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outlet metzingen ?Tanzania building collapse death toll rises to 30 The death toll from the collapse last week of a building in Tanzanias largest city rose to 30 early today, according to a government agency statement. Rescue workers have given up hope of finding more survivors after the 16storey building in

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Published: Sunday 28 July, 2013

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Bank of America jumped 4.7 percent, leading a gauge of financial shares to the biggest gain among the 10 industries in the Standard Poors 500stock index. Sprint Nextel climbed 4.9 percent after people with knowledge of the matter told Bloomberg News that Deutsche Telekom held talks to sell its TMobile USA unit to the company. PulteGroup climbed 8.4 percent shopping online shoes after the home builder reported good traffic and signup rates.



The S 500 closed at 1321.82, up 0.9 percent. The benchmark gauge had fallen 1.6 percent over the previous two trading days. The Dow Jones industrial average advanced 124.35 points, or 1 percent, to 12,214.38. Crude oil declined 0.4 percent, to $105.02 a barrel, in New York.



Were in an economic recovery, and the stock market is reflecting that, said John Carey, a Bostonbased money manager at Pioneer Investments, which oversees about $250 billion. Companies are flush with cash, and theres been a pickup in mergersandacquisitions activity, which is an indication of corporate confidence. In addition to that, crude oil prices are down, and people can relax a bit about energy costs not going through the roof.



The S 500 on Monday erased last weeks gain as oil prices reached a 29month high. The gauge rallied 4.2 percent this year through Monday as companies reported earnings that topped analysts estimates for the eighthstraight quarter and the Federal Reserve kept interest rates at a record low.



Crude oil fell as members of the Organization of the Petroleum Exporting Countries discussed whether to hold a meeting about output and Libyan rebels prepared an offensive to regain a town. Kuwaits oil minister said OPEC members are considering whether to convene an urgent meeting.



Nouriel Roubini, an economist who predicted the global financial crisis, said an increase in oil prices to $140 a barrel will cause some advanced economies to slide back into recession. Underlying how fragile the recovery is, Roubini said the European Central Bank might be making a mistake by raising int shopping online shoes erest rates too soon when debtridden countries on the euro regions periphery struggle to restore exports competitiveness.



Stockindex futures erased gains before the open of exchanges as European Central Bank Governing Council member Axel Weber said he does not want to correct market expectations for as many as three quarterpoint increases in the banks benchmark interest rate this year.



One of the biggest fears is that the developed nations have gotten themselves into a zerorate trap, said Peter Sorrentino, who helps oversee $14.4 billion at Huntington Asse shopping online shoes t Advisors in Cincinnati. So, if they start to raise rates, the market will begin to move beyond their control. shopping online shoes

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