Tuesday, February 26, 2013

27/02/2013 stocks news

BIG BOSS

Yesssssssss

Earliest available forecasts by a couple of international models suggest ‘normal start’ to South-West monsoon for India this year.

The European Centre for Medium-Range Weather Forecasts (ECMWF) sees normal to slightly above normal rainfall pattern across regions.

The European and US agency forecasts differed only in the respective assessment of deviation from normal rainfall trend.

Central India (Maharashtra, Andhra Pradesh and parts of Karnataka) is likely to witness above normal rain. The ECMWF forecast was updated as on date while the comparable forecast from the US agency was dated last month.

US agency considered here is International Research Institute (IRI) for Climate and Society at Columbia University. The IRI said highest probabilities point to ‘little deviation from the normal pattern of rainfall’ witnessed for India through the season.

Tokyo stocks opened sharply higher Monday, with the Nikkei Stock Average jumping 178 points to start the day in the upper-11,500 range, the highest level since Sept. 29, 2008.

The Nikkei reported before the bell that the government will likely appoint Haruhiko Kuroda as the next governor of the Bank of Japan. Kuroda, who now serves as the president of the Asian Development Bank, favors the introduction of bold monetary easing steps. The report prompted investors to buy stocks, while the yen depreciated.

Prime Minister Shinzo Abe and U.S. President Barack Obama met in Washington Friday. They confirmed that Japan will participate in talks on the Trans-Pacific Strategic Economic Partnership, which pushed up the benchmark index.

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