JAKARTA, INDONESIA--Its currency and economy decimated by the lingering Asian financial crisis, Indonesia received welcome news Tuesday, when the Worl...
South Korean President Lee inspects troops. Jonas Parello-Plesner works as senior advisor with the Danish government on Asian affairsand is c...
Freeport-McMoRan Copper & Gold Inc., the world's largest publicly traded copper company, reports second-quarter results Tuesday before the market opens. Here is a summary of key developments related to the period.
OVERVIEW: The Phoenix-based company was targeted by violence this month in Indonesia, where it operates the world's largest gold mine in the eastern Papua province. At least 15 people were killed or wounded.
In addition, two company employees were injured last week during suicide bombings at hotels in Jakarta, Indonesia's capital.
On the financial front, copper prices have improved as demand has picked up overseas, particularly in China and other emerging markets.
Copper futures rose 56 percent in the first six months, closing at $2.2720 a pound June 30 on the New York Mercantile Exchange. On Friday, copper futures closed at $2.4230 a pound, compared with $3.715 a pound a year ago.
World stock markets rose solidly once more Friday as better-than-expected earnings in the U.S. continued to buoy recovery hopes, but Indonesian markets were shaken by deadly bomb blasts at hotels in the country's capital.
In Europe, the FTSE 100 index of leading British shares was up 28.23 points, or 0.7 percent, at 4,390.07 while France's CAC-40 was up 30.80 points, or 1 percent, at 3,230.48. Germany's DAX breached the 5,000 level for the first time in a month, trading 45.60 points, or 0.9 percent, higher at 5,002.79.
Earlier in Asia, Japan's Nikkei 225 stock average rose 51.16 points, or 0.6 percent, to 9,395.32 and Hong Kong's Hang Seng was up 443.79, or 2.4 percent, at 18,805.66.
One country bucking the upward trend was Indonesia, which saw its main stock measure drop after a pair of powerful explosions killed eight and wounded at least 50 people at the upscale Ritz-Carlton and Marriott hotels in Jakarta. The country's currency, the rupiah, dropped almost 1 percent against the dollar.
Overall though, investor appetite for stocks continues after a string of better than expected U.S. second-quarter corporate earnings, not least from technology bellwethers IBM Corp. and Google Inc. Their strong after-hours statements reinforced hopes that the worst of the recession is over.