December 11, 2013
World shares flat but Wall Street gains; S&P 500 at new high
World equity indexes were near five-year highs as major US technology companies propelled Wall Street to another day of gains, sending the S&P 500 index to close at a record.
The S&P 500 is up 23.4 percent so far this year, just shy of the 23.5 percent gain it posted in 2009. Surpassing the 2009 record would give the index its biggest annual gain in a decade.
The Dow Jones industrial average .DJI was up 61.07 points, or 0.39 percent, at 15,570.28. The Standard & Poor's 500 Index .SPX ended up 7.7 points, or 0.44 percent, at 1,759.77, and hit an intraday record high of 1,759.82 late in the session. The Nasdaq Composite Index .IXIC was up 14.40 points, or 0.37 percent, at 3,943.36.
European shares steadied today after a growing list of companies reported earnings hit by an adverse exchange rate, prompting investors to lock in profits at the end of a third straight week of market gains.
A strong euro hit sales at French insurer AXA and carmaker Renault, while prompting electrical gear maker Schneider Electric to lower its full year forecasts.
The FTSEurofirst 300 was down 0.1 percent at 1,285.25 points by 1002 GMT, holding around 10 points below the 5-year highs hit on Tuesday, but still up 0.6 percent on the week.