Todays market - 30th November

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More Market News and Views 29th November

An Alternative view of the Markets

Market News and Views

The FTSE 100 is called to open higher this morning helped by the Irish 85bn euro deal with the European Union although concerns remain over others in the euro zone such as Portugal and Spain. The Korean situation is another ongoing factor the markets will have to contend with. Overnight we had domestic data showing that house prices fell 0.8% on the month and were 1.1% lower on the year, the largest annual decline in nearly a year according to Hometrack. A separate survey from the CBI also reported a surprise fall in business volumes by consumer companies in the 3 months to November as Britons cut back on leisure and other discretionary spending. Later in the session we will have the Autumn Forecast Statement from the Office for Budget Responsibility.

Today's Company announcements

BAE Systems Acquisition. It is paying AUD$24m to acquire stratsec.net Pty Ltd, an information security company. The deal is conditional amongst other things, on regulatory approval and is expected to close in Q4 2010.

BP Disposal. It has agreed to sell its interests in Pan American Energy, an Argentina-based oil and gas company to Bridas Corporation for $7.06bn in cash for BP's 60% interest. The deal is expected to be completed in 2011 and is part of BP's plan to make asset divestments of up to $30bn by the end of 2011.

Markets Summary	Previous	Change
FTSE 100	5668.70	-30.23
FTSE 250	10809.43	-25.61
Dax	6848.98	-30.68
Dow Jones	11092.00	-95.28
Nasdaq	2534.56	-8.56
S&P	1189.40	-8.95
Hang Seng	23047.30	170.05
Nikkei	10125.99	86.43

Commodities Summary	Previous	Change
Oil	86.10	0.34
Gold	1362.64	5.56
Silver	26.78	0.13

Currency Summary	Previous	Change
£/$	1.5620	0.0025
€/$	1.3244	-0.0037
$/¥	84.05	0.0250
£/€	1.1788	0.0014

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Exchange rates 29th November

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Todays Markets 29th November

                                                                        Ones to watch......

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Today's headlines 26th November

Today's headlines

*ICE ECX may amend 2013 CER contract over EC curbs
*EC offset proposals spark CER sell-off
*Meth panel probe could hit pre-2013 CER supply
*Swiss eye more offset purchases
*Market slams January 2013 start date for EC ban
*EC seeks ban of HFC 23, adipic acid offsets from Jan 2013
*Swedish agency to buy post-2012 CERs
*NZUs edge upwards
*Panel in support of HFC 23 issuance methodology revision: Reuters

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Mitsubishi and Baosteel Group carbon credits

Japan’s Mitsubishi and China’s Baosteel Group will cooperate on generating carbon credits.

Mitsubishi, Japan’s biggest trading house, and Baosteel, a major Chinese steelmaker, have agreed to form a strategic environmental alliance, a Mitsubishi spokesman confirmed to Point Carbon News on Wednesday.

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Hungary fossil-based power up 11%, Slovakia down 7%

CO2 emitting power generation soared in Hungary, but plunged in Slovakia in the first nine months.

Fossil-fuel based electricity production rose 11 per cent to 12,978 GWh in Hungary in the first nine months of the year, according to preliminary government data.
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