19-05-09

[Guest]

NEW YORK: Wall Street stocks soared on Monday after better-than-expected earnings from home improvement retailer Lowe's helped reinforce hopes for recovery in the recession-struck economy.

The blue-chip Dow Jones Industrial Average leapt 235.44 points (2.85 percent) to 8,404.08 at the market close.

timesofindia.indiatimes.com/US-stocks-soar-Dow-up-235-pts/articleshow/4549466.cms

[News Update]

SINGAPORE: Oil prices fell in volatile Asian trade on Tuesday after soaring past the $59 mark overnight, dealers said.

New York's main futures contract, light sweet crude for delivery in June, was down five cents to $58.98 a barrel in morning trade. The June contract expires later Tuesday.

timesofindia.indiatimes.com/Oil-prices-below-59-in-Asian-trade/articleshow/4550094.cms

[News Update]

The Congress appears reluctant to include Samajwadi Party and Lalu Prasad's RJD in the new Union Cabinet despite their overtures, but the party may receive outside support from an unlikely quarter--Mayawati's BSP.

Sensing the ruling party's reluctance, Samajwadi chief Mulayam Singh Yadav said in Etawah that his party was ready to sit in the Opposition if its offer of "constructive support" was not accepted by the UPA.

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[News Update]

MUMBAI: The Indian rupee on Tuesday opened strong by 41 paise at 47.47 against the US currency, a day after it recorded its highest gain of 152 paise in more than decade, on anticipation of heavy foreign capital inflows as stock market may continue their rally on Tuesday.

timesofindia.indiatimes.com/Rupee-up-41-paise-against-dollar/articleshow/4550265.cms

[News Update]

MUMBAI: The frenzied rise of the Indian equities markets seemed to have come to an end abruptly minutes after Tuesday's opening bell as a key index plummeted 289 points after opening 475 points higher.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened 475 points higher at 14,757.82 points, soon dived 373 points or 2.62% to 13,910.5 points.

timesofindia.indiatimes.com/Markets-nose-dive-on-opening-/articleshow/4550451.cms

[News Update]

UK retailer Marks and Spencer has cut its dividend by a third after reporting a fall in annual profits.
M&S cut its dividend to 15p a share for the year to 28 March, down from 22p in the previous year. The cut was larger than most analysts had predicted.

news.bbc.co.uk/2/hi/business/8056809.stm

[News Update]

Oil prices have risen above $60 a barrel on renewed hopes of a recovery in the US economy.
US crude rose by $1.02 a barrel to $60.05, while London Brent crude was up 75 cents to $59.22
Oil prices had risen sharply on Monday amid fears that attacks on oil facilities in Nigeria could lead to shortages in oil supply.
Oil has jumped from $32 a barrel in January, but it remains well below the record high of $147 touched last July.

news.bbc.co.uk/2/hi/business/8056922.stm

[News Update]

In volatile trade, the Sensex surged over 318 points at noon on Tuesday after being down by over 450 points in the morning when speculators began buying to cover their pending positions.

timesofindia.indiatimes.com/Sensex-surges-over-318-points/articleshow/4550451.cms