US equities rallied on Fed stimulus

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Source: Dukascopy Bank SA
US stocks surged on Thursday after the Fed announced a fresh round of QE in form of buying mortgage-backed securities. The Fed will inject USD40 billion in the economy each month until situation in the labour market improves significantly. Meanwhile, market participants also awaited US CPI data and retail sales figures due on Friday. The S&P 500 Index soared 1.63% to close at the highest level since December 2007 of 1,459.99. All sectors within the index posted sharp gains. The top-performers were basic materials and financials. Cliffs Natural Resources, Newmont Mining and Vulcan Materials skyrocketed 6.30%, 5.50% and 1.08%, respectively. Among financials, BB&T, Comerica and KeyCorp advanced by 2.31%, 2.89% and 0.89%, respectively. Pall Corp. jumped 7.96% after posting a net profit that beat the Wall Street forecasts. Apple extended previous gains after the company presented its new iPhone on Wednesday.

 

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Fri, 14 Sep 2012 12:14:52 GMT

European stocks climb on Fed decision

European stocks surged on Friday, as traders elevated the U.S. Fed decision for the third quantitative easing round to boost economic growth. The Stoxx Europe 600 Index rallied 1.4% to 276.20, poised for its strongest close since June 2011. The FTSE 100 Index rose1.6% to 5,910.97 amid higher oil prices. The CAC 40 Index climbed 2%, while the DAX 30

Fri, 14 Sep 2012 12:25:53 GMT

HSBC analysts: China stimulus is sufficient for a steady growth

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