12/29/08 The US dollar softened this past trading session as a rise in commodities and commodity currencies held the greenback down in trading against both the euro and yen this session.
Analysis and Discussion with James Paulsen of Wells Capital Management: Has Very Bullish S&P Target Level of 1250 for 2009
Oil rises as Middle East fighting rages A A Crude prices rose above $40 a barrel Monday as Israel and Palestinian militants exchanged rocket fire and the death toll mounted in the oil-rich region.
Billionaire investor Kirk Kerkorian has sold off all of his remaining shares of Ford Motor Co , a spokeswoman for his investment firm, Tracinda Corp, said on Monday.
A worker is seen filling up a taxi's fuel tank at a gas station in Taipei in this April 23, 2008.
A consortium of private equity and hedge fund firms, including J.C. Flowers & Co, is close to a deal to buy the assets of failed mortgage lender IndyMac, a source familiar with the matter said on Sunday.
European stock markets advanced in thin holiday trade Monday helped by gains in commodities stocks. Asian stocks rose moderately.
In Europe, Britain's FTSE 100 gained 2.3 percent, or 95.79 points, to 4,312.38. Germany's DAX was up 1.9 percent, or 86.25, at 4,715.63, and France's CAC 40 climbed 0.9 percent, or 28.96, to 3,145.17.
Energy companies advanced as oil prices hovered near $40 a barrel on concerns about supply disruptions in the Middle East amid Israel's offensive in Gaza. Light sweet crude for February delivery rose $2.55 to $40.26 a barrel in electronic trading on the New York Mercantile Exchange by midday in Paris. The contract on Friday rose $2.36 to settle at $37.71.
British children's clothing retailer Adams Childrenswear Ltd. is on the brink of a form of bankruptcy protection, a spokeswoman for the 75-year-old company said Monday, which would make make Adams the latest well-known British retailer to fall victim to the economic downturn.
Spokeswoman Ginette Gisborne said the central England-based kids clothing retailer had applied to go into administration _ a form of bankruptcy protection _ on Wednesday and was expected to be placed in the hands of administrators at PricewaterhouseCoopers on Monday.
Japanese stocks rose for a third straight session Monday, lifted by hopes for mergers in the insurance and semiconductor sectors.
The benchmark Nikkei 225 stock average rose 7.65 points, or 0.1 percent, to 8,747.17 in thin year-end trading. The broader Topix index rose 1 percent to 854.17.
Mitsui Sumitomo Insurance Group Holdings Inc. surged 8.3 percent to 2,885 yen after the Nikkei financial daily reported that Japan's No. 2 nonlife insurer was in negotiations to integrate operations with two smaller rivals.
ANZ Banking Group Ltd's retail financing arm, Esanda, has signed up Subaru Australia as the federal government's $2 billion car financing plan gears up to save the motor vehicle industry.
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