U.S. shares keep rallying on optimism about fourh-quarter corporate profits

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Source: Dukascopy Bank SA
U.S. stocks extended their gains for a second consecutive week on rising optimism  about better-than-expected Chinese exports and corporate profits of the fourth quarter. The S&P 500 index rallied to 1,472.12, its highest in five years. However, only five out of ten groups in the gauge edged higher. Best Buy Co. added 16.4% to $3.52, the biggest gain in the benchmark index, pacing gains in the consumer services sector that was 0.34% up. The company surged on stabilizing sales in the U.S. after dropping in the previous quarters. Cognizant Tech Solutions, in turn, climbed 4.6% after Goldman Sachs upgraded the company to neutral from sell and increased the price target to $72.00 from $60.00. Furthermore, Monster Beverage Corporation rose 4.4%, as Zacks upgraded its stock rating from underperform to neutral. Alongside to that, Perigo Co. lost 5.8% after Goldman Sachs suggested to investors to sell the stock on Friday, adding to losses in the health care group that was 0.2% down. Peabody Energy Corporation erased 5.4%, capping further increase in the oil and gas sector.

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Mon, 14 Jan 2013 12:33:03 GMT

Spain's homes sales decrease by 6.1% in November

Residential property transactions in Spain decreased by 6.1% on annually calculated basis to 25,655 sales in November, as the statistical office INE announced on Monday. Sales, including free homes, were lower by 3.5% compared to the last year, while the protected house sales dipped by 24%. Overall, the total number of sales of all types of property declined by 5%

Mon, 14 Jan 2013 12:09:04 GMT

Treasuries gain on speculation that consumer prices will remain unchanged

The U.S. 10-year yields benchmark slipped by 2 basis points, or 0.02 percentage point, to 1.85% in early London trading session on Monday. Treasuries increase for a second day, as market waits a report from the U.S. government on consumer prices changes in December. According to economists, the index should remain unchanged, meaning stagnated prices in December.

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