Asia stocks rise as Alcoa sees stronger demand

BANGKOK (AP) — Asian stock markets rose Wednesday after the fourth-quarter earnings season got off to a positive start in the U.S. with aluminum giant Alcoa forecasting higher demand for 2013.Demand for aluminum has been hurt by the weak global economy, but Alcoa predicted a 7 percent increase in demand this year, slightly better than the 6 percent increase in 2012. Because Alcoa makes aluminum for...

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Brent slips, below $112 as investors eye China data, cbank meetings

SINGAPORE (Reuters) - Brent futures slipped below $112 per barrel on Wednesday as investors awaited Chinese trade data, U.S. corporate earnings and the outcome of a European Central Bank policy meeting to glean insights into the health of the world's biggest economies.China, the world's biggest energy consumer, will release its December trade figures on Thursday and fourth-quarter economic growth...

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Global shares buoyed by Alcoa earnings, dollar gains on yen

LONDON (Reuters) - World shares staged a modest recovery from two days of losses on Wednesday after aluminum giant Alcoa opened the U.S. earnings season with an optimistic outlook for world demand.However, with European and British central banks due to hold policy meetings on Thursday, the same day Spain will test demand for its debt and China releases its latest trade data, investors were in a cautious...

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Burundi coffee earnings fall 63 pct in December

BUJUMBURA (Reuters) - Burundi's earnings from coffee exports fell 63 percent in December from the previous month due to lower volumes sold, the country's industry regulator said on Monday."Low quantities of coffee were exported in December as most buyers in western countries were off for the holidays," said regulator ARFIC in its monthly report.Earnings dropped to $2.1 million from $5.7 million in...

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Analysis: Fiscal crisis seen hurting tech earnings

Warning to investors: major U.S. technology companies could miss estimates for fourth-quarter earnings as "fiscal cliff" worries likely led some corporate clients to tighten their belts last month and refrain from spending all of their 2012 IT budgets.Tech companies usually enjoy a spike in orders in December as corporations use money left over in their budgets to buy goods on their wish lists -...

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TSX drops as miners weaken, focus on U.S. earnings

TORONTO (Reuters) - Canada's main stock index retreated on Monday as mining stocks were pressured by softer gold prices and investors braced for the upcoming U.S. fourth-quarter earnings season.The Toronto Stock Exchange's S&P/TSX composite index's <.gsptse> fall tracked declines on U.S. stock markets as cautious investors cashed in recent gains ahead of the earnings season. The U.S. results...

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Piano maker Steinway takes down "for sale" sign

NEW YORK (Reuters) - Steinway Musical Instruments Inc, the famous manufacturer of pianos, saxophones and trumpets, said on Wednesday it had decided not to sell itself following a 17-month-long exploration of strategic alternatives.An American icon synonymous with handmade grand pianos, Steinway has struggled to keep its production margins competitive amid stagnant sales, and has seen its shares plunge...

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RIM shares jump in Toronto, rebound from sharp decline

TORONTO (Reuters) - Shares of Research In Motion Ltd jumped nearly 10 percent on the Toronto Stock Exchange on Thursday, following similar gains in New York on Wednesday, in a rebound from last week's sharp decline.Last Friday, the volatile stock plunged more than 20 percent after the company said on an earnings conference call that it was rolling out a new fee structure for its services segment,...

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A surprisingly good vintage as market logs gains

NEW YORK (AP) — If you'd told investors what was going to happen in 2012 — U.S. economic growth at stall speed, an intensifying European debt crisis, a slowdown in China, fiscal deadlock in Washington, decelerating corporate earnings growth — and asked how the stock market would perform, few would have predicted a good year.But that's just what they got.The Dow Jones industrial average, the Standard...

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Fed minutes short-circuit Wall Street rally

NEW YORK (Reuters) - Stocks dipped on Thursday after signs the Federal Reserve has growing concern about its highly stimulative monetary policy, giving investors reason to pull back after a two-day rally.The minutes from the Fed's December policy meeting, released on Thursday, showed increasing reticence about adding to the central bank's $2.9 trillion balance sheet, which it expanded sharply in response...

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Hong Kong shares may trim strong 2013 start after Fed voices concern

HONG KONG, Jan 4 (Reuters) - Hong Kong shares could end atwo-day rally on Friday, tracking Wall Street weakness aftersigns that the U.S. Federal Reserve has growing concerns aboutits stimulative monetary policy.Any losses could be limited if mainland China markets reopenstrongly on Friday, trading for the first day in 2013 after athree-day New Year holiday.On Thursday, the Hang Seng Index ended up...

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Asia stocks eke out gains on China hopes, oil eases

HONG KONG (Reuters) - Most Asian stock markets edged higher on Thursday on hopes of a steady economic revival in China, although oil gave back part of the previous session's strong gains as investors took some money off the table and braced for more U.S. budget battles.The MSCI Asia Pacific ex-Japan index of stocks rose 0.2 percent following Wednesday's 2 percent jump on relief that U.S. politicians...

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South African rand weakens in muted trade

JOHANNESBURG (Reuters) - South Africa's rand softened against the dollar on Thursday in thin post-holiday trade, underperforming many emerging market currencies.The rand was at 8.5168 to the dollar at 0651 GMT, 0.3 percent weaker than Wednesday's New York close, making it one of the worst performers in a basket of 20 emerging market currencies monitored by Reuters.It had reached a 3-month high of...

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Brent falls towards $112; China data offsets US concerns

 Brent crude pared earlier losses to stay above $112 a barrel on Thursday as positive data reinforced hopes of an economic recovery in China, but the prospect of more budget battles in the United States and rising oil supply weighed on prices.President Barack Obama and congressional Republicans face even bigger budget wrangling in the next two months after a hard-fought deal halted a round of...

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Will retailers rebound after weak holiday season?

As signs emerge that holiday sales this year grew at the weakest pace since 2008, investors are dumping retail stocks. Analysts are crowing about the missing "consumer engine" without which the economy may stagnate.Many fear that the season's weakness will reverberate throughout the economy: Stores will be saddled with excess merchandise, forcing them to slash prices and accept razor-thin profit margins....

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Immigration, economic revival head Obama's second-term checklist

- President Barack Obama is pledging to focus in his second term on immigration reform, boosting economic growth through infrastructure repair and energy policies that nod to environmental protection.The president is mired in a difficult fight with congressional Republicans to avoid sharp spending cuts and steep tax increases collectively referred to as the "fiscal cliff." However, he still has a...

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Fiscal deal stalls as clock ticks to deadline

Efforts to prevent the economy from tumbling over a "fiscal cliff" stalled on Sunday as Democrats and Republicans remained at loggerheads over a deal that would prevent taxes for all Americans from rising on New Year's Day.One hour before they had hoped to present a plan, Democratic and Republican Senate leaders said they were still unable to reach a compromise that would stop the automatic tax hikes...

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Equity futures rise, but "cliff" stalemate suggests more losses

Equity futures were slightly higher at the beginning of electronic trading on Sunday night as talks continued in Washington over resolving the "fiscal cliff."However, stocks still could end up falling on Monday when the cash markets open if lawmakers are unable to come to an agreement to avoid a series of $600 billion in tax hikes and spending cuts that are expected to hurt economic growth."Hard to...

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Monti's reform path faces test beyond Italy elections

 Mario Monti declared "mission accomplished" when he resigned as Italy's prime minister, having seen off the debt crisis that loomed as he took office just over a year ago but 2013 will test whether he has laid the foundations for lasting economic change.Elections on February 24-25 will give Italian voters their first chance to decide whether they want to stick to the broad course he has set...

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He's not running, but Italy's Monti has a plan

For someone not running for political office, Premier Mario Monti has an awfully detailed plan for how to fix Italy's financial woes and bring the country and the rest of Europe back to economic health. And by Monday, not only had centrist leaders who want him as premier endorsed it, but so did the head of the Catholic Church in Italy.Monti issued a 25-page agenda to "Change Italy, Reform Europe"...

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