Market news
28.12.2010, 09:00

Stocks: Monday's review

Most Asian stocks climbed, with the regional benchmark near a 2 1/2-year high, as Japanese shares advanced after news reports of business alliances. Chinese stocks reversed earlier gains after the country’s official interest rates were raised over the weekend.
Elpida Memory Inc., the world’s third-largest maker of computer-memory chips, gained 1.6 percent after Kyodo news reported it is in talks with Taiwan semiconductor companies on a business tie-up. Canon Inc. and Hitachi Ltd. climbed at least 0.7 percent after the Nikkei newspaper said Taiwan’s Hon Hai Precision Industry Co. plans to acquire control of their liquid- crystal display venture. Industrial & Commercial Bank of China Ltd., the world’s No. 1 lender by market value, fell 0.7 percent after gaining as much as 1 percent in the wake of China’s decision to increase interest rates as it battles inflation.
The MSCI Asia Pacific Index gained 0.2 percent to 135.52 as of 7:33 p.m. in Tokyo, with four stocks gaining for every three that fell. The gauge earlier touched an intraday high of 135.72, its topmost level since July 24, 2008.

European stocks retreated after the longest stretch of weekly gains for the benchmark Stoxx Europe 600 Index since April.
Daimler AG and Volkswagen AG tumbled more than 4 percent after China, the world’s largest car market, raised interest rates for the second time in just over two months. Bankinter SA led banks lower, sliding 4.3 percent as the number of mortgages issued for Spanish homes plunged.
The Stoxx 600 slid 0.8 percent to 279.18 at the 5:30 p.m. close in Frankfurt, as almost four companies fell for every one that gained. The gauge has climbed for four straight weeks, extending this year’s advance to 10 percent, as better-than- estimated U.S. economic data overcame concern about Europe’s sovereign-debt crisis. The index last week climbed to the highest since before the bankruptcy of Lehman Brothers Holdings Inc. in September 2008.
National benchmark indexes declined in all 16 western European markets that were open except Iceland. France’s CAC 40 slid 1 percent and Germany’s DAX dropped 1.2 percent. The U.K. and Ireland were closed for a public holiday.

Most U.S. stocks rose, extending the biggest December rally since 1991 for the Standard & Poor’s 500 Index, as American International Group Inc. led financial shares higher after obtaining $4.3 billion in bank credit lines.
AIG surged 11 percent, leading the gains in the S&P 500. Cisco Systems Inc. advanced 2.3 percent after Barron’s reported that the largest maker of networking equipment may initiate a dividend. Halliburton Co. and Baker Hughes Inc. declined at least 1 percent as oil retreated from a two-year high amid concern demand will slow after China raised interest rates to cool its economy.
The S&P 500 rose 0.1 percent to 1,258.30 as of 2:45 p.m. in New York after falling as much as 0.4 percent. The Dow Jones Industrial Average declined 11.2 points, or 0.1 percent, to 11,562.29. The VIX, as the Chicago Board Options Exchange Volatility Index is known, rose 8.3 percent to 17.88 and climbed as much as 11 percent, the biggest intraday jump since Nov. 26.

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location