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Cotton and Textiles: World


Nafiu Badaru, a junior civil servant in northern Nigeria's biggest city Kano, doesn't make much money and it takes some cash to look good so he tends to buy made-in-China fabric.

British retailer Marks & Spencer posted its first rise in annual profit in four years and said it would return excess cash to shareholders, fuelling hopes that it has finally rediscovered a successful formula.
Apparel retailer Gap Inc reported an 8 percent fall in quarterly profit, hurt by a stronger dollar, supply delays in the United States and lower demand for its namesake brand.
ICE cotton futures fell for the fifth straight session, ending their worst week in more than six months as a stronger dollar continued to prompt speculator liquidation, though traders noted prices remained locked in a tight trading range. "We're back at the bottom of that four-cent channel," said Ron Lawson, a partner at commodity investment firm Logic Advisors in Sonoma, California. Cotton contracts for July settled down by 0.43 cent on Friday, a 0.7 percent drop, to 63.30 cents per pound. It traded within a range of 63.28 and 64.12 cents a pound.
The fluctuations observed during the day:

ICE cotton futures fell for the fourth straight day on Thursday, hitting a four-week low after failing to maintain session highs hit immediately following the release of the US government's weekly export sales report, which traders said was supportive. "We just got a little overheated to the upside," said Keith Brown, a Moultrie, Georgia-based cotton trader. "There's a general malaise that's gripped this cotton market."
The fluctuations observed during the day:


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,117.17 0.50
Arrow Nikkei 20,413.77 0.74
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,643.88 1.12

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln