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IMF raises 2010 world GDP forecast, flags Europe risks

The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.

Earnings optimism boosts global stocks

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World stocks rose on Thursday while the euro hit a two-month peak against the low-yielding dollar on rising expectations the forthcoming earnings season would show strong corporate performance.
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Costco June same-store sales up 4 percent

No. 1 U.S. warehouse club operator Costco Wholesale Corp saw June sales at stores open at least a year rise 4 percent, marginally missing market expectations, as it was hurt by the Memorial Day holiday shift.
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Oil jumps to $75 as equities rally

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.
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Gold extends rebound on equities, physical buying

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.
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Stocks gain, euro and Aussie climb in Asia

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.
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Aussie lifted by jobs, euro wrestles resistance

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.
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U.S. court fight looms over drilling ban

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.
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BP aims to fix leaking oil well by July 27: report

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.
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Global stocks gain after forecast fuels optimism

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.
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Asian stocks gain, euro climbs to 2-month high

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.
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Asian stocks gain after forecast fuels optimism

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.
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BP boss in MidEast as relief well progresses

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.
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Tax rates to stay business-friendly: Geithner

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.
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U.S. aims to detect cyber infrastructure attacks: report

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.
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Daily Forex Forecast 8/7/2010

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.
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State Street expects earnings beat; stocks boosted

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.
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Europe names 91 banks taking part in stress tests

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.
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SEC reopens flash order debate

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.
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Wall Street rallies on earnings optimism

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.
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Goldman and Morgan Stanley saw turbulent Q2

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.
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Europe to mark down Greek debt in bank tests

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.

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