Exchange: the Rise is Accelerating at Mid-day, Dollarama $100

Exchange the Rise is Accelerating at Mid-day Dollarama 100

North American stock markets have increased their gains late in the morning, boosted by good corporate earnings in the United States, including those of computer giant Apple that particularly improve Nasdaq index.

Here’s the current situation:

The S & P / TSX TSX takes 173 points or 1.21 percent to 14511

In New York, the S & P 500 ahead by 28 points or 1.47 percent to 1932

The Dow Jones gained 157 points or 0.96 percent to 16557

Nasdaq rises 74 points or 1.72 percent to 4390

Among Canadian stocks in action, Canadian Pacific (Tor., CPR) earning $2.19 to $223.84, although it announced earnings per share and revenue lower than expected in the third quarter.

Dollarama (Tor. DOL) is part of consumer stocks that continues to attract the favor of investors. The retail chain Montreal crossed the symbolic threshold of $100, or more than five times the price of its initial public offering ($17.50) on October 9, 2009.

The bond of the restaurant operator MTY Group, which had suffered in recent weeks after the release of disappointing results, continues to rise: it gains 3.5 percent to $30.

Other consumer companies, Alimentation Couche-Tard (Tor., ATD.B) rises 2.9 percent to $36.83. The grocer Metro shareholder Couche-Tard also hovers around its record high of $76.12, ahead of 0.21 percent.

The day before, the New York Stock Exchange, after a hectic week, had managed to ignore the disappointment with the results of computer giant IBM to continue its rebound: the Dow had gained 0.12 percent to 16,399 , 67 points and the Nasdaq 1.35 percent to 4316.07 points.

The indices continued their rebound from yesterday at the opening, boosted by quarterly accounts deemed generally bode well for the health of the American economy.

Apple (Nasdaq AAPL), which has the largest market capitalization in the United States, was particularly in focus.

The software giant reported Monday evening strong sales of its iPhone, which confirmed its role as a cash cow for the California company, despite the slowdown of its other flagship product, the iPad tablet.

Apple has passed the last three months of smartphones 39,270,000, or 16 percent higher than a year ago and better than the market had hoped.

In addition, Apple bond price went up more than 2 percent in early trading. “The company reported better than expected quarterly forecasts and anticipates a good holiday season,” noted experts of Wells Fargo.

Other companies have done better than expected, too, highlighting the good mood of the financial center, as well the member of the Dow Jones United Technologies and Travelers Companies, added experts from the brokerage Charles Schwab.

The market also benefited from a favorable wind blowing in European equity markets, amid speculation on new assets of the European Central Bank (ECB) repurchases to boost the economy of the region.

The bond market retreated. The yield on 10-year Treasury progressed to 2.218 percent against 2.181 percent Monday night, its thirty-year low at 2.983 percent against 2.959 percent at the previous close.

User Rating: 5.0 (1 votes)