Wall St. closes down for January, Shake Shack rallies in debut

NEW YORK (Reuters) - U.S. stocks closed down on Friday after a volatile session as investors worried at the end of a rough month for the market about weak U.S. growth data and whether instability in Europe could hurt corporate earnings in the United States.
U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
This came after Greece's finance minister said the government would not cooperate with the European Union and International Monetary Fund mission.
A brief afternoon rally from rising oil prices failed to stick as investors, nervous about U.S. and global economies, fled to bonds from equities and even sold off utilities stocks, the worst performing sector on the day.
"It feels like a flight-to-safety trade on a month-end. People are putting money into assets that have done well this month," said Peter Coleman, head trader at ConvergEx Group in New York, who said Friday was a good reflection of the month.
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Forex - USD/CAD jumps over 1%, hits fresh 6-year highs

The U.S. dollar rose over 1% to fresh six-year highs against its U.S. counterpart on Friday, even as data showed that the U.S. economy grew at a slower pace than expected in the last quarter, as downbeat Canadian growth data weighed on the nation's currency.
USD/CAD hit 1.2750 during early U.S. trade, the pair's highest since March 2009; the pair subsequently consolidated at 1.2755, climbing 1.09%.
The pair was likely to find support at 1.2506, Thursday's low and resistance at 1.3063.
The Bureau of Economic Analysis reported on Friday that U.S. gross domestic product rose 2.6% in the last quarter of 2014, down from a previous estimate of 3.0% and from a growth rate of 5.0% in the three months to September.
The greenback remained supported after the Federal Reserve indicated this week that interest rates could start to rise around mid-year.
Meanwhile, a report by Statistics Canada showed that the country's GPD fell 0.2% in November, compared to expectations for a 0.1% downtick and after a 0.3% gain in October.
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Forex - EUR/USD off session highs after batch of U.S., E.Z. data

The euro erased gains against the U.S. dollar on Friday, despite tepid U.S. economic reports as earlier data from the euro zone failed to boost confidence in the bloc's economic recovery.
EUR/USD pulled away from 1.1364, the session high, to hold steady at 1.1308 during U.S. morning trade.
The pair was likely to find support at 1.1223, the high of January 27 and resistance at 1.1421, the high of January 27.
In a revised report, the University of Michigan said its consumer sentiment index ticked down to 98.1 in January from 98.2 the previous month. Analysts had expected the index to remain unchanged this month.
The UoM also said its inflation expectations for the next 12 months rose to 2.5% this month from 2.4% in December.
A separate report showed that the Chicago purchasing managers' index rose to 59.4 this month from 58.8 in December, whose figure was revised up from a previously estimated reading of 58.3. Analysts had expected the index to fall to 57.5 in January.
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Selling pressure of banking stocks pulls down Vietnam's Hanoi stock market

HANOI, Jan. 30 (Xinhua) -- Selling pressure of banking stocks pulled down Vietnam's capital Hanoi stock market after rising in the previous week.
On Friday, HNX-Index, the benchmark of the Hanoi bourse lost 1. 3 points or 1.5 percent from the previous week's close.
The index witnessed two ups and three downs during the week, posting the lowest level of 85.56 points on Friday and the highest level of 87.23 points on Wednesday.
Last week, the HNX-Index fluctuated between 84.63 points and 86. 86 points.
The Hanoi bourse closed at 85.56 points on Friday, down 1.39 points or 1.6 percent against the previous trading session.

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Opinion: Better stock gains — for a privileged few

SAN FRANCISCO (MarketWatch) — The New York Stock Exchange, should it follow through on a report that suggests it will introduce a midday stock auction, isn’t going to incur the wrath of Michael Lewis, who’s latest book, “Flash Boys,” argued that high-speed trading has rigged the markets against regular investors.
But the Big Board, now a unit of Intercontinental Exchange Inc. ICE, +0.42%  , isn’t exactly doing regular retail investors a favor. Its plan to create a midday auction will match big institutional sellers’ bids and offers for big blocks of shares in a bid to win more business away from dark pools where the same process happens off the tape and anonymously.

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Dutch companies to develop small scale LNG

Dutch companies VEKA Group, Deen Shipping and IUVENIS have joined forces with Peter Goedvolk, and will cooperate in the field of trade, transport and bunkering of small scale LNG in Northwest Europe.
Goedvolk recently established Count, a commodity, trading and logistics company.
VEKA Group and Deen Shipping previously launched an LNG company, LNG Bunkering Service B.V. and announced the construction of the first LNG bunker tanker, LNG PRIME.
The LNG PRIME will be active in the Amsterdam, Rotterdam, Antwerp (ARA) region, bunkering seagoing vessels as early as the start of 2016.

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Mattel Reports Fourth Quarter and Full Year 2014 Financial Results

Fourth Quarter Highlights

• Worldwide net sales down 6% (including an unfavorable impact from changes in currency exchange rates of 3%);
• North American Region¹ gross sales down 2% and International Region gross sales down 5% (including an unfavorable impact from changes in currency exchange rates of 8%);
• Worldwide gross sales by core brands: Barbie^® down 12%; Hot Wheels^® up 5%; Fisher-Price^® down 11% and American Girl^® down 4%;
• Gross margin decreased 410 basis points of net sales, partially due to the acquisition of MEGA^® Brands;
• SG&A increased 390 basis points of net sales, including the impact of the acquisition of MEGA Brands;
• Operating income of $237.0 million compared to operating income of $479.3 million in the fourth quarter of 2013; and
• Earnings per share of $0.44 (includes a negative impact of $0.05 per share from MEGA Brands integration costs² and a negative tax impact of $0.03 per share) vs. prior year earnings per share of $1.07.

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Pound Sterling to Canadian Dollar (GBP/CAD) Exchange Rate Forecast: ‘Loonie’ Tumbles on GDP Data

he Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate advanced to 1.92 after GDP data out of the North American nation came in below forecasts.
Canada’s Gross Domestic Product (GDP) contracted in November as manufacturing dropped the most since January 2009 and as the economy suffered from declines in mining and oil and gas extraction.
According to Statistics Canada the nation’s GDP contracted by -0.2% on a month on month basis, a figure that was worse than the unchanged 0.3%  forecast.
Earlier the Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate surged to a new six year high on Friday as oil prices fell yet again.

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USD/CAD – Canadian Dollar Slide Continues, Pair Trading Above 1.26

USD/CAD – Canadian Dollar Slide Continues, Pair Trading Above 1.26

The Canadian dollar continues to lose ground on Thursday. In the North American session, USD/CAD is trading above the 1.26 line and the pair has jumped over 200 points since early Wednesday. On the release front, US numbers were a mix. Unemployment Claims sparkled, dropping to 265 thousand. However, Pending Home Sales declined 3.7%. There are no Canadian releases on Thursday. On Friday, we’ll get a look at the only Canadian event of the week, GDP. The markets are expecting a decline of 0.1%. A weak reading could send the reeling loonie even lower. US employment numbers have improved as the economy chugs along. This was underscored by Unemployment Claims, which plunged to 265 thousand, down from 307 thousand a week earlier. This marked the indicator’s lowest level since April 2000. The news was not as positive from Pending Home Sales, which declined 3.7%, its worst reading in a year.

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China Money Rate Completes Biggest Monthly Decline Since May

(Bloomberg) -- China’s benchmark money-market rate capped the biggest monthly drop since May after the central bank added funds to the financial system to offset capital outflows and meet a seasonal pickup in demand for cash.
The seven-day repurchase rate, a gauge of interbank funding availability, fell 79 basis points in January to 4.17 percent as of 4:30 p.m. in Shanghai, a weighted average from the National Interbank Funding Center shows. It climbed as high as 6.59 percent in January 2014, during the two weeks leading up to the Lunar New Year holiday. Demand for money climbs before and during the weeklong break, which begins Feb. 18 this year, as people exchange gifts and families get together for meals.

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Indicted money exchange ex-worker gets 3 years in U.S. prison

Jan 30 (Reuters) - A former information technology employee at the defunct digital currency exchange Liberty Reserve was sentenced on Friday to three years in a U.S. prison for his role in concealing what authorities described as a massive money laundering business for criminals worldwide.
Maxim Chukharev, 28, will likely serve approximately 10 months, with good behavior, after receiving credit for 10 months in a Costa Rican jail and 10 months in U.S. custody while awaiting trial, his lawyer said.
In court filings, prosecutors acknowledged that Chukharev was the "least culpable" of seven defendants charged with helping to operate Liberty Reserve, which authorities say was used almost exclusively by criminals to process money transfers connected to drug trafficking, child pornography, computer hacking and other crimes.

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New restrictions planned for Canberra's Cricket World Cup matches at Manuka

Cricket World Cup matches at Canberra's Manuka Stadium will be subject to tough new rules after Attorney-General Simon Corbell issued special declarations earlier this month.
As part of new major event laws introduced in the ACT last year, Mr Corbell triggered anti-scalping provisions, along with advertising free "clean zones" around Manuka Oval and special copyright protections for World Cup marketing symbols and sponsors.
Police will have enhanced powers to remove fans and bar them from re-entry to the venue and to conduct ordinary frisk searches, confiscate items and arrest or detain people who do not follow instructions.
Officers also have the ability to work in coordination with security staff to conduct non-invasive searches and scanning for prohibited items.
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Blizzard Executives Reportedly Think Heroes of the Storm Will Be a Failure

Blizzard executives reportedly don’t have high hopes for the developer’s upcoming MOBA Heroes of the Storm, with a report suggesting that many of the company’s staff are expected to be laid off following its release to recuperate its losses.
According to contributor Tae Kim of Yahoo Finance, an Activision Blizzard insider released a huge batch of information regarding a number of games Blizzard has in the pipeline, along with details regarding its current games on the market. Along with claiming that Blizzard is now actively working on a 2v2 mode on Hearthstone and that the online trading card game has pulled in numbers that are “off the charts,” the unnamed source then went on to say how Heroes of the Storm could have a detrimental impact upon the company following its release.
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Belarusian banks resume online exchange operations

MINSK, 28 January (BelTA) - Belarusian banks are resuming online exchange operations on bank cards, BelTA has learned.

Alfa Bank (Belarus) informs it will be back online for Alfa Click and Alfa Mobile operations on bank cards denominated in Belarusian rubles on 2 February 2015. 

On 26 January Priorbank lifted restrictions on online trading in Belarusian-denominated debit cards in the national segment.


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CORRECTION OFFICIAL-BRIEF-Tele2 says 2015 profit forecast assumes constant fx rates

(Changes from previous company comment that profit guidance included devaluation risk in Kazakhstan after company corrects)
Jan 30 (Reuters) - Tele2 :
* CFO says 2015 guidance based on constant currency rates
* CEO says did better in Kazakhstan in Q4 than TeliaSonera controlled KCell thanks to fewer enterprise clients, low price market position. Further company coverage: (Reporting By Sven Nordenstam and Olof Swahnberg)

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Daily FX Trading Update: Japanese Inflation Figures Fall Short – Jan 30, 2015

The US dollar was able to advance against most of its FX trading counterparts when risk aversion extended its stay in the currency market. Traders are also increasing their long dollar bets after the FOMC retained its hawkish bias earlier this week. Data from the US economy was mixed, as the initial jobless claims showed a better than expected 265K reading versus the projected 301K figure while the pending home sales report marked a 3.7% decline. For today, the US advanced GDP reading is due and another strong figure might lead to more gains for the dollar. Analysts are expecting to see a 3.0% growth figure for Q4.

The euro recovered slightly in recent FX trading, despite weaker than expected data from Germany. The preliminary CPI showed a 1.0% decline instead of the projected 0.8% drop while the unemployment change report showed a mere 9K drop in joblessness. Apart from that, the previous month’s reading was downgraded to show a smaller decline in unemployment. German retail sales and French consumer spending figures are up for release today, with the former likely to show a 0.4% gain and the latter to print a 0.3% uptick. Also up for release are the Spanish flash GDP and CPI figures, along with the euro zone CPI flash estimates.

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Declines in RMB spot prices hint at downward pressure

The efforts of the People's Bank of China (PBOC) to stabilize the currency rates did not hinder the market from testing how low the renminbi can go during the last week of January.
The renminbi plummeted by nearly 2%–the maximum trading range permitted by regulators–during the Jan. 29 session after the PBOC set the daily reference price of the renminbi against the US dollar 0.0053 yuan (US$0.0008) lower to 6.1335 yuan (US$0.98).
It was the third nearly 2% drop during the four sessions of the week despite the PBOC's reference price showing a rise of 0.0049 yuan (US$0.0008) during that period.
The Chinese currency has shed 3.5% against the greenback in the spot market for the month as of Jan. 29 and saw a record 1.95% intra-session decline on Jan. 28.
Although the PBOC attempts to stabilize the price of the renminbi through the management of the daily mid-point price for the foreign exchange market, analysts said that the nearly 2% declines during recent sessions showed the bearish sentiment toward the Chinese currency.
They also said the concern that central banks around the world may decide to weaken their currencies after several countries unexpectedly introduced monetary easing measures.
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Tel Aviv Stock Exchange Weekly Review: 25-29 January 2015

Trading on the Tel Aviv Stock Exchange (TASE) during the last week of January was characterized by a mix trend in all the leading share indices; TA-Oil and gas Index made notable increase of 6.0%; Trading commences in derivatives on the TA-100 Index

TEL AVIV, Israel, January 29, 2015 /PRNewswire/ --

TA-25  

The TA-25 index decreased 0.5% over the week and decreased 1.2% since the beginning of the year, after an increase of 10.2% for the whole of 2014.

     (Logo: http://photos.prnewswire.com/prnh/20130117/588933 )

TA-100  

The TA-100 index decreased 0.1% over the week and decreased 1.5% since the beginning of the year, after an increase of 6.7% for the whole of 2014.

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Forex - UK Preview: due 2 Feb, 09:30GMT - Jan manufacturing PMI survey

We look for a small increase in the manufacturing PMI survey to 53 in January following its fall to 52.5 in December. This will keep the survey far below the levels seen in January last year and is also weaker than the last year's average of 54.8. Weaker economic activity abroad is certainly having a negative impact on the sector and Markit stated with the December survey 'that the main weak spot remains exports, with overseas new order inflows stagnating amid weaker economic growth in key markets and the ongoing lethargy of the euro area'. Domestic demand is however still faring rather well and it is also positive to see employment continue to edge higher.

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Bought Svenska Cellulosa - A Swedish Personal Care And Tissue Company

This is an excerpt from a blog published earlier today. Stocks, Bonds & Politics: Initiated Positions in Two Swedish Companies-Bought: 50 Swedbank at $23.25 and 50 SCA at $22.27/Sold 54 LXP at $11.44 Vanguard Roth IRA-Transitioning Position to Fidelity Roth IRA
Back in the 1970s and 1980s, Japanese investors were using their weak currency to buy overpriced assets in the United States. Back in the mid-1970s, one USD would at times buy more than 300 yen and usually somewhere between 200 to 250 yen between 1980 through 1985. It really did not take much reflection to disagree with that approach. The apex of that trend was reached in 1990 with the purchase of the Pebble Beach golf course for over $800 million by Minoru Isutanai who then sold the property for a $340 million loss within two years.

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