Economic News

NEW YORK (AFX) - Investors eked out Wall Street's fifth-straight day of gains Friday, bucking concerns about lagging consumer sentiment and disappointing second-quarter results from Dell Inc. Trading got off to a shaky start after the University of Michigan released its preliminary consumer sentiment index, which fell to 78.7 in August, down from 84.7 a month earlier. Wall Street had been loo ...

LONDON (AFX) - European government bonds were modestly higher, keeping intact their firm tone throughout the week after softer-than-expected inflation data in both the US and the euro zone. At the margins, a weak consumer confidence survey in the US also helped bond prices higher on both sides of the Atlantic. The latest University of Michigan survey showed the headline consumer sentiment index  ...

LONDON (AFX) - The dollar recovered against major currencies, moving back towards day highs against the euro and the pound, after falls in the wake of weaker-than-expected US consumer confidence data proved short-lived. The latest University of Michigan survey showed the headline consumer sentiment index fell sharply to 78.7 in August from 84.7 in July, well below analysts' expectations for a sma ...

(Updates with full report) PARIS (AFX) - Share prices closed slightly lower as mixed trading on Wall Street prompted consolidation of positions ahead of the weekend, ending a 5-day run of gains that had been built on hopes that further US interest rate tightening would not be necessary, dealers said. The CAC-40 index finished down 9.15 points at 5,135.69. On the week, the benchmark gained 150.17 ...

Evening Standard18 August 2006 A HUGE 11% increase in the amount of income tax raked in by the Inland Revenue in July helped swell the Chancellor's coffers to hit the biggest surplus on record. WANT TO KNOW MORE? GUIDES: Income tax EXPERTS: Tax expert questions TABLES: Income tax OTHER STORIES Homebuying is hotter than July Price warning for greedy gas giants Market Report: Frid ...

NEW YORK (AFX) - Investors kept stocks mixed in opening trading Friday after Dell Inc. handed Wall Street disappointing quarterly results, and investors reacted as oil rebounded from an eight-week low. Dell, the world's largest computer maker, pressured the technology sector after reporting that its second-quarter profit plunged 51 percent. The company, already reeling from a massive laptop b ...

LONDON (AFX) - The dollar moved higher against major currencies as the market awaited US University of Michigan consumer confidence data this afternoon, while the boost to the yen from the unexpected news of a Chinese interest rate hike earlier began to peter out. As US markets opened, the dollar picked up after trading within tight ranges throughout much of the morning. The US currency had gaine ...

By Christina Fincher and Sumeet Desai LONDON (Reuters) - Public finances swung dramatically into the black in July, putting overall borrowing back on track to hit Chancellor Gordon Brown's forecast after a run of disappointing figures. Soaring tax receipts helped the government post its biggest July surplus on record, showing the economy is building up steam just as speculation mounts Brown coul ...

LONDON (AFX) - European government bonds were steady in midday trade having rallied through the week on softer-than-anticipated inflation data in both the US and the euro zone. European fixed income issues have been buoyed in recent days on expectations the US Federal Reserve will not be raising interest rates again any time soon and that the US economic slowdown will eventually impact upon growt ...

BEIJING (XFN-ASIA) - Standard & Poor's said China's interest rate hike will cut risks by helping to rein in economic growth to more sustainable levels. The rating service made the comment in a statement issued in reaction to Beijing's hike earlier today in its benchmark one-year lending and deposit rates. They each rose by 27 basis points. "This reinforces Standard & Poor's expectat ...