Dhaka, Bangladesh (BBN)- US stocks advanced this week on upbeat US company earnings signaling economic recovery. Earnings of Caterpillar Incorporated, the world’s largest bulldozer manufacturer based on US, tripled analyst estimates.
The Dow Jones Industrial Average increased to 8,881.26, registering a gain of 3.08 percent against last week. The NASDAQ Composite added 3.41 percent to 1,926.38 during the same period, according to reports.
Asian stocks also advanced throughout the week on conjecture of increased earnings of Asian companies and prospects of higher Japanese export revenues. The Nikkei 225 closed Thursday at 9,728.91, a gain of 2.68 percent over last week. The BSE Sensex added 590 points or 4.1 percent to 14,843.12 over last week.
Locally, turnover at the country’s premier bourse, Dhaka Stock Exchange, hovered around BDT 4 billion on Thursday. The DSE General Index closed on Thursday at 2,866. 22 level, slightly lower than last week.
BBN/SSR/SI/AD-25July09-1:49 pm (BST)