Thursday, August 25, 2005

Stock Markets Afternoon News 8/25/2005

Stocks edge up on acquisition news

Traders work the floor of the New York Stock Exchange August 11, 2005. Stocks gained on August 24, 2005 after a surprising gain in new home sales increased demand for equities, offsetting an earlier decline that came on the heels of lower-than-expected durable goods orders. (Keith Bedford/Reuters)Reuters - U.S. stocks rose on Thursday as news about acquisitions offset the impact of high oil prices, credit downgrades of automakers and cuts in stock ratings.


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Stock markets up as financials boost TSX, crude oil slips from record high of $68 US

Canadian Press - TORONTO (CP) - The financial sector helped the Toronto stock market to minor advances Thursday afternoon as investors were relieved by earnings reports from TD Bank and National Bank.

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Stocks Rise Despite Oil Price Worries

Traders work in the oil futures pit at the New York Mercantile Exchange Thursday Aug. 25, 2005 in New York. Light sweet crude for October delivery on the New York Mercantile Exchange fell 12 cents to $67.20 a barrel by afternoon after reaching an intraday peak of  US$68 (euro 55). (AP Photo/Frank Franklin II)AP - Stocks rose modestly Thursday as investors saw a series of corporate acquisitions as a chance to pick up bargains in an otherwise difficult market. But a late-session rise in oil prices threatened to erase even those minimal gains.


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Thursday's Wall Street Glance

AP - Dow Jones Industrials

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Dollar clings to gains ahead of data

Reuters - The dollar held on to its gains on Wednesday as investors awaited U.S. durable goods data and a speech from a Federal Reserve policymaker to give indications of the interest rate outlook.

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Before the Bell: Google, Plumtree gain

Reuters - Google Inc. rose nearly 1 percent before the bell on Tuesday after the Los Angeles Times reported the Web search company will launch its own instant messaging system .

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Market at Crossroads of Earnings and Oil

AP - Wall Street's gains from bullish second-quarter earnings are evaporating quickly in the face of near-record crude oil futures and increasing evidence that high gasoline prices are diverting consumers' dollars.

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NYSE says fines Merrill Lynch $10 mln

Reuters - The New York Stock Exchange on Monday said it fined Merrill Lynch & Co. , the biggest U.S. brokerage, $10 million for "supervisory and operational failures."

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Nikkei ends flat after GDP, off 4-yr high

Reuters - Tokyo's Nikkei average ended down 0.01 percent on Friday, a touch off the previous day's four-year high as weaker-than-expected GDP and a higher yen prompted selling in JFE Holdings and other recent gainers.

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Stocks set to edge up as Fed tops agenda

Reuters - Stocks were seen opening slightly higher on Tuesday, reversing some of the previous day's losses, with the focus on an expected hike in interest rates.

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