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STock Market 

(27-04-2011)
  • Pharma nerves hit global stocks, dollar wobbles before Fed gathering

    Traders work at their desks in front of the German share price index DAX board in FrankfurtEuropean stocks saw their biggest fall in three weeks on Thursday and currency markets were noticeably subdued as investors took to sidelines ahead of one of the big global central banker gatherings of the year. Japanese and Chinese stocks had suffered modest drops in Asia and the pace picked up in Europe as London's FTSE sank 0.4 percent and Frankfurt and Paris lost as much as 1.2 percent in a region-wide slide. Wall Street was also set for an all-red start for its main S&P 500 , Dow and Nasdaq indexes where weekly jobless claims, big ticket goods and Markit PMI data is on the slate.


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  • TD Bank third-quarter earnings beat market expectations

    Toronto-Dominion Bank logos are seen outside of a branch in OttawaTORONTO (Reuters) - Toronto-Dominion Bank , Canada's second-biggest lender, reported third-quarter earnings that were ahead of market expectations on Thursday, helped by growth in its U.S. retail and wholesale banking business. The bank said its earnings, excluding one-off items, rose to C$1.27 per share in the third quarter which ended on July 31 from C$1.20 a year earlier. Analysts on average had expected earnings of C$1.21, according to Thomson Reuters I/B/E/S. Rivals Royal Bank of Canada and Bank of Montreal also reported results that beat market forecasts this week. ...


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  • Sibanye Gold H1 earnings surge, focus on safety

    A sign board is seen near the Sibanye gold mine in WestonariaSouth African-focused bullion and platinum producer Sibanye Gold posted a six-fold surge in interim earnings on Thursday on a sharply higher rand-gold price and said it was refocusing on safety after a spike in fatalities. The company said it had appointed veteran executive Peter Turner to head up safety for the group. Safety has been back in the spotlight in South Africa, home to the world's deepest mines, after an increase in fatalities across the industry this year after the death toll had fallen for seven consecutive years.


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  • Asia stocks hold gains before Yellen speech, dollar firm

    Federal Reserve Chair Janet Yellen holds a news conference in WashingtonBy Saikat Chatterjee HONG KONG (Reuters) - Asian stocks edged higher on Thursday but clung to recent well-worn trading ranges while the dollar held firm against regional currencies ahead of a speech by Federal Reserve Chair Janet Yellen at a global central bankers' meeting. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.3 percent higher. Japan's Nikkei was down 0.3 percent, pressured by losses on Wall Street overnight and investor caution ahead of Yellen's speech in Jackson Hole, Wyoming, on Friday.


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  • Asian markets mixed ahead of speech by Fed's Janet Yellen

    Asian markets mixed ahead of speech by Fed's Janet YellenWhile Asian stock market indices were trading mixed on Thursday (25 August), the Shanghai Composite was down 0.88% at 3,058.72 as of 5.57am GMT. Traders are reportedly eager to listen to Fed Chair Janet Yellen's speech on Friday (26 August) at the annual economic policy symposium in Jackson Hole, US.


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  • Key Indian equity indices trade higher
    Mumbai, Aug 25 (IANS) Key Indian equity market indices opened in the green on Thursday despite a drop in the Asian markets and at the Wall Street ahead of the Federal Reserve Chair Janet Yellen's speech.More

  • Wall Street stocks retreat, oil tumbles on oversupply concerns

    Traders work on the floor of the NYSEBy Hilary Russ NEW YORK (Reuters) - Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0 percent on worries about oversupply. Mylan slumped 5.4-percent to $43.15 after U.S. presidential candidate Hillary Clinton joined a Senate committee in asking why the cost of its allergy treatment EpiPen had soared. Gold fell to a one-month low as the U.S. dollar firmed and markets looked ahead to a speech by Federal Reserve Chair Janet Yellen on Friday that will be closely watched for further clues on U.S. interest rate policy.


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  • Wall St. falls as healthcare, materials stumble

    Traders work on the floor of the NYSEBy Chuck Mikolajczak NEW YORK (Reuters) - Wall Street retreated on Wednesday, pulled lower by weakness in the materials and healthcare sectors as investors continued to weigh the possibility of an interest rate hike in the coming months. The market is awaiting Federal Reserve Chair Janet Yellen's speech in Jackson Hole, Wyoming, on Friday for insight on the direction of monetary policy. Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal a hike in September.


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  • China's CITIC Securities posts 58 pct fall in H1 profit
    CITIC Securities Co Ltd , China's biggest brokerage, said on Wednesday its first-half net profit fell 58.0 percent, hurt by lower stock prices and a volatile stock market that made investors cautious and curbed their trading. Net profit for the six months to June fell to 5.24 billion yuan ($787.82 million) from 12.47 billion yuan a year earlier, the company said on Wednesday. In its preliminary report, CITIC had said its brokerage business, securities investment business and credit transaction business suffered a year-on-year decrease for the first half under the influence of overall market conditions.More

  • World stocks ease, dollar holds ground as U.S. rate bets abound

    Traders work at their desks in front of the German share price index DAX board in FrankfurtBy Jamie McGeever LONDON (Reuters) - Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy. This uneasy balance helped push the U.S. yield curve, the difference between 10-year and two-year yields, to its flattest in a month. Asian and world stock indices succumbed to profit-taking after reaching one-year highs earlier this month, while U.S. futures pointed to a lower open on Wall Street.


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  • Lumbering state companies become hot stock market bet

    The Wider Image: Fuel prices around the worldBy Manoj Rawal and Abhirup Roy MUMBAI (Reuters) - India's state-owned companies, from builders such as NBCC to oil firms such as Bharat Petroleum Corp Ltd, are attracting top investors as cheap valuations, improving earnings, and share buybacks make them stand out in an otherwise expensive market. Many of the biggest state-owned companies are in the oil and gas sector, which is benefiting handsomely from a government decision allowing them to set prices - effectively turning them into regular profit-seeking businesses. As a result the Nifty Public Sector Enterprises (PSE) Index has surged nearly 17 percent since the start of June, handily beating the 6 percent gain in the broader Nifty 50 index, or NSE index, over the same period.


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  • Stocks ease, dollar holds ground as U.S. rate bets abound

    A man walks in front of an electronic board showing Japan's Nikkei average outside a brokerage in TokyoBy Jamie McGeever LONDON (Reuters) - Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy. This uneasy balance helped push the U.S. yield curve, the difference between 10-year and two-year yields, to its flattest in a month. Asian and world stock indices succumbed to profit-taking after reaching one-year highs earlier this month, while U.S. futures pointed to a lower open on Wall Street.


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  • Glencore earnings fall 13% to $4.02bn as company presses ahead with its turnaround plan

    Glencore earnings fall 13% to $4.02bn as company presses ahead with its turnaround planGlencore, a miner and commodity trader, posted lower earnings but added its turnaround plan to cut debt through asset sales was on track. It said earnings in the first six months of its year tumbled 13% to $4.02bn (£3.05bn), with the firm suffering from softer commodity prices and lower production volumes as world trade slows. The Swiss-based group said it has sold $3.9bn of assets since last September as part of its recovery plan to reduce debt built up over years of expansion.


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  • Asian markets trade mixed as US reports strong housing data

    Asian markets trade mixed as US reports strong housing dataWhile Asian stock market indices were trading mixed on Wednesday (24 August), the Shanghai Composite was down 0.02% at 3,089.00 as of 6.10am GMT, following a positive close overnight on Wall Street amid positive US housing data.


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  • PRESS DIGEST - Wall Street Journal - Aug 24
    Aug 24 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy. - Two former Goldman Sachs Group traders snapped upbeaten-down mortgage bonds, wagering that unusual wording intheir contracts would net them millions when a bank settlementpaid out. http://on.wsj.com/2bdZ62x - The U.S. is considering providing military support forhundreds of Turkish-backed rebels massing at the border withSyria for a major offensive meant to sever Islamic State supplyroutes. http://on.wsj.com/2bfbrxZ - A magnitude 6. ...More

  • Housing sector lifts U.S., European stocks; oil pares gains

    Traders work on the floor of the NYSEBy Hilary Russ NEW YORK (Reuters) - Homebuilders provided a modest lift to both U.S. and European stock markets on Tuesday, while oil prices got a brief boost from Iran's positive signals on an output freeze. On Wall Street, technology companies led the Nasdaq to a record intraday high and robust housing market data strengthened the case for a firming economy. Housing stocks jumped 2 percent after the Commerce Department reported new U.S. single-family home sales soared unexpectedly in July to near nine-year highs.


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  • TSX rises to one-week high as banks rally on BMO's earnings

    A man walks past an old Toronto Stock Exchange sign in TorontoBy Fergal Smith TORONTO (Reuters) - Canada's main stock index edged up to a one-week high on Tuesday as better-than-expected earnings for Bank of Montreal supported bank stocks, offsetting losses for the materials group. Bank of Montreal rose 2.2 percent to C$86.27. Canada's fourth largest bank reported quarterly results which beat analysts' expectations, benefiting from strength in its commercial banking and capital markets businesses.


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  • Bank of Montreal eyes deals after earnings beat forecasts

    The logo for the Bank of Montreal is seen at its branch TorontoBy Matt Scuffham TORONTO (Reuters) - Bank of Montreal said on Tuesday it would continue to look for acquisitions after reporting quarterly results which beat analysts' expectations, benefiting from strength in its U.S. commercial banking business. Canada's fourth-largest lender has expanded in the United States to help counter sluggish growth in its domestic market. The bank recently acquired General Electric Co's transportation finance business in the U.S. and Canada and agreed to buy advisory firm Greene Holcomb Fisher in June this year.


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  • AIG in talks to sell Lloyd's insurance business to CPPIB - WSJ

    People exit the AIG building in New York's financial district(Reuters) - American International Group Inc is in early talks to sell Lloyd's of London Ltd's [SOLYD.UL] insurance operations to Canada Pension Plan Investment Board (CPPIB), the Wall Street Journal reported on Tuesday. If the deal comes through, it could fetch the insurance conglomerate hundreds of millions of dollars in proceeds, the Journal reported, citing people familiar with the matter. CPPIB is also in talks to buy a related reinsurance company based in Bermuda, the WSJ reported.


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  • U.S. equity fund managers see reason to worry ahead of September

    Traders work on the floor of the NYSEThe rally in U.S. stocks since late June is prompting some mutual fund managers to prepare for a rocky September. In part, the concerns are seasonal: September has seen more monthly declines of 5 percent or more in the S&P 500 than any other month since 1945 and is tied with August for the worst month in average returns overall, according to S&P Capital IQ. Poor corporate earnings or outlooks for the upcoming year, mutual funds selling before the end of their fiscal years and reduced capital inflows all work against the stock market in September, said Sam Stovall, U.S. equity strategist at S&P Global Market Intelligence.


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