The News Review:

- Forex – Euro hits new dollar high after upside revision to euro zone…
- Britain’s BP says stake buyer is China’s forex administration…
- Forex – Dollar weakens in afternoon trade in Asia on Fed rate cut…
- Virbac Q1 sales fall 1.3 percent on forex, disposal
- FOREX: Ringgit Higher Against US Dollar
- Forex News: Higher European Inflation Sends Dollar Lower
- S&P Picks and Pans: JPMorgan, Intel, Coca-Cola, CSX, Blackrock,…

Forex – Euro hits new dollar high after upside revision to euro zone…
Forbes – Apr 16, 2008
dollar this morning after inflation in the euro zone for March was revised higher, to the likely alarm of policy-makers at the European Central Bank. Eurostat, the EU statistics office, said the euro zone’s harmonised index of consumer prices rose a final 3. 6 percent year-on-year in March, revised up from a provisional estimate of a rise of 3.

Britain’s BP says stake buyer is China’s forex administration…
Forbes – Apr 16, 2008
A BP spokesperson in charge of global investor relations said the buyer was SAFE Investment Company Limited, formed in 1997 with a registered capital of 100 mln hkd, the Caijing magazine said. The spokesperson did not disclose any financial details of the deal. But it could be worth more than 2 bln usd based on BP’s current market capitalization of 104 bln stg. A BP spokesman told Agence France-Presse yesterday that the company was ‘aware that a Chinese entity has built up a stake of slightly less than 1 pct over the past few months’ and they ‘welcome all shareholders’.

Forex – Dollar weakens in afternoon trade in Asia on Fed rate cut…
Forbes – Apr 16, 2008
dollar weakened against the euro and the yen in afternoon trade in Asia on Wednesday on speculation the Federal Reserve will cut key interest rates this month. While the Fed is widely anticipated to lower its rates by as much as half a percentage point during its April 30 meeting, the European Central Bank (ECB) may maintain its rate for the rest of the year, making the dollar less attractive to investors. The Fed will likely cut rates to spur an economy that is expected to plunge into a recession in the first half of 2008, and ignore the faster rise in consumer prices, analysts said.

Virbac Q1 sales fall 1.3 percent on forex, disposal
Forbes – Apr 16, 2008
3 percent year-on-year in the first quarter 2008, hit by the strength of the euro and the disposal of an over-the-counter (OTC) business in the US. Excluding the impact of the disposal, sales rose 4. 8 percent on an organic basis, putting them at the low end of analyst expectations. The group confirmed its target of 6 percent organic sales growth over the full year.

FOREX: Ringgit Higher Against US Dollar
Bernama – Apr 16, 2008
dollar in late trading Wednesday, taking advantage of the weaker dollar in the global markets, a dealer said. At 5pm, the ringgit appreciated against the U.

Forex News: Higher European Inflation Sends Dollar Lower
Daily FX – Apr 16, 2008
1% the month prior. The index which tracks eight gauges of economic activity is validating concerns that he economy will slow in 2008. The RBA which raised the benchmark rate in March to curb inflation, may have to start considering future rate reductions.

S&P Picks and Pans: JPMorgan, Intel, Coca-Cola, CSX, Blackrock,…
BusinessWeek – Apr 16, 2008
rose more than 40%, continuing to show momentum. Though favorable forex is likely to be reinvested, we raise our 2008 estimate by $0. We keep our 72 target price.