Due to a technical problem on Wednesday Jan
16, we are upgrading the news management system by a Canadian
software company, which will be
completed in coming days.
It has taken longer than
anticipated. That is one of the drawbacks of outsourcing. C'est
la vie - even Google News updating falls behind at times!
We expect to have our upgraded
news system on stream on Wednesday.
News Headlines to Jan 16 2008
Today's News Links
Tuesday's stories and links from Jan 17 2008
Markets in Europe
volatile on rumours of interest rate cuts - 1245 pm
European equities have
been very volatile on Tuesday following another plunge in the first
hour of trading
US market players as reported by the
business television channel CNBC, are calling for a 0.75% interest
rate cut and rumours of a coordinated interest rate cut by the
Federal Reserve, European Central Bank and the Bank of England, gave
heart to some investors in Europe.
The Fed may well deliver an emergency
cut but it would be an absolute shock if the European Central Bank
reversed its inflation stance in reaction to stockmarket movements.
Tuesday, in the first 90 minutes of trading, the Dow Jones 600 fell almost 4% as had the FTSE 100.
Germany's Dax plunged almost 5% making the 2-day tumble 12%.
In Dublin, the
ISEQ dropped 3% to 6,074.
By mid-morning, the FTSE 100 had
risen 0.6% at 5,609.1 but the Dax remained 0.8 per cent lower at
The FTSE 100 has been trading down
just 0.09%; the Dax is down 1.71% and France's CAC 40 is down 0.79%.
In Dublin, the ISEQ is up 1.56%.
German bank Hypo Real Estate rose
over 4% having fallen more than 40% since announcing a
subprime-related CDO writedown last week.
Asia-Pacific stocks fell sharply today following Monday's
sessions when fears of a US recession spread across the region.
The MSCI Asia Pacific
Index, which tracks more than 1,050 regional stocks, slid 6.7% and
the Nikkei 225 in Japan dropped 5.7%, its lowest level since
September, 2005. Shares in Hong Kong plunged 8.7%, while falling
stocks in India prompted a halt to trading at the Bombay Stock
Exchange. The Sensex 30 index fell 5%, making the 2-day plunge
a massive 12%.
In South Korea, the
Kospi Composite tumbled 4% after a 3% drop Monday. In Australia, the
S&P/ASX 200 fell 7.1% - the largest daily percentage fall since
In the US the futures market has been
signalling a fall in the Dow of over 500 points.
National benchmarks - Europe
Irish Share Prices