Dow sank ahead of US presidential elections

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Source: Dukascopy Bank SA
© Scanpix/AFP
Dow plunged in a volatile trading session on Friday as investors fled to save-haven assets ahead of the US presidential elections due next week. However, upbeat job reports from the national economy coupled with better-than-expected PMI releases from the eurozone limited the upswing of the US blue chips. The Dow Jones Industrial Average Index sank 1.05% to end the week at 13,093.16. All sectors included in the index plunged. The top-losers were oil and gas firms as well as basic materials. Exxon Mobil and Chevron dropped 1.45% and 2.87% amid weak energy prices. Alcoa and El du Pont de Nemours shed 1.03% and 1.89% on soft commodities' prices despite better-than-expected PMI reports from the single currency union. Meanwhile, lenders were mixed, with Bank of America adding 1.13% and American Express losing 0.25%. 


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Mon, 05 Nov 2012 15:54:16 GMT

Japanese stocks slid; defensive shares led losses

Japanese equities retreated on Monday amid mounting uncertainty over presidential elections in the US. However, recent strong data from the US labour market coupled with slower Yen appreciation were supportive for Japan's blue chips. The Nikkei 225 Index moved lower by 0.48% to close at 9,007.44. Oil and gas firms as well as consumer goods were the only two sectors

Mon, 05 Nov 2012 15:32:15 GMT

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