Nasdaq Composite slumps in line with its peers

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Source: Dukascopy
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Nasdaq Composite index followed other leading US market indexes and declined 2.4% or 61.20 points ending at 2,460.08 amid fears that poor German bond auction could signal deepening crisis. Gilead Sciences was one of few gainers that added 2.27% on announcement of acquisition of biotechnology company Pharmasset. Major negative contribution from the index came from Sirius Xm Radio Inc. and Micron Technology that each gave up 6.95% and 6.39% respectively.

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Thu, 24 Nov 2011 14:42:10 GMT

German DAX jumps on German confidence

On Thursday German DAX 30 index managed to interrupt 8-day losses and edged up 1.5% to 5,543.91 as Ifo reported higher-than-expected business confidence index. German financial institutions recovered immediately: stocks of Commerzbank AG added 7.6%, Allianz SE gained 2.5% while Deutsche Bank AG advanced 2.9%. Downgrade of Portugal has offset part of gains but did not break the upward trend.

Thu, 24 Nov 2011 13:53:28 GMT

S&P 500 extends losses

Standard & Poor's 500 Index lost 2.2% or 26.25 and closed at 1,161.79. All 10 industries in index experienced decline, led by banks, material makers and energy companies. Index declined for sixth consecutive day in a row which is the longest decline since August. Bank of America declined 4.28%, Janus Capital Group Inc. gave up 4.41%. Cabot Oil & Gas Corp. and Tesoro Petroleum Corp.

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