Bank of America beats expectations with US$2.4B Q-2 profit

July 20, 2009 Bookmark and Share

joined the crowd of financial institutions reporting good last week. The Charlotte, N.C., beat the expectations of by saying today that it had a US$2.42B Q-2 after the payment of preferred . has struggled through the acquisitions of lender Countrywide Financial Corp. and & Co., and looks like it is getting its financial house in order. After rising in early , shares fell 35 cents to $12.82 in mid-day . The second-quarter amounted to 33c per share and compared with a US$3.22B, or 72c, a year earlier. Although the numbers were below last year’s, the still beat the forecasts of surveyed by Thomson , who predicted the would come in at 28c per share.

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Gold gains for fourth session, closing above US$940 oz, Platinum followed.

July 5, 2009 Bookmark and Share


on the COMEX Division of the ended higher for the fourth session on Friday, buoyed by the record low interest rate and a weak dollar. Silver and platinum went up, too. price for August delivery gain US$1.50 (0.2%) closing at US$ 941oz. It is the first time for the yellow metal stands above US$940 in almost three weeks despite -taking ahead of weekend pared the gains after the contract touched its intraday high of US$949. Savvy market observers say that ’s appeal of hedging continued being fueled after the Fed Reserve decided on Wednesday to keep the benchmark interest rate at a record low level between zero and 0.25% “for an extended period.” In response to a report released by People’s of China, the US$ went down and provided some bullish support to the precious metal earlier in the session. The Chinese central reiterated that it will push the reform of the international currency system to make it more diversified and lessen US$’s role as the world’s reserve currency. September Silver finished at US$14.156 oz, up 12.4 cents. October Platinum rose US$13.70 to US$1,210.70 oz.

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