Gold touched a record high above $1,440 an ounce on Wednesday, as a bullish confluence of political unrest in Libya, surging oil prices and easy monetary policies spurred safe haven buying.
London Commodity Brokers (LCB) aims to sell 2 million tonnes of South African thermal coal a year for Strategic Natural Resources (SNR) PLC, using the port of East London rather than the highly congested Richards Bay.
The Nigerian naira weakened further against the U.S. dollar on the interbank market on Wednesday as strong demand for the greenback persisted in the face of static supply, traders said.
The municipal bond market could see up to $100-billion in defaults over the next five years as state and local government debt woes get worse, according to a report from Roubini Global Economics.
Travelzoo Inc. (NASDAQ: TZOO), a publisher of travel newsletters and websites, continues to quickly ramp up its Local Deals business, generating an estimated $2.1 million in net revenues in February, compared with estimated net revenues of $1.3 million in January, $1.5 million in December, $1 million in November, and $650,000 in October, Wedbush Securities said.
U.S. stocks advanced in early trade on Wednesday after ADP National Employment report showed that the private sector employment rose more than expected in February.
Gold prices held just below the previous session's record high in Europe on Wednesday, as the acceleration of global inflation and the threat that violence in the Middle East and North Africa will spread supported interest in the metal as a haven from risk.
The top pre-market NASDAQ stock market gainers are: Shanda Games, Mecox Lane, China Techfaith Wireless Communication Technology, Cytori Therapeutics, Novavax, and Yahoo!. The top pre-market NASDAQ stock market losers are: Wonder Auto Technology, Vical, Sina, Hudson City Bancorp, and Joy Global.
The companies whose shares are moving in pre-market trade on Wednesday are: Yahoo, Newmont Mining, The Dow Chemical, Motorola Mobility Holdings, Carnival Corp, Xilinx, Texas Instruments, MetLife, Health Care and Eog Resources.
The Oracle of Omaha chats live with CNBC
Shares of Sonus Networks, Inc. (NASDAQ: SONS) touched a new 52-week high of $4.16 on Tuesday. The company reported Monday a surprise fourth quarter earnings on higher revenue and predict higher-than-expected revenue for 2011.
Asian stocks ended lower on Wednesday, following declines in the Wall Street overnight on concerns that rising oil prices could hurt economic recovery.
Shares of Tesco Corp. (NASDAQ: TESO) touched a new 52-week high of $18.72 on Tuesday. The company Thursday reported higher fourth quarter earnings on positive momentum across all of its product lines and expects a stronger 2011. The positive results was seen in trading of Tesco stock that had reached a new high for third day in a row.
Futures on major U.S. indices point to modestly lower opening on Wednesday as investors eye economic data including ADP national employment report.
The top after-market NYSE gainers on Tuesday are: Phoenix Companies, Verifone Systems, iStar Financial, BPZ Resources and Rosetta Stone. The top after-market NYSE losers are: Dycom Industries, Weatherford International, MetLife, MBIA and Skilled Healthcare Group.
The top after-market NASDAQ stock market gainers are: Mecox Lane, Shanda Games, Trustmark, Cytori Therapeutics, Hercules Offshore, and Yahoo!. The top after-market NASDAQ stock market losers are: Datalink, Wonder Auto Technology, Sina, ArQule, and Ener1.
Shareholders of two of the firms in a consortium buying U.S. insurer AIG's Taiwan unit approved the $2.16 billion bid on Wednesday, setting the scene for what is expected to be a tough battle with regulators.
China and Hong Kong shares were lower by midday Wednesday as market players preferred to cut risk after escalating political tensions in the Middle East prompted a pull-back on Wall Street and in other Asian markets.
A former partner of D.E. Shaw and an ex-Goldman Sachs (GS.N) partner are setting up a new firm to raise about $500 million for a China-focused private equity fund to join the growing competition for deals in the world's No.2 economy, sources told Reuters on Wednesday.
Spot gold rallied to a record of $1,432.10 an ounce, surpassing its previous record of $1,430.95 set on December 7, as chaos in Libya and political turmoil in the Arab world prompted safe-haven buying and soaring oil prices boosted bullion's inflation hedge appeal.
U.S. auto sales rose more than 20 percent in February as the lure of discounts from automakers led by General Motors Co (NYSE: GM) outweighed concerns about higher oil prices.
Gold jumped against a falling Dollar in London trade on Tuesday, touching $1,432.10 per ounce, one dollar above the all-time peak of 7th Dec. Silver marks a fresh all-time high at $34.44/oz, while Western stock markets fell and Brent crude oil rose towards new two-year highs.
South Africa's new energy resource plan, which will determine the country's electricity mix over the next 20 years, will be passed into law by the start of April, a government official said on Tuesday.
ICE cocoa prices hit a fresh 32-year high of $3,706 a tonne in early trading on Tuesday, as fighting intensified in top producer Ivory Coast.
Boosted by the soccer World Cup, South Africa saw a record 15.1 percent increase in tourist arrivals in 2010 although the total of more than 8 million was not an all time-high, the tourism minister said on Tuesday.
Tanzania needs to invest $10 billion a year to improve its infrastructure network and create a healthy climate for the county's economic growth, a continental investment body said on Tuesday.
Mauritius' trade deficit widened 17.2 percent in 2010 as rising imports outstripped growth in exports, the statistics office said on Tuesday.
Three in ten Americans expect the economy to improve in the coming year, according to The Harris Poll which surveyed 3,171 adults online between Feb. 14 and 21, 2011.
The silver market has greeted the revival of forward sales by miners with sanguinity as prices sit at 31-year highs, but other signals suggest supply may really be scarce and investors are poised for more price gains.
Spot gold rose to a session peak at $1,421.35 an ounce and was up 0.6 percent at $1,419.66 an ounce by 1240 GMT. It rose 6 percent in February, its largest monthly rise since August, when the U.S. Federal Reserve first indicated that it would continue the massive money printing by monetizing government bonds.
