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U.S stocks broke a four-session losing streak following a strong report on the housing market, a bounce in the U.S. dollar and some upbeat corporate news. The Nasdaq rose 17.90, the Dow Jones up 66.30 and the S&P up 8.29 Nationwide sees 2004 UK house prices rising 9 pct SABMiller The world's second-biggest brewer reported a big 78 percent rise in half-year profits but said the earnings growth in the first-half, enhanced by currency movements, is not expected to be repeated in the second half of the year. Safeway said its interim profits had slipped to 173 million pounds for the six months against 187 million a year ago as it awaits an offer from rival William Morrison Supermarkets. People close to the company expect an offer before Christmas.Mothercare said like-for-like sales rose 4.6 percent in the five weeks to November 14, and it had maintained an improvement in margins. Results showed it made 13.4 million pounds profit in the 28 weeks against a 10.0 million pounds loss in the year ago period. SSL International the maker of Durex condoms said profit before tax fell to 9.5 million pounds in the six months including an exceptional charge of 12 million pounds. Lastminute.com reported its first annual profit of 200,000 pounds and said its managing director and co-founder Martha Lane Fox would stand down at the end of 2003. Royal & Sun Alliance Britain's second-largest general insurer reported underlying Q3 results consistent with the first half and said it was making good progress on restructuring its U.S. operations. It unveiled an operating loss of 212 million pounds in the nine months to September 30, but the figure included the reserve charge. Its combined ratio, a key gauge of non-life underwriting profitability that measures costs and claims against premiums, had improved to 96.2 percent from 104 percent in the same period last year, beating a consensus estimate of 99.3 percent. |
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FKI (I), GUS (I), Tomkins (I) Great Portland Estates (I) National Grid Transco (I), Royal & Sun Alliance Insurance (I) SABMiller (I), Dimension Data Holdings Limited (F) Lastminute.com (F), Safeway (H1), Hilton group (I) Retail Sales Y/Y M/M for October PSNCR for October PS Net Borrowing for October |
TGT retail, Walt Disney
1:30 Initial Claims 11/15 - 360K 15:00 Leading Indicators Oct - 0.2% 17:00 Philadelphia Fed Nov - 26.0 |
ABB Swiss engineer holds an extraordinary shareholder meeting on Thursday to approve a huge financing plan after the indebted firm nearly went bust last year. Swisscom (I) French-Belgian banking group Dexia (I) |
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