Dow erases gains on concerns about European banks

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Source: Dukascopy Bank SA
Most U.S. blue chips fell on Monday amid concerns that the banking crisis in Cyprus will induce losses on deposits held in other banks of Europe. Shares dropped after Jeroen Dijsselbloem told press that when struggling banks need rescuing, the Eurozone policy makers will turn to the shareholders, bondholders and uninsured depositors of banks to fund their recapitalization. The Dow Jones Industrial Average retreated 0.4%, or 64.28 points, to 14,447.75. All but one sector inched lower. Bank of America led losses in financial shares, as it tumbled 1.3% to $12.40. 3M Co was among other top losers, as it erased 1.2% to drag down industrial shares that were 0.8% lower. Wal-Mart Stores rallied the most in the gauge, as it closed at $74.85, 0.8% up, even though the company now struggles with restocking challenge and declining sales due to insufficient number of store workers.

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Tue, 26 Mar 2013 14:41:10 GMT

Copper rises before U.S. data on Tuesday

Copper traded in London increased on Tuesday on speculations that U.S. manufacturing sector is improving before a report showed that the nation's durable goods orders rose by 3.9% in February recording its highest level in five months. Copper for March delivery advanced 0.2% to $7,635 a metric ton earlier on Tuesday London session.

Tue, 26 Mar 2013 13:31:12 GMT

Emerging-market equities gain for second day on Tuesday

Emerging-market shares advanced for the second straight day on Tuesday as a respond to an advice of brokerages to buy stocks in Thailand and South Korea amid concerns that Chinese economic performance might be curbed by the government efforts to cool prices of properties. The MSCI Emerging Markets Index gained 0.4% to 1,025.98 at 4:27 Hong Kong time.

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