European exchanges moved ahead Tuesday on improved prospects for European Union
intervention to ease a crippling debt and deficit crisis in Greece. Greece's
European partners are under pressure to approve a financial aid mechanism for
Athens and are to convene at a summit Thursday in
US stocks rose broadly overnight, with the Dow on track for its largest daily
percentage advance since July, on reports euro zone countries will come to the
aid of debt-stricken Greece. The US dollar fell against the euro, boosting
commodity prices and shares of natural resources
The Standard & Poor’s 500 Index rose 1.6 percent at 1:53 p.m. in New York.
The MSCI Emerging Markets Index increased 2 percent after falling 6.1 percent
in the past three sessions. Greece’s ASE Index climbed 5 percent, rebounding
from four days of losses. The euro strengthened the most
Credit-default swaps on the Markit CDX North America Investment-Grade Index
Series 13, which is linked to 125 companies and used to speculate on
creditworthiness or to hedge against losses, fell 6.5 basis points to a
mid-price of 100.5 basis points as of 12:18 p.m. in New York, according to
By Camila Fontana The real advanced 1.8 percent to 1.8428 per dollar at 1 p.m.
New York time, from 1.8755 yesterday. The benchmark Bovespa stock index jumped
3 percent to 65,014.46. The Standard & Poor’s 500 Index increased 1.7
percent to 1,074.91. Twenty-four of the 26 emerging-market
The New York-based firm, run by former Apollo Management LP partner Michael
Gross , declined 4.9 percent to $17.59 as of 12:02 p.m. in New York trading.
The company sold 5 million shares for $18.50 apiece after asking investors to
pay as much as $21 each, a Jan. 27 filing with the Securities
Greece's European partners are under pressure to approve a financial aid
mechanism for Athens and are to convene at a summit on Friday in Brussels. The
Greek fiscal debacle is expected to figure prominently at the talks, with the
EU wanting to avoid the intervention of the International
Feb. 9 (Bloomberg) -- Canada’s dollar advanced the most in a month versus its
U.S. counterpart as the European Union held out the prospect of aiding Greece,
spurring appetite for currencies tied to economic growth. “Clearly it’s having
an impact on the euro and will cause some of the
Financial shares in the Standard & Poor’s 500 Index reversed an earlier
drop and climbed 1.8 percent as a group, led by JPMorgan Chase & Co. and
Wells Fargo & Co. Freeport-McMoRan Copper & Gold Inc. and
ConocoPhillips rose at least 2.9 percent as metals gained and oil rebounded to
near $74 a
Feb. 9 (Bloomberg) -- Inventories at U.S. wholesalers unexpectedly fell in
December following the biggest increase in more than five years, indicating
distributors had trouble keeping up with demand. A record inventory drawdown
last year has opened the door for manufacturers to pick up
US stocks rose broadly overnight, with the Dow on track for its largest daily
percentage advance since July, on reports euro zone countries will come to the
aid of debt-stricken Greece. The US dollar fell against the euro, boosting
commodity prices and shares of natural resources
