MARKETS / FINANCE

Stocks gained for a third day on Monday after last week's wild swings on U.S. deal news and speculation European leaders may get control of the euro zone's debt problems.

Bank of America Corp plans to sell its credit card business in Canada to TD Bank Group, part of a plan by the largest U.S. bank to shed assets and rebuild its capital base.

Critics have chided President Barack Obama for his economic reforms, which they view as too big, or too liberal. The reality is however, that if Obama's reforms don't stand, and the economic/social problems are not addressed, an even more-liberal public official will likely emerge to propose and enact bigger changes.

Leading German business groups called on Monday for joint euro zone bond issuance, despite their government's opposition, and the European Central Bank showed its intent to defend Italy and Spain.

Silver prices and the shares of silver mining companies rose Monday along with the price of gold and the broader U.S. stock market.

A gauge of manufacturing in New York State showed the sector contracted for the third month in a row in August as new orders fell to their lowest level since November 2010, the New York Federal Reserve said in a report on Monday.

A gauge of manufacturing in New York State showed the sector unexpectedly contracted for the third month in a row in August as new orders fell to their lowest level since November 2010, the New York Federal Reserve said in a report on Monday.

The Swiss franc dropped to two-week lows against the euro and dollar on Monday on speculation the Swiss National Bank could further act to curb strength in the currency by setting an exchange rate target as early as this week.

Stocks rose more than 1 percent on Monday, feeding on acquisition news and hopes European politicians will come up with solutions to the region's debt crisis.

Lowe's Cos Inc reported weaker-than-expected quarterly sales and cut its fiscal-year outlook for the second time in three months as homeowners put off big renovations in an anemic U.S. economy.

A gauge of manufacturing in New York State showed the sector contracted for the third month in a row in August as new orders fell to their lowest level since November 2010, the New York Federal Reserve said in a report on Monday.

Tanzania plans to conclude negotiations with mining companies early next month to allow the government to raise royalty payments on gold exports to 4 percent from 3 percent.

Gold prices eased for a third session on Monday as stock markets and cyclical assets such as industrial commodities continued to recover from a rout they suffered early last week, diverting investment away from the precious metal.

Stock index futures rose on Monday, feeding bullish hopes that the recent selling would ebb after last week's wild swings took the S&P 500 near a one-year low.

Lowe's Cos Inc reported weaker-than-expected sales in the second quarter as home owners put off big renovations in an anemic U.S. economy.

Gold and silver prices rose Monday in early U.S. trading as Europeans bought unusually large volumes of the yellow metal.

U.S. homebuilder sentiment remained stuck at historic lows in August, as a glut of distressed homes, tight credit, and economic uncertainty kept new buyers out of the market, the National Association of Home Builders said on Monday.

Time Warner Cable said it will buy cable operator Insight Communications from Carlyle Group for $3 billion in cash to broaden its presence in the U.S. Midwest.

No euro zone member states will be allowed to quit the currency bloc, European Central Bank Governing Council member Yves Mersch said in an interview published on Monday in the China Business News.

Commodities saw volatile movement last week, driven by intensifying talk of U.S. double-dip recession, spreading of sovereign crisis from the European periphery to core economies, speculations of U.S. Fed's easing measures, and supportive macro-economic data.

Lowe's Cos Inc reported weaker-than-expected quarterly sales and cut its fiscal-year outlook for the second time in three months as homeowners put off big renovations in an anemic U.S. economy.

Russia will showcase its top-of-the-range fighter jets and newest space shuttles at the MAKS airshow, starting on Tuesday, and an ambitious program to upgrade its arms looks set to make Moscow the biggest buyer at its own show.

Newcrest Mining , the world's No.3 gold miner, plans to focus on expanding in Asia, where it will spend A$9 billion ($9.3 billion) to boost its gold output by 50 percent over the next five years.

Uranium Resources Inc. said Monday that, as of July 31, it had about $7.2 million in cash compared to $11.1 million at the end of March and $15.4 million at the end of last year.

A summary of all-things Washington for Monday, August 15, 2011.

China's banking regulator on Monday published new rules on banks' capital requirements as part of efforts to implement Basel III guidelines to help lenders rein in risks.

Brigus Gold Corp. swung to a profit in the first half of the year on a huge jump in production, lifting shares Monday of the Canadian mining in premarket trading.

Asian equities bounced on Monday and safe-haven assets like gold and the Swiss franc fell as market players cautiously returned to pick up bargains after last's week wild ride, though concerns over the weak global economic outlook may keep gains in check.

Harmony Gold, the world's fifth largest gold producer, reported a 67 percent drop in quarterly profits that fell short of market expectations as power rates and the costs of a troubled asset it recently bought took a bite from its earnings.