Top Movers

US close: Stocks rise on reports of action by central banks

Date: Thursday 14 Jun 2012

US close: Stocks rise on reports of action by central banks

US shares rose strongly on Thursday, pushed higher by reports that central banks were possibly planning coordinated action if required after this coming weekend's Greek elections.

With votes scheduled in Greece, Egypt and France this week-end, the banks are ready in the event that liquidity is required to ensure that there is sufficient cash is flowing through the financial system, G20 officials told the Reuters news agency.

According to the agency, a "senior G20 aide familiar with discussions among international financial diplomats" said: "The central banks are preparing for coordinated action to provide liquidity." His statement was reportedly confirmed by "several other G20 officials".

Meanwhile, US initial jobless claims rose by 6,000 to 386,000 last week, topping the 375,000 expected by the consensus of analysts.

The previous week's reading was revised higher to 380,000 from 377,000, while the four-week moving average rose by 3,500 to 382,000 from the previous week's revised reading of 378,500. The insured unemployment rate remained steady at 2.6%.

In company news, Seattle-based drug maker Dendreon added to Wednesday's sharp gains, following a report in the Seattle Times which said the company had found a partner to help market its Provenge cancer therapy in Europe. There has also been speculation that the firm will be the subject of an acquisition in the near future.

Family Dollar Stores was also gaining after an MKM analyst upped the firm's financial targets and earnings per share estimates.

International Game Technology was another strong riser after revealing that it is buying back $1bn-worth of its common shares, which includes a $400m purchase from Goldman Sachs.

Heading in the opposite direction, AOL declined after the group prevailed in a proxy battle with activist investor Starboard Value, and re-elected each of the eight current board members.

Credit Suisse fell after the Swiss National Bank called on the banking giant to boost capital in preparation for a potential spreading of the euro-area crisis.

Nokia was another faller, hit by news the mobile phone group is planning to slash 10,000 jobs as part of widespread changes to its business.

In other markets, the July futures contract for West Texas crude oil rose 1.56%, or $1.29, to $83.91 per barrel on the New York Mercantile Exchange.

US 10-year bonds fell 7/16 of a dollar, pushing the yield up to 1.64% from 1.59% the day before.

S&P 500 - Risers
International Game Technology (IGT) $15.02 +13.62%
Supervalu Inc. (SVU) $4.65 +8.90%
Cabot Oil & Gas Corp. (COG) $34.99 +8.46%
Edwards Lifesciences Corp. (EW) $96.90 +7.02%
Kroger Co. (KR) $22.52 +5.78%
PulteGroup Inc. (PHM) $8.85 +5.17%
Cablevision Systems Corp. (CVC) $12.18 +5.14%
Sprint Nxtel Corp. (S) $3.08 +4.76%
Mead Johnson Nutrition Co. (MJN) $85.83 +4.45%
Southwestern Energy Co. (SWN) $26.87 +4.07%

S&P 500 - Fallers
LSI Logic Corp. (LSI) $6.19 -4.18%
QUALCOMM Inc. (QCOM) $56.75 -3.72%
First Solar Inc. (FSLR) $13.36 -3.47%
Nike Inc. (NKE) $99.88 -2.29%
GameStop Corp. (GME) $17.70 -2.26%
R.R. Donnelley & Sons Co. (RRD) $10.48 -2.24%
Metropcs Communications Inc. (PCS) $5.77 -2.20%

Dow Jones I.A - Risers
Home Depot Inc. (HD) $52.23 +2.47%
Travelers Company Inc. (TRV) $63.16 +2.45%
Exxon Mobil Corp. (XOM) $82.33 +2.11%
AT&T Inc. (T) $35.70 +2.06%
Walt Disney Co. (DIS) $47.17 +2.03%
Bank of America Corp. (BAC) $7.65 +2.00%

Dow Jones I.A - Fallers
Boeing Co. (BA) $71.83 -0.32%
American Express Co. (AXP) $55.03 -0.14%

Nasdaq 100 - Risers
Celgene Corp. (CELG) $65.84 +3.54%
Biogen Idec Inc. (BIIB) $138.60 +3.26%
Logitech International S.A. (LOGI) $10.08 +3.07%
Costco Wholesale Corp. (COST) $89.79 +2.70%

Nasdaq 100 - Fallers
QUALCOMM Inc. (QCOM) $56.75 -3.72%
First Solar Inc. (FSLR) $13.36 -3.47%
Research in Motion Ltd. (RIMM) $10.36 -2.86%
Garmin Ltd. (GRMN) $37.57 -2.08%

NR

« Go back to news channel

..

Email this article to a friend

or share it with one of these popular networks:


Top of Page