S&P 500 drops 0.8% on European uncertainty

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Source: Dukascopy Bank
S&P 500 index followed European market downward trend on Monday as investors digested news about political uncertainties in the Netherlands and France amid weak global PMI data. US benchmark fell 0.84% or 11.59 points and closed at 1,366.94. Hasbro tumbled 5.2% after reporting a 1st quarter loss on declining sales and costs linked to job cuts. Kellogg plunged 6.1% after the firm lowered its full-year earnings estimate, citing worse-than-expected results in the 1st quarter. SunTrust Banks rallied 2.8% as the lender posted 1st-quarter net income that outperformed analysts' forecasts. 

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Tue, 24 Apr 2012 09:16:26 GMT

Dow main index slips 0.8%, led by Wal-Mart

Dow Jones Industrial Average index fell on Monday driven by weaker overseas manufacturing activity and Wal Mart bribery scandal. Blue chip index shed 0.78% or 102.09 points and finished at 12,927.17. Wal-Mart Stores tumbled 4.7%, the biggest decline of the Dow's index as company was engaged in investigation in a bribery probe in Mexico. Bank of America followed its European

Tue, 24 Apr 2012 07:26:26 GMT

Hollande accuses austerity measures for anti Euro Le Pen's rise

The winner of 1st round French presidential elections Francois Hollande claimed severe austerity measures boosted despair and fuelled popularity of anti Euro party (National Front) led by Marine Le Pen. The head of nationalist, anti-immigrant party Le Pen, gained 6.4 million votes or 17.9%, while Hollande and Sarkozy won 28.6% and 27.2% respectively. 

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