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Print - 2008-07-26
Brazil to announce coffee subsidy by early August

Brazil to announce coffee subsidy by early August

Brazil's government will announce a financial support by August for coffee farmers in the world's top grower, as the 2008/09 harvest slowly gathers pace, the National Coffee Council (CNC) said late on Thursday.
Published 26 Jul, 2008 12:00am
US Midwest corn bids rise; soyabeans steady

US Midwest corn bids rise; soyabeans steady

Spot basis bids for corn rose at processors and elevators around the US Midwest on Thursday while soyabean bids held steady at most locations, grain dealers said. Farmer selling of both commodities was light on Thursday, an Illinois dealer said.
Published 26 Jul, 2008 12:00am
Lint prices, spot rate fall on cotton market

Lint prices, spot rate fall on cotton market

After hitting the season's peak, the prices came down modestly on the cotton market on Friday, dealers said. Resultantly, the Karachi Cotton Association (KCA) official spot rate fell by Rs 25 to Rs 3900, dealers said. In the ready business, phutti prices
Published 26 Jul, 2008 12:00am
No change on grain market

No change on grain market

No changes were seen on grain market on Friday as participants were busy in the Juma prayers, dealers said.
Published 26 Jul, 2008 12:00am
Raw rubber higher on Jodia Bazaar

Raw rubber higher on Jodia Bazaar

The trading in raw rubber Ceylon items moved higher on Jodia Bazaar here on Friday. The following changes were noted.
Published 26 Jul, 2008 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin dropped 2.8 percent on Friday, following a sharp fall in London Metal Exchange prices, one dealer said.
Published 26 Jul, 2008 12:00am
US rice softens

US rice softens

US rice futures closed lower on Thursday, weighed down by increasing global rice production. CBOT rice closed 6 to 10 cents per cwt lower, with September down 10 at $16.67 per cwt. Pakistan's rice output may rise 10 percent this year. United States Depart
Published 26 Jul, 2008 12:00am
US copper slips

US copper slips

The price of copper tumbled to a six-week low in New York futures trade on Thursday as liquidation pressures mounted in the face of a stronger dollar and global economic growth concerns. Copper for September delivery settled down 8.05 cents or 2.2 percent
Published 26 Jul, 2008 12:00am
Sugar futures rise in New York

Sugar futures rise in New York

Raw sugar futures finished up on Thursday after late investor buying drove the market to near its highs for the day and the sweetener may use the momentum to edge up tomorrow, brokers said. The October raw sugar contract went up 0.15 cent to conclude at 1
Published 26 Jul, 2008 12:00am
US soyabean down

US soyabean down

US soybean futures closed lower on Thursday on good crop weather in the US Midwest, traders said. Pressure also stemmed from increased export competition from Argentina following last week's decision by the government to scrap a hike on taxes for soy expo
Published 26 Jul, 2008 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures fell on Friday as players took profit despite news of higher July 1-25 palm oil exports. Cargo surveyor Intertek Testing Services said exports of Malaysian palm oil products for July 1-25 rose 26 percent to 1,132,797 tonne
Published 26 Jul, 2008 12:00am
Tokyo rubber higher

Tokyo rubber higher

Tokyo rubber futures climbed more than 1 percent to briefly touch 333 yen on Friday, helped by firmer crude oil prices and strong physical rubber prices. Some traders warned, however, that the rubber futures market may be losing some of the upward momentu
Published 26 Jul, 2008 12:00am
Oil rises above $126

Oil rises above $126

Oil rose above $126 a barrel on Friday, extending a rebound a day earlier that helped stem a nearly two-week dive as buyers crept back into the market before the weekend, superceding lingering demand worries.
Published 26 Jul, 2008 12:00am
New York sues UBS, alleges auction-rate fraud

New York sues UBS, alleges auction-rate fraud

New York State sued UBS AG on Thursday, accusing the Swiss bank of committing a "multi-billion dollar fraud" by steering broker clients into auction-rate securities that became impossible to sell once the credit market tightened. The lawsuit, filed by New
Published 26 Jul, 2008 12:00am
Japanese consumer inflation at another decade-high

Japanese consumer inflation at another decade-high

Japan's core annual inflation hit a new decade-high in June on rises in energy costs, but with most other prices stable the data contained little that would distract the Bank of Japan from fears of an economic recession. With few signs that rising commodi
Published 26 Jul, 2008 12:00am
Indian villagers burn Dow Chemical building site

Indian villagers burn Dow Chemical building site

About 100 people worried about industrial pollution set fire to a construction site of a local unit of Dow Chemical Co in western India on Friday, police and a Dow official said. The company is setting up a research and development centre with an initial
Published 26 Jul, 2008 12:00am
Britain's economy slows

Britain's economy slows

Britain's economy grew at its weakest pace in three years in the second quarter of this year, official data showed on Friday, but few analysts are betting interest rates will fall any time soon.
Published 26 Jul, 2008 12:00am
US consumers, home sales paint less gloomy picture

US consumers, home sales paint less gloomy picture

US consumer sentiment rebounded in July from a 28-year low and business investment rose unexpectedly last month, according to data on Friday that showed rare signs of resilience for the US economy. Data from the struggling housing market also contributed
Published 26 Jul, 2008 12:00am
'Opec oil output rising'

'Opec oil output rising'

Opec's oil output is expected to rise by 200,000 barrels per day in July from June because of higher supplies from Saudi Arabia and Iraq, industry consultant Petrologistics said on Friday. The boost from the Organisation of the Petroleum Exporting Countri
Published 26 Jul, 2008 12:00am
Housing bill clears hurdle

Housing bill clears hurdle

The US Senate voted on Friday to limit debate on a bill aimed at shoring up both the housing market and mortgage finance companies Fannie Mae and Freddie Mac, paving the way for a final vote expected on Saturday. Earlier this week, the White House lifted
Published 26 Jul, 2008 12:00am
British Energy agrees $24.6 billion EDF bid

British Energy agrees $24.6 billion EDF bid

Nuclear operator British Energy has agreed to be taken over by French utility EDF for around 12.4 billion pounds ($24.61 billion), a source briefed on the matter said on Friday. The source told Reuters EDF had agreed terms of the offer of about 775 pence
Published 26 Jul, 2008 12:00am
Los Angeles sues bond insurers, Wall Street banks

Los Angeles sues bond insurers, Wall Street banks

The city of Los Angeles has sued more than 30 Wall Street investment banks and municipal bond insurers, accusing them of reaping hundreds of millions of taxpayer dollars in illegal profits, while other California cities are preparing similar lawsuits.
Published 26 Jul, 2008 12:00am
Los Angeles sues bond insurers, Wall Street banks

Los Angeles sues bond insurers, Wall Street banks

The city of Los Angeles has sued more than 30 Wall Street investment banks and municipal bond insurers, accusing them of reaping hundreds of millions of taxpayer dollars in illegal profits, while other California cities are preparing similar lawsuits.
Published 26 Jul, 2008 12:00am
Exxon, BHP approve $1.3 billion Australia Turrum project

Exxon, BHP approve $1.3 billion Australia Turrum project

US energy giant ExxonMobil Corp and partner BHP Billiton Ltd on Friday approved their A$1.4 billion ($1.35 billion) Turrum oil and gas project off Australia's south-east coast to meet rising domestic demand. The Turrum development holds reserves of about
Published 26 Jul, 2008 12:00am
Mbeki lauded at landmark SA-EU summit

Mbeki lauded at landmark SA-EU summit

South Africa and the European Union Friday wrapped up a landmark summit with Brussels solidly backing Pretoria's mediating role in Zimbabwe as the only way of ending ruinous political chaos. French President Nicolas Sarkozy - whose country holds the rotat
Published 26 Jul, 2008 12:00am
China to seek balance of growth, inflation

China to seek balance of growth, inflation

China's priority for economic policy in the second half will be to maintain growth at a healthy clip while fighting inflation, the top leadership of the ruling Communist Party said on Friday. The conclusions of a meeting of the Politburo mark a departure
Published 26 Jul, 2008 12:00am
Honda beats first quarter estimates but sees tougher year ahead

Honda beats first quarter estimates but sees tougher year ahead

Honda Motor Co's quarterly earnings handily beat market estimates but it cut its annual profit and global car sales forecasts as it battles with rising costs for raw materials and a crumbling US auto market. Quarterly net profit at Japan's No 2 automaker
Published 26 Jul, 2008 12:00am
Honda beats first quarter estimates but sees tougher year ahead

Honda beats first quarter estimates but sees tougher year ahead

Honda Motor Co's quarterly earnings handily beat market estimates but it cut its annual profit and global car sales forecasts as it battles with rising costs for raw materials and a crumbling US auto market. Quarterly net profit at Japan's No 2 automaker
Published 26 Jul, 2008 12:00am
Malaysia central bank keeps rates on hold

Malaysia central bank keeps rates on hold

Malaysia's central bank kept interest rates on hold on Friday, defying expectations soaring inflation would spur it into action even as the economy slows and political uncertainty weighs. Bank Negara held its key rate at 3.50 percent for the 18th straight
Published 26 Jul, 2008 12:00am
Australia's NAB takes $800 million hit from US debt

Australia's NAB takes $800 million hit from US debt

National Australia Bank Ltd (NAB), the nation's top lender, booked another A$830 million ($798 million) in losses from its exposure to US mortgages, sending its shares down as much as 15 percent.
Published 26 Jul, 2008 12:00am
Samsung Electronics second quarter net misses forecast

Samsung Electronics second quarter net misses forecast

Samsung Electronics Co Ltd posted a lower-than-expected quarterly profit and faces a tough second half with a sluggish memory chip market and lower margins in flat screens and mobile phones. Shares in the $84 billion South Korean firm, the world's top mak
Published 26 Jul, 2008 12:00am
Samsung Electronics second quarter net misses forecast

Samsung Electronics second quarter net misses forecast

Samsung Electronics Co Ltd posted a lower-than-expected quarterly profit and faces a tough second half with a sluggish memory chip market and lower margins in flat screens and mobile phones. Shares in the $84 billion South Korean firm, the world's top mak
Published 26 Jul, 2008 12:00am
Jakarta shares slip

Jakarta shares slip

Indonesian shares slipped 0.5 percent on Friday, dragged down by flagging Asian markets and falling US stocks, dealers said. The Jakarta Composite Index shed 11.71 points to 2,245.34 on volume of 2.65 billion shares worth 4.35 trillion rupiah (482.85 mill
Published 26 Jul, 2008 12:00am
Malaysian shares little changed

Malaysian shares little changed

Malaysian share prices closed little changed on Friday as investors remained on the sidelines ahead of the central bank's decision on interest rates, dealers said. The Kuala Lumpur Composite Index ended at 1,141.75 on volume of 401 million shares worth 86
Published 26 Jul, 2008 12:00am
Hong Kong shares slump 1.5 percent

Hong Kong shares slump 1.5 percent

Hong Kong shares dropped 1.5 percent on Friday, as analysts predicted the end of a short-lived global rally after disappointing US home sales data rekindled worries over the health of financial markets. But the main index rose 4 percent over the week, pos
Published 26 Jul, 2008 12:00am
US stocks decline, led by financials

US stocks decline, led by financials

US stocks tumbled more than 2 percent on Thursday after a report showing yet another drop in US home sales prompted investors to take profits in financial shares, which had rallied over the past week. The Dow fell the most in a month, as the rising price
Published 26 Jul, 2008 12:00am
US Treasury prices end firmer

US Treasury prices end firmer

US Treasury debt prices rose on Thursday, reversing re plaguing the US economy. The surprisingly weak data sparked investors to shun stocks and other risky assets and favour safer investments like Treasuries, analysts said.
Published 26 Jul, 2008 12:00am
US Treasury prices end firmer

US Treasury prices end firmer

US Treasury debt prices rose on Thursday, reversing re plaguing the US economy. The surprisingly weak data sparked investors to shun stocks and other risky assets and favour safer investments like Treasuries, analysts said.
Published 26 Jul, 2008 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan stocks fell 1.82 percent on Friday, with AU Optronics Corp leading technology shares lower after the island's top LCD maker forecast lower screen prices. The main TAIEX share index closed down 134.46 points at 7,233.62, ending a two-day rally that
Published 26 Jul, 2008 12:00am
China stocks close 1.6 percent down

China stocks close 1.6 percent down

Chinese stocks dropped on Friday, led by coal producers after authorities imposed fresh coal price controls. Financials and property shares were soft after leading sharp gains on Thursday. The Shanghai Composite Index ended Friday down 1.55 percent at 2,8
Published 26 Jul, 2008 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices closed 1.85 percent lower on Friday in cautious trade after Wall Street fell on the release of weak US housing market data, dealers said. The blue chip Straits Times Index fell 55.00 points to 2,922.91 on light volume of 834.57 mill
Published 26 Jul, 2008 12:00am
Nikkei drops two percent

Nikkei drops two percent

The Nikkei share average slid 2 percent on Friday after sharp gains this week, as investors sold exporters such as Toyota Motor Corp on concerns about the health of the US economy and a stronger yen.
Published 26 Jul, 2008 12:00am
Philippines shares sag

Philippines shares sag

Philippines share prices closed down 0.9 percent on Friday in a technical correction after rising five percent in the previous two sessions, dealers said. The composite index gave up 23.19 points to 2,512.72, while the all shares index lost 13.40 points t
Published 26 Jul, 2008 12:00am
Indian shares dip 3.4 percent

Indian shares dip 3.4 percent

India's share prices slumped 3.4 percent on Friday as global markets fell on troubling economic data in the United States and Britain, raising fresh concerns over sluggish growth. The benchmark 30-share Sensex index fell 502.07 points or 3.4 percent to 14
Published 26 Jul, 2008 12:00am
Canadian dollar slides

Canadian dollar slides

The Canadian dollar fell 0.3 percent against a stronger US dollar on Thursday, as weak data out of Europe had investors buying greenbacks, with a sharp drop in equities adding to the negative atmosphere. Domestic bond prices rallied on a flight to safety,
Published 26 Jul, 2008 12:00am
Yuan edges up versus dollar

Yuan edges up versus dollar

The yuan rose slightly against the dollar in the spot and offshore forwards markets on Thursday after the Chinese central bank set its daily yuan mid-point only slightly lower, despite the dollar's surge on global markets.
Published 26 Jul, 2008 12:00am
Dollar falls after weak US data

Dollar falls after weak US data

The dollar dropped against the yen on Friday, extending falls from a one-month high hit the previous day on disappointing news on the US housing sector and steep losses on Wall Street. US jobless claims have jumped and the pace of existing home sales has
Published 26 Jul, 2008 12:00am
Dollar slides versus yen

Dollar slides versus yen

The dollar fell against the yen on Thursday, dragged down by disappointing news in the US housing sector and steep losses on Wall Street. However, the greenback was slightly higher against the euro, which came under pressure as soft data cooled expectatio
Published 26 Jul, 2008 12:00am
Australian dollar nurses losses

Australian dollar nurses losses

The Australian dollar stayed under pressure on Friday, hurt by news the nation's top lender was booking more losses from its exposure to toxic debt and growing speculation domestic interest rates have peaked. The Aussie was at $0.9584/89 against the US do
Published 26 Jul, 2008 12:00am
Weaker stocks weigh on Asian currencies

Weaker stocks weigh on Asian currencies

Most Asian currencies fell on Friday after US housing and jobs data reignited worries about the global credit crisis and hit stock markets across the region, but lower oil prices offered some support. The Taiwan dollar fell 0.1 percent to 30.446 per US do
Published 26 Jul, 2008 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc rose against the dollar on Friday reflecting its safe haven characteristics as investors increasingly shied away from risks and moved out of equities.
Published 26 Jul, 2008 12:00am
Four-wicket Murali sparks India's collapse

Four-wicket Murali sparks India's collapse

Muttiah Muralitharan triggered India's collapse with four quick wickets to boost Sri Lanka's hopes of enforcing a follow-on in the third Test here on Friday. The wily off-spinner grabbed 4-38 as India struggled to reach 159-6 in their first innings at stu
Published 26 Jul, 2008 12:00am
T20 Champions League put off in India

T20 Champions League put off in India

Cricket's multi-million dollar Twenty20 Champions League has been postponed, an Indian official said on Friday, amid reports of wrangling over terms and conditions. The inaugural football-style League, featuring the top two Twenty20 domestic sides from En
Published 26 Jul, 2008 12:00am
Chavanel wins Tour de France 19th stage

Chavanel wins Tour de France 19th stage

France's Sylvain Chavanel of the Cofidis team won the 19th stage of the Tour de France, a 165.5-km ride from Roanne to Montlucon on Friday. He beat compatriot Jeremy Roy of the Francaise des Jeux team, with German Gerald Ciolek coming home third for Team
Published 26 Jul, 2008 12:00am
Federer seeks golden tonic in Beijing

Federer seeks golden tonic in Beijing

Roger Federer's crown has lost its lustre and a shiny medal of Olympic gold would be very welcome for the king of men's tennis. After being thrashed by Rafael Nadal in the French Open final, the Swiss maestro lost again at Wimbledon to the Spaniard who wo
Published 26 Jul, 2008 12:00am
South African players union has 'serious concerns'

South African players union has 'serious concerns'

The South African players' union voiced "serious concern" on Friday over the safety situation in Pakistan after world cricket chiefs decided not to change the venue of September's Champions Trophy.
Published 26 Jul, 2008 12:00am
ICC Champions Trophy faces pullout threat

ICC Champions Trophy faces pullout threat

Holders Australia and other key nations could pull out of the sixth Champions Trophy after the International Cricket Council decided to go ahead with the tournament in Pakistan, officials said on Friday. The Australian and New Zealand players' association
Published 26 Jul, 2008 12:00am
Serb prosecutor sees Karadzic extradited next week

Serb prosecutor sees Karadzic extradited next week

War crimes suspect Radovan Karadzic will be extradited to the United Nations tribunal in The Hague at the earliest on Monday, Serbia's chief war crimes prosecutor Vladimir Vukcevic said on Friday. The leader of the Bosnian Serbs in the 1992-95 Bosnia war,
Published 26 Jul, 2008 12:00am
Temple row with Thailand dominates Cambodian poll

Temple row with Thailand dominates Cambodian poll

Cambodians go to the polls on Sunday in an election overshadowed by a row with neighbouring Thailand over a 900-year-old temple that has inflamed nationalist passions and led to troop build-ups along the border.
Published 26 Jul, 2008 12:00am
Maliki invites Pope to visit Iraq to help peace

Maliki invites Pope to visit Iraq to help peace

Iraqi Prime Minister Nuri al-Maliki invited Pope Benedict on Friday to visit Iraq, saying it would help the process of reconciliation. Maliki, who met the pope for 20 minutes at the pontiff's summer residence, also denied in comments to reporters afterwar
Published 26 Jul, 2008 12:00am
Ruling party says Mugabe must lead unity government

Ruling party says Mugabe must lead unity government

Zimbabwean President Robert Mugabe's ruling party will not accept a power-sharing deal that fails to recognise his re-election or seeks to reverse his land reform programme, a state-owned newspaper said on Friday.
Published 26 Jul, 2008 12:00am
UN report cites 'lessons' from south Sudan attack

UN report cites 'lessons' from south Sudan attack

An internal report on the UN mission in Sudan admits "lessons" were learned from the way peacekeepers behaved during an attack on a disputed oil-rich town in which scores of civilians were killed.
Published 26 Jul, 2008 12:00am
Chavez makes up with king of Spain

Chavez makes up with king of Spain

Venezuelan President Hugo Chavez and Spain's King Juan Carlos shook hands and made up on Friday in their first meeting since the monarch told the president to "shut up" at a summit in November. A relaxed Chavez joked "Why don't we go to the beach?" as he
Published 26 Jul, 2008 12:00am
Rice sees shopping, not public office, in future

Rice sees shopping, not public office, in future

Condoleezza Rice on Friday ruled out running for office when her time ends as US Secretary of State, saying she was looking forward to shopping, music and the academic life. Rice gave insight into her future plans while addressing a girl's school in Austr
Published 26 Jul, 2008 12:00am
UN Security Council split on how to deal with Myanmar

UN Security Council split on how to deal with Myanmar

The UN Security Council was split on Thursday over how to push Myanmar to improve human rights and adopt democratic reforms as a UN special envoy prepared for a key visit to the Asian nation. After focusing on aid efforts in Myanmar since a May 2 cyclone
Published 26 Jul, 2008 12:00am
Air strike kills 40 Taliban, UK soldier dies

Air strike kills 40 Taliban, UK soldier dies

Forty Taliban were killed in air strikes to take back a district of Afghanistan captured by Islamist rebels while a British soldier was killed in a separate clash, officials said Friday. Afghan and Nato-led ground forces supported by international militar
Published 26 Jul, 2008 12:00am
US missile crew falls asleep with launch codes

US missile crew falls asleep with launch codes

A three-member US ballistic missile crew fell asleep while in possession of classified launch codes for nuclear missiles, the Air Force said on Thursday. But the launch codes were old and had been deactivated, and there was no actual security breach, acco
Published 26 Jul, 2008 12:00am
US still hopes for Israeli, Palestinian deal

US still hopes for Israeli, Palestinian deal

US Secretary of State Condoleezza Rice said on Friday there was still time for Israelis and Palestinians to reach a peace deal by the end of 2008. Rice said trilateral peace talks in Washington next week between the United States, Israel and the Palestini
Published 26 Jul, 2008 12:00am
Massive oil spill clogs Mississippi River

Massive oil spill clogs Mississippi River

Cleanup efforts were underway on Friday after a barge collided with a tanker in the Mississippi River, spilling more than 419,000 gallons (1.6 million litres) of fuel oil, the US Coast Guard said. Officials closed a 100-mile stretch of the river, from New
Published 26 Jul, 2008 12:00am
Qantas jumbo lands with 'gaping hole' in fuselage

Qantas jumbo lands with 'gaping hole' in fuselage

A Qantas Boeing 747 flying to Melbourne made an emergency landing in Manila on Friday after a dramatic mid-air rupture that punched a "gaping hole" in its fuselage, officials and passengers said. Stunned passengers reported how the jumbo, which had taken
Published 26 Jul, 2008 12:00am
45 killed as Congo boat sinks

45 killed as Congo boat sinks

At least 45 people were killed and another 100 were missing after a boat sank on a remote stretch of river in Democratic Republic of Congo, a local government official said on Friday. "Forty-five bodies have been recovered so far. The 112 people missing a
Published 26 Jul, 2008 12:00am
Thai anti-government protesters vent anger at oil firm

Thai anti-government protesters vent anger at oil firm

Thousands of protesters marched on Thailand's state-owned oil company on Friday, calling for its denationalisation a day after violent clashes between pro- and anti-government groups outside the capital.
Published 26 Jul, 2008 12:00am
Bitter blow to Brown in local election loss

Bitter blow to Brown in local election loss

Britain's ruling Labour Party lost one of its safest parliamentary seats on Friday, deepening doubts within the party about Prime Minister Gordon Brown's ability to win the next election. Defeat left Brown facing a bleak weekend as the party's main policy
Published 26 Jul, 2008 12:00am
Eight dead in collapse at China mosque site

Eight dead in collapse at China mosque site

At least eight people were killed and three seriously injured after a mosque being built in north-west China collapsed, state media reported on Friday. The mosque collapsed in Taer, a town of 38,000 people mainly from China's ethnic Hui minority in Qingha
Published 26 Jul, 2008 12:00am
Obama meets Sarkozy in Paris

Obama meets Sarkozy in Paris

Barack Obama met in Paris Friday with the pro-US President Nicolas Sarkozy on a world tour aimed at burnishing the White House hopeful's foreign policy credentials ahead of November elections. His plane, bearing the slogan "Change we can believe in," land
Published 26 Jul, 2008 12:00am
Bush orders expanded US sanctions on Zimbabwe

Bush orders expanded US sanctions on Zimbabwe

President George W. Bush on Friday signed an order expanding US sanctions against the "illegitimate" Zimbabwe government of President Robert Mugabe. "This action is a direct result of the Mugabe regime's continued politically-motivated violence," Bush sai
Published 26 Jul, 2008 12:00am
Sterling rallies

Sterling rallies

Sterling rallied against the dollar and euro on Friday after UK second quarter GDP met expectations, quelling earlier fears that economic growth had slowed more sharply. After data on Thursday showing the biggest slump in UK retail sales in over two decad
Published 26 Jul, 2008 12:00am
Indian rupee eases

Indian rupee eases

The Indian rupee moved further from a two-month peak on Friday as steep losses in the stock market reignited worries foreign investors would sell more holdings against a backdrop of slowing growth.
Published 26 Jul, 2008 12:00am
Dollar retreats in London

Dollar retreats in London

The dollar retreated from a two-week high versus a basket of major currencies on Friday, knocked by weaker-than-expected US housing and jobs data the previous session, lower equity markets and higher oil prices.
Published 26 Jul, 2008 12:00am
European credit spreads little changed

European credit spreads little changed

European credit spreads were little changed on Friday after narrowing slightly following stronger-than-expected data for US consumer confidence, new home sales and durable goods orders and as shares rose.
Published 26 Jul, 2008 12:00am
European credit spreads little changed

European credit spreads little changed

European credit spreads were little changed on Friday after narrowing slightly following stronger-than-expected data for US consumer confidence, new home sales and durable goods orders and as shares rose.
Published 26 Jul, 2008 12:00am
Asian bond spreads weaken

Asian bond spreads weaken

Asian bond spreads widened on Friday as weak global economic data and disappointing corporate earnings world-wide reinforced expectations for slowing growth at a time of surging inflation.
Published 26 Jul, 2008 12:00am
Asian bond spreads weaken

Asian bond spreads weaken

Asian bond spreads widened on Friday as weak global economic data and disappointing corporate earnings world-wide reinforced expectations for slowing growth at a time of surging inflation.
Published 26 Jul, 2008 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's blue chip index ended 0.2 percent lower on Friday, as banking and insurance stocks fell on a gloomy economic outlook, outweighing gains in commodities and retail sector shares. The commodity-heavy FTSE 100 closed down 9.7 points at 5,352.6, afte
Published 26 Jul, 2008 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

Cotton futures finished near a month high Friday on follow-through investment fund buying and brokers said the strong tone to fibre contracts would spill over into next week. The key December cotton contract settled up 0.64 cent at 74.50 cents per lb afte
Published 26 Jul, 2008 12:00am
Shanghai metals resist LME fall

Shanghai metals resist LME fall

London nickel futures extended their decline in Asian trading on Friday, but a sharp sell-off in London on Thursday had only a limited impact on Shanghai metal futures. Shanghai copper lost less than 0.5 percent after a 2 percent drop in LME copper narrow
Published 26 Jul, 2008 12:00am
Nickel sees two-year low

Nickel sees two-year low

Nickel hit a two-year low on Friday as worries about demand from stainless steel mills mounted, while copper was seen coming under pressure from fears of global economic slowdown. Three-month nickel on the London Metal Exchange touched $18,250 a tonne, th
Published 26 Jul, 2008 12:00am
Oil drops to fresh seven-week low

Oil drops to fresh seven-week low

Oil dropped $2 to a fresh seven-week low on Friday, extending a decline that has knocked more than $23 off crude in two weeks as high fuel prices continue to batter demand. US crude fell $2.23 to settle at $123.26 after falling to $122.50 earlier, the low
Published 26 Jul, 2008 12:00am
London cocoa, sugar and coffee slip

London cocoa, sugar and coffee slip

Cocoa, sugar and coffee prices all rose on Friday as consumer buying picked-up after the sharp sell-off across commodity markets during the last few days, dealers said. The markets advanced despite further losses in many other commodity markets as crude o
Published 26 Jul, 2008 12:00am
US gold seesaws

US gold seesaws

US gold futures seesawed early but ended a tad lower Thursday as a strong dollar and losses in gold exchange-traded fund holdings offset bargain hunting and oil's gains. August settles down 50 cents at $922.30 an ounce on the COMEX division of New York Me
Published 26 Jul, 2008 12:00am
Gold rises in Asia

Gold rises in Asia

Gold gained on Friday as a rebound in oil prices restored its appeal as a hedge against inflation but dealers said the metal must crack key technical levels to sustain the uptrend. Precious metals have been hit by heavy selling this week on declines in oi
Published 26 Jul, 2008 12:00am
Gold edges lower in London

Gold edges lower in London

Gold was softer on Friday, coming under pressure from weaker oil prices and a stronger dollar after better-than-expected economic data from the United States. Spot gold was down at $919.70/920.70 an ounce at 1419 GMT from $923.00/924.00 late in New York o
Published 26 Jul, 2008 12:00am
US MIDDAY: coffee and cocoa firm

US MIDDAY: coffee and cocoa firm

Arabica coffee and US cocoa futures moved higher in early trade Friday, as the dollar dropped and provided renewed buying interest. ICE Futures US September arabica contract was up 0.50 cent at $1.357 per lb by 9:12 am EDT (1312 GMT), spanning $1.3435 to
Published 26 Jul, 2008 12:00am
US MIDDAY: sugar steadies

US MIDDAY: sugar steadies

Raw sugar futures on ICE Futures US at 1228 GMT. October raw sugar contract was up 0.01 cent at 12.25 cents per lb. Trading 12.24 to 12.39 cents. Volume at 4,943 lots.
Published 26 Jul, 2008 12:00am
US MIDDAY: corn strengthens

US MIDDAY: corn strengthens

Corn was up 1/2 to 4-1/4 cents per bushel, with September was up 2-3/4 at $5.75-3/4 per bushel. Technical recovery amid oversold signals. Gains limited by weak crude oil and good crop weather in the US Midwest as the crop goes through its critical pollina
Published 26 Jul, 2008 12:00am
US MIDDAY wheat climbs

US MIDDAY wheat climbs

Wheat was up 5-1/4 to 10-3/4 cents per bushel, with September was up 8-1/4 at $7.96 per bushel. Seasonal post-harvest rally and technical gains amid oversold signals. Traders said large increase in global wheat production this year likely had been priced
Published 26 Jul, 2008 12:00am
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