14 10 / 2011
UK Stocks-Factors to watch on Oct. 14
The blue-chip index looked set to gain 15-18 points, or as much as 0.3
percent, according to financial bookmakers, after it closed 38.42 points, or 0.7
percent, lower at 5,403.38 on Thursday, having struggled of late to push above
technical resistance at the 5,450 level.Stock gains over the previous week have, in the main, been attributed to
euro zone politicians making more positive comments about shoring up the
region’s battered banking sector and finding a solution to the debt crisis.Commentators remain to be convinced, saying firmer actions, not just words,
were needed to sustain the recent advance.”The real decision that investors have to make at this time is whether the
current rally is being driven by short-covering or new buying. Since volume was
thin on the rally then odds are it wasn’t buying,” said James Hyerczyk, analyst
at Autochartist.No British data will be released on Friday, so investors’ economic focus
will be across the Atlantic.September U.S. retail sales will be released at 1230 GMT, with a 0.7 percent
monthly rise forecast after being flat in August. U.S. September import and
export prices were due at the same time.The first reading of October’s Michigan consumer
sentiment index is due at 1355 GMT, with a reading of 60.2 forecast, up from
59.4 in September.
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13 10 / 2011
UPDATE 1-SEC tells companies to disclose cyber attacks
By Jim Finkle and Sarah N. LynchBOSTON/WASHINGTON, Oct 13 (Reuters) - U.S. securities
regulators on Thursday issued guidelines for public companies
to follow in disclosing cyber attacks following a rash of
Internet crimes that caused lawmakers to call for clearer
guidance on reporting the crimes.The guidance, posted late on Thursday by the U.S.
Securities and Exchange Commission, lays out examples of things
that companies may be required to disclose. The guidance comes
after Senator John Rockefeller asked the SEC to issue it amid
concern that companies were failing to mention data breaches in
public filings.The SEC said in its guidance that if a cyber event occurs
and leads to losses then companies should “provide certain
disclosures of losses that are at least reasonably possible.”“Intellectual property worth billions of dollars has been
stolen by cyber criminals, and investors have been kept
completely in the dark. This guidance changes everything,”
Rockefeller said in a statement.”It will allow the market to evaluate companies in part
based on their ability to keep their networks secure. We want
an informed market and informed consumers, and this is how we
do it,” Rockefeller said in a statement.Tom Kellermann, chief technology officer of security firm
AirPatrol Corp., said that the guidance tells companies to
report cyber attacks and disclose steps to remediate problems.”They must also incorporate cyber events into their
material risk reports,” said Kellermann, who has advised U.S.
President Obama on cyber policy.There is a growing sense of urgency following breaches at
Google Inc , Lockheed Martin Corp , the
Pentagon’s No. 1 supplier, Citigroup , the International
Monetary Fund and others.A report out earlier this month found that U.S. banks are
losing ground in the battle to combat credit and debit card
fraud because they balk at the expense of higher security.
Globally, however, security is improving in the payment
industry, according to data from The Nilson Report, a
California trade publication.There is some hope of U.S. legislation to address the
problem, although the House of Representatives appears more
interested in tackling it piecemeal while the Senate is opting
for a more far-reaching approach.Most of the concern has been focused on critical facilities
like nuclear power, electricity, chemical and water treatment
plants.
Permalink 43 notes
13 10 / 2011
UPDATE 1-SEC tells companies to disclose cyber attacks
By Jim Finkle and Sarah N. LynchBOSTON/WASHINGTON, Oct 13 (Reuters) - U.S. securities
regulators on Thursday issued guidelines for public companies
to follow in disclosing cyber attacks following a rash of
Internet crimes that caused lawmakers to call for clearer
guidance on reporting the crimes.The guidance, posted late on Thursday by the U.S.
Securities and Exchange Commission, lays out examples of things
that companies may be required to disclose. The guidance comes
after Senator John Rockefeller asked the SEC to issue it amid
concern that companies were failing to mention data breaches in
public filings.The SEC said in its guidance that if a cyber event occurs
and leads to losses then companies should “provide certain
disclosures of losses that are at least reasonably possible.”“Intellectual property worth billions of dollars has been
stolen by cyber criminals, and investors have been kept
completely in the dark. This guidance changes everything,”
Rockefeller said in a statement.”It will allow the market to evaluate companies in part
based on their ability to keep their networks secure. We want
an informed market and informed consumers, and this is how we
do it,” Rockefeller said in a statement.Tom Kellermann, chief technology officer of security firm
AirPatrol Corp., said that the guidance tells companies to
report cyber attacks and disclose steps to remediate problems.”They must also incorporate cyber events into their
material risk reports,” said Kellermann, who has advised U.S.
President Obama on cyber policy.There is a growing sense of urgency following breaches at
Google Inc , Lockheed Martin Corp , the
Pentagon’s No. 1 supplier, Citigroup , the International
Monetary Fund and others.A report out earlier this month found that U.S. banks are
losing ground in the battle to combat credit and debit card
fraud because they balk at the expense of higher security.
Globally, however, security is improving in the payment
industry, according to data from The Nilson Report, a
California trade publication.There is some hope of U.S. legislation to address the
problem, although the House of Representatives appears more
interested in tackling it piecemeal while the Senate is opting
for a more far-reaching approach.Most of the concern has been focused on critical facilities
like nuclear power, electricity, chemical and water treatment
plants.
Permalink 42 notes
12 10 / 2011
Singapore Stocks-Up slightly at midday; Wanxiang surges
By Charmian KokSINGAPORE, Oct 12 (Reuters) - Singapore shares recovered its
earlier losses and were slightly higher by midday on Wednesday,
tracking gains in Hong Kong and China stocks on hopes Slovakia
will pass a key vote later this week to expand the euro zone’s
rescue fund.At 0500 GMT, the Straits Times Index (STI) was up
0.28 percent, or 7.59 points, at 2,700.64. Around 534.2 million
shares worth S$489.8 million were traded, lower than the 790.2
million shares worth S$763.3 million that changed hands by the
same time on Tuesday.Local traders said they expected the STI to trade in a
narrow 2,680-2,720 band for the rest of the session.”Markets didn’t react too badly to the news from Slovakia,
and investors seem to believe it will get passed later this
week. But we may see some nervous trading prior to the second
vote and if that stumbles again, we could see a more negative
reaction,” said John Hughes, head of premium client management
at IG Markets.Slovakia’s parliament brought down the government on Tuesday
by rejecting a plan to expand the euro zone’s rescue fund, but
the outgoing government said it hoped to pass the measure by the
end of the week with opposition support.”The markets are taking a break and consolidating its recent
gains, and waiting for fresh impetus on news out of the euro
zone or on U.S. corporate earnings,” Hughes said. He expects the
STI to trade in a tight range for the rest of the week.Offshore services firm Swiber Holdings Ltd rose as
much as 4 percent after the company won two orders worth a total
of $102 million for offshore construction projects involving
pipeline and subsea installation works in Southeast Asia.Chinese firm Wanxiang International Ltd , which
makes synthetic and natural flavours and fragrances, soared 44
percent to S$0.20 after its majority shareholder made a bid to
take the firm private.Wanxiang said on Tuesday its majority owner offered to buy
the remaining shares it does not own at S$0.20 each.Shares of China XLX Fertiliser Ltd rose 5.7
percent to S$0.28 after DBS Vickers upgraded the stock to buy
from fully valued, and raised its target price to S$0.40 from
S$0.34.DBS Vickers said it expects China XLX’s third quarter net
profit to surprise on the upside and record a 200 percent
year-on-year growth for the period, on the back of higher
margins.
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