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Apr 15, 2011

MarketWatch | Weekly Roundup: Top 10 Stories April 11 - 15

MarketWatch
Weekly Roundup
APRIL 15, 2011

MarketWatch Top 10 stories April 11 - 15

By MarketWatch



NEW YORK (MarketWatch) — U.S. stocks fell this past week as the firs- quarter earnings season opened with a bit of a thud as Alcoa and bank of America missed Wall street estimates.

The Dow Jones Industrial Average(DJIA)  fell 0.3%, the S&P 500 (SPX) fell 0.6% and the Nasdaq Composite (COMP)  shed 0.6% as well.

Treasury prices extended gains Friday, pushing yields down for the first week in four, as mounting worries about the debt crisis in Europe made U.S. bonds more attractive.

Also supporting bonds, two readings on inflation and inflation expectations offered some relief to investors worried about inflation eating into bond returns.

In the commodities markets, gold futures climbed Friday to close at a record $1,486 an ounce, up 0.8% for the week, with silver hitting its highest level in over three decades, as inflation concerns buoyed investment demand for the precious metals.

"Gold prices remain supported on the back of its appeal as a hedge against inflation, amidst emerging inflationary concerns in the U.S., Europe and China," analysts at ICICI Bank wrote in a note to clients.

The day's settlement price beat out the previous record close of $1,474.10 an ounce seen a week ago.

Light, sweet crude for May (CLK11) added $1.55, or 1.4%, to settle at $109.66 a barrel on the New York Mercantile Exchange. On the week, however, oil lost 2.8%.

Prices turned higher after a key gauge of consumer confidence showed U.S. investors a bit more optimistic about the economy. Earlier Friday, oil traders reacted favorably to U.S. inflation and industrial production reports.

Also, please be sure to watch our Week Ahead videos for Asia, Europe and the U.S.

 U.S. week Ahead: Apple, Intel, Playbook

 Asia Week Ahead; Japan May Post Trade Deficit

 Europe Week Ahead: Nokia, Phillips in Focus

Greg Morcroft, assistant managing editor

Bank of America profit falls

Bank of America Corp. (BAC) reported a quarterly profit of $2 billion Friday, as the largest U.S. bank by assets saw improvement at its credit-card unit, while investment-banking and trading results declined from the year-earlier period. The company also said it named Bruce Thompson as its chief financial officer, succeeding Chuck Noski, who will become vice chairman. Read MarketWatch coverage of Bank of America earnings

J.P. Morgan profit jumps 67%

J.P. Morgan Chase & Co. (JPM) reported a 67% jump in quarterly profit Wednesday, as credit costs dropped at the second-largest U.S. bank by assets. The bank also increased its quarterly dividend to 25 cents a share from 5 cents a share and set plans to buy back $8 billion in stock this year as part of a $15 billion stock-repurchase program. J.P. Morgan said its first-quarter net income rose to $5.6 billion, or $1.28 a share, from $3.3 billion, or 74 cents a share, in the year-ago period. Read MarketWatch coverage of J.P. Morgan earnings

U.S. consumer inflation rises on gasoline prices

The prices paid by American consumers rose sharply again in March, mainly because of higher gasoline and grocery costs, according to the latest government data.The consumer price index rose 0.5% last month, the Labor Department reported Friday. The so-called core rate rose a lesser 0.1%. Economists surveyed by MarketWatch had expected CPI, which tracks inflation at the retail level, to rise by 0.5% overall, or by 0.2% on a core basis. Read MarketWatch coverage of CPI

Find the safest government debt, in Norway

Is anywhere safe? Wall Street will tell you that government bonds issued by advanced Western countries are the safest investments money can buy.But recent events have made a mockery of that idea. If it weren't for international rescue packages, Greece, Ireland and Portugal surely would have defaulted on their bonds. According to the International Monetary Fund, only a handful of countries are really rock solid.They include Australia and New Zealand, as well as the countries of Scandinavia — Denmark, Finland, Sweden and Norway. Read MarketWatch coverage of safe sovereign debt

Glencore, Groupon poised for big IPOs

Two more companies are maneuvering into position in the busy IPO market: Glencore and Groupon. Both bring an interesting back story to the market.Glencore is the commodity market's 800-pound gorilla. The secretive Swiss-based trading house built its fortune by taking major positions in the world's metals, energy and agricultural markets. In other words, it's heavily invested in real assets — the food we eat, the fuels we burn and the materials we use in manufacturing. Read more on MarketWatch about upcoming IPOs

Last -minute tax tips

The April 18 tax deadline is almost here. Right on the heels of that bad news comes a postal rate hike going into effect on April 17. Only a few cents, but your tax returns might be returned to you, unfiled, if you don't have the extra three cents for tax returns weighing more than one ounce.That's another good reason to e-file, says Pennsylvania attorney Stephen Asbel. We're coming into the final stretch. What do you need to know this weekend? Read MarketWatch coverage of last minute tax tips

Japan's quake rattle business cycle in U.S.

The Japanese earthquake may be having more of an impact on the U.S. economy than previously believed, according to the Federal Reserve's latest Beige Book survey of current economic conditions released on Wednesday. A majority of the Fed's 12 regional districts reported "actual or expected disruptions to sales and production" as a result of the Japan earthquake. Surprisingly most of the districts that reported difficulty as a result of the Japan tragedy were on the East Coast or in the middle of the country. There were no reports of disruptions in California. Read marketwatch report on the Beige Book

What got cut in the 2001 budget resolution deal

The budget deal struck last week by Congress to keep the government from shutting down slashes money for high-speed rail projects and the Environmental Protection Agency but boosts the Pentagon's budget by about $5 billion. The agreement sets final spending levels at $1.049 trillion for fiscal 2011, which ends Sept. 30, and cuts nearly $39 billion from last year's spending levels. That's much less than Republicans sought but bigger than President Barack Obama and Democrats wanted. Read MarketWatch budget compromise cover

Time look tough if you plan to sell your house this spring

It's spring, that time of year when many prospective home buyers begin the hunt for their next residence. But with home-price declines, more foreclosures to come and slow improvements in the employment market, some say it's likely this year's buying and selling season will be another bust."We're all hoping that this spring and summer will bring about a housing rally, but there are too many impediments for that to happen," said Anthony Sanders, a professor of finance and real estate at George Mason University. Read MarketWatch coverage of spring home selling season outlook

Aussies get tough on tobacco, firms vow to fight back

Australia's push to become the first country to mandate cigarette packaging with almost no branding and huge, graphic health-warning labels has inflamed the tempers of tobacco companies, which are vowing to protect shareholder interests by taking their fight to the courts. The proposed laws would mark the latest blow to tobacco firms, already battling volume contraction, swelling illegal trade and global anti-smoking campaigns.But analysts have nonetheless identified some signs of life in the challenged, multi-billion dollar industry, with emerging markets presenting the best opportunities. Read MarketWatch coverage of Australian tobacco sector

Mining Interactive : "SPX Correction Looms 2" by Adam Hamilton



Dear Friends:
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:
Zeal Intelligence Weekly

Greetings and Regards from Zurich; and Brought to you by,


Nick Nicolaas
 
604-657-4058
www.mininginteractive.com

Financial & Forex Info | Kitco New York Market Close Report





New York Market Close Apr 15/11 05:20 PM EDT
Metals
Bid
Ask
Change
Low
High
Gold
1486.40
1487.40
10.60
0.72%
1470.50
1489.30
Silver
43.05
43.07
0.87
2.06%
41.81
43.07
Platinum
1789.00
1800.00
-2.00
-0.11%
1782.00
1833.00
Palladium
765.00
771.00
-10.00
-1.29%
762.00
782.00

The Economist | New or updated articles. Lybya | inequality in America | Aircraft | Internet Security | US Government Debt | Joan Miro | Online Debate



Into Libya: Obama the steady

Inequality in America: The 1% solution

Aircraft fatigue: Old before their time

Internet security: The web's trust issues

America's government debt: Hiding the cookie jar

Joan Miró: A vital body of work

Europe's debt crisis: Piggybacking

Online debate: This house believes that we are better off with nuclear power

MarketWatch | Personal Finance Daily: US Two easy steps to boost retirement savings

MarketWatch
Personal Finance Daily
APRIL 15, 2011

Friday's personal-finance stories

By MarketWatch



Don't miss these top stories:

Key strategies to boost your retirement savings We all knew this was tax week and National Retirement Planning Week, right? No? Well, that's OK. Retirement columnist Robert Powell said he hadn't heard of National Retirement Planning Week, either. But as he writes in his column today, that doesn't mean it's too late to do something about it.

He recommends two essential strategies to strengthen your retirement savings. First, save more. Second, pay attention to and/or get involved in public-policy decisions that affect your retirement future. That's good advice for any week of the year.

It's also not too late if you're just realizing you need some expert help on your tax return. MarketWatch Personal Finance Editor Andrea Coombes has a snappy and very useful video on where to find that help: online, on the phone, in person and even on the radio.

Remember, the deadline for federal returns is Monday, April 18. Most states, including New York, Illinois and California, have shifted their deadlines to Monday as well, but if you're not sure, watch the video and check now.

Anne Stanley , managing editor, personal finance

RETIREMENT

Two key strategies to boost your retirement savings

It's National Retirement Planning Week. Who knew? Oddly enough, not even many of those who work in the industry had a clue. In honor of this week — sponsored by an industry coalition — here's a look at two items to put on your to-think and to-do list.
Read more: Two key strategies to boost your retirement savings.


TAXES

Get answers to last-minute tax questions

If you're a last-minute filer stumped by a problem on your return, it's still possible to find a tax expert to get an answer, even at this late date. MarketWatch's Andrea Coombes points taxpayers to some resources.
 Watch video: Get answers to last-minute tax questions.


REAL ESTATE

Getting rid of your neighborhood island

When a neighborhood association is fed up with paying taxes on a useless island in a nearby river, Lew Sichelman helps them review their options.
Read more: Getting rid of your neighborhood island.


ECONOMY & POLITICS

In charts: Rising inflation and mixed jobs picture

The week's economic indicators show consumer inflation picking up across the globe and mixed reports on the employment picture.
See charts: Rising inflation and mixed jobs picture.


Consumer sentiment rises in April

Consumer sentiment improves in April, according to preliminary results for the Thomson Reuters/University of Michigan index.
Read more: Consumer sentiment rises in April.


U.S. consumer prices climb 0.5% in March

The prices paid by American consumers rose 0.5% in March, mainly because of higher gas and grocery costs, according to the latest government data.
Read more: U.S. consumer prices climb 0.5% in March.


New York manufacturing gauge best in a year

Business conditions for New York manufacturers in April turn out to be the best in a year: The New York Fed's Empire State survey of executives show a surge in new orders.
Read more: New York manufacturing gauge best in a year.


U.S. industrial output rises

U.S. industrial output rose 0.8% in March after a 0.1% gain in the previous month, the Federal Reserve reported. Capacity in use jumped to 77.4% from 76.9% in the prior month.
Read more: U.S. industrial output rises solid 0.8%.


Fed won't react to red-hot inflation

Commodity prices are surging around the world, but the Federal Reserve thinks the last thing we need now is to deliberately slow down the economy.
Read more: Fed won't react to red-hot inflation.


INVESTING

What to buy when everyone else is selling stocks

The stock market's ‘Sell in May' seasonal trading pattern is around the corner, and analysts say investors should be prepared for some rocky trading sessions that could present strong buying opportunities.
Read more: What to buy when everyone else is selling stocks.


Gold investing: What to do and how to do it

Investors can still make a lot of money in the gold market — or prevent losing it — if they do their homework before they wade through a sea of investment choices.
Read more: Gold investing: What to do and how to do it.


Investing in forests could save the world

Carbon trading isn't the only way to harness the power of markets in pursuit of sustainability, but it's tricky to invest directly in trees, writes Thomas Kostigen.
Read more: Investing in forests could save the world.


Using volume to play the market

Financial headlines scream that the markets are up on light volume, but what does it mean?
Read more: Using volume to play the market.


Finland election could spark euro jitters

Finnish politics rarely set the agenda in international financial markets, but the rise of the anti-bailout True Finns party means investors can't ignore Finland's Sunday election.
Read more: Finland election could spark euro jitters.

Financial & Forex Info News | Reuters Daily Investor Update










News

LATEST NEWS
Wall St rises on economic news
NEW YORK (Reuters) - Encouraging economic indicators sent U.S. stocks higher on Friday, but the market's recent struggles are set to continue into next week when more than one-fifth of S&P 500 companies report results. | Full Article

U.S. inflation contained, bucks global price trend
April 15, 2011 03:32 PM ET
BEIJING/WASHINGTON (Reuters) - Inflation accelerated in Asia and Europe in March while the United States bucked the global trend with underlying price pressures largely in check, leaving monetary policy on diverging paths around the world. | Full Article
BofA profit drops as foreclosure delays hurt bank
April 15, 2011 03:38 PM ET
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted an unexpectedly sharp drop in first-quarter profit as higher expenses from delayed home foreclosures weighed on its mortgage business. | Full Article
Fed's Hoenig worried on inflation; Evans not
April 15, 2011 03:58 PM ET
WEST LAFAYETTE, Indiana (Reuters) - To judge by their polar opposite reactions, two top U.S. Federal Reserve officials could have been looking at completely different sets of U.S. inflation data on Friday. | Full Article
With Lubrizol, Buffett a chemical industry baron
April 15, 2011 03:22 PM ET
NEW YORK (Reuters) - Here's something you may have missed amid all the hoopla about Warren Buffett's Lubrizol buyout: the "Oracle of Omaha" is now a baron of the global chemical industry. | Full Article
US TOP NEWS
Republicans set 2012 budget battle with Obama
April 15, 2011 02:54 PM ET
WASHINGTON (Reuters) - Republicans in the House of Representatives united on Friday behind a 2012 budget plan that would slash trillions of dollars in government spending while cutting taxes, setting the stage for acrimonious debt and deficit negotiations with President Barack Obama. | Full Article
G20 agrees plan to detect danger spots: sources
April 15, 2011 03:16 PM ET
WASHINGTON (Reuters) - Finance chiefs from the world's big economies agreed on Friday on a plan for identifying countries whose policies could put the global economy at risk if left unchecked, Group of 20 sources said. | Full Article
Internet gambling sites owners charged with fraud
April 15, 2011 03:58 PM ET
NEW YORK (Reuters) - The owners of three of the largest Internet poker companies operating in the United States were accused on Friday of tricking regulators and banks into processing billions of dollars of illegal Internet gambling proceeds. | Full Article
Barbie helps Mattel win market share; shares rise
April 15, 2011 12:28 PM ET
NEW YORK (Reuters) - Mattel Inc beat quarterly sales expectations and gained market share on strong demand for its mainstay Barbie dolls and newer lines such as Monster High, sending its shares up 5 percent. | Full Article
Ireland gets thumbs-up from EU/IMF
April 15, 2011 01:38 PM ET
DUBLIN (Reuters) - A Moody's downgrade and growing speculation Greece may eventually restructure its debt took the shine off Ireland's thumbs-up from the EU and the IMF on Friday for its efforts to claw its way back from crisis. | Full Article
HEALTH NEWS

CBSNEWS | Political Hotsheet: House GOP passes $3.5 trillion budget plan

The CBS News Political Hotsheet newsletter

CBS POLITICAL HOTSHEET TOP STORIES



Paul Ryan proposal would cut $6 trillion over ten years, includes changes to Medicare and Medicaid and tax cuts for wealthy
Read full story
House GOP passes $3.5 trillion budget plan

Oklahoma turns down $54M for health care reforms Oklahoma rejects huge grant to pay for its state health insurance exchange even though the state faces a significant budget shortfall

Obama laments lack of "We can't get our phones to work," president says during fundraiser in Chicago

Jon Huntsman to Obama: You're Potential GOP presidential candidate and outgoing ambassador to China offered kind words for president, potentially complicating campaign

Why today isn't tax day Procrastinators have three more days to file their tax return thanks to a holiday for Washington, D.C., residents

The Washington Post Afternoon Edition | Politics : House passes GOP’s 2012 budget plan

The Washington Post
Politics Afternoon Edition

HEADLINES

House passes GOP’s 2012 budget plan

  1. Voting along party lines, the House approved the $3.5 trillion GOP blueprint 235 to 193 after final debate was repeatedly interrupted by protesters chanting and singing in the gallery. Four Republicans joined all Democrats in voting “no.”
    » Read full article
  2. DCCC Chair: Dems will win back House

  3. Steve Israel said that Dems plan to use the Medicare vote today to go on the offensive against Republicans from now all the way until Election Day 2012.» Read full article
  4. Iowa Republican Rep. Tom Latham (R) will forego a primary race against Rep. Steve King (R) in the newly drawn 4th district and will instead travel south to challenge Rep. Leonard Boswell in the 3rd, the first of many redistricting-forced incumbent versus incumbent matchups in the 2012 election.
    » Read full article

    The Fix: Mitt Romney’s pitfalls

    What will be the biggest hurdle of Mitt Romney’s presidential campaign?
    » Read full article

    Ezra Klein: The second worst idea in Washington

    There’s talk that the McCaskill-Corker spending cap will be the cost of raising the debt ceiling. This would be, to put it simply, completely insane.
    » Read full article
  5. GOP congressmen to face off thanks to Iowa redistricting

Financial & Forex Info | Reuters - Deal Today








News

Groupon is likely to pick Goldman Sachs and Morgan Stanley to lead a second-half initial public offering that could value the fast-growing daily deals site at $15 billion to $20 billion, according to a source.

Commodity trader Glencore's planned $12 billion London listing has long been seen as the first step to merging with Xstrata, in what could be the biggest mining takeover in history. The question for most analysts and investors since the IPO was confirmed is not if the deal happens but when -- and how.

BP's partners in its Russian venture TNK-BP rejected the UK oil major's offer to settle a dispute caused by its $18 billion tie-up with Rosneft, casting further doubt on the deal.

The New York Times reports that CVS Caremark is under pressure from consumer groups and shareholders to split up the merger of the drugstore chain and the pharmacy benefits manager. Regulators are also investigating whether the company used anticompetitive behavior.

Financial & Forex Info | Reuters - Before The Bell: Futures flat after Bank of America results









News
LATEST NEWS
Futures flat after Bank of America results
NEW YORK (Reuters) - Stock index futures were little changed on Friday after Bank of America Corp said mortgage-related costs added to a drop in profit, giving investors more reason to be cautious about earnings. | Full Article

BofA Q1 profit lower than expected; names new CFO
April 15, 2011 07:26 AM ET
CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted a 37.5 percent decline in first-quarter earnings and named a new chief financial officer. | Full Article
Banks, SEC in talks to settle mortgage charges: report
April 15, 2011 07:52 AM ET
(Reuters) - The securities regulator is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter. | Full Article
Costs erode Mattel's quarterly profit
April 15, 2011 07:40 AM ET
NEW YORK (Reuters) - Mattel Inc, maker of Barbie dolls and Hot Wheels cars, reported a 33 percent drop in first-quarter earnings on higher costs. | Full Article
BP faces angry oil spill protesters at AGM
April 15, 2011 07:17 AM ET
LONDON (Reuters) - BP's annual shareholder meeting was disrupted by campaigners protesting against the oil giant's role in the Gulf of Mexico spill, while investors registered their disapproval with big votes against directors. | Full Article


MarketWatch | Indications: U.S. stock futures slip after Google disappoints



By Simon Kennedy, MarketWatch 

LONDON (MarketWatch) — U.S. stock futures pointed to a slightly lower start for Wall Street Friday, with shares of Google Inc. down sharply in premarket trading after the Internet search giant’s earnings disappointed investors.
Shares of Google /quotes/comstock/15*!goog/quotes/nls/goog (GOOG 544.72, -33.79, -5.84%)  dropped 5.4% before the open after the company reported a 17% rise in quarterly profit, but fell short of market expectations because of rising spending. Read more on Google's results.
Futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\m11 (DJM11 12,205.00, -23.00, -0.19%)  dropped 18 points to 12,210, and Standard & Poor’s 500 index futures /quotes/comstock/21m!f:sp\m11 (SPM11 1,306.60, -3.60, -0.28%)  slipped 1.6 points to 1,308.6.

Apple, Intel due to report earnings

Apple, Intel and Qualcomm will post quarterly results in coming days, and that will take the pulse of the U.S. tech sector.
Nasdaq 100 futures /quotes/comstock/21m!f:nd\m11 (NDM11 2,294.00, -6.75, -0.29%)  fell 1 point to 2,299.75.
On Thursday, U.S. markets closed marginally higher, helped by gains for consumer staples and energy stocks. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 12,285.15, +14.16, +0.12%)  closed up about 14 points.
Mike Lenhoff, chief strategist at Brewin Dolphin, said he expects the number of companies reporting worse-than-expected results to rise from the past few earnings seasons.
“Expectations may have been set a little too richly,” Lenhoff said.
The spike in commodity prices over the first quarter and rising interest rates in developing markets are likely to impact revenue at many companies, he added.
On the economic front Friday, figures on March consumer prices are due at 8:30 a.m. Eastern, as is the New York Fed’s Empire State index for April.
Those releases will be followed by data on March industrial production at 9:15 a.m. Eastern, and an April view of consumer sentiment due after the market opens.
The dollar fell 0.5% against the yen to ¥83.218, but traded higher against the euro after Moody’s Investors Service cut its rating on Irish government bonds by two notches. The euro declined 0.3% to $1.4454.
Oil futures were broadly steady in electronic trading. Light crude for May delivery fell 12 cents to $107.99 a barrel on the Globex market.

Bank of America reports

Among other companies in focus, Bank of America Corp. /quotes/comstock/13*!bac/quotes/nls/bac (BAC 13.27, +0.14, +1.07%)  said its first-quarter profit fell to 17 cents a share from 28 cents a share in the year-earlier period. Shares of the company declined 1.1% in premarket trading.
Bank of America is the second major U.S. financial company to report results after J.P. Morgan Chase & Co. /quotes/comstock/13*!jpm/quotes/nls/jpm (JPM 45.15, +0.18, +0.40%) earlier this week. J.P. Morgan’s results suggested mortgage and home-equity results from other big banks may disappoint, while credit-card performance could be strong. Read more the outlook for banks' results.
Toy maker Mattel Inc. /quotes/comstock/15*!mat/quotes/nls/mat (MAT 26.51, +0.77, +2.99%)  said its first-quarter profit slipped to 5 cents a share from 7 cents a share in the year-ago period, while sales rose about 8% to $951.9 million. On average, analysts polled by FactSet Research had been expecting earnings of 4 cents a share and sales of $905.1 million.
European markets were mixed Friday. Germany’s DAX 30 index /quotes/comstock/30p!dax (DX:DAX 7,163.10, +16.54, +0.23%)  was among the stronger performers, rising 0.6% in late-morning trading.
Asian markets closed mostly lower, including a 0.6% drop for Japan’s Nikkei Stock Average /quotes/comstock/64e!i:ni225 (JP:NI225 9,591.52, -62.40, -0.65%) , after Chinese data showed an acceleration in inflation. Read more about the reaction to China’s data.
/quotes/comstock/15*!goog/quotes/nls/goog Google Inc (GOOG)
/marketstate/country/US The market is open8:39:10 am The market is closed8:39:10 am
$ 544.72 Change -33.79 -5.84%
Volume 5.46m Real time quotes
/quotes/comstock/21m!f:sp\m11 SP500 IDX JUN1 (SPM11)
/marketstate/country/US The market is open8:38:44 am The market is closed8:38:44 am
$ 1,306.70 Change -3.50 -0.27%
Volume 2,148 Real time quotes
/quotes/comstock/21m!f:nd\m11 NASD 100 JUN1 (NDM11)
/marketstate/country/US The market is open8:38:44 am The market is closed8:38:44 am
$ 2,294.00 Change -6.75 -0.29%
Volume 38.00 Real time quotes
/quotes/comstock/13*!jpm/quotes/nls/jpm JPMorgan Chase & Co (JPM)
/marketstate/country/US The market is open8:36:57 am The market is closed8:36:57 am
$ 45.15 Change +0.18 +0.40%
Volume 45.21m Real time quotes
/quotes/comstock/15*!mat/quotes/nls/mat Mattel, Inc (MAT)
/marketstate/country/US The market is open8:33:49 am The market is closed8:33:49 am
$ 26.51 Change +0.77 +2.99%
Volume 5.44m Real time quotes
Simon Kennedy is the City correspondent for MarketWatch in London.