief executive Ivan Glasenberg. “Emerging market urbanization will continue to increase commodity intensity per capita as the demand for goods and products that industrialised societies take for granted increases,” he added.

Glencore said net profit attributable to shareholders more than trebled to $4.05 billion in 2011 from $1.29 billion in 2010. Revenues increased 28% to $186.2 billion while earnings before interest and taxes, or EBIT, adjusted for exceptional items rose 2% to $5.4 billion.

Adjusted EBIT from industrial activities, including mining, refining and smelting, rose 18% to $3.5 billion due to generally stronger commodity prices and increased production from its coal, copper and gold mines as well as the start up of the Aseng oil field in Western Africa, ahead of schedule and budget.

But unusually volatile cotton prices last year played havoc with earnings in Glencore’s marketing division, where adjusted EBIT fell 18% to $1.9 billion. Glencore said the volatility made hedging ineffective as well as difficult for cotton customers and suppliers to honor contracts.

Excluding the impact of cotton, adjusted EBIT would have been up 10% on the year in 2011, Glencore said.

Glencore’s shares have fallen 21% since its initial public offering price of 530 pence a share in May last year as concerns about the global economy dented the valuation of mining equities in general.

Glencore listed its shares in May on London and Hong Kong to much fanfare in what was considered a stepping stone to a tie-up with globally diversified miner Xstrata, a miner with which it has historically close commercial ties.

The two companies have proposed a merger of equals that would create a commodities juggernaut with a market capitalization of more than $80 billion and mining and trading assets in oil, grains, base metals, precious metals, shipping, and bulk commodities such as coal.

Glencore and Xstrata have agreed to a deal in which Glencore would give Xstrata shareholders 2.8 Glencore shares for every Xstrata share. Shareholders representing close to 5% of Xstrata’s share capital however believe that the current ratio isn’t sufficient. Equity analysts expect Glencore to raise its offer to 3.0, based on a Dow Jones poll of seven analysts.

http://www.marketwatch.com/story/glencore-sees-healthy-em-growth-outlook-bullish-2012-03-05?siteid=rss&mod=BOL_hpp_BOL2MW

Fukushima -Reactor 2 Levels of up to 22o mV/hr detected. 

That is 22 rads/hr.

Quince 2, a robot searching the top floor of the crippled No. 2 reactor building of the Fukushima No. 1 nuclear power plant, detected radiation levels as high as 220 millisieverts per hour, Tokyo Electric Power Co. said.

The robot, developed by the Chiba Institute of Technology, measured radiation levels throughout the building and took images of the facility in February.

TEPCO, which released data and photographs on Feb. 28, said the information would be used in preparing for the removal of spent fuel rods from the fuel pool at the reactor.

The images appear to show puddles on the floor of the reactor, but TEPCO said it believed they were caused by condensation rather than by the accident.

The robot’s predecessor, Quince, was deployed in June last year, but was abandoned in October after it was immobilized on the building’s third floor and communication was lost.

 http://enenews.com/asahi-220-millisvhr-top-level-unit-2-puddles-floor-reactor-believed-be-accident-photo

Although similar reminders of Germany's Nazi past have occasionally appeared in...

 

Rabbis Determine War with Iran Not allowed currently

But it does not mean they can’t force their slave state of gentiles at the Pentagram to fight it for them!  No news cycle is complete without checking in with the Rabbinate! Remember their ethos the Talmud allows them to dissimulate when talking to the gentiles in the public  press. The Rabbinate is slick, unlike the Mullahs and Anglomason TV Preachers!

http://www.haaretz.com/jewish-world/would-god-want-israel-to-attack-iran-1.416343

Anglo-Zionist City of London Cuts Germans out of Libyan Business Deals for failing to Participate in Blood letting

http://www.spiegel.de/international/world/0,1518,818336,00.html

India-Lawmakers Run Government from Jail Cell

http://www.bloomberg.com/news/2012-03-04/jailed-lawmakers-rule-in-india-as-crime-brings-re-election-not-punishment.html

Chinese Lending Rises a Minuscule 3.2 billion in First 2 months at big 4 banks

http://www.bloomberg.com/news/2012-03-04/china-s-biggest-banks-boost-loans-in-first-two-months-icbc-president-says.html

Greece Debt-Swap Deadline This Week to Show If Europe Moving Past Crisis

http://www.bloomberg.com/news/2012-03-04/greece-debt-swap-deadline-this-week-to-show-if-europe-moving-past-crisis.html

Russian Equity Markets Like Putin Win

http://www.bloomberg.com/news/2012-03-04/putin-win-to-unleash-stocks-as-investors-foresee-reform-russia-overnight.html

Ireland faces Long Road back to Market Credit

http://www.washingtonpost.com/business/economy/ireland-faces-long-road-back-to-borrowing/2012/03/02/gIQASxHTnR_story.html

China Feb,  Services PMI falls from 52 to 48

http://www.bloomberg.com/news/2012-03-03/china-s-february-non-manufacturing-index-falls-in-sign-economy-weakening.html

Greece May need more Help says Austrian Chancellor

http://www.reuters.com/article/2012/03/04/us-greece-austria-bailout-idUSTRE8230DV20120304

English Crown Firm British Polluters Reaches 7.8 Billion dollar wrist slap settlement with grimy lawyer and grimy courts.

Anglo are only 8 pc of the USA yet like their cousins whenever there is a big pile loot, there they be. Notice THE  two WASP lawyers representing the Plaintiffs.

http://www.bloomberg.com/news/2012-03-03/bp-reaches-settlement-agreement-with-victims-of-2010-gulf-of-mexico-spill.html

China Cuts Growth Estimate to 7.5 PC

March 5 (Bloomberg) — China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption. Officials will also aim for inflation of about 4 percent this year, unchanged from the 2011 goal, according to a state-of-the-nation speech that Premier Wen Jiabao delivered today. Margaret Conley reports on Bloomberg Television’s “First Look” with Caroline Hyde. (Source: Bloomberg)

http://www.bloomberg.com/video/87662156/

Putin Wins Six More Years. Exit Polls Show 60 pc of vote

http://www.bloomberg.com/news/2012-03-04/putin-wins-amid-election-fraud-allegations.html

English Going Beserk Claiming Greeks Will Default this week

This is about 1/10 articles from the English press saying the same thing. No one else is carry ing this story.Chasing down every English lie and rumor is like ploughing the sea.

http://www.telegraph.co.uk/finance/financialcrisis/9121151/Greek-default-looms-as-voluntary-debt-deal-looks-set-to-fail.html

Obama Say’s He Has Israel’s Back At Zionist AIPAC Vampire’s Ball

http://www.bloomberg.com/news/2012-03-04/obama-says-u-s-won-t-hesitate-to-use-force-against-iranian-nuclear-weapon.html

Putin Secures 63.82% After 99% of Ballots Counted-Putin Win In Landslide

MOSCOW, March 5 (RIA Novosti) – Russian Prime Minister Vladimir Putin secured 63.82 percent, or 44.9 million votes, as 99 percent of all ballots have been counted in Sunday’s presidential elections, the Russian Central Election Commission (CEC) said on Monday.

The Communist leader, Gennady Zyuganov received 17.18 percent of the vote, which is equivalent to over 12 million ballots, while the independent candidate, Russian billionaire Mikhail Prokhorov came in third with 7.77 percent (5.4 million votes).

Vladimir Zhirinovsky, the charismatic leader of the nationalist LDPR party, came fourth with 6.23 percent, or 4.3 million votes. The A Just Russia party candidate and former Federation Council speaker Sergei Mironov tails the list with 3.84 percent (2.7 million votes) for his support.

City of London Controlled Moscow Times Delights in Ability to Spy on Russian People Voting

http://www.themoscowtimes.com/arts_n_ideas/article/election-webcams-reveal-a-slice-of-russian-life/454096.html

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3 Responses to Overnight Markets- Leading News Update 2

  1. zephyrglobalreport.com says:

    harper is clearly a minority goverment. Exit polls suggest putin got a solid 60 pc majority. I suspect it is higher as the only alternative was the zionist oilygarch or the zionist communist gang. haper is like bush a lame duck who won in stolen election. some canadian showed and tried to claim canada’s elections are not rigged and fixed.

  2. vino says:

    sorry for the canadian reference but putins lack of support from the majority of voters is the number one propaganda line on canadian national news.. I could have googled regains share of the publics vote.. i sort of recollect that 25% of the american public voted for him as well..

    http://rabble.ca/news/2011/04/conservatives-play-phony-percentages-first-past-post

    For a start, Mr. Harper repeatedly asserts that he “won” the last two elections, that he has a “mandate” from Canadians to govern, and that whoever gets “the most seats” in this election has the exclusive right to form a government. On the question of “winning” the last two elections by getting “the most seats”, consider the fact, for example, that in the 2006 election the Conservatives appealed to only 36.3 per cent of the 64.7 per cent of voters who cast a ballot.
    In 2008 the Conservatives got only 37.6 per cent of the votes cast by only 59 per cent of those eligible who actually voted. So the Conservatives attracted just over one-third of the votes of the under two-thirds of the electorate who voted. In hard numbers, they got 5,204,468 votes nationally, whereas 8,624,988 Canadians voted for other parties. This means that 62 per cent — close to two-thirds — of those who voted actually cast their ballots against Mr. Harper’s Conservatives. And if we count the rest of the eligible electorate, the 41 per cent who did not vote for the Conservatives either (or for anybody else), Mr. Harper’s claim to have “won” the election and thus have “a mandate from the Canadian people” is a bit of a stretch. He is entitled to claim a rather slender minority of support in fact. It is hardly a “mandate from the people” when 78 per cent of the approximately 23 million voters did not vote for your party.

  3. vino says:

    .analysts estimating that a return to the pre-conflict level of 1.6million barrels extracted per day is unlikely to happen for a few years
    quite the indictment of libya…. libyan oil supply is not coming back on line as fast as the western media is suggesting….
    How the West wrecked Libya
    Far from being a model for future interventions, Libya shows that meddling strangles the democratic impulse.

    http://www.spiked-online.com/index.php/site/article/12173/

    ‘People in Libya today have an even greater chance after this news of building themselves a strong and democratic future. I am proud of the role that Britain has played in helping them to bring that about.’

    So declared UK prime minister David Cameron last year following the announcement that former tyrant Muammar Gaddafi had met his end at the hands of Libyan rebels just outside Gaddafi’s hometown of Sirte. Cameron’s response typified the self-congratulatory backslapping of Western leaders. Western intervention, in their eyes, had saved the Libyan people in their hour of need and dislodged the great ogre Gaddafi and his rotten regime. Now the Libyan people could begin to build a ‘strong, democratic future’.

    Blinkered by a Manichean mindset, which characterised their kneejerk meddling in Libya’s affairs from the start, Western politicians and their media cheerleaders genuinely seemed to believe that saving Libya would be that simple. To help the liberated Libyans on their way, the ‘international community’ thoughtfully cherry-picked a National Transitional Council (NTC) – headed by former Gaddafi cronies and an eclectic mix of other individuals – who spent much of their time during the rebellion last year reassuring the West that they would be suitable caretakers of a post-Gaddafi Libya. Many then flew into Libya to take the reins once Gaddafi fled Tripoli. What could go wrong?

    It can surely bring no pleasure to anyone, except perhaps to the ghost of ‘Mad Dog’ Gaddafi, to report that post-Gaddafi Libya is currently a fragmented mess. And the outlook is bleak. One of the principal reasons for this – as reflected by ongoing protests in the country – is the impotence of the NTC, which has failed to gain the mandate of the Libyan people. Indeed, this unelected body often seems more concerned with the upcoming showtrial of Gaddafi’s son Saif, being conducted in Libya under the strict guidance of the International Criminal Court (ICC), rather than with bringing about democracy in Libya.

    Over the past couple of months, there have been ongoing protests in Benghazi, the second largest city in Libya, which indicate there is little public satisfaction with the transitional government. Protesters are complaining about issues ranging from a lack of transparency regarding who is on the Council and its operations, to support for the thousands of rebels who participated in the uprising. After over a month of nightly protests, in January several thousand protesters stormed a government building where the NTC was meeting, some throwing grenades and Molotov cocktails. This led to the resignation of the NTC’s deputy head, Abdel Hafiz Ghoga, who – according to the BBC – was singled out by protesters as being ‘an opportunist, who switched allegiances from the regime of Colonel Gaddafi as the uprising gained strength’.

    Criticising the protesters’ actions, NTC chairman Mustafa Abdel Jalil claimed, ‘there is something behind these protests that is not for the good of the country’. The main argument he could come up with to try to placate protesters, however, was that if they didn’t support the NTC, they might ‘take the country to a bottomless pit’.

    With no centralised army backing the NTC, much of the military power lies instead in disparate groups of militias – formed during the struggle to oust Gaddafi – which have become laws unto themselves. As Tessa Mayes reported on spiked plus last month: ‘Following the overthrow of Gaddafi, everyone seems to have guns. Even the Libyans who told me they never expected to use a gun now have one. You can hear celebratory gunfire in Tripoli most afternoons. And how and why did they get the guns? One man told me, “boats full of guns arrived last year and we took them to our neighbourhoods to protect ourselves”.’

    Protests have been taking place in Tripoli to restrict the carrying of firearms by militias, but these rebels without a cause have so far been unwilling to hand over their weapons, demanding that first they are properly rewarded by the interim government for their service in the uprising. Abdul Naker, commander of one of the largest militias in Tripoli with 20,000 men, told Reuters that the rebels would not ‘join the government initiative until they clearly know what are the benefits they will receive… The people need higher salaries, economic stability, medical insurance, houses and cars, young single men want to get married. We want Islamic, interest-free loans so that we can live in prosperity. Why doesn’t the government give us loans of 100,000 Libyan dinars ($60,000) to realise our dreams?’

    Militia from Libya’s third-largest city Misrata currently control Sirte, Gaddafi’s hometown, in a way that some describe as being like an occupation. Much of the city – once one of the most developed in the whole region – has been reduced to rubble and there seems little desire to invest in rebuilding it. Even the rebuilding of Libya’s oil-extraction infrastructure, crucial for the regeneration of the country’s economy, is proving to be a slow process, with analysts estimating that a return to the pre-conflict level of 1.6million barrels extracted per day is unlikely to happen for a few years.

    On top of this, tens of thousands of people with connections to the former Gaddafi regime are incarcerated and reports abound about prisoners sporadically suffering brutal treatment. There are also reports of forced displacement. For example, Tawergha, a town close to Misrata, has become a ‘ghost town’, with an estimated 30,000 residents being forced to leave their homes, ‘in what looked like an act of revenge and collective punishment carried out by anti-Gaddafi fighters’.

    Amid the chaos, however, the people of Libya have far from given up. For example, frustrated with the NTC’s hesitancy to call elections, the citizens of Misrata have taken it upon themselves to hold independent elections for the city council, ousting the self-appointed councillors that came to power during the uprisings last year. This election, according to Associated Press, was ‘the first experiment in real democracy anywhere in Libya’ since Gaddafi came into power. While this is undoubtedly a positive step, it may also represent an increasing dissolution of Libya into disparate city states that have nothing to unify them.

    No-one is more culpable in this state of affairs than the Western powers who – without any coherent strategy – decided to interfere in the affairs of this sovereign country. In doing so, they ripped the democratic initiative out of the hands of the rebelling Libyan people themselves – thus bringing an abrupt halt to the struggle for leadership, the battle of ideas, the necessary resolution of internal conflicts and differences that could have led to the Libyan people attaining a more unified vision of what a post-Gaddafi Libya could look like. Having been handed ‘liberation’ from the old regime by well-meaning Westerners, this necessary – albeit difficult – struggle to develop a collective sense of purpose failed to take place. The upshot is that Libya is run by an unelected clique with seemingly scant legitimacy in the eyes of the people; all the NTC has to offer as a rallying call is ‘support us or a bottomless pit awaits’.

    Despite all this, some are still heralding the West’s intervention in Libya as a success – and considering it as a potential model for use in Syria. A Syrian National Council (SNC) has been formed, headed by an ex-patriot Syrian working as a sociology professor at the Sorbonne, Paris. An increasing number of countries and international bodies – including the EU – have now recognised the SNC as the ‘official opposition’ to Syrian dictator Bashar al-Assad. And, despite Russia and China’s veto of a UN Security Council motion condemning Assad, intervention has already begun in the form of crippling sanctions – with no-fly zones, secure training areas and the supply of weapons to the Free Syrian Army being mooted by many countries. Further intervention seems to be imminent. As French president Nicolas Sarkozy declared last week, following the deaths of a French photographer and a British journalist in the besieged Syrian city of Homs: ‘That’s enough now, the regime must go.’

    The question of whether the Libyan ‘model’ for intervention is one that could be repeated in Syria, or if another option is preferable, is currently being hotly debated by Western elites. Instead they should take a cold, hard look at the vacuum created in post-Gaddafi Libya and realise the best option is to let the Syrian people determine their own futures.

    Patrick Hayes is a reporter for spiked. Visit his personal website here. Follow him on Twitter @p_hayes. He will be debating ‘To intervene, or not to intervene?’ at the Liberty League Freedom Forum, taking place between March 30 – April 1 2012.

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