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	<title>CBS Investment &#187; Stock Exchange</title>
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		<title>Coping with Rising Costs &#8211; Online Investment Options</title>
		<link>http://www.cbsinvestment.com/coping-with-rising-costs-online-investment-options/</link>
		<comments>http://www.cbsinvestment.com/coping-with-rising-costs-online-investment-options/#comments</comments>
		<pubDate>Tue, 03 Nov 2009 11:03:13 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Investment]]></category>
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		<category><![CDATA[market prices]]></category>
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		<category><![CDATA[Online Trading]]></category>
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		<category><![CDATA[Risk]]></category>
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		<category><![CDATA[Stock Exchange]]></category>
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		<guid isPermaLink="false">http://www.cbsinvestment.com/?p=445</guid>
		<description><![CDATA[Having a job and get salary from it usually not enough to cover up all of your expenses, especially if you have lots of debts and kids. People, who get trapped in this rat race, often try to figure the best way to escape it. The best idea that they could come up with is [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignright size-full wp-image-446" title="salary not enough" src="http://www.cbsinvestment.com/wp-content/uploads/2009/11/salary-not-enough.jpg" alt="salary not enough" width="200" height="200" />Having a job and get salary from it usually not enough to <a href="http://www.cbsinvestment.com/coping-with-rising-costs-online-investment-options/">cover up all of your expenses</a>, especially if you have lots of debts and kids. People, who get trapped in this rat race, often try to figure the best way to escape it. The best idea that they could come up with is by investing.</p>
<p>Investing could be done in many forms, such as in real estate, in building a business, or in the stock market. To make it easier to do the investment, most companies arrange that the investment could be done without leaving your own home. That&#8217;s the birth of online investment.<br />
<span id="more-445"></span></p>
<p>Online investment usually doesn&#8217;t have so much difference with the common <a href="http://www.cbsinvestment.com/tag/investment/">investment</a>. The major difference is you could do it at home with your computers and internet connection. The internet will allow you to explore some of the best <a href="http://www.cbsinvestment.com/coping-with-rising-costs-online-investment-options/">investment opportunities online</a>. You could also get some tips in online investing or advices from the experts.</p>
<p><img class="alignright size-medium wp-image-447" title="trading stocks or options" src="http://www.cbsinvestment.com/wp-content/uploads/2009/11/trading-stocks-or-options-300x200.jpg" alt="trading stocks or options" width="250" height="180" />If this is the first time you do the online investing, you need to know that you should start small. Starting small in any online businesses will allow you to research the opportunity deeper and figure the profits and loss ratio and find out the best way to dealing with it. After you comfortable with the small investment and you feel that you already have enough information about online investing at hand, you could increase your initial investment.</p>
<p>When you&#8217;re online, the easiest <a href="http://www.cbsinvestment.com/investment-options-for-better-retirement-planning/">investing opportunity</a> that you could find is trading stocks or options. You could get lots of tips from the online broker, and start building your portfolio. However, this is not the only way to online investing, you&#8217;re also could make some cash from auctioning stuffs online, selling your business products or services, and so on.</p>
<p>If you don&#8217;t have enough knowledge to start an online trading, you could go to mutual funds. This is the best choice for investors who doesn&#8217;t have enough expertise to deal with individual stocks or doesn&#8217;t have enough time to do the watching themselves. If you decide to have a mutual fund, make sure you&#8217;re not cash out the investment early. You need to build it until it&#8217;s solid and could give you <a href="http://www.cbsinvestment.com/individual-retirement-account-your-gold-eggs-during-retirements/">long-term profits</a>.</p>
<p>Just like any other broker firms, the online broker firms also have their own fees and charges. Make sure you choose the legitimate one before you use their service.</p>
<p><a href="http://www.cbsinvestment.com/wp-content/uploads/2009/11/stock-market-trading-online.jpg"><img class="alignright size-medium wp-image-448" title="stock market trading online" src="http://www.cbsinvestment.com/wp-content/uploads/2009/11/stock-market-trading-online-300x200.jpg" alt="stock market trading online" width="300" height="200" /></a>Doing the online trading yourself will require you some time to master it. You need to use your own time and brain to exercise, and your own tools to signaling you whether you need to get in or get out of the market. The are so many resources that you could find online that will teach you the right way to do the online investing and make some profits from it.</p>
<p>Unlike common investment, there are some problems that need to be addressed properly if you do the <a href="http://www.cbsinvestment.com/coping-with-rising-costs-online-investment-options/">online investing</a>. Some of them are your internet connection, the brokerage server or other natural disaster. This is inevitable since it&#8217;s the common problem that you&#8217;ll likely to face. If your internet connections having a problem make sure you could contact your online brokerage firm to tracking your online trading.</p>
<p>Online trading is just the same with a common one in the risk aspect. There is no guarantee that you could make profits from it or not. You need to find the right system that you could follow in order to make money in online trading.</p>
<div id="crp_related"><h3>Related Headlines:</h3><ul><li><a href="http://www.cbsinvestment.com/utilizing-the-virtual-trading-account-in-forex-trading/" rel="bookmark" class="crp_title">Utilizing the Virtual Trading Account in Forex Trading</a></li><li><a href="http://www.cbsinvestment.com/maximizing-your-portfolios-return-thru-investment-club/" rel="bookmark" class="crp_title">Maximizing Your Portfolio&#8217;s Return thru Investment Club</a></li><li><a href="http://www.cbsinvestment.com/investment-options-for-better-retirement-planning/" rel="bookmark" class="crp_title">Investment Options For Better Retirement Planning</a></li><li><a href="http://www.cbsinvestment.com/understanding-the-elements-in-gold-investment/" rel="bookmark" class="crp_title">Understanding the Elements in Gold Investment</a></li><li><a href="http://www.cbsinvestment.com/googles-creates-a-100-mln-fund-to-invest-in-next-the-great-idea/" rel="bookmark" class="crp_title">Google creates a $100 mln fund to invest in the &#8220;next great idea&#8221;</a></li></ul></div><div style='clear:both'></div>]]></content:encoded>
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		<title>Exchange Crises</title>
		<link>http://www.cbsinvestment.com/exchange-crises/</link>
		<comments>http://www.cbsinvestment.com/exchange-crises/#comments</comments>
		<pubDate>Thu, 16 Jul 2009 10:26:45 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Articles]]></category>
		<category><![CDATA[crises]]></category>
		<category><![CDATA[dollars]]></category>
		<category><![CDATA[economic mechanism]]></category>
		<category><![CDATA[Exchange]]></category>
		<category><![CDATA[Exchange Crises]]></category>
		<category><![CDATA[market]]></category>
		<category><![CDATA[market crisis]]></category>
		<category><![CDATA[market dealers]]></category>
		<category><![CDATA[Stock Exchange]]></category>
		<category><![CDATA[stock prices]]></category>

		<guid isPermaLink="false">http://www.cbsinvestment.com/?p=351</guid>
		<description><![CDATA[Exchange crises are a kind of reaction of the securities market on the excessive &#8220;swelling&#8221; of fictitious capital. One such crisis occurred in October 1987, when stock prices fell sharply on the stock markets of the capitalist countries. Thus, in comparison with the maximum level of August 25,1987, in October 19, 1987, they fell on [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><img class="size-full wp-image-352 alignleft" title="financial_crisis" src="http://www.cbsinvestment.com/wp-content/uploads/2009/07/financial_crisis1.jpg" alt="financial_crisis" width="324" height="237" />Exchange crises are a kind of reaction of the securities market on the excessive &#8220;swelling&#8221; of fictitious capital. One such crisis occurred in October 1987, when stock prices fell sharply on the stock markets of the capitalist countries. Thus, in comparison with the maximum level of August 25,1987, in October 19, 1987, they fell on the New York Stock Exchange at 36%, Tokyo &#8211; more than 20%, the Paris and London markets &#8211; at 35-40%, while the stock exchanges in Frankfurt-am-Main, Sydney and Hong Kong &#8211; even at 45-50%. Thus, the crisis was one of the strongest in the history of stock market crises. It turned out on &#8220;classical terms&#8221;, i.e. it occurred at the height of the economic recovery and lead to a reduction in fictitious capital, for example of U.S. corporations, at 550 billion dollars.<span id="more-351"></span></p>
<p style="text-align: justify;">The fall in equity prices will make some companies very vulnerable to absorption by stronger competitors. Companies &#8220;predators&#8221; have free capital and want to buy cheap shares. Therefore scared of the exchange crisis in 1987, fearing that their shares will be bought by competitors, many U.S. companies, whose share price has fallen, began a massive stock market repurchase of their own shares to preserve their independence. Among them were found even such giants as General Motors, Ford, Coca-Cola, IBM, etc. For many companies, a sharp devaluation of their shares meant bankruptcy.</p>
<p style="text-align: justify;">Historically, two methods of regulation of the <a href="http://www.cbsinvestment.com/what-is-a-stock-exchange/">securities market</a> were formed, by the State and by the dealers themselves. Prior to the crisis of 1929-33 the state practically did not interfere with the activities of stock exchanges. The crisis and the depression which followed it precipitated the formulation of government regulation of the stock market activities. So far, the law on securities in 1933 and a law on stock exchanges in 1934, remain the basic a document on which rests the state regulation of operations with securities.</p>
<p style="text-align: justify;">The key idea, which was the basis of the state interference in the <a href="http://www.cbsinvestment.com/what-is-a-stock-exchange/">activities of stock exchanges</a>, has been to maximize non-interference in the process of buying and selling stocks and bonds. A specific embodiment of this idea is found in the principle of &#8220;providing information&#8221;, on which post-crisis legislative acts are based. Their authors proceeded from the idea that, if the corporation will provide shareholders with detailed and reliable information about the activities of the company, it will automatically lead to the disappearance of the source of all evils on securities market, since the true value of stocks and bonds can be easily identified and their manipulation becomes impossible.</p>
<p style="text-align: justify;"><img class="alignright size-full wp-image-353" title="en_136_crisis_graph2articleimage" src="http://www.cbsinvestment.com/wp-content/uploads/2009/07/en_136_crisis_graph2articleimage1.png" alt="en_136_crisis_graph2articleimage" width="282" height="320" /></p>
<p style="text-align: justify;">But from the perspective of the society as a whole, stock crisis is only a return to a level that reflects the real situation in the economy. An exchange collapse normally gives rise to the coordination of all economic policy. As a result of a crisis is temporarily restored the relative compliance of processes, occurring in the real economy and in capital formation. However strange it may seem, but in this respect, exchange crises, destroying the &#8220;excess&#8221; of financial capital, perform a constructive function. Exchange crises have accelerated the development of joint-stock form of property; increasing the concentration of financial capital in the hands of a growing part of the securities, exacerbating the competition between the holders of the shares &#8220;for survival,&#8221; lead to the bankruptcy of enterprises and banks.</p>
<p style="text-align: justify;">Nevertheless, one can not help seeing that despite all their undeniable negative sides the crises are a prerequisite for the subsequent recovery of the economy. Stock crises, for example, lead to the replacement of backward corporations by advanced, more competitive, beat down the confusing demand for securities, remove from the securities market dealers who are prone to excessive risk, force to seek and introduce new forms and methods of operation of the exchange. (In particular, the stock market crisis of 1987, divided the western economists into supporters of two opposing points of view: some had the notion that stock markets are in need of strengthening the public management, the others remained confident that the market stabilization of the share capital may occur &#8220;naturally&#8221;, i.e. based on the natural mechanism of action within the exchange).</p>
<p style="text-align: justify;">For small shareholders stock market crises, of course, represent a formidable threat. But rejection of the stock market on the grounds that it is inseparable from speculation and crisis, would deny the economic mechanism a flexible and effective system of capital formation, making the investment process extremely difficult. The availability of the securities market contributes to the capitalization of the income of the members of society, greatly increasing the investment resources of the economy. At the same time, which is very important, there is a real decentralization of the investment process, which gives it the flexibility and dynamism necessary for restructuring of investments.</p>
<p style="text-align: justify;">Finally, the stock market is able to divert a significant portion of cash income of the population, thus reducing the demand for goods and services. This circumstance, which has a very mixed impact on the course of reproduction in developed capitalist countries, may have an important positive value in conditions of a scarce economy.</p>
<p style="text-align: justify;">
<p style="text-align: justify;">
<div id="crp_related"><h3>Related Headlines:</h3><ul><li><a href="http://www.cbsinvestment.com/what-is-a-stock-exchange/" rel="bookmark" class="crp_title">What is a Stock Exchange?</a></li><li><a href="http://www.cbsinvestment.com/general-motors-is-no-longer-alive/" rel="bookmark" class="crp_title">General Motors is no longer alive</a></li><li><a href="http://www.cbsinvestment.com/economy-crisis-the-united-states-asks-china-for-help/" rel="bookmark" class="crp_title">Economy crisis: the United States asks China for help</a></li><li><a href="http://www.cbsinvestment.com/is-the-crisis-not-over/" rel="bookmark" class="crp_title">Is the crisis not over?</a></li><li><a href="http://www.cbsinvestment.com/which-company-is-the-most-expensive-in-the-world/" rel="bookmark" class="crp_title">Which company is the most expensive in the world?</a></li></ul></div><div style='clear:both'></div>]]></content:encoded>
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		</item>
		<item>
		<title>What is a Stock Exchange?</title>
		<link>http://www.cbsinvestment.com/what-is-a-stock-exchange/</link>
		<comments>http://www.cbsinvestment.com/what-is-a-stock-exchange/#comments</comments>
		<pubDate>Thu, 09 Jul 2009 08:52:18 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Markets and Economy]]></category>
		<category><![CDATA[economic]]></category>
		<category><![CDATA[Exchange]]></category>
		<category><![CDATA[market]]></category>
		<category><![CDATA[Stock]]></category>
		<category><![CDATA[stock activities]]></category>
		<category><![CDATA[Stock Exchange]]></category>

		<guid isPermaLink="false">http://www.cbsinvestment.com/?p=340</guid>
		<description><![CDATA[Questions about what stock exchange is and what features are a part of its notion, of course, is primarily important for the legislation. There is a particular need for a legal definition and differentiation of various trade associations, because the economic importance and the effectiveness of the exchanges are just obvious (it is sufficient to [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><img class="size-full wp-image-341 alignleft" title="london_stock_exchange" src="http://www.cbsinvestment.com/wp-content/uploads/2009/07/london_stock_exchange1.jpg" alt="london_stock_exchange" width="288" height="269" />Questions about what stock exchange is and what features are a part of its notion, of course, is primarily important for the legislation. There is a particular need for a legal definition and differentiation of various trade associations, because the economic importance and the effectiveness of the exchanges are just obvious (it is sufficient to refer to the turnover of the Stock Exchange and compare it with the basic macroeconomic indicators of the economy of the state (e.g., GDP)). It is also apparent that the stock exchange is a subject of managing and leads business activities (stock activities), mediating between buyers and sellers. In this regard, the Exchange has some, but quite specific, rights and responsibilities. The specificity of the rights and obligations is attributable to the same economic isolation and the importance, and consequently to the supervision of the state. Considering all the above, we will try by logical arguing, to define the term &#8221; stock exchange&#8221; and point to major differences between the stock exchange and the market.<span id="more-340"></span></p>
<p style="text-align: justify;">In practice, the term &#8220;exchange&#8221; refers primarily to the building, then to the time (Exchange continues from twelve to three), and finally, to a special kind of market. Exclusively with the latter definition, we will deal in the future.</p>
<p style="text-align: justify;">First, one might argue that any stock exchange trade is a trade of replaceable values, and that in exchange hall there are no goods or money. However, markets are not limited to the valuables; there are exchanges, which make their operation in freight (such as the ship-exchange in Ruhrort). In addition, there is also a question related to whether the sale of samples, very often occurring at all stock exchanges, is related to the trade of replaceable values. Secondly, speculation can be described as a characteristic feature of Exchange. However, there is also speculation outside the Exchange. Then we can say that the Exchange is committed to facilitating the trade of goods and securities. This is certainly true, but railroads and many other institutions also serve these purposes, but are not stock exchanges. It is necessary to find other characteristic features of exchanges, distinguishing their traits in comparison with markets.</p>
<p style="text-align: justify;">When people talk about a market, developed before exchange, first and foremost a regular meeting of parties with the purpose of transacting business, happening in a certain place and at certain times, is meant. Place and time – are constant, the parties and operations may vary. Anywhere, where there are no such meetings in a certain place and at a certain time, there can be no question of exchange. The difference between the exchange and the market is mainly in the following three points:</p>
<p style="text-align: justify;">1. In the convertibility of listed on the <a href="http://www.cbsinvestment.com/what-is-a-stock-exchange/">stock exchange</a>, but absent items</p>
<p style="text-align: justify;">2. The existence of organization in the exchange, in contrast to the free market</p>
<p style="text-align: justify;">3. The existence of formal fixed rates and quotations in the exchange.</p>
<p style="text-align: justify;">
<p style="text-align: justify;">Everywhere, where one of these features is missing, it is not an exchange in the stated sense, but rather a market or intermediate levels. Let us analyze in detail the three distinctive traits.</p>
<p><img class="alignright size-full wp-image-343" title="glasgow-stock-exchange1" src="http://www.cbsinvestment.com/wp-content/uploads/2009/07/glasgow-stock-exchange11.jpg" alt="glasgow-stock-exchange1" width="350" height="233" /></p>
<p style="text-align: justify;">The essence of the Exchange is that it is a special kind of market where trade replaceable values is carried out, while these values and charges for them are not present. What is a replaceable value? This quality is due to the nature of the goods comprising the subject of trade. For example, in the market you buy a particular horse, some flowers, a piece of meat. A hostess buys products of certain quality and class. All these things are there, to examine them in detail. No one buys a pig in a poke. This is followed by the payment and transfer. The characteristic feature of the market is, therefore, in the presence of buyers and sellers, money and goods. At the stock exchange others are often presented, mostly traders. Initially, there were producers and consumers, but they were gradually superseded by merchants. Trading on the stock exchange is not on a physically presented particular product i.e. on the kind of a product, when a bag of rye can be replaced by another of equal quality. Hence the conclusion, that all the goods on the market can be substituted or replaced. The convertibility of goods traded on the exchange leads to one very important consequence: the securities or commodities circulating, i.e., sold or bought on the market may be missing. This fact creates a huge advantage for trade and exchange. The presence of the goods would bring the exchange back into a state of market and the transactions would have been brought up to its size.</p>
<p style="text-align: justify;">Of the convertibility of goods and values, derives the second investigation. Securities or commodities should not be there at the time of purchase, they should not even be available to the owner. These operations form the basis of a stock market speculation. It is based on the fact that each purchase can be compensated with the sale and every sale with a purchase. Or, for example, on the sugar market, the transactions may be concluded for the delivery of sugar supply, when the beets, from which this sugar would be received, were still sown.</p>
<p style="text-align: justify;">The second distinguishing feature of Exchange is the organization. The Exchange is an organized market, i.e. there are bodies for certain functions related to the management, maintenance of order, bringing the exchange transactions to norms, etc. Market does not know such a device. The only body that has the market is the maintenance of order. Sellers and buyers in the market represent a great unorganized mass. But wherever the market rises to the level of exchanges, there appear bodies. However, these bodies are not always the same. Each market has its own organizational structure, but all have at least the stock exchange committee &#8211; the chief and the supreme body of the Exchange.</p>
<p style="text-align: justify;">Apart from a clear organizational structure each market also uses the principle of self-regulation, i.e. has inner-Exchange regulations, which are the basis of exchange activity of a specific exchange. These include the Memorandum, Articles of Association and Rules of the trading process.</p>
<p style="text-align: justify;">In the Memorandum are listed the founders of the Exchange, the purpose of its creation and the means of achieving the stated objectives is determined; it is responsible for the obligations of the founders of the Exchange, the initial size of the  statutory fund, its division into shares and how they distributed between the founders, the rights and responsibilities of the founders, the allocation of profits and the establishment of contingency fund, sets out the terms of the termination of the Exchange, indicating the location and details of the Exchange.</p>
<p style="text-align: justify;"><img class="alignnone size-full wp-image-344" title="1196887128m1zp7b" src="http://www.cbsinvestment.com/wp-content/uploads/2009/07/1196887128m1zp7b1.jpg" alt="1196887128m1zp7b" width="195" height="245" /></p>
<p style="text-align: justify;">As a rule, the Charter of the Exchange includes the following sections:</p>
<p style="text-align: justify;">1. general provisions;</p>
<p style="text-align: justify;">2. creating exchanges;</p>
<p style="text-align: justify;">3. activities of stock exchanges;</p>
<p style="text-align: justify;">4. size, order of formation and change of the authorized capital, funds and profit exchanges;</p>
<p style="text-align: justify;">5. rights and duties of members of the Exchange;</p>
<p style="text-align: justify;">6. management of exchange;</p>
<p style="text-align: justify;">7. accounting and reporting exchanges;</p>
<p style="text-align: justify;">8. termination of the Exchange.</p>
<p style="text-align: justify;">
<p style="text-align: justify;">The Rules of the auction reflect the issues such as the participants of exchange trading, and their order, exchange of goods, the order of their setting out and withdrawal from trades; stock transactions, their types, the order of registration, legalization, dissolution, and the recognition of their invalidity; settlement of disputes and sanctions for the violation of the rules of exchange trade.</p>
<p style="text-align: justify;">Stock exchange is an organization with the aim not only to trade in replaceable values, but also the pricing. Pricing on the exchange takes place regularly, and under common control, i.e. behind the authority of the whole assembly or the executive committee. Where there is no such official quotation of prices, there is no exchange.</p>
<p style="text-align: justify;">Now we can define the notion of stock exchange. Stock exchange is an organized market to trade in convertible values on which the process of pricing runs under public control. The objectives of the Exchange are not to supply the economy with raw materials, capital, currency, but the organization, regulation, standardization of commodity, capital and currency markets.</p>
<div id="crp_related"><h3>Related Headlines:</h3><ul><li><a href="http://www.cbsinvestment.com/exchange-crises/" rel="bookmark" class="crp_title">Exchange Crises</a></li><li><a href="http://www.cbsinvestment.com/oil-prices-went-down-sharply/" rel="bookmark" class="crp_title">Oil prices went down sharply</a></li><li><a href="http://www.cbsinvestment.com/general-motors-is-no-longer-alive/" rel="bookmark" class="crp_title">General Motors is no longer alive</a></li><li><a href="http://www.cbsinvestment.com/the-price-of-gold-has-fallen-to-its-minimum-on-comex/" rel="bookmark" class="crp_title">The price of gold has fallen to its minimum  on COMEX</a></li><li><a href="http://www.cbsinvestment.com/which-company-is-the-most-expensive-in-the-world/" rel="bookmark" class="crp_title">Which company is the most expensive in the world?</a></li></ul></div><div style='clear:both'></div>]]></content:encoded>
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		<title>Eurobonds and the negative pressure from the United States</title>
		<link>http://www.cbsinvestment.com/eurobonds-and-the-negative-pressure-from-the-united-states/</link>
		<comments>http://www.cbsinvestment.com/eurobonds-and-the-negative-pressure-from-the-united-states/#comments</comments>
		<pubDate>Fri, 19 Jun 2009 08:41:32 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Investment]]></category>
		<category><![CDATA[Eurobonds]]></category>
		<category><![CDATA[market]]></category>
		<category><![CDATA[Stock Exchange]]></category>

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		<description><![CDATA[Following the European stock exchange and commodity market quotes sovereign Eurobonds significantly &#8220;proseli at auction on Wednesday, June 17. Price issuance Russia-30 (YTM 7.75 per cent) decreased by about 1 percentage point &#8211; Up to 98.5 per cent of the nominal value. In doing so, its spread to UST has become more than 400 bp [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="text-align: justify;">Following the European stock exchange and commodity market quotes sovereign Eurobonds significantly &#8220;proseli at auction on Wednesday, June 17. Price issuance Russia-30 (YTM 7.75 per cent) decreased by about 1 percentage point &#8211; Up to 98.5 per cent of the nominal value. In doing so, its spread to UST has become more than 400 bp for the first time since late May, noted MDM Bank.</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Significant changes in Russian corporate bonds are not observed. The negativity of the United States is continuing to push on the market, but the correction has only been viewed in the long segment of the curve Eurobonds, notes Promsvyazbank.</span></p>
<p class="MsoNormal" style="text-align: center;"><img class="aligncenter size-full wp-image-223" title="article33-1" src="http://www.cbsinvestment.com/wp-content/uploads/2009/06/article33-11.jpeg" alt="article33-1" width="250" height="200" /><span id="more-222"></span></p>
<p class="MsoNormal" style="text-align: justify;">According to the IC &#8220;Troika Dialog&#8221;, Eurobonds of oil and gas sector fell against the backdrop of falling oil prices on Wednesday. For example, TNK-BP &#8211; 17 dropped to 80.75, while TNK-BP &#8211; 18 &#8211; to 85.25.<span> </span>The price of the recently posted release RSHB-14 (9 per cent) decreased to 101.25, compared with the level of 101,750-101,875 observed a few days earlier. Eurobonds of &#8220;Vympelcom&#8221; continued to decline, increasing the losses which had incurred in the previous three days. VimpelCom-16 dropped to 87.50. The price of VimpelCom-18 also fell &#8211; to 87.50. Evraz-13 dropped in price to 80.375; however, as it is supported by Russian investors, the price did not go below that point.</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">On Wednesday, the details of the possible new issue of Eurobonds VTB were announced: it will be 7-year notes with a 3-year option “put”. The amount of the loan will make amount 1-2 billion dollars. The coupon is expected to be on the level of 9 per cent. According to experts of MDM Bank, the investors could like the new release.</span></p>
<p class="MsoNormal" style="text-align: center;"><img class="size-full wp-image-224 aligncenter" title="article33-2" src="http://www.cbsinvestment.com/wp-content/uploads/2009/06/article33-21.jpeg" alt="article33-2" width="390" height="200" /></p>
<p class="MsoNormal" style="text-align: justify;">Meanwhile, analysts of IC &#8220;Troika Dialog&#8221; think that the expected coupon rate of 9 per cent and a three-year offer for early redemption of the paper will &#8220;rise&#8221; in the yield curve of traded Eurobonds VTB, without any premium. The News ruined the mood of the market. This is especially in contrast with the new release of Rosselkhoz, which completed the deployment last week. It should be recalled that the volume of applications for the bonds of the latter exceeded the offer five times, and the pent-up demand spilled on the secondary market and contributed to the growth of other securities of the issuer.</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US"> </span></p>
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		<title>The price of gold has fallen to its minimum  on COMEX</title>
		<link>http://www.cbsinvestment.com/the-price-of-gold-has-fallen-to-its-minimum-on-comex/</link>
		<comments>http://www.cbsinvestment.com/the-price-of-gold-has-fallen-to-its-minimum-on-comex/#comments</comments>
		<pubDate>Wed, 17 Jun 2009 08:45:24 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Investment]]></category>
		<category><![CDATA[COMEX]]></category>
		<category><![CDATA[Dollar Index]]></category>
		<category><![CDATA[NYMEX]]></category>
		<category><![CDATA[Stock Exchange]]></category>

		<guid isPermaLink="false">http://www.cbsinvestment.com/?p=190</guid>
		<description><![CDATA[The price of gold on the Stock Exchange of New York (COMEX) fell to its lowest level over the past three weeks and settled on the basis of trades below U.S. $ 930 per ounce on June 15. Thus, the official price of gold on COMEX in relation to its active futures (August) became 927.5 [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="text-align: justify;">The price of gold on the Stock Exchange of New York (COMEX) fell to its lowest level over the past three weeks and settled on the basis of trades below U.S. $ 930 per ounce on June 15. Thus, the official price of gold on COMEX in relation to its active futures (August) became 927.5 U.S. dollars per ounce, which is the minimum figure since 18 May of this year. The price of gold transactions settled in the range 926.5 to 940.3 USD per ounce.</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Troy ounce of gold became cheaper by U.S. $ 13.2 on COMEX on June 15, and it resulted to the fact that the official price of gold fell by a further 1.4% on the market. Reducing the price of gold was due to a visible strengthening of the dollar in world currency market. Dollar Index (spot), reflecting the change of exchange rate of the American dollar to the &#8220;basket&#8221; of six leading world currencies, rose by 1% for the first time in the past three weeks on June 15, which exceeded the point 81.</span></p>
<p class="MsoNormal" style="text-align: center;"><img class="size-full wp-image-191  aligncenter" title="article27-11" src="http://www.cbsinvestment.com/wp-content/uploads/2009/06/article27-111.jpeg" alt="article27-11" width="250" height="200" /><span id="more-190"></span></p>
<p class="MsoNormal" style="text-align: justify;">The dollar went up compared to the euro and other currencies except the Japanese yen, making the buying of gold unattractive. The increased investment demand for the dollar, as believed by experts, has caused a statement by the Minister of Finance of the Russian Federation Alexei Kudrin at a meeting of G8 finance ministers in Lecce (Italy), that it is too early to look for an alternative to the dollar, which will still remain the principal reserve currency in the world.</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Oil prices fell by an average of 2% in stock markets on June 15, which technically also helped the gold price reduction. Over the past two trading days the price of gold on COMEX has fallen to 34.5 U.S. $ per ounce, or by 3.4%, which was also due to a lack of fresh investment in physical gold.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The reserves of gold of the world&#8217;s largest specialized investment fund SPDR Gold Trust did not change and amounted to 1 thousand tons 132.15 as of June 15. This is the lowest point since May 29. It should be recalled that the gold of SPDR Gold Trust had reached a new record value &#8211; 1 thousand 134.03 tons on June 1, but since that day it has fallen to 1.88 tons.<br />
</span>
</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The price of silver on COMEX fell to its lowest level over the past three weeks on June 15. Thus, the official price of silver in relation to its active futures (July) amounted to 14.030 U.S. $ per ounce. This is the lowest point since May 18 of this year, the price of transactions with silver settled in the range of 14.030-14.875 U.S. $ per ounce.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Troy ounce of silver became cheaper by 84.5 cents on COMEX on June 15, and as a result the official price of silver fell by 5.6% on that day. The price of silver on COMEX has remained below 15 USD per ounce for the last two trading days. Over the past two sessions the price of silver fell by nearly 1.5 U.S. $ per ounce, or about by 10%, which was technically due to falling prices for gold and copper.</span></p>
<p class="MsoNormal" style="text-align: center;"><span lang="EN-US"><img class="size-full wp-image-192 aligncenter" title="article27-2" src="http://www.cbsinvestment.com/wp-content/uploads/2009/06/article27-21.jpeg" alt="article27-2" width="400" height="266" /><br />
</span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">It should be recalled that the price of gold lost 3.4% over the past two trading days. At the same time, the price of copper fell by 6.5% on COMEX since the second half of the last week, which in combination provided a decreased demand for silver and its sale.<br />
The price of platinum fell by 3.6% on the New York Mercantile Exchange (NYMEX) on June 15 and settled at its lowest level over the past two weeks. The official price of platinum with respect to its active futures (July) amounted to 1,213.7 U.S. $ per ounce. This is the lowest point since May 29 of this year, and the prices of transactions settled in the range 1206.1-1255.9 U.S. $ per ounce.</span>
</p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The price of palladium fell by 3.2% on NYMEX on June 15 and settled below $ 250 per ounce for the first time in one and a half weeks. Thus the official price of palladium amounted to 246.00 USD per ounce with respect to its active futures (September). This is the lowest point since June 3. The prices of transactions settled within the range 243.00-253.25 USD per ounce. The reduction of the price of palladium has continued since the beginning of this week. Troy ounce of palladium became cheaper during one day by U.S. $ 8.10 on NYMEX on June 15. As a result the price of palladium fell nearly by 13 U.S. $ per ounce, or nearly by 5% over the last three trading days.</span></p>
<p class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The drop in the price of palladium was technically due to a general weakening in demand for precious metals, primarily in platinum. At the same time, it should be noted that the price of palladium settled higher than the prices of other precious metals on the basis of the trading day. Thus, the price of palladium became at its lowest level for one and a half weeks on June 15.</span></p>
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		<title>Which company is the most expensive in the world?</title>
		<link>http://www.cbsinvestment.com/which-company-is-the-most-expensive-in-the-world/</link>
		<comments>http://www.cbsinvestment.com/which-company-is-the-most-expensive-in-the-world/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 10:30:09 +0000</pubDate>
		<dc:creator>Investment</dc:creator>
				<category><![CDATA[Markets and Economy]]></category>
		<category><![CDATA[Stock Exchange]]></category>

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		<description><![CDATA[Chinese oil company-giant re-emerged as the largest in the world with its market capitalization. Every year in June, the newspaper The Financial Times publishes top FT 500, which is the rating of the largest capitalized companies in the world. A month before the publication of the rating, it became apparent that despite the crisis and [...]]]></description>
			<content:encoded><![CDATA[<p>Chinese oil company-giant re-emerged as the largest in the world with its market capitalization.</p>
<p style="text-align: justify;"><img class="alignnone size-full wp-image-49" title="petrochina-article11" src="http://www.cbsinvestment.com/wp-content/uploads/2009/06/petrochina-article111.jpg" alt="petrochina-article11" width="470" height="324" /></p>
<p style="text-align: justify;">Every year in June, the newspaper The Financial Times publishes top FT 500, which is the rating of the largest capitalized companies in the world. A month before the publication of the rating, it became apparent that despite the crisis and the fall in oil prices, the fight for the championship will be the oil industry: the Chinese governmental PetroChina and American private company Exxon Mobil.</p>
<p style="text-align: justify;">On May 25, the world&#8217;s news agencies reported that the capitalization of PetroChina on the Shanghai Stock Exchange rose by three per cent and reached the mark of the 336 billion dollars. At first glance in this mediocre news there was only one thing interesting: namely, the three per cent was the lacking number for the Chinese company in order to become the most expensive company in the world.</p>
<p style="text-align: justify;">The point is that the main competitor of the Chinese company &#8211; Exxon Mobil &#8211; cost 335.9 billion dollars as a result of trades on Friday, May 22. On May 25, they were not able to beat the record of PetroChina: the tender in the United States on that day did not take place because of the national holiday &#8211; the Day of Remembrance.</p>
<p style="text-align: justify;">On May 26, shares of PetroChina in Shanghai went down by 0.08 percent. Thus, the investors of the American company had only to slightly increase the value of Exxon Mobil in order to regain its title of the largest in the world. And so it happened: on May 26, Exxon Mobil shares went up by 1.42 per cent, while the capitalization became 340.65 billion dollars.</p>
<p style="text-align: justify;">Who will be put on the first place of FT 500 is already known, as the classification is drawn up by market capitalization by March 31. If this time no surprises happen and reporting date will not be changed, then ExxonMobil will be the first.</p>
<p style="text-align: justify;">Since the results of bidding for major world markets are published in real time, we have an opportunity to see how the capitalization of the largest companies has changed in the world during the past year. Thus, despite the fall in oil prices, their places among the largest companies retain not only Exxon Mobil and PetroChina, but also another oil and gas corporation &#8211; Royal Dutch Shell.</p>
<p style="text-align: justify;">Another candidate for the considerable drop in the ranking became &#8220;the bronze prize-winner&#8221; of last year &#8211; General Electric. During not the whole year the capitalization of company decreased from 370 to 139 billion dollars. So this time, General Electric will almost certainly not be in the first three. True, although the almost all American manufacturer in the world (from light bulbs to aircraft engines) should not worry: in 2009 it headed one of the most prestigious rankings &#8211; Global 2000, which is compiled on the basis of market capitalization, revenues, assets and profits.</p>
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