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Stock market: Wall Street sharply higher, Europe lag

Posted on June 9th, 2009 in NewYorkStock Market NewYorkStock Market

A time delay, once again. The European stock markets finished the fall believer anticipate a downturn on Wall Street, following the publication earlier today in New York, indices somewhat comforting – especially in the housing market in the United States. It did not happen.

Wall Street has finally closed sharply higher due to rising oil prices. And in the day, New York, other economic indicators came to reassure the markets.

The regulation of critical case General Motors is on track: there will be restarted after cessation of payments, with funding of 40 billion the federal government, and bonuses for former shareholders who convert to the new entity. The oil values have also boosted the stock market, following a rise in crude. Other good news: the durable goods orders were higher than expected, while unemployment weekly entries were lower than expected figures. Financial stocks have benefited, gaining on average 2.9%, with a record of the day, JPMorgan Chase & Co is 5.74%.

The Dow Jones gained 1.25% or 104 points better at 8403.80 points (which is not enough to offset the downturn on the eve of -2.05%).

And the Nasdaq rose 20 points or 1.2% to 1751.79 points.

Please note that Time Warner has gained 2.39%, the separation is formalized AOL, the Internet portal will be introduced on the stock market before the end of the year.

And AT & T gained 2.33%, following a statement by its CEO, Randall Stephenson, confirming that, unlike its competitor Verizon, the telecommunications giant will continue its activities in the fixed telephony.

In Europe, stock markets have believed in a further decline on Wall Street … The pan-European index Euro STOXX 50 has yielded -1.1%. London fell by -0.6%, Frankfurt is at -1.4%.

In Paris the CAC 40 lost -0.95% to 3263.70 points. The automotive (-2.05%)-except Valeo, which was up 3.56% – and the construction sector (-2.97%) have pulled the index down , because of the indicators … U.S.. Bouygues fell by -5.4%.

France Telecom has managed to stay in the green, owing in part to a declaration of abandonment dga on likely investment in Egypt.
Unbisoft fell by -2.63% due to an operating profit 2008-2009, – 13.6%, below expectations.