The markets made a nice recovery today as all major indices posted gains. The Nasdaq roared back from a sub-par session yesterday with a 164.84 point gain, and the Nasdaq jumped up 34.94 points to 2,153.63. The S&P 500 also rallied for a 17.37 point increase to close the day at 1,064.59 points. Today’s trading was probably considered a pleasant surprise for Wall Street considering the circumstances. Federal Reserve Chairman Bernanke offered some rather glum and uninspiring remarks about the economy, and Intel (INTC) scared off investors when it announced that it would most likely miss revenue estimates. However, the session managed to stay up beat, and close the week on a high note. T Read more…
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American Water Works Co., Inc. (NYSE:AWK) shares are up 14% in the last 3 months, today closing up 2.78% at $22.56. The stock was profiled today on AOL’s DailyFinance and last weekend it got the thumbs up from Barron’s.
AWK has managed to buck the trend of the falling market, which is why everyone is quick to jump on board. The Masters are also warming up the stock which is now trading just 5% away from its 52-week high, its on a roll.
American Water Works Co., Inc. is headquartered in Voorhees, NJ, they are the largest investor-owned water and wastewater utility company in the U.S. an
Tags: American Water, American Water Works, Water Works, WorksNew Delhi: India’s top state-run infrastructure finance company will likely start guaranteeing all infrastructure bonds from next month, helping generate long-term funds for the sector which could remove an impediment to stronger economic growth.
SK Goel, chairman and managing director of India Infrastructure Finance Company Ltd (IIFCL), said the proposal would likely get the government’s nod by end-September and could attract investments of up to Rs4,000 crore ($854 million) by end-March 2011.
He also said the state-run firm would raise Rs3,000 crore of floating tax-free bonds between October and March after it gets the go-ahead from the finance ministry.
“We will enhance the ratings of the project developers by giving our unconditional guarantees for the repayment of their bonds and their interests,” Goel told Reuters in an interview.
“So that they (bonds) become a very attractive and acceptable proposition to the insurance companies, providend funds and pension funds.”
Problems related to access to long term funds and regulatory hurdles have marred India’s plans to overhaul its creaky infrastructure, which is seen a drag on achieving a growth pace similar to peer China’s double-digit economic expansion.
Capacity bottlenecks in the Indian economy, including poor infrastructure, are partly responsible for driving up headline inflation in India to near double-digit levels.
India’s underdeveloped domestic bond markets and restrictions on investments of pension and insurance funds ensure infrastructure developers rely mainly upon overstreched banks, which provide only short-term funds.
India aims to spend about $500 billion in the five years to end-March 2012 and is considering doubling the investment figure in the five years from 2012.
IIFCL, which is mandated to provide long-term funds for infrastructure projects, is likely to lend about 400 billion rupees in the current fiscal year to end-March 2011, Goel said.
A Planning Commission report showed the country missed its target for power sector and road additions in the last fiscal year.
SLR Sta
Tags: Bonds, Infrastructure BondsThe bears got some more good news after the opening bell when the Commerce Department reported new home sales “unexpectedly” fell 12.4% in July to 276,000. We highlighted “unexpectedly” because the pencil pushers had forecast new home sales would come in unchanged at 330,000.
Are you serious? Unchanged