STOCKS NEWS US-Goldman upgrades coal sector, shares soar

Stocks on the move [HOT-RTRS] Real-time Equity news [U E] [RESF/US]
U.S. stock market report [.N]

1021 ET 04May2009-Goldman upgrades coal sector, shares soar
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Shares of coal companies rallied on Monday after Goldman Sachs upgraded the
sector to "attractive" from "neutral," citing economic growth in China, "which
could improve sentiment and ultimately global demand for metallurgical coal."
Goldman also forecast less coal-to-gas substitution during the summer
months, and for U.S. coal inventories to peak in April on a days-of-demand
basis.
The Dow Jones U.S. Coal index <.DJUSCL> soared 11 percent to 213.52, while
Arch Coal Inc surged 11 percent to $17.26, Foundation Coal Holdings Inc
was up 12 percent to $20.52 and Patriot Coal Corp gained 14
percent to $8.76.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

1013 ET 04May2009-U.S. construction spending up in March
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U.S. construction spending rose in March, the first increase since
September, according to government data.
Spending increased by 0.3 percent, compared with the analyst estimate for a
drop of 1.5 percent.
For details, see [nN04391664]
Following the release of the data, the Dow Jones U.S. Heavy Construction
index <.DJUSHV> rose 5 percent to 310.01.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

1010 ET 04May2009-Markets extend gains after data
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Major U.S. stock indexes extended gains on Monday, following the release of
data that showed construction spending rose in March and pending home sales
increased more than anticipated.
For details, see [nN04391087]
The Dow Jones industrial average <.DJI> rose 2 percent to 8,382, while the
S&P 500 <.SPX> gained 2.1 percent to 895, and the Nasdaq <.IXIC> was up 1.8
percent to 1,749.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

1005 ET 04May2009-Pending home sales up 3.2 pct in March: survey
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Pending sales of existing U.S. homes were up unexpectedly in March,
according to the National Association of Realtors Pending Home Sales index,
adding to hopes the housing market has bottomed.
The index was up 3.2 percent to 84.6. The consensus analyst expectation was
for no change.
For details, see [nN04387297]
Following release of the data, the Dow Jones U.S. Home Construction index
<.DJUSHB> rose 6.6 percent to 266.67.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0953 ET 04May2009-GM says has many potential buyers for Saturn unit
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General Motors Corp said on Monday it had a number of potential
buyers for its Saturn brand and retail network, and would look to secure an
agreement with a buyer later this year.
The automaker has retained S.J. Girsky & Co as an adviser to help review
expressions of interest from the potential buyers.
For details, see [nN04385572]
Shares of GM, a Dow component, rose 3.3 percent to $1.87, while Ford was up
2.1 percent to $5.81, and the Dow Jones U.S. Automobile index <.DJUSAU> added 2
percent to 73.
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net

0947 ET 04May2009-Citigroup may seek private funding: Bloomberg
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Shares of Citigroup Inc rose on Monday, advancing 4.7 percent to
$3.11 after Bloomberg reported the bank was looking to raise any additional
capital it might need from private investors rather than giving more control to
the government.
Regulators have told Citi, a Dow component, it will not need another
injection of taxpayer funds, Bloomberg reported, citing a person familiar with
the matter.
Citigroup has already received $45 billion in U.S. government money.
For details, see [nN04263467]
Reuters Messaging: ryan.vlastelica.reuters.com@reuters.net
(Editing by Jeffrey Benkoe)
Keywords: MARKETS STOCKSNEWS

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