The federal regulator of Fannie Mae and Freddie Mac on Wednesday proposed an overhaul of how the mortgage funding giants would serve the nation's housing market. The Federal Housing Finance Agency said for 2010 and 2011 it is planning goals for single-family home purchases for low-income families, very low-income families and families in low-income, high
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Stocks rose on Wednesday, boosted by strong results from farm equipment maker Deere & Co (DE.N), while data showed housing starts rebounded more strongly than expected. The Dow Jones industrial average (.DJI) rose 26.45 points, or 0.26 percent, to 10,295.26. The Standard & Poor's 500 Index (.SPX) gained 4.08 points, or 0.37 percent, to 1,098.95.
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U.S. housing starts hit their highest in six months and industrial output rose a solid 0.9 percent in January in signs an economic recovery was taking a firm hold as the year began. Groundbreaking activity for new homes increased 2.8 percent to a seasonally adjusted annual rate of 591,000 units, reversing the prior month's weather-induced
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Spot gold hit a one-month peak and euro-priced bullion rose to record highs in Europe on Wednesday, supported by strong investment interest and news that South Africa is to levy royalties on minerals exports. Spot gold rose as high as $1,126.85 an ounce, its highest since Jan. 20, while euro-priced gold rose to a record
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World stocks rose on Wednesday and the euro held on to most of the previous day's sharp gains as strong company earnings from both sides of the Atlantic shifted focus away from concerns about euro zone debt. French bank BNP Paribas rose more than 3 percent after it took fewer bad debt provisions than expected
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Oil rose towards $78 a barrel on Wednesday, supported by a weaker dollar and gains in stock markets on renewed investor risk appetite as concerns about a euro zone debt crisis subsided. U.S. crude for March delivery rose 43 cents to $77.44 a barrel at 1045 GMT, after closing 3.9 percent higher on Tuesday, the
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Rallying banks helped lift European shares to a two-week high on Wednesday, with equities rising for the third session, as forecast-beating results from BNP Paribas fuelled confidence in the banking sector. By 1126 GMT, the pan-European FTSEurofirst 300 index of top European shares was up 0.9 percent at 1,011.56 points after rising to a high
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Britain's top share index was up 0.6 percent by midday on Wednesday as financials and miners rose, bolstered by growing confidence on the global economic outlook, while Man Group jumped on M&A talk. By 1148 GMT the FTSE 100 was up 30.14 points, at 5,274.20, touching a two-week high after it added 1.5 percent on
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France's biggest listed bank BNP Paribas took fewer bad debt provisions than expected in the fourth quarter, helping it beat profit forecasts, and said these charges would be lower again in 2010. BNP struck a relatively confident note despite the economic uncertainty clouding the banking industry. Its profit was up on the previous quarter and
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Stock index futures pointed to a higher open on Wednesday, boosted by strong results from farm equipment maker Deere & Co, as investors awaited data on the housing market and industrial production. Corporate earnings continue to pour in, as Deere & Co (DE.N), surged 7.6 percent to $57.87 in premarket trade after posting first-quarter results
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