US stocks ended lower on Friday

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Source: Dukascopy Bank SA
US equities closed lower on Friday after the Fed Chairman speaking at G20 meeting stated that US economy is recovering. These comments were perceived as hint that the Fed may stop its bond-buying program, creating a downward pressure on risky assets. The S&P 500 Index lost 0.11% to close at 1,519.79. A half of the industries included in the index posted gains. The top-performers were consumer goods and telecommunications industries. Altria Group and Brown Forman Inc climbed 0.79% and 1.41%, while Centurylink and Crown Castle International added 2.32% and 1.86%. Monster Beverage surged 7.11%, the third biggest gain the S&P 500, on speculation about potential takeover by Coca-Cola Co. At the same time, energy stocks dragged the US shares index lower. Apache dipped 4.33% after announcing lower than expected production targets. Other oil and gas firms also gave back their Thursday's gains. Peabody Energy Corp., Range Resources Corp. and Halliburton Co. sagged 2.44%, 1.91% and 1.43%, respectively.
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Mon, 18 Feb 2013 13:55:03 GMT

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