New fall of the Spanish industrial production in August

Industrial production in Spain fell again in August by 13.1% year on calendar corrected figures, announced Monday the National Statistics Institute (INE).
The Spanish economy is mired in a recession since late 2008, and since October 2008, the Spanish industrial production has fallen every month more than 10% year with a record of -24.7% in March, the biggest drop since the statistical series beginning in 1992.
In July, had fallen by 17.4%, following a decrease of 16.2% in June.
The production of consumer goods fell 9.3% (-35.1% to -6.5% and lasting for perishable), the capital goods 13%, while that of intermediate goods fell 19.6%. For energy, the drop was from -6.9%
On average, in the first eight months of the year, production fell by 19.7% year on calendar corrected figures.

European Bank capital expanded by 78,000 mln dlr

Investment bank JP Morgan expects European banks to extend capital in the next six months by 78,000 million, to comply with the recommendations of the Basel II capital.
JP Morgan said that European banks seem to focus on obtaining a structural capital ratio of 8 percent.

Scheduled broadcasts include 38,000 million dollars to restore public support and 40.000 million in new funds to strengthen balance sheets.
The enlargements of Commerzbank, Allied Irish Bank, Bank of Ireland and Societe Generale will represent about 52 percent of the 78,000 million, JP Morgan said.

Dollar operates under pressure after G-7, hit by rising shares

The dollar weakened on Monday after a meeting of the G7 over the weekend reaffirmed the view that market officials are comfortable with a gradual fall of the dollar.
This trend was encouraged by the resilience of global equity markets.
The biggest beneficiary was the Australia dollar, which was also boosted by the growing speculation that the Reserve Bank of Australia this week could raise interest rates, becoming the first major economy to adjust liquidity.
Global stocks were held on Monday despite a weak U.S. jobs report that was disclosed on Friday.
The weak jobs data suggest that U.S. monetary policy will remain very flexible, encouraging traders to buy currencies perceived as more risky assets like stocks as well.

"The risk was recovered strongly enough (...) and that leads to a general weakening of the dollar today. The market wants accumulate 'risk positions' again," said Geoff Kendrick, currency strategist at UBS in London."The G-7 may have been a red light (to sell dollars), but no change," he added.
Following a meeting of finance chiefs from Group of Seven held in Istanbul, traders were betting on a further weakening of the dollar, which serves to resolve imbalances between consumers and indebted countries like the U.S., and producing nations and saving like China.
At 1044 GMT, the dollar index, a measure of performance of the currency against six major currencies, fell 0.25 percent to 76.85.

The euro rose 0.4 percent to $ 1.4620, supported in part by a gain of 0.4 percent in European equities, while stock futures in the United States totaled 0.5 percent.The euro recovered after falling below $ 1.45 on Friday when it was announced that nonfarm payrolls fell by U.S. 263,000 in September, prompting a wave of dollar buying as a safe haven.
The market was also the expectation of monetary policy announcements made on Thursday the European Central Bank (ECB) and Bank of England.

Brazil Industrial Production up 1.2 percent in August vs July

Industrial production in Brazil rose in August by 1.2 percent from July, seasonally adjusted, the eighth consecutive month of monthly gain, said Friday the Brazilian Institute of Geography and Statistics (IBGE).
The market was waiting for a production increase of 0.8 percent, according to the median forecast of 20 analysts polled by Reuters. Forecasts ranged from 0.2 percent reduction and a 1.8 percent expansion.
Faced with the same month of 2008, Brazilian industrial production in August shrank 7.2 percent.
The fall was smaller than the 7.5 percent resulted from the median forecast of 27 analysts in comparison ineranual, which varied between 6.2 and 9.1 percent shrinkage.

Widespread declines in Hong Kong with HSBC to head

The Hong Kong Stock Exchange closed today with a fall of 2.77 percent in the benchmark Hang Seng and HSBC, the main weight of the parquet, and other leading financial downturns.

The benchmark index gave up 579.76 points to stand at 20,375.49, with all components, except FIH (which ended unchanged) shutting down.
The trading volume stood at 56.924 million Hong Kong dollars, equivalent to about 7,300 million dollars, or about 5,000 million.
The four sub-indices ended being down with the financier who closed the worst, with a drop of 956.40 points or 2.92 percent to stand at 31,777.49 points.

In this sector, shares of HSBC played down 3.73 percent, to $ 86.55 in Hong Kong, ICBC's lost by 2.57 percent, to 5.69 and those of HKEx fell 4, 56 percent, to 134.10.
The property subindex dismissed 778.41 points, or 2.87 percent to stand at 26,361.76 points.
In this sector, the choices of Henderson Land lost 4.71 percent, to $ 48.60 in Hong Kong, those of SHK Properties fell 3.42 percent, to 110.30 and Cheung Kong subtracted 3.15 percent, to 95.25.

The commercial and industrial sub-index fell 292.36 points, or 2.69 percent, after which stayed 10,566.54 points and the service fell 1.49 percent, or 571.46 integers, to 37,861.42.
In these sectors, the values of China Mobile lost 2.12 percent, to $ 74 Hong Kong, PetroChina fell 2.74 percent, to 8.52 and those of Li & Fung fell 4, 64 percent, to 29.80.

Among the components of services, China Res Power fell 3.22 percent, to 17.44.Outside the Hang Seng Index "H", which groups major Chinese state-owned, registered a drop of 331.83 points, or 2.80 percent, to 11,526.32 integers.