Stocks closed at session highs Wednesday, with the Dow up 200 points and S&P within 1 percent of hitting its record, after Senate leaders announced a long-awaited compromise to raise the debt ceiling and put an end to the government shutdown. The agreement came just one day before the Treasury was expected to exhaust its ability to borrow more money. Asian equity markets pared gains on Thursday afternoon following sharp gains earlier in the session after President Obama signed a last-minute Congressional deal to avert a debt default and to reopen the government after a more than two-week shutdown. Japans Nikkei, the Shanghai Composite and South Koreas Kospi were all modestly higher while Australias S&P ASX 200 hit a two-and-a-half week high. Indian stocks were flat. Meanwhile, Dow stock futures erased earlier gains to fall 20 points. European equities are expected to open to subdued trade on Thursday despite U.S. lawmakers reaching a last-minute deal to lift the countrys borrowing limit, averting a debt default in the short-term at least. The FTSE is expected to open down 6 points at 6,565, the German DAX is seen up 2 points at 8,845 and the French CAC is tipped down 6 points at 4,237. KPN America Movil, the phone company controlled by billionaire Carlos Slim, said it would not go ahead with a plan to boost its stake in KPN, and has not yet decided whether to keep its current position in the Dutch telecom company. GDF French power group GDF Suezs Cofely subsidiary said it would buy a district heating network in Poland from a Swedish unit of German counterpart E.ON EDENRED The French meal vouchers specialist said revenue rose by 6.7 percent to 780 million euros in the first nine months of 2013, helped by strong growth in Latin America. SAFRAN CFM International, the worlds largest maker of jet engines by number of units sold, said testing of a new powerplant for the next generation of narrowbody passenger jets was going to plan. AREVA, EDF French nuclear group Areva is ready to join the EDF-led consortium that plans to build a nuclear plant at Hinkley Point in the UK, Bloomberg reported, quoting people with knowledge of the matter. RENAULT Igor Komarov, chief executive of Russias largest carmaker, Avtovaz AVAZ.MM, is stepping down, Avtovaz said. 12:00 NOKIA
Posted on: Thu, 17 Oct 2013 05:28:07 +0000
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