金山文摘(7_7_05)

Market forecast- By JOHN HEINZL, Thursday, July 07, 2005 ,From Thursday's Globe and Mail

1. According to Thomson Financial, the estimated second-quarter growth rate for S&P 500 companies stands at 7.4 per cent, down sharply from 13.9 per cent in the first quarter and 19.7 per cent in the fourth quarter of 2004.

So should investors be heading for the exits? Not necessarily. Much of the second-quarter earnings weakness is already reflected in stock prices, he says. The important thing now is the outlook for the third quarter and beyond.

2.Thomson Financial forecasts that S&P 500 profit growth will rebound to 15.1 per cent in the third quarter, before falling to 12.3 per cent in the fourth quarter and 8.7 per cent in the first quarter of 2006.

3. In Canada, where soaring energy prices are creating a profit windfall in the oil patch, Thomson Financial predicts profits for S&P/TSX 60 index members will climb 13.2 per cent in the second quarter, 18.8 per cent in the third quarter and 24.1 per cent in the fourth.

Oil surges above $61-By ROMA LUCIW,Wednesday, July 06, 2005 ,Globe and Mail Update with Associated

PressEnergy futures have been supported for almost two years by strong demand and worries about limited excess capacity in oil production and refining around the globe. Concerns about terrorism, the war in Iraq and labour strife in oil-producing nations such as Nigeria and Norway have also fed fear into the market.

The Organization of Petroleum Exporting Countries said last week that world oil demand will rise to 85.9 million barrels a day in the fourth quarter, or 150,000 barrels more than forecast a month earlier.