S&P 500 flat on investor concerns

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Source: Dukascopy
S&P 500 Index traded almost flat on Monday, as investors remained cautious about the enduring Greek debt write down talks. US benchmark index closed 0.05% or 0.62 points higher at 1,316, the highest reading since July 26.  Energy and technology stocks provided major contribution to the index, as oil prices rallied, after EU imposed embargo on Iran crude. Southwestern Energy jumped 10.3%, while Cabot Oil & Gas surged 6.5%. Natural gas producer Chesapeake Energy rocketed 6.3%, after it announced plans to cut production. 

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Tue, 24 Jan 2012 14:36:44 GMT

Euro Zone PMI signals expansion for the first time in four months

Primary reading indicated that the Markit Eurozone PMI Composite Output Index rose to 50.4 in January from 48.3 in the preceding month. Manufacturing PMI expanded to 48.7 while analysts predicted the indicator to rise to 47.8. Services sector posted the largest gains, advancing to 50.5 in January from 48.8 in the preceding month.

Tue, 24 Jan 2012 12:20:41 GMT

European stocks rally on Monday

European markets closed higher on Monday as Greeks and private creditors continued to discuss debt swap and investors were hoping that both parties will reach an agreement about debt write down at around 70%. Stoxx 600 index added 0.5% to 257.01, Greek ASE composite rocketed 5.1% to 744.26 and French CAC 40 index gained 0.5%, finishing at 3,388.42. Meanwhile the

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