The U.S. shares ended the session in positive territory by Standard & Poor’s 500 reported a profit first week of the month. Better than expected data on job creation increased optimism that the economy will avoid recession new. S & P 500 rose 1.3 percent to 1105 points. This is the fourth day of growth for the index and its longest winning streak from July Dow Jones Industrial Average rose 1.24 percent to 10,448 points and Nasadaq Composite – by 1.53 percent to 2234 points. Before the start of the session were published data on employment in the private sector in the U.S. showed that in August were up 67 thousand new jobs. The data for July were revised upward to 107 thousand jobs created, which reduced fears that unemployment will prevent of economy recovery. In early trading the shares traded in positive territory but then lost earnings due to higher than expected decline in the services sector in the country in August. But then came the main indexes of profit. Among the winners today were the financial sector and technology companies. Association study of U.S. individual investors showed that optimism about U.S. shares rebounded from a 17-month bottom thanks to the good economic data.
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The U.S. Treasury announced that the state has collected 10.5 billion dollars by selling 2.6 billion shares of Citigroup. Shares were owned by the Government as part of a plan to rescue the financial sector worth $ 700 billion made in 2008. Ministry of Finance added that it is selling out of 1.1 billion shares and that it has completed the second phase of the plan to eradicate the government’s stake in the institution, writes AP. Shares were sold at an average price of around 4.03 dollars, which means that the country has achieved 24% yield compared to the cost of 3.25 dollars cash. U.S. still has 5.1 billion shares of Citigroup, which means that soon there may be selling more shares. During the financial crisis, the Bank received 45 billion dollars from the state which is the largest aid granted a U.S. bank. Of the total 25 billion dollars were converted into shares which were owned by the Government.
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Weak start to the new reporting season has brought a decline in U.S. shares Tuesday. And trade in Europe and overseas that was influenced by disappointing financial results of the aluminum giant Alcoa. Shares of the company fell by over 11%. However, the decrease of the overall market was considerably less, and Dow Jones Industrial Average lost 0.36 percent to only 10 626 points. S & P 500 fell by 0.94 percent to 1136 points and the Nasdaq Composite retreated with 1,3 percent to 2282 points. The debt settlement got many of the investors and brokers and hurt their profits badly. It was required by all investors to get out of debt and keep the loses in minimum size. According to analysts quoted by MarketWatch, announced a major loss of Alcoa is certainly disappointed investors, but even in this situation they are hesitant in their assessments of the economy and expectations for the next stock market movements. Sharing the opinion of many debt consolidation companies now is that perhaps the company still is not as indicative of future trend.
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The Sovereign wealth fund Kuwait announced that it has sold its stake in U.S. bank Citigroup. The price of the transaction is 4.1 billion dollars. This means that the fund has achieved a net profit of 1,1 billion dollars, or nearly 37 per cent for two years, submitted AR. Less than two years the State of Kuwait Investment Fund bought preferred shares of Citigroup for $ 3 billion. These shares have been converted into ordinary, after which they were sold. Currently no comment from both of Citigroup, and by the investment fund. Together with shares of Citigroup and acquired fund shares for $ 2 billion of capital from Merrill Lynch. However, because of problems the bank was acquired by Bank of America. Analysts said the fund soon as possible to sell those shares because their price was raised substantially in recent months. The deal to sell of Citigroup came as a surprise to the markets.
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Today’s session began with increases for the main stock indexes in the United States, which yesterday recorded its first decline for the past six days. Investors ignored news of the decline of the index of consumer confidence in the University of Michigan to 66 points in November from 70.6 in October. The index of the 30 largest stock companies Dow Jones IA increased by 0.8% to 10 280.5 points an hour and a half after the beginning of the session. Broader index S & P 500 advanced by 0.6 percent to 1094.1 points while the index of companies by the exchange Nasdaq – Nasdaq Composite, rose by 0.6 percent to 2160.9 points. Best of all companies in the composition of the Dow Jones IA presented Walt Disney, after the company issued a profit of 895 million dollars in the third quarter. Shares of Walt Disney risen by nearly 5 percent to 30.45 dollars per share and its market capitalization has increased by 34 percent since the beginning of the year. Before the start of trading sessions it became clear that the U.S. trade deficit was a record for the observed past nine years, increased almost 20 percent on a monthly basis in September. The negative balance of trade balance increased to 36.5 billion dollars, mainly because the price of oil and imports from China.
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The European stocks climbed to their highest level in three weeks, supported by good results in the telecom sector and news of mergers in the air carriers. Growth, however, was limited by weaker financial stocks and a decline in shares of energy and extractive companies that followed reductions in the price of oil and metals. Shares of telecommunications companies rose after Britain’s BT Group increased its forecast for the presentation of this year, Telefonica announced that its business in Spain declined more slowly than expectations. Shares in BT Group rose by 3.7 percent, while those of Telefonica rose 1.1 percent. British Airways and Spain’s Iberia jumped 7.5 percent and 11.8 percent respectively, after directors of companies separate meetings discussed the merger of two companies, which will create the third largest carrier, in the world. Pan-European Dow Jones Stoxx 600 added 0,2 to 246.61 points during the session as sometimes rose, then decreased. The indicator grew by 56% from March to now.
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Dow Jones IA and S & P 500 is traded in negative territory after yesterday’s increases, influenced by declines in energy shares after the price of oil fell for a second day. Despite the very good financial results of Microsoft and Amazon, Nasdaq Composite was also down by more than half a percent since the beginning of this week for the last trading session. The oldest stock index Dow Jones IA gave up 1.25 percent to 9956.9 points, despite the remarks made by Federal Reserve Chairman Ben Bernanke that the financial crisis is resolved. The wider S & P 500 retreated by 1.39 percent to 1077.69 points. The index of technology companies by the exchange Nasdaq – Nasdaq Composite, retreated 0.54 percent to 2 153.61 points. Decrease despite the fact the news that pealbata the Amazon has increased by 69% in the third quarter, but that of Microsoft fell less than expected.
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A day after the sale has released its new operating system and Microsoft announced its results for the third quarter, the first for the fiscal year of the company, writes Bloomberg. For the period July-September the company reported profit of 3.57 billion dollars or 40 cents per share analysts’ expectations of positive financial results of 32 cents per share. Over the same period last year, the result is 18 percent lower. Revenue for the period amounted to 12.9 billion dollars or 14 percent less than sewed period of 2008. Operating costs of the company fell by by 6.9%, after being taken first large-scale redundancies in the history of 2-digit, along with the reduction of funds allocated for travel and more. Furthermore, sales of Xbox game console and Windows grew more expected.
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