US blue chips closed higher ahead of GDP data

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Source: Dukascopy Bank SA
© Scanpix/AFP
US blue chips halted their slump on Thursday as upbeat US data boosted market sentiment. However, uncertainty over Spain's bailout and mixed quarterly results weighted down on the blue chips. Moreover, investors were cautious ahead of the US quarterly GDP reading due on Friday. The Dow Jones Industrial Average Index added 0.20% to end the session at 13,103.68. Five out of nine sectors included in the index advanced. Consumer goods and oil and gas firms led gains in the Dow Jones index. Procter & Gamble surged 2.92% after posting much better than expected quarterly results despite stronger US Dollar. Among oil and gas companies, Chevron and Exxon Mobile climbed 1.14% and 0.61% despite weak crude oil prices. On the downside, financials and industrials retreated by 0.54% and 0.45%. Bank of America dropped 0.75% while Boeing plummeted 1.61%.


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Fri, 26 Oct 2012 16:39:52 GMT

Japanese equities tumbled on weak quarterly results

Japanese equities dropped from four-week high on Friday on concerns that companies will continue to disappoint investors reporting dismal quarterly results. An increased cautiousness ahead of the US GDP data release also pushed the Japanese stocks lower. The Nikkei 225 Index shed 1.45% to end the week at 8,933.06. Only one in ten sectors included in the index eased up.

Fri, 26 Oct 2012 15:55:48 GMT

US equities moved higher on Thursday

US stocks rebounded after sharp losses on Thursday, supported by positive data from the US. Orders of durable goods in the US rose by 9.9% while jobless claims dropped last week. At the same time, mixed quarterly reports continued to weight down on US companies. The S&P 500 Index added 0.30% to close at 1,412.97. Six out of ten sectors

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