Dow Jones Average advanced; Cisco Systems led gains

Source: Dukascopy Bank SA

The Dow Jones Industrial Average Index jumped by 0.65% to end the Thursday's session at 13,250.11. Signs of recovery from the US real estate market coupled with Angela Merkel's comments regarding the ECB actions sent US blue chips stock index higher. However, disappointing manufacturing data from Philadelphia-region created pressure on the US stocks. Seven out of nine industries within the index advanced. On the upside were technology shares led by Cisco Systems. Cisco Systems surged by 9.61% after announcing a 75% dividend hike amid better-than-expected Q2 results.  Industrial and basic materials producers also followed bullish pattern despite weak manufacturing activity numbers in the US. 3M and Caterpillar rose 1.30% and 1.13% while Alcoa and El du Pont de Nemours climbed 0.46% and 0.56%. On the downside were consumer services and health care industries. Among health care companies, Pfizer, Merck and Johnson & Johnson dropped 0.08%, 0.27% and 0.22%, respectively.

 

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