Dow climbed; banks led gains

Source: Dukascopy Bank SA
© Scanpix/AP
Dow climbed, being supported by upbeat US data.  US economy grew faster than initially estimated in the last quarter. Moreover, manufacturing activity as well as real estate market showed positive signals. However, market participants remained cautious as US lawmakers seem to be running out of time to agree on the fiscal policy. The Dow Jones Industrials Average Index jumped 0.45% to end Thursday's session at 13,311.72. All but one sector included in the index moved higher. The top-gainers were lenders and basic material producers, surging 1.26% and 1.01%. Bank of America and JPMorgan Chase & Co advanced 2.95% and 2.30%. Among basic material producers, EI du Pont de Nemours & Co and Alcoa rose 1.07% and 0.69%. At the same time, health care firms capped gains of the US blue chips index. Merck & Co dropped 3.39% after the medical trail indicated that its medicine fails to protect against heart attacks. Caterpillar slumped 1.42% as its global sales grew only by 5% between September and November due to weaker demand in North America.


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Fri, 21 Dec 2012 12:08:18 GMT

Japanese shares tank on US fiscal impasse

Japanese shares tumbled on Friday amid fading hopes that US officials will manage to resolve a budget dispute timely. Moreover, investors were locking in gains before a three-day Christmas weekend. Depressing Japanese equities further, BoJ announced only modest easing on Thursday. However, sharp gains of the US equities as well as upbeat US data limited the downswing. The Nikkei 225

Fri, 21 Dec 2012 12:37:18 GMT

Aussie drops as U.S. Republicans canceled tax vote

The Australian Dollar dropped to the lowest level in more than 2 weeks as U.S. lawmakers cancelled tax vote. The Aussie Dollar weakened 0.3% to $1.0453 from yesterday, after earlier fetching $1.0438, the weakest level since December 4. Australia's Dollar is set for a 1.1% weakly decline, the biggest since 5 trading days ended October 5. 

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