Thursday, January 31, 2008

End of Month Stock Roundup

  • Following the Federal Reserve slashing of interest rates by a half-percentage point U.S. stocks showed gains on Wednesday, sending indexes up more than 1 percent -- boosted by hopes that the economy would avert a recession.
  • New Zealand's sharemarket started out well yesterday but ended up negatively.
  • Despite a positive start to the day, Australian shares started a decline at lunch time and continued to edge lower to the end of the session yesterday.
  • Ahead of the US Federal Reserve interest rate decision Japanese shares lost momentum amid gloomy earnings reports.

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