US shares climb on better than expected manufacturing gauge

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Source: Marketwatch
US stock markets closed higher on Tuesday with Dow Jones index reaching almost 5-year record high as data showed US production activity expanded at faster pace than expected. S&P 500 index gained 0.57% or 7.91 points and finished at 1,405.82, Dow Jones Industrial Average rose 0.50% or 65.69 points to 13,279.32 and Nasdaq Composite added 0.13% or 4.08 points down at 3,050.44. 
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Wed, 02 May 2012 08:11:49 GMT

HSBC final PMI data still shows contraction in China manufacturing

HSBC's April manufacturing PMI climbed to 49.3 up from a initial figure of 49.1 compared to gauge of 48.3 in March. HSBC indicator contrasted with the official Chinese PMI figure which showed April gauge climbed to 53.3 signalling expansion. HSBC analysts predict economic expansion to slump in next three months and then rebound in second half of the year.

Wed, 02 May 2012 07:17:49 GMT

UBS profit fell by 54% in the first quarter

Switzerland's largest bank UBS AG reported its profit for the first three months of 2012 dropped by 54%, damped by loss on its investment bank division and lender's own debt charge. The net profit tumbled CHF 827 million (USD 910 million), UBS reported on Wednesday. Analysts had predicted a slightly smaller drop of  CHF 810.9 million.

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