Rapaport TradeWire - Friday, February 8, 2008
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News: U.S. and European markets slide as most Asian markets remain
closed for Chinese New Year. Fortunoff Chapter 11 bankruptcy rattles
New York market. Weak U.S. dollar hurting manufacturers with traders
turning to Far East as Israeli Jan. polished exports to U.S. -25% but
+56% to Hong Kong. High clarity goods expected to do well at upcoming
Macau show. South African mines operating at 90% capacity amid
long-term power shortages with platinum prices at record $1851/oz. Rio
Tinto rejects sweetened +13% BHP takeover bid. BHP 1H08 diamond
profits -7.7%. Japan Dec. polished imports -19% to $51.37M, ending
year -13% at $881M. Israel Jan. rough imports +27% to $342M and
polished exports +3% to $754M. Jan. retail sales results mixed:
Macy’s- 28% to $1.25B with same-store sales -7%; Zales 2Q sales -7% to
$827M but Jan. same-store sales +6%; Signet 4Q sales -6% to $1.38B
with same store sales -7%; Finlay 4Q sales +24% to $383M on Bailey
Banks Biddle acquisition and same store sales -6%.
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ANNOUNCEMENTS
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=== RAPAPORT AT INHORGENTA EUROPE 2008 ===
MUNICH - GERMANY
Pavilion C1 Booth 401 February 15-18 2008
- INDEX® – Internet Diamond Exchange
- RapNet® - Diamond Trading Network
- Rapaport Diamond Report
For appointments / information contact
Francesco Lopresti -- francesco@diamonds.net
+39 0444 961145
============================================
=== RAPAPORT AT MACAU SHOW ===
Feb. 28 - Mar. 2, 2008
The Cotai Strip Convention and
Exhibition Center at the Venetian Macao
Booth ME17
Julius Zheng : julius@diamonds.net
+86-135-0177-8251
========================================
=== Rapaport Conference at JCK Vegas Show ===
Monday, June 2, 2008 – Venetian Hotel
8:00-10:00 Rapaport Breakfast – “State of the Diamond Industry”
10:30-12:00 Bankers Conference
1:00- 4:00 Fair Trade Conference
Reserve space via email conference@diamonds.net
=== Rapaport International Diamond Conference ===
Monday, September 8, 2008
Waldorf Astoria Hotel, New York
HOLD THIS DATE – Press Release to Follow
Reserve space via email conference@diamonds.net
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RETAIL QUOTE:
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"January chain-store sales grew by 0.5 percent. The softening of
retail spending was across the board especially for luxury and
department stores sales, which have dropped significantly. With
uncertainty about the economy, and the possibility of a recession,
consumers have pared their spending. Looking forward to February, we
expect much of the same, as U.S economic problems do not seem to be
dissipating anytime soon."
---Michael P. Niemira, chief economist and director of research
International Council of Shopping Centers
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WORLD NEWS:
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---Israel's Jan. Imports, Exports (YTD = Year to date)
Jan.'08 %Chng'07 YTD %Chng'07
($Mil) ($Mil)
Polished Exports $754 3.3% $754 3.3%
Polished Imports $278 -2.5% $278 -2.5%
Net Polished $476 7.0% $476 7.0%
Rough Imports $342 27.1% $342 27.1%
Rough Exports $443 78.6% $443 78.6%
Net Rough ($101) N/A ($101) N/A
Diamond Account $577 36.1% $577 36.1%
---Belarus Rough Diamond Imports +51% in 2007
Belarus increased its imports of rough diamonds by 51.2 percent to
$25.4 million in 2007. Belarus rough exports fell 8.7 percent to
$26,900 for the year from 2,861 carats.
---Rio Tinto to BHP: Offer No.2 'Significantly Undervalued'
ONEDAY soon "Charoletts' Pig, The Wonderful PIG, Charoletts PIG" ONE PIG named WINSTON ! ONE MILL XMM PIG .10 SOON
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