Microsoft Shares at Highest Since 2000, Euro Touches 2.5 Month Low
October 26, 2015 6:58 am
US stocks ended the week in positive territory thanks to a rally in tech shares, Microsoft’s earnings beating expectations and a rebound in healthcare stocks. The Dow closed 157 points higher at 17646, the SP500 rose 22 points to close at 2075. Asian markets started the week in the black and are close to wiping out all their losses since China’s shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates.
As negative yields undermine the attraction of holding the Euro, traders pushed it to a two and a half month low of $1.0989 in early Asian trade. It last stood at $1.1031, bouncing back on profit-taking. The Yen dipped to 121.60 to the US Dollar, its lowest since late August as traders speculated the Bank of Japan might unleash additional easing on Friday, before bouncing back to 121.16 on profit-taking.
International benchmark Brent was 8 cents higher at $48.07 a barrel, but over 10 percent below this month’s high. U.S. crude futures stood at $44.68, hardly recovering after a fall of 5.6 percent last week, not far from three-week low of $44.20 touched on Friday.
Intertek Group has acquired New York-based MT Group LLC and Materials Testing Lab in a bid to expand its building & construction capabilities in the US. The FTSE 100 listed company announced the deal to acquire the materials testing and inspection services company for the building industry on Monday. The company said the deal supported Intertek’s growth strategy in the sector in North America and complements its planned acquisition of PSI. Intertek stock is 0.5% lower in early trade at 2598p per share.
Meanwhile, on Friday Microsoft’s share price soared in the aftermath of strong quarterly results; at close to $53 per share, the company is now trading at its highest level since the year 2000. Microsoft is also opening a flagship store today on New York’s Fifth Avenue. Microsoft shares are currently down by 0.23% in pre-market trading.
US stocks ended the week in positive territory thanks to a rally in tech shares, Microsoft’s earnings beating expectations and a rebound in healthcare stocks. The Dow closed 157 points higher at 17646, the SP500 rose 22 points to close at 2075. Asian markets started the week in the black and are close to wiping out all their losses since China’s shock currency devaluation in August, as global equities rallied after the Chinese central bank cut rates.
As negative yields undermine the attraction of holding the Euro, traders pushed it to a two and a half month low of $1.0989 in early Asian trade. It last stood at $1.1031, bouncing back on profit-taking. The Yen dipped to 121.60 to the US Dollar, its lowest since late August as traders speculated the Bank of Japan might unleash additional easing on Friday, before bouncing back to 121.16 on profit-taking.
International benchmark Brent was 8 cents higher at $48.07 a barrel, but over 10 percent below this month’s high. U.S. crude futures stood at $44.68, hardly recovering after a fall of 5.6 percent last week, not far from three-week low of $44.20 touched on Friday.
Intertek Group has acquired New York-based MT Group LLC and Materials Testing Lab in a bid to expand its building & construction capabilities in the US. The FTSE 100 listed company announced the deal to acquire the materials testing and inspection services company for the building industry on Monday. The company said the deal supported Intertek’s growth strategy in the sector in North America and complements its planned acquisition of PSI. Intertek stock is 0.5% lower in early trade at 2598p per share.
Meanwhile, on Friday Microsoft’s share price soared in the aftermath of strong quarterly results; at close to $53 per share, the company is now trading at its highest level since the year 2000. Microsoft is also opening a flagship store today on New York’s Fifth Avenue. Microsoft shares are currently down by 0.23% in pre-market trading.
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