AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,806 Increased By 37.8 (0.39%)
BR30 29,678 Increased By 278.1 (0.95%)
KSE100 92,304 Increased By 366.3 (0.4%)
KSE30 28,840 Increased By 96.6 (0.34%)

US stocks rose on Thursday as financial shares recovered from recent losses and a bid to buy the Chicago Board of Trade gave investors optimism. But even with the gains, investors remain largely cautious about the fallout from subprime mortgage losses.
Former Federal Reserve Chairman Alan Greenspan added to those worries when he warned that problems in the subprime market could spread into other sectors. Financial stocks, which were among the hardest hit in Tuesday's sell-off, rose for a second day. Shares of Wells Fargo & Co, the No 5 US bank, gained 1.6 percent to $34.20. Shares of Countrywide Financial Corp, which like Wells Fargo made mortgages to subprime borrowers, rose 2.9 percent to $35.39.
The Dow Jones industrial average was up 30.61 points, or 0.25 percent, at 12,164.01. The Standard & Poor's 500 Index was up 5.89 points, or 0.42 percent, at 1,393.06. The Nasdaq Composite Index was up 5.84 points, or 0.25 percent, at 2,377.58.
Helping the positive tone, electronic energy marketplace IntercontinentalExchange made an unsolicited bid for CBoT Holdings Inc, the parent of the Chicago Board of Trade. In October, the Chicago Mercantile Exchange had agreed to buy the CBoT.
Greenspan, speaking to the Futures Industry Association in Boca Raton, Florida, said it was "hard to find any such evidence" about spillover from housing yet. But he added, "You can't take 10 percent out of mortgage origination's without some impact."

Copyright Reuters, 2007

Comments

Comments are closed.