| U.S. wholesale inventories fall for 13th month | (Reuters)
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| 6 November 2009 | WASHINGTON - U.S. wholesalers continued liquidating their inventories in September, with stocks falling for the 13th consecutive month and sales increasing for the 5th straight month, Commerce Department Data showed on Friday. The drop in inventories, 0.9 percent, was smaller than the 1 percent decline analysts polled by Reuters expected. August’s drop remained unrevised at 1.3 percent.
Sales rose a stronger-than-expected 0.7 percent in September after increasing 1.1 percent in August, which was previously reported as 1 percent.
The shrinking stocks pushed the inventory-to-sales ratio, or a measure of how long it would take to sell off stocks at the current pace down to 1.18 months’ worth from 1.20 months’ in August. That was the lowest since a matching 1.18 months’ last September.
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| BIZ TALK |
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| Growth, valuation to keep Europe share alive |
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European equities have a lot more ammunition to fire in 2010 even after an eight-month bull run to new highs, as improving economic data and impressive earnings in the third quarter tempt investors to grab risky assets.
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| GOLD |
Nov 21, 2009 |
| Type |
Morning |
Yesterday |
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138.00 AED |
136.00 AED |
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129.00 AED |
127.50 AED |
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| ECONOMIC INDICATORS |
| Housing data in focus as Wall Street rally pauses |
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NEW YORK - Key housing sector data may provide direction for Wall Street in the coming week as the market looks for confirmation of economic recovery and girds for the year-end holiday period.
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| BIZ SHOTS |
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