Another great night on the NYSE with the S&P500 moving forward 1.2 percent to 986.75 at 4pm. Movers and shakers consisted of Motorola rallied 9.4 percent, the most since November, as job cuts helped the biggest U.S. mobile-phone maker report a smaller loss than analysts projected. Mastercard added 3 percent on earnings that topped the average forecast by 11 percent. GE advanced 6.9 percent for its steepest gain since April on speculation new banking rules will let the company keep its finance unit.
Over in Europe we saw much the same with U.K. stocks rising to the highest since January after earnings at BT Group Plc and Rolls-Royce Group Plc topped estimates and a Nationwide Building Society report showed house prices in Britain increased for a third month in July.
BT soared 13 percent after the largest U.K. fixed-line phone company reported net income in the three months through June 30 that beat analysts’ forecasts. Rolls-Royce gained 8.7 percent. BHP Billiton Ltd. and Rio Tinto Group led a rally in mining companies as metals prices advanced in London.
The benchmark FTSE 100 Index added 84.08, or 1.9 percent, to 4,631.61, a 13th day of gains in the last 14 trading days.
The Oracle
Subscribe to:
Post Comments (Atom)
Should be interesting here with the ASX200 climbing well for the week. I think we might get to see a little more profit taking here today as we close off the week. we are still not out of the quagmire and traders don't like carrying positions into the weekends.
ReplyDeleteQuite true 'monster, well worth keeping the old jaundiced eye open today. As the old saying goes a bird in the hand..... and there is nothing wrong with taking a little money off of the table.
ReplyDelete