S&P 500 rallies as European leaders prepare a plan

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Source: Dukascopy
On Monday S&P 500 Index jumped 2.92% or 33.88 points and closed at 1,192.55. All 10 index's industries rose, led by natural resource and energy companies. The index experienced the best trading since October 27. United States Steel Corp. gained 8.49%, while Alpha Natural Resources advanced 7.87%. Financial stocks also contributed positively to index as Genworth Financial Inc. added almost 13%, after Citigroup Inc. raised insurer's rating. Stocks of Citigroup Inc. climbed 6% despite court's decision to reject $285 m settlement. Nevertheless, analysts warn that poor Italian bond auction can take index down in few trading sessions.

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Tue, 29 Nov 2011 12:49:47 GMT

Dow Jones climbs ahead of European FMs meeting

The Dow Jones Industrial Average index followed its major peers and increased sharply gaining 2.6% or 291.23 ending Monday trade session at 11,523.01. All 30 of Dow Jones constituents contributed positively to index led by aluminium producer Alcoa Inc. and Caterpillar each adding 5.7% and 5.49% respectively. Shares of Hewlett-Packard Company and Chevron Corp. also rebounded correspondingly by 4.49% and 3.77%. Dow Jones Index had the

Tue, 29 Nov 2011 12:35:28 GMT

Swiss banks may lose $51bn in UK, German assets

Swiss asset managers are likely to lose about 47 bn Swiss francs ($51.1 bn) as their clients are going to make large withdrawals ahead of tax arrangements with UK and Germany presumed to be implemented in 2013. Cash outflows are expected to surge during forthcoming 18 months. Bankers estimate potential capital outflows to be around 25%-30% of non-declared securities. Switzerland this year signed accord with UK

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