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US indices move up

12 September 2008 13:56 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. U.S. stocks rebounded in the afternoon trading as crude oil futures declined near $100 a barrel. Natural gas fell. Gold dropped 2% after losing 4% a day ago. Brazil raised its rate to 13.75% after a split decision, fourth rate hike this year.
Dow Jones Industrial Average increased 164.79 or 1.46% to a close of 11,433.71, S&P 500 Index closed up 17.01 or 1.38% to 1,249.05, and Nasdaq Composite Index increased 29.52 or 1.32% to close at 2,258.22.
In London FTSE 100 Index closed lower 47.80 or 0.89% to 5,318.40, in Paris CAC 40 Index decreased 34.59 or 0.81% to close at 4,249.07 and in Frankfurt DAX index lower 31.42 or 0.51% to close at 6,178.90. In Zurich trading SMI decreased 50.18 or 0.70% to close at 7,071.25.
Gold has declined 28% from its peak in March and for the first time drops below $750 in the year. The yellow metal which generally benefits from the global stock and bond market weakness has not been the favorite of investors, despite a steady rise in inflation. The sharp reversal in sentiment in favor of the U.S. dollar has dragged all precious metals lower in the last five months. Silver prices are at a 2-year low and platinum price has fallen 45% from the high of $2,021 in March of this year to $1,142 an ounce.