Stocks under pressure but still on track to post yearly gains

Date: Mon, 31 Dec 2007 17:01:22 (GMT)
Stocks under pressure but still on track to post yearly gains

SAN FRANCISCO
U.S. stocks fell Monday on the final trading day of 2007, with the
market finding only short-term comfort from a report that existing home
sales modestly improved in November.

Economic Report: Existing-home sales rise modestly in November

Offering a rare hint of stability, sales of U.S. existing homes rose
0.4% in November to a seasonally adjusted annualized rate of 5 million,
the National Association of Realtors reported Monday.

Currencies: Dollar mostly higher in thin trading on last day of 2007

The dollar slipped against the yen but managed gains against most major
counterparts Monday, in extremely thin trading conditions on the last
day of the year.

Pakistan stocks slump as market reopens after Bhutto killing

Pakistani stocks slumped as trading resumed in Karachi following a
three-day mourning period for former Prime Minister Benazir Bhutto, who
was assassinated on Thursday.

Delta Petroleum climbs as Kerkorian takes 35% stake

NEW YORK
Shares of Delta Petroleum Corp. jumped 24% at the open Monday after the
oil and gas exploration and development company said it would sell a 35%
stake to Kirk Kerkorian's Tracinda Corp., a move that will help Delta
fund its development and drilling activities in Colorado and Utah.