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Overnight Market News – July 20, 2009

 
  • CIT Group Inc to Announce Deal for USD 3B Rescue Financing from Bondholders to Avoid Bankruptcy
  • National Association for Business Economics’ (NABE) Quarterly Survey Indicates US Economy Appears to be Improving, but Downturn Not Over
  • UK Economy to Contract 4.5% in 2009, Worse than Government’s Forecast of 3.5% and the Biggest Decline in A Single Year According to Ernst & Young Item Club
  • Nissan Motor Co, Renault SA to Start Producing Lithium-Ion Batteries for Electric Cars at UK and Portugal Factories
  • Iceland Announces GBP 1.3B Plan to Boost Banking System, Gov’t to Fund 3 New Banks it Will Create from Failed Ones
  • Porsche Automobil Holding SE Expected to Accept Offer from Volkswagen AG to Buy Its Sports-Car Business for EUR 8B (USD 11.28B) Later This Week
  • Crude Oil Stands at USD 64.77 per Barrel
  • Ethanol Stands at USD 1.63 per Gallon
  • Natural Gas Stands at USD 3.74 per British Thermal Unit (Btu)
  • Gold Stands at USD 937.20 per Troy Ounce
  • Dow Jones Industrial Average Rises 32.12 Points (0.37%)
  • London FTSE Index Rises 65.59 Points (1.49%)
  • Japan Nikkei Index Rises 51.16 Points (0.55%)
  • Hong Kong Hang Seng Index Rises 696.71 Points (3.70%)
  • Brazil Bovespa Index Rises 154.29 Points (0.30%)
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