Dow increases on technology shares

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Source: Dukascopy Bank SA
U.S. blue chips edged higher, as benchmark gauges touched their highest levels in five years after lawmakers voted to delay the country's borrowing limit. The Dow Jones Industrial Average surge 0.5%, or 67.12 points, to 13,779.33. Four out of nine groups advanced with technology shares rallying the most by 3%. The best performing blue chip was International Business Machines that rallied 4.4% after earnings outperformed the estimates. Furthermore, Walt Disney surged 2.3% to $53.95 to pace gains in the consumer services shares that were 0.8% higher. Microsoft Corporation also supported technology sector, as it climbed 1.6% to $27.61. Meanwhile, Hewlett-Packard declined 1.4% to $17.01, followed by Cisco Systems Inc. with its shares tumbling as much as 1.2% to $20.62 and capping further increase in telecommunications group as it gained only 0.03%. Yesterday morning the company announced it intends to purchase Intucell, a self-optimizing software provider in Israel. Caterpillar erased 0.9% to $96.85 and dragged down the industrials 0.1%.
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Thu, 24 Jan 2013 11:31:45 GMT

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