| Brazil Real Falls Amid Calls to Weaken Currency, Boost Growth
Feb. 9 (Bloomberg) -- Brazil's real fell as investors refrained from buying local assets following calls from the president's Worker' Party for the central bank to change monetary policy to weaken the currency and spur growth. ``It's not that anything radical will happen, but when you see the central bank president coming under pressure like this, it makes people nervous,'' said Paulo Fujisaki, foreign exchange analyst at Socopa Corretora in Sao Paulo. The real fell for a third day, dropping 0.7 percent to 2.1080 reais per dollar at 2:31 p.m. in New York, after most trading had ended in Brazil. The Brazilian currency on Feb. 6 touched 2.0745 reais per dollar, the strongest since May 11. It has gained 1.3 percent against the U.S. currency this year, making it the best performer of the 16 major currencies.
S.Lanka stocks at fifth straight high on earnings
COLOMBO, Feb 9 (Reuters) - Sri Lankan stocks rose to a fifth consecutive life closing high on Friday as investors bought select shares amid a batch of quarterly corporate earnings, traders said. The Colombo All Share index ended 0.42 percent firmer at 2,973.57 points, surpassing the previous life closing high of 2,961.20 points hit on Thursday. However lagging trades must still be factored into the market, and the close could still change. The bourse has hit a string of successive life closing highs in recent weeks, in part boosted by a raft of well-received corporate quarterly earnings results that are still trickling in. "The market is looking quiet active. With corporte results coming in all around there was buying coming into the market," said Prasanna Chandrasekera, assistant manager at John Keells Stockbrokers in Colombo.
Traders Pay Biggest Premium in 3 Years for Yen Options(Update1)
Feb. 7 (Bloomberg) -- Currency traders are paying the most in almost three years for options that protect against a potential rebound in the yen versus the euro, before Group of Seven finance officials meet in Germany later this week. Investors are hedging against the chance G-7 nations try to support the yen after it fell last month to a record low against the euro. German Finance Minister Peer Steinbrueck last week said the G-7 will discuss the drop in Japan's currency, which has weakened as the Bank of Japan kept its benchmark interest rate at 0.25 percent, the lowest among major economies. Traders are buying insurance against an unraveling of the so-called carry trade, in which investors borrow in Japan and buy debt in economies such as the euro region, where they can get 2 percentage points or more in extra yield.
Australian Dollar Advances as Commodities, Gold Prices Increase
Feb. 9 (Bloomberg) -- The Australian dollar advanced for a sixth day, tracking a rise in the price of commodities the nation exports, such as gold. The currency headed for the biggest weekly gain in two months after the Reuters/Jefferies CRB index of 19 commodities jumped 1.5 percent to the highest in a month. Raw material exports add about 14 percent to economic growth. Australia's dollar rose above 78 U.S. cents yesterday for the first time in two weeks after the unemployment rate fell to a 31-year low. ``The Australian dollar continues to grind higher, extending yesterday's post-data gains,'' said Danica Hampton, a currency strategist at Bank of New Zealand in Wellington. ``The gain in base and industrial metals is providing some support.'' The currency bought 78.17 U.S.
Enerflex Reports 2006 Year End Financial Results
CALGARY, ALBERTA--(CCNMatthews - Feb. 8, 2007) - Enerflex Systems Income Fund (TSX:EFX.UN), a leading supplier of products and services to the global energy industry, today announced its financial and operating results for the three and twelve months ended December 31, 2006.
Mr. J. Blair Goertzen, President & CEO of Enerflex is pleased to report that "2006 has been a very successful and rewarding year during which we positioned Enerflex to fully benefit from activity in our four worldwide target regions".
"We are very pleased that we have been able to increase international revenue by 58% in 2006 to represent 35% of Enerflex's total revenues of $792.3 million, both record highs" Mr. Goertzen continued.
In the fourth quarter of 2006, Enerflex completed its conversion into an Income Trust.
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