LONDON (SHARECAST) - U.S. Equities advance on a broad front, continuing an advance today's global stock markets.
There was, however, mixed news on the retail sales front. U.S. retail sales jumped 1.4% in October from the prior month, compared to forecasts for a 0.9% gain. However, the September index figure was revised down to show a 2.3% fall, versus a preliminary reading of Which Showed a 1.5% slide. Sales without cars rose 0.2% in October, falling short of the 0.4% gain that was forecast.
On the subject of cars, General Motors will begin paying back $ 6.7bn in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule.
Oil giant Exxon Mobil heads higher on some positive comment in Barron's financial journal, Which predicted the stock may rise as high as $ 90 next year, on the back of the worth of its refining and chemicals operations.
Cisco Systems is raising its bid offer for Norway's Tandberg to 170 Norwegian kroner ($ 30.35) per share, in a deal Valuing the company at $ 3.39 billion, according to the Wall Street Journal.
JPMorgan Chase added steelmakers U.S. Steel and AK Steel Holdings to its "focus list ', prompting interest in both shares Thurs heat up.
Pharmaceutical company Merck made the early running among the Dow Jones constituents, advancing swiftly even though a new study threw doubts on the relative performance of its cholesterol drug Zetia versus Abbott Laboratories' Niaspan treatment.
DIY retailer Lowe's is still suffering in the U.S. housing Slump, with customers still holding off from buying big-ticket items. Lowe's third quarter net profit fell 30% from a year earlier to $ 344m. Like for like sales eased 7.5% year on year.
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