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TSX steady as broad gains offset by drop in energy shares TORONTO: Canada's main stock index was steady on Monday with losses in oil and gas shares offsetting moderate gains in the heavily weighted financials group and most other sectors, but trade was quiet due to the US Memorial Day holiday. Investors were looking ahead to Canadian bank quarterly earnings later this week, trying to assess the impact of a lackluster economy and low energy prices on the sector."The big thing this week will be bank earnings. Not only what they report, but the tone of what they're saying. I think they're going to say the landscape is positive," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "We have partly recovered here. One time, investors were concerned about the banks' exposure to energy, but I think that's passed."Financial stocks, which make up more than a third of the index's weight, were up 0.1 percent with Brookfield Asset Management ...


Russia's Gazprom says to consider cutting opex by 2-3pc per year MOSCOW: Russia's top natural gas producer Gazprom said on Monday that its board would consider cutting operational expenditure by at least 2-3 percent annually. The board will convene to consider the matter on June 10, the company said in a regulatory filing. In 2014, Gazprom's operational costs stood at 3.94 trillion roubles ($78.8 billion), up from 3.6 trillion roubles in 2013. Copyright Reuters, 2015

Former banker to head Greece's bank bailout fund ATHENS: The Greek government named former banker George Michelis as chairman of the country's bank rescue fund on Monday, which has been without a head since the resignation of both its chairman and chief executive earlier this year. The Hellenic Financial Stability Fund (HFSF), financed by the country's bailout package, is the rescue vehicle that recapitalised Greece's big banks and covered the costs of winding down others deemed non-viable.Michelis has held a series of posts ...

European stocks fall on Greek and Spanish political concerns LONDON: European shares fell on Monday, with the Spanish and Greek stock markets hit by investors' concerns over Greece's debt problems and a poor local election result for the government in Madrid.Athens' main ATG equity index fell 3.1 percent as the Greek government said on Monday that it intended to make good on its debt obligations but urgently needed aid to be able to do so. The ATG is down by around 1.5 percent since ...

IMF's Blanchard says Greek budget proposals will not provide surplus PARIS: Greece's budget proposals are not enough to ensure a surplus this year, the International Monetary Fund's chief economist was quoted as saying on Monday. Greece was supposed to have a 3 percent budget surplus in 2015, but that looks unrealistic now, Olivier Blanchard told the French financial newspaper Les Echos in an interview. Lowering that surplus would lead to new financing needs, for which Greece would again need European help.That could work only if, ...

Italy's Monte dei Paschi launches 3 billion euro share sale MILAN: Italian bank Monte dei Paschi di Siena launched a 3 billion euro ($3.3 billion) share sale on Monday, its second cash call in less than a year, to plug a capital shortfall exposed by last year's Europe-wide stress tests and repay state aid. The Tuscan bank is raising more than its stock market value which stood at 2.4 billion euros at the end of last week by selling 2.56 billion new shares.The highly dilutive ...


 



 
IndexClosingChg%
ArrowDJIA 18,232.02 0.29
ArrowNasdaq 5,089.36 0.03
ArrowS&P 2,126.06 0.22
ArrowFTSE 7,031.72 0.05
ArrowDAX 11,815.01 0.42
ArrowCAC-40 5,117.17 0.50
ArrowNikkei 20,413.77 0.74
ArrowH.Seng 27,992.83 1.70
ArrowSensex 27,643.88 1.12





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln