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Sanofi investors oppose big hike in Genzyme bid

Sanofi-Aventis investors have urged the drugmaker not to pay more than about $19 billion to land Genzyme, some $10 a share below the price wanted by the U.S. biotech group.

Wall St drops on P&G's results

Stocks slipped on Tuesday after disappointing results from Dow component Procter & Gamble and some discouraging economic data, but robust earnings from drug giant Pfizer limited the market's decline.

June pending home sales fall to record low

Contracts for pending sales of previously owned U.S. homes fell to a record low in June as buyers sat on the sidelines, a survey from the National Association of Realtors showed on Tuesday.

Pfizer profit beats, reassures on long-term view

Pfizer Inc posted higher-than-expected quarterly results and stood by its longer-term profit view, allaying investor concern over looming generic drug competition and lifting its shares 5 percent.

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Gold rises on firmer physical demand, China move

Gold firmed on Tuesday as physical consumers took advantage of lower prices to buy into the metal and as China announced moves to allow greater freedom in its gold trade, but a lack of investment kept a lid on gains. Spot gold was bid at $1,184.95 an ounce at 1334 GMT (9:34 a.m. EDT), against $1,181.25 late in New York on Monday. Earlier it rose as high as $1,188.75. U.S. gold futures for December delivery climbed $1.80 to $1,187.20 an ounce.

Sanofi sends $69/share offer to Genzyme: sources

Sanofi-Aventis sent a takeover proposal valued at about $18.4 billion, or $69 per share, to biotechnology company Genzyme Corp and the two sides are discussing the offer, sources familiar with the situation said on Monday.

Wall Street set for weak open after run-up

Wall Street was poised for a weak open on Tuesday, easing back after a 10-week high as disappointing results from Dow Chemical Co and Procter & Gamble pushed investors to the sidelines.

Stock futures turn lower after data

Stock index futures declined further on Tuesday after U.S. data showed consumer spending and incomes were unexpectedly flat in June and personal saving rose to the highest level in a year.

Pfizer beats Street as merger savings paying off

Pfizer reported higher-than-expected quarterly earnings and revenue, and the world's biggest drugmaker said its full-year profit will be at the upper end of its prior view as savings continue to pile on from its recent merger with Wyeth.

Dow Chemical profit and revenue miss Wall Street views

Dow Chemical Co posted lower-than-expected quarterly profit on Tuesday as three plant outages offset a jump in sales across all units and regions, sending shares of the biggest U.S. chemical producer down 3.6 percent in premarket trading.

Dollar falls, index breaks below tech support

The dollar hit multi-month lows against major currencies on Tuesday, hit by signs of mounting concern among U.S. policymakers about the pace of economic recovery, as technical factors kept the currency under selling pressure.

Japan concerns grow as yen rises to 8-month high

Japan's finance minister on Tuesday sidestepped questions about intervention to curb yen strength and said markets should determine exchange rates, prompting the currency to rise to an eight-month high against the dollar.

Gold firms on firmer Asian demand and China move

Gold rose in Europe on Tuesday as physical consumers like jewelers took advantage of lower prices to buy into the precious metal, and as China announced moves to allow greater freedom in its gold trade. Spot gold was bid at $1,183.65 an ounce at 0943 GMT, against $1,181.25 late in New York on Monday. U.S. gold futures for August delivery rose 40 cents to $1,185.80 an ounce.

BP sends Japan's Mitsui $480 million bill for leak

Japanese trading house Mitsui & Co <8031.T> said BP Plc has sent it a $480 million bill seeking help in the clean-up of the disastrous Gulf of Mexico oil spill, but it has not decided if it will shoulder any costs.

Dollar falls as index breaks below tech support

The dollar hit multi-month lows against major currencies on Tuesday, stung by speculation that U.S. interest rates will stay low, while technical factors kept the currency under selling pressure. The dollar index, a measure of its value against a currency basket, fell to 80.539, its weakest since mid-April and marking its first break since January below its 200-day moving average, a move that analysts said would open the door to more losses.

Dollar falls broadly, focus on tech levels

The dollar hit multi-month lows against major currencies on Tuesday, stung by speculation that U.S. interest rates will stay low, while technical factors kept the currency under selling pressure. The dollar index, a measure of its value against a currency basket, fell to 80.587, its weakest since mid-April and marking its first break since January below its 200-day moving average, a move that analysts said would open the door to more losses.

Houlihan Lockey declined to endorse Tribune LBO: report

Investment bank Houlihan Lokey had declined to endorse Sam Zell's $8.2 billion leveraged buyout of Tribune Co, citing the deal would saddle the media conglomerate with too much debt, the Wall Street Journal said, citing people familiar with the matter.

Gold steadies in thin Asian trade

Gold steadied in thin Asian trade Tuesday as reports of economic recovery and strong stocks countered weak dollar. Spot gold was seen trading at $1182.18 an ounce at 12.30 p.m Singapore time while US futures for December delivery hardly moved at $1,185 an ounce.

Gold steadies near one-week high on dollar and physicals

Gold held steady near a one-week high on Tuesday as a weak U.S. dollar spurred early buying from investors, while jewelers were also expected to snap up the metal before festive seasons in India and Indonesia.

Dollar index near 3-month low, Aussie eases

The dollar was hovering near a three-month low against a basket of currencies on Tuesday on the perception that the U.S. growth outlook is deteriorating, forcing the Federal Reserve to keep interest rates low. The Australian dollar dropped after retail sales and building approvals data in Australia disappointed bulls ahead of a Reserve Bank of Australia policy announcement.

Gold firms near 1-week high on dollar, physicals

Gold rose to near a 1-week high on Tuesday as a weak U.S. dollar spurred buying from investors, while jewelers were also expected to snap up the metal ahead of the festive season. But trading was thin ahead of a trail of U.S. data such as June personal income, June factory orders and July auto sales, offering clues on the health of the economy. Platinum and palladium failed to sustain early gains.

Dollar index near three-month low

Speculative money drives record surge in wheat prices

Wheat prices exploded by an unheard of 6.34 percent on Monday, continuing a record surge of 38 percent in July, with even more speculators drawn by gloomy news even though the fundamental situation remains stable.

Australian Dollar Outlook 3/8/2010

The AUD has had a strong night during the offshore session, currently trading comfortably above USD0.9100 after better than expected manufacturing data was released in the US and exceptional profit reports from some of Europe's main banks saw risk appetite back on the table.

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