S&P 500 index retreats after Tuesday's rally

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Source: Dukascopy Bank
After Tuesday's rally, S&P 500 index finished slightly lower on Wednesday as financial shares fluctuated between gains and losses on Fed's stress test results. US index slipped 0.12% or 1.67 points and closed at 1,394.28. Cliffs Natural resources gained 7% after raising its dividend. Zions Bancorporation rallied 10.5% on successful test results while insurer MetLife, who failed the test, plunged 5.8%. Citigroup fell 3.4% on regulators announcement it cannot afford to increase its dividend. Apple jumped 3.8% on the release of its new iPAD. 

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Thu, 15 Mar 2012 13:45:15 GMT

Dow Jones Industrial Average extends gains led by financial shares

Dow Jones Industrial Average index climbed slightly higher on Wednesday, posting gains for a sixth straight session. Blue chip index advanced 0.13% or 16.42 points and closed at 13,194.10 with financial sector gaining most. American Express jumped 3.5% after the company passed stress test and announced an increase in dividend and a stock buy back worth USD 5 billion. Heavyweight

Thu, 15 Mar 2012 16:22:45 GMT

Boeing rejected 500 million billion claim of Air India

Boeing has rejected the claim of India that the company has agreed to compensate aircraft delays for Air India. The Indian officials earlier reported that Boeing would pay 500 million US Dollars as compensation for three-year delay in delivery of planes. However, Boeing announced that it has not agreed to this deal.

Thu, 15 Mar 2012 14:21:29 GMT

European car sales fell in February

European vehicle sales plunged in February driven by Peugeot Citroen, Fiat and Renault as region's consumers suspended large scale purchases amid economic uncertainty. February registrations dropped 9.2% on annual basis to 923,381 million cars, the fifth straight monthly drop. Deliveries in France tumbled 20% whereas sales in Italy plummeted 19%. BMW and Toyota forecast a 5% decline in Europe region

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