Euro Zone Sees Signs of Progress; RIM Surges to a 13-Month High (RIMM)
Across the globe important policy meetings were scheduled for Monday, including talks between euro zone ministers and a two-day policy meeting for the Bank of Japan. Greece was given the green light for a new loan payment of 9.2 billion euros this month to aid both Greek banks and the government. Ahead of the BOJ's meeting the yen rebounded after hitting a two-and-a-half year low against the dollar last week. Research in Motion (RIMM) is closing in on a launch of their newest products and shares surged after news that the Blackberry maker is considering strategic alliances after its upcoming release.Atari US filed for bankruptcy in an effort to split from its French parent company. Canada's main stock index climbed close to an eleven-month high after the positive news from RIM and ahead of the House vote this week for a debt ceiling extension. In the US the markets were closed due to today's Martin Luther King Jr. holiday and President Obama's welcoming into his second term during the 2013 Inauguration in Washington.
Word on the Street
- Citigroup (C) cuts its forecast for the price of gold in 2013 and 2014.
- Oil futures retreat from four-month high ahead of euro zone meeting of finance ministers on Monday.
- Atari US files for bankruptcy but will seek buyers for some if its assets.
- Bank of Japan holds crucial meetings about the future of the yen.
- Research in Motion (RIMM) sees shares surge to a thirteen-month high after talk of strategic alliances.
- Intel (INTC) plunges after posting bleak outlook, confirming investors' fears.
Published on Jan 21, 2013By InvestorGuide Staff