Proactive investorsLogo Proactive Investors UK Website

Search field

1 year chart

digital-look imported chart image

1 day chart

digital-look imported chart image
Epic & Msn data
Epic ASX
Time: 11:54:00
Mid Price: 2613.10
Change Today:
Change % Today:
Fifty Two Week High:
Fifty Two Week Low:
Market Capital:
Period & price data
Period Price
Now: 2613.10
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: All Share Index
Sector: General Mining
Epic: ASX
News: Latest news
Web Site: UK Market Wrap
Other Articles: 09-02-201009-02-201008-02-2010

Tuesday, October 20, 2009

Markets climb ahead of Coca-Cola, Pfixer, Yahoo, Caterpillar and DuPont results

company news image

Overview: the FTSE 100 is seen opening slightly higher today after a rally on Wall Street after Eaton Corp (NYSE: ETN), Hasbro (NYSE: HAS) and Texas Instruments (NYSE: TXN) all reported strong Q3 results, as did publisher Gannett (NYSE: GCI), whose profits beat analysts estimation.

The Dow Jones industrial average rose almost 1%, sitting well above the 10,000 point mark. S&P 500 also rose 0.9%, as did the Nasdaq composite. Computer giant Apple (NYSE: AAPL) reported higher than expected sales of iPhones and Macs after the bell, further buoying the markets.

Construction and mining equipment manufacturer Caterpillar (NYSE: CAT) also did well ahead of its quarterly report, which is due on Tuesday. Other companies reporting today are DuPont (NYSE: DFT), Yahoo (NYSE: YHOO), Coca-Cola (NYSE: KO) and Pfizer (NYSE: PFE).

Aside from the corporate results, investors will be expecting more updates from the US, where housing starts and producer prices data for September is due to be released today.

Asian markets were bullish in early trade with stocks in both Hong Kong and China starting higher. Japan’s Nikkei also improved. The UK blue chip index tacked on 1.8%, boosted by good gains from mining and energy stocks following an increase in oil and metal prices.

Oil prices continued climbing today with December Brent Crude rising to US$78.07/barrel, while US light, sweet crude was just short of the US$80/barrel mark.

Gold also inched higher as US dollar declined, helping the yellow metal rise to US$1,066/oz, while Silver reached US$17.80/oz. Platinum climbed to US$1,367/oz.

Base metals followed with Copper moving up to US$2.91/pound, while Nickel reached US$8.62/pound and Zinc was just short of US$0.95/pound.

Morning news wrap

Not much news was out in the UK this morning. Software manufacturer Autonomy Corporation (LSE: AU) reported highest profits and revenues in its history after Q3 revenues jumped 51%, while pre-tax profits rose 20% year on year to US$64.3 million.

Anglo-Swiss miner Xstrata (LSE: XTA) released an interim management statement, saying its operating and financial performance remained strong, while the Xstrata alloys increased capacity utilization from 60% in July to 85% in August, responding to a higher demand in the second half.

Publishing company Pearson (LSE: PSON) is expected to be in demand after raising its full year guidance, projecting its adjusted earnings to be at or above 60 pence per share.

In the AIM, laterite nickel specialist European Nickel (AIM: ENK) has extended its Bridge Loan Facility Agreement with Endeavour Financial Corporation to 30 November 2009.

NewsNow icon AddThis Feed Button
Register here to be notified of future UK Market Wrap articles.

Other UK Market Wrap articles

More articles ►

Other UK Market Wrap news

More news ►

Investors interested in UK Market Wrap recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.