Bond Yields decreased on 10-year U.S. bonds to 3.56% and on 30-year bonds fell to 4.27%.

Commodities, Metals, and Currencies

Crude oil rose $1.24 to close at $90.65 per barrel for a front month contract, natural gas increased 18 cents to $7.982 per mBtu, and gasoline futures increased 3.42 cents to close at 231.70 cents per gallon.

Gold increased $8.80 in New York trading to close at $914.60 per ounce, silver closed up 19 cents to $16.53 per ounce, and copper for front month delivery increased 1.25 cents to 318.40 per pound and in London copper futures increased $145.00 to $7,049.00.

Dollar edged higher against euro to $1.4672 and gained edged lower yen to 106.7351.


3:00PM New York, 8:00PM London - Homebuilders, financial stocks drag U.K 0.12% down. Kingfisher appoints Ian Cheshire Group Chief Executive

Stocks in London plunged in the afternoon session led by homebuilders and financial stocks.

In London trading FTSE 100 fell 0.12% or 6.8 to 5,869.00.

Of the 102 FTSE100 stocks, 39 gained, 60 declined and 3 were unchanged. Imperial Tobacco led advancing stocks with a rise of 9.02%, followed by Vedanta Resources gaining 7.21% as oil prices increased and metals rose to record highs.

Merger News

Carlsberg and Heineken announced today that the company Scottish & Newcastle boards have agreed for 7.8 billion pounds merger deal. Under the terms of the deal Carlsberg will assume 54.5% equity, while Heineken will take 45.5%. Scottish & Newcastle close up 2.22%.

The Scotland based brewer will be split along the geographic lines with operations in China, Vietnam, France, and Russia controlled by Carlsberg and in India, UK, US, Portugal, Ireland, and Belgium will be controlled by Heineken.

The deal still needs approval of shareholders.

Old Mutual announced today on its website that discussions are continuing with Royal Bafokeng Holdings Limited concerning the potential sale by Old Mutual to RBH of a controlling stake in Mutual & Federal Insurance Company Limited.

Gold Stocks

Gold prices rose 1.1% to reach a record $922.59 per ounce, while platinum gained 2.8% to $1,655 an ounce after South African power utility Eskom Holding Limited asked mining companies to reduce energy consumption. The companies had agreed on power cuts that could lower the production between 10% and 15%.

AngloGold Ashanti Limited and Gold Fields have stopped production in the country. Xstrata Plc jumped 3.15% and BHP Billiton spiked 2.24% on the news.

Crude oil prices also advanced as investors surmised that U.S. stimulus plan will keep the demand for crude oil and gasoline rising.

Kingfisher