US shares soared on upbeat retail sales data

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Source: Dukascopy Bank SA
© Scanpix/AFP
US shares surged on Monday on upbeat US retail sales data. US retail sales soared 1.2% in September while experts predicted the retail sales to rise by 0.8% last month. Adding to the positive mood of the US equities, China's inflation rate decelerated to 1.9% last month, suggesting that the POBC has a room for monetary easing. The S&P 500 Index jumped 0.81% to close at 1,440.13. All but one sector within the index surged. The top-gainers were health care companies and financials. Baxter International and Boston Scientific advanced 0.4% and 1.08%. Abbott Laboratories added 4% after reporting that its experimental drug cured about 99% of patients with hepatitis C. Among lenders, BB&T, Keycorp and People's United Financial climbed 0.15%, 0.24% and 0.33%. Meanwhile, Wells Fargo & Company lost 1.02% as analysts warned that the bank may face difficulties in earning on interest payments for loans.

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Tue, 16 Oct 2012 15:45:21 GMT

US blue chips surged on Monday

The Dow Jones Industrial Average Index gained 0.72% to close at 13,424.23. Market sentiment was boosted by encouraging retail sales data and mounting hopes that China will embark on easing measures. However, on-going uncertainty whether Spain will apply for a bailout continued to weight down on the US blue chips. Eight out of nine sectors included in the jumped. The

Tue, 16 Oct 2012 15:23:24 GMT

Cable higher but gains capped

On Tuesday, the British Pound advanced versus the U.S. counterpart on speculation about a 'soft' Spanish bailout, but gains seemed to be capped by concerns over further monetary stimulus by the Bank of England. GBP/USD was traded at 1.6123, which was a 0.33% gain for the European afternoon trading session. Earlier, it hit a session high if 1.6132.

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