Friday, November 6, 2009

Public Storage 3Q Profit Up 73% On Forex,Stock-Offering Gain

Public Storage Inc.'s (PSA) third-quarter profit grew 73% on gains from foreign-currency exchange and an equity offering by PS Business Parks Inc (PSB).

The real-estate investment trust, which has interests in more than 2,000 storage facilities.

WORLD FOREX: Dollar Edges Down Vs Yen Before US Jobs

The dollar edged down against the yen in Asia Friday as some short-term players sold the U.S. currency on the view that a keenly-awaited U.S. jobs report later in the day may show the country's employment conditions worsening.

The U.S. non-farm payrolls report, due at 1330 GMT, may show 175,000 jobs cut in October, economists surveyed by Dow Jones Newswires said. While that would be an improvement on the 263,000 jobs lost in September, the unemployment rate is tipped to rise from 9.8% .

UK company liquidations up 14.6 pct y/y in Q3 - govt

More than 4,700 companies in England and Wales went into liquidation in the third quarter of this year and 35,000 people succumbed to insolvency, official government figures showed on Friday.

The Insolvency Service said company liquidations rose 14.6 percent on a year ago to 4,716. Personal insolvencies rose 28.2 percent on a year ago to 35,242.

Monday, October 5, 2009

PRECIOUS-Gold extends gains above $1,000/oz as dollar slips

LONDON, Oct 5 (Reuters) - Gold prices extended gains above $1,000 an ounce in Europe on Monday, supported by weakness in the dollar in the wake of a meeting of Group of Seven finance ministers at the weekend.

The softer dollar is boosting interest in gold as an alternative asset, analysts said, as well as making the precious metal cheaper for holders of other currencies.

Spot gold XAU= was bid at $1,004.65 an ounce at 0929 GMT, up from $1,001.30 late in New York on Friday. U.S. gold futures for December delivery GCZ9 on the COMEX division of the New York Mercantile Exchange edged up $1.70 to $1,006.00 an ounce.

As well as the weak dollar, gold is also being supported by fears over the sustainability of the recent stock market rally. U.S. equities closed down and European stocks hit a four-week closing low on Friday after weak U.S. non-farm payrolls data.

"Gold is in a period of going sideways, consolidating before the next significant move," said Mitsubishi precious metals strategist Tom Kendall.

"It is (being influenced by) the dollar, but there is also a degree of nervousness among equity investors," he said. "There are some pieces of news that are keeping people wary

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