UNITED KINGDOM

Daily Commentary - 30/07/2009

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After attempting to retest the 83 cent handle in early Asian trade yesterday the Aussie dollar ran into some resistance, peeling back to settle around 0.8250 during the afternoon. Early European investors however sold the high yielder after concerns about the Japanese economy following the country's poor Retail Trade data, a much lower than expected German CPI reading and sharp declines in commodity prices.

U.S. trust in business bounces back from low

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Trust in business has rebounded from 10-year lows in the United States, but the majority of Americans still do not count on corporate America to do what is right, according to a survey released on Thursday.
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Asian shares gain, Shanghai see-saws

Chinese stocks see-sawed in skittish trade on Thursday, as the central bank reaffirmed loose monetary policy, while other Asian markets regained enough poise after the previous day's shakeout to edge back to 2009 highs.
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Daily Forex Commentary- Wednesday, 29 July 2009

The Aussie dollar appeared to be heading back below the 82 cent mark yesterday before comments from the RBA governor Stevens sparked a wild buying frenzy in afternoon trade. Speaking at a charity lunch his comments on the prospects for the local economy he said he can “imagine more upside risks to the economy to balance out downside risks”, a signal that rates are more likely to go up rather than down from here.
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Japan carmakers stay in black, PSA, Daimler turn red

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear sings of sustained recovery for the world's battered auto sector remained elusive.
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Daily Wrap Up - July 28 - Energy

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.
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RioCan eyes acquisition in Canada by year end: CEO

RioCan Real Estate Investment Trust is looking at acquisition opportunities in Canada in the short term and will likely close a deal by the end of the year, Chief Executive Edward Sonshine said in an interview with Reuters.
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Britain says may withdraw Iraq oil force to Kuwait

British forces remaining in Iraq will withdraw to Kuwait by the end of the month after Iraq's parliament adjourned this week without passing a deal allowing them to stay to help protect oil facilities.
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BP Q2 profit halved by oil fall, beats forecast

Oil giant BP Plc reported a 53 percent drop in second quarter net replacement cost profit to $3.14 billion on Tuesday, due to a halving in crude and gas prices and weaker refining margins.
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U.S. takes center stage in EU hedge fund row

Debate over controversial EU laws on hedge funds shifted to the United States on Monday as a key industry body warned of protectionist aspects of the rules which have prompted Washington to lobby for changes. The Alternative Investment Management Association said the planned laws on alternative investment funds create potentially major difficulties and loss of business for funds and investors...
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Teen escapes jail over bomb hoax

A British teen-ager who phoned the White House and claimed as part of a drunken prank that there was a bomb in the center of New York, escaped jail on Monday.
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U.S. takes centre stage in EU hedge fund row

Debate over controversial EU laws on hedge funds shifted to the United States on Monday as a key industry body warned of protectionist aspects of the rules which have prompted Washington to lobby for changes. The Alternative Investment Management Association said the planned laws on alternative investment funds create potentially major difficulties and loss of business for funds and investors...
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Friends breaks off Resolution talks

British life insurer Friends Provident said on Monday it had ended talks with would-be acquirer Resolution after rejecting a fresh takeover approach from the Guernsey-based bid vehicle over the weekend.
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Weekly Market Watch - Monday, 27 July 2009

Strong US corporate earnings and positive daily finishes in global equity markets along with a mixed bag of US economic data saw the Greenback lose ground against the Pound and EURO but hold steady against the YEN.
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Ryanair Q1 earnings up 550 percent

Irish airline Ryanair on Monday posted a better-than-expected 550 percent rise in first quarter profit thanks to a large reduction in fuel costs but said its outlook remained cautious for the rest of the year.
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Contador wins Tour de France 2009 (Top 10 Standings)

Spain's Alberto Contador won this year's Tour de France on Sunday, his second win in cycling's premier event by more than four minutes, ahead of Luxembourg's Andy Schleck and beating out seven-time winner Lance Armstrong of the U.S. who was making a comeback three and a half years after retiring.

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