American Markets: DOW JONES: 12426 +32 NASDAQ: 2799 + 8
USDINR: 44.58 -0.12 EURINR: 63.39 +0.10
GBPINR: 71.55 +0.08 EURUSD: 1.41 +0.00
GBPUSD: 1.60 -0.00 USDJPY: 83.55 +0.42
U.S. Stocks Rally as Dow Rises to Highest Level Since June 2008: U.S. stocks rose, sending the Dow Jones to the highest level since 2008, as Cisco Systems Inc. spurred a technology rally and European lenders' plans to raise capital lifted financial shares.Cisco Systems rallied 4.9 percent on speculation the maker of networking equipment will sell or spin off its consumer business. JPMorgan Chase & Co. and Bank of America Corp. added at least 1.8 percent. Broadcom Corp. added 3.9% as Oppenheimer & Co. raised its rating for the maker of chips for television set-top boxes.The S & P's 500 Index rose 0.2% to 1,335.54. The benchmark gauge rose as high as 1,339.38, near 1,343.01, its closing high for the rally since March 2009.The Dow average advanced 32.85 points, or 0.3%, to 12,426.75, the highest level on a closing basis since June 2008.
Asian Markets: NIKKEI: 9639 + 55 HANG SENG: 24267 - 22 KOSPI: 2112 - 9 SGX NIFTY 5906 - 6
Asian Stocks Rise After Yen Declines, Gold Price Extends Record: Asian stocks rose as the yen weakened against all of its most-traded currencies and after gold prices rose to a record for a second day in New York on demand for the precious metal as a hedge against inflation.
Canon Inc.that counts Europe & the Americas as its biggest markets, increased 1.5% in Tokyo, while Elpida Memory Inc., the world's No. 3 maker of computer-memory chips, surged 5.8%. Toyota Motor Corp., the largest carmaker, gained 1.2%. Newcrest Mining Ltd., Australia's biggest gold producer, added 1 %in Sydney, while Dart Energy Ltd., a gas explorer, surged 3.9% after announcing a "significant resource" at its projects..The MSCI Asia Pacific Index gained 0.2 percent to 135.35 as of 9:47 a.m. in Tokyo. About two stocks advanced for each that fell in the index. The Asia-Pacific gauge rose for the past two weeks as Japanese companies began resuming production after the nation's worst earthquake on record last month and as Chinese firms posted profits that beat analyst estimates.
European Markets: FTSE: 6041 + 34 CAC: 4048 +6 DAX: 7215 + 39
Portugal Seeks Bailout From EU After Failing to Stem Crisis: Portugal will seek a bailout from the European Union after the nation's political crisis pushed borrowing costs to record levels and forced it to become the third euro-region country to needing a rescue. Portugal is aiming for a package that may be worth as much as 75 billion euros ($107 billion), two European officials with knowledge of the situation said. Bond yields have surged since Socrates offered to resign on March 23 after parliament rejected proposed budget cuts, leaving him in charge of a caretaker government with limited powers until a June 5 election.
The LME Index of prices for six industrial metals including copper and aluminum gained 2.1 percent yesterday. Copper futures for May delivery rose the most in two weeks. Gold rose to as high as $1,463.70 an ounce yesterday on speculation the U.S. will struggle to contain consumer prices. Federal Reserve Chairman Ben S. Bernanke this week said inflation must be watched "extremely closely."
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