DOW JONES 11,220.96 +32.73
Published Date:
06 September 2008
US SHARES ended their worst week in months with modest gains last night , as bargain-hunting among financial stocks offset a government report showing further deterioration in the US labour market.
The Dow Jones industrial average was up 32.73 points, or 0.29 per cent, at 11,220.96. The Standard & Poor's 500 index rose 5.48 points, or 0.44 per cent, to 1,242.31 while the Nasdaq Composite index fell 3.16 points, or 0.14 per cent, at 2,255.88.
For the week the Dow fell 2.8 per cent, the S&P 3.2 per cent and Nasdaq 4.7 percent.
Meanwhile, after further falls yesterday, the Russian stock market has plunged more than 30 per cent since the country's invasion of Georgia last month.
Investor confidence has been hit hard by the conflict. Some international banks estimating that up to $20 billion (£11bn) in foreign capital has been pulled out of Russia in the last month.
The value of the rouble has slumped, reportedly leading to the central bank stepping in.
Analysts in Moscow say Russia is now seen as a risky place to invest and it will be a long time before confidence returns.
The full article contains 210 words and appears in The Scotsman newspaper.
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Last Updated:
06 September 2008 1:02 AM
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Source:
The Scotsman
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Location:
Edinburgh
