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bloomberg report
Posted by :
abhaytiw
Copper Heads for Monthly Advance as China, U.S. Economies Grow Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Glenys Sim
Oct. 30 (Bloomberg) -- Copper headed for its ninth monthly gain this year as governments around the world ramped up stimulus spending to lift their economies out of the worst postwar recession.
The metal used in construction and automobiles is heading for its best year in more than two decades as government incentives spurred manufacturing and raw materials purchases. The availability of credit due to record lending growth in China, as well as a weaker dollar, helped push copper imports to record levels.
“There was a long list of economic releases that fell into the positive category, providing a fillip to commodity markets,” David Moore, commodity strategist at Commonwealth Bank of Australia, said in an e-mail today. “Base metals prices drew strength from the positive economic data flow and also benefited from a renewed softening of the U.S. dollar.”
Copper for delivery in three months on the London Metal Exchange slipped 0.5 percent to ,631.25 a metric ton at 9:37 a.m. Singapore time, up 7.7 percent this month, the ninth monthly gain this year. The metal has rallied 116 percent this year, the most since at least 1987, according to Bloomberg data.
January-delivery copper on the Shanghai Futures Exchange jumped as much as 3 percent to 51,540 yuan (,548) a ton, before trading at 51,310 yuan. The metal has risen in nine of the past 10 months, more than doubling, and is heading for its best year since at least 2000.
The U.S. economy returned to growth in the third quarter after a yearlong contraction, expanding at a 3.5 percent pace from July through September, the U.S. Commerce Department said yesterday, marking the end of the deepest recession in seven decades.
China’s economy expanded at the fastest pace in a year, by 8.9 percent in the third quarter from a year earlier, the National Bureau of Statistics in Beijing said Oct. 22. China and the U.S. are the world’s two largest copper users.
Among other LME-traded metals, aluminum was unchanged at ,952 a ton and nickel was little changed at ,700 a ton. Zinc dropped 1 percent to ,248 a ton, lead fell 0.6 percent to ,350 a ton, while tin hadn’t traded as of 9:42 a.m. in Singapore.
To contact the reporter for this story: Glenys Sim in Singapore at
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STERLITE FUTURE
Posted by : dhakak
CAN BE BOUGHT TODAY
DHAKAK...
should I keep holding?
Posted by :
anantbhatia
Hi,
Should I keep holding my stocks or should I sell? What about the bonus issue rumour? Please advise....
NSE Announcements on Sterlite Ind
Posted by : MMB MessengerSterlite Industries ( India ) Limited has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2009 as follows: Net Sales of Rs. 598087 lacs for half year ending on 30-SEP-2009 against Rs. 670308 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 32221 lacs for the half year ending on 30-SEP-2009 against Rs. 82086 lacs for the half year ending on 30-SEP-2008....
NSE Announcements on Sterlite Ind
Posted by : MMB MessengerSterlite Industries ( India ) Limited has informed the Exchange regarding the consolidated Results for the half year ended on 30-SEP-2009 as follows: Net Sales of Rs. 1062257 lacs for half year ending on 30-SEP-2009 against Rs. 1236386 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 163151 lacs for the half year ending on 30-SEP-2009 against Rs. 242802 lacs for the half year ending on 30-SEP-2008....
NSE Announcements on Sterlite Ind
Posted by : MMB MessengerSterlite Industries ( India ) Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 30-SEP-2009 as follows: Net Sales of Rs. 608546 lacs for quarter ending on 30-SEP-2009 against Rs. 659377 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 95885 lacs for the quarter ending on 30-SEP-2009 against Rs. 127694 lacs for the quarter ending on 30-SEP-2008....
NSE Announcements on Sterlite Ind
Posted by : MMB MessengerSterlite Industries ( India ) Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2009 as follows: Net Sales of Rs. 361641 lacs for quarter ending on 30-SEP-2009 against Rs. 373865 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 20951 lacs for the quarter ending on 30-SEP-2009 against Rs. 46293 lacs for the quarter ending on 30-SEP-2008....
STERLITE Q2 Numbers Out
Posted by : pms.swastika
STERLITE Q2 Numbers Out:
Net Profit at Rs. 959.00 Cr Vs Rs. 1277.00 Cr (-24.90%) (YoY)
Net Sales at Rs. 6085.00 Cr Vs Rs. 6594.00 Cr (-7.72%) (YoY)
Regards
Swastika PMS...
BSE Announcements on Sterlite Ind
Posted by : MMB Messenger
Sterlite Industries India Ltd has announced the following Unaudited results for the quarter ended September 30, 2009:
The Company has posted a net profit of Rs 2095.10 million for the quarter ended September 30, 2009 as compared to Rs 4629.30 million for the quarter ended September 30, 2008. Total Income has decreased from Rs 39404.00 million for the quarter ended September 30, 2008 to Rs 38387.40 million for the quarter ended September 30, 2009.
The Consolidated Results are as follows
The Group has posted a net profit after tax attributable of Rs 9588.50 million for the quarter ended September 30, 2009 as compared to Rs 12769.40 million for the quarter ended September 30, 2008. Total Income has decreased from Rs 72058.20 million for the quarter ended September 30, 2008 to Rs 65178.00 million for the quarter ended September 30, 2009. ...
buy 720
Posted by : NAUGHTY007major resistance at 720-buy on dips below 745 levels and more at 720 on bad news or nifty crashing by another 100+---good buy at those levels as no one can predict bottom-hence buy on dips and average... ...
28th Oct Day trading call/ jssnice@yahoo.co.in
Posted by : Guestshall i buy sterlite now...
shall i buy sterlite ind now please tell me...
Posted by : iguest
Date :28th Oct, 2009 - 10:29
bought at 744 for delivery - portfolio...
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althought i bought the above for delivery; since it has given more than 4% in one hour; i have sold the same at 765 and booked profit; will watch and buy at lower level...
