US Markets Gain For Third Week In A Row (21-Jan-2012)
The US markets closed mixed on Friday, though extending gains into a third week as higher-than-estimated results at companies including International Business Machines Corporation and Microsoft Corporation drove technology shares higher, while on the other hand Google Incorporation owner of the most-popular Internet search engine, fell as revenue and profit missed estimates. Investors were also eyeing the outcome of stalled talks between Greece and its international lenders. Besides, a benchmark gauge of US company credit risk rose from almost a five-month low. The Markit CDX North America Investment Grade Index of credit-default swaps, which investors use to hedge against losses on corporate debt or to speculate on creditworthiness, increased by 0.7 basis point to a mid-price of 109 basis points, according to Markit Group.
In Europe, the markets were largely lower after closing at a five-month high in the previous session. Greek officials and private creditors entered a third day of negotiations on a debt swap deal that's crucial to lowering the country's borrowings and freeing up a second round of international aid. The deal is a key condition for Greece to receive additional bailout funds from the European Union and International Monetary Fund. Officials from the IMF, EU and European Central bank, known as the troika, are also in Athens reviewing the nation's finances. Also, Moody's expects to place the ratings of a number of rated banks under review for downgrade during first-quarter 2012, in order to assess the effect of several trends on bank credit profiles.
The Dow Jones Industrial Average closed higher by 96.50 points, or 0.76 percent, at 12,720.50. The S&P 500 was up by 0.88 points, or 0.07 percent, at 1,315.38, while the Nasdaq closed down 1.63 points, or 0.06 percent, at 2,786.70.
Indian ADRs closed mixed on Friday, ICICI Bank was up 1.26%, Infosys Technologies was up 0.59% and Wipro was up 0.47%. On the flip side, Dr. Reddy's Lab was down 0.99% and HDFC Bank was down 0.42%.
Top News Today
 Aditya Birla Group Company - Idea Cellular has slashed 3G tariffs by up to 70%. As per the revision, Idea prepaid and postpaid users have to pay 3 paise per 10 KB of data against earlier levels of 10 paise
 National Thermal Power Corporation (NTPC) will be signing the fuel supply agreements' (FSA) with Coal India for 4,300 megawatts on 2009 terms. In these FSAs companies have change trigger level, which has
 After cellular market leader Bharti Airtel launched its 4G services, now Reliance Industries is reportedly gearing up to launch the services soon and has accordingly partnered with Himachal Futuristic
|
International Stock News
 US markets made a mixed closing on Tuesday, just a day after a buoyant rally, as concerns about Greece's potential exit from the eurozone resurfaced in the final hour. Though, the markets remained in jubilant
 US markets got a good bounce back on Monday with all major indices gaining more than 1%, it was one of the best session of the month. There was some M&A activity along with report that Chinese government
 US markets declined further on Friday, making it the worst week for the markets in 2012, as the most awaited Facebook (FB) IPO was only able to muster a slight gain in its public debut, while the eurozone
|
|
Recent International Global Stock Market News News
|
|