U.K. stocks edge higher, as U.S. earnings season kicks off

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Source: Dukascopy Bank SA
© scanpix/AP
U.K. stocks advanced to their highest since May 2008, as Alcoa Inc. started the new earnings session in U.S. by posting higher-than-expected sales. The FTSE 100 index gained 0.9% to 6,106.57, reaching its highest level in 4 years. All but one sector edged higher. Lloyds Banking group was the best-performing company, as its shares surged 6.2% to 54 pence, followed by Royal Bank of Scotland Group Plc. that added 3.86% to 350.5 pence and Barclays Plc that jumped 3.6% Analysts say that the nation's domestic banks have rising prospects for growth and profitability. Meanwhile, J Sainsbury Plc. slumped 2.27% to 331.3 pence after the company reported the slowest pace of sales growth in eight years, triggering a 0.5% decline in the consumer services sector. Furthermore, Aviva Plc. retreated 1.57% after the company sold off its stake in Delta Lloyd. Telecommunications sector, in turn, was boosted up by Vodafone that added 1.5%, as telecommunications operators in Europe started discussing a common mobile-phone network in European region.
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Wed, 09 Jan 2013 18:10:03 GMT

S&P 500

U.S. shares dropped on Tuesday, as investors were still waiting for the new earnings season to begin, dragging down the S&P 500 index for a second day. The S&P 500 slumped 0.3% to 1,457.15. All sectors in the index edged lower, with telecommunications posting biggest losses in the industry, down 2.69%. Game stop Corp. shares lost 6.3% on lower sales

Wed, 09 Jan 2013 17:37:04 GMT

Chinese banks lead the Hang Seng up

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