Hints and tips:
...Thus, more than a century after the first Ford motor car rolled off the assembly line, there are now more than 1bn cars on the planet....
...Cantor Fitzgerald will launch a corporate advisory business in London as part of its attempts to bolster its presence in Europe after going on a hiring spree (Financial Times)....
...General Motors is to sell its global steering business, formerly owned by supplier group Delphi, to Beijing-based Pacific Century Motors in one of the biggest sales of an auto-parts business to a Chinese...
...“It’s a landmark,” said Marc Pado, US market strategist at Cantor Fitzgerald. “It makes for good headlines and positive feelings, which is very important at this time of year....
...In spite of vehicle sales rising 17 per cent on an unadjusted basis in August, shares in Ford Motor fell 4.7 per cent to $7.24 since the results missed forecasts....
...back what was lost during the irrational falls in February when people were talking about bank nationalisations and the collapse of the financial system,” said Marc Pado, chief market strategist at Cantor Fitzgerald...
...“Citi said it would pass those parameters weeks ago, and they are considered to be one of the worst of the worst,” said Marc Pado, chief market strategist at Cantor Fitzgerald....
...General Motors jumped 32.4 per cent to $1.92 after the United Auto Workers Union agreed to cut its labour costs and changed the terms of $20bn in debt for retiree healthcare....
...Marc Pado, chief investment strategist at Cantor Fitzgerald, said: “The G20 really achieved something in November when they agreed to work towards financial stability....
...Insolvency experts say a possible Chapter 11 filing for General Motors would likely be protracted – lasting at least a year – and could provide a blow to markets....
...Marc Pado, strategist at Cantor Fitzgerald, said: “The real tell-tale sign is whether investors come back [into the market] in the first two weeks of January.”...
...“This is exactly what the market wanted to see”, said Marc Pado, chief market strategist at Cantor Fitzgerald....
...Other than AIG, the insurer bailed out by the US government, General Motors was the worst performer on the Dow, off 87.4 per cent for the year....
...Sales at Japanese rivals such as Toyota Motor , Hondaand Nissan were expected to be higher....
...Marc Pado, chief market strategist at Cantor Fitzgerald, said the results showed consumers were still going to the shops....
...General Motors fell6.1 per cent after it was forced to write down the value of future tax benefits and posted a record quarterly loss....
...Alcoa , the aluminium group, fell 1.4 per cent to $33.67 while General Motors was 2.9 per cent down at $31.24....
...Marc Pado, chief market strategist at Cantor Fitzgerald, said that as the rally had been consumer-driven, there might have been less momentum after Easter....
...“The subprime sector alone is not the issue,” said Marc Pado, chief market strategist at Cantor Fitzgerald. “The concern is that this problem spreads – and that is a big if.”...
...“Long-term investors should pull up a lawn chair and enjoy the fireworks,” said Marc Pado, chief market strategist at Cantor Fitzgerald....
...“The market was set up for a bout of profit taking this week, it just required a catalyst,” said Marc Pado, chief market strategist at Cantor Fitzgerald....
...“Any moves will play out in S&P futures,” said Marc Pado, chief market strategist at Cantor Fitzgerald. “Unless there is a dramatic result, there should be little impact for stocks.”...
...“The market has been brought a long way over the past 14 weeks and we now require a compelling signal to spark further gains,” said Marc Pado, chief market strategist at Cantor Fitzgerald....
...The revival in the fortunes of stock in General Motors and Ford moved apace after analysts at Deutsche Bank lifted their recommendation to buy on the two struggling carmakers....
...Similarly, two years ago the financial industry received a shock when General Motors, the US car group, was downgraded – a move that left the price of financial assets gyrating in relation to each other...
International Edition