Good morning. Here’s what you need to know:
- Asian indices were mixed in overnight trading, with the Hang Seng down 0.56%. European indices are mostly down in early morning trading, and U.S. futures suggest a slightly positive open.
- Global markets are focused on this weekend’s G20 summit in Seoul, South Korea. U.S. Treasury Secretary Tim Geithner is pushing for a global deal to avert out-and-out currency war.
- Gold is continuing its pullback ahead of the conference. The once surging metal has fallen back to $1320, after reaching highs near $1390. Here’s a fantastic presentation on how to value gold >
- AIG has raised $17.85 billion in its IPO of its Asian division, AIA. The IPO is the largest ever in Hong Kong, and the deal values AIA at $30.5 billion. Check out these 12 huge Chinese IPOs from 2010 >
- Germany’s business confidence index surprisingly increased in October. The indication is that the presumed slowdown in German growth might actually not occur, with confidence at its highest level since May 2007.
- Nestle reported a strong start to 2010, with growth of 4.5% in its food and beverages business through the first 9 months of the year. The company is set to make record profits in 2010.
- French police have removed a blockade from a key fuel depot for Paris. Protests continue in the country, with 7 out of 10 French citizens in support. Check out some stunning videos of the protests in France >
- Real estate owner and operator Ventas is acquiring Atria Senior Living Group’s real estate assets. The deal is valued at $1.5 billion in stock and cash.
- The U.S. Treasury’s asset purchase program saw a 36% return in its mortgage backed security investments for the first nine months of 2010. The Treasury has an equity stake in the 8 funds associated with the program.
- Major U.S. companies like Goldman Sachs, Dow Chemical, and Prudential have been donating money to the U.S. Chamber of Commerce in a bid to halt the Democrat’s agenda. Prudential’s donation may be the largest, at $2 million.
- Bonus: Pamela Anderson will be Playboy’s cover girl for the 11th time. She will be on the front of the January 2011 issue.
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