Dhaka, Bangladesh (BBN)- US stocks seesawed throughout the week, with the Dow Jones Industrial Average venturing around the 10,000 mark.
The week started off on a high note as banks and technology companies posted better-than-estimated earnings, according to reports.
A mid-week slump, caused by a disappointing report on housing starts brought the Dow index below the 10,000 mark, while the Standard & Poor’s 500 Index fell to 1,091.06, retreating from a one-year high. The Dow shed 66.5 points to close at 9,949.36 while the NASDAQ Composite lost 21.5 points from last week to end the week at 2,150.73.
Japan’s Nikkei average maintained its status quo over the 10,000 point mark during the week. Nikkei fell towards the end of the week as Japanese exports slumped 30 percent in September due to declining demand. The index gained 28 points over the week to settle at 10,267.17 despite the losses.
European shares maintained their one-year high positions throughout the week, boosted by top gaining banks such as Standard Chartered, HSBC, Barclays and Deutsche Bank. The FTS Eurofirst 300 index of top European shares rose 0.13 percent to 1,023.59 points over the week. Britain’s top share index, the FTSE 100 also reached a new high for the year at 5,298.54 on growing optimism about the outlook for corporate earnings.
The Dhaka Stock Exchange (DSE) benchmark index crossed the 3,300 point mark for the first time this week, led mainly by financial institutions and Beximco Group subsidiaries. During mid-week, single day turnover reached a new milestone of BDT 12,160 MM from BDT 12,000 MM last week.
The DSE benchmark index, amid fluctuations throughout the week, finally settled at 3,317.93 at the close of business on Thursday.
BBN/SS/SI/AD-24October09-3:01 pm (BST)