FTSEurofirst 300 up 1.1 pct on the day, up 13 pct on week… Index lost 7 pct in Nov, ninth month of losses in 2008… Cyclicals hammered; defensive pharmas surge

European stocks ended higher on Friday, as buoyant pharmaceutical shares eclipsed a drop in cyclical mining and industrial sectors hit by renewed economic fears, while energy shares tumbled along with oil.

The FTSEurofirst 300 index of top European shares closed 1.1 percent higher at 862.07 points.

Although it gained 13 percent during the week, the index dropped 7 percent in November, recording a ninth month of losses in what has been a torrid 2008 for equities worldwide.

Pharma stocks made strong gains on Friday, with GlaxoSmithKline up 5.1 percent and Sanofi-Aventis up 4.5 percent. Novartis , whose CEO said the company could increase its dividend and also resume share buybacks

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Money Map Report editor Horacio Marquez says Apple Inc. (Nasdaq: AAPL) is a bargain at today’s prices. The company continues to grow and diversify, and will keep gaining market share for its products. However, a consumption slowdown and tough competition means caution is essential when building up a position.

This from Money Morning:

Apple Inc. (Nasdaq: AAPL) used to rule its niche world and will continue to do so, with lots of room to grow.

As Coldplay’s “I used to rule the world…” played softly on the outside stereo speakers of my sailboat “Southern Cross” as my family and I pleasantly glided by Execution Rock on a gorgeous Sunday afternoon in the Long Island Sound, I could not stop myself from thinking how the song got there.  It was coming out of my daughters’ Apple iPod, interfacing with the boat’s new iPod-ready stereo system. 

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Apple Inc. (Nasdaq: AAPL) used to rule its niche world and will continue to do so, with lots of room to grow. As Coldplay’s “I used to rule the world…” played softly on the outside stereo speakers of my sailboat “Southern Cross” as my family and I pleasantly glided by Execution Rock on a gorgeous Sunday afternoon in the Long Island Sound, I could not stop myself from thinking how the song got there.  It was coming out of my daughters’ Apple iPod, interfacing with the boat’s new iPod-ready stereo system.  And I was wondering whether it was time to get into Apple’s stock.  Yes … even on a weekend sail. Apple in My Home I have been patiently waiting to get into Apple for a long time. And now the market was tanking, sending good companies’ stock prices down with bad ...

Working to find a new natural resource deposit holds many intangibles, not the least of which is the fact that a company is drilling or digging a small hole thousands of feet into a relatively unknown medium. The company may have an idea what they will find, but this is not the same as a certainty. This is just the nature of the game. This variable, however, is not the only one that dictates whether a natural resource company is a winner or a loser in the game of exploration and development. The market for the resource also needs to align for a solid profit. If, however, each variable does pan out, a nice profit will likely result for the investor who times his decisions correctly.

Kentucky USA Energy Inc., an early-stage oil and gas exploration and development company, works to exploit oil and natural gas deposits primarily in Western Kentucky.

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The commodity correction continues. And it's getting more painful by the minute as big trading houses like Lehman and Merrill Lynch go belly up or are forced into mergers. I think we're seeing a margin call on a global scale. The good news is it should bring incredible opportunities for long-term investors. The bad news is we could see a lot more pain before this is over. A "margin call" is when an investment, bought with borrowed money, decreases in value past a certain point, and an investor either has to put up more money or sell the investment. And we're seeing margin calls as Lehman and others liquidate their trading books. What's more, we're seeing margin calls in oil. Speculators pushing prices down Now, here's where I eat ...

by Edward Hugh: Barcelona

Executive SummaryIndia’s latest run of strong economic growth and continuing macroeconomic stability is a tribute the important progress made in recent years in macroeconomic management techniques as well as to an earlier generation of structural reforms. India’s economy has now expanded at an average rate of about 8½ percent for four years running, on the back of rising productivity and sustained investment. Inflation after ebbing in the second half of 2007 has now returned in full force and become one of the most pressing macro problems facing the Indian economy. In fact the record capital inflows which have followed the bout of global financial turbulance and a slowing U.S. economy, while in the long run beneficial, have only served to complicate the application of sound monetary policy. The current account deficit, which had remained modest, is now – on the back of high oil

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India's inflation accelerated again in mid July, and hit it highest level since 1995, providing additional evidence to support last week's central bank decision to raise borrowing costs for the third time in two months. Wholesale prices were up 11.98 percent in the week to July 19, after rising 11.89 percent in the previous week, according to data from the commerce ministry released in New Delhi on Friday.

The Reserve Bank of India raised its repurchase rate by a half-percentage point to 9 percent on 29 July, giving priority to the inflation fight over India's short term growth rate. Indeed many economists consider that the bank may well increase the benchmark rate again in the next three months. The cash reserve ratio was also raised 8.75 to 9 percent and in the statement which followed the decision the bank said it

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