Euro Tops 14-Month High vs. Dollar (Reuters)
European investors got a needed dose of good news today as the euro climbed to its highest level in 14 months (valued at $1.35) against the dollar. The European Union‚??s common currency was buoyed by optimism about both the European and global economies, as well as the continuation of the Fed‚??s $85 billion a month bond buying spree through 2013. The ‚??feel-good‚?Ě mentality also boosted oil and metals shares. Later today, a number of additional European economic reports will be delivered and could push the euro even higher.
East Asian Markets Scream Green (Bloomberg)
All investors had to do to make money earlier today was look toward the rising sun, as almost every East Asian market sported positive numbers for the day‚??s trading session. The lone exception to an across-the-board advance was the Malaysian Bursa Index, which dropped .59 percent.¬† Japan‚??s Nikkei 225 led the way, pole-vaulting 2.28 percent for the day. The Japanese rally is perceived to be paced by the country‚??s three mega-financials, which are reporting a recovery in their lending activities. Early in 2013, as Japan‚??s economy goes, so goes the region. Here‚??s to a continued rise in the Far East.
Dell to Shell out $4.6 Billion to Buy Back Company (Bloomberg)
Michael Dell is said to be putting as much as $1 billion of his personal wealth toward equity financing in an attempt to take the company he founded in 1984 back to private status. When this $1 billion is combined with Dell‚??s current ownership stake of 15.7 percent (worth about $3.6 billion), it means that he would personally be responsible for more than half of the equity, or more than $4.6 billion, required to buy back Dell, Inc (DELL). Thought to be partnering with Dell in the buy back are Silver Lake Management, LLC and Microsoft Corp. (MSFT). Because of the ‚??private‚?Ě nature of the buyout discussions, neither Silver Lake or nor MSFT commented on the process.