Oil sinks on stronger dollar to $115 a barrel

Oil prices dove to $115 a barrel on Friday, driven lower by a huge jump in the U.S. dollar, signs of moderating demand around the world and the burgeoning belief that commodities may have peaked. Shrugging off concerns about a sabotaged oil pipeline in Turkey, investors pulled their money out of commodities and put it back into stocks, giving crude oil a weekly loss of nearly $10 a barrel, and driving... 

Dow off, S&P eyes up week after jobs and profits

U.S. blue-chip stocks declined slightly, while the broader market was flat on Friday as healthy but moderate job growth signaled to investors that the Federal Reserve will keep interest rates steady, while this week’s strong rally caused some to take profits. Positive broker comments about Electronic Arts Inc. and other companies lent support, but a 3.6 percent drop in the shares of Amazon.com... 

Mid-caps steal the limelight as FTSE rises

London equities made further progress on Thursday as the London Stock Exchange intensified its attempt to fend off Nasdaq’s hostile bid and the mining sector tracked commodities prices higher. The FTSE 100 opened 0.5 per cent higher at 6,237.5, a gain of 33 points, dominated by resurgent resource stocks. A flurry of newsflow from mid-cap stocks focused attention on the FTSE 250, up 0.2 per cent... 

Mining stocks send FTSE higher

The FTSE moved higher on Thursday as mining stocks tracked commodities prices higher. By late morning, the FTSE 100 was up 26.2 points, or 0.4 per cent, to 6,237.5 while the mid-cap FTSE rose 29.8 points, or 0.3 per cent, to 11,124.1. Overnight, the US Dow Jones Industrial Average closed little changed at 12,577.2 while in Asia, the Bank of Japan kept interest rates on hold. Resources stocks were the... 

Asian stocks firm, oil stabilizes above $60

Asian stock markets continued their strong year-end run on Thursday after a record close on Wall Street, while crude oil stabilized just above $60 a barrel after losing $3 in four sessions. The yen, which hit a record low against the euro last week and a two-month low against the dollar this week, was steadier, finding support from renewed speculation about a Japanese interest rate rise plus a recent... 

European Mining Stocks, BHP Rise; Alcatel, GlaxoSmithKline Fall

European mining stocks rose as gold climbed to a two-month high in Asia and copper prices gained. Anglo American Plc and BHP Billiton, the world’s biggest mining companies, paced the advance. Alcatel SA led export stocks lower after the dollar dropped against the euro. GlaxoSmithKline Plc paced a decline by drugmakers for a third day. The Dow Jones Stoxx 600 Index rose less than 0.1 percent to... 

Tag: viaspace inc, craig williams woodside

Canadian Stocks May Fail to Extend October Rally as Oil Drops

Canadian stocks may struggle to build on this month’s rally as energy producers such as Petro-Canada may fall along with oil prices. Losses in the market may be limited after Alcan Inc. and Rogers Communications Inc. reported earnings that exceeded analysts’ estimates. The Standard & Poor’s/TSX Composite Index may also be supported by higher prices for industrial metals and a... 

Cheaper Gasoline Helps Boost Retail Sales: U.S. Economy Preview

Sales at U.S. retailers increased for a third straight month in September as cheaper gasoline put Americans in the mood to spend, a government report is forecast to show this week. Purchases rose 0.2 percent, matching the rise in August, according to the median estimate of economists in a Bloomberg News survey before the Commerce Department’s Oct. 13 report. Sales were probably stronger in September... 

European Mining Stocks May Rise on Gold, China Growth Forecast

European mining stocks may rise after gold prices gained and China said economic growth will accelerate this year. Rio Tinto Group and Anglo American Plc might lead the advance. “Metal prices have moved significantly higher which should help the mining companies,” said Simon Denham, a director at London Capital Group. “We see Rio and Anglo opening a little higher because gold has... 

Tag: mining stocks forecast, european mining profit

Shares of Coal Miners Rise

Shares of coal mining companies finished higher Wednesday as investors’ fears over higher interest rates eased at least temporarily and oil prices dropped to their lowest level in two months. Shares of Peabody Energy Corp. gained $3.15, or 7 percent, at $47.83 on the New York Stock Exchange. Consol Energy Inc. added $1.63, or 4.4 percent, at $39.10 on the NYSE. Shares of Arch Coal Inc. rose $1.72,...