Daily Equity Prices and Market Overview 30.10.2012
Today Wall Street participants discussed for hours the possibility of resuming trade, after weather conditions closed Wall Street for the first time in 27 years. According to statements from several U.S. exchanges Wall Street is expected to open on Wednesday as New York recovers from the havoc of Hurricane Sandy. The market has been closed for two days as the Hurricane destroyed the East Coast, forcing thousands of people to evacuate and causing millions of dollars in damage.
European indices rallied on Tuesday, as corporate earnings came in better-than-expected, from well known names like Germany’s Deutsche Bank, Swiss bank UBS and oil major BP. UBS confirmed it will slash 10,000 jobs, and oil major BP rose dividends for the second time in less than a year.
The CAC40 closed at 3,459.44, gaining 50.55 points (1.48%), FTSE100 closed at 5,849.90, gaining 54.80 points (0.95%) and DAX40 closed at 7,284.40, gaining 81.24 points (1.13%).
Google Inc. (GOOG) has tried to develop its music library for its Google Play service, to go alongside its movie and television streaming, to improve the experience for its many Android smartphone users that don’t have access to iTunes by Apple Inc. (AAPL) and have had to look to Amazon.com Inc. (AMZN). Google Inc. (GOOG) recently announced that it signed a licensing contract with Warner Music Group to bring its massive catalog of music and artists to the Play music service. This provides an extensive mp3 library for Android users, as WMG has 15 percent of the world’s recorded music market.