Oil jumped to a one-week high above $75 on Thursday after earnings euphoria injected positive sentiment into Asian equities, reinforcing overnight gains triggered by an industry report showing U.S. crude inventories plunged last week.
Gold rose to hold above $1,200 an ounce on Thursday on steady purchases from jewelers and other physical buyers after a recent drop to a six-week low, while sentiment was also lifted by gains in equities markets.
The euro surged to a two-month high and Asian stocks were set for their best gains in over two weeks on Thursday after a bullish company forecast fuelled optimism about the coming U.S. earnings season and underpinned a slow return by investors to riskier assets.
The euro pushed to a two-month high against the dollar on Thursday as short-covering kicked in after strong Australian jobs data sent the Aussie dollar up and helped gains in other currencies against the greenback and yen.
BP is aiming to plug its leaking Gulf of Mexico well by July 27, weeks sooner than forecast, according to a newspaper report on Thursday, while a battle between the U.S. government and the oil industry over a deepwater drilling ban heads to court.
BP boss Tony Hayward met with an Abu Dhabi state investment fund on Wednesday, part of a quest for cash to ward off takeovers and help pay for the worst oil spill in U.S. history.
Besieged energy giant BP Plc aims to fix its leaking Gulf oil well by July 27, ahead of its earlier target of mid-August, to show investors it has limited its burgeoning oil spill liabilities, the Wall Street Journal said, citing company officials.
The euro surged to a two-month high and Asian stocks were set for their best gains in over two weeks on Thursday after a bullish company forecast fueled optimism about the coming U.S. earnings season and underpinned a slow return by investors to riskier assets.
The euro surged to a two-month high and Asian stocks climbed to their highest in more than a week on Thursday after a bullish forecast fueled optimism about the coming U.S. earnings season and underpinned growing tolerance for risk.
The euro surged to a two-month high and Asian stocks climbed to their highest in more than a week on Thursday after a bullish forecast fueled optimism about the coming U.S. earnings season and underpinned growing tolerance for risk.
BP boss Tony Hayward met with an Abu Dhabi state investment fund on Wednesday, part of a quest for cash to ward off takeovers and help pay for the worst oil spill in U.S. history.
Obama administration will keep tax rates at levels that benefit job-creating businesses and limit taxes on capital gains and dividends, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
The government is launching a program nicknamed Perfect Citizen to detect cyber assaults on private U.S. companies and government agencies running critical infrastructure such as the electricity grid and nuclear power plants, the Wall Street Journal said in its online edition, citing people familiar with the program.
The Australian dollar has received another boost overnight after an improvement in investor risk appetite.
Traders were content to play the ranges between 0.8470 and 0.8510 during yesterday's domestic session in light of the sharp rally above US85 cents the previous day.
Asset management and custody firm State Street Corp said on Tuesday that quarterly operating earnings would easily top Wall Street forecasts, sending its shares up nearly 10 percent and boosting the broader market.
Europe listed 91 banks taking part in financial stress tests -- including many regional banks where markets suspect most of the sore spots are -- as it seeks to restore confidence in the sector.
The top U.S. securities regulator wants more feedback on its nearly year-old proposal to ban flash orders, and has asked additional questions about the wisdom of the ban in the options market.
U.S. stocks logged their best one-day gain in about six weeks on Wednesday after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level.
A government program to bail out banks at the height of the financial crisis has so far turned a profit, according to a report by investment bank Keefe, Bruyette & Woods Inc.
Goldman Sachs Group and Morgan Stanley have generated billions of dollars of revenue from fixed income trading over the last year, but that profit engine may have sputtered in the second quarter as bond markets grew turbulent.
Stress tests on European banks need to mark down the value of Greek government debt by about 16 percent, sources said, as regulators haggled over how much detail to reveal about the health checks.
