U.S. shares finished lower on weak data

Source: Dukascopy Bank SA
U.S. stocks closed in the negative area on Friday on disappointing data releases from the domestic economy. U.S. retail sales unexpectedly fell 0.4% in March, while experts predicted a 0.1% increase. Moreover, preliminary University of Michigan Consumer Sentiment Index plunged to a nine-month low this month. The S&P 500 Index lost 0.28% to close at 1,588.85. A half of industries included in the index posted gains. The top-performers were defensive sectors, with utilities and telecommunications both rising 0.27%. Among the top-performers was NetApp Inc., surging 5.93%, the biggest increase in S&P. Bed Bath & Beyond Inc extended its gains as the retailer predicted an increase in Q1 sales. Dragging the index lower, basic materials and oil and gas industries tumbled 1.46% and 1.34%. Newmont Mining Corp. dropped 5.90% after Deutsche Bank cut the gold miner's share price target $40 from $47. On the downside was also Harris Corp., sagging 5.37% as the firm said late on Thursday its earnings are likely to miss forecast.
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Mon, 15 Apr 2013 12:23:03 GMT

Dow closed flat on Friday; defensive stocks lent support

U.S. blue chips traded flat on Friday amid weaker-than-expected U.S. data releases. Moreover, caution ahead of key China's figures due on Monday added pressure on the U.S. stocks. The Dow Jones Industrial Average Index was unchanged, hovering near 14,865.06. Only four out of nine industries within the index advanced. The top-performers were consumer services and telecommunications, climbing 1.31% and 0.45%.

Mon, 15 Apr 2013 15:36:04 GMT

German bunds fall after Dublin's meeting

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