• Toyota (NYSE:TM) reported a June quarter loss of $819 million, reflecting sluggish US sales and a stronger yen, which offset cost-cutting measures and inventory decreases; however, the firm cut its loss forecast on the year by about 18% to $4.7 billion

• Xstrata, the world's fifth largest diversified mining group, reported a 77% fall in six month results to 38 cents a share adjusted from $1.66, although above estimates of 33.6 cents

• UBS (NYSE:UBS) reported a higher-than-expected second quarter loss of $1.32 billion, which was less than the prior quarter loss. The bank's Tier 1 capital ratio rose to 13.2% at quarter's end from 10.5% at the beginning of the quarter

• Vulcan Metals (NYSE:VMC) reported a second quarter earnings of 14 cents, ex-items, versus estimates of 20 cents a share, as revenues fell 29.3% from a year earlier to $721.9 million, off estimates of $759.1 million. The firm said it

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U.S. stocks rose to their highest levels since November as upbeat reports on construction and strong bank profits spurred hopes that the global economy is gaining strength.  Investors found new reason to put money into stocks, pushing all major averages up at least 1%.  The broader S&P 500 breached the 1,000 level for the first time since November 5.  Helping sentiments further was Chinese manufacturing data that jumped to its highest level in a year.   

Premarket futures suggest stocks are likely to fall as profit taking emerges.  Dow Jones industrial average futures are down 46 to 9,202. Standard & Poor's 500 index futures are down 6 points to 994, while Nasdaq 100 index futures are down 10 points to 1,616.

On Monday, the DJIA rose 115 points, or 1.3%, to close at a nine-month high of 9286.  The index is up 42% from its twelve-year lows hit on March

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* Reports suggest Xstrata and Anglo American (NASDAQ:AAUK) are engaged in merger talks in a deal which could total about $68 billion and result in the combined firm becoming the world's number-three miner behind BHP Billiton (NYSE:BHP) and Vale (NASDAQ:VALE)

* Reuters reported 100,000 of Apple (NASDAQ:AAPL) iPhone 3Gs were sold via preorders, explaining away some of the launch's diminished excitement level. Some news reports said Steve Jobs underwent a liver transplant two months ago in Tennessee, and is still due back at month's end

* Walgreen (NYSE:WAG) is expected to report fiscal third-quarter earnings of 56 cents a share

* UBS (NYSE:UBS) upgraded Vulcan Materials (NYSE:VMC) to "buy," based upon housing and infrastructure recovery

* JP Morgan (NYSE:JPM) upgraded Verisign (NASDAQ:VRSN) to "overweight" from "neutral"

* According to a Wall Street Journal report, Amazon.com (NASDAQ:AMZN) may stop conducting businesses with some retailers in states, which would force sales tax payments on online transactions

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After an off day on Monday, with the LME closed for holiday, the base metals were mixed on Tuesday. Copper pushed as high as $2.15 early in the pre-dawn hours, but that was it as it sank pretty much straight through the day from there, just coming off its intraday lows to finish at $2.0468/lb., down nearly 4 cents from Friday.

Nickel peaked above $5.50 before it too declined, but it managed to eke out a gain late, closing at $5.3206/lb., up just over a penny. Zinc traded mostly sideways, ending at $0.6744/lb., up less than a half-cent. Aluminum also wound up at $0.6744/lb., down less than a quarter-cent, while lead posted a modest gain to $0.6362/lb., up just under a penny.

Copper backed off its gains, falling from a 2-week high as declining equities and a strengthening dollar were the main drivers of the day, along with perhaps

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The base metals were all gushing red on Thursday. Copper was in the green until New York opened, then down it went, falling especially steeply in late morning, and barely coming off its intraday lows to finish at $1.9542/lb., down nearly 6 cents.

Nickel started down earlier, but was off as sharply, closing at its intraday low of $4.9872/lb., down almost 16 cents. Zinc followed a similar path, shedding 2 cents, to $0.6247/lb. Aluminum was modestly lower, ending at $0.6408/lb., down less than a half-cent, while lead fell to its intraday low of $0.6478/lb., down 2 cents.

Copper led the other industrial metals deep into the red, as the unemployment numbers out yesterday had traders questioning the possibility of economic resurgence anytime soon, and many decided to cash out recent gains.

“Copper’s price correction was exacerbated by earlier losses in equity markets and data showing a further deterioration in the labor and housing

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FTSEurofirst 300 up 1.1 pct on the day, up 13 pct on week… Index lost 7 pct in Nov, ninth month of losses in 2008… Cyclicals hammered; defensive pharmas surge

European stocks ended higher on Friday, as buoyant pharmaceutical shares eclipsed a drop in cyclical mining and industrial sectors hit by renewed economic fears, while energy shares tumbled along with oil.

The FTSEurofirst 300 index of top European shares closed 1.1 percent higher at 862.07 points.

Although it gained 13 percent during the week, the index dropped 7 percent in November, recording a ninth month of losses in what has been a torrid 2008 for equities worldwide.

Pharma stocks made strong gains on Friday, with GlaxoSmithKline up 5.1 percent and Sanofi-Aventis up 4.5 percent. Novartis , whose CEO said the company could increase its dividend and also resume share buybacks

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THE PRICE OF SPOT GOLD bounced 1.6% from an overnight low of $860 on Wednesday, steadying at $876 an ounce as Western stock markets ticked higher despite a raft of miserable Eurozone data. Crude oil rose back above $100 per barrel, while long-dated government bonds continued to rise in price, pushing yields still further below the rate of inflation. The Dollar slipped from two-week highs on the currency markets. "European economic woes should sustain the greenback's safe-haven appeal today," believes Manqoba Madinane at Standard Bank in Johannesburg , "despite downside correction warnings from technical momentum indicators, and this could impact precious metals. "Several other warnings of downside risk for precious metals have emerged," he adds, noting that CDX investment grade credit spreads have narrowed, "indicating receding financial market system risk." Tuesday saw inter-bank lending rates leap yet again, however, with the cost of raising ...

Trading on the American Stock Exchange (AMEX), Tanzanian Royalty Exploration Corporation is a financial gold company whose business strategy is to acquire royalty interests in gold production from their core assets. These assets are in the Lake Victoria Greenstone Belt of Tanzania. This Belt is considered prospective for precious metals, base metals, and diamonds. With a market capitalization of $241.60 million, the company has their corporate headquarters in Surrey, British Columbia.

Tanzanian Royalty’s strategy is to develop their licenses under royalty agreements with industry partners. They have royalty agreements with Barrick Gold and Northern Mining Explorations. The company is also the largest individual landholder in the Kabanga Nickel Belt of Tanzania. This Belt is home to the high-grade Kabanga Nickel Project, which is a joint venture between Xstrata and Barrick Gold.

Founded in 1990, the company was formerly Tan Range Exploration Corporation and changed their name to Tanzanian Royalty Exploration

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