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Goldcorp Q4 Output Up 8.3%

Goldcorp reaches new high as gold production hit 692k ounces in December, beating 2008 forecast. The second largest gold producer by market value, expects production for the full year to come in above 2.3mln ounces. Goldcorp's spending for 2009 is expected to stay the same as 2008 at $1.4bln.

7ticks Ultra-low latency network bridges U.S. and Frankfurt financial markets with expansion at Equinix

January 8th, 2009 - Managed service provider expands reach of financial network

FX Midday: Europe

The European morning was influenced by risk reduction after equity markets continued to trade at softer levels. JPY and CHF traded on a firmer footing versus the dollar, which added weight on the crosses. EUR/CHF traded below 1.4950 and EUR/JPY moved towards 124.00 amid good Japanese lifer selling reportedly linked to eurozone bond redemptions. Elsewhere, EUR/USD was weighed on amid good cross flows and softer Eurozone data, but managed to find a base after recording early lows of 1.3536. Yesterday weak US ADP employment continued to highlight the difficult US economic conditions, which hampered dollar buying momentum. The heaviness in the euro crosses led to more Cable volatility, with EUR/GBP trading underneath 0.9000, which kept Cable above 1.5000 despite an early test lower. The market will towards the BOE rate decision, where a cut of at least 50 bp is expected, but uncertainty remains high.

European Markets Outlook

US shares took a thumping Wednesday on weak private-sector employment data and a massive sell-off in oil. The Dow dropped 2.7%. The S&P lost 3%. The Nasdaq led the way down with a 3.2% decline. The December decline of 693k in the ADP emplyoment survey was the worst on record. Asian shares suffered from gloomy economic sentiment amid the US market performance and jobs numbers. The Nikkei lost nearly 4%. The ASX was off 2.3%. The Hang Seng dropped 3.7%. European equities were called sharply lower. The FTSE was seen down 55 points, the DAX off 45 and the CAC 50 lower. The Dax future shed 0.8% in early trade. The CAC future was off 1.2%. The day started with a groan when German December exports came in down more than 10% m/m, which was the biggest decline since at least January 2000. German Industrial orders, set for 11 GMT, are expected to show further weakness in Europe's largest economy. The BOE will announce its rate decision at Noon GMT, and most observers are expecting a hefty cut. Both events will be broadcast live on Need to Know News' Scream Audio. The Euro backed down from session highs following the weak German trade data. EUR/JPY lost 0.7%. EUR/USD was flat. EUR/GBP 0.1%. Sterling eased following today's expected BOE rate cut. Cable was off 0.1%. GBP/JPY fell 0.8%. Bonds took a bid out of the chute as investors shifted to safety. The 10yr Bund future added 22 ticks to 123.08. The 10yr Bund yield shed 1bp to 3.18%. The 2yr Schatz was off 3bps at 1.67%. The 10yr Gilt climbed 2bps to 3.29. The 2yr shed 1bp to 1.77%. The 10yr JGB rose 1bp to 1.31%. The 10yr T-note fell 3bps to 2.46%. Oil moved a touch higher after WTI fell 12% in the US session. WTI added 0.7% to $42.91. Bren was up 0.3% to $48.82.

Silver Closes Down 3% to 11.105

Silver opened higher and rallied in early part of the floor session. It breached resistance at yesterdayâ��s high of 11.55 but could not break through the 11.60. Silver then fell off a cliff as sellers pushed it all the way down to 10.88. Silver would regain the $11 handle by the end of the day but still gave back all of yesterdayâ��s gains.

Dec. U.S. Corp Pension Plan funding cratered more than 11% - BONY

unding ratios at the typical U.S. corporate pension plan slid more than 11 percentage points in December, after falling more than 13 percentage points in November, according to BNY Mellon Asset Management. The two double-digit declines resulted primarily from falling rates of longer-term high grade corporate bonds.

US Challenger 2008 Planned Job Cuts 1.2mln, 5-yr High

The figure is up 60% from 2007.

QuantHouse makes Euronext UTP Ultra Low Latency Data Feed available

January 6th 2009 - QuantHouse announces availability of brand new Euronext UTP feed-handler to benefit from the latest high speed real-time market data for NYSE Euronext markets via multicast technology

Oppenheimer & Co. extend relationship with SunGard

January 6th, 2009 - Oppenheimer & Co. to extend relationship with SunGard by implementing Brass Liquidity Services algorithms

Thomson Reuters unveils Ultra Low Latency Direct Feed solution for NYSE Euronext UTP

January 6th, 2009 - Thomson Reuters announces beta release of ultra low latency direct feed solution for NYSE Euronext's Universal Trading Platform