Dhaka, Bangladesh (BBN) – Although US stocks began the week on a decline, they turned around strongly on Tuesday on the back of better-than-expected manufacturing data.
Stocks then fluctuated for the rest of the week after mixed reports of a better-than-expected private sector jobs data and concerns about the housing market.
The Dow Jones Industrial Average closed the week at 10,573.68, adding 28.27 points over the previous week while the NASDAQ was up by 12.69 points as compared to last week’s closing, according to reports.
The Japanese Nikkei 225 Index went on a rally for the greater part of the week on the back of positive news from exporters such as Honda Motor Co. as well as reports of the fifth straight expansion in the manufacturing sector in the U.S.
The Nikkei index went on to reach a 15 month high of 10,791.04 on Tuesday. The index finally closed at 10,681.66 on Thursday.
The FTSE 100 index fluctuated for the greater part of the week rallying on Wednesday to break 5,530 mark. The index fell again as energy stocks suffered from a weakness in crude prices and disappointing trading news from retailer Marks & Spencer.
Locally the DSE General Index had been on a rally all throughout the week, going above the 4,700 mark for the first time on Wednesday. The index finally closed the week at 4,722.10.
BBN/SS/SI/AD-08January10-8:59 pm (BST)