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NEW YORK
INT6International/Business/EconomyUS stocks rally on energy, technology shares New York, Nov 19 DPA US stocks rallied at day's end Tuesday as energy and technology shares led the way and investors snapped up bargain basement prices. The three major indices closed up despite a drop in confidence among homebuilders that was the lowest since record-keeping began in 1985, Bloomberg financial news service reported. Hewlett-Packard Co jumped 14 percent as earnings topped analysts' estimates, while Exxon Mobil Corp climbed more than 4 percent. The US rally reflected worldwide share increases rally as London's FTSE 100 index added 1.85 percent, France's CAC 40 was up 1.11 percent and Germany's DAX rose 0.49 percent. "A number of industries' and sectors' stocks have fallen by huge percentages over the past year and appear to be at pretty attractive valuations based on historical measures," Dean Gulis, part of a group that manages about $2.5 billion for Loomis Sayles & Co in Bloomfield Hills, Michigan, was quoted as saying. The Standard & Poor 500 Index is down more than 41 percent so far this year and was headed for its worst year since 1931, in the midst of the Great Depression. Bloomberg news was projecting an 8.5 percent drop in full year earnings for companies in the index. The blue-chip Dow Jones Industrial Average climbed 151.17 points or 1.83 percent to 8,424.75. The broader Standard & Poor's 500 Index rose 8.37 points, or 0.98 percent, to 859.12. The high-tech Nasdaq Composite increased 1.22 points, or 0.08 percent, to 1,483.27. The US currency rose to 79.25 euro cents from 79.15 cents on Monday. Against the Japanese currency, the dollar climbed to 97.01 yen from 96.34 yen Monday.--DPA318 Words*19110645
2008-11-19 03:00:00
Oil for Soil: Towards a Grand Bargain on Iraq and the Kurds
"A long-festering conflict over Kirkuk and other disputed territories is threatening to disrupt the current fragile relative peace in Iraq by blocking legislative progress and political accommodation," argues the International Crisis Group ICG, an NGO, in an October report.
2008-11-16 08:49:25
Dollar rebounds to upper 95 yen level
The U.S. dollar rebounded to the upper 95 yen level Thursday in Tokyo on bargain hunting. At 5:00 p.m., the dollar fetched 95.65-67 yen versus 94.98-95.08 yen in New York and 97.94-97 yen in Tokyo at 5:00 p.m. Wednesday. It traded between 94.53 yen and 96.10 yen during the day, changing hands most frequently at 95.60 yen. The euro also climbed against yen and traded at 1.2407-2408 dollars and 118.67-71 yen against 1.2500-2510 dollars and 118.76-86 yen in New York and 1.2603-2606 ...
2008-11-14 05:25:22
Wall Street falls amid corporate concerns
Wall Street swung between losses and gains Thursday and went lower again, after three straight days of decline and as investors digested a jump in jobless claims and dismal earnings outlook. Investors looked for bargains as energy shares were traded at their cheapest valuations on record, which sent major indexes slightly higher in early trading. Exxon Mobil Corp. and Chevron Corp. led rebound of energy stocks as oil rebounded from a 21-month low. However, the U.S. Labor Departme ...
2008-11-14 05:30:22
Wall Street rallies after three-day plunge
Wall Street rallied Thursday as investors hunt bargain after three straight days of decline. Standard & Poor's index jumped 6 percent in the final hour, as investors snapped up the cheapest energy shares on record and real-estate companies gained after CB Richard Ellis Inc. raised cash in a share sale. Exxon Mobil Corp. and Chevron Corp. led gains in all 40 energy producers in the S&P 500 and helped the Dow Jones Industrial Average rebound from a 317-point drop. Declines ...
2008-11-14 05:28:22
US stocks rise on bargain buying
American shares rise strongly as bargain hunters pick up cheap stocks following three straight days of falls.
2008-11-13 18:00:12
Striking a bargain
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2008-11-11 09:03:11
Weak pound luring euro shoppers
The weak pound helps London retailers to weather the economic downturn as it draws overseas bargain-hunters.
2008-11-11 02:23:15
Brits can't resist a chat about weather
A TYPICAL British person enjoys talking about the weather, is great at queueing and loves sarcasm, according to a new survey. And when they are not watching trashy soaps, getting drunk or shopping for bargains,...
2008-11-00 00:00:00
Academics argue for record pay rise
Lecturers are to fight for a record-breaking pay rise from employers next year despite the current economic downturn.Members of the Universities...
2008-11-10 08:13:16