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Market Update Analysis: 
UBS, Deutsche Telekom in Fcous
Author: 123jump.com Staff
123jump.com
Last Update: 5:41 PM EDT May 05 2008


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European markets closed unchanged in a quiet trading. Markets in UK were closed. Crude oil surged 3% on the continued worries related to Nigerian oil supply. Natural gas, crude oil and precious metals rebounded. Gold, Silver and several food commodities clossed higher. Deutsche Telekom is liklely to bid for Sprint. Deutsche Post said that it has met its first quarter operating profit target.

 
Crude oil increased $3.67 to close at $119.99 a barrel for a front month contract, natural gas increased 40 cents to $11.18 per mBtu, and gasoline futures increased 8.46 cents to close at 305.10 cents per gallon.

Gold increased $16.10 in New York trading to close at $874.10 per ounce, silver closed up $0.36 cents to $16.83 per ounce, and copper for front month delivery increased 12.70 cents to $3.9475 per pound.

Wheat futures decreased 3.50 cents in Chicago trading and closed at $8.05 per bushel. Sugar decreased 1 cent to $11.48 per pound. Soybean future closed down 18.50 cents to $12.85 a bushel.

Dollar edged lower and traded near record low against euro to $1.5490 and edged lower against yen to 104.81.

Yields on U.S. bonds decreased to 3.85% with 10 years of maturities and increased 4.59% with 30-year of maturities.
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