Markets climb higher as earnings season approaches
Trading Floor News April 24, 2013 5:02 PM
<p>The markets this morning increased steadily after companies started to release their earnings reports. The Dow Jones is pricing at 14733, up 20 points this […]</p>
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The markets this morning increased steadily after companies started to release their earnings reports.
The Dow Jones is pricing at 14733, up 20 points this morning despite Apple announcing a decline in earnings, however, the company intends to increase their cash return programme for shareholders that may buy Apple some relief from worried investors who have driven the stock down more than 40% in recent weeks.
So for all those trading Apple stocks, keep a keen eye on their share price upon the 2.30pm GMT open in the US.
Long investors of the Dow were worried shortly after 6pm GMT yesterday as an Associated Press Twitter account was hacked. Hackers Tweeted of an attack on the White House, which saw markets down 150 points in a matter of seconds, only to make a full recovery upon the realisation of the false alarm. Just a brief reminder to all traders that everything can change in a split second!
Back in the UK Barclays announced that their first quarter profits decline by £609 million, resulting in their share price opening down 1.64% at 294.86p. The shares have since made a recovery to 303.23p as of 10am this morning.
In positive news Standard Life recorded a 24% increase in long term savings sales to £6.3 billion, pushing the stock up 4% on the open. So with a majority of the UK stocks doing well today the FTSE is pricing at 6420, up 22 points this morning.
Elsewhere in Europe the Italian 40 was down 55 points at 16433 after retail sales didn’t meet expectations. The German DAX was up 23 points 7684 despite negative data on the Ifo Business Climate and the French CAC also up today pricing at 7686.
All in all a fairly quiet morning, however, look out for core durable goods figures from the US at 1.30pm GMT and be aware of the US market open to see what impact Apple has on the Dow Jones.
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