European Stocks, US Stocks Overview 05/26/2011

European Stocks Overview 05/26/2011 : European stocks closed slightly higher Wednesday, clambering out of the red after credit-ratings firm Fitch Ratings said it doesn't foresee any rating action on German banks as a result of their exposure to Greece. Banking shares jumped, and the Stoxx Europe 600 index ended up 0.7% at 277.37. Commerzbank, which Fitch said has the biggest euro exposure to Greece among commercial banks, surged 6.1%. Among major national European indexes, the U.K.'s FTSE 100 nudged up 0.2% to 5870.14, Germany's DAX increased 0.3% to 7170.94 and France's CAC-40 added 0.3% to 3928.99. The Fitch report helped boost other banks. Natixis rose 2.4%, BNP Paribas gained 2.2% and Credit Agricole added 2.3%, all in Paris.

In Italy, Banca Popolare di Milano climbed 3.9%, while Barclays rose 2.3% in London. Burberry Group fell 1.6% ahead of full-year results due Thursday. Italy's Fiat rallied 3.3%. Chief Executive Sergio Marchionne said the car company will consolidate Chrysler Group next week as it readies to lift its stake in the U.S. automaker by 51% ahead of an eventual initial public offering. Deutsche Lufthansa rose 1.1% after airports in northern Germany began to reopen. They had been forced to close earlier due to an ash cloud from a volcanic eruption in Iceland. In London, shares of International Consolidated Airlines, which also had been hit by cancellations on Tuesday, rose 1.5%.

US Stocks Overview 05/26/2011

U.S. stocks snapped a three session losing skid, as investors rode a boost in commodities prices to snap up shares of energy, materials and industrial companies. The Dow Jones Industrial Average gained 38.45 points, or 0.31%, to finish at 12394.66. The Standard & Poor's 500-stock index gained 4.19 points, or 0.32%, to 1320.47, while the Nasdaq Composite added 15.22 points, or 0.55%, to 2761.38.

Leading the way were stocks aligned to global growth. Caterpillar, DuPont and Alcoa gained 1.7%, 1.8% and 1.4%, respectively, as gold, copper and oil all rose. Even so, the energy, materials and industrial sectors remain among the worst-performing sectors this month, off by about 5% or more apiece. Stocks spent much of the morning in negative territory after a weak economic reading and dispiriting results from some closely watched companies, but turned positive after credit-ratings agency Fitch Ratings said it doesn't foresee any rating action on German banks as a direct result of their exposure to Greece's sovereign debt.

Trading volume remained light, with only 3.5 billion shares changing hands in New York Stock Exchange composite volume. Leading the decliners were the more-defensive sectors, with consumer staples, utilities and telecom stocks in the red. Procter & Gamble was off 0.9%, while Verizon Communications fell 1.4%.

In corporate news, Polo Ralph Lauren tumbled 11%, making it the worst-performing component on the S&P 500, after the high-end retailer's fourth-quarter profit dropped 36% on higher costs and lower sales in Japan. (source http://au.ibtimes.com/articles/152249/20110526/global-markets-overview-05-26-2011.htm ) For the latest updates PRESS CTR + D or visit Stock Market news Today

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