Archive for October, 2008

By John Aglionby in Jambi province, Financial Times, 31 Oct 2008Plummeting prices forced Asnawi to close his three-year-old oil palm fruit transportation business in the Indonesian province of Jambi two weeks ago. “In August, the [palm oil] factories were paying me Rp1,800 ($0.16, €0.13,

* Stocks gain on credit thaw optimism * Financials lead the way, JPMorgan gains 6 pct

* FTSEurofirst 300 <.FTEU3> index closes up 2.8 percent * Index off 12.7% in October, worst fall since Sept. 2002

* FTSE 100 ends up 2 pct at 4,377.34, capping best ever week * FTSE closes worst October since 1987 market crash

* Dollar broadly firmer; yen up on risk aversion * Gloomy U.S. data further fans recession fears

* Oil falls nearly 2 percent * U.S. economy shrank 0.3 percent in third quarter

(Updates to open) NEW YORK, Oct 31 (Reuters) – U.S. stocks opened lower onFriday with the Dow headed for its worst month in more than twodecades, on more evidence of a deep economic slowdown and aftersources said the General Motors-Chrysler merger is on hold.

* Dollar broadly firmer; yen up on risk aversion * Weaker stocks drive currency movements

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