Arab Today, arab today world stocks rally on earnings
Last Updated : GMT 21:10:15
Arab Today, arab today
Arab Today, arab today

World stocks rally on earnings

Arab Today, arab today

Arab Today, arab today World stocks rally on earnings

NEW YORK - Arabtoday

Upbeat earnings and outlooks from companies including chipmaker Intel lifted global stocks and fuelled risk appetite yesterday, driving commodities higher and the Australian dollar to a post-float high. Solid corporate earnings in the US and Europe bolstered optimism about the economy and offset concerns of sovereign debt problems on both sides of the Atlantic after Standard & Poor\'s on Monday downwardly revised its outlook for the United States\' prized AAA credit rating.\"It seemed like the earnings season got off to a bit of a shaky start, but now companies are coming through with very strong results, by and large,\" said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York. Steady improvement \"This really shows that corporations are delivering strong results and benefiting from the slow but steady economic improvement.\" World equities measured by MSCI All-Country World Index advanced 2 per cent, extending the previous session\'s 0.5 per cent rise and further recovering from Monday\'s 1.6 per cent loss. Intel posted higher than expected sales and forecast quarterly revenues well above Wall Street\'s estimates, while the world\'s biggest cosmetics group, L\'Oreal, and carmaker PSA Peugeot Citroen also came in with robust figures. Major US stock indexes soared. The Dow Jones industrial average was up 184.90 points, or 1.51 per cent, at 12,452.29. The Standard & Poor\'s 500 Index was up 18.16 points, or 1.38 per cent, at 1,330.78. The Nasdaq Composite Index was up 55.91 points, or 2.04 per cent, at 2,801.08. Japan\'s Nikkei average rose 1.8 per cent, snapping a three-day losing run, and the pan-European FTSEurofirst 300 rose 1.8 per cent. Emerging market stocks climbed 2.4 per cent. were cautious on US equities, keeping short positions on the S&P 500 and the Russell 2000, though they were net long on Japanese equities. An increase in risk sentiment, along with a well-received bond auction from Spain boosted the euro to its highest in 15 months against the US dollar. The euro rose 1.2 per cent versus the dollar to $1.4515 (Dh5.3305), pulling further away from this week\'s low of around $1.4155. Traders said stop-losses were triggered through last week\'s high of $1.4521 and on the break of $1.4530. Yields on ten-year Spanish government bonds fell 3 basis points to 5.47 per cent after Spain saw solid demand for ten- and 13-year bonds at an auction, though speculation of debt restructuring by Greece forced Madrid to pay higher yields than a month ago to attract investors. Driving expectations \"Investor focus is on the earnings season in the US and this is key in driving growth expectations and pushing stock markets higher. This keeps focus away from the Eurozone periphery right now,\" said Manuel Oliveri, currency strategist at UBS in Zurich. Higher-yielding currencies such as the Australian dollar rose 1.5 per cent at $1.0678 after hitting a post-float high of $1.0692. Against a basket of currencies, the US dollar fell 0.7 per cent to 74.370. The soft dollar boosted commodities, with copper up 2 per cent and Brent crude 1.1 per cent to above $122 a barrel, recovering from a 1.7 per cent drop in the previous two sessions.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world stocks rally on earnings Arab Today, arab today world stocks rally on earnings

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday