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SALES AND CLOSING U.S. TREASURY BOND PRICES
Published in Saudi Press Agency on 03 - 07 - 2006

U.S. STOCKS ROSE ON MONDAY IN LIGHT PRE-HOLIDAY TRADING, LED BY STRENGTH IN THE FINANCIAL SECTOR AND ALUMINUM GIANT ALCOA AS INVESTORS SPECULATE IT MAY BE THE LATEST TAKEOVER TARGET AMID RECENT DEALS IN THE METAL INDUSTRY, ACCORDING TO REUTERS.
THE DOLLAR FELL AGAINST THE EURO ON A SURPRISING DECLINE IN A KEY GAUGE OF U.S. MANUFACTURING ACTIVITY, WHILE TREASURY DEBT ENDED MOSTLY LOWER.
U.S. TRADING IN OIL AND GOLD WAS CLOSED BEFORE THE U.S. INDEPENDENCE DAY ON TUESDAY.
THE U.S. STOCK MARKET CLOSED EARLY AT 1700 GMT, WHILE THE U.S. TREASURY BOND MARKET WRAPPED UP TRADING AT 1800 GMT. ALL U.S. MARKETS WILL BE CLOSED ON TUESDAY. TRADING WILL RESUME AT REGULAR HOURS ON WEDNESDAY.
U.S. STOCKS GOT A BOOST FROM CITIGROUP INC., THE WORLD'S NO. 1 FINANCIAL SERVICES COMPANY, WHICH BUOYED THE FINANCIAL SECTOR. CITIGROUP CHAIRMAN AND CHIEF EXECUTIVE CHARLES PRINCE HAS REJECTED THE IDEA OF BREAKING UP THE WORLD'S NO. 1 FINANCIAL SERVICES COMPANY, ACCORDING TO THE LATEST EDITION OF THE FINANCIAL WEEKLY BARRON'S.
CITIGROUP'S STOCK ROSE 1.5 PERCENT TO $48.97.
"WHEN YOU GET THE BIGGEST NAME IN THE SECTOR STRONGER, PEOPLE ARE GOING TO FOLLOW INTO THE OTHER NAMES," SAID MICHAEL JAMES, SENIOR TRADER AT WEDBUSH MORGAN IN LOS ANGELES.
ALCOA, A DOW COMPONENT AND THE WORLD'S BIGGEST ALUMINUM PRODUCER, ROSE 2.3 PERCENT TO $33.09 A SHARE ON TAKEOVER TALK. ANALYSTS SAID RIVAL METAL PRODUCERS MAY BE READY TO ACQUIRE ALCOA, WHOSE SHARES HAVE UNDERPERFORMED DESPITE A SURGE IN WORLD ALUMINUM PRICES.
THE DOW JONES INDUSTRIAL AVERAGE ROSE 77.80 POINTS OR 0.70 PERCENT, TO END AT 11,228.02, AND THE STANDARD & POOR'S 500 INDEX GAINED 9.99 POINTS OR 0.79 PERCENT, TO FINISH AT 1,280.19. THE NASDAQ COMPOSITE INDEX CLIMBED 18.34 POINTS, OR 0.84 PERCENT, TO CLOSE AT 2,190.43.
AFTER THE U.S. STOCK MARKET'S EARLY CLOSING BELL, GENERAL MOTORS CORP. REPORTED A 25.9 PERCENT DROP IN ITS U.S. VEHICLE SALES IN JUNE.
IN CONTRAST, TOYOTA MOTOR CORP. -- NOW NO. 3 IN THE U.S. MARKET -- SAID ITS U.S. VEHICLE SALES SHOT UP 14 PERCENT IN JUNE.
IN THE ABBREVIATED REGULAR TRADING SESSION, GM'S STOCK FELL 1.3 PERCENT TO $29.41 AND HELPED LIMIT THE DOW'S GAIN, WHILE THE U.S.-LISTED SHARES OF TOYOTA ROSE 0.4 PERCENT TO $105.04. IN AFTER-HOURS TRADING, THOUGH, ON THE INET ELECTRONIC BROKERAGE NETWORK, GM'S STOCK ROSE TO $29.60.
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04/07/2006 00:52 ت م


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