Surprisingly strong U.S. employment figures breathed life back into a jaded recovery story Friday, sending European shares higher with German software firm SAP leading a tech charge
Published:
4 October 2003 y., Saturday
SAP rallied eight percent to 114.3 euros after U.S. rival Siebel said it would meet quarterly profit forecasts, though revenues would be at the lower end of expectations.
Broker upgrades lifted three of Europe's leading technology firms, with handset giant Nokia of Finland up five percent at 14.5 euros, while Dutch chip equipment maker ASML jumped 10 percent to 12.8 euros. Philips Electronics advanced four percent to 21.3 euros.
Insurers were strong, led higher by Dutch Aegon after UBS bank raised its rating on the stock, along with that of Italy's Generali, which also climbed.
Bourses extended their advance in the early afternoon on news U.S. employers added 57,000 new jobs in September for the first time in eight months, when a 30,000 job loss was expected. The unemployment rate held steady at 6.1 percent.
The news reassured investors that economic recovery is finally creating new jobs so that consumers, which represent two-thirds of U.S. economic activity, are able to keep spending.
Šaltinis:
cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »