Advanced Search

Share Coverage



Category: Stockmarket / Markets / Currency / Futures

US shares rise modestly amid mixed profits

Wednesday, 20 Apr 2016 06:45:53 | Sue Lannin

IBM's held the market back on its worst quarterly revenue in 14 years. (AFP: AFP)

Wall Street made modest gains after company profit results were mixed.

The Dow Jones Industrial Average came off its lows to close up 49 points at 18,054.

Investment bank Goldman Sachs gained after its quarterly profit was better than expected.

It cut costs, but net income fell 60 per cent to $US1.1 billion as revenue fell.

Johnson & Johnson reported strong pharmaceutical sales, but first quarter net profit was down slightly from the same time last year at $US4.29 billion.

IT firm IBM lost more 6 per cent after reporting its worst quarterly revenue in 14 years.

The S&P 500 rose 5 points, or 0.3 per cent, to 2,099, nearing a record high.

The Nasdaq lost 20 points to close at 4,940 after weaker profit results from Illumina and Netflix.

Stocks gained in Europe - London's FTSE 100 rose nearly 1 per cent, or 52 points, to 6,405 as mining and banking stocks rallied further.

The DAX in Germany jumped more than 2 per cent, or 229 points, to 10,350.

The CAC 40 in Paris rose more than 1 per cent, or 60 points, to 4,566.

In futures trade, the ASX SPI 200 was up 31 points to 5,212.

West Texas crude oil was up $US1.30 to $US41.08 a barrel as a strike by workers in Kuwait cut output.

Spot gold jumped almost $US8 to $US1,250.47 an ounce on a weaker greenback.

Iron ore rose $US2.49 to $US62.85 a tonne after the price of steel increased in China.

The Australian dollar has gained further on a sliding greenback to reach 78.21 US cents.

It was buying 54.28 British pence, 68.81 euro cents, 85.35 Japanese yen and nearly $NZ1.11.

AustraliaPlus


 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend