Manufacturing output rises across the World, on strong signs of a global recovery

November 3, 2009 Bookmark and Share

Signs of recovery after a difficult year sounded around the World Monday as reported rising output and improved employment prospects in the USA, and across Asia. From to , manufacturing sentiment has recovered quickly from the global recession last year, when World trade stopped dead and unsold inventories piled up in warehouses around the World. A year later, reported that in October, output around the World was rising at the fastest rate in 5 years. The JPMorgan global composite purchasing managers’ index (PMI) rose to 54.4, up from 53 in September, the highest value since July 2004. The biggest surprise came in the USA, where the Institute for Supply Management’s factory index rose to 55.7 from 52.6 in September. The figure, well above market expectations, sent stocks in the USA and Europe North as it was seen as evidence that the recovery was stronger than previously thought. At the close of trading in Europe, the Eurofirst 300 index of European shares was 0.39% higher at 980.28, while the FTSE 100 index rose 1.2% to 5,105. The S&P 500 was up 0.7%. Read more

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Barrick Gold to raise US$3.5B

September 9, 2009 Bookmark and Share

said after the close today that it plans to raise up to US$3.5B through a share offering that will eliminate most of its remaining hedging contracts, giving the world’s biggest producer full exposure to changes in the precious metal’s market price. The Toronto-based company announced the move hours after climbed above US$1,000oz for the first time since March 2008. Investors’ renewed interest has been ascribed to weakness in the US$ and continuing low interest rates that have dampened returns on holding cash and other liquid investments. Barrick explained its move by pointing to an “increasingly positive” outlook for . It added that it expects “global monetary and fiscal re- will be necessary for years to come, resulting in an increased risk of higher and a future negative impact on the value of global currencies”, also it cited a continuing robust balance between the metal’s supply and demand. Read more

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