Business news with words added+recession+shares. 9 news.

CONSUMER confidence is falling, the odds of a recession have risen, analysts predict the worst holiday shopping since 2002 - and retail-industry executives are buying their companies' shares like never before. Limited Brands Inc Chief Executive Officer Leslie Wexner and eight other executives bought a record amount of stock last month after prices fell to a four-year low. Dillard's Inc director Warren Stephens made the biggest insider purchase ever as shares of the Arkansas-based department store chain headed for the steepest decline since at least 1980. Cambiar Investors LLC, Royce & Associates LLC and Becker Capital Management Inc say insider buying foreshadows a rebound. The last four times executives added to their holdings, the Standard & Poor's Supercomposite Retailing Index rose an average 9.9 percent in the next three months, topping a 6.2-percent average rise in the S&P 500 Index. Retail company officials increased their investments by US$346.4 million since the start

UNITED States shares have posted their steepest two-week advance since September after President George W. Bush announced a plan to freeze some mortgage rates to prevent foreclosures from causing a recession. Centex Corp and DR Horton Inc led homebuilders as they climbed the most in seven years. Intel Corp, Micron Technology Inc and other semiconductor companies in the Standard & Poor's 500 Index rose the most since June following analyst predictions that demand for computers will increase. All 10 industries in the S&P 500 gained. Stocks have rebounded after losing their 2007 gain at the end of last month, spurred by speculation the Federal Reserve will reduce interest rates to prop up the world's largest economy. The S&P 500 declined on Friday after a Labor Department report showed US employers added more jobs than estimated in November, diminishing the odds that central bankers will cut their rate benchmark by half a point tomorrow, Bloomberg News said. "The economy is

ASIAN stocks rose for a third day, led by Mitsubishi UFJ Financial Group Inc and National Australia Bank Ltd, on speculation the Federal Reserve will cut United States interest rates to bolster growth in the world's largest economy. Sun Hung Kai Properties Ltd led gains by developers in Hong Kong as lower borrowing costs would spur demand for real estate. Hong Kong's interest rates typically move in step with those in the US because the currency is pegged to the greenback. Banks also climbed on speculation US Treasury Secretary Henry Paulson will reach a deal to stem further credit-market losses, Bloomberg News said. "There's a perception the Fed is getting ahead of the curve and as a result the US economy won't fall into recession," said Troy Angus, who helps manage the equivalent of US$3.5 billion at Paradice Investment Management Ltd in Sydney. The MSCI Asia Pacific Index added 0.2 percent to 162.21 at 6:33pm in Tokyo. Japan's Nikkei 225 Stock Average fell 0.3

EUROPEAN stocks had their biggest weekly gain last Friday since June on speculation the United States Federal Reserve will lower interest rates to prevent credit-market losses from dragging the world's biggest economy into a recession. "The situation is serious enough to expect further rate cuts," said Guenther Gerstenberger, a fund manager at Germany-based PEH Wertpapier AG, which oversees the equivalent of US$5.5 billion. "In the medium term we'll see strong equity markets." Commodity stocks rose the most in 10 weeks, led by BHP Billiton Ltd, Anglo American Plc and Rio Tinto Group. Barclays Plc and Commerzbank AG paced an advance of financial stocks after strategic buyers from emerging-market countries bought stakes in Citigroup Inc, the biggest US bank, and Fortis of Belgium, Bloomberg News reported. The Dow Jones Stoxx 600 Index added 3.5 percent to 370.36 last week. Still, the gauge dropped 4.7 percent in November for the worst monthly performance since

ASIAN stocks rose, reversing earlier declines, on speculation minutes from a Federal Reserve meeting will show the United States economy, the region's biggest overseas market, can weather a slump in values of homes and subprime mortgages. Some shares also climbed on expectations declines this month didn't reflect regional companies' earnings prospects. Mitsui & Co, which lost a fifth of its value in November, advanced. CNOOC Ltd led gains among energy stocks as oil prices rose. "Is subprime going to drag the US economy into recession? I don't think so," said Mona Chung, who helps manage US$2.5 billion at Daiwa Asset Management Ltd in Hong Kong. "Some shares have already dropped to very attractive levels." The Morgan Stanley Capital International Asia Pacific Index added 0.3 percent to 158.05 at 6:47pm in Tokyo, rallying from an earlier decline of as much as 2.6 percent. The index is still down 7.8 percent this month. Japan's Nikkei 225 Stock Average

US energy and computer companies rallied, carrying the Standard & Poor's 500 Index to its third advance on Friday, after a better-than-expected jobs report outweighed concern banks face mounting credit losses. Schlumberger Ltd and Halliburton Co, the biggest oilfield services companies, gained as oil rose to a record US$95.93 a barrel. Apple Inc, Google Inc and Intel Corp climbed on prospects employment growth will increase consumer spending, helping the US economy avoid a recession. Merrill Lynch & Co led financial shares to their steepest two-day loss since 2002 as the market completed its second weekly decline in two months. The S&P 500 rose 1.21, or 0.1 percent, to 1,509.65 on Friday, while the Dow Jones Industrial Average increased 27.23, or 0.2 percent, to 13,595.1 and the Nasdaq Composite Index added 15.55, or 0.6 percent, to 2,810.38. About 18 stocks gained for every 17 that fell on the New York Stock Exchange. "Energy, technology - they have ties back to strong

US stocks rose for a fifth straight week, the longest stretch of gains since May, after minutes from the Federal Reserve and better-than-expected retail sales bolstered hopes that the economy will keep expanding. Wal-Mart Stores Inc, the world's largest retailer, climbed to a two-month high after boosting its third-quarter profit forecast. Yum! Brands Inc, owner of the Pizza Hut and Taco Bell restaurant chains, jumped the most since September 2005 on earnings that topped analysts' estimates. Exxon Mobil Corp, the biggest oil company, led a gauge of energy shares to a record after crude prices rose to an all-time high. Minutes from the Fed's September 18 policy meeting showed central bankers avoided language that might have suggested the economy would fall into a recession. The Commerce Department said retail sales added 0.6 percent last month, from the 0.2 percent gain predicted by analysts in a Bloomberg News survey. "The consumer is a staying force, earnings growth is

ASIAN stocks rose to a record yesterday after a pickup in US hiring stoked optimism that the world's biggest economy will avoid a recession. BHP Billiton Ltd, the world's largest resources company, led raw materials producers higher. Hon Hai Precision Industry Co, which produces iPhone handsets and PlayStation 3 game consoles, gained on speculation that US consumer spending will strengthen. The data point "to a soft landing in the US, which is the best scenario that investors could hope for," said Leslie Phang, who helps manage US$1 billion at Commonwealth Private Bank in Singapore. "We're seeing a very favorable market outlook. If global economies continue to perform all right, Asian companies will do very well." The Morgan Stanley Capital International Asia-Pacific excluding Japan Index added 0.4 percent to 550.19 yesterday in Hong Kong, exceeding its October 2 record close of 549.66. Japan's market was closed for a holiday. Pakistan's Karachi Stock Exchange 100 Index climbed to a new high after President Pervez Musharraf won an election, and benchmarks in Australia and the Philippines also set records. Hong Kong's Hang Seng Index closed 0.2 percent lower, after earlier surging 2.3 percent to an intraday high. Stocks in the United States rallied on Friday, lifting the Standard & Poor's 500 Index to a record, after the Labor Department said the number of jobs in the country increased by 110,000 in September, more than the 100,000 additions forecast by economists in a Bloomberg News survey. The August figure was revised to an increase of 89,000 from a drop of 4,000. Last week's jobs data contributed to confidence that the US economy will be able to weather losses from subprime, or higher risk, mortgage losses. "The US jobs market is holding up despite the market's fears, and that means the consumer is more likely to survive the recent turmoil," said Hans Kunnen at Colonial First State Global Asset Management in Sydney. "The stars are aligned for the resources sector." BHP Billiton rose 1.3 percent yesterday to A$44.69 (US$40.15). PT International Nickel Indonesia, the nation's biggest nickel producer, climbed 2.2 percent to 69,000 rupiah (US$7.59). Korea Zinc Co, the world's second-largest zinc smelter, gained 1.1 percent to 188,000 won (US$205.58). A measure of six metals traded on the London Metal Exchange, including copper and nickel, rose 0.6 percent. Copper added 0.1 percent, nickel increased

US stocks have risen for a fourth straight week, sending the Standard & Poor's 500 Index to a record, after employment growth eased concern that mortgage losses will cause a recession. Fannie Mae and Morgan Stanley led banks, brokerages and other financial firms in the S&P 500 to their biggest rally since March 2003. Homebuilders surged the most since November 2000 after Citi Investment Research said their shares are cheap, Bloomberg News reported. The Labor Department said American payrolls increased by 110,000 jobs in September and the prior month's decrease of 4,000 was revised to a gain of 89,000. That quelled concern that home-loan losses are dragging down the economy. "Stocks look very good to me," said John Lynch, chief market analyst at Evergreen Investments LLC, which manages US$280 billion in Charlotte, North Carolina. "The jobs report suggests continued economic growth, which should translate to continued profit growth and good market performance." The S&P 500 rose two percent last week to 1,557.59. The index has rebounded 11 percent since August 15, erasing US$1 trillion of losses. The Dow Jones Industrial Average ended the five-day period up 1.2 percent at 14,066.01 after closing at a record on October 1. The Nasdaq Composite Index added 2.9 percent to 2,780.32, the highest since February 2001. The yield on 10-year US Treasury notes rose about 0.05 percentage point to 4.64 percent. Traders pared bets that the Federal Reserve will lower interest rates this month because of less concern the housing slump will weigh on the broader economy. The central bank reduced its benchmark lending rate by half a percentage point to 4.75 percent on September 18. Financial shares in the S&P 500 rose 4.5 percent. "We expect to return to a normal earnings environment in the fourth quarter," Citigroup Inc Chief Executive Officer Charles Prince said. His company is the largest US bank. Former Federal Reserve Chairman Alan Greenspan also said the credit slump may be ending. Fannie Mae, the largest provider of money for US home loans, rose 11 percent to US$67.30. Morgan Stanley, the second-largest US broker by market value, climbed 9.4 percent to US$68.90. Goldman Sachs Group Inc, Morgan Stanley's bigger rival, added 5.4 percent to US$228.50. The S&P Supercomposite Homebuilding Index gained 12 percent, the most in almost seven years. Citi analyst Stephen Kim said at the start of last week that the shares of builders such