The stock markets in Asia and the Pacific region remained positive momentum from the previous two sessions and rose for a third day, leaving the regional MSCI Asia Pacific Index to its highest level last month. Increases in the U.S. indexes and good financial results for the quarter a number of companies in the region supported the optimistic stock investors today. Among the most profitable for banks, they had relaxed rules governing the capital adequacy of banks, which were announced by the Basel Committee. He was instructed by the leaders of the G-20 to establish new rules to regulate the financial sector because of the severe consequences of the financial crisis. MSCI Asia Pacific, which covers the stock markets in ten Asian countries, Australia and New Zealand increased by 0.4 percent to 118.49 points. After winning the last three sessions, it is a 8.2% below its highest point this year, which said on April 15. Exchange in Australia S & P / ASX 200 rose 0.3 percent to 4 497.40 points after the index of leading indicators showed that the Australian economy will continue to grow in the second half of this year. He rose for the third consecutive month in May, increasing by 0.3 percent compared to April.
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The World financial leaders will negotiate this week on how to give more voting rights in the World Bank to developing economies such as China. The talks are a prelude to a crucial battle for the International Monetary Fund, writes Reuters. World Bank President Robert Zoellick said in an interview with the agency that has plans for a capital increase of the international financial institution with 3.5 billion dollars, which will be the first of more than 20 years. The funds will come from rich countries and developing countries like China. This will help the World Bank to restore its capacity after large loans granted during the standoff. Discuss and question the change of the voting rights in the bank, which will generate additional $ 1 billion in fresh capital, which is quite a complex political issue because it means some countries, particularly in Europe, partly to give up rights their vote. Britain, one of the biggest sponsors in the bank, probably will not take a position before leaving the results of parliamentary elections on 6 May. Scandinavian countries, which are usually generous in terms of aid to developing countries are now reluctant to give up their voting rights. At its meeting in Pittsburgh last year by leaders of the G-20 agreed to transfer 3% of total voting rights at the World Bank and at least 5 percent in the International Monetary Fund.
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Friday’s trading session began with the U.S. increased for all three major indexes, after investor confidence that the economy will continue to recover, took precedence over concerns about Debt Crisis in Greece. On Monday begins a new season in the U.S. corporate financial results with the aluminum producer Alcoa for the first quarter of this year. The only economic data out today showed that stocks of finished goods to wholesalers in the U.S. rose more than expected in February to 0.6 percent on a monthly basis. Their increase in January amounted to 0.1 per cent. The increase in stocks of finished goods is a sign to reduce business costs in the future because chains wholesale are more likely to buy new goods when their stocks are exhausted. Index Dow Jones Industrial Average, which unites 30 largest stock companies and liquidity in the U.S. increased by 0.3% to 10 958.13 points an hour after the start of the session. Since the beginning of the week he was on the verge of psychological level of 11 thousand points, but unable to move. The broader S & P 500 added 0.2 percent to 1 189.06 points, supported mainly by energy companies and consumer sectors. Meanwhile, the main stock index, Nasdaq – Nasdaq Composite, also rose 0.2% to 2 439.71 points. Yesterday’s volatile session brought mild increases in the indexes after the best sales figures of some of the largest chains of retail in the U.S. in March. They managed to offset the news of the increase in new applications for unemployment benefits last week.
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The biggest French car company PSA Peugeot Citroen announced that a loss of 1.16 billion euros after tax last year. Leadership expected to come out of operating profit in the first half of 2010, although the company will face serious challenges over the next few years forward Financial Times. The largest of them will be shrinking car market in Europe, according to the French group for the production of cars will fall by around 9% this year. To overcome this, Peugeot Citroen plans to market a new model by which to increase its market share. The net loss for the French company has tripled in comparison to the negative financial result of 363 million euros for 2008, its sales decreased by 7.2% yoy in 2009, which forced the company to seek more than 3 billion . EUR rescue assistance from the French state last year. The negative financial result of the first half of last year was positive in the second half thanks to government programs worldwide, including France, to stimulate purchases of new cars. Peugeot Citroen has a positive net cash flow In 809 million euros for 2009. Leadership trusts that the successful implementation of the plan for sales management, cost reduction and better utilization of capacity will support the company’s financial performance this year, along with the launch of new models on the market. Our presentation of the financial unit Banque PSA Finance also contribute to profit in the first half.
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