Monday, August 27, 2007

Market Update

Very bullish markets across Asia and Europe.Hong Kong soared 2.9% to new highs along with China. The markets here in the US are pointing to a lower open though I would expect a rally.

US Steel is buying Canada's Stelco as the steel industry under goes further consolidation. This should boost steel and other metals stocks today.

The other big merger news today is Gateway being bought out by Acer of Taiwan.Finally some good news for GTW shareholders who have suffered for a very long time.

August saw the biggest insider buying activity among executives of financial firms since 1995. Banks, mortgage lenders and insurance companies have been hit hard by recent market turmoil and the insider buying is an expression of confidence about their respective businesses.

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