S&P 500 recovers on Wednesday

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Source: Dukascopy Bank
S&P 500 index rebounded from sharp losses on Tuesday and moved higher on Wednesday as Alcoa posted an unexpected profit. American index gained 0.74% or 10.12 points and finished at 1,368.71. Genworth Financial rallied 3.2% after BTIG LLC upgraded its stock to buy. Owens-Illinois jumped 6.9% after the glass- bottle producer predicted 1st-quarter earnings will advance more than annual 35% citing higher prices and lower costs. Apple slipped 0.4% on e-Book pricing scandal. 

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Thu, 12 Apr 2012 13:28:23 GMT

Dow Jones index adds 0.7% supported by Alcoa

Dow Jones Industrial Average index climbed higher on Wednesday lifted by Alcoa Inc. Blue chip index added 0.70% or 89.46 points and closed at 12,805.3. Alcoa, the biggest US aluminium manufacturer posted an unpredicted profit for the 1st quarter as aluminium orders surged. Instead of expected loss of USD 0.04 a share, Alcoa posted a gain equal USD 0.09 a

Thu, 12 Apr 2012 12:50:50 GMT

EIA: Iranian oil output to tumble by 500,000 barrels per day this year

Iranian oil output is likely to decline by 500,000 barrels per day by the end of this year and by 200,000 next year, reported the EIA. The lack of proper investment in the sector as well as sanctions imposed by the EU and US both are expected to accelerate the fall in the Iranian oil production. JP Morgan projects the

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