Viernes 02/03/12

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4:51 p.m. EST 03/02/12Treasurys Price Chg Yield %
2-Year Note 1/32 0.282
10-Year Note 15/32 1.979
* at close

4:56 p.m. EST 03/02/12Futures Last Change Settle
Crude Oil 106.51 -2.33 106.70
Gold 1712.2 -10.0 1709.8
E-mini Dow 12968 -5 12973
E-mini S&P 500 1368.50 -6.00 1374.50

5:06 p.m. EST 03/02/12Currencies Last (mid) Prior Day †
Japanese Yen (USD/JPY) 81.81 81.11
Euro (EUR/USD) 1.3196 1.3312
† Late Thursday in New York.

[admin]

Major Stock Indexes Last Change % Chg
DJIA* 12977.57 -2.73 -0.02
Nasdaq* 2976.19 -12.78 -0.43
S&P 500* 1369.63 -4.46 -0.32
DJ Total Stock Market* 14360.42 -65.47 -0.45
Russell 2000* 802.42 -12.80 -1.57
Global Dow* 1999.88 -5.49 -0.27
Japan: Nikkei Average

[admin]

http://online.wsj.com/public/page/espanol-inicio.html

[goodprofit1]

Analysts say zinc-miner Trevali in Glencore's sights

TORONTO (miningweekly.com) – Giant trading and mining company Glencore has struck a deal to buy a 7.8% stake in Canada’s Trevali, which owns a zinc mine in New Brunswick, for $18-million, sparking speculation that it might be eyeing the entire company.

Bigger companies snapping up smaller producers in a string of deals in recent months means that Trevali cuts a lonely figure as a TSX-listed pureplay, and it could be only a matter of time before it too finds itself in a takeover, Raymond James analyst Adam Low commented.

"As a junior zinc producer, you don’t last – you get acquired," he said in a telephone interview.

Last year, the world's biggest zinc producer, Nyrstar, bought out both Breakwater Resources and Farallon Mining for their zinc assets. Glencore, the second-biggest producer, has also been buying mines in Namibia and Zambia.

Trevali CEO Mark Cruise said on Thursday the investment was a “ringing endorsement” of the company’s Halfmile mine, which started producing late last year, and its Santander project in Peru, which it would use the proceeds to fund.

Glencore’s Chris Eskdale will also join the board of TSX-listed Trevali, which started producing zinc at Halfmile at the end of last year, and aims to start output at Santander around the middle of the year.

The commodities trader, which earlier this year made a bid to merge with Xstrata to create a competitor to the world’s biggest mining firm, BHP Billiton, also owns a $2-million convertible debt facility in Trevali.

If the facility, which is convertible in September, were exchanged for shares today, Glencore would own 8.8%.

If Glencore converted the debt and exercised warrants it would own around 12.5% of Trevali, together with Xstrata, which holds around 4.5% of the company.

Versant Partners analyst Rob Chang pointed out that Glencore was bullish on zinc, recently agreeing to smelt concentrate for no charge in return for greater exposure to price movements. He also raised the possibility of the LSE-listed company making a go for Trevali.

Speaking in a telephone interview, Cruise said Trevali already had a "really good relationship" with Glencore at the operation level.

Under a 2010 partnership agreement, Glencore would design, build and operate the mill and mine at Santander on a contractor/toll basis and buy the plant’s concentrate at benchmark terms. Trevali would then acquire the plant and associated infrastructure over a four-year period following commercial concentrate production.

Cruise said that Trevali would be a "natural fit" for Glencore to own, but added that he was not expecting any bid until both projects had been derisked by being brought into full production. That means not much will likely happen on the corporate activity front until the end of the year or early 2013.

He commented that Trevali was not up for sale, but added that "if someone rings the doorbell you’ve got to answer the door".

If a bid were to arise, "I suspect it would be friendly", and Glencore's position in the company did not preclude another potential buyer taking a look, Cruise suggested to Mining Weekly Online.

"We're on everyones' radar."

A Glencore spokesperson declined to comment on speculation the company might want to buy Trevali.

Zinc, used to galvanise steel, is currently in a surplus, but there is a growing expectation that there will be a shortage in coming years as large mines reach the end of their lives, and not enough new ones are brought into production to replace them.

Cruise said "there is no doubt" the zinc market is heading for a deficit.

"From where I stand, it looks like it will be starting to kick in towards the end of 2013," he commented.

Vancouver-based Trevali late last year reached an agreement with Xstrata to toll treat ore from its Halfmile zinc mine at the diversified major’s nearby Brunswick 12 mill. Xstrata will also buy the metals in concentrate.

The company has a goal to reach yearly production of 400-million pounds of zinc equivalent by 2015.

Edited by: Creamer Media Reporter

[admin]

BID ve crecimiento A.Latina en 3,5-4,0 pct en 2012: Moreno
viernes 2 de marzo de 2012 14:02 GYT Imprimir [-] Texto [+]

1 de 1Tamaño Completo
SAO PAULO (Reuters) - América Latina debería anotar un crecimiento promedio de entre un 3,5 y 4 por ciento este año, una desaceleración frente a los cálculos anteriores, debido al impacto de la crisis internacional, dijo el viernes el presidente del Banco Interamericano de Desarrollo (BID), Luis Alberto Moreno.

"No hay duda de que la crisis internacional tiene efectos para todo el mundo y en eso América Latina no es una excepción", dijo Moreno durante una conferencia de prensa en la sede de la Federación de Industrias del Estado de Sao Paulo.

"Hoy por hoy el problema de América Latina más allá de tantas brechas que tenemos que cerrar y de los retos que tenemos nosotros, los riesgos sobre el crecimiento económico vienen más de afuera de lo que pasa en Latinoamérica", agregó.

En lo que se refiere a los créditos que el BID tiene previsto extender este año a la región, "tenemos la posibilidad de estar prestando cerca de 10.200 millones de dólares y en los próximos años podremos estar prestando un promedio de 12.000 millones de dólares al año durante los próximos 10 años".

[Arnold]

Otro proyecto menos para Rio Crystal, se queda con el de Zinc....

La Cumbre Copper Project
The Company has completed an initial drilling program of approximately 1,000 meters at its La Cumbre copper oxide project near Chala, Peru. Despite encouraging preliminary surface indications of copper mineralization, drilling results were low grade and the project does not meet the Company’s investment requirements. Consequently the La Cumbre option contract has been cancelled. The Company believes it is better to use its resources to continue the exploration of its Bongará Property and seek other more promising exploration projects in Peru.

[admin]

Bolsa de Valores de Lima terminó la semana con resultados positivos
En tanto, al cierre de sus operaciones el índice industrial Dow Jones registró una baja de 0,02%

Viernes 02 de marzo de 2012 - 06:28 pm
(Foto: Archivo El Comercio)
La Bolsa de Valores de Lima (BVL) presentó indicadores positivos al cierre de la sesión de hoy impulsada por las acciones líderes del mercado y un panorama externo tranquilo.

El principal indicador de la plaza limeña, el Índice General, ganó 0,79% y acabó en 23.163 enteros.

También el Índice Selectivo y el Índice Nacional de Capitalización (INCA) subieron 0,87% y 0,27%, respectivamente.

En la sesión el monto negociado en acciones se situó en S/.58,56 millones producto de las 1.563 operaciones de compra y venta.

Entre las principales acciones que presentaron una evolución favorable en el mercado local de valores figuran Ferreyros (2,01%), Alicorp (2,56%) y Cementos Lima (1,51%).

WALL STREET
Los mercados regionales cerraron sus jornadas con indicadores mixtos, mientras que la Bolsa de Valores de Nueva York (NYSE) presentó resultados a la baja.

El índice industrial Dow Jones cedió 0,02%, al tiempo que el indicador tecnológico Nasdaq y el índice Standard & Poor’s 500 perdieron 0,43% y 0,32%, respectivamente.

[admin]

Tornado mata a 20 personas.

[admin]

Cuando entendera la izquierda que en los negocios se hace lo que el publico quiere, asi es el libro mercado, el gobierno no nos puede obligar a comprar carros que no queremos. Eso no es democracia. Y una vez mas los subsidios no funcionan, solo son mas gasto y deuda para la nacion.

GM dejara de fabricar el Chevy Volt (carro a bateria) por ventas lentas. 1,300 trabajadores seran despedidos.


GM to Idle Chevy Volt Output as Sales Slow
By SHARON TERLEP
General Motors Co. will idle production of its Chevrolet Volt battery-powered car for five weeks beginning this month because of slow sales amid an effort to boost the vehicle's consumer appeal, the company said Friday.

Launched last year with great fanfare, the Volt has had a rocky start as sales stalled, and the car became a lightning rod for critics of the Obama administration's auto-industry bailout and support for alternative energy.

General Motors will idle production of its Chevrolet Volt battery-powered car for five weeks beginning this month because of slow sales. Sharon Terlep has details on The News Hub from Detroit. Photo: AP
.GM said around 1,300 workers at the Hamtramck, Mich., factory where the Volt is built will be out of work between March 19 and April 23, a spokesman said. The plant had just resumed production on Feb. 6 after a prolonged holiday shutdown.

Mark Reuss, GM's North American chief, said in an interview the auto maker remains committed to the Volt and is taking a number of steps to improve lagging sales. GM will launch a new national ad campaign this month that features Volt owners praising the car. It also recently dropped the monthly cost of leasing the vehicles to $350 from $399 for a 36-month lease. In California, new low-emissions versions of the vehicles that qualify for use in the state's high-occupancy vehicle lanes will be sold to consumers at no extra cost.

"This technology is here to stay, we have all kinds of people who want to copy it and go after it. We are not re-evaluating anything," Mr. Reuss said. "The only question here is what the rate of sales will be."

Insight from CFO Journal GM-Peugeot Alliance Could Contain Iran Tripwire
Read CFO Journal. » For GM, the Volt has become an outsize issue. GM spent hundreds of millions of dollars developing the Volt and has been hoping the car would put a halo on the company's image, much the way the Prius hybrid won the favor of American consumers for Toyota Motor Corp.

Volt uses a lithium-ion battery to power the car and has a small gasoline engine that kicks in when the battery runs low.

Former GM Vice Chairman Bob Lutz the main force behind the Volt, said recently that GM's lofty targets for the Volt are its main problem.

"The Volt is a bases-loaded home run," Mr. Lutz said. "It will overcome."

But short supplies at U.S. dealerships and some missteps in rolling the vehicles out to U.S. dealers weighed on sales last year. The vehicle's relatively high price tag—$41,000 before a $7,500 government rebate—also kept many consumers away.

A worker moved a door into position for a Chevrolet Volt at the GM plant in Hamtramck, Mich., last July.
.A U.S. safety investigation into whether the car's battery posed a fire risk after a serious accident added negative publicity. One vehicle caught fire and battery packs in three others sparked or caught fire after severe crash tests by a U.S. regulatory agency. GM said it would modify and strengthen the vehicles, and federal officials cleared the Volt of any safety risk. Executives blamed the extensive media attention that accompanied the investigation for crimping interest and sales earlier this year.

At the same time, GM has boosted the appeal of its gasoline-engine compact cars. Its 2012 Chevrolet Cruze, for instance, gets up to 42 miles on a gallon of gasoline in some versions, yet costs about half the price of a Volt.

Jack Domaldson of Davis, Calif., said he and his wife considered buying a Volt but found it impractical and bought a Toyota Prius instead. Why did the Volt lack appeal? "Short range, expensive, no infrastructure support, and the element of uncertainty with performance," he said.

Word of the production halt comes only days after President Barack Obama praised the car in a recent campaign speech in Washington, D.C., saying he planned to buy one "in five years when I'm out of office."

GM on Thursday said it sold 1,023 Volts in February, up from 676 in January. It outsold Nissan Motor Co.'s all-electric Leaf, which had sales of 478 in February. But the Volt had a large backlog of unsold vehicles while the Leaf is in short supply.

GM's move signals, "consumer demand is just not that strong for these vehicles," said Lacey Plache, chief economist for auto-research firm Edmunds.com. "The price premium on the Volt just doesn't make economic sense for the average consumer when there are so many fuel-efficient gasoline-powered cars available, typically for thousands of dollars less."

The Volt also has garnered strong backing from environmentalists, including many of the critics who slammed GM for killing a previous effort to test an electric car called the EV1.

The auto maker has scaled back expectations for the Volt after it fell short of its target for 2011. GM sold about 7,700 Volts last year, below its target of 10,000 vehicles.

After the battery-safety probe cut customer visits to dealers and slowed sales, GM Vice Chairman Stephen Girsky cautioned the company will know by June whether the Volt "has legs" in the market.

GM's Mr. Reuss said the reduced lease price will make the vehicle more affordable. Demand also will increase once the newly modified version of the vehicles are on the road, he said. A planned new national advertising campaign and rising gas prices also should bring in more consumers, he said.

"There are some really good things happening and we are going to keep that momentum," Mr. Reuss said.

[admin]

Nissan esta pensando revivir el Datsun.

[admin]

Moody's le recorta el rating a Grecia al nivel mas bajo: C, Moody's piensa que no pagaran sus bonos.

MARKETSMarch 2, 2012, 6:32 p.m. ET
Moody's Cuts Greece's Rating to Lowest Level

By DREW FITZGERALD
Moody's Investors Service on Friday downgraded Greece's sovereign-debt rating to its lowest possible rating short of default after the country reached a debt-restructuring deal that imposes a hefty haircut on private creditors.

Moody's now rates Greece at C, the lowest rung on its rating scale. The credit rater said it won't assign an outlook on the new rating given the likelihood the government will default on its bonds.

Moody's said the difference between the value promised by Greek bonds and value of the restructuring package exceeds 70%, which is consistent with a C rating.

Standard & Poor's Ratings Service on Monday cut Greece's long-term credit rating to selective default—making it the first euro-zone member to be officially rated in default—13 years after the common currency was adopted in what was supposed to a be project to strengthen the European Union.

S&P's move was expected after the ratings firm said last month it would consider Greece in default if it retroactively added so-called collective-action clauses to its sovereign debt as part of an effort to force creditors to participate in a bond swap offering.

Moody's said Friday that it will reassess the bonds' credit risk after the debt exchange takes place and the European Union finalizes a new memorandum of understanding with the Greek government.

[admin]

Next Week’s Tape: Jobs, Jobs, Jobs!

By Steven Russolillo

Economics/FedSpeak

Monday

ISM non-manufacturing PMI for February. Economists expect 56.0, below the previous month’s 56.8 reading. Levels above 50 indicate the sector is expanding.
Factory orders for January are expected down 1.6% compared to a 1.1% in the prior month.
Fed officials Richard Fisher and Charles Evans are scheduled to speak.
Tuesday

No major economic data on the calendar.
Wednesday

ADP Jobs Survey. Economists expect 208,000 jobs were added last month, compared to 170,000 jobs a month earlier.
Productivity (revised) for the fourth quarter. Consensus calls for a 0.8% gain compared to the previous 0.7% rise.
Unit labor costs (revised) for the fourth quarter. Economists expect a 1.2% gain, the same as the earlier reading.
Consumer Credit. Level of consumer credit outstanding is expected to increase to $12 billion in January compared to December’s $19.31 surge.
Thursday

Jobless Claims. Economists expect 355,000 weekly claims were filed as opposed to 351,000 in the prior week.
Friday

Nonfarm payrolls. Consensus expects 210,000 jobs were added in February, below the 243,000 jobs added in January. It would be the third consecutive month that hiring increases topped the 200,000 level.
Unemployment rate expected to hold steady at 8.3%.
Average hourly earnings seen rising 0.2% in February after increased 0.2% a month earlier.
US trade deficit. Economists expect it held at $48.8 billion in January compared to the same level in the prior month.
Wholesale inventories. Consensus sees inventories rising 0.6% in January after gaining 1.0% in December.
Earnings

Monday

ABM Industries

Casey General Stores

Giant Interactive

Perfect World

Quanex Building Products

VeriFone

Walgreen (monthly)

Tuesday

AeroVironment

Analogic

Dick’s Sporting Goods

Liberty Mutual

Pandora Media

Shuffle Master

Stage Stores

United Natural Foods

Vail Resorts

Wednesday

AFC Enterprises

American Eagle Outfitters

Bon-Ton Stores

Brown Shoe

Brown-Forman

Canadian Solar

Children’s Place

Ciena

Coldwater Creek

Express

Fresh Market

H&R Block

Hot Topic

Hovnanian

Korn/Ferry

Maidenform Brands

Men’s Wearhouse

Pall

Semtech

Sigma Designs

Stewart Enterprises

Thursday

A123 Systems

Aeropostale

Buckle

Comtech Telecom

Cooper Cos

Dynegy

Hi-Tech Pharmacal

Home Inns & Hotels

JinkoSolar

John Wiley & Sons

Kirkland’s

McDonald’s (monthly)

Navistar

Quiksilver

Renren

Rite-Aid (monthly)

Smith & Wesson

Smithfield Foods

Stein Mart

Suntech Power

Ulta Salon

Williams-Sonoma

WuXi PharmaTech

Zumiez

Friday

Ann

Citi Trends

Del Monte Foods

Hibbett Sports

Next Week's Tape

[admin]

Le DJ subio 0.04$ esta semana.

Data Points: U.S. Markets.

By MarketBeat Staff

Dow Industrials, down 5.38 points this week, or 0.04%, to 12977.57.
Today, it is down 2.73 points, or 0.02%.
Today’s top contributors to the Dow’s movement and their point contribution: IBM (9.69), UTX (2.88), JPM (1.97), MCD (1.89), T (1.82).
Today’s laggards and their point contribution: CAT (-6.81), AXP (-4.39), XOM (-3.78), KO (-3.18), TRV (-3.10).

Nasdaq Composite, up 12.44 points this week, or 0.42%, to 2976.19.
Up 72.31 points, or 2.49%, over the last three weeks.
Today, it is down 12.78 points, or 0.43%.

S&P 500, up 3.89 points this week, or 0.28%, to 1369.63.
Up 26.99 points, or 2.01%, over the last three weeks.
Today, it is down 4.46 points, or 0.32%.

[admin]

BP llega a un acuerdo, pagara $7.8 billones por danios del derrame de petroleo en el Golfo de Mexico.