U.S.shares edge higher on German economic outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© scanpix/AFP
U.S. shares jumped, erasing earlier losses since November 6 in the Dow Jones Industrial Average, after German investor confidence improved unexpectedly in December raising hopes that the Europe's largest economy will recover next year. Meanwhile, policy makers in Washington began a meeting to decide whether to replace the mortgage bond-purchases of $40 billion a month with Treasury purchases as soon as the Operation Twist program expires.

The Dow Jones index advanced 0.6% to 13,248.44 reaching its highest level since end October. All but one sector within the index edged higher. Basic Materials, Communications and Health care shares improved the most by adding 1.12%, 1.07% and 1.03%, respectively, whereas Consumer services sector slightly decreased by 0.37%. Among the best performing companies was Intel Corporation, 3M Co and Merck & Co by surging 2.94%, 1.97% and 1.60%, subsequently. Intel shares advanced despite bearish reports. Miller Tabak & Co published their view on Intel stocks saying that the company is suffering from negative growth in the personal computer market and overstock. Meanwhile, Wal-Mart Stores declined the most by 1.75%, as India's government announced an inquiry of Wal-Mart's lobbying activities. Only three other companies within the index eased. Bank of America lost 0.57%, Home Depot erased 0.24% and Cisco systems decreased 0.05%.

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Wed, 12 Dec 2012 17:27:35 GMT

DAX

German stocks rallied to their highest level in five years on rising optimism the U.S. lawmakers in Washington will reach a budget deal and Fed will introduce measures to boost up the economic growth. The DAX index added 0.25%, or 18.50 points to 7,608.86, after earlier peaking at 7,612.62, highest level since January 2008. The index has gained 28% since

Wed, 12 Dec 2012 16:29:54 GMT

Japan machinery orders climb first time in 3 months

Core machinery orders in Japan rose for the first time in three-month period, though less-than-expected, climbing to a seasonally adjusted 2.6% in October to 704.4 billion yen, the Cabinet Office report showed on Wednesday. Year-on-year change of core machine orders recorded a 1.2% increase compared to projections of a 5.0% decline following a 7.8% contraction in September and a 6.1% drop in

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