| Zurich Market Talk - 23-09-2011 |
| 23.09.11 07:20 | |
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Affichage: CFO to leave the company in the Spring of 2012. Affichage Holding SA's Chief Financial Officer (CFO) will leave the company in the Spring of 2012 to pursue new professional opportunities. The board of directors thank Dr U. von Bassewitz for the services rendered and work performed during his 12 years as the company's CFO. Link: Click Here u-blox, the Swiss positioning and wireless chip and module company, announces the immediate availability of the UBX-G6010-ST-TM, a precision timing single-chip based on GPS technology with extreme acquisition sensitivity. It is designed for high-volume applications requiring low-cost precision timing with accuracy down to 15 nanoseconds such as femtocell basestations delivering 4G LTE (Long-Term Evolution), CDMA and WiMAX services. Link: Click Here Economy ********* Ireland: Strong GDP growth in Q2. Irish GDP growth surprised to the upside in Q2, rising 1.6% q/q (BarCap: -0.4% q/q, consensus: +0.3% q/q) after having increased (an upwardly revised) 1.9% q/q in Q1. Growth in both quarters was generated by buoyant expansion of gross capital formation and net exports, which contributed a total of 2.6pp and and 4.5pp, respectively. Net contribution of private and public consumption was slightly positive (+0.1pp) in Q2, as a 0.2pp positive contribution of the former was only partially offset by a decline in the latter (-0.1pp). Link: Click Here Eurozone flash PMIs weaken further in September. The flash Eurozone PMIs weakened further in September, with the composite index (manufacturing plus services) falling from 50.7 to 49.2: below market expectations of 50.0, and the lowest since summer 2009. Deteriorating conditions were widespread, with the manufacturing and services PMIs in both France and Germany declining over the month. Softer activity was particularly pronounced in France. Link: Click Here Twisted thinking. The Fed, like many central banks, has moved on from conventional to unconventional policy tools to attempt to stimulate the flagging US economy. This was manifested yesterday by the introduction of “Operation Twist”. Operation twist involves the Fed selling $400 billion of US treasuries with maturities of 3 years or less to buy $400 billion of US treasuries with maturities between 6 and 30 years. Link: Click Here UK manufacturing survey sees sharp fall in September. The CBI industrial trends survey for September fell sharply, reinforcing the message that activity in the manufacturing sector is deteriorating. The headline total orders balance fell to -9 from 1 previously (BarCap: -10, consensus: -5). The CBI balance had been holding up at relatively high levels this year, in contrast to the manufacturing PMI and the official data, which have suggested a marked deterioration in the sector. Link: Click Here |
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