Dow Jones Industrial Average

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
U.S. blue chips advanced on Wednesday on rising optimism about resolving the "fiscal cliff". In addition, latest economic data point on moderate growth in the U.S. economy, yet, the market is highly dependent on the outcome of the budget talks. Shares increased also because Republicans responded to bipartisan call to overcome disagreements between the President and House Speaker John Boehner over raising taxes for the wealthiest Americans. The Dow Jones Industrial Average surged 0.6%, or 82.71 points, to 13,034.49. Only two sectors out of ten within the index slightly decreased, while the others rallied with Financials taking the leader position with a 3% gain, followed by Oil and Gas with almost 1% increase. Stocks of Bank of America rose the most by 5.55%, while Travelers Cos and Caterpillar gained 4.92% and 2.25%, respectively. The top performer Bank of America rallied to $10.46, whereas Travelers Cos inched higher to $74. The latter company plans to resume paybacks, as Hurricane Sandy will cause costs to it of around $650 million after tax and reinsurance. Meanwhile, Intel Corp showed small decline of 0.75% and Wal-Mart Stores dropped 0.65%.


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Thu, 06 Dec 2012 17:10:43 GMT

Nikkei 225

Japanese equities gained on hopes U.S. lawmakers will agree on budget for the next year and positive economic outlook for the nation's economy. Japanese Nikkei 225 Stock Average advanced 0.8% after the Yen depreciated to almost its lowest level in seven months. The investors' risk appetite was boosted up on speculation the Central Bank would further ease the currency in

Thu, 06 Dec 2012 17:00:40 GMT

German equities reach the highest level since May 2011

German shares advanced to their highest level in more than eighteen months amid positive economic data on Germany's factory orders and speculation the Republicans will agree on raising taxes in the next year's budget plan. Europe's largest economy's factory orders jumped 3.9%, instead of the forecast 0.9%, on strengthening foreign demand. The DAX Index rallied 0.9% to 7,524.23 prior to

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